Trimas (TRS)
NASDAQ:TRS
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Trimas
(NASDAQ:TRS)
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Rating:75Outperform
Price Target:
$44.00
▲(15.06% Upside)
Action:Reiterated
Date:05/22/26
Score is driven primarily by improved financial flexibility from a dramatically stronger balance sheet and a positive, reaffirmed 2026 outlook (margin expansion and much higher EPS guidance). The rating is tempered by declining TTM revenue and weaker cash conversion/FCF momentum, which raises questions about earnings quality despite very attractive-looking valuation metrics.
Positive Factors
Balance Sheet Strength
The $1.4B gross divestiture transformed TriMas into a net cash company with debt-to-equity ~0.03, materially increasing financial flexibility. This durable capital base lowers interest risk, supports sustained buybacks, opportunistic M&A or capex, and insulates operations through downturns.
Negative Factors
Declining TTM Revenue
A persistent revenue decline weakens operating leverage and puts pressure on sustainable earnings. Even with margin initiatives, durable value creation requires consistent organic revenue recovery; continued top-line volatility raises execution risk and may constrain long-term margin scalability.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
The $1.4B gross divestiture transformed TriMas into a net cash company with debt-to-equity ~0.03, materially increasing financial flexibility. This durable capital base lowers interest risk, supports sustained buybacks, opportunistic M&A or capex, and insulates operations through downturns.
Read all positive factors
Trimas (TRS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.47B
Dividend Yield0.45%
Average Volume (3M)489.28K
Price to Earnings (P/E)1.7
Beta (1Y)0.86
Revenue Growth-7.64%
EPS Growth3005.55%
CountryUS
Employees3,900
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)24.10
Shares Outstanding35,827,686
10 Day Avg. Volume429,260
30 Day Avg. Volume489,282
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.03
Price to Sales (P/S)2.22
P/FCF Ratio20.72
Enterprise Value/Market Cap0.41
Enterprise Value/Revenue0.69
Enterprise Value/Gross Profit3.04
Enterprise Value/Ebitda4.30
Forecast
1Y Price Target
$45.00Price Target Upside17.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.57
Revenue Forecast (FY)$679.48M
Trimas Business Overview & Revenue Model
Company Description
TriMas Corporation (TRS) is a global industrial company focused on the engineering, manufacturing, and distribution of a diverse range of products spanning consumer, aerospace, and industrial markets. Its operations are structured into three prima...
How the Company Makes Money
TriMas makes money primarily by manufacturing and selling engineered products to business customers, generating revenue when products are shipped/delivered under customer contracts and purchase orders. Its key revenue streams align to its operatin...
Trimas Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive outlook driven by a transformative aerospace divestiture, a strengthened balance sheet (net cash $913M), double-digit sales growth in Q1 (>10%), margin expansion (120 bps), significant EPS upside with 2026 guidance of $1.50–$1.70 (≈191% improvement at midpoint), and concrete cost-savings actions expected to deliver $10M in 2026 and >$15M annually. Near-term headwinds include a one-time low-margin tooling sale that pressured Packaging mix, potential timing lag in commodity pass-through (possible Q2 margin pressure), seasonal Q1 cash usage (-$16M FCF), upcoming tax payments (~$200M), and monitored geopolitical/supply chain risks. Overall, the positive financial progress and strategic capital position meaningfully outweigh the manageable near-term challenges.Positive Updates
Successful Aerospace Divestiture and Balance Sheet Strengthening
Closed divestiture of TriMas Aerospace on March 16; generated approximately $1.4 billion of gross proceeds (more than $1.2 billion net after-tax proceeds as noted) and transformed the balance sheet. Ended Q1 with a net cash position of $913 million and invested proceeds earning ~3.5%.
Negative Updates
One-Time Low-Margin Tooling Revenue Impacting Packaging Mix
Approximately $5 million of tooling revenue in Q1 (life sciences) was sold at low margin and not inherent in original Q1 forecast, suppressing year-over-year packaging margins despite higher volumes.
Read all updates
Q1-2026 Updates
Positive
Negative
Successful Aerospace Divestiture and Balance Sheet Strengthening
Closed divestiture of TriMas Aerospace on March 16; generated approximately $1.4 billion of gross proceeds (more than $1.2 billion net after-tax proceeds as noted) and transformed the balance sheet. Ended Q1 with a net cash position of $913 million and invested proceeds earning ~3.5%.
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 guidance calling for sales growth of 3%–6% (on a 2025 revenue base of $645.7M) and operating margins expanding into the 14%–15% range while also citing “more than 300 bps” of margin improvement versus the 5.3% margin in 2025; adjusted diluted EPS is guided to $1.50–$1.70 (a ~191% increase at the midpoint versus $0.55 in 2025) assuming roughly $9M of interest income for the remainder of the year, interest expense of $20M–$22M, a 27%–29% effective tax rate, and ~ $10M of lower corporate cash costs year‑over‑year. Additional metrics tied to the outlook: Q1 ended with a net cash position of ~$913M after ~$1.4B gross divestiture proceeds, the company has repurchased ~4.5M shares since the sale (~1.5M in Q1) with ~36.3M shares outstanding, Q1 sales were $168M (+>10% YoY: 7.3% organic + 4% FX), Q1 free cash flow was a use of $16M, and management expects >$10M of cost savings in 2026 (>$15M annualized) plus incremental ~$0.5M in 2026 (~$1M annualized) from the Atkins consolidation, with sequential improvement in sales, earnings and adjusted EPS (Q2 then Q3) and stronger free cash flow later in the year.Trimas Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
84
Very Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 867.79M | 645.72M | 630.80M | 893.55M | 883.83M | 857.11M |
| Gross Profit | 196.31M | 131.24M | 123.20M | 194.86M | 194.31M | 202.43M |
| EBITDA | 138.51M | 99.32M | 80.30M | 124.10M | 155.00M | 137.07M |
| Net Income | 908.55M | 120.14M | 24.25M | 40.36M | 66.17M | 57.31M |
Balance Sheet | ||||||
| Total Assets | 2.30B | 1.49B | 1.32B | 1.34B | 1.30B | 1.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.31B | 30.02M | 23.07M | 34.89M | 112.09M | 140.74M |
| Total Debt | 439.28M | 505.08M | 442.84M | 443.25M | 444.02M | 445.72M |
| Total Liabilities | 847.32M | 779.49M | 656.88M | 658.71M | 653.17M | 672.79M |
| Stockholders Equity | 1.45B | 705.59M | 667.30M | 682.95M | 651.83M | 630.85M |
Cash Flow | ||||||
| Free Cash Flow | 48.25M | 69.10M | 12.82M | 33.97M | 26.61M | 89.16M |
| Operating Cash Flow | 88.88M | 117.45M | 63.78M | 88.16M | 72.57M | 134.22M |
| Investing Cash Flow | 1.40B | -64.05M | -46.96M | -134.42M | -55.04M | -79.18M |
| Financing Cash Flow | -208.85M | -46.45M | -28.64M | -30.94M | -46.18M | 11.75M |
Trimas Technical Analysis
Positive
38.24
Price Trends
38.91
Positive
37.44
Positive
36.64
Positive
Market Momentum
0.38
Positive
57.81
Neutral
68.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRS, the sentiment is Positive. The current price of 38.24 is below the 20-day moving average (MA) of 39.82, below the 50-day MA of 38.91, and above the 200-day MA of 36.64, indicating a bullish trend. The MACD of 0.38 indicates Positive momentum. The RSI at 57.81 is Neutral, neither overbought nor oversold. The STOCH value of 68.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRS.
Trimas Risk Analysis
Trimas disclosed 29 risk factors in its most recent earnings report. Trimas reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Trimas Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.47B | 1.69 | 101.07% | 0.45% | -7.64% | 3005.55% | |
65 Neutral | $993.39M | 23.59 | 14.53% | 2.80% | -6.26% | 149.36% | |
65 Neutral | $5.00B | 4.87 | 30.14% | 4.33% | 17.41% | 167.71% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $2.43B | 220.61 | -2.15% | 9.90% | 13.86% | 74.85% | |
43 Neutral | $1.39B | -7.43 | -14.49% | ― | -1.61% | 3.42% |
* Consumer Cyclical Sector Average
TRS
Trimas
41.02
13.79
50.64%
MYE
Myers Industries
26.45
12.36
87.72%
OI
O-I Glass
9.05
-4.70
-34.18%
SON
Sonoco Products
50.53
6.88
15.76%
AMBP
Ardagh Metal Packaging
4.06
0.33
8.73%
Trimas Corporate Events
Executive/Board ChangesShareholder Meetings
TriMas Shareholders Approve Directors, Auditor and Executive Pay
Positive
May 21, 2026
TriMas Corporation held its 2026 Annual Meeting of Shareholders on May 20, 2026, with 30,071,708 of 36,685,359 eligible shares represented, constituting a quorum for conducting business. At the meeting, shareholders elected Holly M. Boehne and Her...
Business Operations and StrategyM&A Transactions
TriMas Completes Aerospace Divestiture to Refocus on Packaging
Positive
Mar 18, 2026
On March 16, 2026, TriMas completed the divestiture of its TriMas Aerospace business to PennAero, a portfolio company of Tinicum L.P. and funds managed by Blackstone Inc., for approximately $1.45 billion in cash, generating an estimated $1.2 billi...
Executive/Board Changes
TriMas Announces Executive Officer Jill Stress’s Planned Departure
Neutral
Mar 12, 2026
TriMas Corporation announced on March 9, 2026, that named executive officer Jill S. Stress will depart the company effective March 27, 2026. In connection with her departure, she is expected to receive severance and equity-related benefits under t...
Executive/Board ChangesShareholder Meetings
TriMas Announces Planned Board Transition as Director Departs
Neutral
Feb 27, 2026
On February 26, 2026, TriMas Corporation announced that director Teresa M. Finley informed the board she will not stand for re-election at the company’s annual meeting of shareholders, expected around May 20, 2026. The company stated that Fi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.