Westinghouse Air Brake Technologies Corporation

DB:WB2 Stock Report

Market Cap: €34.1b

Westinghouse Air Brake Technologies Valuation

Is WB2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of WB2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€205.66
Fair Value
1.7% undervalued intrinsic discount
10
Number of Analysts

Below Fair Value: WB2 (€202.1) is trading below our estimate of fair value (€205.66)

Significantly Below Fair Value: WB2 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WB2?

Key metric: As WB2 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WB2. This is calculated by dividing WB2's market cap by their current earnings.
What is WB2's PE Ratio?
PE Ratio33.6x
EarningsUS$1.06b
Market CapUS$35.55b

Price to Earnings Ratio vs Peers

How does WB2's PE Ratio compare to its peers?

The above table shows the PE ratio for WB2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
DTG Daimler Truck Holding
10x10.6%€33.2b
8TRA Traton
5.9x8.0%€14.9b
KBX Knorr-Bremse
20.3x14.2%€11.7b
KGX KION GROUP
14.1x17.2%€4.6b
WB2 Westinghouse Air Brake Technologies
33.6x16.6%€35.5b

Price-To-Earnings vs Peers: WB2 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the peer average (12.6x).

Price to Earnings Ratio vs Industry

How does WB2's PE Ratio compare vs other companies in the DE Machinery Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
WB2 33.6xIndustry Avg. 16.6xNo. of Companies5PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WB2 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the German Machinery industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is WB2's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WB2 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.6x
Fair PE Ratio22.9x

Price-To-Earnings vs Fair Ratio: WB2 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the estimated Fair Price-To-Earnings Ratio (22.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst WB2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€202.10
€209.71
+3.8%
8.8%€233.54€177.22n/a10
Jan ’26€182.25
€207.29
+13.7%
9.1%€233.18€174.76n/a10
Dec ’25€190.75
€205.41
+7.7%
8.5%€233.35€173.86n/a10
Nov ’25€172.15
€189.03
+9.8%
9.8%€212.38€147.10n/a10
Oct ’25€162.85
€164.89
+1.3%
12.1%€209.70€123.46n/a11
Sep ’25€150.75
€164.89
+9.4%
12.1%€209.70€123.46n/a11
Aug ’25€148.20
€167.37
+12.9%
12.0%€212.04€125.38n/a11
Jul ’25€145.70
€165.32
+13.5%
12.1%€203.61€127.02n/a11
Jun ’25€156.00
€161.59
+3.6%
12.0%€200.71€125.22n/a12
May ’25€151.40
€158.82
+4.9%
15.2%€204.22€124.95n/a12
Apr ’25€134.15
€138.50
+3.2%
13.8%€192.51€119.74n/a12
Mar ’25€129.15
€138.73
+7.4%
13.3%€192.87€119.96n/a13
Feb ’25€118.00
€130.65
+10.7%
15.3%€191.13€111.19n/a13
Jan ’25€114.25
€120.25
+5.3%
7.5%€137.60€105.49€182.2511
Dec ’24€109.30
€119.44
+9.3%
8.3%€137.82€105.66€190.7511
Nov ’24€99.98
€119.90
+19.9%
7.6%€135.63€108.32€172.1510
Oct ’24€101.35
€119.67
+18.1%
5.1%€128.29€108.62€162.8510
Sep ’24€104.25
€117.32
+12.5%
4.9%€125.57€106.33€150.7511
Aug ’24€108.00
€116.11
+7.5%
3.6%€122.46€109.76€148.2011
Jul ’24€100.50
€106.65
+6.1%
6.1%€119.61€96.61€145.7011
Jun ’24€85.88
€104.33
+21.5%
6.1%€117.94€95.26€156.0012
May ’24€87.90
€104.33
+18.7%
6.1%€117.94€95.26€151.4012
Apr ’24€91.00
€109.25
+20.1%
6.0%€125.84€100.48€134.1512
Mar ’24€96.13
€109.25
+13.6%
6.0%€125.84€100.48€129.1512
Feb ’24€93.98
€101.46
+8.0%
7.9%€123.32€87.43€118.0012
Jan ’24€93.13
€100.24
+7.6%
7.9%€114.15€89.62€114.2512
Analyst Price Target
Consensus Narrative from 10 Analysts
€210.60
Fair Value
4.0% undervalued intrinsic discount
10
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/30 09:45
End of Day Share Price 2025/01/30 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Westinghouse Air Brake Technologies Corporation is covered by 35 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kristine KubackiAvondale Partners
Gunnar CohrsBerenberg
Kenneth HoexterBofA Global Research