Forensic Analysis · Aerospace & Defense · as of Nov 9, 2026

Trinity Industries Inc (TRN)

A forensic read on Trinity Industries Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Clean

Earnings quality

Forensic signals

23.7%

ROE

-30.0%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Trinity Industries Inc earns a C (Mixed — selective) forensic quality grade. 2 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

109d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 88 to 109 FY2024→FY2025 (against cost of goods sold; inventory -1% vs -34% in cost of sales). Inventory did not fall as fast as cost of sales, so days on hand lengthened sharply — a flag for softening demand or obsolescence risk ahead.

7.6%

FY2025

Return on invested capital. Return on invested capital is 7.6% in the latest fiscal year and rising across FY2023–FY2025 from 5.6%. After-tax operating profit was $375M in FY2023 and $492M in FY2025, with operating income at 14.0% of revenue in FY2023, 16.0% in FY2024 and 30.1% in FY2025. The capital base behind it went from $6.7B in FY2023 to $6.4B in FY2025 (-4%), while the revenue it carried went from $3.0B to $2.2B.

Key fundamentals

Latest Revenue$2.16B

Revenue Growth YoY-30.0%

Revenue CAGR (2yr)-15.0%

Net Margin11.7%

Free Cash Flow$314.1M

Return on Equity23.7%

Debt / Equity5.05x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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