Wabtec posted an investor presentation on March 3, 2026, detailing its strategic vision and financial performance. The company's 5-year outlook (2025-2029) targets a Mid Single Digit Organic Sales CAGR, Double Digit Adjusted EPS CAGR, over 90% Cash from Operations Conversion, and more than 350 basis points of Adjusted Operating Margin Expansion. Key highlights for 2025 include $11.17 billion in Sales (7.5% YOY increase), a 20.3% Adjusted Operating Margin (140 bps YOY increase), $1.76 billion in Cash Flow from Operations (18.7% YOY increase), and 104% Cash Conversion. Adjusted EPS for 2025 was $8.97, while GAAP EPS was $6.83. Wabtec maintains a resilient portfolio supported by a robust 12-month backlog of $8.2 billion in Q4 2025 and a significant recurring revenue base, which drove 56% of profit in 2025. The company is driving continuous operational improvement, achieving historical average manufacturing cost productivity of 3-5% per year and material cost deflation of 2-3% per year since 2019. Wabtec is committed to creating a more sustainable future through lower emission locomotives, including Tier 4, Biofuels, Battery Electric (FLXDRIVE), and Internal Combustion Engine (ICE) Hydrogen technologies. Integration 3.0 initiatives are expected to generate $115 million to $140 million in run-rate savings, with anticipated expenses ranging from $125 million to $155 million. Portfolio optimization efforts in 2025 pruned $72 million of low-margin, non-strategic revenue, with an additional $60 million expected to be pruned in 2026.