Trinity Industries, Inc. (TRN) Key Metrics
TRN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.01B
- Enterprise value
- $7.29B
- P/E (TTM)
- 5.9 10-yr median 18.9
- Forward P/E
- 20.1
- PEG ratio
- 0.69
- Price / sales
- 1.0 10-yr median 1.1
- Price / book
- 1.9 10-yr median 1.8
- EV / EBITDA
- 6.9 10-yr median 11.1
- Dividend yield
- 4.92% $1.24 a year
- Beta
- 1.35
TRN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTRN valuation Price multiples at each fiscal year-end price.
TRN returns How much profit the business earns on the capital it uses.
TRN per-share figures Results divided by the shares outstanding at year-end.
TRN financial health Debt, liquidity and how easily interest is covered.
TRN efficiency & capital use Working capital cycle and where the cash goes.
TRN valuation history
TRN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TRN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TRN cash returned to shareholders
TRN price vs earnings per share
TRN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.19B | $2.96B | $2.22B | $2.49B | $3.13B | $3.06B | $2.82B | $3.01B | $4.10B | $2.97B |
| Enterprise value | $7.43B | $8.39B | $7.85B | $7.92B | $8.37B | $7.99B | $7.56B | $6.88B | $6.26B | $5.25B |
| P/E ratio | 8.7 | 21.4 | 20.9 | 41.4 | 17.2 | — | 20.5 | 18.9 | 5.8 | 8.6 |
| Price / sales | 1.0 | 1.0 | 0.7 | 1.3 | 2.1 | 1.7 | 1.0 | 1.2 | 1.1 | 0.6 |
| Price / book | 2.0 | 2.8 | 2.1 | 2.5 | 2.4 | 1.5 | 1.2 | 1.2 | 0.8 | 0.7 |
| Price / free cash flow | — | — | — | — | 76.5 | — | — | — | 83.8 | 18.9 |
| Price / operating cash flow | 6.1 | 5.2 | 7.5 | — | 5.1 | 4.7 | 7.2 | 8.0 | 5.4 | 2.7 |
| EV / sales | 3.4 | 2.7 | 2.6 | 4.0 | 5.5 | 4.6 | 2.7 | 2.7 | 1.7 | 1.1 |
| EV / EBITDA | 7.8 | 10.6 | 11.1 | 12.9 | 16.3 | — | 11.3 | 11.8 | 10.3 | 5.1 |
| EV / free cash flow | — | — | — | — | 204.1 | — | — | — | 128.1 | 33.5 |
| Earnings yield | 11.5% | 4.7% | 4.8% | 2.4% | 5.8% | −4.8% | 4.9% | 5.3% | 17.1% | 11.6% |
| Free cash flow yield | −19.9% | −0.7% | −18.7% | −39.3% | 1.3% | −1.7% | −29.3% | −20.1% | 1.2% | 5.3% |
| Dividend yield | 4.5% | 3.2% | 3.9% | 3.1% | 2.8% | 3.0% | 2.9% | 2.6% | 1.8% | 2.2% |
| Shareholder yield (dividends + buybacks) | 8.2% | 4.2% | 4.2% | 5.2% | 29.4% | 9.3% | 10.9% | 19.8% | 4.1% | 4.0% |
| Share price at fiscal year-end | $26.44 | $35.10 | $26.59 | $29.57 | $30.20 | $26.39 | $22.15 | $20.59 | $26.97 | $19.99 |
| Per share | ||||||||||
| Revenue per share | $26.02 | $36.57 | $35.77 | $23.48 | $14.61 | $15.10 | $21.62 | $17.14 | $24.10 | $30.88 |
| Earnings per share | $3.05 | $1.64 | $1.27 | $0.71 | $1.75 | −$1.27 | $1.08 | $1.09 | $4.62 | $2.31 |
| Operating cash flow per share | $4.34 | $6.81 | $3.54 | −$0.15 | $5.89 | $5.62 | $3.09 | $2.59 | $5.01 | $7.34 |
| Free cash flow per share | −$5.25 | −$0.26 | −$4.97 | −$11.63 | $0.39 | −$0.46 | −$6.49 | −$4.14 | $0.32 | $1.06 |
| Cash per share | $2.43 | $4.45 | $2.82 | $3.50 | $1.61 | $1.14 | $1.31 | $1.22 | $7.22 | $5.37 |
| Book value per share | $12.99 | $12.58 | $12.44 | $12.02 | $12.49 | $17.39 | $18.69 | $17.50 | $31.96 | $29.01 |
| Tangible book value per share | $8.99 | $8.77 | $8.50 | $9.70 | $11.01 | $15.59 | $16.90 | $16.07 | $21.20 | $18.33 |
| Dividends per share | $1.19 | $1.11 | $1.03 | $0.91 | $0.85 | $0.79 | $0.64 | $0.53 | $0.48 | $0.45 |
| Capex per share | $9.59 | $7.07 | $8.51 | $11.48 | $5.50 | $6.08 | $9.58 | $6.73 | $4.69 | $6.28 |
| Debt per share | $65.65 | $68.93 | $70.41 | $67.96 | $52.04 | $43.68 | $38.57 | $27.64 | $21.47 | $20.73 |
| Shares outstanding | 82.9M | 84.2M | 83.4M | 84.2M | 103.8M | 115.9M | 127.3M | 146.4M | 152.0M | 148.6M |
| Change in shares outstanding | −1.5% | +1.0% | −1.0% | −18.9% | −10.4% | −9.0% | −13.0% | −3.7% | +2.3% | −2.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 23.7% | 13.2% | 10.3% | 5.2% | 11.0% | −6.7% | 5.6% | 4.3% | 15.3% | 8.2% |
| Return on invested capital (ROIC) | 4.2% | 5.8% | 6.0% | 4.0% | 2.7% | −1.7% | 4.0% | 3.4% | 8.1% | 7.4% |
| Return on assets (ROA) | 2.9% | 1.6% | 1.2% | 0.7% | 2.1% | −1.7% | 1.6% | 1.8% | 7.5% | 3.8% |
| Return on tangible assets | 3.1% | 1.6% | 1.2% | 0.7% | 2.3% | −1.7% | 1.6% | 2.0% | 8.9% | 4.6% |
| Free cash flow margin | −20.2% | −0.7% | −13.9% | −49.5% | 2.7% | −3.0% | −30.0% | −24.2% | 1.3% | 3.4% |
| Income quality (OCF / net income) | 1.42 | 4.15 | 2.79 | −0.21 | 3.36 | — | 2.86 | 2.38 | 1.08 | 3.17 |
| Financial health | ||||||||||
| Total debt | $5.44B | $5.80B | $5.87B | $5.72B | $5.40B | $5.06B | $4.91B | $4.05B | $3.26B | $3.08B |
| Cash & short-term investments | $201.3M | $374.4M | $235.1M | $294.3M | $167.3M | $132.0M | $166.2M | $179.2M | $1.10B | $798.1M |
| Net debt | $5.24B | $5.43B | $5.64B | $5.43B | $5.23B | $4.93B | $4.74B | $3.87B | $2.16B | $2.28B |
| Debt / equity | 5.05 | 5.48 | 5.66 | 5.65 | 4.17 | 2.51 | 2.06 | 1.58 | 0.67 | 0.71 |
| Debt / assets | 0.65 | 0.66 | 0.66 | 0.66 | 0.66 | 0.58 | 0.56 | 0.51 | 0.34 | 0.34 |
| Net debt / EBITDA | 5.49 | 6.88 | 7.97 | 8.87 | 10.22 | — | 7.06 | 6.61 | 3.55 | 2.22 |
| Current ratio | 2.12 | 0.85 | 1.01 | 1.59 | 1.88 | 2.54 | 1.81 | 2.05 | 3.79 | 3.65 |
| Quick ratio | 1.30 | 0.52 | 0.47 | 0.79 | 1.04 | 1.85 | 1.01 | 1.15 | 2.75 | 2.50 |
| Interest coverage | 1.3 | 1.8 | 1.6 | 1.6 | 1.3 | -0.7 | 1.8 | 1.8 | 3.0 | 4.1 |
| Working capital | $638.5M | −$212.7M | $7.3M | $464.4M | $454.5M | $723.3M | $439.8M | $612.1M | $1.72B | $1.54B |
| Invested capital | $6.32B | $6.49B | $6.67B | $6.44B | $6.53B | $6.95B | $7.12B | $6.43B | $7.02B | $6.59B |
| Tangible asset value | $813.4M | $986.7M | $947.3M | $1.07B | $1.14B | $1.81B | $2.15B | $2.35B | $3.22B | $2.72B |
| Net current asset value | −$6.07B | −$6.29B | −$6.34B | −$6.20B | −$5.97B | −$5.49B | −$5.34B | −$4.23B | −$2.35B | −$2.69B |
| Graham number | $29.88 | $21.57 | $18.86 | $13.90 | $22.20 | — | $21.32 | $20.70 | $57.65 | $38.85 |
| Graham net-net per share | −$78.78 | −$78.70 | −$81.26 | −$78.35 | −$61.47 | −$50.99 | −$45.04 | −$32.43 | −$19.52 | −$22.36 |
| Capital allocation | ||||||||||
| Dividends paid | $98.7M | $93.2M | $86.0M | $76.9M | $88.5M | $91.7M | $82.1M | $77.4M | $72.6M | $66.7M |
| Share buybacks (net) | $80.0M | $29.7M | $7.2M | $51.8M | $833.4M | $191.3M | $224.7M | $518.3M | $93.8M | $51.0M |
| Dividend payout ratio | 39.0% | 67.3% | 81.1% | 128.0% | 48.6% | — | 59.7% | 48.6% | 10.3% | 19.4% |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | — | 340.3% | 75.1% |
| Capex / revenue | 36.9% | 19.3% | 23.8% | 48.9% | 37.7% | 40.3% | 44.3% | 39.3% | 19.5% | 20.3% |
| Capex / operating cash flow | 221.0% | 103.8% | 240.2% | — | 93.3% | 108.1% | 309.8% | 260.0% | 93.6% | 85.6% |
| Capex / depreciation | 2.61 | 2.03 | 2.42 | 3.50 | 2.15 | 2.65 | 4.30 | 3.91 | 3.10 | 3.30 |
| Stock-based compensation / revenue | 1.1% | 0.8% | 0.8% | 1.1% | 1.4% | 1.5% | 1.1% | 1.2% | 0.8% | 0.9% |
| SG&A / revenue | 9.9% | 7.7% | 6.8% | 9.4% | 11.8% | 19.5% | 7.9% | 11.8% | 12.4% | 8.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 67.5 | 44.5 | 42.8 | 52.1 | 105.7 | 95.9 | 39.2 | 52.1 | 43.8 | 37.6 |
| Days of inventory on hand | 108.9 | 87.8 | 97.6 | 120.4 | 118.5 | 103.7 | 80.3 | 109.7 | 86.8 | 85.0 |
| Days payables outstanding | 60.1 | 42.2 | 44.0 | 56.0 | 57.0 | 49.5 | 34.9 | 36.5 | 22.0 | 19.7 |
| Cash conversion cycle (days) | 116.4 | 90.1 | 96.4 | 116.5 | 167.2 | 150.1 | 84.7 | 125.3 | 108.6 | 102.9 |
| Receivables turnover | 5.41 | 8.21 | 8.52 | 7.01 | 3.45 | 3.81 | 9.30 | 7.01 | 8.33 | 9.70 |
| Payables turnover | 6.08 | 8.66 | 8.29 | 6.52 | 6.40 | 7.37 | 10.47 | 10.01 | 16.56 | 18.54 |
| Inventory turnover | 3.35 | 4.16 | 3.74 | 3.03 | 3.08 | 3.52 | 4.55 | 3.33 | 4.20 | 4.30 |
| Asset turnover | 0.25 | 0.35 | 0.34 | 0.23 | 0.18 | 0.20 | 0.33 | 0.29 | 0.39 | 0.51 |
| Average receivables | $399.1M | $375.1M | $350.0M | $282.1M | $438.9M | $459.8M | $295.9M | $357.9M | $439.8M | $472.8M |
| Average payables | $260.6M | $278.5M | $296.4M | $246.9M | $181.4M | $180.2M | $208.0M | $193.8M | $165.8M | $186.4M |
| Average inventory | $472.6M | $580.2M | $656.9M | $531.1M | $377.1M | $377.3M | $479.1M | $582.6M | $653.2M | $804.5M |
| Intangibles / total assets | 3.9% | 3.6% | 3.7% | 2.2% | 1.9% | 2.4% | 2.6% | 2.6% | 17.1% | 17.4% |
Computed from TRN's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TRN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Trinity Industries traded at 8.7 times earnings, against a 10-year median of 18.9. Based on the latest twelve months, the trailing P/E is 5.9 and the forward P/E is 20.1. Trinity Industries earned a return on equity of 23.7% and a return on invested capital of 4.2% in fiscal 2025. It ended the year with $5.4 billion of debt and $201.3 million in cash and short-term investments, net debt of $5.2 billion. It returned $178.7 million to shareholders: $98.7 million in dividends and $80.0 million in share buybacks. The share count fell 44.2% from 148.6M to 82.9M over 9 years.
See the TRN income statement, the TRN chart for price history, or the TRN stock overview for the latest quote and news.
TRN key metrics FAQ
What is Trinity Industries's P/E ratio?
Trinity Industries's trailing P/E ratio is 5.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 20.1. At the end of fiscal 2025 it was 8.7, compared with a 10-year median of 18.9.
What is Trinity Industries's EV/EBITDA?
Trinity Industries's enterprise value was 7.8 times EBITDA at the end of fiscal 2025 (enterprise value $7.4 billion, EBITDA $954.7 million); the current EV/EBITDA is 6.9.
What is Trinity Industries's return on equity?
Trinity Industries's return on equity (ROE) was 23.7% in fiscal 2025: net income of $253.1 million on average shareholders' equity of $1.1 billion.
What is Trinity Industries's ROIC?
Trinity Industries's return on invested capital was 4.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Trinity Industries have?
Trinity Industries had total debt of $5.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 5.05 and $5.2 billion of net debt (5.49 times EBITDA).
What is Trinity Industries's dividend yield?
Trinity Industries's forward dividend yield is 4.92%. Trinity Industries paid $98.7 million in dividends in fiscal 2025 ($1.19 per share), a payout ratio of 39.0%.
Does Trinity Industries buy back its shares?
Yes. Trinity Industries spent $80.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.5% over the year, to 82.9M..
What is Trinity Industries's free cash flow yield?
Trinity Industries generated -$435.2 million of free cash flow in fiscal 2025, a free cash flow yield of −19.9% on its market value at year-end ($2.2 billion).
What is Trinity Industries's current ratio?
Trinity Industries's current ratio was 2.12 at the end of fiscal 2025: current assets were 2.12 times current liabilities.