FreightCar America, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FreightCar America, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	524	409	317	230	108	203	365	358	559	501
Cost of revenue	484	406	320	244	122	192	339	316	492	428
Gross profit	40.2	3	-3.63	-14.3	-13.5	11.5	25.8	41.8	67	73.2
Research and development	0.39	0.3	0.04	0.96
Selling, general and administrative	36.4	33	29.1	38.3	29.8	27.5	28.2	27.5	32.9	39.3
Operating income	15.8	-31.8	-32.1	-75.6	-80.6	-22.8	-15	10.5	37.3	33.9
Interest expense	0.17	0.16	0.16	0.61
Other non-operating income	0.11	0.54	1.85	0.86	0.58	0.82	2.43	-0.44	-0.95	4.98
Pre-tax income	15.8	-31.4	-30.4	-75.4	-85.9	-40	-36.5	-22.1	-70	-10.9
Income tax	3.46	-8.85	10.2	-0.12	0.2	1.41	2.31	1.5	5.84	-49
Net income to minority interests				-0.06	-1.66
Net income	12.3	-22.6	-40.6	-75.2	-84.4	-41.4	-38.8	-33.6	-96	36.9
EBITDA	25.6	-22.4	-20.1	-63.2	-71.4	-18.5	-10.9	15.1	43.1	40.1
EPS, basic	1.00	-1.82	-3.26	-5.95	-6.29	-2.00	-1.56	-1.18	-3.12	1.16
EPS, diluted	1.00	-1.82	-3.26	-5.95	-6.29	-2.00	-1.56	-1.18	-3.12	1.09
Shares, basic (weighted)	12.3	12.3	12.3	12.4	13.4	20.8	24.8	28.4	30.7	31.8
Shares, diluted (weighted)	12.3	12.3	12.3	12.4	13.4	20.8	24.8	28.4	30.7	33.8
Dividend per share	0.36	0.27

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	92.8	87.8	45.1	66.3	54	26.2	37.9	40.6	44.5	64.3
Receivables	25.2	7.58	18.2	6.99	9.42	9.57	9.57	6.41	12.5	12.4
Inventory	97.9	45.3	64.6	25.1	38.8	56	64.3	125	75.3	68.3
Other current assets	6.06	5.1	5.01	7.04	3.65	5.09	5.47	4.87	8.31	8.88
Total current assets	241	200	156	110	121	137	129	180	145	160
Property, plant and equipment	46.3	38.3	45.3	38.6	19.6	18.2	23.2	31.3	30.1	31
Lease right-of-use assets				56.5	18.2	16.7	1.6	2.83	2.42	40.3
Goodwill	21.5	21.5	21.5
Intangible assets	0
Other non-current assets	1.98	3.3	2.31	1.55	3.04	8.87	1.59	1.84	0.25	0.95
Total assets	339	296	290	245	183	201	200	259	224	290
Accounts payable	34.5	23.3	34.7	11.7	17.8	41.2	48.4	84.4	49.6	55.7
Accrued liabilities	3.12	1.81	1.64
Deferred revenue		0.36	3	5.12	4.35	3.3	0
Short-term debt					17.6	0	40.7	29.4	2.88	9.73
Total current liabilities	54.1	40.3	62.1	49.4	71.1	69.3	106	137	80.8	85.6
Long-term debt				10.2	37.7	79.5	51.5	0	106	97.5
Lease liabilities				53.8	18.5	16.6	1.78	3.16	2.65	43.2
Other non-current liabilities	4.24	0.39	0.8	3.42	2.6	3.13	3.75	2.56	1.41	1.33
Total liabilities	82.3	64.2	96.1	128	152	202	228	222	374	397
Total debt				10.2	55.3	79.5	92.2	29.4	108	107
Paid-in capital	92	90.3	90.6	83	82.1	83.7	89.1	94.1	69.4	72.6
Retained earnings	188	161	121	45.8	-38.6	-80.1	-119	-143	-221	-183
Treasury stock	-14.6	-12.6	-9.72	-0.99	-1.34
Other comprehensive income	-8.16	-7.57	-8.19	-10.8	-11.8	-5.52	1.02	2.37	0.72	2.32
Shareholders' equity	257	232	194	117	30.5	-1.66	-28.6
Minority interests				-0.06
Total equity	257	232	194	117	-30.5	-1.66	-28.6	-46.2	-150	-107
Total liabilities and equity	339	296	290	245	183	201	200	259	224	290
Shares outstanding						15.9	17.2	17.9	19	19.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	12.3	-22.6	-40.6	-75.2	-84.4	-41.4	-38.8	-23.6	-75.8	38.1
Depreciation and amortization	9.74	9.37	12	12.4	9.2	4.3	4.14	4.61	5.76	6.21
Stock-based compensation	1.15	1.16	3.2	1.23	1.03	2.98	2.11	1.24	3.11	3.63
Deferred income tax	22.7	-6.42	9.97	0.18	0.14		-0.01	-1.09	0.08	-52.4
Change in receivables	15.9	16.2	-10.6	11.2	-2.43	0.15	0	3.16	-6.1	1.37
Change in inventory	17.1	50.6	-16.3	40.6	-17.9	-12.4	-8.48	-60.9	55	2.8
Change in payables	0.26	-11.2	10.7	-24	3.16	7.88	8.18	39.9	-38.4	10.8
Cash from operations	0.22	40.3	-31.6	-19	-58.9	-55.4	11.5	4.77	44.9	34.8
Capital expenditures	-13.8	-0.97	-2.19	-5.57	-9.85	-2.29	-7.82	-12.7	-5.02	-3.38
Acquisitions									0	-6.35
Cash from investing	14.1	-45.3	-10.9	31	-6.09	-1.68	-7.82	-4.37	-5.02	-9.14
Debt issued				10.2	50	16	0	0	115	0
Debt repaid									0	-2.88
Dividends paid	-4.46	-3.35						0	-27.9	0
Cash from financing	-4.62	-3.37	-0.13	9.21	52.8	29.3	7.99	2.25	-36	-5.79
Net change in cash	9.68	-8.32	-42.7	21.2	-12.2	-27.8	11.7	2.65	3.89	19.8
Free cash flow	-13.6	39.4	-33.8	-24.6	-68.8	-57.7	3.69	-7.95	39.9	31.4
Interest paid	0.08	0.07	0.07	0.2	0.42	6.54	8.85	4.95	4.58	13.9
Income taxes paid	4.67	0.1	0.01	0.08				2.1	5.99	7.63

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $7.18 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	12.5%	Gross profit / revenue.
Operating margin	3.8%	Operating income / revenue.
EBITDA margin	5.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-2.0%	Pre-tax income / revenue.
Net margin	-2.7%	Net income / revenue.
FCF margin	3.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.6%	Cash from operations / revenue.
Return on assets (ROA)	-4.5%	Net income / average total assets.
SG&A / revenue	8.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.7%	Capital expenditures / revenue.
D&A / revenue	1.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-10.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	35.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	41.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	-9.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-6.9%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-22.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	44.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-21.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	104.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	29.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	10.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	10.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	20.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.81x	Current assets / current liabilities.
Quick ratio	0.92x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.76x	(Cash + short-term investments) / current liabilities.
Debt / assets	36.5%	Total debt / total assets.
Liabilities / assets	86.9%	Total liabilities / total assets.
Net debt	$37.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.55x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$67.6M	Current assets - current liabilities.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.68x	Revenue / average total assets.
Fixed asset turnover	16.3x	Revenue / average property, plant and equipment.
Inventory turnover	7.01x	Cost of revenue / average inventory.
Days inventory	52 days	365 x average inventory / cost of revenue.
Receivables turnover	35.1x	Revenue / average receivables.
Days sales outstanding	10 days	365 x average receivables / revenue.
Days payables	57 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	6 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	15.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.39	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.51	Revenue / diluted weighted shares.
FCF per share	$0.56	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.66	Cash from operations / diluted weighted shares.
Cash per share	$1.92	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$235.4M	Share price x shares outstanding.
Enterprise value	$273.2M	Market cap + total debt - cash - short-term investments.
P/S	0.51x	Market cap / revenue.
P/FCF	13.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.1x	Market cap / cash from operations, when positive.
EV/Sales	0.59x	Enterprise value / revenue.
EV/EBIT	15.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.6%	Free cash flow / market cap.
Earnings yield	-5.3%	Net income / market cap (the inverse of P/E).

What was FreightCar America, Inc.'s revenue in fiscal 2025?

FreightCar America, Inc. reported revenue of $501.0M for fiscal 2025, 10.4% lower than the year before.

Was FreightCar America, Inc. profitable in fiscal 2025?

Yes. Net income was $36.9M, a net margin of 7.4%.

How much free cash flow did FreightCar America, Inc. generate in fiscal 2025?

Cash from operations of $34.8M minus capital expenditures of $3.4M left free cash flow of $31.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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