TRTN-PA Triton International Ltd

Overview and Growth

Fiscal 2025 results for Triton International Ltd combined $59.51M of revenue with net income of $508.38M and an operating cash inflow of $972.06M. Revenue of $59.51M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 22.4% above fiscal 2024 revenue of $48.64M, marking a year-over-year increase. Total assets stood at $9.81B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.01x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $2.15M as gross profit before recognizing operating expenses and other items. Gross profit represented 3.6% of revenue, showing how much of the top line remained after direct costs. Operations produced $817.41M of income after the reported operating expense base, before the remaining non-operating and tax effects. The bottom-line result was net income of $508.38M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 854.3% margin after operating costs and the remaining recognized items. EBITDA was $1.20B, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. The earnings statement records $553.86M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 930.7%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $45.48M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 8.2% of pretax income, showing the tax burden absorbed by the year’s earnings. Return on period-end equity was 19.7%, relating annual net income to the equity capital on the balance sheet. Net income represented 5.2% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Against $518.20M in fiscal 2024, the current $508.38M bottom line finished below the prior-year result in absolute terms.

Liquidity and Capital Structure

The company held $9.81B of assets against $7.23B of liabilities and $2.59B of equity, revealing how the asset base was financed. The company held $40.32M in cash and equivalents, a narrower liquidity measure than total current assets. Total debt was $6.61B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 2.56x of book equity, describing the relative scale of borrowing and shareholder capital. Debt represented 67.3% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 26.3% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 73.7% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 0.4%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 11.6% lower than fiscal 2024 assets of $11.10B, measuring the company’s own balance-sheet change. Against $2.81B of equity in fiscal 2024, the current book-equity balance moved 8.0% and ended lower. The reported cash balance changed 30.7% from $58.23M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $972.06M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 1.91x of net income, showing how strongly accounting earnings converted into cash from operations. Operating cash flow of $972.06M finished below fiscal 2024 operating cash flow of $1.11B, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.