Westinghouse Air Brake Technologies Corporation

DB:WB2 Stock Report

Market Cap: €33.4b

Westinghouse Air Brake Technologies Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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.

Below Fair Value: WB2 (€190.3) is trading above our estimate of fair value (€185.98)

Significantly Below Fair Value: WB2 is trading above our estimate of fair value.

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 Ratio33.4x
EarningsUS$1.06b
Market CapUS$35.34b

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 Average11.4x
DTG Daimler Truck Holding
8.1x11.9%€27.3b
8TRA Traton
5.5x8.4%€14.1b
KBX Knorr-Bremse
19.3x10.8%€11.6b
KGX KION GROUP
12.9x17.2%€4.3b
WB2 Westinghouse Air Brake Technologies
33.4x16.4%€35.3b

Price-To-Earnings vs Peers: WB2 is expensive based on its Price-To-Earnings Ratio (33.4x) compared to the peer average (11.4x).

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 33.4xIndustry Avg. 14.9xNo. of Companies6PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WB2 is expensive based on its Price-To-Earnings Ratio (33.4x) compared to the German Machinery industry average (14.7x).

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 Ratio33.4x
Fair PE Ratio23.4x

Price-To-Earnings vs Fair Ratio: WB2 is expensive based on its Price-To-Earnings Ratio (33.4x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).

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€190.30
€205.41
+7.9%
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
€167.21
+12.8%
12.0%€211.83€125.26n/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€105.49n/a11
Dec ’24€109.30
€119.44
+9.3%
8.3%€137.82€105.66n/a11
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
Dec ’23€96.26
€99.44
+3.3%
8.6%€116.81€83.99€109.3012
Nov ’23€94.57
€103.52
+9.5%
8.6%€122.50€88.08€99.9812

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

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