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Trinity Industries cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$49.6M in Q3 2026 · $357M over twelve months

Operating cash flow$66.3M
Capital spending−$16.7M
Free cash flow+$49.6M
Cash / net income3.8×

Analysis

In Q3 2026, Trinity Industries generated $66.3M of operating cash flow and spent $16.7M on capital projects, leaving free cash flow of $49.6M. That is $14.3M more than in Q3 2025 ($35.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $410M; the largest uses were other financing ($1.3B), other investing ($224M), dividends ($99.5M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.4B); the cash balance rose by $39.3M.

Operating cash flow was $66.3M against net income of $17.5M — 3.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$70.5M, gains on disposals −$23.9M, receivables −$19.7M.

Free cash flow

Trinity Industries: free cash flow by quarterTrinity Industries: free cash flow by quarter$180MQ4 2024$67.3MQ1 2025$52.9MQ2 2025$35.3MQ3 2025$159MQ4 2025$91.5MQ1 2026$57.2MQ2 2026$49.6MQ3 2026
Operating cash flow less capital spending.
Trinity Industries: operating cash flow against capital spendingTrinity Industries: operating cash flow against capital spendingOperating cash flowCapital spending$202M$21.5MQ4 2024$76.5M$9.2MQ1 2025$61.6M$8.7MQ2 2025$44.2M$8.9MQ3 2025$177M$18.8MQ4 2025$97.8M$6.3MQ1 2026$68.9M$11.7MQ2 2026$66.3M$16.7MQ3 2026
Latest (Q3 2026): Operating cash flow $66.3M, Capital spending $16.7M.

Capital allocation, year by year

Trinity Industries: where the cash came from (up) and went (down), by fiscal yearTrinity Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $612MFY2021: Net borrowing $128MFY2021: Asset sales $375MFY2021: Capital spending −$571MFY2021: Acquisitions −$16.6MFY2021: Buybacks −$833MFY2021: Dividends −$88.5M$1.1BFY2021FY2022: Operating cash flow −$12.8MFY2022: Net borrowing $422MFY2022: Capital spending −$967MFY2022: Acquisitions −$80.4MFY2022: Buybacks −$51.8MFY2022: Dividends −$76.9M$422MFY2022FY2023: Operating cash flow $296MFY2023: Net borrowing $134MFY2023: Asset sales $4.4MFY2023: Capital spending −$710MFY2023: Acquisitions −$62.2MFY2023: Dividends −$86.0M$434MFY2023FY2024: Operating cash flow $574MFY2024: Net borrowing −$80.1MFY2024: Capital spending −$53.8MFY2024: Buybacks −$20.7MFY2024: Dividends −$93.2M$574MFY2024FY2025: Operating cash flow $360MFY2025: Net borrowing $180MFY2025: Capital spending −$45.6MFY2025: Buybacks −$71.3MFY2025: Dividends −$98.7M$540MFY2025
Over these 5 years operating cash flow totalled $1.8B; the largest uses were capital spending ($2.3B) and buybacks ($977M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$158M
Debtnone
Net cash$158M
Due within a year$1.1B

Trinity Industries funds itself: free cash flow was $357M over the last twelve months, with $158M of cash and investments and no debt on the balance sheet ($1.1B due within a year, 0.1× covered by cash).

Trinity Industries: debt maturities by year (FY2025)Trinity Industries: debt maturities by year (FY2025)$1.1BYear 1$680MYear 2$1.7BYear 3$259MYear 4$938MYear 5$813MAfter year 5
Principal due in each year as disclosed in the annual report, against $158M of cash and investments now.

Where the cash came from and went

Trinity Industries: sources (+) and uses (−) of cash, Q3 2026Trinity Industries: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$96.7MOther investing−$91.6MOperating cash flow$66.3MDividends−$24.9MBuybacks−$21.7MCapital spending−$16.7MCash drawn (+) / kept (−)−$8.1M
Trinity Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Trinity Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$1.4BOther financing−$1.3BOperating cash flow$410MOther investing−$224MDividends−$99.5MBuybacks−$54.4MCapital spending−$53.5MCash drawn (+) / kept (−)−$39.3MTaxes on employees’ shares−$9.6MPartners−$7.8M

From profit to cash

Trinity Industries: net income to operating cash flow, Q3 2026Trinity Industries: net income to operating cash flow, Q3 2026Net income$17.5MDepreciation & amortization$70.5MStock-based pay$6.3MDeferred taxes$11.7MGains on disposals−$23.9MOther non-cash−$900KReceivables−$19.7MInventory$1.8MPayables$18.0MAccrued liabilities−$4.8MPrepaid and other assets−$5.0MOther liabilities−$500KOperating cash flow$66.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$66.3M−$16.7M−$21.7M−$24.9M$96.7M−$8.1M$49.6M
Q2 2026$68.9M−$11.7M−$13.1M−$25.7M−$441M−$17.3M$57.2M
Q1 2026$97.8M−$6.3M−$7.2M−$24.8M−$62.2M$71.0M$91.5M
Q4 2025$177M−$18.8M−$12.4M−$24.1M$660M−$84.9M$159M
Q3 2025$44.2M−$8.9M−$19.9M−$24.2M$84.8M$76.6M$35.3M
Q2 2025$61.6M−$8.7M−$30.8M−$25.8M$237M−$80.2M$52.9M
Q1 2025$76.5M−$9.2M−$8.2M−$24.6M−$77.3M$139M$67.3M
Q4 2024$202M−$21.5M−$13.8M−$23.1M$208M−$42.0M$180M

Trinity Industries: income statement and cash flow

Trinity Industries, Q3 2026: revenue $535M (+18% year over year), operating margin 17.9%. The chart follows the revenue to costs, profit and cash.

Trinity Industries: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.