WNC FINANCIAL STATEMENTS

Wabash National Corporation — balance sheet, income statement and cash flow trends

WNCWabash National Corporation

🇺🇸 USA · NYSE · Industrials · Farm & Heavy Construction Machinery

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.5 B $-19.2%

Gross Profit25.5 M $-87.7%

Operating Income-47.6 M $—

EBITDA-3.2 M $—

Net Income-64.6 M $—

Peer Comparison· Farm & Heavy Construction Machinery

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WNC	-19.2%	1.7%	-0.2%	-4.4%
TTRAK	-33.9%	12.6%	7.7%	-2.1%
KARSN	49.0%	29.2%	21.2%	2.7%
TMSN	-74.1%	-6.5%	-35.3%	-116.1%
IMD	10.4%	29.2%	28.8%	10.8%
KATMR	32.9%	46.2%	44.2%	33.6%
Industry median	0.8%	25.5%	13.5%	4.3%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WNC	-19.2%	1.7%	-0.2%	-4.4%
HY	-12.2%	15.8%	-0.2%	-2.7%
TWI	-0.6%	13.6%	3.6%	-4.7%
MTW	5.1%	18.1%	5.0%	0.3%
CMCO	23.9%	29.6%	-5.1%	-19.2%
LNN	-7.4%	29.5%	13.6%	8.8%
Industry median	0.8%	25.5%	13.5%	4.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity320.6 M $26%
Current Liabilities352.7 M $29%
Long-term Liabilities554.6 M $45%

Key Figures

YoY change

Total Assets1.2 B $-13.1%

Total Liabilities907.4 M $-10.2%

Total Equity320.6 M $-20.6%

Cash & ST Investments43.4 M $-46.4%

Total Debt530.9 M $+17.1%

Net Debt487.5 M $+30.9%

Peer Comparison· Farm & Heavy Construction Machinery

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WNC	1.33	165.6%	-153.26	26.1%
TTRAK	1.08	96.9%	2.34	39.3%
KARSN	1.00	116.9%	1.97	34.2%
TMSN	2.40	53.1%	-8.28	54.6%
IMD	2.55	24.3%	0.81	73.8%
KATMR	2.76	22.0%	1.94	65.8%
Industry median	2.06	57.5%	0.97	44.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WNC	1.33	165.6%	-153.26	26.1%
HY	1.31	117.5%	-50.42	22.0%
TWI	2.19	149.2%	8.66	28.9%
MTW	2.10	72.8%	3.74	37.2%
CMCO	2.02	165.2%	-37.62	30.3%
LNN	2.93	26.8%	-0.25	60.7%
Industry median	2.06	57.5%	0.97	44.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-21.7 M $-116.2%

Capital Expenditures19.4 M $-68.5%

Free Cash Flow-41.2 M $-156.6%

Dividends Paid-13.4 M $-192.4%

Peer Comparison· Farm & Heavy Construction Machinery

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WNC	-1.5%	-2.8%	1.3%	33.6%
TTRAK	12.2%	6.8%	5.5%	-588.5%
KARSN	7.8%	2.4%	5.5%	292.4%
TMSN	-403.7%	-72.4%	45.1%	347.7%
IMD	25.4%	13.5%	11.9%	234.8%
KATMR	-53.4%	-48.9%	3.0%	-158.8%
Industry median	8.6%	5.7%	2.9%	153.3%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WNC	-1.5%	-2.8%	1.3%	33.6%
HY	2.5%	0.8%	1.7%	-90.3%
TWI	1.2%	-1.7%	2.9%	-25.4%
MTW	1.6%	0.1%	1.5%	489.3%
CMCO	-12.3%	-13.7%	1.5%	63.7%
LNN	15.1%	7.2%	7.9%	171.5%
Industry median	8.6%	5.7%	2.9%	153.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.