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Trinity Industries Inc (TRN) stock

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NYSE: TRN NYSE Construction Machinery & Heavy Transportation Equipment Next results ~February 11, 2027

B+ Fundamentals grade

Trinity Industries Inc is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$26

Valuation models combined (2)

Base case. Range ~$24–$28. Weighted average of 2 models (residual income, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Trinity Industries Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds161 adding, 122 cuttingOf 46 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Trinity Industries files

10-Q filed October 29: Trinity Industries

Model value −1.4%

Revenue for the twelve months to September 2026 was $2.12bn, down 2.4% on a year earlier, a smaller fall than the 18.9% decline a quarter earlier. Free-cash-flow margin rose to 16.8% from 15.4% a year earlier. Operating margin widened to 34.5% from 19.6%. Our model value falls from $56.84 to $56.03 a share, against a share price of $29.46.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 30: Trinity Industries

Trinity Industries posted revenue of $2.12bn for the twelve months to June 2026, down 2.4% on the prior year. That decline marks a notable improvement on the 18.9% drop recorded a quarter earlier. Profitability also strengthened over the period: free-cash-flow margin climbed to 16.8%, up from 15.4% a year earlier, while operating margin widened sharply to 34.5% from 19.6%. These shifts have had a substantial effect on our model value, which has risen from $25.52 to $56.84 a share. Against a current share price of $28.13, the gap between model value and market price has widened considerably, reflecting the improved margins and the slower pace of revenue contraction seen in the latest twelve-month period.

10-Q on SEC EDGAR

Where Trinity Industries stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.04bn, down 18.9% on a year earlier, a smaller fall than the 27.7% decline a quarter earlier. Free-cash-flow margin rose to 16.8% from 14.4% a year earlier. Operating margin widened to 37.0% from 17.0%. The diluted share count is down 2.2% on a year earlier, which lifts each remaining share. Our valuation models combined value is $25.52 a share, against a share price of $25.69.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Trinity Industries Inc's trailing-twelve-month revenue fell 2.4% year on year, with a free-cash-flow margin of 16.8%. Where it stands out: operating margin of 34.5% ranks 1 of 21 construction machinery & heavy transportation equipment companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 6.3% while net income grew 242.5%: a 236pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 34.5% of revenue is left as operating profit, against a median of 5.8% for construction machinery & heavy transportation equipment companies we cover.
  • Margins widening. Operating margin is up 14.9 points on a year ago.
  • Shrinking share count. Diluted shares fell 1.9% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 2.4% over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 1.1% ranks 16 of 20 construction machinery & heavy transportation equipment companies we cover (median 0.6%).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 6.5% over 90 days.
  • Earnings expected to fall. The consensus expects earnings per share to fall 2% next year.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.27 against an average estimate of $0.27: beat by 0.6%
Revenue
$535m, up 17.8% on a year earlier
Share reaction
+15.3% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate $0.36

Trinity Industries' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week+18.4%
  • 1 month+18.1%
  • This year+20.2%
  • 1 year+16.1%
  • 5 years+27.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.1B
Operating margin
34.5%
Net margin
15.4%
EPS (TTM, diluted)
$3.99

Growth

Revenue growth
−2.4%
Change in growth rate
+16.6 pts
Share count change
−1.9%

Cash

Free cash flow (TTM)
$357M
FCF margin
16.8%
Stock pay % of revenue
1.1%

Earnings

Last results
October 29, 2026
Next results (est.)
February 11, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Results
  4. Announcement
  5. Dividend
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Trinity Industries Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Our value per share comes from a discounted-cash-flow model of Trinity Industries Inc's free cash flow after stock-based pay ( $293M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Trinity Industries Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.99 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$84 ~$72–$140 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$24 ~$18–$32 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$24–$33 Included
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: earnings are positive: price-to-earnings is the better measure
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$26 ~$24–$28 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Trinity Industries Inc with Construction Machinery & Heavy Transportation Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$12.17$14.36$19.70$15.27$16.96$21.00$24.77$25.13$23.57$32.33$25.38$30.50
Market value$1.9bn$2.1bn$3.0bn$2.2bn$2.2bn$2.4bn$2.6bn$2.1bn$2.0bn$2.7bn$2.1bn$2.5bn
+ Net debt (− = net cash)−$96m$140m$99m$221m$4.8bn$4.9bn$5.0bn$5.6bn$5.7bn$5.5bn$5.3bn$5.2bn
Enterprise value$1.8bn$2.3bn$3.1bn$2.5bn$6.9bn$7.4bn$7.6bn$7.7bn$7.6bn$8.2bn$7.4bn$7.7bn
Multiples
Price / sales 0.3x0.7x1.2x0.9x0.8x1.4x1.7x1.1x0.7x0.9x1.0x1.2x
Price / earnings 2.3x6.2x4.3x14.0x15.7x—14.1x35.2x18.5x19.7x8.3x7.6x
Price / free cash flow 2.5x2.1x4.0x6.5x7.1x4.4x4.4x—7.7x5.2x6.7x7.0x
EV / EBITDA 1.0x3.3x5.2x4.3x10.3x70.9x14.6x12.6x10.8x10.5x7.7x7.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

50 /100

Moderate moat

How hard Trinity Industries's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.8% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 23.3%, moving by 3.0 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 15.0%; its worst year was -3.9%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 10 of 10 years, at a median 16.1% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 22.8% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.20 −30% $2.0bn −6%
Next $2.15 −2% $2.3bn +11%

Next year's EPS estimate has moved −6.5% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.3% on 90 days ago. In the last 30 days, 0 analysts raised Trinity Industries Inc's forecast and 2 cut it.

Consensus EPS forecast Trinity Industries Inc, last 90 days
$2.10 $2.15 $2.20 $2.25 $2.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.27 Current fiscal year, 60 days ago: $2.23 Current fiscal year, 30 days ago: $2.23 Current fiscal year, 7 days ago: $2.23 Current fiscal year, Now: $2.20 $2.20 Next fiscal year, 90 days ago: $2.30 Next fiscal year, 60 days ago: $2.23 Next fiscal year, 30 days ago: $2.23 Next fiscal year, 7 days ago: $2.23 Next fiscal year, Now: $2.15 $2.15

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.27$2.30
60 days ago $2.23$2.23
30 days ago $2.23$2.23
7 days ago $2.23$2.23
Now $2.20$2.15

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.27 $0.27 +0.6%
Jun 2026 $1.33 $1.25 −6.4%
Mar 2026 $0.28 $0.32 +16.4%
Dec 2025 $2.30 $2.31 +0.4%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Trinity Industries Inc's revenue by +3.1% next year and +3.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+3.9%, weight 56%) and the company's own record (+2.0%, weight 44%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy00%
Hold2100%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 202622
  3. Aug 202622

Counts of recommendations published by analysts covering Trinity Industries Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.9%
of tradable shares
Days to cover
5.85
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
1.2%
of shares
Employees
6,110
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +16.1%

$26.28 on October 31, 2025 to $30.50

ThenNowEffect
Revenue (last 12 months) $2.5bn $2.0bn −18.9%
Net margin 3.8% 16.6% +333.9%
P/E multiple 22.9x 7.4x −67.7%
Share count 84m 82m +2.3%

Biggest factor: net margin.

Last 3 years +43.4%

$21.27 on November 3, 2023 to $30.50

ThenNowEffect
Revenue (last 12 months) $2.5bn $2.0bn −16.7%
Net margin 3.2% 16.6% +419.0%
P/E multiple 22.6x 7.4x −67.3%
Share count 83m 82m +1.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TRN+18%+2%−6%+37%−22%+20%
Industry peers (median)+11%−13%+36%+22%+11%+9%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TRN58%42%33%50%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TRN−23%−39%−30%−16%−40%−34%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 45% from October 9, 2018 to April 3, 2020. Getting back needed a 83% gain, reached on December 18, 2020, 259 days after the low.

Price behaviour

52-week range
$23.91 – $37.62
From 52-week high
−18.9%
vs 50-day average
+12.9%
vs 200-day average
−1.1%
Volatility (1 year)
37%
Beta vs S&P 500
0.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±9.2%
After a week
5 up, 6 down
typical move ±8.9%
After a month
5 up, 6 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +15.3% −2.1% — —
July 30, 2026 −14.9% +2.4% −15.6% −20.2%
April 30, 2026 +17.8% +1.3% +19.1% +3.8%
February 12, 2026 +10.7% −1.5% +10.4% −5.4%
October 30, 2025 −1.7% −0.8% −6.9% −5.2%
July 31, 2025 −3.3% −2.0% +9.4% +13.8%
May 1, 2025 −0.4% +2.2% −0.5% +1.2%
February 20, 2025 −11.7% −2.1% −9.4% −14.1%
October 31, 2024 −8.8% −1.5% +3.2% +5.4%
August 1, 2024 +2.8% −3.3% −0.7% −0.2%
May 1, 2024 +15.5% +0.6% +17.9% +20.9%
February 22, 2024 −7.3% +2.1% −4.3% −0.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Trinity Industries Inc in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Trinity Industries Inc
$2B $2.5B $3B $3.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3B Revenue (TTM), FY24 Q1: $3.2B Revenue (TTM), FY24 Q2: $3.3B Revenue (TTM), FY24 Q3: $3.2B Revenue (TTM), FY24 Q4: $3.1B Revenue (TTM), FY25 Q1: $2.9B Revenue (TTM), FY25 Q2: $2.5B Revenue (TTM), FY25 Q3: $2.2B Revenue (TTM), FY25 Q4: $2.2B Revenue (TTM), FY26 Q1: $2.1B Revenue (TTM), FY26 Q2: $2B Revenue (TTM), FY26 Q3: $2.1B $2.1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3B
FY24 Q1 $3.2B
FY24 Q2 $3.3B
FY24 Q3 $3.2B
FY24 Q4 $3.1B
FY25 Q1 $2.9B
FY25 Q2 $2.5B
FY25 Q3 $2.2B
FY25 Q4 $2.2B
FY26 Q1 $2.1B
FY26 Q2 $2B
FY26 Q3 $2.1B
Revenue growth, TTM YoY Trinity Industries Inc
-50% 0% 50% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 50.9% Revenue growth, TTM YoY, FY24 Q1: 46.8% Revenue growth, TTM YoY, FY24 Q2: 33.4% Revenue growth, TTM YoY, FY24 Q3: 17.0% Revenue growth, TTM YoY, FY24 Q4: 3.2% Revenue growth, TTM YoY, FY25 Q1: -9.4% Revenue growth, TTM YoY, FY25 Q2: -22.9% Revenue growth, TTM YoY, FY25 Q3: -33.0% Revenue growth, TTM YoY, FY25 Q4: -30.0% Revenue growth, TTM YoY, FY26 Q1: -27.7% Revenue growth, TTM YoY, FY26 Q2: -18.9% Revenue growth, TTM YoY, FY26 Q3: -2.4% -2.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 50.9%
FY24 Q1 46.8%
FY24 Q2 33.4%
FY24 Q3 17.0%
FY24 Q4 3.2%
FY25 Q1 -9.4%
FY25 Q2 -22.9%
FY25 Q3 -33.0%
FY25 Q4 -30.0%
FY26 Q1 -27.7%
FY26 Q2 -18.9%
FY26 Q3 -2.4%
Operating margin (TTM) Trinity Industries Inc
10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 14.0% Operating margin (TTM), FY24 Q1: 14.7% Operating margin (TTM), FY24 Q2: 15.5% Operating margin (TTM), FY24 Q3: 16.3% Operating margin (TTM), FY24 Q4: 16.0% Operating margin (TTM), FY25 Q1: 16.7% Operating margin (TTM), FY25 Q2: 17.0% Operating margin (TTM), FY25 Q3: 19.6% Operating margin (TTM), FY25 Q4: 30.1% Operating margin (TTM), FY26 Q1: 31.5% Operating margin (TTM), FY26 Q2: 37.0% Operating margin (TTM), FY26 Q3: 34.5% 34.5%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 14.0%
FY24 Q1 14.7%
FY24 Q2 15.5%
FY24 Q3 16.3%
FY24 Q4 16.0%
FY25 Q1 16.7%
FY25 Q2 17.0%
FY25 Q3 19.6%
FY25 Q4 30.1%
FY26 Q1 31.5%
FY26 Q2 37.0%
FY26 Q3 34.5%
FCF margin (TTM) Trinity Industries Inc
5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 8.5% FCF margin (TTM), FY24 Q1: 6.7% FCF margin (TTM), FY24 Q2: 12.8% FCF margin (TTM), FY24 Q3: 12.8% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 18.9% FCF margin (TTM), FY25 Q2: 14.4% FCF margin (TTM), FY25 Q3: 15.4% FCF margin (TTM), FY25 Q4: 14.6% FCF margin (TTM), FY26 Q1: 16.4% FCF margin (TTM), FY26 Q2: 16.8% FCF margin (TTM), FY26 Q3: 16.8% 16.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 8.5%
FY24 Q1 6.7%
FY24 Q2 12.8%
FY24 Q3 12.8%
FY24 Q4 16.9%
FY25 Q1 18.9%
FY25 Q2 14.4%
FY25 Q3 15.4%
FY25 Q4 14.6%
FY26 Q1 16.4%
FY26 Q2 16.8%
FY26 Q3 16.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 2,421 1,931 2,938 3,812 4,365 6,170 6,393 3,090 2,397 2,509 2,752 1,750 1,516 1,977 2,983 3,079 2,157 2,123
Gross profit 456 440 581 760 1,043 1,550 1,737 778 622 570 574 422 355 368 527 668 573 521
EBITDA 130 475 615 769 984 1,496 1,705 696 598 567 673 104 523 610 710 785 954 1,025
Operating income −31 294 427 575 773 1,251 1,439 479 368 315 397 −155 257 334 417 492 649 732
Net income −138 67 142 255 376 678 797 344 703 159 138 −147 182 60 106 138 253 327
Diluted EPS −$0.91 $0.42 $0.89 $1.59 $2.38 $4.19 $5.08 $2.25 $4.52 $1.07 $1.07 −$1.27 $1.75 $0.71 $1.27 $1.64 $3.05 $3.99
Growth (year on year)
Revenue −37.7% −20.2% +52.2% +29.7% +14.5% +41.3% +3.6% −51.7% −22.4% +4.7% +9.7% −36.4% −13.4% +30.4% +50.9% +3.2% −30.0% −2.4%
EBITDA −81.4% +265.7% +29.3% +25.1% +28.1% +51.9% +14.0% −59.2% −14.1% −5.2% +18.7% −84.6% +402.9% +16.8% +16.3% +10.6% +21.5% +41.3%
Operating income −105.5% — +45.1% +34.7% +34.5% +61.9% +15.0% −66.7% −23.1% −14.4% +25.9% −139.0% — +30.1% +24.9% +17.9% +32.1% +71.9%
Net income −149.0% — +111.0% +79.5% +47.1% +80.6% +17.4% −56.9% +104.5% −77.3% −13.6% −207.0% — −67.0% +76.4% +30.6% +82.9% +242.5%
Diluted EPS −152.5% — +108.2% +79.7% +49.7% +76.1% +21.2% −55.7% +100.9% −76.3% 0.0% −218.7% — −59.4% +78.9% +29.1% +86.0% +248.9%
Margins
Gross margin 18.8% 22.8% 19.8% 19.9% 23.9% 25.1% 27.2% 25.2% 26.0% 22.7% 20.9% 24.1% 23.4% 18.6% 17.7% 21.7% 26.6% 24.6%
EBITDA margin 5.4% 24.6% 20.9% 20.2% 22.6% 24.2% 26.7% 22.5% 24.9% 22.6% 24.5% 5.9% 34.5% 30.9% 23.8% 25.5% 44.2% 48.3%
Operating margin −1.3% 15.2% 14.5% 15.1% 17.7% 20.3% 22.5% 15.5% 15.4% 12.6% 14.4% −8.8% 16.9% 16.9% 14.0% 16.0% 30.1% 34.5%
Net margin −5.7% 3.5% 4.8% 6.7% 8.6% 11.0% 12.5% 11.1% 29.3% 6.3% 5.0% −8.4% 12.0% 3.0% 3.6% 4.5% 11.7% 15.4%
Free-cash-flow margin 13.1% 7.4% 2.2% 10.8% 11.7% 9.7% 11.6% 33.7% 30.9% 13.6% 11.1% 31.8% 38.8% −2.6% 8.5% 16.9% 14.6% 16.8%
Cash flow
Cash from operations 707 171 111 527 662 819 940 1,090 762 379 394 652 612 −13 296 574 360 410
Capital spending 390 27 48 117 150 219 196 50 22 37 88 96 24 38 41 54 46 54
Free cash flow 317 144 63 411 512 600 744 1,041 740 342 306 556 588 −51 254 520 314 357
Stock-based pay 14 14 23 28 45 53 61 31 22 29 28 25 21 23 23 24 23 23
Free cash flow after stock pay 303 129 41 383 468 547 683 1,010 718 313 278 530 568 −73 232 496 291 334
Balance sheet
Cash 612 354 351 573 429 888 982 742 779 179 166 132 167 80 106 228 201 158
Total debt 1,845 2,908 2,972 3,055 2,990 889 886 882 878 400 4,921 5,063 5,215 5,646 5,788 5,715 5,467 5,325
Net debt (negative = net cash) 1,233 2,554 2,621 2,482 2,561 1 −96 140 99 221 4,755 4,931 5,048 5,566 5,682 5,487 5,265 5,167
Diluted shares 153m 154m 156m 155m 153m 157m 152m 149m 152m 146m 127m 116m 104m 84m 83m 84m 83m 82m
Returned to shareholders
Dividends 25 25 27 32 39 54 65 67 73 77 82 92 89 77 86 93 99 100
Buybacks 6 0 0 45 103 37 115 35 79 506 225 191 833 52 0 21 71 54
Total returned 32 25 27 77 143 91 180 101 152 584 307 283 922 129 86 114 170 154

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 0 checks passed · September 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Trinity Industries Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$54.4M
Dividends (TTM)
$99.5M
Returned to shareholders
43%
of free cash flow
Buybacks, last 3 fiscal years
$92M
Diluted share count
−1.9%
year over year
Total shareholder yield
6.2%
dividends 4.0% + buybacks 2.2% of market value
Dividend payout ratio
31%
of net income paid out
Sales & admin spending
10.7%
of revenue

Competitors: side by side with peers

Closest by revenue in construction machinery & heavy transportation equipment
Last 12 months unless stated TRN MTW GBX FSS BLBD ASTE Median
Revenue, last 12 months $2.1bn $2.3bn $2.5bn $2.5bn $1.6bn $1.6bn $2.1bn
Revenue growth, last 12 months −2.4% 8.9% −24.0% 24.0% 13.5% 18.7% 10.1%
Revenue growth, 3-year average −8.6% 2.0% −14.5% 15.2% 14.0% 4.5% 4.3%
Revenue growth, latest quarter 17.8% 10.3% −22.2% 18.1% 29.9% 23.6% 17.8%
Gross margin 24.6% 18.7% 13.6% 29.1% 20.6% 25.7% 21.4%
Operating margin 34.5% 3.1% 5.8% 16.2% 11.8% 3.4% 5.9%
Operating margin, 3-year average 23.4% 2.5% 8.7% 15.7% 10.9% 3.2% 8.6%
Net margin 15.4% 0.9% 3.2% 11.7% 17.5% 1.3% 3.2%
Cash from operations / revenue 19.3% 4.8% 1.6% 15.8% 11.2% 5.2% 8.9%
Free-cash-flow margin 16.8% 3.0% −9.7% 14.3% 9.5% 2.1% 7.0%
Free-cash-flow margin, 3-year average 15.0% 0.3% −4.0% 12.0% 8.6% 1.7% 5.9%
Stock pay / revenue 1.1% 0.4% 0.6% 0.6% 0.5% 0.6% 0.6%
Change in share count −1.9% 2.3% −1.1% −0.1% −0.1% 1.2% −0.1%

Median of all 23 companies we cover in construction machinery & heavy transportation equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 construction machinery & heavy transportation equipment companies
Measure Company Peer median Rank
Revenue growth Growth -2.4% 10.1% 18 of 23
Change in growth rate Growth +16.6pp +4.6pp 3 of 23
Gross margin Profitability 24.6% 21.4% 11 of 23
Operating margin Profitability 34.5% 5.8% 1 of 21
Net margin Profitability 15.4% 3.2% 2 of 23
Free-cash-flow margin Cash generation 16.8% 7.0% 1 of 23
Stock pay as % of revenue Cash generation 1.1% 0.6% 16 of 20
Change in share count Balance sheet -1.9% -0.1% 5 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Railcar Leasing and Services Group $1.2B 55.9% ▲ 5.6%
Rail Products Group $952M 44.1% ▼ 50.9%
Products and services
Line of business Revenue Share YoY
Railcar Leasing and Services Group $1.2B 55.9% ▲ 5.6%
Manufacturing $952M 44.1% ▼ 50.9%

From Trinity Industries Inc's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.6B
Institutions reporting
340
Shares held vs prior quarter
▲ 6.9%
Positions opened / closed
44 / 26

Top buyers and sellers, Q2 2026: 161 institutions bought and 122 sold ; the biggest buyer was River Road Asset Management, LLC (+1.4M shares) and the biggest seller Granite Investment Partners, LLC (−382K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $462M 13.4M 17.5% ▲ 2.9%
Capital International Investors $199M 5.8M 7.5% ▲ 4.3%
Vanguard Portfolio Management LLC $196M 5.7M 7.4% ▲ 7.0%
Dimensional Fund Advisors LP $168M 4.9M 6.4% ▲ 1.1%
American Century Companies Inc $149M 4.3M 5.7% ▲ 19.8%
State Street Corp $143M 4.1M 5.4% ▲ 6.3%
Vanguard Capital Management LLC $124M 3.6M 4.7% ▼ 0.2%
Goldman Sachs Group Inc $88M 2.5M 3.3% ▲ 56.7%
Jennison Associates LLC $80.7M 2.3M 3.1% ▼ 4.5%
Geode Capital Management, LLC $70.7M 2.0M 2.7% ▲ 5.1%
Morgan Stanley $55.7M 1.6M 2.1% ▼ 5.3%
Mirae Asset Global Etfs Holdings Ltd. $52.1M 1.5M 2.0% ▲ 8.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Trinity Industries Inc's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $502,350 1 trade by 1 insider · 100% under pre-set plans
Net ▼ $502,350 net selling
Insider Date Trade Shares Price Value
Poet Kevin EVP Operations & Support Svcs August 25, 2026 Sell pre-set plan 17,000 $29.55 $502,350

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

No trades in Trinity Industries Inc disclosed in the last 12 months; 5 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded June 17, 2025, filed August 13, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 11, 2025, filed August 13, 2025
  • Pete Sessions(R-TX 32):Sale (full), $15,001 - $50,000, traded December 29, 2016, filed January 9, 2017

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 30, 2026
  • February 12, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Trinity Industries Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Trinity Industries Inc in brief

What does Trinity Industries Inc do?
Trinity Industries Inc is a US-listed company in the construction machinery & heavy transportation equipment industry. Its financial year ends in December.
What is Trinity Industries Inc's stock ticker?
Trinity Industries Inc trades under the ticker TRN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Trinity Industries Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Trinity Industries Inc reported revenue of $2.1B, 2.4% lower than a year earlier, according to its SEC filings.
What is Trinity Industries Inc's free cash flow?
Trinity Industries Inc's free-cash-flow margin is 16.8% of revenue over the trailing twelve months, ranking 1 of the 23 construction machinery & heavy transportation equipment companies we cover.
Who are Trinity Industries Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Capital International Investors and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Trinity Industries Inc buying back stock, and does it pay a dividend?
Trinity Industries Inc spent $54.4M on share repurchases over the trailing twelve months, and its diluted share count fell 1.9% over the year.
What is Trinity Industries Inc's market cap?
On November 2, 2026, Trinity Industries Inc's market capitalisation was about $2.5B, with a price-to-earnings ratio of 7.6 and net debt of $5.2B. Market figures come from third-party market data and may be delayed.
Does Trinity Industries Inc pay a dividend?
Yes: Trinity Industries Inc paid $99.5M in dividends over the trailing twelve months, a dividend yield of 4.03% and a payout ratio of 30.5%.
Who are Trinity Industries Inc's competitors?
In our Construction Machinery & Heavy Transportation Equipment peer group, the companies closest to Trinity Industries Inc are Manitowoc Co Inc, Greenbrier Companies Inc, Federal Signal Corp, Blue Bird Corp and Astec Industries Inc. The side-by-side comparison below sets their revenue, margins and growth against Trinity Industries Inc's.
Are insiders buying or selling Trinity Industries Inc stock?
Over the last 12 months, Trinity Industries Inc's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Trinity Industries Inc's next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Trinity Industries Inc announces its own schedule.