TRN Financials Trinity Industries Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:32 UTC Overview →

Growth & profitability

Revenue has grown 4.3% per year over the past 5 years.
Operating margin has expanded, at 30.1% in the latest year.
Free cash flow has declined 10.8% per year over the past 5 years.

Financial health

Total debt ($5.4B) exceeds cash ($201M); net debt is $5.2B.
Total debt has grown slower than revenue (-1.0% vs 4.3% per year).
Total debt is 5.7× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 35.6% of earnings and 31.4% of free cash flow.
The dividend has grown 1.5% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.2B	$277M	26.6%	30.1%	25.7%	3.3%	$314M	$5.4B	$201M
2024	$3.1B	$157M	21.7%	16.0%	14.8%	1.8%	$520M	$5.7B	$228M
2023	$3.0B	$127M	17.7%	14.0%	12.2%	1.4%	$254M	$5.8B	$106M
2022	$2.0B	$73M	18.6%	16.9%	7.2%	0.8%	-$51M	$5.6B	$80M
2021	$1.5B	$182M	23.4%	16.9%	17.7%	2.2%	$588M	—	$167M
2020	$1.7B	-$147M	24.1%	-8.8%	-8.5%	-1.7%	$556M	—	$132M
2019	$2.8B	$138M	20.9%	14.4%	6.8%	1.6%	$306M	—	$166M
2018	$2.5B	$159M	22.7%	12.6%	7.2%	2.0%	$342M	—	$179M
2017	$2.4B	$703M	26.0%	15.4%	15.6%	7.4%	$740M	—	$779M
2016	$3.1B	$344M	25.2%	15.5%	8.8%	3.8%	$1.0B	—	$742M
2015	—	$797M	—	—	21.8%	9.0%	$744M	—	$982M
2014	—	$678M	—	—	22.6%	7.8%	$600M	—	$888M
2013	—	$376M	—	—	15.6%	5.2%	$512M	—	$429M
2012	—	$255M	—	—	12.4%	3.8%	$411M	—	$573M
2011	—	$142M	—	—	7.6%	2.3%	$63M	—	$351M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$535M	$18M	23.7%	17.9%	1.6%	0.2%	$50M	$5.3B	$158M
Jun '26	$485M	$98M	22.7%	41.2%	8.6%	1.2%	$57M	$5.2B	$156M
Mar '26	$492M	$24M	26.2%	20.5%	2.2%	0.3%	$92M	$5.4B	$133M
Dec '25	$611M	$187M	25.5%	54.9%	17.3%	2.2%	$159M	$5.4B	$201M
Sep '25	$454M	$30M	31.1%	26.1%	3.0%	0.3%	$35M	$5.9B	$66M
Jun '25	$506M	$14M	26.4%	18.8%	1.4%	0.2%	$53M	$5.9B	$148M
Mar '25	$585M	$22M	24.3%	17.0%	2.1%	0.3%	$67M	$5.6B	$95M
Dec '24	$629M	$29M	24.6%	17.8%	2.7%	0.3%	$180M	$5.7B	$228M
Sep '24	$799M	$31M	21.2%	15.3%	3.0%	0.4%	$62M	$5.7B	$222M
Jun '24	$841M	$54M	21.3%	16.9%	5.1%	0.6%	$230M	$5.7B	$257M
Mar '24	$810M	$24M	20.3%	14.2%	2.3%	0.3%	$48M	$5.9B	$119M
Dec '23	$798M	$63M	20.2%	18.6%	6.1%	0.7%	$76M	$5.8B	$106M
Sep '23	$821M	$22M	17.3%	12.2%	2.2%	0.2%	$64M	$5.8B	$114M
Jun '23	$722M	$17M	16.8%	13.7%	1.7%	0.2%	$22M	$5.8B	$92M
Mar '23	$642M	$4M	16.1%	10.8%	0.4%	0.0%	$92M	$5.7B	$82M
Dec '22	$591M	$31M	17.1%	19.2%	3.1%	0.4%	$43M	$5.6B	$80M
Sep '22	$497M	$26M	20.4%	18.7%	2.6%	0.3%	-$2M	—	$59M
Jun '22	$417M	$4M	21.9%	17.5%	0.4%	0.0%	-$110M	—	$50M
Mar '22	$473M	-$700000	15.7%	11.6%	-0.1%	-0.0%	$18M	—	$143M
Dec '21	$472M	$134M	20.4%	14.7%	13.0%	1.6%	$178M	—	$167M

Valuation over time

How the market has priced TRN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 26.1× (Mar '23) to 8.6× (Nov '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 1.1× (Nov '26).
The dividend yield has risen from 4.0% (Mar '23) to 4.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is TRN growing its revenue and profit?

Over the past 5 years, Trinity Industries Inc's revenue has grown 4.3% per year. These are computed facts, not advice.

How much debt does TRN have?

As of FY2025, Trinity Industries Inc reported $5.4B of total debt against $201M of cash.

What is TRN's profit margin?

In FY2025, gross margin was 26.6%, operating margin 30.1%, and net margin 12.9%.

What is TRN's P/E ratio?

Trinity Industries Inc's P/E (TTM) is 7.30 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the TRN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 8.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.