CSX Corp (CSX) is overvalued and Westinghouse Air Brake Technologies Corp (WAB) is overvalued.
Both trade above our estimate of their intrinsic value. WAB is the closer of the two: -45%, against -94% for CSX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.3% (average of 3 methods) values the shares at $24.06; the price of $46.59 is 94% above that value, and 71% of that value comes from beyond year five.
Leak Score 31/100 on 10 of 12 signals
Discounting its cash flows at 9.6% (average of 3 methods) values the shares at $199.51; the price of $289.71 is 45% above that value, and 74% of that value comes from beyond year five.
Leak Score 55/100 on 10 of 12 signals
| Metric | CSX | WAB |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $46.59 | $289.71 |
| Intrinsic value | $24.06 | $199.51 |
| Margin of safety | -94% | -45% |
| Leak Score | 31/100 (10/12) | 55/100 (10/12) |
| Market cap | $86.3B | $48.9B |
| Revenue growth, 5 years | 5.9% | 8.1% |
| Operating margin | 35.3% | 16.7% |
| Net margin | 22.2% | 10.6% |
| Return on equity | 24.4% | 11.5% |
| Debt to equity | 1.37 | 0.62 |
| P/E | 26.9x | 39.0x |
| Forward P/E | 20.5x | 23.3x |
| P/B | 6.1x | 4.4x |
| Dividend yield | 1.2% | 0.4% |