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The Greenbrier Companies, Inc. designs, manufactures, and markets railroad freight car equipment in North America, Europe, and South America. It operates through Manufacturing, and Leasing & Management Services. The Manufacturing segment offers covered hopper cars, gondolas, open top hoppers, boxcars, center partition cars, tank cars, sustainable conversions, intermodal railcars, and railcar equipment; reconditioning of wheels and axles, new axle machining and finishing, and downsizing; operates a railcar maintenance network; and reconditions and manufactures railcar cushioning units, couplers, yokes, side frames, bolsters, and various other parts. The Leasing & Management Services segment offers operating leases and per diem leases for a fleet of approximately 17,000 railcars; and management services comprising railcar maintenance management, railcar accounting services, fleet management and logistics, administration, and railcar re-marketing. This segment provides management services for railroads, shippers, carriers, institutional investors, and other leasing and transportation companies. It serves railroads, leasing companies, financial institutions, shippers, carriers, and transportation companies. The company was founded in 1974 and is headquartered in Lake Oswego, Oregon.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.2B | $485M | $204M | $-15M | 13.3% | -8.6% | 27.5% |
| 2024 | $3.5B | $433M | $160M | $-69M | 11.6% | -10.1% | 156.2% |
| 2023 | $3.9B | $277M | $63M | $-291M | 5.0% | 32.5% | 33.3% |
| 2022 | $3.0B | $218M | $47M | $-531M | 3.7% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,977.70 | 3,944 | 3,544.70 | 3,240.20 |
| Operating Revenue | - | 2,977.70 | 3,944 | 3,544.70 | 3,240.20 |
| Cost Of Revenue | - | 2,671.70 | 3,502.90 | 2,986.20 | 2,632.70 |
| Gross Profit | - | 306 | 441.10 | 558.50 | 607.50 |
| Operating Expense | - | 225.20 | 235.30 | 247.10 | 263.30 |
| Selling General And Administration | - | 225.20 | 235.30 | 247.10 | 263.30 |
| Total Expenses | - | 2,896.90 | 3,738.20 | 3,233.30 | 2,896 |
| Operating Income | - | 80.80 | 205.80 | 311.40 | 344.20 |
| Total Operating Income As Reported | - | 118 | 176.40 | 324.50 | 360.10 |
| EBITDA | - | 218.30 | 276.50 | 433.20 | 485.20 |
| Normalized EBITDA | - | 182.80 | 312.10 | 427 | 465.70 |
| EBIT | - | 116.30 | 170.20 | 317.60 | 363.70 |
| Interest Expense | - | 55.70 | 79.20 | 93.90 | 79.30 |
| Net Interest Income | - | -55.70 | -79.20 | -93.90 | -79.30 |
| Other Income Expense | - | 35.50 | -35.60 | 6.20 | 19.50 |
| Interest Expense Non Operating | - | 55.70 | 79.20 | 93.90 | 79.30 |
| Net Non Operating Interest Income Expense | - | -55.70 | -79.20 | -93.90 | -79.30 |
| Pretax Income | - | 60.60 | 91 | 223.70 | 284.40 |
| Tax Provision | - | 18.10 | 24.60 | 62 | 91.40 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 10.61 | -9.61 | 1.72 | 6.26 |
| Net Income Continuous Operations | - | 53.80 | 75.60 | 172.70 | 213.10 |
| Net Income From Continuing And Discontinued Operation | - | 46.90 | 62.50 | 160.10 | 204.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 46.90 | 62.50 | 160.10 | 204.10 |
| Net Income | - | 46.90 | 62.50 | 160.10 | 204.10 |
| Net Income Common Stockholders | - | 46.90 | 62.50 | 160.10 | 204.10 |
| Net Income Including Noncontrolling Interests | - | 53.80 | 75.60 | 172.70 | 213.10 |
| Normalized Income | - | 22.01 | 88.49 | 155.62 | 190.86 |
| Diluted NI Availto Com Stockholders | - | 46.90 | 63.70 | 160.60 | 204.10 |
| Basic Average Shares | - | 32.57 | 31.98 | 31.10 | 31.17 |
| Diluted Average Shares | - | 33.63 | 33.80 | 32.36 | 32.14 |
| Reconciled Depreciation | - | 102 | 106.30 | 115.60 | 121.50 |
| Reconciled Cost Of Revenue | - | 2,671.70 | 3,502.90 | 2,986.20 | 2,632.70 |
| Total Unusual Items | - | 35.50 | -35.60 | 6.20 | 19.50 |
| Total Unusual Items Excluding Goodwill | - | 35.50 | -35.60 | 6.20 | 19.50 |
| Minority Interests | - | -6.90 | -13.10 | -12.60 | -9 |
| Earnings From Equity Interest Net Of Tax | - | 11.30 | 9.20 | 11 | 20.10 |
| Special Income Charges | - | 37.20 | -29.40 | 13.10 | 15.90 |
| Other Special Charges | 6.30 | - | - | - | - |
| Impairment Of Capital Assets | - | 0 | 46.70 | 0 | 0 |
| Gain On Sale Of Security | - | -1.70 | -6.20 | -6.90 | 3.60 |
| Gain On Sale Of Ppe | - | 37.20 | 17.30 | 13.10 | 15.90 |
| Rent Expense Supplemental | - | 48.80 | 55.50 | 73.20 | 76.10 |
| Average Dilution Earnings | - | - | 1.20 | 0.50 | 0 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Greenbrier Companies, Inc.this co. | GBX | $1.4B | 7.10↓ discount | 0.95 | 13.3% | 6.14 |
| Willdan Group, Inc. | WLDN | $1.5B | 28.15 | 4.85 | 17.2% | 23.01 |
| BlackSky Technology Inc. | BKSY | $1.5B | -20.95 | 15.51 | -74.1% | -67.62 |
| Ryerson Holding Corporation | RYZ | $1.5B | -26.03 | 1.95 | -7.5% | 47.61 |
| SFL Corporation Ltd. | SFL |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.5B |
| -55.15 |
| 1.52 |
| -2.8% |
| 10.04 |
| TETRA Technologies, Inc. | TTI | $1.5B | 483.12 | 5.12 | 1.1% | 19.83 |
| Marten Transport, Ltd. | MRTN | $1.4B | 83.09 | 1.89 | 2.3% | 12.10 |
| Tennant Company | TNC | $1.4B | 32.96 | 2.40 | 7.3% | 13.28 |
| Hillman Solutions Corp. | HLMN | $1.4B | 35.39 | 1.16 | 3.3% | 8.51 |
| Peer Median | - | 30.55 | 2.17 | 1.7% | 12.69 | |