Wabash National Corporation Common Stock (WNC)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Wabash National sells the unglamorous hardware of freight: dry vans, platform trailers, tank trailers, and truck bodies. It is a cyclical industrial with 4,700 employees, so I ask whether it earns durable returns and whether the balance sheet can survive downturns. The filed record is volatile and shrinking: in fiscal 2023, the year ended 2023-12-31, revenue was $2.5B and net income $231.3M, or $4.81 per diluted share. In fiscal 2024, the year ended 2024-12-31, revenue was $1.9B and the net loss was $284.1M, or -$6.40 per share. In fiscal 2025, the year ended 2025-12-31, revenue was $1.5B and net income was $211.5M, or $5.07 per share. More recently, in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $303.2M and the net loss was $45.2M, or -$1.11 per share. FairStock's calculations at the 2026-10-13 close of $13.47 show a negative P/E of -7.40, P/B of 1.88, ROE of -22.87%, ROCE of -3.22%, and D/E of 1.86. Trailing free cash flow is -$16.0M, a -2.9% FCF yield. The Piotroski score is 5/9 and Altman Z-score is 0.99, which speaks to financial fragility. A 2.70% dividend yield while earnings and cash flow are negative deserves scrutiny. FairStock labels it a TURNAROUND, but turnarounds need improving margins, lower debt, and positive cash generation. The company has a real business and a cyclical franchise, but not, on these numbers, a wide moat. At about 1.9 times book with negative returns, the price is not a Graham bargain. I would want evidence of normalized earnings and a sturdier balance sheet before calling it cheap.

In plain English: Wabash National makes trailers and truck bodies used to move goods and build infrastructure. The business looks weak right now: it has lost money recently, cash flow is negative, and it carries a lot of debt. At $13.47, the shares do not look like a clear bargain; they look risky and priced for a recovery that has not yet shown up.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · fiscal Q2 2025 10-K (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer