Paccar vs Wabtec
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KIRA’s take AI analyst
I put Paccar and Wabtec side by side, using each one’s latest annual report. Here is what stands out:
- Paccar is the larger business, with $28.4B of revenue in fiscal 2025 against $11.2B for Wabtec, about 2.5 times as much.
- Wabtec grew revenue faster (7.5%, against −15.5%).
- Wabtec turned more of its sales into free cash flow (13.4% FCF margin, against 12.9%).
- Investors pay more for each dollar of Wabtec’s earnings: a P/E of 34.5x against 21.9x for Paccar.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Paccar
PCAR
2/7
5-year growthReturn on equity
Wabtec
WAB
5/7
Revenue growthGross marginNet marginFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | PCAR FY25 | WAB FY25 |
|---|---|---|
| Size | ||
| Market cap | $55.1B | $46.9B |
| Revenue | $28.4B | $11.2B |
| Free cash flow | $3.7B | $1.5B |
| Net income | $2.4B | $1.2B |
| Growth | ||
| Revenue growth | −15.5% | 7.5% |
| 5-year growth | 8.7% | 8.1% |
| Share count change | 0.0% | −2.1% |
| Profitability | ||
| Gross margin | 20.1% | 34.1% |
| Operating margin | — | 16.1% |
| Net margin | 8.4% | 10.5% |
| FCF margin | 12.9% | 13.4% |
| Return on capital | — | 9.1% |
| Return on equity | 12.9% | 11.0% |
| Balance sheet | ||
| Net debt | — | $4.8B |
| Net debt / EBITDA | — | 2.1x |
| Dividends and buybacks | $2.3B | $396M |
| Valuation & quality | ||
| P/E | 21.9x | 34.5x |
| Piotroski F-score | — | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.