The filing content provided is almost entirely cover page material, the table of contents, the forward-looking statements boilerplate, and a brief business introduction. Let me assess the substantive disclosure content. The substantive content includes: the business description paragraphs (international supplier of equipment/services, design/build/market freight railcars in North America/Europe/Brazil, wheel services, component parts, maintenance, lease fleet, railcar management, leasing services; integrated business model; segment measurement change effective September 1, 2025). That constitutes meaningful substantive disclosure exceeding 150 words.

The Greenbrier Companies, Inc. filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission on October 26, 2026, covering the fiscal year ended August 31, 2026.

Key Highlights

  • Large accelerated filer status: The company is classified as a large accelerated filer, according to the filing.
  • Market capitalization of non-affiliate shares: The aggregate market value of common stock held by non-affiliates was $1,703,351,082 as of February 27, 2026, based on the closing price on that date.
  • Shares outstanding: As of October 20, 2026, there were 30,998,599 shares of common stock outstanding, without par value.
  • Segment reporting change: Effective September 1, 2025, the company changed its measurement basis for allocating revenue and expenses associated with syndication activity between the Manufacturing and Leasing & Fleet Management reportable segments, with prior period results recast to conform to current presentation.
  • Geographic operations: The company reports designing, building, and marketing freight railcars in North America, Europe, and Brazil through wholly-owned subsidiaries and consolidated and unconsolidated joint ventures.
  • Annual shareholder meeting: The company's Annual Meeting of Shareholders is scheduled for January 6, 2027, with portions of the definitive Proxy Statement incorporated by reference into Part III of the report.

Greenbrier's Fiscal 2026 Annual Disclosure: Business Model, Segment Change, and Financial Profile

The Greenbrier Companies, Inc. (NYSE:GBX), headquartered at One Centerpointe Drive, Suite 200, Lake Oswego, Oregon, describes itself in the filing as "a leading international supplier of equipment and services to global freight transportation markets." The company reports operating through wholly-owned subsidiaries and consolidated and unconsolidated joint ventures, designing, building, and marketing freight railcars in North America, Europe, and Brazil. It also identifies itself as "a leading provider of freight railcar wheel services, component parts, maintenance and sustainable conversion services in North America."

According to the filing, the company operates what it describes as "an integrated business model that combines freight car manufacturing, wheel services, railcar maintenance, component parts, leasing and fleet management services." The company states this model is "designed to provide customers with a comprehensive set of freight car product and service solutions" using its engineering, mechanical, and technical capabilities. The company also states it "believe[s] our integrated model is difficult to duplicate and provides greater value for our customers and investors."

A notable operational disclosure in the filing is a segment reporting change. Effective September 1, 2025, the company changed its measurement basis for allocating revenue and expenses associated with syndication activity between the Manufacturing and Leasing & Fleet Management reportable segments. The filing states this change "reflects the information currently provided to our chief operating decision maker (CODM) to assess performance and allocate resources" and "had no impact on our consolidated results of operations or financial position." Prior period segment results were recast to conform to the current period presentation. The filing references Note 16 - Segment Information to the Consolidated Financial Statements for further detail.

What Was Disclosed

Greenbrier filed its Form 10-K for the fiscal year ended August 31, 2026, reporting 30,998,599 shares outstanding as of October 20, 2026, a non-affiliate market value of $1,703,351,082 as of February 27, 2026, and a segment reporting methodology change effective September 1, 2025.