Added to YB: 2026-05-12
Pitch date: 2026-05-09
TRS [bullish]
TriMas Corporation
-2.65%
current return
Author Info
Waver has been an investor for 15 years and is the author of the book Investing with Eagles. He invests only in a few quality companies with high moats. Focusing on strong fundamentals, growth prospects and price. Sign up for the newsletter.
Company Info
TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace and defense, and industrial markets worldwide.
Market Cap
$1.5B
Pitch Price
$42.72
Price Target
46.50 (+9%)
Dividend
0.37%
EV/EBITDA
9.20
P/E
90.88
EV/Sales
1.02
Sector
Containers and Packaging
Category
value
Blackstone Just Paid 18x EBITDA for Part of This Company. The Rest Trades at Nearly Nothing - TriMas Corporation
TRS: Sold aerospace for $1.45B cash, netting $1.2B. Now holds $913M net cash (~$25/sh) vs $1.42B mkt cap. Operating biz (packaging/cylinders) valued at $507M EV (0.78x rev vs peers at 1.2-2x). Blackstone paid 18x EBITDA for aerospace unit; packaging worth $800M-$1B but priced at $508M. 2026 EPS guide $1.60; ex-cash P/E ~10x. Bought back 11% float in 6mo. Risk: bad M&A destroys value. Base case: re-rate to 1.2x EV/rev = $46.50 (+19%) in 12-24mo.
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