Trinity Industri Financials
Trinity Industri (TRN) reported $2.2B in revenue for fiscal year 2025, down 30.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 shows profit expansion from richer economics on a heavily leveraged asset base, even as revenue contracted.
In the latest year, operating margin jumped from16.0% to30.1% even though sales contracted, which suggests a richer mix or gain-driven year rather than more units moving through the business. The second clue is the spread between ROA at3.3% and ROE at25.7% : equity returns are being amplified by leverage, not by unusually high asset productivity alone.
With capital spending of just
Even after the profit rebound, liabilities still sit near
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Trinity Industri's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Trinity Industri has an operating margin of 30.1%, meaning the company retains $30 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is up from 16.0% the prior year.
Trinity Industri's revenue declined 30.0% year-over-year, from $3.1B to $2.2B. This contraction results in a growth score of 7/100.
Trinity Industri has elevated debt relative to equity (D/E of 6.76), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 8/100, reflecting increased financial risk.
Not available for Trinity Industri, and counted as zero in the overall score.
Trinity Industri converts 14.6% of revenue into free cash flow ($314.1M). This strong cash generation earns a score of 77/100.
Not available for Trinity Industri, and counted as zero in the overall score.
Trinity Industri passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Trinity Industri generates $1.30 in operating cash flow ($359.7M OCF vs $277.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Trinity Industri generated $2.2B in revenue in fiscal year 2025. This represents a decrease of 30.0% from the prior year.
Trinity Industri's EBITDA was $954.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.5% from the prior year.
Trinity Industri reported $277.3M in net income in fiscal year 2025. This represents an increase of 76.5% from the prior year.
Trinity Industri earned $3.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 86.0% from the prior year.
Cash & Balance Sheet
Trinity Industri generated $314.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 39.6% from the prior year.
Trinity Industri held $201.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Trinity Industri paid $1.21 per share in dividends in fiscal year 2025. This represents an increase of 6.1% from the prior year.
Margins & Returns
Trinity Industri's gross margin was 26.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.9 percentage points from the prior year.
Trinity Industri's operating margin was 30.1% in fiscal year 2025, reflecting core business profitability. This is up 14.1 percentage points from the prior year.
Trinity Industri's net profit margin was 12.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.8 percentage points from the prior year.
Trinity Industri's ROE was 25.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 10.9 percentage points from the prior year.
Capital Allocation
Trinity Industri spent $71.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 244.4% from the prior year.
Trinity Industri invested $45.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 15.2% from the prior year.
Not reported for fiscal year 2025.
TRN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B-30.0% | $3.1B+3.2% | $3.0B+50.9% | $2.0B+30.4% | $1.5B-13.4% | $1.7B-36.4% | $2.8B+9.7% | $2.5B+4.7% | $2.4B-22.4% | $3.1B-51.7% | $6.4B+3.6% | $6.2B+41.3% | $4.4B+14.5% | $3.8B+29.7% | $2.9B |
| Cost of Revenue | $1.5B | $1.6B-34.3% | $2.4B-1.8% | $2.5B+52.6% | $1.6B+38.6% | $1.2B-12.5% | $1.3B-39.1% | $2.2B+12.4% | $1.9B+9.2% | $1.8B-23.2% | $2.3B-50.3% | $4.7B+0.8% | $4.6B+39.1% | $3.3B+8.9% | $3.1B+29.4% | $2.4B |
| Gross Profit | $535.9M | $572.7M-14.3% | $668.2M+26.8% | $527.1M+43.4% | $367.7M+3.7% | $354.5M-16.1% | $422.3M-26.4% | $574.0M+0.6% | $570.3M-8.3% | $622.2M-20.0% | $777.8M-55.2% | $1.7B+12.0% | $1.6B+48.6% | $1.0B+37.2% | $760.4M+30.9% | $580.8M |
| SG&A Expenses | $216.7M | $214.3M-9.1% | $235.7M+16.7% | $201.9M+8.9% | $185.4M+3.2% | $179.6M-5.3% | $189.6M-12.6% | $217.0M-26.8% | $296.6M-12.6% | $339.3M+8.1% | $313.9M-34.1% | $476.4M+18.0% | $403.6M+38.6% | $291.3M+30.0% | $224.1M+15.5% | $194.0M |
| Operating Income | $754.9M | $649.2M+32.1% | $491.5M+17.9% | $417.0M+24.9% | $334.0M+30.1% | $256.8M+266.1% | -$154.6M-139.0% | $396.8M+25.9% | $315.1M-14.4% | $368.3M-23.1% | $478.9M-66.7% | $1.4B+15.0% | $1.3B+61.9% | $772.9M+34.5% | $574.8M+34.7% | $426.8M |
| Interest Expense | N/A | N/A | -$273.5M-3.0% | -$265.5M-27.0% | -$209.1M-9.2% | -$191.4M-187.3% | $219.2M-1.2% | $221.8M+23.7% | $179.3M-2.6% | $184.0M+1.2% | $181.9M-6.6% | $194.7M+0.7% | $193.4M+3.3% | $187.3M-3.8% | $194.7M+5.1% | $185.3M |
| Income Tax | $119.7M | $90.9M+80.4% | $50.4M+460.0% | $9.0M-67.4% | $27.6M+73.6% | $15.9M+105.8% | -$274.1M-566.2% | $58.8M+38.0% | $42.6M+110.3% | -$414.8M-488.4% | $106.8M-74.9% | $426.0M+20.1% | $354.8M+73.6% | $204.4M+52.5% | $134.0M+45.3% | $92.2M |
| Net Income | $339.4M | $277.3M+76.5% | $157.1M+24.1% | $126.6M+73.7% | $72.9M-59.9% | $181.8M+223.4% | -$147.3M-207.0% | $137.6M-13.6% | $159.3M-77.3% | $702.5M+104.5% | $343.6M-56.9% | $796.5M+17.4% | $678.2M+80.6% | $375.5M+47.1% | $255.2M+79.5% | $142.2M |
| EPS (Diluted) | $4.15 | $3.05+86.0% | $1.64+29.1% | $1.27+78.9% | $0.71-59.4% | $1.75+237.8% | -$1.27-218.7% | $1.070.0% | $1.07-76.3% | $4.52+100.9% | $2.25-55.7% | $5.08+21.2% | $4.19 | $2.38+49.7% | $1.59 | $1.77 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TRN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.4B-4.6% | $8.8B-0.8% | $8.9B+2.1% | $8.7B+5.9% | $8.2B-5.4% | $8.7B0.0% | $8.7B+8.9% | $8.0B-16.3% | $9.5B+4.6% | $9.1B+2.7% | $8.9B+2.2% | $8.7B+19.5% | $7.3B+9.1% | $6.7B+9.0% | $6.1B |
| Cash & Equivalents | $201.3M-11.8% | $228.2M+115.9% | $105.7M+32.8% | $79.6M-52.4% | $167.3M+26.7% | $132.0M-20.6% | $166.2M-7.3% | $179.2M-77.0% | $778.6M+5.0% | $741.6M-24.5% | $981.8M+10.6% | $887.9M+107.2% | $428.5M-25.2% | $573.0M+63.2% | $351.1M |
| Inventory | $469.1M-1.5% | $476.2M-30.4% | $684.3M+8.7% | $629.4M+45.4% | $432.9M+51.8% | $285.2M-34.2% | $433.4M-17.4% | $524.7M+30.3% | $402.8M-39.5% | $665.8M-29.4% | $943.1M-11.7% | $1.1B+31.1% | $814.7M+16.0% | $702.1M+28.9% | $544.6M |
| Accounts Receivable | $389.1M+2.6% | $379.1M+4.3% | $363.5M+12.4% | $323.5M+42.1% | $227.6M+38.4% | $164.4M-36.8% | $260.1M-6.0% | $276.6M+35.3% | $204.4M-46.0% | $378.7M+2.4% | $369.9M-8.7% | $405.3M+11.0% | $365.0M-6.4% | $390.0M+1.1% | $385.9M |
| Goodwill | $221.5M0.0% | $221.5M0.0% | $221.5M+13.1% | $195.9M+27.0% | $154.2M+4.8% | $147.2M-29.5% | $208.8M0.0% | $208.8M0.0% | $208.8M-72.3% | $754.1M0.0% | $753.8M-2.5% | $773.2M+177.9% | $278.2M+15.7% | $240.4M+9.5% | $219.5M |
| Total Liabilities | $7.3B-3.3% | $7.5B-1.4% | $7.6B+2.4% | $7.5B+7.4% | $6.9B+3.8% | $6.7B+5.7% | $6.3B+16.5% | $5.4B+15.8% | $4.7B-2.7% | $4.8B-0.5% | $4.8B-8.7% | $5.3B+16.1% | $4.6B+0.7% | $4.5B+8.6% | $4.2B |
| Total Equity | $1.1B+1.7% | $1.1B+2.1% | $1.0B+2.4% | $1.0B-1.7% | $1.0B-40.8% | $1.7B-14.3% | $2.0B-8.2% | $2.2B-50.9% | $4.5B+14.9% | $3.9B+7.2% | $3.7B+22.0% | $3.0B+24.7% | $2.4B+17.0% | $2.1B+10.2% | $1.9B |
| Retained Earnings | $1.1B+2.6% | $1.1B+4.3% | $1.0B+1.8% | $992.6M-5.2% | $1.0B-40.9% | $1.8B-18.9% | $2.2B-6.2% | $2.3B-43.6% | $4.1B+17.9% | $3.5B+8.6% | $3.2B+29.3% | $2.5B+33.1% | $1.9B+21.7% | $1.5B+16.9% | $1.3B |
Not reported in any period shown, so not listed: Current Assets, Current Liabilities, Long-Term Debt.
TRN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $388.3M | $359.7M-37.3% | $573.8M+94.1% | $295.6M+2409.4% | -$12.8M-102.1% | $611.8M-6.1% | $651.7M+65.6% | $393.6M+3.8% | $379.1M-50.2% | $761.6M-30.1% | $1.1B+16.0% | $939.7M+14.7% | $819.2M+23.7% | $662.2M+25.6% | $527.4M+375.6% | $110.9M |
| Capital Expenditures | $45.7M | $45.6M-15.2% | $53.8M+30.3% | $41.3M+8.7% | $38.0M+61.0% | $23.6M-75.4% | $95.9M+9.0% | $88.0M+135.9% | $37.3M+69.5% | $22.0M-55.6% | $49.5M-74.7% | $196.0M-10.6% | $219.3M+46.3% | $149.9M+28.6% | $116.6M+145.0% | $47.6M |
| Free Cash Flow | $342.6M | $314.1M-39.6% | $520.0M+104.5% | $254.3M+600.6% | -$50.8M-108.6% | $588.2M+5.8% | $555.8M+81.9% | $305.6M-10.6% | $341.8M-53.8% | $739.6M-28.9% | $1.0B+39.9% | $743.7M+24.0% | $599.9M+17.1% | $512.3M+24.7% | $410.8M+549.0% | $63.3M |
| Investing Cash Flow | -$325.3M | -$385.6M-79.7% | -$214.6M+40.9% | -$363.0M-39.2% | -$260.7M-194.4% | $276.3M+151.8% | -$532.9M+46.4% | -$993.3M-102.5% | -$490.5M-3.8% | -$472.7M+53.8% | -$1.0B-100.0% | -$511.3M+37.2% | -$814.7M+0.4% | -$818.0M-162.7% | -$311.4M-266.4% | -$85.0M |
| Financing Cash Flow | -$108.4M | -$24.9M+88.7% | -$219.9M-2781.7% | $8.2M-96.9% | $265.4M+132.6% | -$814.1M-384.6% | -$168.0M-131.9% | $526.5M+202.9% | -$511.6M-802.3% | -$56.7M+81.6% | -$307.7M+42.0% | -$530.3M-216.6% | $454.9M+3925.7% | $11.3M+91.5% | $5.9M+120.5% | -$28.8M |
| Dividends Paid | $98.8M | $98.7M+5.9% | $93.2M+8.4% | $86.0M+11.8% | $76.9M-13.1% | $88.5M-3.5% | $91.7M+11.7% | $82.1M+6.1% | $77.4M+6.6% | $72.6M+8.8% | $66.7M+2.8% | $64.9M+19.3% | $54.4M+38.4% | $39.3M+24.0% | $31.7M+16.5% | $27.2M |
| Share Buybacks | $52.6M | $71.3M+244.4% | $20.7M | $0-100.0% | $51.8M-93.8% | $833.4M+335.7% | $191.3M-14.9% | $224.7M-55.6% | $506.1M+537.4% | $79.4M+128.8% | $34.7M-69.8% | $115.0M+215.1% | $36.5M-64.6% | $103.2M+128.3% | $45.2M | $0 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TRN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.6%+4.9pp | 21.7%+4.0pp | 17.7%-0.9pp | 18.6%-4.8pp | 23.4%-0.8pp | 24.1%+3.3pp | 20.8%-1.9pp | 22.7%-3.2pp | 25.9%+0.8pp | 25.2%-2.0pp | 27.2%+2.0pp | 25.1%+1.2pp | 23.9%+3.9pp | 20.0%+0.2pp | 19.8% |
| Operating Margin | 30.1%+14.1pp | 16.0%+2.0pp | 14.0%-2.9pp | 16.9%-0.1pp | 16.9%+25.8pp | -8.8%-23.3pp | 14.4%+1.9pp | 12.6%-2.8pp | 15.4%-0.1pp | 15.5%-7.0pp | 22.5%+2.2pp | 20.3%+2.6pp | 17.7%+2.6pp | 15.1%+0.5pp | 14.5% |
| Net Margin | 12.9%+7.8pp | 5.1%+0.9pp | 4.2%+0.5pp | 3.7%-8.3pp | 12.0%+20.4pp | -8.4%-13.4pp | 5.0%-1.3pp | 6.3%-22.9pp | 29.3%+18.2pp | 11.1%-1.3pp | 12.5%+1.5pp | 11.0%+2.4pp | 8.6%+1.9pp | 6.7%+1.9pp | 4.8% |
| Return on Equity | 25.7%+10.9pp | 14.8%+2.6pp | 12.2%+5.0pp | 7.2%-10.4pp | 17.6%+26.1pp | -8.5%-15.3pp | 6.8%-0.4pp | 7.2%-8.4pp | 15.6%+6.8pp | 8.8%-13.0pp | 21.8%-0.8pp | 22.6%+7.0pp | 15.6%+3.2pp | 12.4%+4.8pp | 7.6% |
| Return on Assets | 3.3%+1.5pp | 1.8%+0.4pp | 1.4%+0.6pp | 0.8%-1.4pp | 2.2%+3.9pp | -1.7%-3.3pp | 1.6%-0.4pp | 2.0%-5.4pp | 7.4%+3.6pp | 3.8%-5.2pp | 9.0%+1.2pp | 7.8%+2.6pp | 5.2%+1.3pp | 3.8%+1.5pp | 2.3% |
| Debt-to-Equity | 6.76-0.3x | 7.11-0.3x | 7.360.0x | 7.36+0.6x | 6.74+2.9x | 3.85+0.7x | 3.11+0.7x | 2.45+1.4x | 1.04-0.2x | 1.23-0.1x | 1.32-0.4x | 1.77-0.1x | 1.90-0.3x | 2.210.0x | 2.24 |
| FCF Margin | 14.6%-2.3pp | 16.9%+8.4pp | 8.5%+11.1pp | -2.6%-41.4pp | 38.8%+7.0pp | 31.8%+20.7pp | 11.1%-2.5pp | 13.6%-17.2pp | 30.9%-2.8pp | 33.7%+22.0pp | 11.6%+1.9pp | 9.7%-2.0pp | 11.7%+1.0pp | 10.8%+8.6pp | 2.1% |
Not reported in any period shown, so not listed: Current Ratio.
Similar Companies
Where Trinity Industri Ranks
Frequently Asked Questions
What is Trinity Industri's annual revenue?
Trinity Industri (TRN) reported $2.2B in total revenue for fiscal year 2025. This represents a -30.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Trinity Industri's revenue growing?
Trinity Industri (TRN) revenue declined by 30.0% year-over-year, from $3.1B to $2.2B in fiscal year 2025.
Is Trinity Industri profitable?
Yes, Trinity Industri (TRN) reported a net income of $277.3M in fiscal year 2025, with a net profit margin of 12.9%.
What is Trinity Industri's EBITDA?
Trinity Industri (TRN) had EBITDA of $954.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Trinity Industri's gross margin?
Trinity Industri (TRN) had a gross margin of 26.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Trinity Industri's operating margin?
Trinity Industri (TRN) had an operating margin of 30.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Trinity Industri's net profit margin?
Trinity Industri (TRN) had a net profit margin of 12.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Trinity Industri pay dividends?
Yes, Trinity Industri (TRN) paid $1.21 per share in dividends during fiscal year 2025.
What is Trinity Industri's return on equity (ROE)?
Trinity Industri (TRN) has a return on equity of 25.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Trinity Industri's free cash flow?
Trinity Industri (TRN) generated $314.1M in free cash flow during fiscal year 2025. This represents a -39.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Trinity Industri's operating cash flow?
Trinity Industri (TRN) generated $359.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trinity Industri's total assets?
Trinity Industri (TRN) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Trinity Industri's capital expenditures?
Trinity Industri (TRN) invested $45.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Trinity Industri's debt-to-equity ratio?
Trinity Industri (TRN) had a debt-to-equity ratio of 6.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trinity Industri's return on assets (ROA)?
Trinity Industri (TRN) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trinity Industri's Piotroski F-Score?
Trinity Industri (TRN) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Trinity Industri's earnings high quality?
Trinity Industri (TRN) has an earnings quality ratio of 1.30x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Trinity Industri?
Trinity Industri (TRN) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.