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Forensic Analysis · Machinery & Fabricated Metal Products · as of Nov 8, 2026

Trimas Corp (TRS)

A forensic read on Trimas Corp 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
Safe
Financial health
2.6
Distress distance
Clean
Earnings quality
2
Forensic signals
17.5%
ROE
2.4%
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.

Trimas Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

3.1%
FY2025
Return on invested capital. Return on invested capital is 3.1% in the latest fiscal year, against 3.6% in FY2023, having run between 1.0% and 3.6% across FY2023–FY2025 with no direction held. After-tax operating profit was $42M in FY2023 and $37M in FY2025, with operating income at 7.8% of revenue in FY2023, 2.4% in FY2024 and 6.4% in FY2025. The capital base behind it went from $1.1B in FY2023 to $1.2B in FY2025 (+5%), while the revenue it carried went from $652M to $646M.
159% of FCF
FY2025
Shareholder returns. Returned $110M to shareholders (buybacks + dividends) in FY2025 — 159% of free cash flow. That is $41M (59%) more than free cash flow covered. New debt covered it: total debt rose $71M over FY2025, while cash rose $7M. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $12M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 176%.

Key fundamentals

Latest Revenue$645.7M
Revenue Growth YoY+2.4%
Revenue CAGR (2yr)-0.5%
Net Margin18.6%
Free Cash Flow$69.1M
Return on Equity17.5%
Debt / Equity0.66x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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