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 45 d ago 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
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
Sep '21	$420M	$32M	19.6%	18.7%	2.4%	0.4%	$90M	—	$222M

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 26.6× (Mar '23) to 8.1× (Sep '26).
The price-to-sales ratio has risen from 1.0× (Mar '23) to 1.0× (Sep '26).
The dividend yield has risen from 4.0% (Mar '23) to 4.4% (Sep '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?

As of Sep '26, Trinity Industries Inc traded at a price-to-earnings ratio of about 8.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.