TRIMAS CORP

Listed Company

TRSCIK 0000842633NasdaqLarge AcceleratedMetal Forgings & StampingsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$645.72M

Net Income

$120.14M

Total Assets

$1.49B

Equity

$705.59M

Shares Out

35.83M

Op. Cash Flow

$117.45M

Business

TRIMAS CORP designs, develops and manufactures engineered products for the consumer products, aerospace & defense and industrial markets. It provides specialty polymeric and steel closures and dispensing systems, precision injection‑molded life‑sciences components, engineered aerospace fasteners and formed metal assemblies, air management ducting, and steel gas cylinders (and historically distributed natural gas‑powered engines). The company reports three operating segments: Packaging, Aerospace and Specialty Products, each with distinct brand portfolios. TriMas serves global customers via manufacturing, sales and distribution networks, selling directly and through distributors and agents.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	646	631	652	884	857
Cost of sales	−508	−501	−499	−676	−640
Gross profit	138	130	153	208	217
Selling, general and administrative expenses	−129	−110	−102	−131	−122
Asbestos-related benefit (costs), net	28	−6	—	—	—
Net gain (loss) on dispositions of assets	5	1	−180,000	22	−130,000
Impairment of indefinite-lived intangible assets	0	−200,000	0	0	0
Operating profit (loss)	41	15	51	99	95
Interest expense	−18	−20	−16	−14	—
Other income (expense), net	990,000	210,000	1	3	−950,000
Other expense, net	−17	−19	−15	−11	−26
Income (loss) before income taxes	24	−4	36	88	69
Income tax benefit (expense)	48	2	−6	−22	−12
Income (loss) from continuing operations	72	−2	30	—	57
Income from discontinued operations, net of income taxes	48	26	11	—	0
Net income (loss)	120	24	40	66	57
Continuing operations	1.79	−0.05	0.71	—	1.33
Discontinued operations	1.18	0.65	0.26	—	0
Net income (loss) per share	2.97	0.6	0.97	1.57	1.33
Weighted average common sharesbasic	40	41	41	42	43
Continuing operations	1.78	−0.05	0.71	—	1.32
Discontinued operations	1.17	0.65	0.26	—	0
Net income (loss) per share	2.95	0.6	0.97	1.56	1.32
Weighted average common sharesdiluted	41	41	42	42	43

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	30	23	35	112	141
Receivables, net	111	116	148	132	126
Inventories	109	110	192	163	152
Prepaid expenses and other current assets	36	27	22	15	13
Current assets, held for sale	176	150	—	—	—
Total current assets	463	427	397	423	432
Property and equipment, net	248	238	330	278	266
Operating lease right-of-use assets	32	32	43	47	51
Goodwill	300	287	294	340	315
Other intangibles, net	77	78	181	188	197
Deferred income taxes	54	11	10	9	10
Other assets	45	9	16	20	34
Non-current assets, held for sale	267	242	—	—	—
Total assets	1,485	1,324	1,342	1,305	1,304
Accounts payable	72	72	92	85	88
Accrued liabilities	60	43	60	47	59
Lease liabilities, current portion	4	6	8	8	—
Current liabilities, held for sale	48	38	—	—	—
Total current liabilities	184	159	159	140	155
Long-term debt, net	469	398	396	395	394
Lease liabilities	32	30	40	41	—
Deferred income taxes	18	18	23	21	21
Other long-term liabilities	66	42	41	56	59
Non-current liabilities, held for sale	11	9	—	—	—
Total liabilities	779	657	659	653	673
Preferred stock $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None	0	0	0	0	0
Common stock, $0.01 par: Authorized 400,000,000 shares; Issued and outstanding: 37,630,206 shares at December 31, 2025 and 40,574,847 shares at December 31, 2024	380,000	410,000	410,000	420,000	430,000
Paid-in capital	578	664	678	696	732
Retained earnings	127	22	4	−36	−102
Accumulated other comprehensive income (loss)	−10,000	−19	650,000	−9	230,000
Total shareholders' equity	706	667	683	652	631
Total liabilities and shareholders' equity	1,485	1,324	1,342	1,305	1,304

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	230,000	1	—	—
(Gain) loss on dispositions of assets	−5	−1	180,000	−22	130,000
Depreciation	40	48	39	34	32
Amortization of intangible assets	17	17	18	19	22
Amortization of debt issue costs	1	1	900,000	900,000	1
Deferred income taxes	−37	−3	−2	−1	2
Non-cash compensation expense	12	7	10	10	10
Provision for losses on accounts receivable	−1	−1	2	0	0
Asbestos-related (benefit) costs, net	−28	6	0	6	1
Provision for environmental liabilities	7	3	0	0	—
(Increase) decrease in receivables	2	−21	−6	−7	−11
Increase in inventories	−4	−21	−7	−7	−960,000
Increase (Decrease) in Prepaid Expense and Other Assets	4	−2	5	6	5
Increase (decrease) in accounts payable and accrued liabilities	−2	560,000	−15	−29	2
Other operating activities	−7	6	−80,000	−3	4
Net cash provided by operating activities	117	64	88	73	134
Capital expenditures	−48	−51	−54	−46	−45
Acquisition of businesses, net of cash acquired	−38	0	−77	−64	−34
Cross-currency swap terminations	0	−4	−3	26	0
Settlement of foreign currency exchange forward contract	0	4	0	0	—
Net proceeds from dispositions businesses, property and equipment	22	4	480,000	29	220,000
Net cash used for investing activities	−64	−47	−134	−55	−79
Proceeds from borrowings on revolving credit facilities	356	309	118	12	0
Repayments of borrowings on revolving credit facilities	−290	−308	−117	−12	−49
Debt financing fees and senior notes redemption premium	−1	0	0	0	−14
Payments to purchase common stock	−103	−19	−19	−37	−19
Shares surrendered upon exercise and vesting of equity awards to cover taxes	−2	−2	−3	−2	−5
Dividends paid	−7	−7	−7	−7	−2
Other financing activities	290,000	−2	−3	0	0
Net cash provided by (used for) financing activities	−46	−29	−31	−46	12
Increase (decrease) for the year	7	−12	−77	−29	67
Cash paid for interest	19	19	14	13	13
Cash paid for income taxes	11	12	17	20	11
Non-cash property additions	5	0	0	—	—

Filings

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