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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and TRINITY INDUSTRIES INC (TRN). Click either name above to swap in a different company.
TRINITY INDUSTRIES INC is the larger business by last-quarter revenue ($611.2M vs $360.3M, roughly 1.7× Clearwater Paper Corp). TRINITY INDUSTRIES INC runs the higher net margin — 31.8% vs -3.6%, a 35.3% gap on every dollar of revenue. On growth, TRINITY INDUSTRIES INC posted the faster year-over-year revenue change (-2.9% vs -4.7%). Over the past eight quarters, Clearwater Paper Corp's revenue compounded faster (2.3% CAGR vs -13.1%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors.
CLW vs TRN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $611.2M |
| Net Profit | $-12.8M | $194.2M |
| Gross Margin | -0.2% | 25.5% |
| Operating Margin | — | 54.9% |
| Net Margin | -3.6% | 31.8% |
| Revenue YoY | -4.7% | -2.9% |
| Net Profit YoY | -103.2% | 413.8% |
| EPS (diluted) | — | $2.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $360.3M | — | ||
| Q4 25 | $386.4M | $611.2M | ||
| Q3 25 | $399.0M | $454.1M | ||
| Q2 25 | $391.8M | $506.2M | ||
| Q1 25 | $378.2M | $585.4M | ||
| Q4 24 | $387.1M | $629.4M | ||
| Q3 24 | $393.3M | $798.8M | ||
| Q2 24 | $344.4M | $841.4M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $194.2M | ||
| Q3 25 | $-53.3M | $30.3M | ||
| Q2 25 | $2.7M | $14.1M | ||
| Q1 25 | $-6.3M | $22.1M | ||
| Q4 24 | $199.1M | $37.8M | ||
| Q3 24 | $5.8M | $31.4M | ||
| Q2 24 | $-25.8M | $54.4M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 25.5% | ||
| Q3 25 | 4.7% | 31.1% | ||
| Q2 25 | 11.0% | 26.4% | ||
| Q1 25 | 9.7% | 24.3% | ||
| Q4 24 | 3.8% | 24.6% | ||
| Q3 24 | 7.7% | 21.2% | ||
| Q2 24 | -0.6% | 21.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 54.9% | ||
| Q3 25 | -13.9% | 26.1% | ||
| Q2 25 | 2.5% | 18.8% | ||
| Q1 25 | -1.1% | 17.0% | ||
| Q4 24 | -4.0% | 17.8% | ||
| Q3 24 | -0.3% | 15.3% | ||
| Q2 24 | -13.6% | 16.9% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 31.8% | ||
| Q3 25 | -13.4% | 6.7% | ||
| Q2 25 | 0.7% | 2.8% | ||
| Q1 25 | -1.7% | 3.8% | ||
| Q4 24 | 51.4% | 6.0% | ||
| Q3 24 | 1.5% | 3.9% | ||
| Q2 24 | -7.5% | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $2.25 | ||
| Q3 25 | $-3.30 | $0.37 | ||
| Q2 25 | $0.17 | $0.17 | ||
| Q1 25 | $-0.38 | $0.26 | ||
| Q4 24 | $11.87 | $0.34 | ||
| Q3 24 | $0.35 | $0.37 | ||
| Q2 24 | $-1.55 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.5M | $201.3M |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $1.1B |
| Total Assets | $1.6B | $8.4B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $201.3M | ||
| Q3 25 | $34.4M | $66.3M | ||
| Q2 25 | $46.7M | $147.7M | ||
| Q1 25 | $44.0M | $94.9M | ||
| Q4 24 | $79.6M | $228.2M | ||
| Q3 24 | $35.5M | $222.4M | ||
| Q2 24 | $39.6M | $257.1M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $1.1B | ||
| Q3 25 | $783.0M | $1.0B | ||
| Q2 25 | $836.8M | $1.0B | ||
| Q1 25 | $836.6M | $1.1B | ||
| Q4 24 | $854.6M | $1.1B | ||
| Q3 24 | $664.6M | $1.1B | ||
| Q2 24 | $658.6M | $1.1B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $8.4B | ||
| Q3 25 | $1.6B | $8.9B | ||
| Q2 25 | $1.6B | $8.8B | ||
| Q1 25 | $1.6B | $8.7B | ||
| Q4 24 | $1.7B | $8.8B | ||
| Q3 24 | $2.5B | $8.8B | ||
| Q2 24 | $2.5B | $9.0B |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $177.4M |
| Free Cash FlowOCF − Capex | — | $158.6M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | — | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $314.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $177.4M | ||
| Q3 25 | $34.0M | $44.2M | ||
| Q2 25 | $-28.2M | $61.6M | ||
| Q1 25 | $1.5M | $76.5M | ||
| Q4 24 | $-35.1M | $201.6M | ||
| Q3 24 | $16.2M | $78.5M | ||
| Q2 24 | $21.1M | $241.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $158.6M | ||
| Q3 25 | $15.7M | $35.3M | ||
| Q2 25 | $-51.1M | $52.9M | ||
| Q1 25 | $-31.2M | $67.3M | ||
| Q4 24 | $-68.1M | $180.1M | ||
| Q3 24 | $-30.8M | $62.1M | ||
| Q2 24 | $3.0M | $230.2M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 25.9% | ||
| Q3 25 | 3.9% | 7.8% | ||
| Q2 25 | -13.0% | 10.5% | ||
| Q1 25 | -8.2% | 11.5% | ||
| Q4 24 | -17.6% | 28.6% | ||
| Q3 24 | -7.8% | 7.8% | ||
| Q2 24 | 0.9% | 27.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 3.1% | ||
| Q3 25 | 4.6% | 2.0% | ||
| Q2 25 | 5.8% | 1.7% | ||
| Q1 25 | 8.6% | 1.6% | ||
| Q4 24 | 8.5% | 3.4% | ||
| Q3 24 | 12.0% | 2.1% | ||
| Q2 24 | 5.3% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 0.91× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | -10.44× | 4.37× | ||
| Q1 25 | — | 3.46× | ||
| Q4 24 | -0.18× | 5.33× | ||
| Q3 24 | 2.79× | 2.50× | ||
| Q2 24 | — | 4.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
