TriMas Corp
TRS—
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TriMas Corp AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 387M is 53% of equity (725M) - acquisition-heavy model with impairment risk if segment performance deteriorates[Goodwill]
- Revenue growth 17.4% 1Y vs industry median 0.7% - outpacing peers 25x while gross margin expanded to 23% TTM[Total Revenue 1Y Growth]
- P/E of 35x vs industry median 23x with P/S of 1.4x vs 0.6x median - premium valuation requires continued execution[P/E Ratio]
Watch Triggers
- Gross Margin TTM: Falls below 20% — Would signal pricing power erosion and invalidate margin expansion thesis
- Total Revenue 1Y Growth: Decelerates below 5% — Premium valuation requires above-market growth; deceleration triggers multiple compression
- Goodwill: Impairment charge announced — 387M goodwill (53% of equity) impairment would materially impact book value
Bull Case
Revenue growth 17.4% 1Y with gross margin expansion to 23% demonstrates pricing power and operating leverage in specialty packaging
Total Revenue 1Y GrowthGross Margin TTMGross Profit 1Y Growth
FCF of 44M TTM (4.4% yield on market cap) with manageable 0.63 debt/equity supports reinvestment and deleveraging
Free Cash Flow TTMDebt to EquityCapital Expenditure TTM
Bear Case
P/E 35x is 53% premium to industry median 23x - multiple compression risk if growth decelerates from 17% pace
P/E RatioP/S RatioTotal Revenue 1Y Growth
ROIC 3.8% TTM below industry median 3.8% with 455M debt - capital allocation not yet generating adequate returns
ROIC TTMTotal DebtROE TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Margin expansion to continue as revenue scale absorbs fixed costs, driving EPS growth above 10% annually
1-3ymed
- Gross margin up 27% YoY on operating leverage
- Revenue 3Y CAGR 7.2% provides volume base
- Capex 5.8% of revenue enables capacity growth
Gross profit 1Y growth 27.5% vs revenue 17.4%Operating margin 6.8% TTM improvingFCF 44M TTM despite 59M capex
Valuation Context
Caveats
TRS Fundamentals
Manufacturing → Paper Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.49B | — | ||
$619.74M | — | ||
1.7 | — | ||
$661.54M | -29.6% | — | |
$24.05 | — | ||
2.10% | -3.3% | — | |
137% | +134.0% | — | |
$48.25M | +85.5% | — | |
85.1% | +80.4% | — | |
Beta 5Y (Monthly) | unknown | — |
TRS Dividend History
19 dividends
2026
$0.080005/07/26$0.0400
02/27/26$0.0400
2025
$0.160011/06/25$0.0400
08/05/25$0.0400
05/06/25$0.0400
02/28/25$0.0400
2024
$0.160011/05/24$0.0400
08/06/24$0.0400
05/06/24$0.0400
02/29/24$0.0400
2023
$0.160011/01/23$0.0400
08/02/23$0.0400
05/03/23$0.0400
03/01/23$0.0400
2022
$0.160011/02/22$0.0400
08/03/22$0.0400
05/04/22$0.0400
03/03/22$0.0400
2021
$0.040011/02/21$0.0400
TRS Stock Splits
No stock splits
TRS SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/30/26 | 03/31/26 | 10-Q | |
03/02/26 | 12/31/25 | 10-K | |
10/28/25 | 09/30/25 | 10-Q | |
07/29/25 | 06/30/25 | 10-Q | |
04/29/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | Unknown | |
11/04/24 | 09/30/24 | 10-Q | |
07/30/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/29/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
03/01/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
10/29/20 | 09/30/20 | 10-Q | |
07/30/20 | 06/30/20 | 10-Q | |
04/30/20 | 03/31/20 | 10-Q | |
02/27/20 | 12/31/19 | 10-K | |
11/04/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
04/30/19 | 03/31/19 | 10-Q | |
02/28/19 | 12/31/18 | 10-K | |
10/30/18 | 09/30/18 | 10-Q | |
08/07/18 | 06/30/18 | 10-Q | |
04/27/18 | 03/31/18 | 10-Q | |
02/27/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
07/27/17 | 06/30/17 | 10-Q | |
04/27/17 | 03/31/17 | 10-Q | |
02/28/17 | 12/31/16 | 10-K | |
10/27/16 | 09/30/16 | 10-Q | |
07/28/16 | 06/30/16 | 10-Q | |
04/28/16 | 03/31/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
08/04/15 | 06/30/15 | 10-Q | |
04/28/15 | 03/31/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
10/28/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
04/29/14 | 03/31/14 | 10-Q | |
02/20/14 | 12/31/13 | 10-K | |
10/28/13 | 09/30/13 | 10-Q | |
07/25/13 | 06/30/13 | 10-Q | |
04/25/13 | 03/31/13 | 10-Q | |
02/26/13 | 12/31/12 | 10-K | |
10/25/12 | 09/30/12 | 10-Q | |
07/30/12 | 06/30/12 | 10-Q | |
04/26/12 | 03/31/12 | 10-Q | |
02/27/12 | 12/31/11 | 10-K | |
10/27/11 | 09/30/11 | 10-Q | |
07/28/11 | 06/30/11 | 10-Q | |
04/28/11 | 03/31/11 | 10-Q | |
02/28/11 | 12/31/10 | 10-K | |
10/28/10 | 09/30/10 | 10-Q | |
08/03/10 | 06/30/10 | 10-Q | |
04/30/10 | 03/31/10 | 10-Q | |
03/04/10 | 12/31/09 | 10-K | |
11/09/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/06/09 | 03/30/09 | 10-Q | |
03/10/09 | 12/31/08 | 10-K | |
11/10/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
05/07/08 | 03/30/08 | Unknown | -- |
03/13/08 | 12/31/07 | 10-K | |
11/07/07 | 09/30/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/01/07 | 03/30/07 | Unknown | -- |
03/22/07 | 12/31/06 | 10-K | |
11/14/06 | 09/30/06 | 10-Q | |
08/14/06 | 06/30/06 | 10-Q | |
05/15/06 | 03/30/06 | Unknown | -- |
04/04/06 | 12/31/05 | NT 10-K | |
11/14/05 | 09/30/05 | 10-Q | |
08/15/05 | 06/30/05 | 10-Q | |
05/15/06 | 03/30/05 | 10-Q | |
05/16/05 | 03/30/05 | 10-Q | |
03/24/05 | 12/31/04 | 10-K | |
11/15/04 | 09/30/04 | 10-Q | |
08/13/04 | 06/30/04 | 10-Q | |
05/14/04 | 03/30/04 | 10-Q | |
03/26/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
08/14/03 | 06/30/03 | 10-Q | |
05/14/03 | 03/31/03 | 10-Q | |
03/31/03 | 12/31/02 | 10-K | |
11/12/03 | 09/30/02 | 10-Q | |
08/14/03 | 06/30/02 | 10-Q |