Wabash National (WNC) AI Stock Analysis

• Market Cap: $442.95M
• Dividend Yield: 2.99%
• Average Volume (3M): 517.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: -25.02%
• EPS Growth: -171.64%
• Country: US
• Employees: 6,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Agricultural - Machinery
• EPS (TTM): -0.15
• Shares Outstanding: 40,938,225
• 10 Day Avg. Volume: 328,273
• 30 Day Avg. Volume: 517,193
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.94
• Enterprise Value/Revenue: 0.50
• Enterprise Value/Gross Profit: 5.39
• Enterprise Value/Ebitda: -9.12
• 1Y Price Target: $9.50
• Price Target Upside: -11.30% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 51 Neutral
• Price Target: $11.00 ▲(2.71% Upside)

Wabash National's overall stock score reflects significant financial and operational challenges, particularly in revenue generation and profitability. While there are positive aspects such as growth in the Parts and Services segment and strategic initiatives, these are overshadowed by broader economic uncertainties and reduced market demand. The technical analysis provides mixed signals, and valuation metrics indicate ongoing financial difficulties. The company's ability to navigate these challenges will be crucial for future performance.

Wabash National Business Overview & Revenue Model

Company Description

Wabash National Corporation designs, manufactures, and distributes engineered solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products. This segment also offers stainless steel and aluminum tank trailers for the dairy, food and beverage, oil, gas, and chemical end markets; dry bulk trailers; and fiberglass reinforced poly tank trailers. The Parts & Services segment provides aftermarket parts and services; aluminum and steel flatbed bodies, shelving for package delivery, partitions, roof racks, hitches, liftgates, and thermal solutions; and door repair and replacement, collision repair, and basic maintenance services. This segment also offers stainless steel storage tanks and silos, mixers, and processors for the dairy, food and beverage, pharmaceutical, chemical, craft brewing, and biotech end markets; and composite products, including truck bodies, overhead doors, and other industrial application products. The company offers its products under the Wabash, DuraPlate, DuraPlateHD, DuraPlate AeroSkirt, and AeroSkirt CX brands, as well as EcoNex brand. It distributes its products directly, as well as through its retail operations and independent dealers to truckload common carriers, leasing companies, private fleet carriers, less-than-truckload common carriers, and package carriers. The company was founded in 1985 and is headquartered in Lafayette, Indiana.

How the Company Makes Money

Wabash National generates revenue primarily through the sale of its semi-trailers and transportation equipment. The company's key revenue streams include the manufacturing and sale of different trailer types, including refrigerated trailers, dry vans, and specialty trailers. Additionally, Wabash National offers aftermarket parts and services, contributing to ongoing revenue from existing customers. Significant partnerships with major logistics and transportation companies enhance its market presence and sales volume. The company also benefits from trends in the freight and logistics industry, such as increased demand for e-commerce and more efficient transportation solutions, which drive revenue growth.

Wabash National Financial Statement Overview

Summary

Wabash National faces significant financial challenges, particularly in revenue generation and profitability, as reflected in the income statement. The balance sheet shows moderate leverage, but declining equity raises concerns about financial stability. Cash flow remains a relative strength, with positive operating and free cash flows, though inefficiencies must be addressed. Overall, the company needs to improve operational efficiency and profitability to enhance financial health.

Income Statement

Wabash National's income statement reflects significant challenges, with declining revenues and profitability. The TTM (Trailing-Twelve-Months) shows a drop in total revenue from the previous annual period, with a negative EBIT and net income indicating operational inefficiencies and loss-making activities. EBITDA margin is negative, highlighting the lack of operating leverage. The gross profit margin has narrowed, and the net profit margin has turned negative, raising concerns about the company's ability to manage costs and generate revenue efficiently.

Balance Sheet

The balance sheet reveals a moderately leveraged position, with a debt-to-equity ratio of approximately 1.14 in the TTM, indicating reliance on debt financing. Stockholders' equity has fluctuated, reflecting operational losses. The equity ratio is around 28%, suggesting that a significant portion of assets is financed by equity, offering some stability. However, the declining net income has impacted the return on equity, which is negative, raising red flags about the company's ability to generate returns for shareholders.

Cash Flow

The cash flow statement indicates some positive aspects, with a positive operating cash flow in the TTM, suggesting that core business operations are generating cash. Free cash flow has grown from the previous period, which is a positive sign for liquidity. However, the operating cash flow to net income ratio indicates inefficiencies, as net income is negative. The free cash flow to net income ratio also reflects operational challenges. The company must address these inefficiencies to maintain positive cash flows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.72B	1.95B	2.54B	2.50B	1.80B	1.48B
Gross Profit	159.37M	265.07M	498.19M	322.69M	196.47M	159.75M
EBITDA	-94.16M	-299.77M	359.86M	214.25M	73.26M	-37.05M
Net Income	-109.86M	-284.07M	231.25M	112.26M	1.16M	-97.41M
Balance Sheet
Total Assets	1.38B	1.41B	1.36B	1.20B	1.11B	1.16B
Cash, Cash Equivalents and Short-Term Investments	57.42M	115.48M	179.27M	58.24M	71.78M	217.68M
Total Debt	437.49M	433.56M	428.68M	418.82M	439.75M	459.44M
Total Liabilities	989.58M	1.22B	812.72M	805.40M	781.53M	756.59M
Stockholders Equity	385.22M	188.83M	549.50M	397.61M	325.54M	404.88M
Cash Flow
Free Cash Flow	71.65M	45.08M	221.51M	67.00M	-56.58M	104.00M
Operating Cash Flow	107.55M	117.27M	319.61M	124.08M	-7.47M	124.13M
Investing Cash Flow	-99.19M	-94.79M	-106.04M	-55.30M	-27.08M	-3.02M
Financing Cash Flow	-28.23M	-86.27M	-92.54M	-82.31M	-111.35M	-43.96M

Wabash National Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.71
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WNC, the sentiment is Negative. The current price of 10.71 is below the 20-day moving average (MA) of 11.22, above the 50-day MA of 10.65, and below the 200-day MA of 11.80, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 45.49 is Neutral, neither overbought nor oversold. The STOCH value of 8.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WNC.

Wabash National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASTE	71 Outperform	1.09B	23.95	6.80%	1.09%	1.17%	0.00%
MTW	63 Neutral	356.01M	7.96	6.59%	―	-1.96%	423.46%
HY	61 Neutral	657.48M	29.78	4.08%	3.80%	-7.11%	-87.41%
TWI	58 Neutral	508.61M	-23.97	-3.87%	―	-1.29%	-171.86%
WNC	51 Neutral	$442.95M	―	-23.48%	2.99%	-25.02%	-171.64%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Wabash National Corporate Events

Wabash National Highlights Strategic Growth at Investor Conference

On June 3, 2025, Wabash National Corporation presented at an investor conference, highlighting its strategic growth plans and the challenges faced in 2025 due to difficult operating conditions and tariff uncertainties. The company emphasized its ability to generate cash and maintain liquidity despite these challenges, leveraging its broad portfolio and patient debt structure. The presentation also included forward-looking statements about the company’s outlook for trailer and truck body shipments, demand levels, and financial performance, while acknowledging risks and uncertainties that could impact actual results.