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TRTN-PC

Triton International Limited

TRTN-PC

Triton International Limited • NYSE
$24.71 ▼ -0.56% (-0.14)
Market Cap $2.50 B
52w High $25.53
52w Low $21.93
Dividend Yield 1.84%
P/E 3.07
Volume 15.32K
Outstanding Shares 101.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $326.289M ▼ $26.488M ▲ $125.724M ▼ 38.531% ▲ $1.09 ▼ $285.319M ▼
Q1-2025 $394.955M ▼ $24.431M ▲ $144.773M ▼ 36.656% ▼ $1.29 ▼ $363.349M ▲
Q4-2024 $424.7M ▲ $-46.59M ▼ $164.563M ▲ 38.748% ▲ $1.5 ▲ $306.966M ▼
Q3-2024 $420.247M ▲ $-39.5M ▼ $150.653M ▲ 35.849% ▲ $1.36 ▲ $368.432M ▲
Q2-2024 $354.842M $22.056M $77.436M 21.823% $0.64 $243M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $979.881M ▲ $9.902B ▲ $7.417B ▲ $2.485B ▲
Q1-2025 $106.683M ▲ $9.034B ▼ $6.639B ▼ $2.395B ▼
Q4-2024 $58.227M ▼ $11.103B ▼ $8.294B ▼ $2.809B ▼
Q3-2024 $85.818M ▼ $11.207B ▲ $8.386B ▲ $2.82B ▼
Q2-2024 $87.003M $11.012B $8.077B $2.935B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $125.724M ▼ $212.663M ▼ $-16.369M ▼ $676.904M ▲ $873.198M ▲ $132.669M ▼
Q1-2025 $144.773M ▼ $287.698M ▲ $47.631M ▲ $-398.362M ▼ $-63.033M ▼ $267.498M ▲
Q4-2024 $164.563M ▲ $245.255M ▼ $-174.999M ▲ $-61.757M ▼ $8.499M ▼ $-17.875M ▲
Q3-2024 $150.653M ▲ $342.863M ▲ $-212.615M ▼ $-56.034M ▲ $74.214M ▲ $-192.085M ▼
Q2-2024 $77.436M $267.733M $-182.71M $-99.401M $-14.378M $-26.119M

Revenue by Products

Product Q1-2020Q3-2020Q4-2020Q2-2021
Equipment Leasing
Equipment Leasing
 $320.00M ▲$330.00M ▲$0 ▼$370.00M ▲
Equipment Trading
Equipment Trading
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Triton’s income statement shows a mature, profitable business that had a boom period in 2022, then settled back to more normal levels. Revenue has softened a bit from that peak but still sits comfortably above where it was a few years ago. Profitability remains solid, though earnings have drifted down from the unusually strong conditions seen during the pandemic-era surge in global trade. Overall, it looks like a company that is still earning healthy profits, just not at the exceptional levels reached in its best year.

Balance Sheet

Balance Sheet The balance sheet reflects a classic asset-heavy leasing business: large investments in containers funded by meaningful amounts of debt. Total assets have drifted slightly lower from their prior peak, suggesting a period of more measured growth or some portfolio pruning. Debt remains high relative to equity, but equity has grown over time, which points to value being built in the business. Cash balances are quite small compared with the asset base, so the company relies more on ongoing cash flow and financing access than on large cash cushions.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations is a clear strength and has been consistently strong, which is important for a capital‑intensive lessor like Triton. Free cash flow, however, has been more volatile because of big swings in investment spending on new containers. In years when Triton invests heavily, free cash flow tightens or goes negative; when it slows investment, free cash flow rises. This pattern is typical for leasing companies and highlights how capital spending choices can significantly change the near‑term cash picture even if the underlying business remains healthy.

Competitive Edge

Competitive Edge Triton holds a very strong competitive position as the world’s largest container lessor, with scale that smaller rivals struggle to match. Its long relationships with major global shipping lines, extensive global depot network, and ability to deliver large volumes of containers quickly give it “go‑to supplier” status. These advantages translate into cost efficiencies and customer loyalty that are difficult for new entrants to replicate. The main strategic risk is the cyclical nature of global trade and shipping demand, which can swing utilization and pricing even for the strongest player.

Innovation and R&D

Innovation and R&D While Triton is not a traditional R&D‑driven company, it has invested meaningfully in internal technology, data analytics, and digital tools that improve fleet management and customer service. Its proprietary systems help optimize container use, maintenance, and logistics across a vast global network, which reinforces its cost and service edge. The company is also leaning into sustainability (for example, cleaner paints and more efficient refrigerated units) and is exploring more digital capabilities like connected containers and enhanced online portals. Innovation here is more about smarter operations and better customer experience than about breakthrough products, but it still contributes to the moat.

Summary

Taken together, Triton looks like a large, established, and profitable container leasing business with strong operational foundations. Earnings have cooled from an exceptional peak but remain solid, supported by steady operating cash flow. The balance sheet carries significant debt, as is typical for this type of asset‑heavy model, but equity has built up over time. Triton’s scale, customer relationships, and global network give it a durable competitive edge, while its focus on digital tools and sustainability helps keep the model relevant. The key variables to watch are the global trade cycle, capital spending decisions, and how the company is managed under Brookfield’s ownership over time.