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Freightcar Amer Inc Financials

RAIL
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Freightcar Amer Inc (RAIL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI RAIL FY2025

Margin repair and low capital needs turned a smaller revenue base into cash generation despite negative equity.

FY2025 delivered a gross margin of 14.6% even after revenue fell from FY2024, and FY2023 had already begun the same step-up, pointing to a cost or mix reset rather than simple volume leverage. The move from -$75.8M to $38.1M in net income was much larger than the change in operating income, so the headline earnings swing came mainly from below-the-line items rather than a sudden jump in core operations.

The company now has two straight years of positive free cash flow, including $31.4M in FY2025, while capex used only $3.4M. That supports a low-capital-intensity profile once production is running efficiently, because most operating cash is not being pulled back into heavy reinvestment.

Short-term liquidity looks workable, with a current ratio of 1.9x and cash of $64.3M. But negative equity of -$107.4M means the balance sheet is still funded more by liabilities and cumulative losses than by retained capital.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 41 / 100
Financial Profile 41/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Freightcar Amer Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
35

Freightcar Amer Inc has an operating margin of 6.8%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is up from 6.7% the prior year.

Growth
64

Freightcar Amer Inc's revenue declined 10.4% year-over-year, from $559.4M to $501.0M. This contraction results in a growth score of 64/100.

Leverage
77

Freightcar Amer Inc carries a low D/E ratio of -0.91, meaning only $-0.91 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
33

Freightcar Amer Inc's current ratio of 1.87 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
37

Freightcar Amer Inc has a free cash flow margin of 6.3%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Altman Z-Score Distress
1.77

Freightcar Amer Inc scores 1.77, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
6/9

Freightcar Amer Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed
0.91x

For every $1 of reported earnings, Freightcar Amer Inc generates $0.91 in operating cash flow ($34.8M OCF vs $38.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
1.9x

Freightcar Amer Inc earns $1.9 in operating income for every $1 of interest expense ($33.9M vs $17.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$501.0M
YoY-10.4%
5Y CAGR+35.8%
10Y CAGR-4.2%

Freightcar Amer Inc generated $501.0M in revenue in fiscal year 2025. This represents a decrease of 10.4% from the prior year.

EBITDA
$40.1M
YoY-6.9%
10Y CAGR-3.4%

Freightcar Amer Inc's EBITDA was $40.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.9% from the prior year.

Net Income
$38.1M
YoY+150.3%
10Y CAGR+1.8%

Freightcar Amer Inc reported $38.1M in net income in fiscal year 2025. This represents an increase of 150.3% from the prior year.

EPS (Diluted)
$1.09
YoY+134.9%
10Y CAGR-8.3%

Freightcar Amer Inc earned $1.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 134.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$31.4M
YoY-21.3%

Freightcar Amer Inc generated $31.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 21.3% from the prior year.

Cash & Debt
$64.3M
YoY+44.6%
5Y CAGR+3.5%
10Y CAGR-2.5%

Freightcar Amer Inc held $64.3M in cash against $97.5M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
19M
YoY+0.7%

Freightcar Amer Inc had 19M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.

Margins & Returns

Gross Margin
14.6%
YoY+2.6pp
5Y CAGR+27.1pp
10Y CAGR+3.9pp

Freightcar Amer Inc's gross margin was 14.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.6 percentage points from the prior year.

Operating Margin
6.8%
YoY+0.1pp
5Y CAGR+81.1pp
10Y CAGR+0.7pp

Freightcar Amer Inc's operating margin was 6.8% in fiscal year 2025, reflecting core business profitability. This is up 0.1 percentage points from the prior year.

Net Margin
7.6%
YoY+21.2pp
5Y CAGR+85.5pp
10Y CAGR+3.5pp

Freightcar Amer Inc's net profit margin was 7.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 21.2 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$3.4M
YoY-32.7%
5Y CAGR-19.3%
10Y CAGR-14.8%

Freightcar Amer Inc invested $3.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 32.7% from the prior year.

RAIL Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $64.3M-48.8% $125.6M-21.8% $160.5M+35.3% $118.6M+23.2% $96.3M-30.1% $137.7M+21.6% $113.3M-23.2% $147.4M
Cost of Revenue $53.5M-50.8% $108.8M-20.2% $136.3M+35.2% $100.8M+23.1% $81.9M-29.8% $116.7M+20.2% $97.1M-24.8% $129.0M
Gross Profit $10.8M-35.6% $16.8M-30.7% $24.2M+35.8% $17.8M+23.8% $14.4M-31.5% $21.0M+29.7% $16.2M-12.1% $18.4M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $11.4M+26.9% $9.0M-6.8% $9.6M-4.6% $10.1M-3.9% $10.5M+12.3% $9.4M+24.4% $7.5M-11.4% $8.5M
Operating Income -$594K-107.6% $7.8M-46.5% $14.6M+88.9% $7.7M+99.1% $3.9M-66.7% $11.6M+34.4% $8.7M-34.1% $13.1M
Interest Expense -$3.4M+19.7% -$4.2M+9.4% -$4.6M-5.8% -$4.4M-1.1% -$4.3M-318.9% -$1.0M+34.4% -$1.6M+14.6% -$1.8M
Income Tax $3.7M+81.9% $2.0M+1484.9% -$146K+99.7% -$52.7M-2969.7% $1.8M-26.9% $2.5M-26.3% $3.4M+36.4% $2.5M
Net Income $41.6M+351.2% -$16.6M-122.7% -$7.4M-163.7% $11.7M-76.8% $50.4M+45.7% $34.6M+132.3% -$107.0M-1409.1% $8.2M
EPS (Diluted) $1.15 N/A $-0.23-167.6% $0.34-77.6% $1.52 N/A $-3.57-3345.5% $0.11

RAIL Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $288.0M-0.7% $290.0M-14.9% $340.8M+3.9% $328.1M+31.0% $250.5M+11.7% $224.2M-8.8% $245.9M+18.7% $207.2M
Current Assets $163.5M+2.2% $160.0M-27.6% $221.1M+8.4% $204.0M+17.9% $173.0M+19.3% $145.0M-13.7% $168.1M+32.3% $127.1M
Cash & Equivalents $52.8M-17.9% $64.3M+2.5% $62.7M+2.3% $61.4M+13.4% $54.1M+21.7% $44.5M-0.8% $44.8M+13.9% $39.4M
Inventory $80.1M+17.2% $68.3M-34.5% $104.2M-2.7% $107.1M+35.4% $79.1M+5.1% $75.3M-11.2% $84.8M+31.5% $64.5M
Accounts Receivable $12.8M+2.6% $12.4M-61.7% $32.5M+100.7% $16.2M-11.7% $18.4M+46.8% $12.5M-48.6% $24.3M+89.8% $12.8M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $353.3M-11.1% $397.5M-7.9% $431.6M+4.9% $411.6M+18.3% $347.9M-7.1% $374.5M-6.9% $402.3M+57.1% $256.1M
Current Liabilities $90.3M+5.5% $85.6M-35.6% $132.8M+2.4% $129.8M+20.1% $108.1M+33.7% $80.8M-22.9% $104.8M+53.9% $68.1M
Long-Term Debt $98.2M+0.7% $97.5M-6.8% $104.7M-0.3% $105.0M-0.3% $105.3M-0.2% $105.5M N/A N/A
Total Equity -$65.3M+39.2% -$107.4M-18.2% -$90.9M-8.9% -$83.5M+14.3% -$97.4M+35.2% -$150.3M+3.9% -$156.3M-220.1% -$48.8M
Retained Earnings -$140.9M+22.8% -$182.5M-10.0% -$165.9M-4.7% -$158.5M+6.9% -$170.2M+22.9% -$220.6M+13.0% -$253.7M-73.2% -$146.5M

RAIL Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$4.3M-143.0% $10.0M+194.5% $3.4M-60.0% $8.5M-33.3% $12.8M+117.4% $5.9M-17.9% $7.2M-87.5% $57.2M
Capital Expenditures $147K-88.5% $1.3M+9.5% $1.2M+91.4% $608K+84.2% $330K-74.4% $1.3M-11.9% $1.5M+12.2% $1.3M
Free Cash Flow -$4.5M-150.9% $8.8M+290.5% $2.2M-71.6% $7.9M-36.5% $12.5M+171.1% $4.6M-19.5% $5.7M-89.8% $55.9M
Investing Cash Flow -$147K+98.1% -$7.6M-554.9% -$1.2M-4960.9% -$23K+93.0% -$330K+74.4% -$1.3M+11.9% -$1.5M-12.2% -$1.3M
Financing Cash Flow -$7.0M-711.0% -$869K-1.5% -$856K+30.7% -$1.2M+56.3% -$2.8M+43.1% -$5.0M-1891.2% -$250K+99.2% -$30.5M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

RAIL Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 16.8%+3.5pp 13.4%-1.7pp 15.1%+0.1pp 15.0%+0.1pp 14.9%-0.3pp 15.3%+1.0pp 14.3%+1.8pp 12.5%
Operating Margin -0.9%-7.1pp 6.2%-2.9pp 9.1%+2.6pp 6.5%+2.5pp 4.0%-4.4pp 8.5%+0.8pp 7.6%-1.3pp 8.9%
Net Margin 64.8%+78.0pp -13.2%-8.6pp -4.6%-14.5pp 9.8%-42.5pp 52.4%+27.3pp 25.1%+119.7pp -94.5%-100.1pp 5.5%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets 14.5%+20.2pp -5.7%-3.5pp -2.2%-5.7pp 3.6%-16.6pp 20.1%+4.7pp 15.4%+59.0pp -43.5%-47.5pp 4.0%
Current Ratio 1.81-0.1 1.87+0.2 1.66+0.1 1.57-0.0 1.60-0.2 1.79+0.2 1.60-0.3 1.87
Debt-to-Equity -1.50-0.6 -0.91+0.2 -1.15+0.1 -1.26-0.2 -1.08-0.4 -0.70+1.9 -2.57+2.7 -5.24
FCF Margin -6.9%-13.9pp 7.0%+5.6pp 1.4%-5.3pp 6.7%-6.3pp 12.9%+9.6pp 3.3%-1.7pp 5.0%-32.9pp 37.9%

Note: Shareholder equity is negative (-$107.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

Freightcar Amer Inc (RAIL) reported $501.0M in total revenue for fiscal year 2025. This represents a -10.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Freightcar Amer Inc (RAIL) revenue declined by 10.4% year-over-year, from $559.4M to $501.0M in fiscal year 2025.

Yes, Freightcar Amer Inc (RAIL) reported a net income of $38.1M in fiscal year 2025, with a net profit margin of 7.6%.

Freightcar Amer Inc (RAIL) reported diluted earnings per share of $1.09 for fiscal year 2025. This represents a 134.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Freightcar Amer Inc (RAIL) had EBITDA of $40.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Freightcar Amer Inc (RAIL) had $64.3M in cash and equivalents against $97.5M in long-term debt.

Freightcar Amer Inc (RAIL) had a gross margin of 14.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Freightcar Amer Inc (RAIL) had an operating margin of 6.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Freightcar Amer Inc (RAIL) had a net profit margin of 7.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Freightcar Amer Inc (RAIL) generated $31.4M in free cash flow during fiscal year 2025. This represents a -21.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Freightcar Amer Inc (RAIL) generated $34.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Freightcar Amer Inc (RAIL) had $290.0M in total assets as of fiscal year 2025, including both current and long-term assets.

Freightcar Amer Inc (RAIL) invested $3.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Freightcar Amer Inc (RAIL) had 19M shares outstanding as of fiscal year 2025.

Freightcar Amer Inc (RAIL) had a current ratio of 1.87 as of fiscal year 2025, which is generally considered healthy.

Freightcar Amer Inc (RAIL) had a debt-to-equity ratio of -0.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Freightcar Amer Inc (RAIL) had a return on assets of 13.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Freightcar Amer Inc (RAIL) has negative shareholder equity of -$107.4M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

Freightcar Amer Inc (RAIL) has an Altman Z-Score of 1.77, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Freightcar Amer Inc (RAIL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Freightcar Amer Inc (RAIL) has an earnings quality ratio of 0.91x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Freightcar Amer Inc (RAIL) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Freightcar Amer Inc (RAIL) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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