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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $972.1M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.5M 100.0% | $48.6M 100.0% | $96.0M 100.0% | $147.9M 100.0% | $143.0M 100.0% | $85.8M 100.0% | $84.0M 100.0% | $83.0M 100.0% | $37.4M 100.0% | $16.4M 100.0% |
| Cost of Revenue | $57.4M 96.4% | $44.3M 91.2% | $88.1M 91.8% | $131.9M 89.2% | $108.9M 76.1% | $71.0M 82.7% | $69.5M 82.7% | $64.1M 77.2% | $33.2M 88.8% | $15.8M 96.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $33.2M 88.8% | $15.8M 96.2% |
| Gross Profit | $2.2M 3.6% | $4.3M 8.8% | $7.9M 8.2% | $16.0M 10.8% | $34.1M 23.9% | $14.8M 17.3% | $14.5M 17.3% | $18.9M 22.8% | $4.2M 11.2% | $618K 3.8% |
| Selling, General & Admin | $107.3M 180.3% | $91.2M 187.5% | $88.8M 92.5% | $93.0M 62.9% | $89.3M 62.5% | $80.5M 93.9% | $75.9M 90.3% | $80.0M 96.4% | $87.6M 234.1% | $65.6M 399.7% |
| Total Operating Expenses | $559.8M 940.6% | $724.9M 1490.3% | $841.6M 876.7% | $767.1M 518.8% | $739.9M 517.6% | $719.1M 838.3% | $691.7M 823.5% | $673.4M 810.9% | $657.1M 1756.0% | $11.0M 66.9% |
| Operating Income | $817.4M 1373.5% | $826.6M 1699.6% | $768.7M 800.8% | $1.04B 706.2% | $935.1M 654.1% | $641.4M 747.7% | $697.2M 830.0% | $752.2M 905.8% | $546.4M 1460.3% | $176.3M 1073.7% |
| Interest Expense | $263.5M 442.8% | $259.9M 534.5% | $240.8M 250.9% | $226.1M 152.9% | $222.0M 155.3% | $253.0M 294.9% | $316.2M 376.4% | $322.7M 388.6% | $282.3M 754.6% | $184.0M 1120.8% |
| Other Income (Expense), net | -$263.5M -442.8% | -$259.7M -533.9% | -$240.2M -250.2% | -$226.5M -153.2% | -$354.5M -248.0% | -$273.3M -318.7% | -$316.3M -376.6% | -$324.9M -391.2% | -$286.2M -764.8% | -$182.1M -1109.2% |
| Pretax Income | $553.9M 930.7% | $567.0M 1165.8% | $528.6M 550.6% | $817.7M 553.0% | $580.6M 406.1% | $368.0M 429.0% | $380.8M 453.4% | $427.3M 514.6% | $260.3M 695.5% | -$13.5M -82.3% |
| Income Tax Expense | $45.5M 76.4% | $48.8M 100.3% | $54.5M 56.7% | $70.8M 47.9% | $50.4M 35.2% | $38.2M 44.6% | $27.6M 32.8% | $70.6M 85.1% | -$93.3M -249.3% | -$48K -0.3% |
| Net Income | $508.4M 854.3% | $518.2M 1065.4% | $474.1M 493.9% | $746.9M 505.1% | $530.2M 370.9% | $329.8M 384.4% | $353.3M 420.6% | $356.7M 429.5% | $353.5M 944.8% | -$5.8M -35.2% |
| Per Share | ||||||||||
| EPS (Basic) | — | — | — | $11.25 | $7.26 | $4.18 | $4.57 | $4.38 | $4.55 | -$0.24 |
| EPS (Diluted) | — | — | — | $11.19 | $7.22 | $4.16 | $4.54 | $4.35 | $4.52 | -$0.24 |
| Weighted Avg Shares (Basic) | — | — | — | 61.8M | 66.7M | 69.1M | 74.2M | 79.8M | 75.7M | 56.0M |
| Weighted Avg Shares (Diluted) | — | — | — | 62.1M | 67.1M | 69.3M | 74.7M | 80.4M | 76.2M | 56.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $40.3M is below the $993.7M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.0% on $6.61B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
No current price collected.
Where each multiple sits in its own 7-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 20% against ROIC 6% — 14% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 77.2 | 82.7 | 82.7 | 76.1 | 89.2 | 91.8 | 91.2 | 96.4 |
| Gross Profit | 22.8 | 17.3 | 17.3 | 23.9 | 10.8 | 8.2 | 8.8 | 3.6 |
| SG&A | 96.4 | 90.3 | 93.9 | 62.5 | 62.9 | 92.5 | 187.5 | 180.3 |
| Operating Income | 905.8 | 830.0 | 747.7 | 654.1 | 706.2 | 800.8 | 1699.6 | 1373.5 |
| Income Tax | 85.1 | 32.8 | 44.6 | 35.2 | 47.9 | 56.7 | 100.3 | 76.4 |
| Net Income | 429.5 | 420.6 | 384.4 | 370.9 | 505.1 | 493.9 | 1065.4 | 854.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TRTN-PA: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.