Wabash National Corporation (WNC) - Net Assets
Based on the latest financial reports, Wabash National Corporation (WNC) has net assets worth $368.54 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.17 Billion) and total liabilities ($802.70 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Wabash National Corporation to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $368.54 Million |
| % of Total Assets | 31.47% |
| Annual Growth Rate | 9.52% |
| 5-Year Change | 13.21% |
| 10-Year Change | -21.98% |
| Growth Volatility | 120.37 |
Wabash National Corporation - Net Assets Trend (1990–2025)
This chart illustrates how Wabash National Corporation's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Wabash National Corporation for the complete picture of this company's asset base.
Annual Net Assets for Wabash National Corporation (1990–2025)
The table below shows the annual net assets of Wabash National Corporation from 1990 to 2025. For live valuation and market cap data, see market cap of Wabash National Corporation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $368.54 Million | +94.15% |
| 2024-12-31 | $189.83 Million | -65.49% |
| 2023-12-31 | $550.10 Million | +38.17% |
| 2022-12-31 | $398.12 Million | +22.30% |
| 2021-12-31 | $325.54 Million | -19.60% |
| 2020-12-31 | $404.88 Million | -22.29% |
| 2019-12-31 | $520.99 Million | +9.95% |
| 2018-12-31 | $473.85 Million | -6.37% |
| 2017-12-31 | $506.06 Million | +7.13% |
| 2016-12-31 | $472.39 Million | +7.41% |
| 2015-12-31 | $439.81 Million | +12.53% |
| 2014-12-31 | $390.83 Million | +21.23% |
| 2013-12-31 | $322.38 Million | +19.97% |
| 2012-12-31 | $268.73 Million | +83.62% |
| 2011-12-31 | $146.35 Million | +13.42% |
| 2010-12-31 | $129.03 Million | +141.24% |
| 2009-12-31 | $53.48 Million | -65.14% |
| 2008-12-31 | $153.44 Million | -45.19% |
| 2007-12-31 | $279.93 Million | +0.71% |
| 2006-12-31 | $277.95 Million | -0.27% |
| 2005-12-31 | $278.70 Million | +69.35% |
| 2004-12-31 | $164.57 Million | +642.60% |
| 2003-12-31 | $22.16 Million | -70.04% |
| 2002-12-31 | $73.98 Million | -43.52% |
| 2001-12-31 | $130.99 Million | -64.33% |
| 2000-12-31 | $367.23 Million | -3.21% |
| 1999-12-31 | $379.40 Million | +9.72% |
| 1998-12-31 | $345.80 Million | +52.67% |
| 1997-12-31 | $226.50 Million | +26.96% |
| 1996-12-31 | $178.40 Million | +0.45% |
| 1995-12-31 | $177.60 Million | +15.18% |
| 1994-12-31 | $154.20 Million | +76.23% |
| 1993-12-31 | $87.50 Million | +40.90% |
| 1992-12-31 | $62.10 Million | +16.29% |
| 1991-12-31 | $53.40 Million | +249.02% |
| 1990-12-31 | $15.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Wabash National Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1951.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $303.62 Million | 82.65% |
| Common Stock | $787.00K | 0.21% |
| Other Comprehensive Income | $-398.00K | -0.11% |
| Other Components | $63.35 Million | 17.25% |
| Total Equity | $367.36 Million | 100.00% |
Wabash National Corporation Competitors by Market Cap
The table below lists competitors of Wabash National Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Power New Energy Co. Ltd. A
SHG:688184
|
$314.19 Million |
|
Consorcio ARA S. A. B. de C. V.
MX:ARA
|
$314.27 Million |
|
Morguard Real Estate Investment Trust
TO:MRT-UN
|
$314.29 Million |
|
Xinjiang Youhao Group Co Ltd
SHG:600778
|
$314.51 Million |
|
Lime Technologies AB (publ)
ST:LIME
|
$314.04 Million |
|
Hana Financial 7 SPAC
KQ:230240
|
$314.01 Million |
|
Duopharma Biotech Bhd
KLSE:7148
|
$313.97 Million |
|
Changzhou Tiansheng New Materials Co Ltd
SHE:300169
|
$313.88 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Wabash National Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 188,830,000 to 367,358,000, a change of 178,528,000 (94.5%).
- Net income of 211,451,000 contributed positively to equity growth.
- Dividend payments of 13,782,000 reduced retained earnings.
- Share repurchases of 33,772,000 reduced equity.
- Other comprehensive income increased equity by 2,831,000.
- Other factors increased equity by 11,800,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $211.45 Million | +57.56% |
| Dividends Paid | $13.78 Million | -3.75% |
| Share Repurchases | $33.77 Million | -9.19% |
| Other Comprehensive Income | $2.83 Million | +0.77% |
| Other Changes | $11.80 Million | +3.21% |
| Total Change | $- | 94.54% |
Book Value vs Market Value Analysis
This analysis compares Wabash National Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.88x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 6.88x to 0.88x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $1.13 | $7.77 | x |
| 1991-12-31 | $2.72 | $7.77 | x |
| 1992-12-31 | $3.73 | $7.77 | x |
| 1993-12-31 | $5.03 | $7.77 | x |
| 1994-12-31 | $8.52 | $7.77 | x |
| 1995-12-31 | $9.37 | $7.77 | x |
| 1996-12-31 | $9.42 | $7.77 | x |
| 1997-12-31 | $11.56 | $7.77 | x |
| 1998-12-31 | $15.63 | $7.77 | x |
| 1999-12-31 | $16.44 | $7.77 | x |
| 2000-12-31 | $16.15 | $7.77 | x |
| 2001-12-31 | $5.69 | $7.77 | x |
| 2002-12-31 | $3.11 | $7.77 | x |
| 2003-12-31 | $0.86 | $7.77 | x |
| 2004-12-31 | $5.07 | $7.77 | x |
| 2005-12-31 | $7.68 | $7.77 | x |
| 2006-12-31 | $8.85 | $7.77 | x |
| 2007-12-31 | $9.31 | $7.77 | x |
| 2008-12-31 | $5.12 | $7.77 | x |
| 2009-12-31 | $1.77 | $7.77 | x |
| 2010-12-31 | $2.59 | $7.77 | x |
| 2011-12-31 | $2.14 | $7.77 | x |
| 2012-12-31 | $3.92 | $7.77 | x |
| 2013-12-31 | $4.67 | $7.77 | x |
| 2014-12-31 | $5.50 | $7.77 | x |
| 2015-12-31 | $6.34 | $7.77 | x |
| 2016-12-31 | $7.18 | $7.77 | x |
| 2017-12-31 | $8.08 | $7.77 | x |
| 2018-12-31 | $8.11 | $7.77 | x |
| 2019-12-31 | $9.42 | $7.77 | x |
| 2020-12-31 | $7.65 | $7.77 | x |
| 2021-12-31 | $6.31 | $7.77 | x |
| 2022-12-31 | $7.97 | $7.77 | x |
| 2023-12-31 | $11.44 | $7.77 | x |
| 2024-12-31 | $4.26 | $7.77 | x |
| 2025-12-31 | $8.80 | $7.77 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Wabash National Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 57.56%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.71%
- • Asset Turnover: 1.32x
- • Equity Multiplier: 3.19x
- Recent ROE (57.56%) is above the historical average (-15.42%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 18.30% | 1.64% | 3.42x | 3.26x | $1.27 Million |
| 1991 | 12.73% | 3.57% | 2.04x | 1.75x | $1.46 Million |
| 1992 | 14.33% | 3.08% | 2.15x | 2.17x | $2.69 Million |
| 1993 | 17.83% | 4.33% | 2.00x | 2.05x | $6.85 Million |
| 1994 | 15.50% | 4.25% | 1.87x | 1.95x | $8.48 Million |
| 1995 | 14.30% | 3.46% | 1.91x | 2.16x | $7.64 Million |
| 1996 | 2.02% | 0.57% | 1.43x | 2.47x | $-14.24 Million |
| 1997 | 6.71% | 1.80% | 1.34x | 2.78x | $-7.45 Million |
| 1998 | 6.74% | 1.80% | 1.83x | 2.04x | $-11.28 Million |
| 1999 | 10.23% | 2.67% | 1.84x | 2.09x | $860.00K |
| 2000 | -1.83% | -0.51% | 1.70x | 2.13x | $-43.46 Million |
| 2001 | -177.25% | -26.89% | 1.25x | 5.29x | $-245.27 Million |
| 2002 | -75.95% | -6.86% | 1.45x | 7.64x | $-63.59 Million |
| 2003 | -258.22% | -6.44% | 2.24x | 17.92x | $-59.44 Million |
| 2004 | 35.49% | 5.61% | 2.41x | 2.63x | $41.95 Million |
| 2005 | 39.86% | 9.15% | 2.21x | 1.97x | $83.22 Million |
| 2006 | 3.39% | 0.72% | 2.36x | 2.00x | $-18.38 Million |
| 2007 | 5.82% | 1.48% | 2.28x | 1.73x | $-11.71 Million |
| 2008 | -81.24% | -14.91% | 2.52x | 2.16x | $-140.00 Million |
| 2009 | -190.27% | -30.12% | 1.51x | 4.18x | $-107.11 Million |
| 2010 | -109.87% | -22.14% | 2.11x | 2.35x | $-154.66 Million |
| 2011 | 10.28% | 1.27% | 3.06x | 2.65x | $407.40K |
| 2012 | 39.31% | 7.23% | 1.62x | 3.36x | $78.76 Million |
| 2013 | 14.43% | 2.84% | 1.77x | 2.86x | $14.29 Million |
| 2014 | 15.59% | 3.27% | 2.01x | 2.38x | $21.85 Million |
| 2015 | 23.71% | 5.14% | 2.13x | 2.16x | $60.31 Million |
| 2016 | 25.28% | 6.47% | 2.05x | 1.90x | $72.19 Million |
| 2017 | 22.02% | 6.31% | 1.31x | 2.67x | $60.82 Million |
| 2018 | 14.65% | 3.06% | 1.74x | 2.75x | $22.04 Million |
| 2019 | 17.19% | 3.86% | 1.78x | 2.50x | $37.48 Million |
| 2020 | -24.06% | -6.57% | 1.26x | 2.91x | $-137.90 Million |
| 2021 | 0.36% | 0.06% | 1.60x | 3.46x | $-31.39 Million |
| 2022 | 28.23% | 4.49% | 2.08x | 3.03x | $72.50 Million |
| 2023 | 42.08% | 9.12% | 1.86x | 2.48x | $176.30 Million |
| 2024 | -150.44% | -14.59% | 1.38x | 7.48x | $-302.95 Million |
| 2025 | 57.56% | 13.71% | 1.32x | 3.19x | $174.72 Million |
Industry Comparison
This section compares Wabash National Corporation's net assets metrics with peer companies in the Farm & Heavy Construction Machinery industry.
Industry Context
- Industry: Farm & Heavy Construction Machinery
- Average net assets among peers: $2,240,880,896
- Average return on equity (ROE) among peers: 2.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Wabash National Corporation (WNC) | $368.54 Million | 18.30% | 2.18x | $314.19 Million |
| Aebi Schmidt Holding AG - Common Stock (AEBI) | $337.96 Million | 3.31% | 2.29x | $833.98 Million |
| AGCO Corporation (AGCO) | $2.88 Billion | 9.24% | 1.25x | $8.97 Billion |
| Agrify Corp (AGFY) | $-9.27 Million | 0.00% | 0.00x | $89.44 Million |
| Alamo Group Inc (ALG) | $1.02 Billion | 11.39% | 0.42x | $2.07 Billion |
| Arts-Way Manufacturing Co Inc (ARTW) | $14.73 Million | 8.48% | 0.76x | $12.01 Million |
| Astec Industries Inc (ASTE) | $654.80 Million | 2.41% | 0.39x | $1.23 Billion |
| Blue Bird Corp (BLBD) | $-86.97 Million | 0.00% | 0.00x | $2.18 Billion |
| CEA Industries Inc. (BNC) | $-883.75K | 0.00% | 0.00x | $114.12 Million |
| Caterpillar Inc (CAT) | $17.58 Billion | 32.31% | 4.06x | $362.70 Billion |
| CEA Industries Inc (CEAD) | $14.90 Million | -40.10% | 0.41x | $6.66 Million |
About Wabash National Corporation
Wabash National Corporation manufactures engineered solutions and services for transportation, logistics and infrastructure industry in the United States. The company operates through 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 bod… Read more