Trinity Industries, Inc. (TRN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRN SEC filings page.
Trinity Industries, Inc. (TRN) reported $2.0B in revenue over the twelve months to Jun 30, 2026, down 18.9% from the prior twelve months. 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).
2025 revenue fell sharply, yet operating margins and earnings rose, making reported operating items more important than volume.
In FY2025, revenue and gross profit both fell to$2.2B and$572.7M . Yet operating income rose to$649.2M and operating margin reached30.1% , so the improvement was not produced by more gross dollars; a favorable item or classification within operating results appears to have been important, making reported operating income a less direct read on core selling economics this year.
The balance sheet is heavily liability-financed: FY2025 liabilities were
Cash conversion was positive but weaker than FY2024: operating cash flow fell to
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 Industries, Inc.'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 Industries, Inc. 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 77/100, reflecting efficient cost management and pricing power. This is up from 16.0% the prior year.
Trinity Industries, Inc.'s revenue declined 30.0% year-over-year, from $3.1B to $2.2B. This contraction results in a growth score of 6/100.
Trinity Industries, Inc. 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 Industries, Inc., and counted as zero in the overall score.
Trinity Industries, Inc. converts 14.6% of revenue into free cash flow ($314.1M). This strong cash generation earns a score of 76/100.
Not available for Trinity Industries, Inc., and counted as zero in the overall score.
Trinity Industries, Inc. 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 Industries, Inc. 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.
Trinity Industries, Inc. earns $2.37 in operating income for every $1 of interest expense ($649.2M vs $274.2M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Trinity Industries, Inc. generated $485.1M in revenue in Q2 2026. This represents a decrease of 4.2% from the same quarter a year earlier. Against the prior quarter it is down 1.4%.
Trinity Industries, Inc.'s EBITDA was $271.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 59.0% from the same quarter a year earlier. Against the prior quarter it is up 56.2%.
Trinity Industries, Inc. reported $98.3M in net income in Q2 2026. This represents an increase of 597.2% from the same quarter a year earlier. Against the prior quarter it is up 306.2%.
Trinity Industries, Inc. earned $1.20 per diluted share (EPS) in Q2 2026. This represents an increase of 605.9% from the same quarter a year earlier. Against the prior quarter it is up 300.0%.
Cash & Balance Sheet
Trinity Industries, Inc. generated $57.2M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 8.1% from the same quarter a year earlier. Against the prior quarter it is down 37.5%.
Trinity Industries, Inc. held $155.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Trinity Industries, Inc. paid $0.31 per share in dividends in Q2 2026. This represents an increase of 3.3% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Trinity Industries, Inc.'s gross margin was 22.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.
Trinity Industries, Inc.'s operating margin was 41.2% in Q2 2026, reflecting core business profitability. This is up 22.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.6 percentage points.
Trinity Industries, Inc.'s net profit margin was 20.3% in Q2 2026, showing the share of revenue converted to profit. This is up 17.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.3 percentage points.
Trinity Industries, Inc.'s ROE was 8.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 7.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.4 percentage points.
Capital Allocation
Trinity Industries, Inc. spent $13.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 57.5% from the same quarter a year earlier. Against the prior quarter it is up 81.9%.
Trinity Industries, Inc. invested $11.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 34.5% from the same quarter a year earlier. Against the prior quarter it is up 85.7%.
Not reported for Q2 2026.
TRN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $485.1M-4.2% | $492.0M-16.0% | $611.2M-2.9% | $454.1M-43.2% | $506.2M-39.8% | $585.4M-27.7% | $629.4M-21.1% | $798.8M-2.7% |
| Cost of Revenue | $375.2M+0.6% | $363.1M-18.1% | $455.5M-4.0% | $312.7M-50.3% | $372.8M-43.7% | $443.2M-31.3% | $474.4M-25.5% | $629.3M-7.4% |
| Gross Profit | $109.9M-17.6% | $128.9M-9.4% | $155.7M+0.5% | $141.4M-16.6% | $133.4M-25.5% | $142.2M-13.7% | $155.0M-3.7% | $169.5M+19.5% |
| SG&A Expenses | $51.1M+3.4% | $50.7M+1.4% | $69.7M+13.1% | $45.2M-25.3% | $49.4M-19.4% | $50.0M-4.4% | $61.6M+26.7% | $60.5M+23.2% |
| Operating Income | $199.8M+109.4% | $101.1M+1.3% | $335.4M+199.5% | $118.6M-3.1% | $95.4M-32.8% | $99.8M-13.4% | $112.0M-24.7% | $122.4M+22.2% |
| EBITDA | $271.3M+59.0% | $173.7M-0.2% | $414.1M+123.1% | $195.5M+0.1% | $170.6M-20.9% | $174.1M-7.7% | $185.6M-16.4% | $195.4M+12.8% |
| Interest Expense | -$64.3M+5.0% | -$65.4M+1.1% | N/A | -$69.8M-3.6% | -$67.7M+3.4% | -$66.1M+4.3% | N/A | -$67.4M+2.0% |
| Income Tax | $31.8M+675.6% | $8.5M+14.9% | $68.3M+919.4% | $11.1M-28.8% | $4.1M-76.0% | $7.4M-32.7% | $6.7M-5.6% | $15.6M+160.0% |
| Net Income | $98.3M+597.2% | $24.2M+9.5% | $186.6M+545.7% | $30.3M-3.5% | $14.1M-74.1% | $22.1M-6.8% | $28.9M-54.0% | $31.4M+44.0% |
| EPS (Basic) | $1.23+623.5% | $0.30+11.1% | $2.34+568.6% | $0.380.0% | $0.17-74.2% | $0.27-6.9% | $0.35-54.5% | $0.38+40.7% |
| EPS (Diluted) | $1.20+605.9% | $0.30+15.4% | $2.28+570.6% | $0.370.0% | $0.17-73.8% | $0.26-7.1% | $0.34-54.7% | $0.37+42.3% |
| Diluted Shares (Avg) | 82M-1.6% | 82M-2.3% | N/A | 82M-2.6% | 83M-1.4% | 84M+0.4% | N/A | 84M+0.7% |
Not reported in any period shown, so not listed: R&D Expenses.
TRN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.2B-6.6% | $8.3B-3.9% | $8.4B-4.6% | $8.9B+1.0% | $8.8B-1.6% | $8.7B-4.6% | $8.8B-0.8% | $8.8B-1.5% |
| Cash & Equivalents | $155.7M+5.4% | $132.6M+39.7% | $201.3M-11.8% | $66.3M-70.2% | $147.7M-42.6% | $94.9M-20.1% | $228.2M+115.9% | $222.4M+95.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $533.6M+16.1% | $483.2M+7.4% | $469.1M-1.5% | $554.6M+1.0% | $459.7M-25.5% | $449.7M-30.1% | $476.2M-30.4% | $549.1M-19.2% |
| Accounts Receivable | $339.2M+4.7% | $326.1M-11.6% | $389.1M+2.6% | $311.7M-24.7% | $323.9M-18.5% | $368.9M-23.8% | $379.1M+4.3% | $413.8M+5.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $221.5M0.0% | $221.5M0.0% | $221.5M0.0% | $221.5M0.0% | $221.5M0.0% | $221.5M0.0% | $221.5M0.0% | $221.5M-0.5% |
| Total Liabilities | $7.1B-6.2% | $7.2B-2.4% | $7.3B-3.3% | $7.7B+1.8% | $7.6B-1.3% | $7.4B-5.5% | $7.5B-1.4% | $7.5B-2.3% |
| Total Equity | $1.1B+13.3% | $1.1B+2.4% | $1.1B+1.7% | $1.0B-5.3% | $1.0B-5.3% | $1.1B+0.4% | $1.1B+2.1% | $1.1B+5.7% |
| Retained Earnings | $1.1B+12.1% | $1.1B+2.8% | $1.1B+2.6% | $1.0B-3.0% | $1.0B-2.8% | $1.1B+4.0% | $1.1B+4.3% | $1.1B+8.1% |
Not reported in any period shown, so not listed: Current Assets, Current Liabilities, Non-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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $68.9M+11.9% | $97.8M+27.8% | $177.4M-12.0% | $44.2M-43.7% | $61.6M-74.5% | $76.5M+46.6% | $201.6M+129.4% | $78.5M+7.8% |
| Depreciation & Amortization | $71.5M-4.9% | $72.6M-2.3% | $78.7M+6.9% | $76.9M+5.3% | $75.2M+1.9% | $74.3M+1.2% | $73.6M+0.4% | $73.0M-0.1% |
| Stock-Based Compensation | $5.5M+1.9% | $4.9M-7.5% | N/A | $5.9M-11.9% | $5.4M-8.5% | $5.3M+12.8% | N/A | $6.7M+9.8% |
| Capital Expenditures | $11.7M+34.5% | $6.3M-31.5% | $18.8M-12.6% | $8.9M-45.7% | $8.7M-23.0% | $9.2M+100.0% | $21.5M+80.7% | $16.4M+90.7% |
| Free Cash Flow | $57.2M+8.1% | $91.5M+36.0% | $158.6M-11.9% | $35.3M-43.2% | $52.9M-77.0% | $67.3M+41.4% | $180.1M+137.0% | $62.1M-3.3% |
| Investing Cash Flow | -$111.6M+25.8% | -$70.2M+23.4% | $12.8M+111.7% | -$156.3M-217.0% | -$150.5M-321.0% | -$91.6M+26.1% | -$109.4M-134.3% | -$49.3M-103.7% |
| Financing Cash Flow | $60.0M-64.5% | -$98.6M+20.6% | -$105.3M-109.8% | $35.5M+158.2% | $169.1M+193.7% | -$124.2M-273.0% | -$50.2M+31.0% | -$61.0M+22.3% |
| Dividends Paid | $25.7M-0.4% | $24.8M+0.8% | $24.1M+4.3% | $24.2M+5.7% | $25.8M+6.6% | $24.6M+7.0% | $23.1M+8.5% | $22.9M+7.0% |
| Share Buybacks | $13.1M-57.5% | $7.2M-12.2% | $12.4M-10.1% | $19.9M+231.7% | $30.8M+3322.2% | $8.2M | $13.8M | $6.0M |
TRN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.7%-3.7pp | 26.2%+1.9pp | 25.5%+0.8pp | 31.1%+9.9pp | 26.4%+5.1pp | 24.3%+4.0pp | 24.6%+4.5pp | 21.2%+4.0pp |
| Operating Margin | 41.2%+22.3pp | 20.5%+3.5pp | 54.9%+37.1pp | 26.1%+10.8pp | 18.9%+2.0pp | 17.1%+2.8pp | 17.8%-0.9pp | 15.3%+3.1pp |
| Net Margin | 20.3%+17.5pp | 4.9%+1.1pp | 30.5%+25.9pp | 6.7%+2.7pp | 2.8%-3.7pp | 3.8%+0.9pp | 4.6%-3.3pp | 3.9%+1.3pp |
| Return on Equity | 8.6%+7.2pp | 2.2%+0.1pp | 17.3%+14.6pp | 3.0%+0.1pp | 1.4%-3.7pp | 2.1%-0.2pp | 2.7%-3.3pp | 3.0%+0.8pp |
| Return on Assets | 1.2%+1.0pp | 0.3%0.0pp | 2.2%+1.9pp | 0.3%0.0pp | 0.2%-0.5pp | 0.3%0.0pp | 0.3%-0.4pp | 0.4%+0.1pp |
| Debt-to-Equity | 6.20-1.3x | 6.66-0.3x | 6.76-0.3x | 7.67+0.5x | 7.48+0.3x | 6.99-0.4x | 7.11-0.3x | 7.13-0.6x |
| Asset Turnover | 0.060.0x | 0.060.0x | 0.070.0x | 0.050.0x | 0.060.0x | 0.070.0x | 0.070.0x | 0.090.0x |
| FCF Margin | 11.8%+1.3pp | 18.6%+7.1pp | 25.9%-2.7pp | 7.8%0.0pp | 10.4%-16.9pp | 11.5%+5.6pp | 28.6%+19.1pp | 7.8%-0.1pp |
Not reported in any period shown, so not listed: Current Ratio.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Trinity Industries, Inc. TRN | FY2025 | $2.2B | $277.3M | 12.9% | $2.0B | 28/100 |
| The Greenbrier Companies, Inc. GBX | FY2025 | $3.2B | $204.1M | 6.3% | $1.2B | 19/100 |
| Wabtec Inc. WAB | FY2025 | $11.2B | $1.2B | 10.5% | $48.2B | 57/100 |
| Norfolk Southern Corp. NSC | FY2025 | $12.2B | $2.9B | 23.6% | $71.4B | 51/100 |
| Union Pacific Corp. UNP | FY2025 | $24.5B | $7.1B | 29.1% | $165.4B | 58/100 |
| CSX Corporation CSX | FY2025 | $14.1B | $2.9B | 20.5% | $87.5B | 52/100 |
Where Trinity Industries, Inc. Ranks
Frequently Asked Questions
What is Trinity Industries, Inc.'s annual revenue?
Trinity Industries, Inc. (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 Industries, Inc.'s revenue growing?
Trinity Industries, Inc. (TRN) revenue declined by 30.0% year-over-year, from $3.1B to $2.2B in fiscal year 2025.
Is Trinity Industries, Inc. profitable?
Yes, Trinity Industries, Inc. (TRN) reported a net income of $277.3M in fiscal year 2025, with a net profit margin of 12.9%.
What is Trinity Industries, Inc.'s EBITDA?
Trinity Industries, Inc. (TRN) had EBITDA of $954.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Trinity Industries, Inc.'s gross margin?
Trinity Industries, Inc. (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 Industries, Inc.'s operating margin?
Trinity Industries, Inc. (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 Industries, Inc.'s net profit margin?
Trinity Industries, Inc. (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 Industries, Inc. pay dividends?
Yes, Trinity Industries, Inc. (TRN) paid $1.21 per share in dividends during fiscal year 2025.
What is Trinity Industries, Inc.'s return on equity (ROE)?
Trinity Industries, Inc. (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 Industries, Inc.'s free cash flow?
Trinity Industries, Inc. (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 Industries, Inc.'s operating cash flow?
Trinity Industries, Inc. (TRN) generated $359.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trinity Industries, Inc.'s total assets?
Trinity Industries, Inc. (TRN) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Trinity Industries, Inc.'s capital expenditures?
Trinity Industries, Inc. (TRN) invested $45.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Trinity Industries, Inc.'s debt-to-equity ratio?
Trinity Industries, Inc. (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 Industries, Inc.'s return on assets (ROA)?
Trinity Industries, Inc. (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 Industries, Inc.'s P/E ratio?
Trinity Industries, Inc. (TRN) trades at 6.0x earnings, its market capitalization divided by net income of $339.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Trinity Industries, Inc.'s price-to-sales ratio?
Trinity Industries, Inc. (TRN) trades at 1.0x sales, its market capitalization divided by revenue of $2.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.0B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Trinity Industries, Inc.'s Piotroski F-Score?
Trinity Industries, Inc. (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 Industries, Inc.'s earnings high quality?
Trinity Industries, Inc. (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.
Can Trinity Industries, Inc. cover its interest payments?
Trinity Industries, Inc. (TRN) has an interest coverage ratio of 2.37x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Trinity Industries, Inc.?
Trinity Industries, Inc. (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.