TRNNYSERailroad EquipmentFiscal year ends December 31
TRINITY INDUSTRIES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$24.87−0.35 (-1.39%)
Close on Oct 19, 2026
- Market cap
- $2.03B
- P/E (TTM)
- 6.0
- Dividend yield
- 4.87%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
26.6%+2.4 pts over 5 years
Operating margin
30.1%+38.9 pts over 5 years
Net margin
11.7%+20.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -30.0% | +2.9% | +4.3% | -10.3% | |
| Gross profit | -14.3% | +15.9% | +6.3% | -10.5% | |
| Operating income | +32.1% | +24.8% | – | -7.7% | |
| Net income | +82.9% | +61.5% | – | -10.8% | |
| EPS, diluted | +86.0% | +62.6% | – | -5.0% | |
| Free cash flow | -39.6% | – | -10.8% | -8.3% | |
| Dividend per share | +6.1% | +8.4% | +9.2% | +10.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.1% | -7.8% | 23.7% | |
| Return on assets | 3.8% | -1.7% | 2.9% | |
| Interest coverage | 2.6× | -0.7× | – | |
| Inventory turnover | 2.9× | 3.7× | 3.4× | |
| Capex to revenue | 1.6% | 5.5% | 2.1% | |
| Diluted shares | 149M | 116M | 83M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Trinity Industries generated $1.85B from operations and spent $1.62B on capital expenditure, dividends and share buybacks. 12% of that went back into the business.
Generated
$1.85B
Used
$1.62B
Capital expenditure$202.30M12%Dividends$443.30M27%Share buybacks$977.20M60%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.7%
×Asset turnover0.25×
×Equity multiplier8.08×
=Return on equity, FY202523.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.7% | 0.25× | 8.08× | 23.7% |
| FY2024 | 4.5% | 0.35× | 8.46× | 13.2% |
| FY2023 | 3.6% | 0.34× | 8.60× | 10.3% |
| FY2022 | 3.0% | 0.23× | 8.30× | 5.9% |
| FY2021 | 12.0% | 0.18× | 6.12× | 13.1% |
| FY2020 | -8.4% | 0.20× | 4.62× | -7.8% |
| FY2019 | 5.0% | 0.33× | 3.94× | 6.5% |
| FY2018 | 6.3% | 0.29× | 2.61× | 4.7% |
| FY2017 | 29.3% | 0.26× | 2.22× | 16.7% |
| FY2016 | 11.1% | 0.34× | 2.38× | 9.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$253.10M
- Cash generatingOperating cash flow above zero$359.70M
- Return on assets improvedROA up on the prior year1.6% → 2.9%
- Earnings backed by cashOperating cash flow above net income$359.70M vs $253.10M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise84M → 83M
- Gross margin improvedGross margin up on the prior year21.70% → 26.55%
- More efficientAsset turnover rose0.35 → 0.24