TriMas Corporation (TRS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-70.1%

$11.93

vs $39.92 price

Levered DCF

$6.70

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.33

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.94×	40.98×	26.11×	17.67×	27.82×	-17.31×	22.93×	14.99×
P/B	2.03×	1.5×	1.54×	1.8×	2.52×	2.36×	2.04×	2.02×
P/S	2.22×	1.59×	1.17×	1.33×	1.86×	1.79×	1.97×	1.77×
EV / EBITDA	19.2×	17.7×	11.75×	9.7×	13.83×	14.42×	11.67×	9.61×
Gross margin	20.3%	19.5%	21.8%	22.0%	23.6%	23.7%	24.7%	26.3%
Operating margin	2.2%	3.3%	8.6%	9.3%	12.2%	8.8%	12.6%	15.4%
Net margin	18.6%	3.8%	4.5%	7.5%	6.7%	-10.4%	13.6%	11.8%
Current ratio	2.52×	2.68×	2.49×	3.02×	2.79×	2.56×	3.62×	2.91×
Debt / equity	0.72×	0.66×	0.65×	0.68×	0.71×	0.66×	0.46×	0.47×
Interest coverage	0.78×	1.06×	4.84×	5.81×	7.23×	4.6×	6.55×	7.83×
Dividend yield	0.5%	0.7%	0.6%	0.6%	0.1%	0.0%	0.0%	0.0%
Payout ratio	5.5%	27.3%	16.6%	10.4%	3.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.0%	3.6%	5.9%	10.2%	9.1%	-13.7%	14.1%	13.4%
Return on invested capital	1.1%	0.8%	5.2%	5.3%	7.5%	4.9%	6.7%	9.1%
Return on assets	8.1%	1.8%	3.0%	5.1%	4.4%	-6.7%	8.3%	7.6%
Free cash flow yield	4.8%	1.3%	3.2%	2.3%	5.6%	6.3%	3.2%	8.3%
Earnings yield	8.4%	2.4%	3.8%	5.6%	3.6%	-5.8%	6.9%	6.7%
Enterprise value	$1.9B	$1.4B	$1.5B	$1.5B	$1.9B	$1.7B	$1.6B	$1.4B
Net debt / EBITDA	4.78×	5.23×	3.29×	2.14×	2.22×	2.65×	1.12×	1.24×
Cash conversion cycle (days)	89	180	113	96	90	103	95	125