GREENBRIER COMPANIES INC

Listed Company

GBXCIK 0000923120NYSELarge AcceleratedRailroad EquipmentOregonFY ends Aug 31

Period

FY 2025

Revenue

$3.24B

Net Income

$204.10M

Total Assets

$4.36B

Equity

$1.53B

Shares Out

30.94M

Op. Cash Flow

$265.70M

Business

GREENBRIER COMPANIES INC designs, manufactures and markets freight railcars and provides related services to global freight transportation markets. It offers a range of railcar products (covered hoppers, gondolas, boxcars, flat cars), tank cars, intermodal and automotive railcars, sustainable conversions, component parts, wheel services and railcar maintenance, plus leasing and software-enabled fleet management and regulatory compliance services. The company operates through two reportable segments: Manufacturing and Leasing & Fleet Management, and participates in unconsolidated joint ventures for axle and Brazilian railcar operations. Its markets and distribution channels span North America, Europe and Brazil through manufacturing operations, leasing, maintenance networks, management services and joint-venture partners.

Summary from filing dated 2025-10-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Revenue	3,240	3,545	3,944	2,978	1,748
Cost of revenue	2,633	2,986	3,503	2,672	1,516
Margin	608	559	441	306	232
Selling and administrative	263	247	235	225	192
Net gain on disposition of equipment	−16	−13	−17	−37	−1
Asset impairment, disposal, and exit costs, net	—	—	47	—	—
Earnings from operations	360	325	176	118	41
Interest and foreign exchange	76	101	85	57	43
Earnings before income tax and earnings from unconsolidated affiliates	284	224	91	61	−9
Income tax expense	−91	−62	−25	−18	40
Earnings before earnings from unconsolidated affiliates	193	162	66	43	32
Earnings from unconsolidated affiliates	20	11	9	11	4
Net earnings	213	173	76	54	35
Net earnings attributable to noncontrolling interest	−9	−13	−13	−7	−3
Net earnings attributable to Greenbrier	204	160	63	47	32
Basic earnings per common share	6.55	5.15	1.95	1.44	0.99
Diluted earnings per common share	6.35	4.96	1.89	1.4	0.96
Basic	31	31	32	33	33
Diluted	32	32	34	34	34

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Cash and cash equivalents	306	352	282	543	647
Restricted cash	20	17	21	16	25
Accounts receivable, net	526	524	530	501	306
Income tax receivable	45	45	42	40	112
Inventories	688	771	824	815	574
Leased railcars for syndication	226	131	187	111	52
Equipment on operating leases, net	1,329	1,244	1,000	771	610
Property, plant and equipment, net	727	712	619	645	670
Investment in unconsolidated affiliates	99	87	89	93	80
Intangibles and other assets, net	264	244	256	189	184
Goodwill	130	129	129	127	132
Total assets	4,361	4,255	3,978	3,852	3,391
Accounts payable and accrued liabilities	652	731	744	725	570
Debt, net	1,751	1,756	—	—	—
Deferred income taxes	180	130	114	69	73
Deferred revenue	44	59	46	35	43
Commitments and contingencies (Notes 19 & 20)	—	—	—	—	—
Contingently redeemable noncontrolling interest	36	42	56	28	30
Preferred stock - without par value; 25,000 shares authorized; none outstanding	—	—	—	—	—
Common stock - without par value; 50,000 shares authorized; 30,873 and 31,135 outstanding at August 31, 2025 and 2024	—	—	—	—	—
Additional paid-in capital	365	375	364	425	470
Retained earnings	1,199	1,035	898	898	882
Accumulated other comprehensive loss	−31	−34	−7	−46	−44
Total equity - Greenbrier	1,533	1,376	1,255	1,277	1,308
Noncontrolling interest	165	161	156	152	169
Total equity	1,698	1,537	1,410	1,429	1,476
Liabilities and Equity	4,361	4,255	3,978	3,852	3,391

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-08-31	FY 2024 2024-08-31	FY 2023 2023-08-31	FY 2022 2022-08-31	FY 2021 2021-08-31
Deferred income taxes	42	17	7	13	51
Depreciation and amortization	122	116	106	102	101
Stock based compensation expense	18	17	12	16	15
Noncontrolling interest adjustments	8	4	8	2	2
Other	3	4	4	4	2
Accounts receivable, net	−5	9	−15	−198	−82
Income tax receivable	200,000	−3	−2	72	−103
Inventories	62	50	−17	−268	−167
Leased railcars for syndication	−108	−5	−124	−41	−12
Other assets	30	25	−42	−28	−6
Accounts payable and accrued liabilities	−67	−64	16	165	110
Deferred revenue	−16	12	22	−6	400,000
Net cash provided by operating activities	266	330	71	−150	−41
Proceeds from sales of assets	77	75	79	156	16
Capital expenditures	−280	−398	−362	−381	−139
Other	—	3	3	—	—
Net cash used in investing activities	−203	−320	−280	−224	−118
Net changes in debt with maturities of 90 days or less	24	−28	30	−101	197
Proceeds from debt with maturities longer than 90 days	97	407	295	35	112
Repayments of debt with maturities longer than 90 days	−131	−236	−292	—	−287
Debt issuance costs	−6	−3	−600,000	−7	−22
Repurchase of stock, including excise tax	−23	−1	−57	—	−20
Dividends	−40	−38	−36	−36	−36
Cash distribution to joint venture partner	−18	−9	−13	−17	−25
Tax payments for net share settlement of restricted stock	−6	−5	−3	−4	−3
Net cash provided by (used in) financing activities	−102	86	−76	245	−23
Effect of exchange rate changes	−3	−30	29	17	10
Increase (decrease) in cash and cash equivalents and restricted cash	−42	66	−256	−112	−171
Interest	82	86	70	45	28
Income taxes, net	48	43	23	−55	11
Transfer from Leased railcars for syndication and Inventories to Equipment on operating leases, net	43	67	40	−12	189
Capital expenditures accrued in Accounts payable and accrued liabilities	10	61	22	11	5
Change in Accounts payable and accrued liabilities associated with dividends declared	−500,000	−400,000	−300,000	—	−23,000
Change in Accounts payable and accrued liabilities associated with repurchase of stock	400,000	—	−500,000	—	—
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner	0	—	2	1	600,000

Filings

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