Is the business good?
How good a business is TRN?
Trinity Industries, Inc. earns 60% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
60%
Return on invested capital · cost of capital 9.0% · 51 points above what the capital costs: growth creates value
- Operating margin
- 37%
Operating margin · Railroads median 33% · 12 months to Q2 2026
- Cash conversion
- 1.01×
Cash conversion · 3.75× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −1.6%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −8.8% |
| FY2021 | 17% |
| FY2022 | 17% |
| FY2023 | 14% |
| FY2024 | 16% |
| FY2025 | 30% |
Details›
- Gross margin12 months to Q2 2026
- 26%
- Operating margin12 months to Q2 2026
- 37%
- Net margin12 months to Q2 2026
- 17%
- Free cash flow margin
- 17%
- Revenue, trailing twelve months
- $2.04B
- Free cash flow, trailing twelve months
- $343M
- Net income, trailing twelve months
- $339M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 60%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.