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TRN

Trinity Industries, Inc.

TRN

Trinity Industries, Inc. • NYSE
$26.52 ▲ 0.19% (+0.05)
Market Cap $2.16 B
52w High $39.83
52w Low $22.38
Dividend Yield 1.20%
P/E 21.56
Volume 244.25K
Outstanding Shares 81.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $454.1M ▼ $22.8M ▼ $30.3M ▲ 6.673% ▲ $0.005 ▼ $194.9M ▲
Q2-2025 $506.2M ▼ $38M ▼ $14.1M ▼ 2.785% ▼ $0.17 ▲ $168.9M ▲
Q1-2025 $585.4M ▼ $42.4M ▼ $22.1M ▼ 3.775% ▼ $0.003 ▼ $99.8M ▼
Q4-2024 $629.4M ▼ $43M ▼ $28.9M ▼ 4.592% ▲ $0.35 ▼ $188M ▼
Q3-2024 $798.8M $47.1M $31.4M 3.931% $0.38 $196.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $238.7M ▼ $8.931B ▲ $7.681B ▲ $1.001B ▼
Q2-2025 $315.3M ▲ $8.81B ▲ $7.552B ▲ $1.009B ▼
Q1-2025 $94.9M ▼ $8.665B ▼ $7.365B ▼ $1.053B ▼
Q4-2024 $374.4M ▲ $8.832B ▼ $7.525B ▼ $1.059B ▲
Q3-2024 $332.4M $8.843B $7.544B $1.057B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $32.2M ▼ $44.2M ▼ $-156.3M ▼ $35.5M ▼ $-76.6M ▼ $-199.3M ▼
Q2-2025 $47.1M ▲ $61.6M ▼ $-150.5M ▼ $169.1M ▲ $80.2M ▲ $-122.6M ▼
Q1-2025 $22.1M ▼ $76.5M ▼ $-91.6M ▲ $-124.2M ▼ $-139.3M ▼ $-52.9M ▼
Q4-2024 $52.1M ▲ $201.6M ▲ $-110.9M ▼ $-48.7M ▲ $42M ▲ $-21.6M ▲
Q3-2024 $35.2M $78.5M $-49.3M $-61M $-31.8M $-45.4M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Manufacturing
Manufacturing
 $340.00M ▲$300.00M ▼$200.00M ▼$150.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Trinity’s sales have climbed steadily over the last few years as rail markets recovered, and profitability has improved from losses earlier in the period to consistent, if still moderate, profits. Margins have widened as the business has scaled back up, with operating earnings growing faster than revenue. That said, bottom-line profit remains sensitive to the economic cycle and to how strongly railcar demand holds up, so earnings quality looks better than before but not yet robust or fully time-tested in a downturn.

Balance Sheet

Balance Sheet The company runs with a balance sheet that is asset-heavy and financed with a sizable amount of debt, which is common for leasing and rail-related businesses but still a key risk factor. Total assets and the railcar portfolio have stayed broadly stable to slightly higher over time, while cash balances remain relatively small. Shareholder equity has trended lower versus earlier years, suggesting the business is more leveraged now and more exposed to interest rates and credit conditions than a low-debt manufacturer would be.

Cash Flow

Cash Flow Cash generation from day-to-day operations has been positive and improving, reflecting better earnings and working capital management. However, heavy and recurring investment in railcars and related assets has meant that free cash flow has often been weak or negative, especially in years of fleet growth. This pattern is typical for a capital-intensive leasing model but means the company relies on outside funding and stable credit markets to support its growth plans.

Competitive Edge

Competitive Edge Trinity benefits from a strong competitive position built around its combined manufacturing and leasing platform and one of the larger railcar fleets in North America. This integrated model lets customers source cars, financing, maintenance, and fleet management from a single provider, which can deepen relationships and raise switching costs. Participation in industry initiatives and long-standing customer ties add to its moat, though the business still faces cyclical rail demand, competition from other lessors and builders, and potential pressure from alternative freight modes like trucking.

Innovation and R&D

Innovation and R&D The company is leaning hard into digital and sustainability themes, which could reshape its role in the rail ecosystem. Its Trinsight platform and participation in the RailPulse joint venture aim to make railcars smarter and more trackable, using sensors, data analytics, and software to improve fleet visibility and utilization. Trinity is also deploying robotics in railcar cleaning and promoting sustainable railcar conversions that reuse materials. These efforts may strengthen customer loyalty and open new service-based revenue streams, but their long-term adoption, pricing power, and returns are still developing and carry execution risk.

Summary

Overall, Trinity looks like a mature, cyclical industrial business that has emerged from a tougher period into healthier growth and profitability, but with meaningful financial leverage and heavy capital needs. Its core strengths lie in its integrated railcar manufacturing and leasing model, large fleet, and deep customer relationships, now reinforced by a clear push into digital platforms and sustainability. Key watchpoints are how well it balances growth with debt, the resilience of profits through future rail cycles, and whether its technology and green initiatives translate into durable competitive advantages and stronger, more consistent cash generation over time.

NEWS

November 13, 2025 · 4:30 PM UTC

Trinity Industries, Inc. to Present at the 2025 Stephens Annual Investment Conference

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October 30, 2025 · 6:55 AM UTC

Trinity Industries, Inc. Announces Third Quarter 2025 Results

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October 15, 2025 · 4:15 PM UTC

Trinity Industries, Inc. Announces Date for Earnings Release

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