The Greenbrier Companies, Inc.
- Open
- 50.47
- Day high
- 50.47
- Day low
- 49.08
- Prev close
- 49.56
- Volume
- 22K
- Mkt cap
- $1.5B
- P/E (TTM)
- 14.3
- EPS (TTM)
- $3.49
- P/B
- 1.0
- P/S
- 0.6
- Yield
- 2.66%
- Per share
- $1.32
- ▼Insiders net selling -$193K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
The Greenbrier Companies, Inc. (GBX) is a Industrials company listed on NYSE. The stock is up 3% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
The Greenbrier Companies, Inc. (GBX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GBX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 1, 2026 | $0.57 | $0.60 | +5.3% | $577M | -5.9% |
| Apr 7, 2026 | $0.82 | $0.47 | -42.9% | $588M | -11.5% |
| Jan 8, 2026 | $0.84 | $1.14 | +35.7% | $706M | +7.5% |
| Jul 1, 2025 | $0.86 | $1.86 | +116.3% | $843M | +7.3% |
| Apr 7, 2025 | $1.78 | $1.69 | -5.1% | $762M | -13.9% |
| Jan 8, 2025 | $1.16 | $1.72 | +48.3% | $876M | -0.1% |
| Oct 23, 2024 | $1.32 | $1.92 | +45.5% | $1.1B | +0.2% |
| Jul 8, 2024 | $1.14 | $1.06 | -7.0% | $819M | -19.3% |
| Apr 5, 2024 | $0.86 | $1.03 | +19.8% | $861M | +2.1% |
| Jan 5, 2024 | $0.73 | $0.96 | +31.5% | $809M | -4.8% |
| Oct 25, 2023 | $1.00 | $0.92 | -8.0% | $1.0B | +2.7% |
| Apr 10, 2023 | $0.61 | $0.99 | +62.3% | $1.1B | +26.9% |
GBX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 15, 2026 | Glenn Williamofficer: SVP & President, Europe | Sell | 4,000 | $48.15 |
| Jun 18, 2026 | Donfris Michael Jofficer: SVP, CFO | Tax | 351 | $49.33 |
| Feb 2, 2026 | Krueger William J.officer: SVP, COO, The Americas | Sell | 6,000 | $50.00 |
| Jan 9, 2026 | Felton Wanda Fdirector | Grant | 693 | — |
| Jan 9, 2026 | Felton Wanda Fdirector | Option | 506 | — |
| Jan 9, 2026 | Songer Jeffrey Mdirector | Grant | 3,465 | — |
| Jan 9, 2026 | Williams Kelly Mariedirector | Grant | 3,465 | — |
| Jan 9, 2026 | Garza Antonio Odirector | Grant | 3,465 | — |
| Jan 9, 2026 | Huffines James Rdirector | Option | 2,528 | — |
| Jan 9, 2026 | FARGO THOMAS Bdirector | Grant | 3,465 | — |
| Jan 9, 2026 | Felton Wanda Fdirector | Option | 2,528 | — |
| Jan 9, 2026 | Felton Wanda Fdirector | Option | 2,022 | — |
| Jan 9, 2026 | Jack Graemedirector | Option | 2,528 | — |
| Jan 9, 2026 | Felton Wanda Fdirector | Grant | 2,772 | — |
| Jan 9, 2026 | Jack Graemedirector | Grant | 3,465 | — |
Source: GBX SEC Form 4 filings, latest Jul 15, 2026. For informational purposes only — not investment advice.
See the full GBX insider & 13F page →The Greenbrier Companies, Inc. company profile
Overview
The Greenbrier Companies, Inc. (NYSE:GBX) is a leading North American manufacturer and lessor of railroad freight cars, founded in 1974 and headquartered in Lake Oswego, Oregon. The company went public in 1994 and has grown to become one of the largest railcar manufacturers globally, with operations spanning North America, Europe, and South America. Greenbrier operates through three main business segments: Manufacturing, Wheels/Repair & Parts, and Leasing & Services, serving railroads, leasing companies, and freight shippers across diverse industries.
Business
Greenbrier operates in the railroad equipment industry, which is fundamentally tied to freight transportation across North America and internationally. The railroad freight car industry serves as critical infrastructure for moving bulk commodities, manufactured goods, automobiles, and chemicals across vast distances more efficiently than trucking for long-haul transport. The company's Manufacturing segment represents approximately 70-80% of total revenues and produces various types of railroad freight cars. These include covered hopper cars (used for grain, sand, and other bulk materials), boxcars (for general freight), tank cars (for liquids and chemicals), intermodal cars (for shipping containers), and specialized auto-transport cars. The manufacturing process involves heavy steel fabrication, welding, and assembly at facilities in Oregon, Texas, Mexico, Poland, Romania, and Brazil. The Wheels, Repair & Parts segment provides maintenance and refurbishment services for existing railcar fleets. This includes reconditioning wheels and axles, manufacturing replacement parts like couplers and bolsters, and operating repair facilities. This segment generates steady recurring revenue as railcars require regular maintenance throughout their 30-40 year operational lives. The Leasing & Services segment owns and leases approximately 8,800 railcars directly while providing management services for a fleet of roughly 444,000 railcars owned by institutional investors, railroads, and other leasing companies. This segment generates predictable recurring revenue through operating leases and per-diem arrangements, representing the company's fastest-growing business line with recurring revenues reaching $157 million annually.
Revenue model
Greenbrier generates revenue through three distinct business models. The Manufacturing segment operates on a product sales model, building railcars to customer specifications with typical contracts ranging from $100,000 to $200,000 per car. Customers include major railroads like BNSF and Union Pacific, leasing companies, and large shippers who need dedicated equipment. Manufacturing margins are influenced by steel prices (the primary raw material), labor costs, production efficiency, and product mix, with specialized cars like auto-transporters commanding higher margins than commodity cars. The Leasing segment operates on a recurring revenue model through operating leases, typically lasting 5-15 years with built-in rent escalations. The company earns steady monthly lease payments while retaining ownership of the assets. Lease rates have been increasing 20-25% on renewals due to tight railcar supply and strong demand. This segment benefits from high fleet utilization rates (consistently near 99%) and provides portfolio diversification away from the cyclical manufacturing business. The Wheels, Repair & Parts segment combines service fees for maintenance work with parts sales. Revenue is driven by the size of the North American railcar fleet (approximately 1.6 million cars) and regulatory requirements for periodic maintenance and safety inspections. Key factors affecting profitability include steel commodity prices, railroad traffic volumes, railcar utilization rates, and the age profile of the existing fleet driving replacement demand. The company benefits from industry consolidation, disciplined competitor behavior, and the capital-intensive nature of railcar manufacturing that limits new entrants. Economic downturns reduce freight volumes and new car orders, while infrastructure spending and industrial production growth drive demand.
Competitive moat
Greenbrier possesses a moderate economic moat built primarily on manufacturing scale, customer relationships, and capital intensity barriers. The company is one of only a few large-scale railcar manufacturers in North America, benefiting from economies of scale in steel procurement, manufacturing efficiency, and R&D capabilities. The railcar manufacturing industry requires substantial upfront capital investment in specialized facilities and equipment, creating barriers to entry for potential competitors. The company's established relationships with major railroads and leasing companies provide some competitive protection, as these customers value reliable delivery schedules and proven quality. Greenbrier's integrated business model, combining manufacturing with leasing and services, creates customer stickiness and provides multiple touchpoints throughout the railcar lifecycle. However, the moat faces several challenges. The industry is cyclical and dependent on broader economic conditions affecting freight transportation. Customers have some bargaining power due to the large order sizes and can switch between the limited number of qualified manufacturers. Competition comes from other established players like Trinity Industries and Freight Car America (now owned by The Greenbrier Companies), as well as international manufacturers in some markets. The leasing business provides the strongest moat characteristics with its recurring revenue base, long-term contracts, and high switching costs for customers. Fleet utilization rates near 99% indicate strong demand for the company's leased assets, though this segment remains smaller than manufacturing in terms of overall revenue contribution.
Risks & safety
Greenbrier demonstrates moderate financial safety with adequate liquidity but elevated leverage ratios typical of capital-intensive businesses. • Liquidity and Cash Position: Strong cash position of $264 million with total liquidity of approximately $549 million including credit facilities. Current ratio of 1.64 indicates adequate short-term liquidity coverage. • Debt and Leverage: Debt-to-equity ratio of 1.27 reflects significant leverage, though manageable for the industry. The company maintains both recourse corporate debt and non-recourse debt secured by leased railcar assets. • Cash Flow Generation: Operating cash flow of $94 million in recent quarter with free cash flow of $26 million after capital expenditures. The leasing segment provides steady cash generation while manufacturing can be more volatile. • Valuation Metrics: Trading at P/E ratio of 8.5x and EV/EBITDA of 7.2x, suggesting reasonable valuation relative to earnings. Price-to-book ratio of 1.21x indicates modest premium to book value. • Other Considerations: Substantial order backlog of $2.6 billion provides revenue visibility. Dividend yield supported by growing recurring revenue base from leasing operations.
Recent development
Over the past several years, Greenbrier has executed a "Better Together" strategic transformation focused on three key pillars: maintaining manufacturing leadership, improving manufacturing margins, and doubling recurring revenue from leasing operations. The company has successfully increased manufacturing gross margins from single digits to the mid-teens through operational efficiency initiatives, supply chain optimization, and insourcing of component fabrication expected to generate $50-55 million in annual savings. A significant strategic shift has been the aggressive expansion of the leasing business, with the lease fleet growing from approximately 8,000 to 8,800 units while recurring revenue increased 39% over two years to $157 million annually. The company acquired full ownership of GBX Leasing and has been investing approximately $265-395 million annually in fleet expansion, targeting institutional investors through syndication programs. Greenbrier has also rationalized its global manufacturing footprint, selling non-core assets including Gunderson Marine and a Texas foundry while consolidating European operations by closing a facility in Romania. The company launched innovative products including ultra-high strength steel gondolas and Multi-Max Plus automobile transport cars, maintaining its technological leadership position. Recent operational improvements include organizational restructuring to combine manufacturing and maintenance services, workforce development programs that supported a 35% increase in global headcount, and enhanced safety performance with recordable injury rates declining 16%. The company has maintained pricing discipline in a competitive market while building a substantial backlog of 20,400 units valued at $2.6 billion.
GBX company profile · for informational purposes only — not investment advice.
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