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Wabash National Corporation (WNC) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Wabash National Corporation $12.45, price $11.76, upside +5.8%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Industrials · US · ISIN US9295661071

WN Wabash National Corporation logo Some data Sep 23, 2026

Wabash National Corporation

WNC · US

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value $12.45 · Fairly valued (+6%)
!Quality 59/100
!Weak Growth (revenue 5y +0.8 %/yr)
!Loss over the last twelve months · -4.4% net margin (TTM) · fiscal year 2025 13.7%
!Moderate debt · negative free cash flow
·2.72% dividend yield
!Mixed vs. peers (6/13)
!Narrow moat 13/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$28.31 $6.68 Fair Value $12.45 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $6.68 – $28.31 · fair‑value band $8.79 – $16.87 · the $11.76 price screens below the $12.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Wabash National Corporation manufactures engineered solutions and services for transportation, logistics and infrastructure industry in the United States. The company operates in two segments, Transportation Solutions and Parts & Services.

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Wabash National Corporation manufactures engineered solutions and services for transportation, logistics and infrastructure industry in the United States. The company operates in two segments, Transportation Solutions and Parts & Services. It offers dry van trailers, platform trailers, refrigerated trailers, stainless steel and aluminum tank trailers, and used trailors; dry freight truck bodies, cargo bodies, insulated and light-duty acutherm refrigerated truck bodies, and platform truck bodies; and laminated hardwood oak flooring. The company also provides aftermarket parts and services; steel flatbed bodies, truck body mounting, shelving for package delivery, partitions, roof racks, hitches, thermal solutions, liftgates, and other; door repair and replacement, collision repair, and basic maintenance; stainless steel storage tanks and silos, mixers, and processors for the dairy, food and beverage, pharmaceutical, chemical, craft brewing, and biotech end markets; and truck bodies, overhead doors, and other industrial applications. In addition, it offers maintenance and repair services for tank trailers and other related equipment; direct-line access to truck body repair parts; and trailers as a service, as well as develops and scales a digital marketplace for the transportation and logistics distribution industry. The company offers its products under the Wabash, MaxClearance, Trust Lock Plus, EZ-7, Lock-Rite, EZ-Adjust, DuraPlate, DuraPlateHD, DuraPlate AeroSkirt, and AeroSkirt CX brands, and EcoNex brand. Wabash National Corporation was founded in 1985 and is headquartered in Lafayette, Indiana.

Stock analysis

Wabash National Corporation (WNC) currently trades at $11.76, while our model-based Fair Value estimate is $12.45, implying the stock looks roughly 5.5% fairly valued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $94.33 per share, and 14 of the 17 models we run sit above the $11.76 price.

Bear case: the Dividend Discount group reads lowest at $3.97, and 3 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: $8.79 (bear) to $16.87 (bull), the price of $11.76 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 59/100 (solid quality), in the Industrials sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Wabash National Corporation reported revenue of $1.5B in FY2025 versus $1.8B in FY2021, a compound −3.8%/yr. Reported net income was $211M in FY2025, compounding +267.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap $533M · P/S ratio 0.36 · EPS (TTM) $−1.43 · Dividend yield 2.7% · Net margin 13.7% · Return on equity −17.8% · Return on assets (EBIT) 8.4% · Operating margin −17.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 18% below its 52-week high and 74% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at 6%, WNC screens richer than that median.

Fair Value models

Bear $8.79 Fair Value $12.45 Bull $16.87
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings $49.36 $74.13 $106.46 76
EPV $38.98 $45.67 $51.25 74
ROIC Compounder $41.35 $51.24 $61.43 72
All 17 models by family
DCF Models
Owner Earnings $49.36 $74.13 $106.46 76
Earnings-Based
Graham-Dodd $35.35 $102.17 $134.84 65
Lynch FV $21.11 $30.15 $39.20 61
PEG = 1.0 $21.11 $30.15 $39.20 57
EPV $38.98 $45.67 $51.25 74
Dividend Discount
Gordon GGM $2.63 $4.74 $6.53 68
DDM Multi-Stage $2.63 $3.97 $5.07 67
Multiples
P/E Multiple $81.88 $109.17 $136.47 63
P/S Multiple $56.89 $75.86 $94.82 58
P/B Multiple $30.48 $40.64 $50.80 55
EV/EBIT $90.54 $124.09 $157.63 66
EV/EBITDA $80.94 $111.28 $141.63 67
EV/Revenue $37.69 $58.17 $78.65 53
Asset-Based
NCAV (Graham) $4.52 $6.05 $9.03 54
Economic Profit
Residual Income $48.86 $102.00 $3,315 64
ROIC Compounder $41.35 $51.24 $61.43 72
Growth Earnings
Growth-Adj P/E $66.03 $94.33 $122.63 67

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Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 44

Profitability 74
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 21/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−20.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−14.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
Start year 2020 (pandemic). Over 10 years: −2.7% a year
Revenue growth 35 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.5%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+71.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+68.4%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.44% vs 13%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−6% → 21%
Start year 2020 (pandemic)

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Farm & Heavy Construction Machinery · 154 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 59 · Above median
Fair Value upside +6% · Above median
Profitability
Return on assets −2% · Bottom 25%
Net margin (TTM) −4% · Bottom 25%
Operating margin (TTM) −18% · Bottom 25%
Growth and dividend
Revenue growth −20% · Bottom 25%
Dividend yield (TTM) 2.7% · Above median
Balance sheet
Debt / equity 1.21× · Highest 25%

Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper

P/B 1.45× · Cheaper than median
P/S (TTM) 0.36× · Cheapest 25%
EV/EBITDA 74.2× · Priciest 25%
PEG 0.73× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)41 · sector 40
FUTURE (revenue growth)0 · sector 30
PAST (return on equity)0 · sector 34
HEALTH (low debt)40 · sector 93
DIVIDEND (yield)54 · sector 41

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $808.01 $307.83 −62%
Deere & Company DE $703.12 $259.59 −63%
PACCAR Inc PCAR $113.90 $125.29 +10%
Daimler Truck Holding DTG €43.20 €50.31 +16%
Exor N.V EXO €72.85 €139.72 +92%
Sany Heavy Industry Co 600031 ¥17.72 ¥20.84 +18%
Traton SE 8TRA €35.96 €32.88 −9%
Metso Oyj METSO €18.09 €19.90 +10%
XCMG Construction Machinery Co 000425 ¥7.30 ¥14.52 +99%
Sinotruk (Hong Kong) Limited 3808 HK$36.80 HK$56.39 +53%

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Wabash National Corporation · Fair Value
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Cite: Fair Value Calculator (2026). "Wabash National Corporation Fair Value". https://www.fairvalue-calculator.com/stock/WNC

Frequently asked questions

Is Wabash National Corporation (WNC) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $12.45 versus a price of $11.76, about +6% upside (fairly valued).
What is the fair value of WNC?
Our model-based fair value for Wabash National Corporation is $12.45 (as of Sep 23, 2026), built from audited fundamentals. The current price: $11.76.
What is the quality score of WNC?
Wabash National Corporation has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Wabash National Corporation (WNC)?
Our model-based price target is the fair value of $12.45 (as of Sep 23, 2026) from 17 valuation models. Cautious scenario $8.79, optimistic scenario $16.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Wabash National Corporation stock forecast for 2026?
Our models put fair value at $12.45, about +6% upside versus a price of $11.76 (fairly valued). Cautious scenario $8.79, optimistic scenario $16.87. The calculation is refreshed regularly with new filings.
What is the revenue of Wabash National Corporation (WNC)?
Wabash National Corporation reported trailing-twelve-month revenue of about $1.5B (latest available figure, as of Sep 23, 2026).
Does Wabash National Corporation pay a dividend?
Wabash National Corporation currently shows a dividend yield of about 2.72% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Wabash National Corporation (WNC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wabash National Corporation it is $12.45 per share (as of Sep 23, 2026), against a price of $11.76. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Wabash National Corporation stock overvalued or undervalued in 2026?
As of Sep 23, 2026, WNC trades below its calculated fair value: price $11.76, fair value $12.45, a gap of about +6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WNC?
No. The price is what the market pays today ($11.76); the fair value is what the company's own numbers justify ($12.45). For Wabash National Corporation the two are $0.6870 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wabash National Corporation worth?
The market values Wabash National Corporation at about $533M (market capitalisation, as of Sep 23, 2026). Per share that is $11.76; our models calculate a fair value of $12.45 per share.
What do the bullish and bearish scenarios say about WNC?
Our models span a range for Wabash National Corporation: cautious scenario $8.79, base $12.45, optimistic $16.87 per share (as of Sep 23, 2026, price $11.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of WNC?
The PEG ratio of Wabash National Corporation is 0.73 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Wabash National Corporation (WNC)?
Balance-sheet figures for Wabash National Corporation (as of Sep 23, 2026): return on equity −17.8%, debt of 1.21 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is WNC from its 52-week high?
Wabash National Corporation trades at $11.76, about 18% below its 52-week high of $14.31 and 74% above the low of $6.77 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $12.45 is for.
Which stocks are comparable to Wabash National Corporation?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Wabash National Corporation stock attractive at the current price?
The data as of Sep 23, 2026: price $11.76, calculated fair value $12.45 (+6%), Quality Score 59/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WNC calculated?
We run Wabash National Corporation through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $12.45, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Wabash National Corporation currently trades 6 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Wabash National Corporation (WNC)?
The closing price on Sep 23, 2026 was $11.76. Our model-based fair value is $12.45, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wabash National Corporation right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($8.79 to $16.87) leaves room in how you read the outcome.
Where does the earnings growth of Wabash National Corporation (WNC) come from?
Earnings per share at Wabash National Corporation grew +15.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.6 %, EBIT margin +6.5 %, tax rate +2.1 %, residual (interest, one-offs) +0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Wabash National Corporation

How large is the market capitalisation of Wabash National Corporation (WNC)?
The market capitalisation of Wabash National Corporation is $533M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Wabash National Corporation (WNC)?
The price-to-sales ratio of Wabash National Corporation is 0.36 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Wabash National Corporation (WNC)?
Earnings per share at Wabash National Corporation are $−1.43. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wabash National Corporation (WNC)?
The dividend yield of Wabash National Corporation is 2.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Wabash National Corporation (WNC)?
The net margin of Wabash National Corporation is 13.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Wabash National Corporation (WNC)?
The return on equity (ROE) of Wabash National Corporation is −17.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Wabash National Corporation (WNC)?
On an EBIT basis the return on assets of Wabash National Corporation is 8.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Wabash National Corporation (WNC)?
The operating margin of Wabash National Corporation is −17.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wabash National Corporation (WNC)?
Revenue at Wabash National Corporation is growing −20.4% versus a year earlier (3y avg −14.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Wabash National Corporation (WNC)?
Earnings per share at Wabash National Corporation are growing +12.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Wabash National Corporation (WNC) generate?
The free cash flow of Wabash National Corporation is −$13.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Wabash National Corporation (WNC) carry?
The net debt of Wabash National Corporation is $411M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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