| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 91 | 6.9x | 17.8x | Top tier | |
Growth | 54 | -18.9% | 7.1% | Around median | |
Quality | 67 | 9.6% | 4.5% | Top tier | |
Safety | 31 | 4.8x | 2.6x | Bottom tier | |
Capital Return | 77 | 4.32% | 2.12% | Top tier | |
Momentum | 36 | 8.5% | 2.9% | Bottom tier | |
Sentiment | 47 | 2 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Trinity Industries operates through an integrated railcar platform that combines the manufacture of new railcars with their leasing, management, maintenance, and the sale of lease portfolios in the secondary market. As of June 30, 2026, its wholly owned fleet included 96,280 railcars, alongside 50,650 investor-owned railcars managed by the company; accordingly, earnings come from leasing and services margins, railcar manufacturing and deliveries, portfolio management, and gains realized when portfolios are sold or restructured. The company also acquired a 32% stake in TTRL in India in June 2026, but it does not expect the joint venture to make a material contribution to the income statement during fiscal year 2026.
In Q2 fiscal year 2026, Trinity reported revenue of $485.1 million, gross profit of $109.9 million, net income of $98.3 million, and earnings per share of $1.20 according to EDGAR data; equivalent to a gross margin of approximately 22.7% and a net income margin of approximately 20.3%. Management reported earnings of $1.25 per share from continuing operations, supported by a $132 million non-cash pre-tax gain from the Napier Park transaction, in addition to $8 million in gains from lease portfolio sales totaling $31 million.
The performance mix was clearly uneven in Q2 fiscal year 2026: the operating margin in Leasing and Services was 79.8% including the Napier Park gain, but 33% excluding that gain, while the Rail Products margin fell to 1.3%. Rail Products received orders for 1,560 railcars and delivered 1,570 railcars, ending the quarter with a $1.6 billion backlog, while the leasing business maintained fleet utilization of 97.3% and increased its renewal success rate to 75%. On a trailing twelve-month basis ending in 2026, the latest EDGAR data show revenue of $2.0 billion, gross profit of $535.9 million, net income of $317.9 million, and earnings per share of approximately $3.90.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus for TRN shares is “Neutral,” with a target of $36, and there is no difference between the highest and lowest targets because both are $36; therefore, the consensus reflects a single estimate rather than a broad range of scenarios. This target is approximately 6% below the 52-week range high of $38.31 and approximately 45% above the range low of $24.76, positioning the valuation between the strength of leasing indicators and the execution risks of a Rail Products margin recovery and uncertainty surrounding tank railcar orders.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Trinity Industries combines railcar manufacturing, leasing, maintenance, and the management of investor-owned fleets. As of June 30, 2026, the company wholly owned 96,280 railcars and managed 50,650 investor-owned railcars. The sale of lease portfolios and restructuring of partnerships add another source of returns, as demonstrated by the $132 million non-cash pre-tax Napier Park gain in Q2 fiscal year 2026.
Net income according to EDGAR was approximately $98.3 million and earnings per share were $1.20 in Q2 fiscal year 2026, while management reported earnings of $1.25 per share from continuing operations. The most prominent exceptional driver was a $132 million non-cash pre-tax gain from the Napier Park transaction, alongside $8 million in gains from lease portfolio sales. By contrast, Rail Products recorded a weak operating margin of 1.3%, so reported earnings alone do not reflect the underlying manufacturing performance.
The fleet maintained a utilization rate of 97.3% in Q2 fiscal year 2026. Contract renewal success increased to 75% from 60% in Q1 fiscal year 2026, while the future lease rate differential rose to 3.5% from 1.2%. The Leasing and Services margin was 33% after excluding the Napier Park gain, despite higher maintenance and depreciation costs and the impact of the smaller consolidated fleet.
The Rail Products operating margin was approximately 1.3% in Q2 fiscal year 2026, affected by an unplanned production stoppage in Longview and temporary expenses related to reorganizing manufacturing in Mexico. Management estimated the impact of these two factors at approximately 270 basis points, while the underlying margin was around 4% excluding them. The company expects higher deliveries in the second half of fiscal year 2026 and to maintain a full-year margin range of 5% to 6%, with the lower end more likely, while the Longview consolidation and automation project is expected to be completed in early 2027.
Management said on July 30, 2026 that uncertainty regarding Section 232 slowed tank railcar orders and that the greater impact relates to fiscal year 2027 decisions. Trinity submitted a formal ruling request to U.S. Customs and Border Protection to confirm its exemption, based on its railcars being manufactured in North America under USMCA, but it was still awaiting a response. The company says most of its contracts include escalation clauses that allow tariffs to be passed through, and the Longview facility can also produce tank railcars within the United States.
Trinity maintained fiscal year 2026 earnings-per-share guidance of $2.20 to $2.40 and Rail Products margin guidance of 5% to 6%. It slightly reduced the net leasing fleet investment range to between $300 and $400 million, with full-year gains expected between $160 and $180 million after recording $162 million since the beginning of fiscal year 2026. Management also expects approximately 25,000 railcars in industry deliveries during fiscal year 2026, with improved results depending on higher company deliveries in the second half.
