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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) 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 $420.0M, roughly 1.5× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 31.8%, a 25.2% gap on every dollar of revenue. On growth, Gaming & Leisure Properties, Inc. posted the faster year-over-year revenue change (6.3% vs -2.9%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% CAGR vs -13.1%).
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
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.
GLPI vs TRN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $611.2M |
| Net Profit | $239.4M | $194.2M |
| Gross Margin | — | 25.5% |
| Operating Margin | 79.4% | 54.9% |
| Net Margin | 57.0% | 31.8% |
| Revenue YoY | 6.3% | -2.9% |
| Net Profit YoY | 40.5% | 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 | $420.0M | — | ||
| Q4 25 | $407.0M | $611.2M | ||
| Q3 25 | $397.6M | $454.1M | ||
| Q2 25 | $394.9M | $506.2M | ||
| Q1 25 | $395.2M | $585.4M | ||
| Q4 24 | $389.6M | $629.4M | ||
| Q3 24 | $385.3M | $798.8M | ||
| Q2 24 | $380.6M | $841.4M |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $194.2M | ||
| Q3 25 | $241.2M | $30.3M | ||
| Q2 25 | $151.4M | $14.1M | ||
| Q1 25 | $165.2M | $22.1M | ||
| Q4 24 | $223.6M | $37.8M | ||
| Q3 24 | $184.7M | $31.4M | ||
| Q2 24 | $208.3M | $54.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 26.4% | ||
| Q1 25 | — | 24.3% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 21.3% |
| Q1 26 | 79.4% | — | ||
| Q4 25 | 89.3% | 54.9% | ||
| Q3 25 | 84.8% | 26.1% | ||
| Q2 25 | 61.3% | 18.8% | ||
| Q1 25 | 65.5% | 17.0% | ||
| Q4 24 | 79.1% | 17.8% | ||
| Q3 24 | 70.4% | 15.3% | ||
| Q2 24 | 77.1% | 16.9% |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | 31.8% | ||
| Q3 25 | 60.7% | 6.7% | ||
| Q2 25 | 38.4% | 2.8% | ||
| Q1 25 | 41.8% | 3.8% | ||
| Q4 24 | 57.4% | 6.0% | ||
| Q3 24 | 47.9% | 3.9% | ||
| Q2 24 | 54.7% | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $2.25 | ||
| Q3 25 | $0.85 | $0.37 | ||
| Q2 25 | $0.54 | $0.17 | ||
| Q1 25 | $0.60 | $0.26 | ||
| Q4 24 | $0.79 | $0.34 | ||
| Q3 24 | $0.67 | $0.37 | ||
| Q2 24 | $0.77 | $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 | $274.5M | $201.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.0B | $1.1B |
| Total Assets | $13.8B | $8.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $201.3M | ||
| Q3 25 | — | $66.3M | ||
| Q2 25 | — | $147.7M | ||
| Q1 25 | — | $94.9M | ||
| Q4 24 | $560.8M | $228.2M | ||
| Q3 24 | $560.8M | $222.4M | ||
| Q2 24 | $560.8M | $257.1M |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $1.1B | ||
| Q3 25 | $4.6B | $1.0B | ||
| Q2 25 | $4.6B | $1.0B | ||
| Q1 25 | $4.2B | $1.1B | ||
| Q4 24 | $4.3B | $1.1B | ||
| Q3 24 | $4.3B | $1.1B | ||
| Q2 24 | $4.1B | $1.1B |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $8.4B | ||
| Q3 25 | $12.8B | $8.9B | ||
| Q2 25 | $12.5B | $8.8B | ||
| Q1 25 | $12.1B | $8.7B | ||
| Q4 24 | $13.1B | $8.8B | ||
| Q3 24 | $12.7B | $8.8B | ||
| Q2 24 | $11.8B | $9.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
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 | $1.1B | $177.4M | ||
| Q3 25 | $240.3M | $44.2M | ||
| Q2 25 | $293.4M | $61.6M | ||
| Q1 25 | $252.5M | $76.5M | ||
| Q4 24 | $1.1B | $201.6M | ||
| Q3 24 | $270.4M | $78.5M | ||
| Q2 24 | $252.1M | $241.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $158.6M | ||
| Q3 25 | $183.0M | $35.3M | ||
| Q2 25 | $272.3M | $52.9M | ||
| Q1 25 | $239.6M | $67.3M | ||
| Q4 24 | $1.1B | $180.1M | ||
| Q3 24 | $261.5M | $62.1M | ||
| Q2 24 | $245.0M | $230.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.9% | ||
| Q3 25 | 46.0% | 7.8% | ||
| Q2 25 | 69.0% | 10.5% | ||
| Q1 25 | 60.6% | 11.5% | ||
| Q4 24 | 275.3% | 28.6% | ||
| Q3 24 | 67.9% | 7.8% | ||
| Q2 24 | 64.4% | 27.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.1% | ||
| Q3 25 | 14.4% | 2.0% | ||
| Q2 25 | 5.3% | 1.7% | ||
| Q1 25 | 3.3% | 1.6% | ||
| Q4 24 | 0.0% | 3.4% | ||
| Q3 24 | 2.3% | 2.1% | ||
| Q2 24 | 1.9% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | 0.91× | ||
| Q3 25 | 1.00× | 1.46× | ||
| Q2 25 | 1.94× | 4.37× | ||
| Q1 25 | 1.53× | 3.46× | ||
| Q4 24 | 4.80× | 5.33× | ||
| Q3 24 | 1.46× | 2.50× | ||
| Q2 24 | 1.21× | 4.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLPI
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% |
