Reported Earnings • Jul 30
First quarter 2027 earnings released: EPS: JP¥12.95 (vs JP¥28.68 in 1Q 2026) First quarter 2027 results: EPS: JP¥12.95 (down from JP¥28.68 in 1Q 2026). Revenue: JP¥9.02b (up 1.5% from 1Q 2026). Net income: JP¥209.0m (down 55% from 1Q 2026). Profit margin: 2.3% (down from 5.2% in 1Q 2026). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Declared Dividend • Jul 25
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th September 2026 Payment date: 26th November 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Jun 27
Trinity Industrial Corporation to Report Q1, 2027 Results on Jul 29, 2026 Trinity Industrial Corporation announced that they will report Q1, 2027 results on Jul 29, 2026 Reported Earnings • Apr 28
Full year 2026 earnings released: EPS: JP¥167 (vs JP¥149 in FY 2025) Full year 2026 results: EPS: JP¥167 (up from JP¥149 in FY 2025). Revenue: JP¥39.0b (down 3.1% from FY 2025). Net income: JP¥2.69b (up 12% from FY 2025). Profit margin: 6.9% (up from 6.0% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Annonce • Apr 27
Trinity Industrial Corporation, Annual General Meeting, Jun 23, 2026 Trinity Industrial Corporation, Annual General Meeting, Jun 23, 2026. Annonce • Apr 21
Trinity Industrial Corporation to Report Fiscal Year 2026 Results on Apr 27, 2026 Trinity Industrial Corporation announced that they will report fiscal year 2026 results on Apr 27, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥42.99 (vs JP¥59.77 in 3Q 2025) Third quarter 2026 results: EPS: JP¥42.99 (down from JP¥59.77 in 3Q 2025). Revenue: JP¥9.01b (down 10% from 3Q 2025). Net income: JP¥695.0m (down 28% from 3Q 2025). Profit margin: 7.7% (down from 9.6% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 25% per year. Annonce • Dec 26
Trinity Industrial Corporation to Report Q3, 2026 Results on Jan 29, 2026 Trinity Industrial Corporation announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Nov 27
First half dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 4.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (23% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2026 earnings released: EPS: JP¥41.28 (vs JP¥37.44 in 2Q 2025) Second quarter 2026 results: EPS: JP¥41.28 (up from JP¥37.44 in 2Q 2025). Revenue: JP¥10.0b (up 6.6% from 2Q 2025). Net income: JP¥666.0m (up 10% from 2Q 2025). Profit margin: 6.6% (up from 6.4% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Annonce • Sep 26
Trinity Industrial Corporation to Report Q2, 2026 Results on Oct 31, 2025 Trinity Industrial Corporation announced that they will report Q2, 2026 results on Oct 31, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥28.68 (vs JP¥9.94 in 1Q 2025) First quarter 2026 results: EPS: JP¥28.68 (up from JP¥9.94 in 1Q 2025). Revenue: JP¥8.88b (up 2.6% from 1Q 2025). Net income: JP¥462.0m (up 189% from 1Q 2025). Profit margin: 5.2% (up from 1.8% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 28th November 2025 Dividend yield will be 6.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥149 (vs JP¥128 in FY 2024) Full year 2025 results: EPS: JP¥149 (up from JP¥128 in FY 2024). Revenue: JP¥40.2b (up 8.7% from FY 2024). Net income: JP¥2.40b (up 17% from FY 2024). Profit margin: 6.0% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annonce • Jun 25
Trinity Industrial Corporation to Report Q1, 2026 Results on Jul 31, 2025 Trinity Industrial Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: JP¥149 (vs JP¥128 in FY 2024) Full year 2025 results: EPS: JP¥149 (up from JP¥128 in FY 2024). Revenue: JP¥40.2b (up 8.7% from FY 2024). Net income: JP¥2.40b (up 17% from FY 2024). Profit margin: 6.0% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Annonce • Apr 25
Trinity Industrial Corporation, Annual General Meeting, Jun 24, 2025 Trinity Industrial Corporation, Annual General Meeting, Jun 24, 2025. Buy Or Sell Opportunity • Apr 08
Now 23% overvalued Over the last 90 days, the stock has fallen 2.6% to JP¥1,020. The fair value is estimated to be JP¥828, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 17%. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥928, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 50% over the past three years. Annonce • Mar 26
Trinity Industrial Corporation to Report Fiscal Year 2025 Results on Apr 25, 2025 Trinity Industrial Corporation announced that they will report fiscal year 2025 results on Apr 25, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: JP¥59.77 (vs JP¥49.66 in 3Q 2024) Third quarter 2025 results: EPS: JP¥59.77 (up from JP¥49.66 in 3Q 2024). Revenue: JP¥10.0b (up 2.7% from 3Q 2024). Net income: JP¥963.0m (up 21% from 3Q 2024). Profit margin: 9.6% (up from 8.2% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.9% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.2% average weekly change). Annonce • Jan 03
Trinity Industrial Corporation to Report Q3, 2025 Results on Jan 29, 2025 Trinity Industrial Corporation announced that they will report Q3, 2025 results on Jan 29, 2025 Declared Dividend • Nov 29
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥37.44 (vs JP¥27.05 in 2Q 2024) Second quarter 2025 results: EPS: JP¥37.44 (up from JP¥27.05 in 2Q 2024). Revenue: JP¥9.42b (up 19% from 2Q 2024). Net income: JP¥603.0m (up 39% from 2Q 2024). Profit margin: 6.4% (up from 5.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Oct 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.0b (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥15.0b market cap, or US$98.6m). Annonce • Sep 26
Trinity Industrial Corporation to Report Q2, 2025 Results on Oct 31, 2024 Trinity Industrial Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 28 November 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (JP¥13.0b market cap, or US$91.0m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to JP¥805, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 2.5% over the past three years. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥9.94 (vs JP¥14.01 in 1Q 2024) First quarter 2025 results: EPS: JP¥9.94 (down from JP¥14.01 in 1Q 2024). Revenue: JP¥8.66b (up 15% from 1Q 2024). Net income: JP¥160.0m (down 29% from 1Q 2024). Profit margin: 1.8% (down from 3.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Declared Dividend • Jul 11
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 27th September 2024 Payment date: 28th November 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Jun 26
Trinity Industrial Corporation to Report Q1, 2025 Results on Jul 29, 2024 Trinity Industrial Corporation announced that they will report Q1, 2025 results on Jul 29, 2024 Reported Earnings • Apr 25
Full year 2024 earnings released: EPS: JP¥128 (vs JP¥78.12 in FY 2023) Full year 2024 results: EPS: JP¥128 (up from JP¥78.12 in FY 2023). Revenue: JP¥37.0b (up 27% from FY 2023). Net income: JP¥2.06b (up 62% from FY 2023). Profit margin: 5.6% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 19
Now 21% undervalued Over the last 90 days, the stock has risen 23% to JP¥1,194. The fair value is estimated to be JP¥1,520, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Apr 02
Now 22% undervalued Over the last 90 days, the stock has risen 36% to JP¥1,186. The fair value is estimated to be JP¥1,516, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years, while earnings per share has been flat. Annonce • Mar 27
Trinity Industrial Corporation to Report Fiscal Year 2024 Results on Apr 24, 2024 Trinity Industrial Corporation announced that they will report fiscal year 2024 results on Apr 24, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥49.66 (vs JP¥17.88 in 3Q 2023) Third quarter 2024 results: EPS: JP¥49.66 (up from JP¥17.88 in 3Q 2023). Revenue: JP¥9.78b (up 40% from 3Q 2023). Net income: JP¥799.0m (up 178% from 3Q 2023). Profit margin: 8.2% (up from 4.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Dec 27
Trinity Industrial Corporation to Report Q3, 2024 Results on Jan 31, 2024 Trinity Industrial Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥27.05 (vs JP¥25.29 in 2Q 2023) Second quarter 2024 results: EPS: JP¥27.05 (up from JP¥25.29 in 2Q 2023). Revenue: JP¥7.90b (up 18% from 2Q 2023). Net income: JP¥435.0m (up 5.3% from 2Q 2023). Profit margin: 5.5% (down from 6.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Annonce • Sep 27
Trinity Industrial Corporation to Report Q2, 2024 Results on Oct 31, 2023 Trinity Industrial Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥15.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Reported Earnings • Jul 27
First quarter 2024 earnings released: EPS: JP¥14.01 (vs JP¥6.33 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥14.01 (up from JP¥6.33 loss in 1Q 2023). Revenue: JP¥7.51b (up 17% from 1Q 2023). Net income: JP¥225.0m (up JP¥329.0m from 1Q 2023). Profit margin: 3.0% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Jun 26
Trinity Industrial Corporation to Report Q1, 2024 Results on Jul 26, 2023 Trinity Industrial Corporation announced that they will report Q1, 2024 results on Jul 26, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥78.12 (vs JP¥110 in FY 2022) Full year 2023 results: EPS: JP¥78.12 (down from JP¥110 in FY 2022). Revenue: JP¥29.0b (down 15% from FY 2022). Net income: JP¥1.27b (down 30% from FY 2022). Profit margin: 4.4% (down from 5.3% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share at 5.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥17.88 (vs JP¥28.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥17.88 (down from JP¥28.23 in 3Q 2022). Revenue: JP¥7.00b (down 31% from 3Q 2022). Net income: JP¥287.0m (down 38% from 3Q 2022). Profit margin: 4.1% (down from 4.5% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 10% per year. Annonce • Dec 26
Trinity Industrial Corporation to Report Q3, 2023 Results on Feb 01, 2023 Trinity Industrial Corporation announced that they will report Q3, 2023 results on Feb 01, 2023 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 11 non-independent directors. Independent Outside Director Yoshiki Kaneko was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥25.29 (vs JP¥21.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥25.29 (up from JP¥21.49 in 2Q 2022). Revenue: JP¥6.68b (down 12% from 2Q 2022). Net income: JP¥413.0m (up 17% from 2Q 2022). Profit margin: 6.2% (up from 4.6% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 7% per year. Annonce • Sep 24
Trinity Industrial Corporation to Report Q2, 2023 Results on Oct 31, 2022 Trinity Industrial Corporation announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.4%). Annonce • Sep 01
Trinity Industrial Corporation (TSE:6382) announces an Equity Buyback for 450,000 shares, representing 2.74% for ¥301.05 million. Trinity Industrial Corporation (TSE:6382) announces a share repurchase program. Under the program, the company will repurchase 450,000 shares, representing 2.74% of its issued share capital, for ¥301.05 million. The shares will be repurchased at a price of ¥669 per share. The purpose of the program is to enhance capital efficiency and to implement a flexible capital policy in response to changes in the business environment. As of August 31, 2022, the company had 16,433,598 shares issued and 1,786,402 shares in treasury. Reported Earnings • Jul 30
First quarter 2023 earnings released: JP¥6.33 loss per share (vs JP¥25.43 profit in 1Q 2022) First quarter 2023 results: JP¥6.33 loss per share (down from JP¥25.43 profit in 1Q 2022). Revenue: JP¥6.41b (down 9.2% from 1Q 2022). Net loss: JP¥104.0m (down 125% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Buying Opportunity • May 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be JP¥797, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 3.1%. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥110 (vs JP¥98.78 in FY 2021) Full year 2022 results: EPS: JP¥110 (up from JP¥98.78 in FY 2021). Revenue: JP¥34.2b (down 3.4% from FY 2021). Net income: JP¥1.81b (up 12% from FY 2021). Profit margin: 5.3% (up from 4.6% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 11 non-independent directors. Independent Outside Director Yoshiki Kaneko was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 08
Trinity Industrial Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022 Trinity Industrial Corporation announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥28.23 (down from JP¥37.07 in 3Q 2021). Revenue: JP¥10.2b (up 9.3% from 3Q 2021). Net income: JP¥464.0m (down 24% from 3Q 2021). Profit margin: 4.5% (down from 6.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 02
Second quarter 2022 earnings released: EPS JP¥21.49 (vs JP¥14.02 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥7.63b (down 11% from 2Q 2021). Net income: JP¥353.0m (up 54% from 2Q 2021). Profit margin: 4.6% (up from 2.7% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 12% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.4%). Reported Earnings • Jul 29
First quarter 2022 earnings released: EPS JP¥25.43 (vs JP¥18.35 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥7.06b (down 12% from 1Q 2021). Net income: JP¥417.0m (up 39% from 1Q 2021). Profit margin: 5.9% (up from 3.8% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • May 01
Full year 2021 earnings released: EPS JP¥98.78 (vs JP¥118 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥35.4b (down 3.8% from FY 2020). Net income: JP¥1.62b (down 17% from FY 2020). Profit margin: 4.6% (down from 5.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 2.9%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Feb 24
New 90-day high: JP¥807 The company is up 20% from its price of JP¥675 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥769 The company is up 17% from its price of JP¥658 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 16% over the same period. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥37.07 (vs JP¥25.43 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥9.34b (up 3.5% from 3Q 2020). Net income: JP¥608.0m (up 46% from 3Q 2020). Profit margin: 6.5% (up from 4.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Annonce • Dec 27
Trinity Industrial Corporation to Report Q3, 2021 Results on Jan 29, 2021 Trinity Industrial Corporation announced that they will report Q3, 2021 results on Jan 29, 2021 Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 15% share price gain to JP¥765, the stock is trading at a trailing P/E ratio of 8.5x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 16x in the Machinery industry in Japan. Total return to shareholders over the past three years is a loss of 10%. Is New 90 Day High Low • Dec 02
New 90-day high: JP¥750 The company is up 14% from its price of JP¥658 on 03 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 18% over the same period. Annonce • Oct 10
Trinity Industrial Corporation to Report Q2, 2021 Results on Oct 30, 2020 Trinity Industrial Corporation announced that they will report Q2, 2021 results on Oct 30, 2020 Annonce • Jun 28
Trinity Industrial Corporation to Report Q1, 2021 Results on Jul 29, 2020 Trinity Industrial Corporation announced that they will report Q1, 2021 results on Jul 29, 2020 
