FreightCar America (RAIL)
Market Price (9/23/2026): $7.42 | Market Cap: $237.0 MilSector: Industrials | Industry: Rail Transportation
FreightCar America (RAIL)
Market Price (9/23/2026): $7.42Market Cap: $237.0 MilSector: IndustrialsIndustry: Rail Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 7.6% Megatrend and thematic driversMegatrends include Future of Freight, and Energy Transition & Decarbonization. Themes include Railcar Modernization, Freight Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -70% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -4.6% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.5% Key risksRAIL key risks include [1] its high customer concentration and [2] significant balance sheet weaknesses, Show more. |
| Attractive yieldFCF Yield is 7.6% |
| Megatrend and thematic driversMegatrends include Future of Freight, and Energy Transition & Decarbonization. Themes include Railcar Modernization, Freight Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -70% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -4.6% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.5% |
| Key risksRAIL key risks include [1] its high customer concentration and [2] significant balance sheet weaknesses, Show more. |
Qualitative Assessment
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FreightCar America (RAIL) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Weak Financial Performance in Fiscal Q1 and Q2 2026, marked by revenue declines and net losses.
FreightCar America reported disappointing results for fiscal Q1 2026 (ended March 31, 2026), with revenue decreasing by 33% year-over-year to $64.3 million and diluted EPS falling from $1.54 in Q1 2025 to $1.30. Revenue missed analyst estimates by 14%. This was primarily driven by a 19% decline in railcar deliveries. The stock declined 2.9% the day after the Q1 2026 earnings announcement on May 4, 2026. For fiscal Q2 2026 (ended June 30, 2026), the company reported a net loss of $30.1 million, or $(0.94) per diluted share, a significant drop from a profit in Q2 2025. This loss included a $24.9 million non-cash loss on warrant liability. Adjusted net loss for Q2 2026 was $(0.02) per share, missing the consensus estimate of $0.00. Gross margin also declined sharply to 5.5% in Q2 2026 from 15.0% in Q2 2025, partly due to $2.2 million in workforce realignment costs.
2. Share Dilution from Warrant Exercises.
During 2026, warrant exercises significantly reduced FreightCar America's warrant liability from $119.4 million at March 31, 2026, to $14.0 million. This reduction in liability, however, led to an increase in shares outstanding from 19 million in 2025 to 32.8 million in 2026, indicating dilution for existing shareholders. The non-cash loss on warrant liability of $24.9 million was a primary contributor to the net loss reported in fiscal Q2 2026.
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FreightCar America (RAIL) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Weak Financial Performance in Fiscal Q1 and Q2 2026, marked by revenue declines and net losses.
FreightCar America reported disappointing results for fiscal Q1 2026 (ended March 31, 2026), with revenue decreasing by 33% year-over-year to $64.3 million and diluted EPS falling from $1.54 in Q1 2025 to $1.30. Revenue missed analyst estimates by 14%. This was primarily driven by a 19% decline in railcar deliveries. The stock declined 2.9% the day after the Q1 2026 earnings announcement on May 4, 2026. For fiscal Q2 2026 (ended June 30, 2026), the company reported a net loss of $30.1 million, or $(0.94) per diluted share, a significant drop from a profit in Q2 2025. This loss included a $24.9 million non-cash loss on warrant liability. Adjusted net loss for Q2 2026 was $(0.02) per share, missing the consensus estimate of $0.00. Gross margin also declined sharply to 5.5% in Q2 2026 from 15.0% in Q2 2025, partly due to $2.2 million in workforce realignment costs.
2. Share Dilution from Warrant Exercises.
During 2026, warrant exercises significantly reduced FreightCar America's warrant liability from $119.4 million at March 31, 2026, to $14.0 million. This reduction in liability, however, led to an increase in shares outstanding from 19 million in 2025 to 32.8 million in 2026, indicating dilution for existing shareholders. The non-cash loss on warrant liability of $24.9 million was a primary contributor to the net loss reported in fiscal Q2 2026.
3. Weakness in the Broader Railcar Industry and Increasing Stored Railcars.
The railcar market continued to face challenges in 2026, particularly for new railcar orders. Macroeconomic indicators for the freight and industrial rail industry in early 2026 pointed to "limited volume growth with a weak outlook for North American industrial production". A key sign of this softness was the growing number of railcars in storage; as of February 1, 2026, approximately 356,000 railcars, representing 21.8% of the North American fleet, were in storage, a number that had been slowly increasing since mid-2025. This indicates a persistent oversupply or reduced demand for rail transportation services.
4. Downgraded Full-Year Fiscal 2026 Outlook.
Following its fiscal Q2 2026 results, FreightCar America revised its full-year 2026 outlook. The company now expects 2026 revenue to be between $410 million and $460 million, and adjusted EBITDA to be between $36 million and $44 million. This revised guidance reflects lower projected railcar deliveries for the remainder of the fiscal year, suggesting a less optimistic forecast for future performance.
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Stock Movement Drivers
Fundamental Drivers
The -2.5% change in RAIL stock from 5/31/2026 to 9/22/2026 was primarily driven by a -1.6% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.60 | 7.41 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 469 | 464 | -1.2% |
| P/S Multiple | 0.5 | 0.5 | -1.6% |
| Shares Outstanding (Mil) | 32 | 32 | 0.3% |
| Cumulative Contribution | -2.5% |
Market Drivers
5/31/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| RAIL | -2.5% | |
| Market (SPY) | 2.5% | 23.6% |
| Sector (XLI) | -1.4% | 41.6% |
Fundamental Drivers
The -46.4% change in RAIL stock from 2/28/2026 to 9/22/2026 was primarily driven by a -40.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.83 | 7.41 | -46.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 513 | 464 | -9.7% |
| P/S Multiple | 0.9 | 0.5 | -40.6% |
| Shares Outstanding (Mil) | 32 | 32 | -0.2% |
| Cumulative Contribution | -46.4% |
Market Drivers
2/28/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| RAIL | -46.4% | |
| Market (SPY) | 13.3% | 32.1% |
| Sector (XLI) | -3.4% | 45.5% |
Fundamental Drivers
The -13.2% change in RAIL stock from 8/31/2025 to 9/22/2026 was primarily driven by a -12.4% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.54 | 7.41 | -13.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 466 | 464 | -0.5% |
| P/S Multiple | 0.6 | 0.5 | -12.4% |
| Shares Outstanding (Mil) | 32 | 32 | -0.5% |
| Cumulative Contribution | -13.2% |
Market Drivers
8/31/2025 to 9/22/2026| Return | Correlation | |
|---|---|---|
| RAIL | -13.2% | |
| Market (SPY) | 21.2% | 36.1% |
| Sector (XLI) | 13.5% | 41.6% |
Fundamental Drivers
The 168.5% change in RAIL stock from 8/31/2023 to 9/22/2026 was primarily driven by a 152.9% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.76 | 7.41 | 168.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 384 | 464 | 20.6% |
| P/S Multiple | 0.2 | 0.5 | 152.9% |
| Shares Outstanding (Mil) | 28 | 32 | -12.0% |
| Cumulative Contribution | 168.5% |
Market Drivers
8/31/2023 to 9/22/2026| Return | Correlation | |
|---|---|---|
| RAIL | 168.5% | |
| Market (SPY) | 78.3% | 31.3% |
| Sector (XLI) | 64.3% | 30.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RAIL Return | 53% | -13% | -16% | 232% | 24% | -32% | 212% |
| Peers Return | 33% | -4% | 28% | 26% | 3% | 14% | 143% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| RAIL Win Rate | 33% | 42% | 33% | 58% | 58% | 56% | |
| Peers Win Rate | 62% | 47% | 53% | 60% | 57% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| RAIL Max Drawdown | -58% | -52% | -42% | -44% | -67% | -55% | |
| Peers Max Drawdown | -20% | -38% | -25% | -19% | -31% | -21% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TRN, GBX, GATX, WAB, ANDE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/22/2026 (YTD)
How Low Can It Go
| Event | RAIL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -54.8% | -18.8% |
| % Gain to Breakeven | 121.3% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.8% | -9.5% |
| % Gain to Breakeven | 21.6% | 10.5% |
| Time to Breakeven | 56 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.7% | -6.7% |
| % Gain to Breakeven | 38.4% | 7.1% |
| Time to Breakeven | 266 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -18.2% | -24.5% |
| % Gain to Breakeven | 22.3% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.5% | -33.7% |
| % Gain to Breakeven | 119.7% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.1% | -3.7% |
| % Gain to Breakeven | 28.3% | 3.9% |
| Time to Breakeven | 9 days | 6 days |
In The Past
FreightCar America's stock fell -54.8% during the 2025 US Tariff Shock. Such a loss loss requires a 121.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | RAIL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -54.8% | -18.8% |
| % Gain to Breakeven | 121.3% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.7% | -6.7% |
| % Gain to Breakeven | 38.4% | 7.1% |
| Time to Breakeven | 266 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.5% | -33.7% |
| % Gain to Breakeven | 119.7% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.1% | -3.7% |
| % Gain to Breakeven | 28.3% | 3.9% |
| Time to Breakeven | 9 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -52.3% | -17.9% |
| % Gain to Breakeven | 109.7% | 21.8% |
| Time to Breakeven | 146 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -28.4% | -15.4% |
| % Gain to Breakeven | 39.7% | 18.2% |
| Time to Breakeven | 183 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -59.3% | -53.4% |
| % Gain to Breakeven | 146.0% | 114.4% |
| Time to Breakeven | 2012 days | 1085 days |
In The Past
FreightCar America's stock fell -54.8% during the 2025 US Tariff Shock. Such a loss loss requires a 121.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About FreightCar America (RAIL)
FreightCar America (RAIL) is a company that designs, manufactures, and sells various types of railcars and their associated components. Primarily serving the North American market, with additional exports to Latin America and the Middle East, the company's core business revolves around providing essential equipment for the transportation of bulk commodities and containerized freight. Its operations are divided into two main segments: Manufacturing, which focuses on producing new railcars, and Parts, which deals with selling railcar components.
The company offers a broad range of freight cars, including specialized types such as open top and covered hoppers, gondolas, intermodal flats, and various aggregate and ore cars. In addition to manufacturing new railcars, FreightCar America provides comprehensive services. These include selling used railcars, offering leasing solutions, and undertaking the rebuilding or conversion of existing railcars. The company also supplies a wide array of forged, cast, and fabricated parts critical for railcar construction and maintenance.
FreightCar America's customer base is diverse, primarily comprising financial institutions, major railroads, and shippers. These clients depend on the company's railcars and services to efficiently transport bulk commodities and containerized goods, highlighting FreightCar America's integral role as a supplier in the broader rail freight industry.
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Here are 1-3 brief analogies to describe FreightCar America (RAIL):
The General Motors of freight railcars.
The Boeing of freight railcars.
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- Freight Railcars: Designs, manufactures, and sells a range of new railcars for transporting bulk commodities and containerized freight, including hoppers, gondolas, and flat cars.
- Railcar Components: Sells new forged, cast, and fabricated parts for various railcars.
- Used Railcar Sales: Sells previously owned railcars.
- Railcar Leasing: Provides railcars for lease.
- Railcar Rebuilding and Conversion: Offers services to restore, overhaul, or modify existing railcars.
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FreightCar America (RAIL) sells primarily to other companies. Its major customers include:
- Financial institutions
- Railroads
- Shippers
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Nicholas J. Randall, President and Chief Executive Officer
Nicholas J. Randall was appointed President and Chief Executive Officer of FreightCar America, Inc. effective May 1, 2024. He joined the company in 2023 as Chief Operating Officer. Mr. Randall has over 20 years of global experience in leading engineering and manufacturing operations at world-class companies and, since joining FreightCar America, has managed its operations and overseen the completion of its manufacturing campus in Castaños, Mexico.
Michael Riordan, Chief Financial Officer
Michael Riordan has served as Vice President, Chief Financial Officer, and Treasurer of FreightCar America, Inc. since March 2022. He joined the company in November 2020, initially serving as Chief Accounting Officer and Controller until his promotion. Prior to joining FreightCar America, Mr. Riordan was Controller at InnerWorkings from 2017 to 2020. He also held several financial management positions at Zekelman Industries (including its subsidiary Wheatland Tube, LLC) from 2013 to 2017 and various positions at PricewaterhouseCoopers earlier in his career. Mr. Riordan holds a Bachelor's Degree in Accounting & Finance from Miami University and is a Certified Public Accountant.
Matthew Tonn, Chief Commercial Officer
Matthew Tonn has served as Chief Commercial Officer of FreightCar America, Inc. since September 2019. He leads the company's sales and marketing efforts.
Juan Carlos Fuentes Sierra, Corporate Controller and Chief Accounting Officer
Juan Carlos Fuentes Sierra has served as Corporate Controller and Chief Accounting Officer of FreightCar America, Inc. since April 2022.
Celia Perez, Vice President, General Counsel and Corporate Secretary
Celia Perez is the Vice President, General Counsel, and Corporate Secretary for FreightCar America, Inc.
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Key Risks to FreightCar America (RAIL)
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Cyclical Demand and Industry Weakness: FreightCar America operates in a highly cyclical industry, and its performance is significantly impacted by the demand for new railcars. Recent reports indicate "ongoing industry uncertainty," "macro headwinds," and "sluggish freight demand" are weighing on order conversion, leading to a significant decrease in backlog and a miss on revenue guidance for fiscal year 2026. If industry conditions do not improve as expected, it could have a negative impact on future revenue and profitability.
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Intense Competition: The company faces substantial competition within the North American railcar industry from established rivals such as CRRC, Greenbrier (GBX), and Trinity Industries (TRN). This intense competition, especially during periods of low market demand and excess manufacturing capacity, could lead to loss of market share and hinder FreightCar America's growth.
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High Debt and Capital-Intensive Business: FreightCar America's business is capital-intensive, leading to a significant amount of debt. The company ended 2025 with $152 million in total debt. While currently cash flow positive, an extended period of negative cash flow, potentially exacerbated by weak industry demand, could make managing this high debt a challenge.
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Here are 3-5 expected drivers of future revenue growth for FreightCar America (RAIL) over the next 2-3 years:
- Expansion of Aftermarket Business: FreightCar America is strategically growing its aftermarket business, which is expected to contribute to more stable and recurring revenue. The company completed the acquisition of Carly Railcar Components, with this acquisition projected to add $13 million to $15 million in aftermarket revenue in 2026. Overall aftermarket revenue is anticipated to be around $40 million to $41 million in 2026. This segment saw significant growth in 2025, with aftermarket revenue growing by 48.8% year-over-year in the fourth quarter.
- Growth in the Tank Car Market and Retrofit Programs: The company is making strategic investments to expand its presence in the tank car market. FreightCar America is progressing with tank car retrofit programs, with shipments for these programs expected to begin in the latter half of 2026 and continue into 2027. Capital expenditures in 2026 are partly allocated to support the vertical integration of tank car manufacturing.
- Conversion of Existing Backlog into Deliveries: FreightCar America concluded 2025 with a backlog of 1,926 railcar units, valued at $137.5 million. This backlog provides significant visibility for production in 2026, and the company is focused on converting these orders into profitable deliveries. The backlog represents a diversified mix of both new railcar builds and conversion programs.
- Anticipated Industry Demand Recovery and Replacement Cycle: Management notes that underlying fleet fundamentals in the North American railcar market remain strong due to aging equipment and deferred replacements across various car types. Long-term industry demand for railcar replacements is estimated to be between 35,000 and 40,000 units annually, which is considerably higher than the 25,000-30,000 deliveries expected for the overall industry in 2026. Additionally, an estimated 150,000 to 200,000 railcars are expected to be retired over the next four years, indicating a predictable driver for future replacement demand.
- Market Share Gains: FreightCar America increased its delivery market share by nearly 300 basis points in 2025, despite an overall decline in total industry deliveries. The company expects to maintain or further grow its market share in the coming years, driven by its strong commercial strategy, efficient operational execution, and ability to meet customer requirements.
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Share Issuance
- FreightCar America issued warrants to OC III LFE II LP and its affiliates in 2020, 2021, 2022, and 2023.
- The number of outstanding shares for FreightCar America increased from 15.95 million in 2021 to 31.67 million in 2025.
Outbound Investments
- In 2025, FreightCar America acquired Carly Railcar Components to expand its aftermarket activities, enhancing its growing parts business and supporting more stable, recurring revenue.
Capital Expenditures
- Capital expenditures for the year ended December 31, 2024, totaled $5.0 million, a decrease year over year primarily due to the deferral of certain projects to 2026.
- Capital expenditures for 2025 amounted to $3.4 million.
- Anticipated capital expenditures for 2026 are expected to range between $7.0 million and $10.0 million, with a focus on production equipment enhancements and supporting manufacturing operations, including a portion allocated to the tank car retrofit program and future tank car production.
Peer Outperformance in Rail Transportation
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 4.9% | 113.4% | 189.3% | STRL 2263% · CDNL 2216% · FIX 2188% |
| Marine Transportation | 9 | 75.9% | 107.9% | 157.6% | HOS 44163% · ASC 540% · MATX 195% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 5.8% | 51.3% | 128.1% | CAT 348% · ALSN 247% · WAB 234% |
| Aerospace & Defense | 56 | -6.7% | 74.0% | 73.2% | ATI 1012% · FTAI 956% · HWM 621% |
| Trading Companies & Distributors | 19 | 8.8% | 43.2% | 59.2% | DXPE 563% · AIT 295% · WCC 220% |
| Rail Transportation ← | 7 | 24.1% | 55.7% | 52.3% | FSTR 144% · CSX 65% · RAIL 63% |
| Industrial Machinery & Supplies & Components | 73 | 9.4% | 55.0% | 38.9% | CRS 1184% · PSIX 1105% · EROC 637% |
| Diversified Support Services | 33 | 11.4% | 36.2% | 34.5% | LIME 3198% · TH 445% · WLFC 358% |
| Cargo Ground Transportation | 16 | 35.3% | 0.2% | 29.7% | XPO 240% · R 228% · CVLG 155% |
| Electrical Components & Equipment | 41 | -1.0% | 62.2% | 24.6% | POWL 2390% · BE 1308% · VRT 957% |
| Building Products | 34 | -13.8% | 1.8% | 18.9% | LMB 638% · GFF 399% · PPIH 291% |
| Passenger Ground Transportation | 3 | -31.7% | 49.9% | 4.9% | UBER 54% · CAR 5% · LYFT -73% |
| Industrial Conglomerates | 17 | 12.1% | 9.3% | 2.7% | RCMT 455% · CSW 148% · DD 76% |
| Agricultural & Farm Machinery | 17 | 2.1% | 3.8% | -5.6% | BLBD 191% · DE 114% · GENC 62% |
| Environmental & Facilities Services | 29 | -9.4% | 21.8% | -6.3% | CECO 958% · ADUR 422% · NVRI 350% |
| Research & Consulting Services | 14 | -15.6% | -24.4% | -12.9% | HURN 205% · CRAI 73% · GRNQ 62% |
| Data Processing & Outsourced Services | 6 | -33.8% | -15.3% | -26.3% | EXLS 42% · BR 6% · G -25% |
| Passenger Airlines | 11 | 10.5% | 22.0% | -29.9% | LTM 3123% · UAL 143% · SKYW 107% |
| Office Services & Supplies | 9 | 8.6% | 13.0% | -34.5% | PBI 171% · TILE 145% · HNI 52% |
| Human Resource & Employment Services | 22 | 4.2% | -14.1% | -37.6% | BBSI 84% · ADP 50% · PAYX 21% |
| Air Freight & Logistics | 12 | -23.0% | -20.9% | -39.3% | CHRW 90% · FDX 78% · EXPD 59% |
| Security & Alarm Services | 10 | -24.5% | 17.1% | -46.6% | CIX 161% · MG 127% · NL 75% |
| Airport Services | 3 | -73.9% | -77.8% | -61.5% | JOBY -39% · ASLE -62% · UP -100% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| FreightCar America Earnings Notes | 12/16/2025 | |
| Is FreightCar America Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 54.99 |
| Mkt Cap | 2.2 |
| Rev LTM | 2,474 |
| Op Inc LTM | 267 |
| FCF LTM | 144 |
| FCF 3Y Avg | 143 |
| CFO LTM | 430 |
| CFO 3Y Avg | 434 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.9% |
| Rev Chg 3Y Avg | 2.3% |
| Rev Chg Q | -2.7% |
| QoQ Delta Rev Chg LTM | -0.7% |
| Op Inc Chg LTM | -4.6% |
| Op Inc Chg 3Y Avg | 21.5% |
| Op Mgn LTM | 11.5% |
| Op Mgn 3Y Avg | 11.5% |
| QoQ Delta Op Mgn LTM | -1.1% |
| CFO/Rev LTM | 16.5% |
| CFO/Rev 3Y Avg | 13.3% |
| FCF/Rev LTM | 5.9% |
| FCF/Rev 3Y Avg | 4.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing | 474 | 541 | 346 | 353 | 193 |
| Aftermarket | 27 | 18 | 12 | ||
| Corporate | 0 | 0 | 0 | 12 | 10 |
| Total | 501 | 559 | 358 | 365 | 203 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing | 62 | 60 | 32 | 15 | -1 |
| Aftermarket | 7 | 7 | 4 | ||
| Corporate | -35 | -29 | -25 | -30 | -22 |
| Total | 34 | 37 | 10 | -15 | -23 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing | 142 | 166 | 207 | 149 | 154 |
| Corporate | 66 | 46 | 42 | 51 | 46 |
| Consolidated income taxes receivable and deferred income taxes | 55 | 1 | |||
| Aftermarket | 27 | 11 | 9 | ||
| Consolidated income taxes receivable | 1 | 0 | 0 | ||
| Total | 290 | 224 | 259 | 200 | 201 |
Price Behavior
| Market Price | $7.41 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 04/06/2005 | |
| Distance from 52W High | -49.9% | |
| 50 Days | 200 Days | |
| DMA Price | $7.51 | $9.23 |
| DMA Trend | down | down |
| Distance from DMA | -1.3% | -19.7% |
| 3M | 1YR | |
| Volatility | 49.5% | 58.7% |
| Downside Capture | 294.87 | 254.78 |
| Upside Capture | 110.12 | 175.86 |
| Correlation (SPY) | 27.3% | 36.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.64 | 1.80 | 0.74 | 1.26 | 1.64 | 1.43 |
| Up Beta | 2.39 | 1.11 | 0.19 | 0.55 | 1.08 | 1.47 |
| Down Beta | -2.11 | 0.52 | -0.26 | -0.42 | 0.74 | 0.86 |
| Up Capture | 162% | 89% | 109% | 115% | 275% | 740% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 18 | 30 | 61 | 121 | 360 |
| Down Capture | 599% | 378% | 156% | 230% | 169% | 110% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 21 | 29 | 59 | 120 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RAIL | |
|---|---|---|---|---|
| RAIL | -18.6% | 59.3% | -0.12 | - |
| Sector ETF (XLI) | 12.7% | 17.2% | 0.53 | 41.8% |
| Equity (SPY) | 17.6% | 13.0% | 0.98 | 36.0% |
| Gold (GLD) | 18.0% | 29.3% | 0.56 | 21.3% |
| Commodities (DBC) | 46.6% | 20.7% | 1.75 | -13.1% |
| Real Estate (VNQ) | 5.2% | 13.6% | 0.12 | 18.1% |
| Bitcoin (BTCUSD) | -26.0% | 44.9% | -0.54 | 15.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RAIL | |
|---|---|---|---|---|
| RAIL | 6.7% | 67.7% | 0.38 | - |
| Sector ETF (XLI) | 12.7% | 17.6% | 0.55 | 31.7% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 30.5% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 11.1% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 7.3% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.05 | 21.4% |
| Bitcoin (BTCUSD) | 12.7% | 52.6% | 0.42 | 15.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RAIL | |
|---|---|---|---|---|
| RAIL | -6.7% | 73.8% | 0.23 | - |
| Sector ETF (XLI) | 13.3% | 20.0% | 0.58 | 31.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 27.3% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 5.7% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 11.6% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 21.7% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 7.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/9/2026 | -21.1% | -35.6% | -32.5% |
| 11/10/2025 | 11.8% | -2.9% | 12.9% |
| 8/4/2025 | 4.8% | -8.5% | -15.4% |
| 5/5/2025 | 9.0% | 11.2% | 30.7% |
| 3/12/2025 | 17.5% | 3.0% | -24.4% |
| 11/12/2024 | -35.3% | -40.0% | -37.9% |
| 8/12/2024 | 16.8% | 64.8% | 165.3% |
| 3/18/2024 | 10.9% | 19.0% | 11.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 8 |
| # Negative | 10 | 12 | 13 |
| Median Positive | 11.8% | 15.4% | 33.6% |
| Median Negative | -9.1% | -11.9% | -13.8% |
| Max Positive | 24.1% | 64.8% | 165.3% |
| Max Negative | -35.3% | -40.0% | -37.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/9/2026 | -21.1% | -35.6% | -32.5% |
| 11/10/2025 | 11.8% | -2.9% | 12.9% |
| 8/4/2025 | 4.8% | -8.5% | -15.4% |
| 5/5/2025 | 9.0% | 11.2% | 30.7% |
| 3/12/2025 | 17.5% | 3.0% | -24.4% |
| 11/12/2024 | -35.3% | -40.0% | -37.9% |
| 8/12/2024 | 16.8% | 64.8% | 165.3% |
| 3/18/2024 | 10.9% | 19.0% | 11.2% |
| 11/6/2023 | -7.4% | -13.3% | -12.6% |
| 8/7/2023 | 4.4% | -0.3% | -10.1% |
| 5/9/2023 | -4.2% | 3.1% | -5.6% |
| 11/7/2022 | -10.9% | -10.4% | -19.2% |
| 8/8/2022 | 14.5% | 15.4% | -8.8% |
| 5/10/2022 | -32.9% | -16.0% | -3.6% |
| 3/22/2022 | 24.1% | 33.9% | 36.5% |
| 11/15/2021 | -3.1% | -21.5% | -16.8% |
| 8/16/2021 | 6.5% | -0.6% | -6.9% |
| 5/17/2021 | -17.7% | -18.8% | -13.8% |
| 3/24/2021 | 20.1% | 50.0% | 59.3% |
| 11/10/2020 | -2.6% | 1.9% | 108.4% |
| 8/11/2020 | -4.5% | -7.3% | 20.2% |
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 8 |
| # Negative | 10 | 12 | 13 |
| Median Positive | 11.8% | 15.4% | 33.6% |
| Median Negative | -9.1% | -11.9% | -13.8% |
| Max Positive | 24.1% | 64.8% | 165.3% |
| Max Negative | -35.3% | -40.0% | -37.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/03/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/18/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/27/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/03/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/18/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/27/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/22/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/24/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/12/2020 | 10-Q |
| 12/31/2019 | 03/04/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Perez, Celia | GC and Corp Secretary | Direct | Sell | 6262025 | 8.59 | 7,982 | 68,596 | 432,492 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Perez, Celia | GC and Corp Secretary | Direct | Sell | 6262025 | 8.59 | 7,982 | 68,596 | 432,492 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Rail Transportation Resources |
| Railway Gazette International |
| Progressive Railroading |
| Railway Age |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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