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Trinity Industries vs Westinghouse Air Brake Technologies: revenue, profit, margins and growth compared

Trinity Industries brought in $2.2B of revenue in fiscal 2025, Westinghouse Air Brake Technologies $11.2B in fiscal 2025. Revenue changed by -30.0% at Trinity Industries and +7.5% at Westinghouse Air Brake Technologies on the year before, so Westinghouse Air Brake Technologies grew faster. Trinity Industries kept 11.7% of its revenue as net profit, Westinghouse Air Brake Technologies 10.5%. Free cash flow was $314.1M at Trinity Industries and $1.5B at Westinghouse Air Brake Technologies.

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Side by side, latest fiscal year

TRNWAB
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.2B$11.2B
Revenue growth-30.0%+7.5%
Net income$253.1M$1.2B
Net margin11.7%10.5%
Free cash flow$314.1M$1.5B
Free cash flow margin14.6%13.4%
Earnings per share (diluted)$3.05$6.83
Cash$201.3M$789M
Debtn/a$5.5B
Price to earnings9.242.2
Market value$2.2B$48.6B
Dividend yield4.34%0.35%
Rank by revenue in sector#214 of 451 · Industrials#59 of 451 · Industrials

Over the years

Revenue
TRN FY2018: $2.5BTRN FY2019: $2.8BTRN FY2020: $1.7BTRN FY2021: $1.5BTRN FY2022: $2BTRN FY2023: $3BTRN FY2024: $3.1BTRN FY2025: $2.2BWAB FY2018: $4.4BWAB FY2019: $8.2BWAB FY2020: $7.6BWAB FY2021: $7.8BWAB FY2022: $8.4BWAB FY2023: $9.7BWAB FY2024: $10.4BWAB FY2025: $11.2BFY18FY19FY20FY21FY22FY23FY24FY25
TRN $2.2BWAB $11.2B
Net income
TRN FY2018: $159.3MTRN FY2019: $137.6MTRN FY2020: -$147.3MTRN FY2021: $182MTRN FY2022: $60.1MTRN FY2023: $106MTRN FY2024: $138.4MTRN FY2025: $253.1MWAB FY2018: $294.9MWAB FY2019: $327MWAB FY2020: $414MWAB FY2021: $558MWAB FY2022: $633MWAB FY2023: $815MWAB FY2024: $1.1BWAB FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
TRN $253.1MWAB $1.2B
Net margin
TRN FY2018: 6.3%TRN FY2019: 5.0%TRN FY2020: -8.4%TRN FY2021: 12.0%TRN FY2022: 3.0%TRN FY2023: 3.6%TRN FY2024: 4.5%TRN FY2025: 11.7%WAB FY2018: 6.8%WAB FY2019: 4.0%WAB FY2020: 5.5%WAB FY2021: 7.1%WAB FY2022: 7.6%WAB FY2023: 8.4%WAB FY2024: 10.2%WAB FY2025: 10.5%FY18FY19FY20FY21FY22FY23FY24FY25
TRN 11.7%WAB 10.5%
Revenue growth
TRN FY2019: +9.7%TRN FY2020: -36.4%TRN FY2021: -13.4%TRN FY2022: +30.4%TRN FY2023: +50.9%TRN FY2024: +3.2%TRN FY2025: -30.0%WAB FY2019: +87.9%WAB FY2020: -7.9%WAB FY2021: +3.5%WAB FY2022: +6.9%WAB FY2023: +15.7%WAB FY2024: +7.3%WAB FY2025: +7.5%FY19FY20FY21FY22FY23FY24FY25
TRN -30.0%WAB +7.5%
Free cash flow
TRN FY2018: $341.8MTRN FY2019: $305.6MTRN FY2020: $555.8MTRN FY2021: $588.2MTRN FY2022: -$50.8MTRN FY2023: $254.3MTRN FY2024: $520MTRN FY2025: $314.1MWAB FY2018: $221.4MWAB FY2019: $830MWAB FY2020: $648MWAB FY2021: $943MWAB FY2022: $889MWAB FY2023: $1BWAB FY2024: $1.6BWAB FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
TRN $314.1MWAB $1.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Trinity Industries and Westinghouse Air Brake Technologies

Which is bigger by revenue, Trinity Industries or Westinghouse Air Brake Technologies?

Westinghouse Air Brake Technologies is bigger by revenue: $11.2B in fiscal 2025, against $2.2B for Trinity Industries in fiscal 2025.

Which keeps more of its revenue as profit, Trinity Industries or Westinghouse Air Brake Technologies?

Trinity Industries had a net margin of 11.7% in fiscal 2025; Westinghouse Air Brake Technologies had 10.5% in fiscal 2025.

Which grew revenue faster, Trinity Industries or Westinghouse Air Brake Technologies?

In their latest fiscal years revenue changed by -30.0% at Trinity Industries and +7.5% at Westinghouse Air Brake Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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