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Trinity Industries Inc. (TRN)

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Trinity Industries Inc. (TRN) reported revenue of $485 million for Q2 FY2026, the quarter ended 30 June 2026, down 4.2% on the same quarter a year earlier. Net income was $98 million, up 597.2% on the year, and diluted earnings per share $1.20. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$485 milliondown 4.2%
Net income$98 millionup 597.2%
Diluted EPS$1.20
QuarterQ2 FY2026ended 30 June 2026

Trinity Industries (TRN) in brief

Trinity Industries (TRN) reported revenue of $2.2 billion for fiscal 2025, the year ended 31 December 2025, down 30.0% on the year before.
Read moreNet income was $253 million and diluted earnings per share $3.05. Revenue was $3.1 billion in fiscal 2024, $3.0 billion in fiscal 2023, $2.0 billion in fiscal 2022 and $1.5 billion in fiscal 2021. Net income in the same years was $138 million, $106 million, $60 million and $182 million. Over the twelve months to 30 June 2026, Trinity Industries reported revenue of $2.0 billion and net income of $339 million. Revenue grew 4.3% a year, compounded, over the five years to fiscal 2025. Trinity Industries declared $1.21 a share in dividends over the last four quarters and had 80 million shares outstanding at the latest filed count. At 30 June 2026 it carried $5.2 billion of debt and $156 million of cash. At the close of 9 October 2026 the market cap of Trinity Industries was $2.0 billion, 6.1 times its earnings over the last twelve months.

Ratios

From the filings

ROE29.7%
ROCE11.9%
Operating margin37.0%
Net margin16.6%
FCF margin16.8%
Interest covern/a
Debt to equity4.57
Cash conversion1.14
Share count, 1 year-1.4%
Sales CAGR, 3 years2.9%
Profit CAGR, 3 years61.5%
EPS, TTM$4.15

At the close of 9 October 2026

Price$25.52
Market cap$2.0 billion
Stock P/E6.15
Price to book1.78
EV / EBITDA6.74
Dividend yield4.7%
Market cap / sales1.00
52-week high$38.07
52-week low$24.90
Price, 1 year-8.3%
Price CAGR, 3 years4.7%
Price CAGR, 5 years-2.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the total debt Trinity Industries Inc. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
TRNgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TRN

Filings21 in twelve months: 12 current reports (8-K), about 5 regulation FD disclosure; 5 material agreement; 4 results of operations; 2 new financial obligation; 1 termination of a material agreement
Planned insider sales1 Form 144 notice in twelve months, $504,730; latest 25 August 2026
Options tapeput/call 2.41 by open interest at the 9 October 2026 close; the straddle prices a 4.3% move to 16 October 2026
13F holders6 of the followed funds hold it; largest Geode Capital Management; 7 Schedule 13D or 13G filings in twelve months
Insider trading1 sale and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.4 million shares short, 5.26 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue821798810841799629585506454611492485
Cost of revenue680637645662629474443373313456363375
Gross profit142161165179170155142133141156129110
Gross margin17%20%20%21%21%25%24%26%31%25%26%23%
SG&A49.148.652.361.360.561.650.049.445.269.750.751.1
Operating income10014911514212211299.895.4119335101200
Operating margin12%19%14%17%15%18%17%19%26%55%21%41%
Pre-tax income32.380.542.775.256.447.536.426.048.226535.1134
Tax rate19%9%26%23%28%14%20%16%23%26%24%24%
Net income21.862.823.754.431.428.922.114.130.318724.298.3
Net margin3%8%3%6%4%5%4%3%7%31%5%20%
Diluted EPS$0.26$0.75$0.28$0.65$0.37$0.34$0.26$0.17$0.37$2.28$0.30$1.20
Operating cash flow72.887.952.224278.520276.561.644.217797.868.9
Capital expenditure8.611.94.611.316.421.59.28.78.918.86.311.7
Free cash flow64.276.047.623062.118067.352.935.315991.557.2
Buybacks0.0n/a0.00.96.013.88.230.819.912.47.213.1
Dividends paid21.421.323.024.222.923.124.625.824.224.124.825.7
Shares outstanding82m82m82m82m82m82m82m81m80m80m80m80m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Revenue6,1706,3933,0902,3972,5092,7521,7501,5161,9772,9833,0792,1572,042
Cost of revenue4,6204,6562,3121,7751,9392,1781,3271,1621,6102,4562,4111,5841,506
Gross profit1,5501,736778622570574422354368527668573536
Gross margin25.1%27.2%25.2%26.0%22.7%20.9%24.1%23.4%18.6%17.7%21.7%26.6%26.2%
Selling, general and administrative404476314339297217190180185202236214217
Operating income1,2511,439479368315397-155257334417492649755
Operating margin20.3%22.5%15.5%15.4%12.6%14.4%-8.8%16.9%16.9%14.0%16.0%30.1%37.0%
Interest expense193195182184179222219n/an/an/an/an/an/a
Pre-tax income1,0641,252310195152181-52555.2126149222375482
Income tax355426107-41542.658.8-27415.927.69.050.490.9120
Effective tax rate33.3%34.0%34.5%-212.3%28.1%32.5%n/a28.8%21.8%6.0%22.7%24.2%24.8%
Net income678796344702159138-14718260.1106138253339
Net margin11.0%12.5%11.1%29.3%6.3%5.0%-8.4%12.0%3.0%3.6%4.5%11.7%16.6%
Diluted EPS$4.19$5.08$2.25$4.52$1.07$1.07-$1.27$1.75$0.71$1.27$1.64$3.05$4.15
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Railcar Leasing and Services Group1,0391,1411,20555.9%
Rail Products Group1,9441,93895244.1%
Railcar Leasing and Services GroupRail Products Group
2,983FY20233,079FY20242,157FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Railcar Leasing and Services Group1,0391,1411,20555.9%
Manufacturing1,9441,93895244.1%
Railcar Leasing and Services GroupManufacturing
2,983FY20233,079FY20242,157FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow8199401,090762379394652612-12.8296574360388
Capital expenditure21919649.522.037.388.095.923.638.041.353.845.645.7
Free cash flow6007441,041740342306556588-50.8254520314343
Free cash flow margin9.7%11.6%33.7%30.9%13.6%11.1%31.8%38.8%-2.6%8.5%16.9%14.6%16.8%
Cash from investing-815-511-1,023-473-490-993-533276-261-363-215-386-325
Cash from financing455-530-308-56.7-512526-168-8142658.2-220-24.9-108
Depreciation and amortisation245266217230252276258266276293294305300
Share-based compensation53.361.130.922.129.227.825.420.722.522.723.622.922.6
Buybacks36.511534.779.450622519183351.80.020.771.352.6
Dividends paid54.464.966.772.677.482.191.788.576.986.093.298.798.8
Dividend per share$0.38$0.43$0.44$0.50$0.52$0.70$0.78$0.86$0.95$1.06$1.14$1.21n/a
Diluted shares, weighted157m152m149m152m146m127m116m104m84m83m84m83m82m
Shares outstanding at period end156m153m152m151m133mn/an/an/an/an/an/an/a80m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity2,9963,6543,9184,5012,2112,0301,7391,0301,0121,0371,0591,0771,143
Non-controlling interest40239539335735134927726725723824868.12.6
Debt1,2088868828784004,9215,0635,2155,6085,7545,6915,4425,226
Operating lease liabilitiesn/an/an/an/an/a44.896.9106115118n/an/an/a
Other liabilities4,0903,9523,9333,8075,0271,3571,5261,6181,7321,7591,8341,8371,860
Total liabilities and equity8,6958,8869,1259,5437,9898,7018,7028,2368,7248,9068,8328,4248,232
Owned
Fixed assets4,9035,3485,9675,5586,3347,1116,9696,8476,8877,0056,9886,6216,332
Goodwill773754754209209209147154196222222222222
Intangible assets58.886.979.710.422.418.78.928.179.010799.0110n/a
Investments75.0n/an/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents88898274277917916613216779.6106228201156
Inventory1,068943666403525433285433629684476469534
Other assets9297729172,5857207641,160606854784819801989
Total assets8,6958,8869,1259,5437,9898,7018,7028,2368,7248,9068,8328,4248,232
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-10.3%4.3%2.9%-18.9%
Profit growth, compounded-10.8%n/a61.5%251.7%
Return on equity, average10.0%14.1%15.6%23.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Trinity Industries' revenue in fiscal 2025?

Trinity Industries (TRN) reported revenue of $2.2 billion for fiscal 2025, the year ended 31 December 2025, down 30.0% on the year before.

How much did Trinity Industries earn in fiscal 2025?

Net income was $253 million for fiscal 2025, and diluted earnings per share $3.05.

What is Trinity Industries' P/E ratio?

At the close of 9 October 2026, Trinity Industries traded at 6.1 times its earnings over the twelve months to 30 June 2026.

What is Trinity Industries' market cap?

The market cap of Trinity Industries was $2.0 billion at the close of 9 October 2026.

Does Trinity Industries pay a dividend?

Yes. Trinity Industries declared $1.21 a share in dividends over the four quarters to 30 June 2026.

Peers: Shipbuilding, Railroad Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
General Dynamics Corp. GD$89.6 billion20.2116.7%10.3%9.1%0.28n/a
Westinghouse Air Brake Technologies Corp. WAB$48.3 billion38.3611.3%16.4%13.4%0.590.4%
Huntington Ingalls Industries, Inc. HII$10.4 billion15.7712.4%5.3%14.0%0.512.1%
Trinity Industries Inc. TRN$2.0 billion6.1529.7%37.0%-18.9%4.574.7%
Greenbrier Companies Inc. GBX$1.2 billion11.406.8%7.2%-25.6%1.152.6%
2 companies share its SEC industry code (Railroad Equipment); the rest are the names nearest in size in its wider industry, Shipbuilding, Railroad Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202519 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20241 May 2024EDGAR

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