Westinghouse Air Brake Technologies debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$6,571M

Cash & equivalents

USD millions

—

Net debt

USD millions

—

Debt / equity

0.58×

Debt / assets

28.41%

Net debt / EBITDA

× · TTM

—

Debt / FCF

× · TTM

3.83×

Interest coverage

× · TTM

6.92×

Current ratio

1.12×

Diluted shares

Million shares

169.6M shares

Basic shares

Million shares

169.1M shares

Share count growth

-0.88%

Share repurchases

USD millions

$215M

Quarterly data

Westinghouse Air Brake Technologies capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	6,571	—	—	0.58×	28.41%	—	3.83×	6.92×	1.12×	169.6	169.1	-0.88%	215
FY 2026 Q1	Mar 31, 2026	6,538	—	—	0.59×	28.19%	—	4.34×	7.34×	1.02×	170.7	170	-0.29%	242
FY 2025 Q4	Dec 31, 2025	5,541	—	—	0.5×	25.11%	—	3.7×	7.97×	1.11×	170.8	170.5	-0.36%	75
FY 2025 Q3	Sep 30, 2025	5,285	—	—	0.48×	24.55%	—	4.17×	8.43×	1.42×	171.1	170.5	-1.67%	0
FY 2025 Q2	Jun 30, 2025	4,784	—	—	0.44×	23.46%	—	3.29×	8.7×	1.76×	171.2	170.6	-2.74%	50
FY 2025 Q1	Mar 31, 2025	4,007	—	—	0.38×	20.98%	—	2.72×	8.36×	1.34×	171.3	170.5	-3.4%	98
FY 2024 Q4	Dec 31, 2024	3,980	—	—	0.39×	21.28%	—	2.45×	8×	1.3×	172.12	171.12	-3.82%	123
FY 2024 Q3	Sep 30, 2024	4,017	—	—	0.39×	21.55%	—	2.52×	—	1.3×	174.1	173.4	-2.91%	599
FY 2024 Q2	Jun 30, 2024	3,997	—	—	0.38×	21.18%	—	2.69×	—	1.38×	176	175.4	-1.96%	200
FY 2024 Q1	Mar 31, 2024	4,000	—	—	0.38×	21.34%	—	2.91×	—	1.52×	177.2	176.5	-1.89%	175
FY 2023 Q4	Dec 31, 2023	4,069	—	—	0.39×	21.43%	—	4.01×	5.81×	1.2×	178.91	177.91	-1.71%	157
FY 2023 Q3	Sep 30, 2023	4,047	—	—	0.39×	21.53%	—	5.4×	—	1.19×	179.2	178.6	-1.49%	0
FY 2023 Q2	Jun 30, 2023	4,390	—	—	0.43×	23.12%	—	8.21×	—	1.12×	179.4	178.9	-1.65%	74
FY 2023 Q1	Mar 31, 2023	4,164	—	—	0.41×	22.3%	—	6.03×	—	1.08×	180.6	179.9	-2.49%	178
FY 2022 Q4	Dec 31, 2022	4,002	—	—	0.39×	21.61%	—	4.5×	5.44×	1.25×	181.91	181.01	-2.79%	73
FY 2022 Q3	Sep 30, 2022	4,075	514	3,561	0.41×	22.31%	2.36×	5.04×	—	1.26×	181.9	181.3	-3.36%	1
FY 2022 Q2	Jun 30, 2022	4,213	501	3,712	0.42×	22.98%	2.53×	4.92×	—	1.27×	182.4	181.9	-3.55%	103
FY 2022 Q1	Mar 31, 2022	4,239	488	3,751	0.42×	22.99%	2.65×	5.18×	—	1.36×	185	184.5	-2.12%	296
FY 2021 Q4	Dec 31, 2021	4,058	473	3,585	0.4×	21.99%	2.62×	4.3×	—	1.32×	186.62	186.22	-1.63%	99.7
FY 2021 Q3	Sep 30, 2021	4,071	—	—	0.4×	22.18%	—	4.2×	—	1.34×	188	187.6	-1.16%	199.1
FY 2021 Q2	Jun 30, 2021	4,080.2	453.5	3,626.7	0.4×	22.04%	2.9×	4.31×	—	1.34×	188.9	188.6	-0.63%	0
FY 2021 Q1	Mar 31, 2021	4,277.2	483.5	3,793.7	0.42×	23.07%	3.17×	4.16×	—	1.19×	188.9	188.5	-1.21%	1.2
FY 2020 Q4	Dec 31, 2020	4,239.4	598.7	3,640.7	0.42×	22.97%	2.99×	6.55×	—	1.2×	189.8	189.3	-1.49%	101.9
FY 2020 Q3	Sep 30, 2020	4,254.7	559.3	3,695.4	0.42×	23.07%	2.9×	5.79×	—	1.22×	190.2	189.8	0.11%	0
FY 2020 Q2	Jun 30, 2020	4,465.8	587.9	3,877.9	0.45×	24.18%	3.12×	7.33×	—	1.14×	190.2	189.8	7.02%	0
FY 2020 Q1	Mar 31, 2020	4,747.9	615.9	4,132	0.48×	25.29%	3.24×	6.66×	—	1.42×	191.4	190.8	57.39%	105.3
FY 2019 Q4	Dec 31, 2019	4,429.3	604.2	3,825.1	0.44×	23.38%	3.59×	5.34×	—	1.29×	192.43	192.16	99.82%	0
FY 2019 Q3	Sep 30, 2019	4,745.3	587.4	4,157.9	0.49×	25.11%	4.91×	6.75×	—	1.38×	191.5	189.6	97.07%	0
FY 2019 Q2	Jun 30, 2019	4,633.18	461.37	4,171.81	0.47×	24.46%	5.89×	8.05×	—	1.32×	191.45	177.35	84.75%	0
FY 2019 Q1	Mar 31, 2019	4,962.59	512.87	4,449.72	0.51×	26.01%	8.14×	22.95×	—	1.35×	121.23	121.23	26.53%	0
FY 2018 Q4	Dec 31, 2018	3,856.87	580.91	3,275.97	1.34×	44.59%	5.62×	17.42×	—	2.7×	96.55	96.17	-0.15%	—
FY 2018 Q3	Sep 30, 2018	3,865.1	411.38	3,453.72	1.33×	45.19%	5.95×	36.16×	—	2.84×	96.64	96.21	0.52%	—
FY 2018 Q2	Jun 30, 2018	1,884.92	245.57	1,639.35	0.66×	28.23%	2.96×	10.49×	—	1.52×	96.58	95.99	0.37%	—
FY 2018 Q1	Mar 31, 2018	1,920.63	249.89	1,670.75	0.64×	27.93%	3.07×	12.68×	—	1.5×	96.37	95.81	0.6%	—
FY 2017 Q4	Dec 31, 2017	1,870.53	233.4	1,637.13	0.66×	28.43%	3.12×	18.83×	—	1.44×	97.07	96.31	7.25%	0
FY 2017 Q3	Sep 30, 2017	1,873.9	228.08	1,645.82	0.68×	29.05%	3.35×	12.48×	—	1.55×	96.32	95.71	6.83%	0
FY 2017 Q2	Jun 30, 2017	1,985.3	328.52	1,656.78	0.77×	30.83%	3.32×	13.05×	—	1.58×	96.28	95.64	6.45%	0
FY 2017 Q1	Mar 31, 2017	1,870	280.18	1,589.82	0.79×	31.01%	3.12×	6.52×	—	1.47×	95.99	95.24	4.37%	0
FY 2016 Q4	Dec 31, 2016	1,892.78	398.48	1,494.29	0.64×	28.76%	2.83×	4.74×	—	1.98×	90.62	89.8	-6.35%	0
FY 2016 Q3	Sep 30, 2016	819.9	250.38	569.52	0.47×	23.92%	0.93×	2.09×	—	2.71×	90.29	89.59	-7.04%	78.44
FY 2016 Q2	Jun 30, 2016	744.25	302.94	441.32	0.43×	22.02%	0.68×	1.48×	—	2.56×	90.56	89.85	-6.74%	0
FY 2016 Q1	Mar 31, 2016	801.98	262.77	539.21	0.48×	23.72%	0.81×	1.86×	—	2.56×	92.15	91.26	-5.18%	133.74
FY 2015 Q4	Dec 31, 2015	695.73	226.19	469.54	0.41×	21.08%	0.7×	1.74×	—	2.43×	96.54	95.89	0.01%	365.45
FY 2015 Q3	Sep 30, 2015	451.02	208.24	242.78	0.23×	13.56%	0.37×	1.01×	—	2.52×	97.37	96.37	0.45%	22.34
FY 2015 Q2	Jun 30, 2015	400.83	264.84	135.98	0.2×	12.15%	0.21×	1.01×	—	2.26×	97.44	96.34	0.3%	0
FY 2015 Q1	Mar 31, 2015	420.99	249.14	171.85	0.23×	13.29%	0.28×	0.96×	—	2.16×	97.39	96.24	0.75%	0
FY 2014 Q4	Dec 31, 2014	521.2	425.85	95.35	0.29×	15.78%	0.16×	1.23×	—	2.22×	97.04	95.89	0.2%	0
FY 2014 Q3	Sep 30, 2014	522.04	212.54	309.5	0.29×	16.17%	0.55×	1.57×	—	2.27×	97	95.94	0.09%	10.14
FY 2014 Q2	Jun 30, 2014	500.9	225.91	274.99	0.28×	15.83%	0.52×	1.77×	—	2.28×	97.06	96.05	0.3%	14.47
FY 2014 Q1	Mar 31, 2014	450.63	295.1	155.53	0.27×	15.45%	0.31×	2.39×	—	2.47×	96.81	95.53	0.53%	2.15
FY 2013 Q4	Dec 31, 2013	450.71	285.76	164.95	0.28×	15.97%	0.34×	2.32×	—	2.3×	97.06	95.7	0.23%	27.51
FY 2013 Q3	Sep 30, 2013	539.69	281.01	258.68	0.36×	19.16%	0.54×	3.1×	—	2.48×	97.17	95.85	0.59%	—
FY 2013 Q2	Jun 30, 2013	396.96	214.51	182.45	0.28×	15.77%	0.39×	1.82×	—	2.27×	97.1	95.76	0.1%	—
FY 2013 Q1	Mar 31, 2013	417.57	225.34	192.23	0.31×	16.66%	0.43×	1.77×	26.3×	2.08×	96.57	95.02	-0.41%	—
FY 2012 Q4	Dec 31, 2012	317.94	215.77	102.17	0.25×	13.52%	0.23×	1.58×	26.29×	1.98×	96.81	95.48	-0.12%	18.56
FY 2012 Q3	Sep 30, 2012	432.9	282.06	150.84	0.35×	18.07%	0.37×	1.95×	292.87×	2.19×	96.54	95.29	-0.48%	—
FY 2012 Q2	Jun 30, 2012	443.13	234.11	209.03	0.38×	19%	0.54×	2.58×	—	2.08×	96.84	95.67	-0.24%	—
FY 2012 Q1	Mar 31, 2012	385.87	269.3	116.57	0.34×	17.39%	0.34×	2.01×	—	2.08×	96.68	95.41	-0.06%	—
FY 2011 Q4	Dec 31, 2011	395.94	285.62	110.33	0.38×	18.34%	0.35×	1.88×	—	1.95×	96.67	95.6	0.3%	—
FY 2011 Q3	Sep 30, 2011	406.16	221.14	185.02	0.4×	20.25%	0.63×	2.39×	15.91×	2.1×	96.75	95.75	0.41%	—
FY 2011 Q2	Jun 30, 2011	396.26	221.48	174.78	0.39×	19.7%	0.65×	2.13×	13.88×	2.04×	96.93	95.9	0.47%	—
FY 2011 Q1	Mar 31, 2011	400.07	200.69	199.38	0.41×	21.09%	0.77×	2.57×	12.54×	2.21×	96.5	95.48	—	—
FY 2010 Q4	Dec 31, 2010	422.08	236.94	185.13	0.47×	23.41%	0.77×	2.72×	12.69×	2.3×	96.3	95.31	—	—
FY 2010 Q3	Sep 30, 2010	409.84	176.81	233.03	0.47×	24.03%	—	—	—	2.33×	96.13	95.35	—	—
FY 2010 Q2	Jun 30, 2010	407.94	166.51	241.44	0.51×	24.99%	—	—	—	2.36×	96.18	95.45	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · WAB, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.