Trinity Industries Inc. (TRN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.34	$1.25	-6.7%	—	$485.1M	—
Q1 26	$0.28	$0.32	+14.3%	—	$492M	—
Q4 25	$2.3	$2.31	+0.4%	—	$611.2M	—
Q3 25	$0.28	$0.19	-32.1%	—	—	—
Q2 25	$0.33	$0.29	-12.1%	—	—	—
Q1 25	$0.35	$0.39	+11.4%	—	—	—
Q4 24	$0.38	$0.43	+13.2%	—	—	—
Q3 24	$0.34	$0.66	+94.1%	—	—	—
Q2 24	$0.22	$0.33	+50.0%	—	—	—
Q1 24	$0.65	$0.82	+26.2%	—	—	—
Q4 23	$0.28	$0.26	-7.1%	—	—	—
Q3 23	$0.32	$0.23	-28.1%	—	—	—
Q2 23	$0.25	$0.07	-72.0%	—	—	—
Q1 23	$0.47	$0.44	-6.4%	—	—	—
Q4 22	$0.32	$0.34	+6.3%	—	—	—
Q3 22	$0.16	$0.14	-12.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.13	—	—	$2.2B	—
FY24	—	$1.69	—	—	$3.1B	—
FY23	—	$1.31	—	—	$3B	—
FY22	—	$0.73	—	—	$2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.1B	$2.4B	$2.5B	$2.8B	$1.7B	$1.5B	$2B	$3B	$3.1B	$2.2B
YoY change	-51.7%	-22.4%	+4.66%	+9.7%	-36.4%	-13.4%	+30.4%	+50.9%	+3.21%	-30%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.1B	2.4B	2.5B	2.8B	1.7B	1.5B	2B	3B	3.1B	2.2B
Cost of revenue	2.3B	1.8B	1.9B	2.2B	1.3B	1.2B	1.6B	2.5B	2.4B	1.6B
Gross profit	777.8M	622.2M	570.3M	574M	422.3M	354.5M	367.7M	527.1M	668.2M	572.7M
Gross margin	25.2%	26%	22.7%	20.9%	24.1%	23.4%	18.6%	17.7%	21.7%	26.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	313.9M	339.3M	296.6M	217M	341.1M	179M	185.4M	201.9M	235.7M	214.3M
Operating expenses	313.9M	339.3M	296.6M	217M	341.1M	179M	185.4M	201.9M	235.7M	214.3M
Operating income	463.9M	282.9M	273.7M	357M	81.2M	175.5M	182.3M	325.2M	432.5M	358.4M
Operating margin	15%	11.8%	10.9%	13%	4.64%	11.6%	9.22%	10.9%	14%	16.6%
Non-operating income, net	22.7M	86.1M	45.3M	38.7M	-394.8M	71.1M	151.8M	89.3M	62.8M	291.2M
Pretax income	310M	195.4M	151.6M	181.2M	-524.6M	55.2M	126.5M	149M	221.8M	375.4M
Income tax	106.8M	-414.8M	42.6M	58.8M	-274.1M	15.9M	27.6M	9M	50.4M	90.9M
Net income	364.7M	713.6M	163.1M	136.1M	-226.2M	181.8M	72.9M	126.6M	157.1M	277.3M
Net margin	11.8%	29.8%	6.5%	4.94%	-12.9%	12%	3.69%	4.24%	5.1%	12.9%
EBITDA	691.9M	523.7M	541.4M	632.4M	337.2M	442.1M	460.3M	615.9M	730.1M	663.9M
EPS	2.25	4.62	1.09	1.09	-1.27	1.79	0.73	1.31	1.69	3.13
Diluted EPS	2.25	4.52	1.07	1.07	-1.27	1.75	0.71	1.27	1.64	3.05

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	821.3M	797.9M	809.6M	841.4M	798.8M	629.4M	585.4M	506.2M	454.1M	611.2M	492M	485.1M
Cost of revenue	679.5M	637M	644.9M	662.4M	629.3M	474.4M	443.2M	372.8M	312.7M	455.5M	363.1M	375.2M
Gross profit	141.8M	160.9M	164.7M	179M	169.5M	155M	142.2M	133.4M	141.4M	155.7M	128.9M	109.9M
Gross margin	17.3%	20.2%	20.3%	21.3%	21.2%	24.6%	24.3%	26.4%	31.1%	25.5%	26.2%	22.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	49.1M	48.6M	52.3M	61.3M	60.5M	61.6M	50M	49.4M	45.2M	69.7M	50.7M	51.1M
Operating expenses	49.1M	48.6M	52.3M	61.3M	60.5M	61.6M	50M	49.4M	45.2M	69.7M	50.7M	51.1M
Operating income	92.7M	112.3M	112.4M	117.7M	109M	93.4M	92.2M	84M	96.2M	86M	78.2M	58.8M
Operating margin	11.3%	14.1%	13.9%	14%	13.6%	14.8%	15.7%	16.6%	21.2%	14.1%	15.9%	12.1%
Non-operating income, net	8.4M	35.9M	-600K	27.6M	14.8M	21M	10.3M	9.7M	21.8M	249.4M	22.3M	139.5M
Pretax income	32.3M	80.5M	42.7M	75.2M	56.4M	47.5M	36.4M	26M	48.2M	264.8M	35.1M	134M
Income tax	6M	7.1M	11M	17.1M	15.6M	6.7M	7.4M	4.1M	11.1M	68.3M	8.5M	31.8M
Net income	23.6M	68.1M	27.4M	56.4M	35.5M	37.8M	27.1M	20M	36M	194.2M	24.8M	98.3M
Net margin	2.87%	8.53%	3.38%	6.7%	4.44%	6.01%	4.63%	3.95%	7.93%	31.8%	5.04%	20.3%
EBITDA	166.7M	185.1M	182.4M	194.9M	183.4M	169.4M	169.2M	157.5M	172.5M	164.7M	150.2M	128.8M
EPS	0.27	0.77	0.29	0.66	0.38	0.35	0.27	0.17	0.38	2.34	0.3	1.23
Diluted EPS	0.26	0.75	0.28	0.65	0.37	0.34	0.26	0.17	0.37	2.28	0.3	1.2

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3B	4B	3B	—	3.1B	—	—	2.2B	2.9B	2.1B	2.2B
Enterprise value	5.2B	6.2B	6.8B	—	7.9B	—	—	7.8B	8.3B	7.4B	7.4B
Shares outstanding	148.4M	148.6M	144M	125.6M	115.9M	101.5M	81.9M	81.2M	81.9M	80.8M	80.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	8.13	5.62	18.2	—	—	—	—	17.1	18.3	7.7	6.59
P/S	0.96	1.67	1.18	—	1.75	—	—	0.72	0.93	0.99	1.09
P/B	0.69	0.82	1.16	—	1.52	—	—	1.69	2.2	1.87	1.94
EV/EBITDA	7.55	11.7	12.6	—	23.6	—	—	12.7	11.4	11.1	12
EV/Sales	1.69	2.57	2.72	—	4.54	—	—	2.62	2.71	3.42	3.63
Earnings yield	12.3%	17.8%	5.5%	—	—	—	—	5.86%	5.46%	13%	15.2%
FCF yield	8.15%	3.28%	-20.5%	—	-1.52%	—	—	-19.2%	-0.76%	-20.4%	-15.2%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	25.2%	26%	22.7%	20.9%	24.1%	23.4%	18.6%	17.7%	21.7%	26.6%	22.7%
Operating margin	15%	11.8%	10.9%	13%	4.64%	11.6%	9.22%	10.9%	14%	16.6%	12.1%
Net margin	11.8%	29.8%	6.5%	4.94%	-12.9%	12%	3.69%	4.24%	5.1%	12.9%	16.6%
ROE	8.46%	14.7%	6.37%	5.72%	-11.2%	14%	5.74%	9.93%	12%	24.2%	30.2%
ROA	4%	7.48%	2.04%	1.56%	-2.6%	2.21%	0.84%	1.42%	1.78%	3.29%	2.34%
ROIC	4.63%	4.04%	3.07%	3.4%	1.18%	1.98%	2.1%	4.41%	4.94%	4.25%	3.86%
Return on tangible assets	4.79%	7.82%	2.15%	1.64%	-2.69%	2.29%	0.87%	1.5%	1.87%	3.47%	4.54%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.65	8.11	2.05	1.81	2.86	1.88	2.29	2.12	2.04	2.12	2.17
Quick ratio	2.5	7.2	1.15	1.01	2.23	1.04	1.14	0.99	1.25	1.3	1.12
Debt / equity	0.71	0.67	1.57	2.05	2.49	3.99	4.42	4.51	4.35	4.75	4.68
Debt / assets	0.33	0.34	0.5	0.56	0.58	0.63	0.64	0.65	0.64	0.65	0.63
Net debt / EBITDA	3.26	4.09	7.11	7.46	14.5	11.3	12	9.17	7.48	7.89	8.23
Interest coverage	2.7	2.06	1.85	1.84	-1.49	1.29	1.61	1.56	1.81	2.37	2.78
Effective tax rate	34.5%	0%	28.1%	32.5%	0%	28.8%	21.8%	6.04%	22.7%	24.2%	24.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	20.8	16.1	17.4	21.9	15.1	14.9	24.1	36.7	37.6	26.7	25.5
EPS (basic)	2.25	4.62	1.09	1.09	-1.27	1.79	0.73	1.31	1.69	3.13	3.13
EPS (diluted)	2.25	4.52	1.07	1.07	-1.27	1.75	0.71	1.27	1.64	3.05	4.23
Book value per share	29.1	32.7	17.8	18.9	17.4	12.8	15.5	15.7	16	14.2	14.3
FCF per share	1.63	0.88	-4.21	-6.5	-0.4	0.4	-12	-5.1	-0.27	-5.39	-4.31
Cash per share	5.38	7.39	1.24	1.32	1.14	1.65	0.97	1.3	2.79	2.49	2.12
Capex per share	0.33	2.48	1.72	1.8	1.48	4.87	9.7	4.95	4.66	9.84	9.06

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.58%	15.4%	9.87%	8.2%	9.8%	32.6%	40.2%	13.5%	12.4%	36.9%	36.2%
Capex / operating cash flow	5.34%	59.5%	131.8%	59.4%	61.8%	77.1%	420.3%	118.5%	61%	221%	190.5%
Payout ratio	18.3%	10.2%	47.5%	60.3%	-40.5%	48.7%	105.5%	67.9%	59.3%	35.6%	28.8%
Dividend yield	2.25%	1.81%	2.61%	—	3%	—	—	3.98%	3.24%	4.62%	4.5%

Yield

4.5%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.31

ex-dividend Jul 15, 2026

Payout ratio

29%

of earnings

Dividend growth

15 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 15, 2026	$0.31
Apr 15, 2026	$0.31
Jan 15, 2026	$0.31

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$821.3M	$797.9M	$809.6M	$841.4M	$798.8M	$629.4M	$585.4M	$506.2M	$454.1M	$611.2M	$492M	$485.1M
YoY change	+65.4%	+35%	+26.2%	+16.5%	-2.74%	-21.1%	-27.7%	-39.8%	-43.2%	-2.89%	-16%	-4.17%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	798.1M	1.1B	179.2M	166.2M	132M	167.3M	79.6M	105.7M	228.2M	201.3M
Receivables	378.7M	204.4M	276.6M	260.1M	164.4M	227.6M	323.5M	363.5M	379.1M	389.1M
Inventory	665.8M	402.8M	524.7M	433.4M	285.2M	432.9M	629.4M	684.3M	476.2M	469.1M
Total current assets	2.1B	3.6B	1.2B	985.8M	1.3B	968.3M	1.3B	1.3B	1.2B	1.2B
Property, plant & equipment	11.5B	11.7B	13.4B	15.2B	15B	15B	15.2B	15.7B	6.6B	6.2B
Goodwill & intangibles	1.5B	417.6M	417.6M	417.6M	294.4M	308.4M	391.8M	443M	443M	443M
Total assets	9.1B	9.5B	8B	8.7B	8.7B	8.2B	8.7B	8.9B	8.8B	8.4B
Accounts payable	156.1M	119.5M	212.1M	203.9M	146.1M	206.4M	287.5M	305.3M	251.7M	269.6M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	582.2M	441.4M	580.4M	546M	456.1M	513.8M	548.5M	607.6M	604.7M	570.8M
Long-term debt	3.1B	3.2B	4B	4.9B	5B	5.2B	5.6B	5.8B	5.7B	5.4B
Total liabilities	4.8B	4.7B	5.4B	6.3B	6.7B	6.9B	7.5B	7.6B	7.5B	7.3B
Shareholders' equity	4.3B	4.9B	2.6B	2.4B	2B	1.3B	1.3B	1.3B	1.3B	1.1B
Total debt	3.1B	3.2B	4B	4.9B	5B	5.2B	5.6B	5.8B	5.7B	5.4B
Net debt	2.5B	2.5B	3.9B	4.7B	4.9B	5B	5.5B	5.6B	5.5B	5.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	114M	105.7M	118.8M	257.1M	222.4M	228.2M	94.9M	147.7M	66.3M	201.3M	132.6M	155.7M
Receivables	392.8M	363.5M	484M	397.5M	413.8M	379.1M	368.9M	323.9M	311.7M	389.1M	326.1M	339.2M
Inventory	679.4M	684.3M	643.1M	616.9M	549.1M	476.2M	449.7M	459.7M	554.6M	469.1M	483.2M	533.6M
Total current assets	1.3B	1.3B	1.4B	1.4B	1.3B	1.2B	1.1B	1.1B	1.1B	1.2B	1.1B	1.1B
Property, plant & equipment	15.6B	15.7B	15.8B	6.6B	6.5B	6.6B	6.6B	6.7B	6.8B	6.2B	6.2B	5.9B
Goodwill & intangibles	445.4M	443M	443M	443M	443M	443M	443M	443M	443M	443M	443M	443M
Total assets	9B	8.9B	9.1B	9B	8.8B	8.8B	8.7B	8.8B	8.9B	8.4B	8.3B	8.2B
Accounts payable	325.8M	305.3M	335.9M	315.4M	270.2M	251.7M	255.4M	219.5M	253.1M	269.6M	272.9M	276.5M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	653.8M	607.6M	664.2M	669.3M	596M	604.7M	537.3M	486.5M	511.5M	570.8M	520.1M	548.7M
Long-term debt	5.8B	5.8B	5.9B	5.7B	5.7B	5.7B	5.6B	5.9B	5.9B	5.4B	5.4B	5.2B
Total liabilities	7.7B	7.6B	7.8B	7.7B	7.5B	7.5B	7.4B	7.6B	7.7B	7.3B	7.2B	7.1B
Shareholders' equity	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.1B	1.1B	1.1B
Total debt	5.8B	5.8B	5.9B	5.7B	5.7B	5.7B	5.6B	5.9B	5.9B	5.4B	5.4B	5.2B
Net debt	5.7B	5.6B	5.7B	5.5B	5.5B	5.5B	5.5B	5.7B	5.9B	5.2B	5.2B	5.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	364.7M	713.6M	163.1M	122.4M	-250.5M	170.7M	93.2M	140M	171.4M	284.5M
Depreciation & amortization	217.3M	229.7M	251.9M	276.5M	258.5M	265.7M	276.4M	293.2M	293.8M	305.1M
Stock-based compensation	30.9M	22.1M	29.2M	27.8M	25.4M	20.7M	22.5M	22.7M	23.6M	22.9M
Change in working capital	134.6M	83.7M	-270.2M	-122.8M	-13.8M	299.9M	-223.8M	-73.8M	145.9M	-13.8M
Operating cash flow	912.5M	619.2M	187.9M	379.8M	277.2M	641.5M	189.1M	339.1M	625M	359.7M
Capital expenditure	48.7M	368.5M	247.6M	225.7M	171.4M	494.8M	794.7M	401.7M	381.3M	-794.9M
Investing cash flow	55.5M	321.3M	253.8M	225.7M	171.4M	487.8M	708.8M	347.1M	381.1M	-800.3M
Dividends paid	-66.7M	-72.6M	-77.4M	-82.1M	-91.7M	-88.5M	-76.9M	-86M	-93.2M	-98.7M
Share repurchases	-51M	-93.8M	-518.3M	-232.9M	-200.8M	-842.7M	-57.5M	-7.2M	-29.7M	-80M
Financing cash flow	-307.7M	-56.7M	-291.1M	526.5M	-168M	-814.1M	265.4M	8.2M	-219.9M	-24.9M
Net change in cash	660.3M	883.8M	150.6M	1.1B	280.6M	315.2M	1.2B	694.4M	786.2M	-465.5M
Free cash flow	241.6M	131.3M	-606.5M	-816.6M	-46.4M	41M	-979.6M	-414.5M	-21.9M	-435.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	23.6M	81.5M	27.4M	56.4M	29.5M	52.1M	27.1M	23.8M	32.2M	201.4M	24.8M	104M
Depreciation & amortization	73.1M	73.3M	73.4M	73.8M	73M	73.6M	74.3M	75.2M	76.9M	78.7M	72.6M	71.5M
Stock-based compensation	6.1M	3.9M	4.7M	5.9M	6.7M	6.3M	5.3M	5.4M	5.9M	6.3M	4.9M	5.5M
Change in working capital	-31.5M	1.9M	-50.8M	99.2M	1.2M	96.3M	41.6M	-23.2M	-65M	32.8M	57.7M	-39.1M
Operating cash flow	56.8M	135.5M	60.8M	243.3M	118M	202.9M	147.1M	61.6M	44.2M	177.4M	97.8M	68.9M
Capital expenditure	64.7M	142.9M	28.1M	166.6M	74.5M	112.1M	37.8M	-184.2M	-243.5M	-237.8M	-157.3M	-101M
Investing cash flow	68M	150.7M	28.1M	164.6M	72.9M	113.8M	37.8M	-184.2M	-238.8M	-231.1M	-157.3M	-101M
Dividends paid	-21.4M	-21.3M	-23M	-24.2M	-22.9M	-23.1M	-24.6M	-25.8M	-24.2M	-24.1M	-24.8M	-25.7M
Share repurchases	-100K	-300K	-300K	-9.7M	-5.6M	-14.1M	-8.5M	-38.7M	-20.1M	-12.7M	-7.4M	-22.2M
Financing cash flow	-78.5M	-72.8M	71.8M	-180.5M	-61M	-50.2M	-124.2M	169.1M	35.5M	-105.3M	-98.6M	-489.1M
Net change in cash	46.3M	213.4M	160.7M	227.4M	129.9M	266.5M	60.7M	46.5M	-159.1M	-159M	-158.1M	-521.2M
Free cash flow	-19.4M	-109.5M	-99.9M	145M	-45.4M	-21.6M	-52.9M	-122.6M	-199.3M	-60.4M	-59.5M	-32.1M

Date	Ratio
Nov 1, 2018	1389:1000
Jun 20, 2014	2:1
Jun 12, 2006	3:2
Apr 1, 1997	10000:8181
Sep 1, 1993	3:2
Oct 31, 1980	2:1
Nov 1, 1979	2:1
Apr 30, 1976	2:1

Trinity Industries Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history