NasdaqGS:TRS

Stock Analysis Report

Executive Summary

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide.

Rewards

PE ratio (16.8x) is below the US market (18.4x)

Earnings are forecast to grow 3.66% per year

Earnings grew by 22.9% over the past year

Risk Analysis

Has a high level of debt



Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

How has TriMas's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TRS has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.8%

TRS

1.0%

US Machinery

0.9%

US Market


1 Year Return

-10.1%

TRS

11.5%

US Machinery

20.0%

US Market

Return vs Industry: TRS underperformed the US Machinery industry which returned 11.4% over the past year.

Return vs Market: TRS underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

TRSIndustryMarket
7 Day-0.8%1.0%0.9%
30 Day-9.9%-2.1%1.4%
90 Day-7.0%2.4%8.8%
1 Year-10.1%-10.1%13.6%11.5%22.5%20.0%
3 Year23.9%23.9%37.0%28.3%49.9%40.3%
5 Year21.3%-3.3%63.5%44.3%73.2%54.1%

Price Volatility Vs. Market

How volatile is TriMas's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TriMas undervalued compared to its fair value and its price relative to the market?

16.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TRS ($28.44) is trading above our estimate of fair value ($25.6)

Significantly Below Fair Value: TRS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TRS is good value based on its PE Ratio (16.8x) compared to the Machinery industry average (21.4x).

PE vs Market: TRS is good value based on its PE Ratio (16.8x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: TRS is poor value based on its PEG Ratio (4.6x)


Price to Book Ratio

PB vs Industry: TRS is good value based on its PB Ratio (1.9x) compared to the US Machinery industry average (2.2x).


Next Steps

Future Growth

How is TriMas forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

3.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TRS's forecast earnings growth (3.7% per year) is above the savings rate (1.7%).

Earnings vs Market: TRS's earnings (3.7% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: TRS's earnings are forecast to grow, but not significantly.

Revenue vs Market: TRS's revenue is expected to decline over the next 3 years (-8% per year).

High Growth Revenue: TRS's revenue is forecast to decline over the next 3 years (-8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TRS's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has TriMas performed over the past 5 years?

24.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TRS has high quality earnings.

Growing Profit Margin: TRS's current net profit margins (8.5%) are higher than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: TRS's earnings have grown significantly by 24.6% per year over the past 5 years.

Accelerating Growth: TRS's earnings growth over the past year (22.9%) is below its 5-year average (24.6% per year).

Earnings vs Industry: TRS earnings growth over the past year (22.9%) exceeded the Machinery industry 0.9%.


Return on Equity

High ROE: TRS's Return on Equity (11.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is TriMas's financial position?


Financial Position Analysis

Short Term Liabilities: TRS's short term assets ($394.6M) exceed its short term liabilities ($135.3M).

Long Term Liabilities: TRS's short term assets ($394.6M) exceed its long term liabilities ($387.9M).


Debt to Equity History and Analysis

Debt Level: TRS's debt to equity ratio (44.5%) is considered high.

Reducing Debt: TRS's debt to equity ratio has reduced from 57.4% to 44.5% over the past 5 years.

Debt Coverage: TRS's debt is well covered by operating cash flow (37.5%).

Interest Coverage: TRS's interest payments on its debt are well covered by EBIT (9.4x coverage).


Balance Sheet

Inventory Level: TRS has a high level of physical assets or inventory.

Debt Coverage by Assets: TRS's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is TriMas's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TRS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TRS's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TRS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TRS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TRS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure


CEO

Tom Amato (56yo)

3.6yrs

Tenure

US$4,074,561

Compensation

Mr. Thomas A. Amato, also known as Tom, has been the Chief Executive Officer and President at TriMas Corporation since July 28, 2016. Mr. Amato has more than 25 years of broad industrial experience. He has ...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD4.07M) is about average for companies of similar size in the US market ($USD3.78M).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Amato
President3.6yrsUS$4.07m0.21% $2.8m
Robert Zalupski
Chief Financial Officer5.1yrsUS$1.57m0.16% $2.1m
Joshua Sherbin
Chief Compliance Officer15.1yrsUS$1.29m0.13% $1.7m
Al Malizia
Vice President of Operations2yrsno datano data
Paul Swart
Chief Accounting Officer7.5yrsno data0.048% $613.6k
Sherry Lauderback
Vice President of Investor Relations & Communications12.3yrsno datano data
David Pritchett
President of Packaging6.1yrsno datano data
Charles Manz
President of Norris Cylinder - Engineered Components5.1yrsno datano data
Marc Roberts
President of Energy Segment3.8yrsno datano data
John Schaefer
President of Aerospace3.2yrsno datano data

5.1yrs

Average Tenure

56yo

Average Age

Experienced Management: TRS's management team is seasoned and experienced (5.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Amato
President3.6yrsUS$4.07m0.21% $2.8m
Daniel Tredwell
Independent Director17.7yrsUS$219.00k0.078% $997.7k
Eugene Miller
Independent Director15.1yrsUS$224.00k0.22% $2.9m
Samuel Valenti
Chairman of the Board17.7yrsUS$351.00k0.054% $697.9k
Nick Stanage
Independent Director6.3yrsUS$218.00k0.064% $817.3k
Jeffrey Greene
Independent Director1.2yrsUS$5.44k0.011% $142.9k
Herbert Parker
Independent Director5yrsUS$218.00k0.077% $983.9k
Teresa Finley
Director0yrsno datano data
Holly Boehne
Director0yrsno datano data

6.3yrs

Average Tenure

60yo

Average Age

Experienced Board: TRS's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TRS insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TriMas Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TriMas Corporation
  • Ticker: TRS
  • Exchange: NasdaqGS
  • Founded: 1986
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: US$1.281b
  • Shares outstanding: 45.05m
  • Website: https://www.trimascorp.com

Number of Employees


Location

  • TriMas Corporation
  • 38505 Woodward Avenue
  • Suite 200
  • Bloomfield Hills
  • Michigan
  • 48304
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TRSNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMay 2007
MQ1DB (Deutsche Boerse AG)YesCommon StockDEEURMay 2007

Biography

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs, manufactures, and sells specialty closure products, including steel and plastic drum closures, plastic pail dispensers and plugs, and plastic enclosures; specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, airless dispensers, and other packaging solutions for the cosmetic, personal care, and household product markets; and specialty plastic closures for bottles and jars in the food and beverage markets under the Rieke name. The Aerospace segment offers fasteners, collars, blind bolts, rivets, and precision-machined components to original equipment manufacturers, supply chain distributors, MRO/aftermarket providers, and tier one suppliers for commercial; maintenance, repair, and operations (MRO); and military aerospace applications and platforms under the TriMas Aerospace, Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, and Martinic Engineering brands. The Specialty Products segment offers steel cylinders for use in the transportation, storage, and dispensing of compressed gases under the Norris Cylinder name; industrial sealing, fastener, and specialty products for the petrochemical, petroleum refining, oil field, water/waste water treatment, and other industrial markets under the Lamons name; and various natural gas powered wellhead engines, compressors, and replacement parts for use in oil and natural gas production, and other industrial and commercial markets under the Arrow Engine name. The company sells its products through a direct sales force, third-party agents, distributors, and licensees. TriMas Corporation was founded in 1986 is headquartered in Bloomfield Hills, Michigan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 00:14
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.