Short answer
TRINITY INDUSTRIES INC (TRN) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $2.2B (−30.0% year over year) and net income of $253M.
- Top risk flagged: Regulatory risk from U.S. tariffs under Section 232 and Section 301 affecting Mexico-manufactured railcar exports to U.S.
FY2025 key financial metrics · XBRL
- Revenue
- $2.2B
- −30.0% YoY
- Net income
- $253M
- +82.9% YoY
- Operating margin
- 30.1%
- +14.1 pp YoY
- EPS (diluted)
- $3.05
- +86.0% YoY
- ROE
- 23.5%
- +10.4 pp YoY
- Operating cash flow
- $360M
- −37.3% YoY
Source: XBRL data from the TRINITY INDUSTRIES INC (TRN) FY2025 10-K on SEC EDGAR. USD.
TRINITY INDUSTRIES INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: North American railcar products and services platform including leasing, manufacturing, maintenance, and logistics under TrinityRail brand
- New emphasis: Green Financing Framework updated in June 2025 with $4B in qualifying green railcar debt for sustainable financing
- Strategic shift: Acquisition of noncontrolling interest in RIV 2013 making it wholly-owned, and divestiture of Triumph Rail Holdings reallocating railcars between ownership and investor-owned categories
- Quantitative metric: Lease fleet of 101,485 railcars at 97.1% utilization; total managed railcars 146,270; workforce 6,110 employees split between U.S. (2,650) and Mexico (3,460)
- Noteworthy fact: All manufacturing and maintenance facilities plus corporate HQ certified to ISO 14001 and ISO 45001, emphasizing environmental and occupational health standards
Management Discussion & Analysis
- Revenue $2,156.9M in 2025, down 30.0% YoY from $3,079.2M due to lower Rail Products deliveries
- Operating profit $649.2M, up 32.1% YoY from $491.5M; operating margin improved to 30.1% from 15.9% (calculated as $649.2M/$2,156.9M vs $491.5M/$3,079.2M)
- Best performing segment: Railcar Leasing and Services with $1,206.6M revenue (+5.5%) and $708.4M operating profit (+52.7%); worst performing segment: Rail Products with $1,419.5M revenue (-41.6%) and $74.3M operating profit (-60.8%)
- Net cash from operations $366.9M vs $588.1M; net fleet investment $350.0M vs $181.2M; dividends paid $98.7M up from $93.2M; repurchased $71.3M stock, $157.7M authorization remaining
- Management increased quarterly dividend to $0.31 per share; highlights material cash requirements with $245M interest due next 12 months; flagged risk from lower Rail Products deliveries and workforce reduction costs
Risk Factors
- Regulatory risk from U.S. tariffs under Section 232 and Section 301 affecting Mexico-manufactured railcar exports to U.S.
- Geopolitical risk from Mexico operations exposure to political, legal, and trade instability impacting manufacturing and cross-border transportation
- Supply chain risk from reliance on limited suppliers for specialty railcar parts like brakes and wheels possibly causing production delays
- Competitive risk from aggressive industry rivalry impacting revenue and pricing; inability to sustain market leadership positions
- Financial risk from indebtedness with secured subsidiary assets potentially leading to foreclosure on default and restricted financial flexibility
Generated from the filing text; verify against the original. How to read a 10-K
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