RAIL vs. WNC

Last updated Jun 3, 2026

RAIL (FreightCar America, Inc.) and WNC (Wabash National Corporation) are both stocks. Both are in the Industrials sector — RAIL in Railroads, WNC in Farm & Heavy Construction Machinery. Over the past 10 years, RAIL returned -5.97%/yr vs -3.83%/yr for WNC. At a 0.36 correlation, their price movements are largely independent.

Performance

RAIL vs. WNC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FreightCar America, Inc. (RAIL) and Wabash National Corporation (WNC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAIL achieves a -31.62% return, which is significantly lower than WNC's -8.31% return. Over the past 10 years, RAIL has underperformed WNC with an annualized return of -5.97%, while WNC has yielded a comparatively higher -3.83% annualized return.

RAIL

• 1D: -0.92%
• 1M: -8.80%
• YTD: -31.62%
• 6M: -7.80%
• 1Y: -2.20%
• 3Y*: 38.01%
• 5Y*: 1.99%
• 10Y*: -5.97%

WNC

• 1D: 1.96%
• 1M: 1.43%
• YTD: -8.31%
• 6M: -9.56%
• 1Y: -5.82%
• 3Y*: -31.11%
• 5Y*: -12.01%
• 10Y*: -3.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RAIL vs. WNC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RAIL FreightCar America, Inc.	-31.62%	23.55%	231.85%	-15.63%	-13.28%	53.11%	16.43%	-69.06%	-60.83%	16.26%
WNC Wabash National Corporation	-8.31%	-48.12%	-32.19%	14.94%	18.17%	15.53%	20.30%	15.52%	-38.80%	39.25%

Correlation

The correlation between RAIL and WNC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Apr 7, 2005	0.36

The correlation between RAIL and WNC shifts across timeframes, from 0.20 (3 years) to 0.36 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap RAIL : $268.92M WNC : $317.36M
EPS RAIL : $0.88 WNC : -$1.56
PS Ratio RAIL : 0.54 WNC : 0.22
Total Revenue (TTM) RAIL : $469.01M WNC : $1.47B
Gross Profit (TTM) RAIL : $69.61M WNC : $29.15M
EBITDA (TTM) RAIL : -$1.50M WNC : -$18.50M

Return for Risk

RAIL vs. WNC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RAIL

RAIL Risk / Return Rank: 38
RAIL Sharpe Ratio Rank: 38
RAIL Sortino Ratio Rank: 39
RAIL Omega Ratio Rank: 38
RAIL Calmar Ratio Rank: 38
RAIL Martin Ratio Rank: 37

WNC

WNC Risk / Return Rank: 34
WNC Sharpe Ratio Rank: 35
WNC Sortino Ratio Rank: 35
WNC Omega Ratio Rank: 33
WNC Calmar Ratio Rank: 35
WNC Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RAIL vs. WNC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FreightCar America, Inc. (RAIL) and Wabash National Corporation (WNC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	RAIL	WNC	Difference
Sharpe ratio Return per unit of total volatility	-0.04	-0.11	+0.08
Sortino ratio Return per unit of downside risk	0.42	0.21	+0.21
Omega ratio Gain probability vs. loss probability	1.05	1.02	+0.03
Calmar ratio Return relative to maximum drawdown	-0.09	-0.16	+0.07
Martin ratio Return relative to average drawdown	-0.16	-0.33	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RAIL vs. WNC - Sharpe Ratio Comparison

The current RAIL Sharpe Ratio is -0.04, which is higher than the WNC Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of RAIL and WNC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RAIL	WNC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	-0.11	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.26	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	-0.09	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.00	-0.06

Drawdowns

RAIL vs. WNC - Drawdown Comparison

The maximum RAIL drawdown since its inception was -98.88%, roughly equal to the maximum WNC drawdown of -98.61%. Use the drawdown chart below to compare losses from any high point for RAIL and WNC.

Drawdown Indicators

	RAIL	WNC	Difference
Max Drawdown Largest peak-to-trough decline	-98.88%	-98.61%	-0.27%
Max Drawdown (1Y) Largest decline over 1 year	-48.99%	-43.80%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-71.67%	-76.39%	+4.72%
Max Drawdown (5Y) Largest decline over 5 years	-71.67%	-76.39%	+4.72%
Max Drawdown (10Y) Largest decline over 10 years	-96.23%	-76.39%	-19.84%
Current Drawdown Current decline from peak	-88.87%	-75.10%	-13.77%
Average Drawdown Average peak-to-trough decline	-71.85%	-55.54%	-16.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.19%	21.46%	+5.73%

Volatility

RAIL vs. WNC - Volatility Comparison

FreightCar America, Inc. (RAIL) and Wabash National Corporation (WNC) have volatilities of 12.90% and 13.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAIL	WNC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.90%	13.41%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	45.71%	38.35%	+7.36%
Volatility (1Y) Calculated over the trailing 1-year period	62.91%	51.75%	+11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.27%	46.42%	+22.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.69%	45.00%	+28.69%

Dividends

RAIL vs. WNC - Dividend Comparison

RAIL has not paid dividends to shareholders, while WNC's dividend yield for the trailing twelve months is around 4.11%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RAIL FreightCar America, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.58%	2.41%	1.85%
WNC Wabash National Corporation	4.11%	3.70%	1.87%	1.25%	1.42%	1.64%	1.39%	2.72%	2.29%	1.38%	0.00%	0.00%

Financials

RAIL vs. WNC - Profitability Comparison

The chart below illustrates the profitability comparison between FreightCar America, Inc. and Wabash National Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

RAIL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, FreightCar America, Inc. reported a gross profit of 10.81M and revenue of 64.31M. Therefore, the gross margin over that period was 16.8%.

WNC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wabash National Corporation reported a gross profit of -10.58M and revenue of 303.23M. Therefore, the gross margin over that period was -3.5%.

RAIL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, FreightCar America, Inc. reported an operating income of -594.00K and revenue of 64.31M, resulting in an operating margin of -0.9%.

WNC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wabash National Corporation reported an operating income of -52.36M and revenue of 303.23M, resulting in an operating margin of -17.3%.

RAIL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, FreightCar America, Inc. reported a net income of 41.65M and revenue of 64.31M, resulting in a net margin of 64.8%.

WNC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wabash National Corporation reported a net income of -45.17M and revenue of 303.23M, resulting in a net margin of -14.9%.

Frequently Asked Questions

Can I hold both RAIL and WNC in my portfolio?

RAIL and WNC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAIL or WNC?

WNC has higher volatility (13.41%) compared to RAIL (12.90%). In terms of maximum drawdown, RAIL dropped -98.88% vs WNC's -98.61%.

Which has better risk-adjusted returns?

RAIL currently has the higher Sharpe Ratio (-0.04 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.