$14.04

+1.58 (+12.68%)

Weekly Expected Move ±10.5%

$11 $13 $14 $16 $17

NYSE · Industrials · Agricultural - Machinery · Tech Score Neutral · Power 41 · $571.9M mcap · 37M float · 2.74% daily turnover · Short 71% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

24.8 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: -7.1% · 5Y Avg: 4.5%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. WNC has No discernible competitive edge (24.8/100). The business operates without significant structural advantages. The primary source of advantage is Cost Advantage. Negative ROIC of -7.1% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$20

Low

$20

Avg Target

$20

High

Based on 1 analyst since Jul 29, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 5Hold: 11Sell: 2Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$20.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-12	National Bank	Michael Shlisky	$9	$20	+11	+64.1%	$12.19
2026-06-17	D.A. Davidson	—	$8	$20	+12	+115.5%	$9.28
2026-05-05	D.A. Davidson	—	$9	$8	-0	+7.5%	$7.91
2025-10-23	National Bank	Michael Shlisky	$23	$9	-14	+1.7%	$8.85
2025-10-13	D.A. Davidson	—	$11	$9	-2	+3.9%	$8.66
2025-04-21	D.A. Davidson	—	$18	$11	-7	+11.0%	$9.91
2024-09-09	D.A. Davidson	Michael Shlisky	Initiated	$18	—	-3.5%	$18.65
2024-06-14	National Bank	Michael Shlisky	Initiated	$23	—	+12.7%	$20.41
2023-02-03	Raymond James	—	$27	$33	+6	+12.4%	$29.36
2023-01-06	Raymond James	—	$20	$27	+7	+18.7%	$22.75
2022-07-28	Raymond James	—	$19	$20	+1	+18.1%	$16.93
2022-07-28	Stephens	—	Initiated	$19	—	+13.8%	$16.70
2022-07-19	Raymond James	—	Initiated	$19	—	+30.5%	$14.56

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. WNC receives an overall rating of C. Areas of concern: ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-08-19	C-	C
2026-08-10	C	C-
2026-08-07	C-	C
2026-08-06	C	C-
2026-08-04	C-	C
2026-08-03	C	C-
2026-06-08	C+	C
2026-06-08	C	C+
2026-05-26	C+	C
2026-05-11	C	C+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 19 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. WNC scores highest in Earnings Quality (59/100) and lowest in Profitability (1/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

1.66

Distress Zone

Piotroski F-Score

3/9

✗ ✗ ✓ ✓ ✗ ✗ ✓ ✗ ✗

Beneish M-Score

-2.13

Unlikely Manipulator

Ohlson O-Score

-4.97

Bankruptcy prob: 0.7%

Low Risk

Credit Rating

Score: 29.4/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: 0.01x

Accruals: -5.9%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. WNC scores 1.66, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. WNC scores 3/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. WNC's score of -2.13 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. WNC's implied 0.7% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. WNC receives an estimated rating of B (score: 29.4/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-7.31x

PEG

0.04x

P/S

0.40x

P/B

1.96x

P/FCF

-34.20x

P/OCF

—

EV/EBITDA

-28.24x

EV/Revenue

0.70x

EV/EBIT

-12.42x

EV/FCF

-61.77x

Earnings Yield

-14.22%

FCF Yield

-2.92%

Shareholder Yield

3.68%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. WNC currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.752

NI / EBT

Interest Burden

1.299

EBT / EBIT

EBIT Margin

-0.056

EBIT / Rev

Asset Turnover

1.089

Rev / Assets

Equity Multiplier

3.859

Assets / Equity

ROE

-23.0%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. WNC's ROE of -23.0% is driven by financial leverage (equity multiplier: 3.86x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$14.05

Median 1Y

$12.51

5th Pctile

$5.62

95th Pctile

$27.84

Ann. Volatility

49.6%

Analyst Target

$20.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Brent L. Yeagy President, Chief Executive Officer, Director	$1,116,923	$4,315,589	$5,717,526
Michael N. Pettit Senior Vice President, Chief Growth Officer	$563,461	$1,324,102	$2,005,375
M. Kristin Glazner Senior Vice President, Chief Administrative Officer, Corporate Secretary	$517,615	$833,695	$1,461,498
Donald Winston President, e President, Chief Operating Officer	$493,462	$735,619	$1,334,209
Patrick J. Keslin Senior Vice President, Chief Financial Officer	$469,038	$588,491	$1,160,870

CEO Pay Ratio

86:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $5,717,526

Avg Employee Cost (SGA/emp): $66,217

Employees: 4,700

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

4,700

-21.7% YoY

Revenue / Employee

$328,246

Rev: $1,542,754,000

Profit / Employee

$44,990

NI: $211,451,000

SGA / Employee

$66,217

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	8.2%	0.3%	2.7%	5.5%	12.2%	31.0%	39.5%	49.6%	50.6%	48.8%	40.8%	29.6%	-64.7%	-77.0%	-15.0%	-23.5%	84.1%	76.1%	-17.8%	-23.0%	-22.99%
ROA	2.7%	0.1%	0.8%	1.6%	3.7%	9.6%	11.8%	15.2%	16.7%	18.0%	14.7%	11.2%	-16.4%	-20.5%	-5.1%	-8.1%	18.6%	16.4%	-4.9%	-6.0%	-5.96%
ROIC	6.8%	4.4%	4.9%	6.6%	9.2%	16.9%	21.6%	27.1%	28.1%	30.7%	25.4%	18.5%	-44.8%	-55.5%	-7.5%	-12.2%	36.6%	30.8%	-4.5%	-7.1%	-7.14%
ROCE	7.0%	2.9%	3.7%	5.4%	9.3%	19.5%	24.5%	29.9%	31.1%	31.0%	27.0%	21.0%	-26.7%	-32.4%	-8.2%	-13.3%	39.6%	33.9%	-7.1%	-9.2%	-9.22%
Gross Margin	10.6%	8.9%	10.6%	12.1%	14.0%	14.4%	18.7%	22.0%	19.4%	18.2%	14.8%	16.3%	12.1%	10.3%	5.0%	9.0%	4.1%	-5.4%	-3.5%	3.7%	3.67%
Operating Margin	3.8%	-3.9%	3.7%	5.6%	8.1%	8.8%	11.3%	15.0%	12.3%	10.3%	5.7%	7.9%	-93.3%	0.9%	82.6%	-1.0%	15.1%	-14.4%	-17.3%	-6.1%	-6.06%
Net Margin	2.3%	-5.3%	2.2%	3.5%	5.5%	6.3%	8.2%	10.8%	8.7%	8.5%	3.5%	5.3%	-71.2%	-0.2%	60.6%	-2.1%	10.5%	-15.5%	-14.9%	-5.5%	-5.49%
EBITDA Margin	6.4%	-3.2%	6.1%	7.4%	9.9%	10.4%	12.9%	16.6%	14.2%	12.5%	8.2%	10.5%	-90.4%	0.9%	82.6%	1.5%	18.8%	-14.0%	-12.2%	-5.9%	-5.94%
FCF Margin	-4.8%	-3.1%	-3.8%	1.3%	2.9%	2.7%	5.8%	3.6%	5.9%	8.8%	6.1%	4.0%	4.3%	2.3%	4.0%	3.3%	6.6%	-0.8%	-2.8%	-1.1%	-1.13%
OCF Margin	-3.3%	-0.4%	-1.0%	4.1%	6.0%	5.0%	8.9%	7.2%	9.9%	12.6%	9.6%	7.3%	7.1%	6.0%	7.4%	6.3%	9.2%	0.8%	-1.5%	-0.1%	-0.05%
ROE 3Y Avg	snapshot only																				-9.13%
ROE 5Y Avg	snapshot only																				4.17%
ROA 3Y Avg	snapshot only																				-0.95%
ROIC 3Y Avg	snapshot only																				-1.74%
ROIC Economic	snapshot only																				-6.75%
Cash ROA	snapshot only																				-0.06%
Cash ROIC	snapshot only																				-0.10%
CROIC	snapshot only																				-2.18%
NOPAT Margin	snapshot only																				-3.68%
Pretax Margin	snapshot only																				-7.28%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				5.00%
SBC / Revenue	snapshot only																				0.77%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	22.10	768.59	68.58	31.03	15.92	9.45	7.58	5.82	4.34	4.99	6.73	6.26	-3.50	-2.60	-6.53	-4.05	1.58	1.65	-5.38	-7.03	-7.312
P/S Ratio	0.41	0.50	0.35	0.29	0.31	0.42	0.45	0.45	0.37	0.46	0.55	0.42	0.38	0.38	0.26	0.26	0.25	0.23	0.24	0.38	0.402
P/B Ratio	1.83	2.75	2.01	1.86	2.01	2.67	2.70	2.46	1.86	2.10	2.44	1.74	4.07	3.92	1.15	1.15	0.98	0.95	1.09	1.87	1.960
P/FCF	-8.43	-15.81	-9.22	22.62	10.70	15.83	7.67	12.59	6.29	5.20	9.05	10.38	8.92	16.41	6.41	7.84	3.79	-26.75	-8.45	-34.20	-34.200
P/OCF	—	—	—	7.14	5.21	8.55	5.03	6.30	3.76	3.61	5.74	5.74	5.39	6.31	3.47	4.13	2.74	29.91	—	—	—
EV/EBITDA	9.73	17.23	13.36	10.03	8.54	6.64	5.75	4.60	3.65	3.91	5.05	4.95	-4.66	-3.35	-18.68	-8.89	1.90	2.18	-262.63	-28.24	-28.242
EV/Revenue	0.63	0.70	0.57	0.45	0.48	0.57	0.58	0.57	0.49	0.55	0.67	0.57	0.54	0.54	0.45	0.49	0.46	0.49	0.57	0.70	0.695
EV/EBIT	17.49	51.71	33.37	20.73	13.75	8.51	6.91	5.28	4.15	4.48	5.95	6.15	-3.83	-2.96	-9.91	-6.29	2.11	2.58	-13.49	-12.42	-12.417
EV/FCF	-12.99	-22.32	-14.90	34.64	16.41	21.21	10.01	16.03	8.38	6.32	11.01	14.23	12.49	23.47	11.20	14.76	6.97	-58.25	-20.30	-61.77	-61.771
Earnings Yield	4.5%	0.1%	1.5%	3.2%	6.3%	10.6%	13.2%	17.2%	23.0%	20.0%	14.9%	16.0%	-28.5%	-38.4%	-15.3%	-24.7%	63.3%	60.6%	-18.6%	-14.2%	-14.22%
FCF Yield	-11.9%	-6.3%	-10.8%	4.4%	9.3%	6.3%	13.0%	7.9%	15.9%	19.2%	11.1%	9.6%	11.2%	6.1%	15.6%	12.8%	26.4%	-3.7%	-11.8%	-2.9%	-2.92%
PEG Ratio	snapshot only																				0.038
Price/Tangible Book	snapshot only																				26.205
EV/Gross Profit	snapshot only																				321.519
Shareholder Yield	snapshot only																				3.68%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	2.02	1.83	1.87	1.63	1.70	1.71	1.61	1.68	1.83	1.93	1.87	1.99	1.88	1.93	1.58	1.68	1.35	1.39	1.33	1.31	1.314
Quick Ratio	1.12	1.01	1.10	0.93	0.92	1.00	0.87	0.89	0.96	1.17	1.11	1.15	1.12	1.09	0.91	1.00	0.86	0.79	0.77	0.80	0.800
Debt/Equity	1.12	1.35	1.45	1.40	1.30	1.05	0.98	0.88	0.82	0.78	0.74	0.78	2.03	2.30	1.06	1.17	1.04	1.21	1.66	1.75	1.755
Net Debt/Equity	0.99	1.13	1.24	0.99	1.07	0.91	0.82	0.67	0.62	0.45	0.53	0.64	1.63	1.68	0.86	1.02	0.82	1.12	1.52	1.51	1.510
Debt/Assets	0.37	0.39	0.39	0.37	0.37	0.35	0.32	0.30	0.31	0.31	0.29	0.32	0.28	0.31	0.30	0.33	0.32	0.38	0.43	0.41	0.414
Debt/EBITDA	3.85	6.00	5.97	4.92	3.60	1.96	1.60	1.29	1.21	1.19	1.26	1.63	-1.67	-1.37	-9.85	-4.78	1.10	1.27	-166.91	-14.65	-14.646
Net Debt/EBITDA	3.41	5.02	5.09	3.48	2.97	1.69	1.34	0.99	0.91	0.69	0.90	1.34	-1.33	-1.01	-7.99	-4.17	0.87	1.18	-153.26	-12.61	-12.606
Interest Coverage	2.56	1.06	1.52	2.21	3.95	8.13	10.52	13.99	15.42	15.78	13.75	10.76	-15.02	-17.99	-4.13	-6.58	8.65	13.81	-2.75	-3.34	-3.340
Equity Multiplier	3.03	3.46	3.70	3.82	3.52	3.03	3.08	2.88	2.68	2.48	2.52	2.43	7.26	7.48	3.50	3.57	3.22	3.19	3.83	4.24	4.236
Cash Ratio	snapshot only																				0.191
Debt Service Coverage	snapshot only																				-1.469
Cash to Debt	snapshot only																				0.139
FCF to Debt	snapshot only																				-0.031
Defensive Interval	snapshot only																				1278.3 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	1.46	1.56	1.57	1.74	1.90	2.15	2.00	1.96	1.95	1.98	1.81	1.68	1.49	1.40	1.30	1.27	1.17	1.19	1.11	1.09	1.089
Inventory Turnover	6.63	8.01	6.81	6.89	7.21	9.05	7.29	6.69	6.46	7.97	6.64	6.17	5.94	6.39	5.76	5.94	6.33	6.75	6.02	6.39	6.388
Receivables Turnover	10.85	12.98	9.23	12.19	10.06	11.58	9.43	11.31	11.31	11.57	9.64	9.66	9.45	11.91	8.64	7.95	8.49	11.70	8.86	7.87	7.875
Payables Turnover	9.36	11.54	8.15	8.07	9.77	12.00	8.62	8.09	9.51	11.79	8.53	9.34	9.14	11.09	7.59	8.82	8.20	10.15	6.78	6.72	6.723
DSO	34	28	40	30	36	32	39	32	32	32	38	38	39	31	42	46	43	31	41	46	46.4 days
DIO	55	46	54	53	51	40	50	55	56	46	55	59	61	57	63	61	58	54	61	57	57.1 days
DPO	39	32	45	45	37	30	42	45	38	31	43	39	40	33	48	41	45	36	54	54	54.3 days
Cash Conversion Cycle	50	42	48	38	50	41	46	42	50	46	50	58	60	55	57	66	56	49	48	49	49.2 days
Fixed Asset Turnover	snapshot only																				5.024
Operating Cycle	snapshot only																				103.5 days
Cash Velocity	snapshot only																				19.910
Capital Intensity	snapshot only																				0.870

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	4.3%	21.7%	31.7%	34.7%	34.5%	38.8%	31.6%	21.8%	11.8%	1.4%	-5.6%	-12.4%	-18.2%	-23.3%	-25.4%	-25.0%	-22.9%	-20.8%	-19.2%	-17.3%	-17.26%
Net Income	1.4%	1.0%	-19.5%	-18.2%	42.3%	95.4%	14.1%	9.0%	3.9%	1.1%	30.9%	-24.8%	-2.0%	-2.2%	-1.4%	-1.7%	2.1%	1.7%	9.4%	29.1%	29.09%
EPS	1.4%	1.0%	-14.2%	-14.2%	45.7%	95.1%	14.3%	9.2%	4.1%	1.2%	39.1%	-19.8%	-2.1%	-2.3%	-1.4%	-1.8%	2.2%	1.8%	4.2%	26.3%	26.26%
FCF	-1.6%	-1.5%	-1.8%	-59.1%	1.8%	2.2%	3.0%	2.4%	1.3%	2.3%	-1.4%	-1.9%	-40.4%	-79.7%	-50.7%	-38.5%	18.7%	-1.3%	-1.6%	-1.3%	-1.28%
EBITDA	7.4%	3.0%	-2.4%	-5.5%	16.2%	1.9%	2.1%	2.4%	1.7%	67.8%	23.4%	-19.1%	-1.7%	-1.9%	-1.1%	-1.4%	2.6%	2.1%	92.7%	62.8%	62.79%
Op. Income	2.0%	1.4%	19.1%	6.4%	45.2%	4.0%	4.1%	4.1%	2.4%	87.2%	25.5%	-25.3%	-2.0%	-2.1%	-1.3%	-1.6%	2.2%	1.9%	35.5%	44.5%	44.50%
OCF Growth	snapshot only																				-1.01%
Asset Growth	snapshot only																				-9.97%
Equity Growth	snapshot only																				-24.08%
Debt Growth	snapshot only																				14.05%
Shares Change	snapshot only																				-3.84%
Dividend Growth	snapshot only																				-2.97%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	-7.7%	-7.3%	-5.3%	-2.5%	-0.4%	2.6%	5.8%	11.6%	16.2%	19.6%	17.8%	12.8%	7.2%	2.6%	-2.5%	-7.2%	-11.0%	-14.9%	-17.2%	-18.4%	-18.40%
Revenue 5Y	-2.2%	-0.5%	2.1%	4.5%	6.6%	7.2%	6.3%	4.8%	3.4%	2.3%	1.0%	-0.2%	-2.0%	-3.4%	-3.6%	-1.8%	-0.2%	0.8%	-0.3%	-2.3%	-2.27%
EPS 3Y	-30.2%	-73.3%	-43.7%	-28.3%	-15.1%	11.4%	—	—	—	—	1.6%	91.7%	—	—	—	—	88.8%	31.9%	—	—	—
EPS 5Y	-20.3%	-58.3%	-35.2%	-23.6%	-7.6%	4.6%	10.8%	15.4%	20.2%	31.9%	30.6%	24.8%	—	—	—	—	—	—	—	—	—
Net Income 3Y	-33.2%	-74.4%	-45.8%	-31.0%	-18.1%	7.8%	—	—	—	—	1.5%	83.2%	—	—	—	—	78.9%	23.5%	—	—	—
Net Income 5Y	-24.4%	-60.4%	-38.3%	-27.2%	-11.8%	0.1%	6.1%	10.8%	15.7%	27.2%	25.8%	19.8%	—	—	—	—	—	—	—	—	—
EBITDA 3Y	-14.0%	-23.7%	-20.4%	-16.7%	-9.7%	5.0%	72.7%	2.2%	—	—	55.7%	37.5%	—	—	—	—	45.0%	17.7%	—	—	—
EBITDA 5Y	-15.0%	-21.2%	-18.0%	-13.7%	-6.3%	3.9%	8.7%	12.6%	14.9%	16.8%	14.3%	9.7%	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	-11.5%	-11.5%	-10.4%	-7.5%	-3.7%	1.7%	11.5%	27.1%	37.5%	46.1%	39.2%	27.5%	18.3%	10.5%	0.0%	-11.5%	-24.0%	-43.3%	-57.5%	-81.1%	-81.07%
Gross Profit 5Y	-10.2%	-9.6%	-7.4%	-4.0%	0.9%	4.3%	7.5%	9.9%	11.0%	11.9%	9.7%	6.5%	1.7%	-2.9%	-5.4%	-6.3%	-8.6%	-18.1%	-29.7%	-56.2%	-56.22%
Op. Income 3Y	-20.4%	-32.9%	-27.3%	-20.8%	-12.3%	5.3%	2.1%	—	—	—	96.8%	59.4%	—	—	—	—	60.2%	24.4%	—	—	—
Op. Income 5Y	-22.1%	-30.2%	-25.5%	-19.5%	-7.9%	5.0%	11.4%	16.3%	20.1%	23.0%	19.7%	13.6%	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	-33.6%	-11.0%	-14.9%	31.8%	8.1%	1.2%	28.8%	16.3%	10.6%	—	—	—	26.7%	17.0%	—	—	—	—
FCF 5Y	—	—	—	-29.0%	-9.8%	-10.8%	29.4%	2.4%	7.1%	23.1%	3.6%	-0.6%	-1.0%	-16.1%	2.2%	-5.3%	-6.0%	—	—	—	—
OCF 3Y	—	—	—	-12.8%	1.7%	-5.3%	30.6%	20.3%	13.1%	37.0%	27.7%	23.6%	—	—	—	6.8%	2.6%	-54.5%	—	—	—
OCF 5Y	—	—	—	-13.1%	0.7%	-3.0%	26.6%	11.4%	12.9%	23.2%	8.0%	4.6%	2.8%	-4.3%	5.6%	-0.1%	-3.3%	-37.7%	—	—	—
Assets 3Y	-4.6%	-4.7%	-3.5%	-2.1%	-2.7%	-2.7%	2.2%	6.6%	5.1%	4.9%	4.0%	4.3%	7.5%	7.8%	3.8%	2.2%	2.1%	-0.9%	-2.1%	-3.7%	-3.65%
Assets 5Y	3.4%	4.6%	5.9%	6.7%	-1.6%	-2.3%	-1.5%	0.2%	0.6%	0.9%	-0.4%	-0.5%	1.1%	1.6%	2.9%	3.8%	2.4%	-0.1%	0.0%	1.0%	0.97%
Equity 3Y	-7.0%	-11.8%	-10.9%	-12.3%	-11.2%	-8.6%	2.5%	6.9%	9.3%	10.7%	10.7%	11.2%	-19.6%	-16.6%	5.7%	4.4%	5.2%	-2.6%	-8.9%	-15.3%	-15.28%
Book Value 3Y	-2.8%	-7.8%	-7.4%	-8.8%	-8.0%	-5.6%	5.2%	10.2%	13.4%	15.9%	15.9%	16.4%	-15.7%	-13.6%	10.8%	9.9%	11.0%	4.0%	-3.1%	-10.4%	-10.36%
Dividend 3Y	3.3%	2.6%	2.7%	2.4%	2.3%	2.4%	2.1%	2.7%	3.5%	4.3%	3.0%	2.8%	2.7%	1.2%	2.7%	2.9%	3.1%	4.4%	3.7%	3.4%	3.40%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.15	0.08	0.01	0.02	0.11	0.13	0.17	0.22	0.20	0.16	0.12	0.08	0.01	0.00	0.01	0.00	0.00	0.00	0.01	0.06	0.055
Earnings Stability	0.50	0.59	0.67	0.43	0.21	0.06	0.00	0.05	0.09	0.22	0.53	0.48	0.05	0.05	0.06	0.02	0.10	0.05	0.08	0.17	0.171
Margin Stability	0.80	0.79	0.80	0.83	0.86	0.87	0.86	0.80	0.76	0.73	0.76	0.78	0.78	0.77	0.76	0.71	0.66	0.53	0.47	0.37	0.370
Rev. Growth Consistency	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.50	0.50	0.00	0.00	1.00	1.00	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	0	0	0	1	0	0	0	1	1	1	1	1	1	1	1	1	1	0	0	0	0
Earnings Persistence	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.88	0.90	0.20	0.20	0.20	0.20	0.20	0.20	0.50	0.50	0.500
Earnings Smoothness	—	—	0.78	0.80	0.65	0.00	0.00	0.00	0.00	0.31	0.73	0.72	—	—	—	—	—	—	—	—	—
ROE Trend	0.11	0.04	0.05	0.11	0.19	0.40	0.33	0.36	0.32	0.28	0.17	0.04	-1.44	-1.86	-0.54	-0.64	0.99	1.12	-0.29	-0.26	-0.263
Gross Margin Trend	-0.01	-0.01	-0.01	-0.01	0.00	0.02	0.04	0.06	0.07	0.08	0.06	0.03	0.00	-0.03	-0.05	-0.08	-0.10	-0.13	-0.13	-0.13	-0.131
FCF Margin Trend	-0.11	-0.09	-0.08	-0.03	0.01	0.01	0.05	0.01	0.07	0.09	0.05	0.02	-0.00	-0.03	-0.02	-0.01	0.02	-0.06	-0.08	-0.05	-0.048
Sustainable Growth Rate	3.9%	-4.2%	-1.7%	1.1%	7.9%	26.6%	35.3%	45.7%	47.0%	45.5%	37.7%	26.7%	—	—	—	—	79.6%	71.1%	—	—	—
Internal Growth Rate	1.3%	—	—	0.3%	2.5%	9.0%	11.7%	16.3%	18.4%	20.2%	15.7%	11.2%	—	—	—	—	21.3%	18.1%	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	-1.79	-6.42	-1.96	4.34	3.05	1.11	1.51	0.92	1.15	1.38	1.17	1.09	-0.65	-0.41	-1.89	-0.98	0.58	0.06	0.34	0.01	0.010
FCF/OCF	1.47	7.57	3.80	0.32	0.49	0.54	0.66	0.50	0.60	0.70	0.63	0.55	0.60	0.38	0.54	0.53	0.72	-1.12	1.90	21.50	21.505
FCF/Net Income	snapshot only																				0.206
CapEx/Revenue	1.5%	2.7%	2.8%	2.8%	3.1%	2.3%	3.0%	3.6%	4.0%	3.8%	3.5%	3.3%	2.8%	3.7%	3.4%	3.0%	2.5%	1.6%	1.3%	1.1%	1.07%
CapEx/Depreciation	snapshot only																				0.342
Accruals Ratio	0.08	0.01	0.02	-0.06	-0.08	-0.01	-0.06	0.01	-0.03	-0.07	-0.03	-0.01	-0.27	-0.29	-0.15	-0.16	0.08	0.15	-0.03	-0.06	-0.059
Sloan Accruals	snapshot only																				-0.137
Cash Flow Adequacy	snapshot only																				-0.026

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	2.4%	1.8%	2.4%	2.6%	2.2%	1.5%	1.4%	1.4%	1.7%	1.4%	1.2%	1.6%	1.8%	2.0%	3.1%	3.2%	3.4%	3.9%	3.8%	2.4%	2.28%
Dividend/Share	$0.33	$0.33	$0.33	$0.33	$0.33	$0.32	$0.33	$0.33	$0.34	$0.34	$0.33	$0.34	$0.34	$0.33	$0.34	$0.34	$0.33	$0.34	$0.33	$0.33	$0.32
Payout Ratio	52.5%	14.1%	1.6%	80.1%	35.5%	14.3%	10.7%	7.9%	7.2%	6.9%	7.8%	10.0%	—	—	—	—	5.4%	6.5%	—	—	—
FCF Payout Ratio	—	—	—	58.4%	23.8%	23.9%	10.9%	17.1%	10.4%	7.1%	10.5%	16.6%	16.4%	32.8%	19.9%	25.1%	12.9%	—	—	—	—
Total Payout Ratio	2.5%	71.4%	7.2%	2.7%	1.2%	44.8%	43.6%	36.9%	36.7%	39.8%	45.5%	63.7%	—	—	—	—	21.4%	22.5%	—	—	—
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	-0.01	-0.03	-0.01	-0.02	-0.02	-0.01	-0.00	0.00	0.01	0.00	-0.04	-0.04	-0.04	-0.05	-0.03	-0.03	-0.03	-0.03	-0.04	-0.04	-0.043
Buyback Yield	9.0%	7.5%	8.1%	6.1%	5.0%	3.2%	4.3%	5.0%	6.8%	6.6%	5.6%	8.6%	10.1%	9.6%	14.0%	12.1%	10.1%	9.7%	5.0%	1.2%	1.25%
Net Buyback Yield	9.0%	7.5%	8.1%	6.1%	5.0%	3.2%	4.3%	5.0%	6.8%	6.6%	5.6%	8.6%	10.1%	9.6%	14.0%	12.1%	10.1%	9.7%	5.0%	1.2%	1.25%
Total Shareholder Return	11.4%	9.3%	10.5%	8.7%	7.2%	4.7%	5.8%	6.3%	8.5%	8.0%	6.8%	10.2%	12.0%	11.6%	17.1%	15.4%	13.6%	13.6%	8.8%	3.7%	3.68%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.84	0.90	0.88	0.80	0.75	0.77	0.77	0.77	0.76	0.78	0.78	0.79	0.73	0.75	0.77	0.77	0.75	0.75	0.77	0.75	0.752
Interest Burden (EBT/EBIT)	0.61	0.05	0.34	0.55	0.75	0.88	0.91	0.93	0.94	0.94	0.93	0.91	1.07	1.06	1.12	1.08	0.97	0.96	1.36	1.30	1.299
EBIT Margin	0.04	0.01	0.02	0.02	0.03	0.07	0.08	0.11	0.12	0.12	0.11	0.09	-0.14	-0.18	-0.05	-0.08	0.22	0.19	-0.04	-0.06	-0.056
Asset Turnover	1.46	1.56	1.57	1.74	1.90	2.15	2.00	1.96	1.95	1.98	1.81	1.68	1.49	1.40	1.30	1.27	1.17	1.19	1.11	1.09	1.089
Equity Multiplier	3.02	3.16	3.35	3.35	3.27	3.22	3.36	3.27	3.03	2.71	2.77	2.64	3.96	3.76	2.94	2.90	4.53	4.64	3.65	3.86	3.859

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$0.63	$0.02	$0.20	$0.41	$0.92	$2.27	$3.08	$4.20	$4.66	$4.93	$4.29	$3.37	$-5.31	$-6.40	$-1.65	$-2.59	$6.20	$5.20	$-1.59	$-1.91	$-1.91
Book Value/Share	$7.64	$6.59	$6.88	$6.83	$7.29	$8.02	$8.64	$9.94	$10.86	$11.71	$11.81	$12.13	$4.57	$4.26	$9.37	$9.07	$9.97	$9.03	$7.87	$7.16	$7.20
Tangible Book/Share	$0.98	$0.37	$0.89	$0.89	$1.40	$2.22	$2.85	$4.13	$5.04	$5.68	$5.93	$6.21	$-1.49	$-1.67	$3.15	$2.82	$3.71	$2.77	$1.14	$0.51	$0.51
Revenue/Share	$34.16	$36.50	$39.37	$43.43	$47.04	$50.50	$52.43	$54.17	$54.40	$54.05	$52.55	$50.59	$48.50	$43.89	$42.06	$40.52	$38.99	$37.94	$35.96	$34.87	$34.87
FCF/Share	$-1.66	$-1.15	$-1.50	$0.56	$1.37	$1.35	$3.04	$1.94	$3.21	$4.73	$3.19	$2.03	$2.08	$1.02	$1.69	$1.34	$2.58	$-0.32	$-1.01	$-0.39	$-0.39
OCF/Share	$-1.13	$-0.15	$-0.39	$1.78	$2.81	$2.50	$4.64	$3.88	$5.37	$6.81	$5.03	$3.68	$3.45	$2.64	$3.12	$2.53	$3.57	$0.29	$-0.53	$-0.02	$-0.02
Cash/Share	$0.98	$1.45	$1.46	$2.80	$1.65	$1.18	$1.39	$2.04	$2.20	$3.82	$2.50	$1.70	$1.87	$2.60	$1.88	$1.35	$2.18	$0.79	$1.07	$1.75	$1.75
EBITDA/Share	$2.21	$1.48	$1.67	$1.94	$2.63	$4.32	$5.30	$6.76	$7.39	$7.65	$6.95	$5.84	$-5.58	$-7.12	$-1.01	$-2.22	$9.45	$8.57	$-0.08	$-0.86	$-0.86
Debt/Share	$8.53	$8.90	$9.98	$9.56	$9.48	$8.45	$8.50	$8.73	$8.93	$9.13	$8.78	$9.51	$9.31	$9.77	$9.97	$10.60	$10.37	$10.89	$13.03	$12.57	$12.57
Net Debt/Share	$7.55	$7.45	$8.51	$6.77	$7.83	$7.28	$7.11	$6.69	$6.73	$5.31	$6.27	$7.80	$7.44	$7.17	$8.09	$9.25	$8.19	$10.10	$11.97	$10.82	$10.82

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.657
Altman Z-Prime	snapshot only																				1.402
Piotroski F-Score	5	4	3	5	7	7	8	8	9	8	7	5	5	4	3	3	4	4	3	3	3
Beneish M-Score	-1.28	-1.86	-1.61	-2.16	-2.86	-2.39	-3.12	-2.68	-2.89	-3.20	-2.42	-2.23	-5.48	-3.46	-3.76	-2.86	-1.29	-3.48	-3.85	-2.13	-2.129
Ohlson O-Score	snapshot only																				-4.973
ROIC (Greenblatt)	snapshot only																				-19.88%
Net-Net WC	snapshot only																				$-11.10
EVA	snapshot only																				$-125870740.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				B
Credit Score	50.27	38.47	38.89	49.95	56.34	78.01	82.77	80.64	84.14	90.44	86.67	81.97	40.65	38.84	44.08	37.45	67.17	62.10	29.01	29.41	29.406
Credit Grade	snapshot only																				15
Credit Trend	snapshot only																				-8.046
Implied Spread (bps)	snapshot only																				750.000
Industry Credit Rank	snapshot only																				19
Sector Credit Rank	snapshot only																				16

WNC NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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