GREENBRIER COMPANIES INC GBX
We are a leading international supplier of equipment and services to global freight transportation markets. Through our wholly-owned subsidiaries and consolidated and unconsolidated joint ventures, we design, build and market freight railcars in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, component parts, maintenance and sustainable conversion services in North America. We own a lease fleet of railcars that originate primarily from our manufacturing operations. We offer railcar management, regulatory compliance services and leasing services to railroads and other railcar owners in North America.
We operate an integrated business model that combines freight car manufacturing, wheel services, railcar maintenance, component parts, leasing and fleet management services. Our model is designed to provide customers with a comprehensive set of freight car product and service solutions by utilizing our substantial engineering, mechanical and technical capabilities, as well as our experienced commercial personnel. Our integrated model allows us to develop cross-selling opportunities and synergies among our reportable segments thereby enhancing our margins. We believe our integrated model is difficult to duplicate and provides greater value for our customers and investors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.24B | $3.54B | $3.94B | $2.98B | $1.75B | $2.79B | $3.03B | $2.52B | $13.0M | $14.7M |
| Cost of revenue | $2.63B | $2.99B | $3.50B | $2.67B | $1.52B | $2.44B | $2.67B | $2.11B | $1.75B | $2.13B |
| Gross profit | $607.5M | $558.5M | $441.1M | $306.0M | $231.6M | $353.1M | $366.5M | $409.1M | $421.3M | $551.4M |
| R&D | $5.5M | $5.2M | $4.0M | $5.4M | $6.3M | $5.8M | $5.4M | $6.0M | $4.2M | $2.7M |
| SG&A | $263.3M | $247.1M | $235.3M | $225.2M | $191.8M | $204.7M | $213.3M | $200.4M | $170.6M | $158.7M |
| Operating income | $360.1M | $324.5M | $176.4M | $118.0M | $41.0M | $168.4M | $184.1M | $253.0M | $260.4M | $408.6M |
| Pre-tax income | $284.4M | $223.7M | $91.0M | $60.6M | -$8.6M | $124.8M | $153.2M | $223.6M | $236.2M | $395.1M |
| Income tax | $91.4M | $62.0M | $24.6M | $18.1M | $40.2M | $40.2M | $41.6M | $32.9M | $64.0M | $112.3M |
| Net income | $204.1M | $160.1M | $62.5M | $46.9M | $32.4M | $49.0M | $71.1M | $151.8M | $116.1M | $183.2M |
| EPS, basic | 6.55 | 5.15 | 1.95 | 1.44 | 0.99 | 1.50 | 2.18 | 4.92 | 3.97 | 6.28 |
| EPS, diluted | 6.35 | 4.96 | 1.89 | 1.40 | 0.96 | 1.46 | 2.14 | 4.68 | 3.65 | 5.73 |
| Shares, diluted (wtd. avg.) | $32.1M | $32.4M | $33.8M | $33.6M | $33.7M | $33.4M | $33.2M | $32.8M | $32.6M | $32.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $306.1M | $351.8M | $281.7M | $559.1M | $671.4M | $842.1M | $338.5M | $539.5M | $620.4M | $247.0M |
| Inventory | $688.3M | $770.9M | $823.6M | $815.3M | $573.6M | $529.5M | $664.7M | $432.3M | $400.1M | $365.8M |
| Property, plant and equipment | $726.7M | $711.7M | $619.2M | $645.2M | $670.2M | $711.5M | $718.0M | $457.2M | $428.0M | $330.0M |
| Goodwill | $130.0M | $128.5M | $128.9M | $127.3M | $132.1M | $130.3M | $129.9M | $78.2M | $68.6M | $43.3M |
| Other intangibles | $24.9M | $31.5M | $39.1M | $47.3M | $53.0M | $60.4M | $68.0M | $38.8M | $39.7M | $28.1M |
| Total assets | $4.36B | $4.25B | $3.98B | $3.85B | $3.39B | $3.17B | $2.99B | $2.47B | $2.40B | $1.84B |
| Long-term debt | $1.75B | $1.76B | — | — | — | — | — | — | — | — |
| Retained earnings | $1.20B | $1.03B | $897.5M | $897.7M | $881.7M | $885.5M | $867.6M | $830.9M | $709.1M | $618.2M |
| Total equity | $1.53B | $1.38B | $1.25B | $1.28B | $1.31B | $1.29B | $1.28B | $1.25B | $1.02B | $874.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $265.7M | $329.6M | $71.2M | -$150.4M | -$40.5M | $272.2M | -$21.2M | $103.3M | $285.6M | $337.2M |
| Depreciation and amortisation | $121.5M | $115.6M | $106.3M | $102.0M | $100.7M | $109.9M | $83.7M | $74.4M | $65.1M | $63.3M |
| Stock-based compensation | $17.5M | $17.1M | $12.1M | $15.5M | $14.7M | $9.0M | $11.2M | $29.3M | $26.4M | $24.0M |
| Capital expenditure | $280.4M | $398.3M | $362.1M | $380.7M | $139.0M | $66.9M | $198.2M | $176.8M | $86.1M | $139.0M |
| Investing cash flow | -$203.1M | -$320.4M | -$280.0M | -$224.0M | -$117.8M | $27.5M | -$444.0M | -$80.3M | -$129.1M | -$55.7M |
| Financing cash flow | -$101.7M | $86.2M | -$76.2M | $244.9M | -$22.7M | $216.5M | $276.9M | -$89.3M | $204.4M | -$227.4M |
| Dividends paid | $39.6M | $38.4M | $36.1M | $35.8M | $35.6M | $35.2M | $33.2M | $29.9M | $24.9M | $23.3M |
| Buybacks | $22.7M | $1.3M | $56.9M | — | $20.0M | — | — | — | — | $33.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-25-253612.
Others in SIC 3743
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| WAB | WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP | $47.78B | 41.4x | 7.5% |
| TRN | TRINITY INDUSTRIES INC | $2.26B | 9.3x | -30.0% |
| RAIL | FreightCar America, Inc. | $232.8M | 6.5x | -10.2% |
| RVSN | Rail Vision Ltd. | — | — | 14.4% |