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Wabash National WNC Debt-to-equity

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Other financials

Income statement

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Revenue$303.2M-20.4%
Gross profit-$10.6M-156%
Operating income-$52.4M-117%
Net income-$45.2M-120%
EPS (diluted)-$1.11-121%

Balance sheet

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Cash & equivalents$43.4M-46.4%
Total debt$531.0M+17.1%
Total equity$320.6M-20.6%
Total assets$1.2B-13.1%

Cash flow

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Operating cash flow-$33.7M-12,272%
CapEx$3.4M-60.6%
Free cash flow-$37.1M-313%

Valuation

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Market cap$567M+32.6%
Enterprise value$1.05B+31.8%
P/S0.4×+0.2×

Profitability

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Gross margin2.8%-8.7pp
Operating margin22.4%+16.2pp
Net margin-4.4%+0.6pp
FCF margin-2.8%-6.8pp

Returns & leverage

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Return on equity-17.9%+4.2pp
Current ratio1.3×-0.3×

Where this comes from

Calculated from Wabash National’s reported figures.

Based on the most recent quarter.

The official record: Wabash National’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wabash National's debt-to-equity?
Wabash National (WNC) reported debt-to-equity of 1.7× in Q1 2026.
How has Wabash National's debt-to-equity changed year-over-year?
Wabash National's debt-to-equity increased by 47.5% year-over-year, from 1.1× to 1.7×.
What is the long-term trend for Wabash National's debt-to-equity?
Over 5 years (2020 to 2025), Wabash National's debt-to-equity has grown at a 2.8% compound annual growth rate (CAGR), from 1.1× to 1.3×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.