$26.13

+0.33 (+1.28%)

Weekly Expected Move ±3.2%

$24 $25 $26 $27 $28

NYSE · Industrials · Railroads · Tech Score Sell · Power 34 · $2.1B mcap · 78M float · 0.950% daily turnover · Short 61% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

38.6 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 4.1% · 5Y Avg: 6.7%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. TRN has No discernible competitive edge (38.6/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 4.1% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$31

Avg Target

$31

High

Based on 6 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 12Sell: 4Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$30.83

Analysts6

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-04-30	Goldman Sachs	—	$33	$36	+3	+10.4%	$32.61
2026-02-13	Susquehanna	—	$28	$34	+6	-1.7%	$34.58
2026-02-12	Goldman Sachs	—	$31	$33	+2	-4.6%	$34.58
2026-01-26	Susquehanna	Bascome Majors	$23	$28	+5	+2.4%	$27.35
2025-10-31	Goldman Sachs	—	Initiated	$31	—	+13.1%	$27.41
2025-10-31	Susquehanna	Bascome Majors	$24	$23	-1	-14.7%	$26.96
2025-04-22	Susquehanna	—	$35	$24	-11	-2.8%	$24.70
2024-10-21	Susquehanna	Bascome Majors	Initiated	$35	—	-1.0%	$35.34
2022-12-01	Wells Fargo	—	$33	$34	+1	+11.0%	$30.63
2022-07-28	Wells Fargo	—	Initiated	$33	—	+32.4%	$24.93
2022-07-28	Stephens	—	Initiated	$27	—	+8.3%	$24.93

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A-

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TRN receives an overall rating of A-. Strongest factors: ROE (5/5), ROA (5/5), P/E (4/5). Areas of concern: D/E (1/5), P/B (2/5).

Rating Change History

Date	From	To
2026-10-01	B	A-
2026-08-14	B+	B
2026-07-31	C+	B+
2026-07-30	B+	C+
2026-04-30	C+	B+
2026-04-30	B+	C+
2026-02-17	C-	B+
2026-02-13	C+	C-
2026-01-03	B-	C+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 36 Grade C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. TRN scores highest in Value (85/100) and lowest in Safety (15/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

1.07

Distress Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✓ ✓ ✗ ✓ ✗ ✗

Beneish M-Score

-2.32

Unlikely Manipulator

Ohlson O-Score

-5.98

Bankruptcy prob: 0.3%

Low Risk

Credit Rating

Score: 27.9/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 1.13x

Accruals: -0.5%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. TRN scores 1.07, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TRN scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. TRN's score of -2.32 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TRN's implied 0.3% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TRN receives an estimated rating of B (score: 27.9/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). TRN's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

6.08x

PEG

0.02x

P/S

1.02x

P/B

1.82x

P/FCF

-8.03x

P/OCF

7.27x

EV/EBITDA

7.56x

EV/Revenue

3.86x

EV/EBIT

10.61x

EV/FCF

-22.47x

Earnings Yield

12.17%

FCF Yield

-12.45%

Shareholder Yield

5.70%

Graham Number

$36.41

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 6.1x earnings, TRN trades at a deep value multiple. An earnings yield of 12.2% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $36.41 per share, suggesting a potential 39% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.712

NI / EBT

Interest Burden

0.648

EBT / EBIT

EBIT Margin

0.364

EBIT / Rev

Asset Turnover

0.240

Rev / Assets

Equity Multiplier

7.918

Assets / Equity

ROE

31.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TRN's ROE of 31.9% is driven by financial leverage (equity multiplier: 7.92x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

15.00%

Fair P/E

38.50x

Intrinsic Value

$161.97

Price/Value

0.21x

Margin of Safety

78.65%

Premium

-78.65%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with TRN's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. TRN actually compounded EPS at 64.7% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. At an intrinsic value of $161.97, TRN appears undervalued with a 79% margin of safety. The adjusted fair P/E of 38.5x compares to the current market P/E of 6.1x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$26.12

Median 1Y

$26.14

5th Pctile

$13.69

95th Pctile

$49.90

Ann. Volatility

38.7%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
E. Jean Savage Chief Executive Officer and President	$1,000,000	$4,280,635	$7,480,164
Eric R. Marchetto Executive Vice President and Chief Financial Officer	$635,576	$1,122,404	$2,738,240
Gregory B. Mitchell Former Executive Vice President, Leasing and Services	$549,016	$783,050	$2,009,626
Kevin Poet President, Vice President, Operations and Support Services	$550,231	$783,050	$1,998,802
Scott M. Ewing Executive Vice President and Chief Legal Officer	$460,782	$548,177	$1,572,859

CEO Pay Ratio

92:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $7,480,164

Avg Employee Cost (SGA/emp): $80,868

Employees: 2,650

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

2,650

-8.3% YoY

Revenue / Employee

$813,925

Rev: $2,156,900,000

Profit / Employee

$95,509

NI: $253,100,000

SGA / Employee

$80,868

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-5.0%	13.1%	13.1%	14.2%	13.9%	5.9%	6.4%	7.9%	7.4%	10.3%	12.3%	15.8%	16.7%	13.2%	13.0%	9.3%	9.3%	23.7%	23.9%	31.9%	31.90%
ROA	-0.9%	2.1%	2.1%	2.0%	1.9%	0.7%	0.8%	0.9%	0.8%	1.2%	1.4%	1.8%	1.9%	1.6%	1.5%	1.1%	1.1%	2.9%	3.0%	4.0%	4.03%
ROIC	2.8%	2.3%	2.9%	2.7%	3.1%	4.1%	4.6%	5.0%	5.2%	5.9%	5.6%	6.3%	6.4%	5.8%	5.7%	5.2%	5.2%	4.8%	4.5%	4.1%	4.10%
ROCE	0.7%	2.9%	2.8%	3.1%	3.3%	3.5%	3.5%	3.7%	3.8%	5.4%	5.5%	6.1%	6.4%	6.7%	6.0%	5.2%	5.1%	8.2%	8.2%	9.7%	9.68%
Gross Margin	19.6%	14.3%	15.7%	21.9%	20.4%	17.1%	16.1%	16.8%	17.3%	20.2%	20.2%	21.3%	21.2%	24.6%	24.3%	26.4%	31.1%	25.0%	26.2%	22.7%	22.66%
Operating Margin	18.7%	15.3%	11.6%	17.5%	18.7%	19.2%	10.8%	13.7%	12.2%	18.6%	13.7%	16.9%	15.3%	17.8%	17.0%	18.8%	26.1%	13.6%	15.9%	12.1%	12.12%
Net Margin	7.6%	55.3%	-0.1%	0.9%	5.2%	5.3%	0.7%	2.4%	2.7%	7.9%	2.9%	6.5%	3.9%	4.6%	3.8%	2.8%	6.7%	30.5%	4.9%	21.1%	21.07%
EBITDA Margin	35.2%	41.0%	26.1%	33.9%	32.8%	20.9%	22.0%	23.6%	21.2%	27.8%	22.9%	26.0%	24.6%	29.9%	17.0%	33.4%	42.9%	66.4%	35.2%	55.7%	55.72%
FCF Margin	3.7%	3.3%	1.6%	-34.2%	-48.2%	-49.5%	-47.2%	-31.0%	-18.0%	-13.9%	-13.2%	-2.6%	-3.4%	-0.7%	0.9%	-9.6%	-18.2%	-20.2%	-21.4%	-17.2%	-17.20%
OCF Margin	42.6%	47.6%	39.4%	13.1%	7.2%	-0.6%	3.1%	8.0%	9.5%	9.9%	7.9%	13.9%	14.2%	18.6%	20.9%	16.6%	17.6%	16.7%	18.5%	19.0%	19.01%
ROE 3Y Avg	snapshot only																				18.29%
ROE 5Y Avg	snapshot only																				15.94%
ROA 3Y Avg	snapshot only																				2.36%
ROIC 3Y Avg	snapshot only																				4.43%
ROIC Economic	snapshot only																				4.02%
Cash ROA	snapshot only																				4.72%
Cash ROIC	snapshot only																				6.25%
CROIC	snapshot only																				-5.65%
NOPAT Margin	snapshot only																				12.47%
Pretax Margin	snapshot only																				23.60%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				10.61%
SBC / Revenue	snapshot only																				0.80%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-28.95	13.89	14.20	10.49	9.57	36.20	27.78	24.67	24.89	19.34	17.33	14.59	16.19	20.49	16.63	22.95	23.81	8.55	10.33	8.22	6.077
P/S Ratio	1.57	1.97	1.77	1.14	0.96	1.10	0.84	0.79	0.67	0.69	0.69	0.73	0.86	0.92	0.80	0.88	1.04	1.00	1.28	1.38	1.019
P/B Ratio	1.72	2.46	2.45	1.78	1.55	2.15	1.82	1.95	1.85	1.98	2.07	2.23	2.64	2.68	2.16	2.19	2.27	2.01	2.44	2.47	1.820
P/FCF	42.53	58.80	108.51	-3.34	-1.98	-2.22	-1.79	-2.55	-3.71	-4.95	-5.23	-28.32	-25.41	-129.49	90.61	-9.13	-5.73	-4.97	-5.97	-8.03	-8.032
P/OCF	3.68	4.13	4.49	8.70	13.37	—	27.40	9.91	7.05	6.93	8.74	5.22	6.06	4.94	3.80	5.30	5.92	6.01	6.92	7.27	7.267
EV/EBITDA	22.27	15.82	16.04	14.44	13.14	13.79	13.26	12.67	12.27	10.86	10.53	9.81	10.05	10.47	11.08	11.87	12.24	8.52	8.36	7.56	7.558
EV/Revenue	4.96	5.83	5.42	4.76	4.25	3.85	3.52	3.09	2.69	2.58	2.51	2.40	2.55	2.68	2.73	3.08	3.67	3.43	3.82	3.86	3.864
EV/EBIT	124.40	34.99	35.10	29.88	26.48	27.67	26.41	24.34	23.42	18.55	17.24	15.49	15.61	16.67	16.04	17.86	18.61	11.54	12.33	10.61	10.608
EV/FCF	134.32	174.49	332.18	-13.92	-8.82	-7.76	-7.46	-9.99	-14.97	-18.55	-19.08	-93.69	-75.31	-377.43	310.58	-31.98	-20.12	-17.01	-17.85	-22.47	-22.467
Earnings Yield	-3.5%	7.2%	7.0%	9.5%	10.4%	2.8%	3.6%	4.1%	4.0%	5.2%	5.8%	6.9%	6.2%	4.9%	6.0%	4.4%	4.2%	11.7%	9.7%	12.2%	12.17%
FCF Yield	2.4%	1.7%	0.9%	-29.9%	-50.4%	-45.0%	-55.9%	-39.2%	-27.0%	-20.2%	-19.1%	-3.5%	-3.9%	-0.8%	1.1%	-10.9%	-17.4%	-20.1%	-16.8%	-12.4%	-12.45%
PEG Ratio	snapshot only																				0.023
Price/Tangible Book	snapshot only																				3.062
EV/OCF	snapshot only																				20.326
EV/Gross Profit	snapshot only																				14.805
Acquirers Multiple	snapshot only																				23.296
Shareholder Yield	snapshot only																				5.70%
Graham Number	snapshot only																				$36.41

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	2.35	1.30	2.07	2.14	2.11	1.59	2.11	2.10	2.06	1.01	2.06	2.07	2.18	0.85	1.97	2.30	2.22	2.12	2.10	2.09	2.095
Quick Ratio	1.55	0.72	1.07	1.03	0.92	0.79	1.03	1.13	1.02	0.47	1.09	1.14	1.26	0.52	1.13	1.36	1.13	1.30	1.17	1.12	1.122
Debt/Equity	3.98	5.12	5.19	5.68	5.57	5.65	5.85	5.98	5.89	5.66	5.70	5.48	5.50	5.48	5.33	5.80	5.94	5.05	4.99	4.57	4.572
Net Debt/Equity	3.72	4.83	5.05	5.63	5.34	5.36	5.77	5.68	5.62	5.44	5.48	5.14	5.18	5.13	5.24	5.49	5.70	4.87	4.87	4.44	4.436
Debt/Assets	0.62	0.64	0.65	0.66	0.65	0.66	0.66	0.66	0.66	0.66	0.66	0.65	0.66	0.66	0.65	0.66	0.67	0.65	0.65	0.63	0.635
Debt/EBITDA	16.28	11.13	11.10	11.07	10.64	10.38	10.22	9.93	9.66	8.30	7.96	7.30	7.06	7.35	7.98	8.96	9.12	6.26	5.71	5.01	5.005
Net Debt/EBITDA	15.22	10.49	10.80	10.98	10.19	9.85	10.08	9.43	9.23	7.97	7.65	6.84	6.66	6.88	7.85	8.48	8.76	6.03	5.57	4.86	4.856
Interest Coverage	0.29	1.12	1.20	1.36	1.36	1.32	1.26	1.28	1.24	1.56	1.69	1.84	1.93	1.81	1.80	1.62	1.58	2.41	2.41	2.84	2.841
Equity Multiplier	6.38	8.00	8.03	8.65	8.55	8.62	8.89	9.07	8.97	8.59	8.65	8.41	8.36	8.34	8.23	8.73	8.92	7.82	7.72	7.20	7.201
Cash Ratio	snapshot only																				0.284
Debt Service Coverage	snapshot only																				3.987
Cash to Debt	snapshot only																				0.030
FCF to Debt	snapshot only																				-0.067
Defensive Interval	snapshot only																				942.3 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.17	0.15	0.17	0.18	0.19	0.23	0.25	0.28	0.32	0.34	0.35	0.36	0.36	0.35	0.32	0.28	0.24	0.25	0.24	0.24	0.240
Inventory Turnover	2.78	2.77	2.76	2.55	2.43	3.03	3.07	3.23	3.38	3.74	4.02	4.24	4.19	4.16	4.04	3.57	2.90	3.36	3.23	3.04	3.039
Receivables Turnover	6.26	6.56	9.66	8.09	6.19	7.18	8.20	7.15	8.25	8.69	7.71	8.04	8.05	8.29	6.69	6.99	6.00	5.62	5.94	6.16	6.160
Payables Turnover	5.58	5.64	5.78	5.36	5.36	6.52	6.34	6.57	7.54	8.29	7.88	8.13	8.64	8.66	7.47	7.18	6.13	6.09	5.70	6.09	6.086
DSO	58	56	38	45	59	51	44	51	44	42	47	45	45	44	55	52	61	65	61	59	59.3 days
DIO	131	132	132	143	150	120	119	113	108	98	91	86	87	88	90	102	126	109	113	120	120.1 days
DPO	65	65	63	68	68	56	58	56	48	44	46	45	42	42	49	51	60	60	64	60	60.0 days
Cash Conversion Cycle	124	123	107	120	141	115	106	108	104	96	92	87	90	90	96	104	127	114	110	119	119.4 days
Fixed Asset Turnover	snapshot only																				0.323
Operating Cycle	snapshot only																				179.4 days
Cash Velocity	snapshot only																				13.118
Capital Intensity	snapshot only																				4.031

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	-40.1%	-35.7%	-16.7%	3.5%	11.6%	53.8%	50.3%	58.0%	70.5%	50.9%	46.8%	33.4%	17.0%	3.2%	-9.4%	-22.9%	-33.0%	-30.0%	-27.7%	-18.9%	-18.95%
Net Income	-53.8%	2.2%	1.6%	3.0%	3.1%	-67.0%	-63.4%	-53.6%	-54.2%	76.4%	92.2%	1.1%	1.3%	30.6%	9.2%	-40.7%	-44.6%	82.9%	86.5%	2.6%	2.56%
EPS	-63.1%	2.4%	1.8%	3.4%	3.5%	-61.1%	-62.4%	-53.0%	-54.3%	75.5%	91.5%	1.1%	1.3%	29.5%	8.8%	-40.5%	-43.1%	88.2%	90.9%	2.7%	2.65%
FCF	1.4%	1.8%	1.2%	-44.0%	-15.6%	-23.8%	-44.5%	-43.0%	36.4%	57.7%	59.0%	89.0%	78.0%	94.7%	1.1%	-1.9%	-2.6%	-18.9%	-18.6%	-44.9%	-44.87%
EBITDA	53.3%	48.9%	13.7%	63.2%	62.1%	16.2%	18.0%	17.1%	15.7%	28.4%	32.1%	33.7%	35.0%	11.6%	-6.4%	-18.4%	-20.8%	10.1%	34.0%	59.8%	59.79%
Op. Income	4.5%	2.8%	2.6%	11.0%	14.7%	48.7%	52.8%	54.0%	48.3%	24.9%	31.8%	34.0%	37.2%	16.8%	3.7%	-14.4%	-18.7%	-18.5%	-21.2%	-21.1%	-21.14%
OCF Growth	snapshot only																				-7.15%
Asset Growth	snapshot only																				-6.56%
Equity Growth	snapshot only																				13.28%
Debt Growth	snapshot only																				-10.76%
Shares Change	snapshot only																				-2.63%
Dividend Growth	snapshot only																				5.25%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	-26.1%	-28.0%	-23.7%	-19.8%	-17.4%	-13.0%	-10.7%	-4.2%	4.5%	14.3%	22.5%	29.7%	30.6%	33.8%	26.0%	17.5%	10.1%	2.9%	-1.3%	-5.9%	-5.91%
Revenue 5Y	-21.9%	-22.5%	-19.7%	-17.2%	-15.9%	-11.6%	-9.9%	-7.7%	-5.1%	-2.8%	-0.4%	1.7%	2.4%	0.5%	-1.1%	-2.0%	-2.2%	1.5%	3.8%	6.4%	6.38%
EPS 3Y	—	18.1%	22.9%	28.7%	20.0%	-13.8%	-29.5%	64.5%	3.1%	—	—	—	—	-4.0%	-7.8%	-16.8%	-15.8%	62.3%	58.4%	64.7%	64.73%
EPS 5Y	—	-3.6%	2.0%	4.5%	5.5%	-30.4%	-29.3%	-27.6%	-27.7%	2.4%	6.0%	15.6%	12.6%	7.8%	-6.1%	40.4%	1.5%	—	—	—	—
Net Income 3Y	—	5.2%	6.3%	11.7%	4.5%	-24.1%	-37.6%	46.8%	2.7%	—	—	—	—	-8.7%	-8.4%	-17.0%	-16.3%	61.5%	57.6%	63.5%	63.53%
Net Income 5Y	—	-11.4%	-8.9%	-7.0%	-6.4%	-38.6%	-37.5%	-35.3%	-35.3%	-7.5%	-3.3%	6.0%	3.9%	0.2%	-12.6%	31.2%	1.3%	—	—	—	—
EBITDA 3Y	-25.0%	-10.4%	-9.0%	-5.9%	-6.5%	-7.9%	-6.2%	30.3%	42.2%	—	—	36.7%	36.3%	18.5%	13.4%	8.5%	7.3%	16.4%	18.3%	20.4%	20.38%
EBITDA 5Y	-22.2%	-14.0%	-12.2%	-9.8%	-8.4%	-7.3%	-6.5%	-6.1%	-4.6%	1.4%	3.3%	5.5%	5.0%	2.3%	0.4%	19.3%	25.2%	—	—	27.2%	27.22%
Gross Profit 3Y	-23.0%	-26.9%	-25.7%	-23.2%	-20.9%	-16.8%	-14.3%	-10.1%	-5.1%	2.4%	9.9%	15.3%	21.1%	31.6%	31.7%	28.6%	23.8%	15.7%	12.0%	7.7%	7.70%
Gross Profit 5Y	-21.9%	-23.7%	-23.1%	-22.2%	-20.6%	-16.7%	-15.1%	-13.9%	-10.8%	-6.8%	-3.2%	0.7%	2.0%	0.8%	0.5%	0.5%	0.9%	3.0%	4.7%	4.8%	4.84%
Op. Income 3Y	-20.5%	-17.0%	-16.1%	-12.9%	-14.3%	-7.1%	-4.3%	—	—	—	—	31.8%	32.6%	29.4%	27.8%	20.9%	18.3%	5.9%	2.5%	-3.3%	-3.27%
Op. Income 5Y	-24.8%	-21.3%	-19.0%	-16.5%	-14.6%	-9.5%	-8.1%	-6.4%	-3.1%	1.2%	3.5%	6.4%	5.1%	3.2%	3.7%	—	—	—	—	9.1%	9.11%
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.5%	—	—	—	—	—	—
FCF 5Y	-23.3%	-22.8%	-31.3%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	1.6%	17.3%	92.0%	82.2%	-19.5%	—	-54.3%	-35.2%	-27.4%	-23.2%	-23.2%	-11.6%	-9.6%	-2.1%	2.1%	27.1%	48.8%	—	79.3%	25.7%	25.72%
OCF 5Y	-10.8%	-10.9%	-11.3%	-26.3%	-31.7%	—	-37.9%	-24.1%	-15.0%	-4.9%	25.6%	68.3%	15.6%	7.8%	-2.9%	-10.3%	-11.0%	-11.2%	-7.0%	-10.0%	-10.03%
Assets 3Y	-3.3%	1.0%	-0.5%	0.2%	-0.2%	0.1%	-0.6%	1.4%	0.9%	0.8%	1.1%	1.3%	1.3%	2.4%	1.5%	0.7%	1.3%	-1.2%	-2.0%	-3.0%	-3.01%
Assets 5Y	-1.4%	-2.0%	-1.9%	-1.8%	-2.1%	-1.8%	-1.4%	-0.7%	-0.9%	2.2%	1.5%	0.9%	0.5%	0.3%	-0.8%	0.3%	0.5%	-0.6%	-1.0%	-0.9%	-0.91%
Equity 3Y	-32.3%	-22.5%	-22.5%	-22.9%	-21.9%	-20.7%	-22.3%	-19.3%	-18.0%	-15.8%	-14.7%	-8.5%	-7.4%	0.9%	0.7%	0.4%	-0.2%	2.1%	2.8%	4.7%	4.75%
Book Value 3Y	-23.1%	-12.9%	-10.3%	-11.2%	-10.3%	-10.0%	-12.2%	-9.6%	-8.3%	-7.1%	-6.5%	-1.4%	-2.0%	6.2%	1.4%	0.6%	0.4%	2.6%	3.3%	5.5%	5.51%
Dividend 3Y	15.0%	11.0%	12.3%	9.9%	8.6%	8.3%	10.4%	12.3%	14.2%	14.5%	13.7%	11.6%	9.1%	8.0%	3.2%	2.6%	2.8%	2.5%	2.0%	1.6%	1.56%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.99	0.98	0.95	0.93	0.94	0.77	0.67	0.50	0.30	0.09	0.01	0.02	0.06	0.04	0.03	0.04	0.06	0.20	0.21	0.16	0.161
Earnings Stability	0.55	0.41	0.32	0.31	0.31	0.42	0.36	0.36	0.36	0.00	0.00	0.12	0.10	0.08	0.02	0.32	0.39	0.56	0.55	0.59	0.588
Margin Stability	0.91	0.93	0.89	0.83	0.87	0.88	0.85	0.79	0.83	0.86	0.86	0.80	0.83	0.89	0.91	0.87	0.82	0.83	0.83	0.81	0.808
Rev. Growth Consistency	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.00	0.50	0.50	0.50	0.50	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.20	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.88	0.96	0.84	0.82	0.50	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	0.00	0.07	0.27	0.26	0.45	0.37	0.30	0.21	0.73	0.91	0.49	0.43	0.41	0.40	0.00	0.000
ROE Trend	-0.09	0.19	0.20	0.19	0.19	0.01	0.07	0.03	0.02	-0.02	0.00	0.03	0.04	0.05	0.04	-0.02	-0.02	0.12	0.11	0.18	0.176
Gross Margin Trend	0.04	-0.00	-0.04	-0.06	-0.06	-0.05	-0.04	-0.06	-0.05	-0.03	-0.00	0.02	0.03	0.04	0.04	0.05	0.08	0.07	0.06	0.04	0.043
FCF Margin Trend	0.23	0.18	0.09	-0.32	-0.47	-0.50	-0.44	-0.13	0.04	0.09	0.10	0.30	0.30	0.31	0.31	0.07	-0.08	-0.13	-0.15	-0.11	-0.111
Sustainable Growth Rate	—	6.8%	6.9%	7.4%	7.2%	-1.6%	-1.4%	-0.2%	-0.9%	2.0%	3.7%	7.1%	7.9%	4.3%	4.0%	0.0%	-0.2%	14.5%	14.7%	22.7%	22.72%
Internal Growth Rate	—	1.1%	1.1%	1.0%	1.0%	—	—	—	—	0.2%	0.4%	0.8%	0.9%	0.5%	0.5%	0.0%	—	1.8%	1.9%	3.0%	2.95%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	-7.86	3.36	3.16	1.21	0.72	-0.21	1.01	2.49	3.53	2.79	1.98	2.79	2.67	4.15	4.37	4.33	4.02	1.42	1.49	1.13	1.131
FCF/OCF	0.09	0.07	0.04	-2.60	-6.74	76.53	-15.32	-3.88	-1.90	-1.40	-1.67	-0.18	-0.24	-0.04	0.04	-0.58	-1.03	-1.21	-1.16	-0.90	-0.905
FCF/Net Income	snapshot only																				-1.023
OCF/EBITDA	snapshot only																				0.372
CapEx/Revenue	38.9%	44.2%	37.8%	47.3%	55.4%	48.9%	50.2%	38.9%	27.5%	23.8%	21.1%	16.5%	17.5%	19.3%	20.1%	26.2%	35.9%	36.9%	39.9%	36.2%	36.21%
CapEx/Depreciation	snapshot only																				2.464
Accruals Ratio	-0.08	-0.05	-0.05	-0.00	0.01	0.01	-0.00	-0.01	-0.02	-0.02	-0.01	-0.03	-0.03	-0.05	-0.05	-0.04	-0.03	-0.01	-0.01	-0.01	-0.005
Sloan Accruals	snapshot only																				-0.039
Cash Flow Adequacy	snapshot only																				0.463
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	4.0%	3.5%	3.3%	4.5%	5.0%	3.5%	4.4%	4.2%	4.5%	4.2%	4.0%	3.8%	3.3%	3.3%	4.2%	4.4%	4.3%	4.6%	3.8%	3.5%	4.71%
Dividend/Share	$0.93	$0.90	$0.99	$0.95	$0.94	$0.93	$0.95	$0.97	$1.00	$1.03	$1.05	$1.07	$1.09	$1.11	$1.13	$1.15	$1.19	$1.21	$1.21	$1.21	$1.23
Payout Ratio	—	48.6%	47.4%	47.6%	48.1%	1.3%	1.2%	1.0%	1.1%	81.1%	70.2%	55.3%	53.0%	67.3%	69.3%	99.9%	1.0%	39.0%	38.8%	28.8%	28.78%
FCF Payout Ratio	1.7%	2.1%	3.6%	—	—	—	—	—	—	—	—	—	—	—	3.8%	—	—	—	—	—	—
Total Payout Ratio	—	5.1%	5.0%	3.6%	3.4%	2.2%	2.1%	1.5%	1.4%	87.9%	75.9%	61.6%	62.5%	89.1%	97.3%	1.6%	1.8%	67.4%	66.5%	46.9%	46.87%
Div. Increase Streak	1	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.08	0.00	-0.05	-0.09	-0.10	-0.10	-0.02	0.05	0.11	0.16	0.15	0.15	0.13	0.12	0.12	0.12	0.11	0.10	0.08	0.06	0.060
Buyback Yield	20.8%	33.0%	31.6%	30.0%	30.1%	2.6%	3.2%	1.9%	1.2%	0.4%	0.3%	0.4%	0.6%	1.1%	1.7%	2.7%	3.2%	3.3%	2.7%	2.2%	2.20%
Net Buyback Yield	20.8%	33.0%	31.6%	30.0%	30.1%	2.6%	3.2%	1.9%	1.2%	0.4%	0.3%	0.4%	0.6%	1.1%	1.7%	2.7%	3.2%	3.3%	2.7%	2.2%	2.20%
Total Shareholder Return	24.9%	36.5%	34.9%	34.6%	35.1%	6.2%	7.5%	6.1%	5.7%	4.5%	4.4%	4.2%	3.9%	4.3%	5.9%	7.0%	7.5%	7.9%	6.4%	5.7%	5.70%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.56	7.91	4.82	2.60	2.35	0.48	0.55	0.62	0.61	0.71	0.67	0.71	0.68	0.62	0.63	0.58	0.60	0.67	0.68	0.71	0.712
Interest Burden (EBT/EBIT)	-2.44	0.11	0.17	0.26	0.27	0.46	0.42	0.41	0.38	0.36	0.41	0.46	0.48	0.45	0.44	0.38	0.37	0.59	0.59	0.65	0.648
EBIT Margin	0.04	0.17	0.15	0.16	0.16	0.14	0.13	0.13	0.12	0.14	0.15	0.16	0.16	0.16	0.17	0.17	0.20	0.30	0.31	0.36	0.364
Asset Turnover	0.17	0.15	0.17	0.18	0.19	0.23	0.25	0.28	0.32	0.34	0.35	0.36	0.36	0.35	0.32	0.28	0.24	0.25	0.24	0.24	0.240
Equity Multiplier	5.47	6.12	6.26	7.22	7.32	8.30	8.45	8.86	8.76	8.60	8.77	8.73	8.66	8.46	8.44	8.56	8.63	8.08	7.97	7.92	7.918

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-0.80	$1.86	$2.08	$2.00	$1.95	$0.72	$0.78	$0.94	$0.89	$1.27	$1.50	$1.93	$2.05	$1.64	$1.63	$1.15	$1.16	$3.09	$3.12	$4.21	$4.21
Book Value/Share	$13.38	$10.51	$12.07	$11.82	$12.08	$12.18	$11.95	$11.93	$11.99	$12.42	$12.57	$12.67	$12.57	$12.58	$12.57	$12.04	$12.22	$13.17	$13.17	$14.01	$14.39
Tangible Book/Share	$11.21	$8.93	$10.27	$9.93	$10.16	$9.83	$9.28	$9.26	$9.32	$9.77	$9.91	$10.04	$9.94	$8.77	$9.92	$9.40	$9.52	$10.46	$10.47	$11.29	$11.29
Revenue/Share	$14.67	$13.12	$16.70	$18.38	$19.55	$23.79	$25.80	$29.40	$33.25	$35.73	$37.74	$38.88	$38.62	$36.57	$34.07	$30.07	$26.56	$26.37	$25.20	$25.03	$25.66
FCF/Share	$0.54	$0.44	$0.27	$-6.29	$-9.43	$-11.79	$-12.17	$-9.10	$-5.99	$-4.96	$-4.97	$-1.00	$-1.31	$-0.26	$0.30	$-2.89	$-4.84	$-5.32	$-5.39	$-4.31	$-4.41
OCF/Share	$6.25	$6.24	$6.58	$2.41	$1.40	$-0.15	$0.79	$2.34	$3.15	$3.54	$2.97	$5.40	$5.47	$6.81	$7.14	$4.99	$4.69	$4.40	$4.65	$4.76	$4.88
Cash/Share	$3.47	$3.09	$1.67	$0.59	$2.87	$3.54	$0.98	$3.56	$3.19	$2.82	$2.82	$4.33	$3.95	$4.45	$1.13	$3.76	$2.91	$2.46	$1.62	$1.91	$1.96
EBITDA/Share	$3.27	$4.84	$5.64	$6.06	$6.33	$6.63	$6.84	$7.18	$7.30	$8.48	$9.01	$9.52	$9.79	$9.38	$8.40	$7.80	$7.96	$10.63	$11.51	$12.80	$12.80
Debt/Share	$53.19	$53.85	$62.63	$67.10	$67.30	$68.86	$69.94	$71.26	$70.56	$70.33	$71.68	$69.47	$69.11	$68.93	$67.02	$69.89	$72.57	$66.53	$65.72	$64.05	$64.05
Net Debt/Share	$49.72	$50.76	$60.95	$66.51	$64.43	$65.32	$68.96	$67.71	$67.37	$67.51	$68.86	$65.14	$65.16	$64.49	$65.89	$66.13	$69.66	$64.07	$64.10	$62.14	$62.14

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.066
Altman Z-Prime	snapshot only																				1.954
Piotroski F-Score	3	5	5	6	6	5	7	5	4	6	6	7	7	7	6	6	6	8	8	6	6
Beneish M-Score	-3.02	-2.87	-2.06	-1.55	-2.71	-1.56	-1.71	-1.70	-1.85	-2.45	-2.32	-2.79	-2.75	-2.81	2.34	-2.72	-2.77	2.73	-3.03	-2.32	-2.316
Ohlson O-Score	snapshot only																				-5.981
ROIC (Greenblatt)	snapshot only																				10.73%
Net-Net WC	snapshot only																				$-72.76
EVA	snapshot only																				$-366710224.02

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				B
Credit Score	23.06	17.60	22.31	21.12	19.40	16.41	19.90	20.01	20.06	15.65	23.55	23.96	24.63	16.28	23.85	22.39	22.38	26.32	28.04	27.94	27.939
Credit Grade	snapshot only																				15
Credit Trend	snapshot only																				5.545
Implied Spread (bps)	snapshot only																				750.000
Industry Credit Rank	snapshot only																				15
Sector Credit Rank	snapshot only																				15

TRN NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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