TriMas (TRS)
Market Price (10/28/2026): $39.485 | Market Cap: $1.4 BilSector: Materials | Industry: Metal, Glass & Plastic Containers
TriMas (TRS)
Market Price (10/28/2026): $39.485Market Cap: $1.4 BilSector: MaterialsIndustry: Metal, Glass & Plastic Containers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 64%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 60% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -57% Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Hydrogen Economy, and Advanced Aviation & Space. Themes include Sustainable Packaging Materials, Show more. | Weak multi-year price returns3Y Excs Rtn is -9.2% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.66 | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.6% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 60x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 70x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -18% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.4% Key risksTRS key risks include [1] pressure to justify its premium valuation with significant earnings acceleration, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 64%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 60% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -57% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Circular Economy & Recycling, Hydrogen Economy, and Advanced Aviation & Space. Themes include Sustainable Packaging Materials, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -9.2% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.66 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.6% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 60x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 70x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -18% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.4% |
| Key risksTRS key risks include [1] pressure to justify its premium valuation with significant earnings acceleration, Show more. |
Qualitative Assessment
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TriMas (TRS) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. TriMas experienced a significant stock drop following its Q2 2026 earnings report, primarily due to a revenue miss.
On July 30, 2026, TriMas reported net sales of $174.6 million for the second fiscal quarter ended June 30, 2026, falling short of the consensus analyst estimate of $178.44 million by approximately 2.15%. Despite beating adjusted earnings per share (EPS) expectations ($0.52 actual vs. $0.47 estimated) and raising the low end of its full-year adjusted EPS guidance, the market reaction indicated that investors largely focused on the sales shortfall and operational challenges, leading to an 8.26% decline in premarket trading.
2. Flat organic sales and operational inefficiencies in key segments contributed to investor concerns.
While net sales saw a modest increase of 1.6% year-over-year in fiscal Q2 2026, organic sales remained essentially flat, indicating underlying demand weakness. The Packaging segment, which generates the majority of TriMas's revenue, delivered stable operating profit, but sales were flat, especially in beauty, personal care, food, and beverage applications. Additionally, the Specialty Products segment, despite a 10.2% increase in sales, saw its profitability negatively impacted by staffing and throughput problems.
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TriMas (TRS) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. TriMas experienced a significant stock drop following its Q2 2026 earnings report, primarily due to a revenue miss.
On July 30, 2026, TriMas reported net sales of $174.6 million for the second fiscal quarter ended June 30, 2026, falling short of the consensus analyst estimate of $178.44 million by approximately 2.15%. Despite beating adjusted earnings per share (EPS) expectations ($0.52 actual vs. $0.47 estimated) and raising the low end of its full-year adjusted EPS guidance, the market reaction indicated that investors largely focused on the sales shortfall and operational challenges, leading to an 8.26% decline in premarket trading.
2. Flat organic sales and operational inefficiencies in key segments contributed to investor concerns.
While net sales saw a modest increase of 1.6% year-over-year in fiscal Q2 2026, organic sales remained essentially flat, indicating underlying demand weakness. The Packaging segment, which generates the majority of TriMas's revenue, delivered stable operating profit, but sales were flat, especially in beauty, personal care, food, and beverage applications. Additionally, the Specialty Products segment, despite a 10.2% increase in sales, saw its profitability negatively impacted by staffing and throughput problems.
3. Broader macroeconomic uncertainty and consumer spending pressures weighed on sales growth.
TriMas acknowledged that its modest sales growth reflected "continued macroeconomic uncertainty and consumer spending pressures". While the broader industrial sector faced some tailwinds like AI-driven infrastructure and pro-CapEx policies in fiscal Q3 2026, it also contended with persistent headwinds such as tariff uncertainty, raw material price volatility, and geopolitical disruptions to logistics networks. The manufacturing industry generally experienced strong output growth with declining employment due to increased productivity and automation, which could imply a challenging demand environment for certain products.
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Stock Movement Drivers
Fundamental Drivers
The -12.2% change in TRS stock from 6/30/2026 to 10/27/2026 was primarily driven by a -15.5% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10272026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.99 | 39.51 | -12.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 469 | 472 | 0.6% |
| Net Income Margin (%) | 193.6% | 191.7% | -1.0% |
| P/E Multiple | 1.9 | 1.6 | -15.5% |
| Shares Outstanding (Mil) | 37 | 36 | 4.3% |
| Cumulative Contribution | -12.2% |
Market Drivers
6/30/2026 to 10/27/2026| Return | Correlation | |
|---|---|---|
| TRS | -12.2% | |
| Market (SPY) | 3.1% | 6.8% |
| Sector (XLB) | 1.9% | 13.0% |
Fundamental Drivers
The 10.1% change in TRS stock from 3/31/2026 to 10/27/2026 was primarily driven by a 623.7% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10272026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.87 | 39.51 | 10.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 454 | 472 | 4.1% |
| Net Income Margin (%) | 26.5% | 191.7% | 623.7% |
| P/E Multiple | 11.8 | 1.6 | -86.8% |
| Shares Outstanding (Mil) | 40 | 36 | 10.5% |
| Cumulative Contribution | 10.1% |
Market Drivers
3/31/2026 to 10/27/2026| Return | Correlation | |
|---|---|---|
| TRS | 10.1% | |
| Market (SPY) | 18.7% | 29.4% |
| Sector (XLB) | 4.0% | 33.4% |
Fundamental Drivers
The 2.7% change in TRS stock from 9/30/2025 to 10/27/2026 was primarily driven by a 2404.6% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10272026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.48 | 39.51 | 2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 487 | 472 | -3.1% |
| Net Income Margin (%) | 7.7% | 191.7% | 2404.6% |
| P/E Multiple | 41.9 | 1.6 | -96.3% |
| Shares Outstanding (Mil) | 41 | 36 | 13.3% |
| Cumulative Contribution | 2.7% |
Market Drivers
9/30/2025 to 10/27/2026| Return | Correlation | |
|---|---|---|
| TRS | 2.7% | |
| Market (SPY) | 16.5% | 36.8% |
| Sector (XLB) | 17.1% | 36.1% |
Fundamental Drivers
The 62.3% change in TRS stock from 9/30/2023 to 10/27/2026 was primarily driven by a 3371.8% change in the company's Net Income Margin (%).| (LTM values as of) | 9302023 | 10272026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.34 | 39.51 | 62.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 870 | 472 | -45.8% |
| Net Income Margin (%) | 5.5% | 191.7% | 3371.8% |
| P/E Multiple | 21.0 | 1.6 | -92.5% |
| Shares Outstanding (Mil) | 41 | 36 | 15.6% |
| Cumulative Contribution | 62.3% |
Market Drivers
9/30/2023 to 10/27/2026| Return | Correlation | |
|---|---|---|
| TRS | 62.3% | |
| Market (SPY) | 86.2% | 41.0% |
| Sector (XLB) | 39.0% | 44.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TRS Return | 17% | -25% | -8% | -2% | 45% | 11% | 28% |
| Peers Return | 8% | 7% | 34% | 44% | 19% | -3% | 158% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 103% |
Monthly Win Rates [3] | |||||||
| TRS Win Rate | 58% | 25% | 33% | 42% | 58% | 50% | |
| Peers Win Rate | 48% | 47% | 63% | 70% | 62% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 40% | |
Max Drawdowns [4] | |||||||
| TRS Max Drawdown | -22% | -39% | -27% | -17% | -22% | -16% | |
| Peers Max Drawdown | -20% | -22% | -16% | -12% | -26% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ATR, SLGN, HWM, TDG, PH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/27/2026 (YTD)
How Low Can It Go
| Event | TRS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 21 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.4% | -9.5% |
| % Gain to Breakeven | 24.1% | 10.5% |
| Time to Breakeven | 359 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.7% | -6.7% |
| % Gain to Breakeven | 21.4% | 7.1% |
| Time to Breakeven | 798 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.6% | -24.5% |
| % Gain to Breakeven | 63.0% | 32.4% |
| Time to Breakeven | 1021 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 37.0% | 50.9% |
| Time to Breakeven | 259 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.2% | -19.2% |
| % Gain to Breakeven | 16.5% | 23.8% |
| Time to Breakeven | 50 days | 105 days |
In The Past
TriMas's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
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| Event | TRS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.6% | -24.5% |
| % Gain to Breakeven | 63.0% | 32.4% |
| Time to Breakeven | 1021 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 37.0% | 50.9% |
| Time to Breakeven | 259 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -38.3% | -6.8% |
| % Gain to Breakeven | 62.2% | 7.3% |
| Time to Breakeven | 579 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -45.1% | -17.9% |
| % Gain to Breakeven | 82.1% | 21.8% |
| Time to Breakeven | 405 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -91.5% | -53.4% |
| % Gain to Breakeven | 1071.2% | 114.4% |
| Time to Breakeven | 470 days | 1085 days |
In The Past
TriMas's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About TriMas (TRS)
TriMas Corporation (TRS) is a diversified global manufacturer that designs, develops, and produces highly engineered products for a wide range of markets, primarily categorized into three distinct segments: Packaging, Aerospace, and Specialty Products. The company serves customers worldwide, providing essential components and systems that support various industries, from everyday consumer goods to critical aerospace and energy applications.
In its Packaging segment, TriMas offers a comprehensive suite of dispensing products, including pumps, sprayers, and specialized caps and closures, along with polymeric jars and custom molded components, primarily serving consumer goods manufacturers in the food, beverage, personal care, and industrial sectors. The Aerospace segment is a key supplier of highly engineered fasteners, bolts, rivets, and air management system components to original equipment manufacturers, supply chain distributors, and military and defense platforms. Lastly, the Specialty Products segment manufactures steel cylinders for compressed gases and provides natural gas powered wellhead engines, compressors, and industrial engine parts, primarily serving the oil and natural gas production, transportation, and general industrial markets.
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1. Illinois Tool Works (ITW) for specialized industrial components and packaging.
2. A smaller TransDigm Group (TDG) with additional capabilities in packaging and other industrial products.
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- Dispensing Products: Pumps and sprayers for various liquid dispensing applications in consumer and industrial markets.
- Caps and Closures: Polymeric and steel caps, lids, and closures for food, beverage, child-resistant, and industrial containers.
- Injection Molded Components: Custom injection molded parts, polymeric jars, and other specialized plastic components.
- Aerospace Fasteners: Fasteners, collars, blind bolts, and rivets designed for aerospace applications.
- Air Management System Components: Ducting and connectors for aircraft air management systems.
- Machined Aerospace Parts: Precision machined parts and components for the aerospace industry.
- Steel Cylinders: Cylinders used for the transportation, storage, and dispensing of compressed gases.
- Wellhead Engines & Compressors: Natural gas powered engines and compressors primarily for oil and natural gas production.
- Industrial Engine Parts: Replacement and spare parts for various industrial engines and production equipment.
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TriMas (TRS) primarily sells its products to other companies (B2B) across various industries. The company's description does not name specific public customer companies with their symbols. Instead, it categorizes the types of businesses it serves. TriMas's major customers fall into the following categories:
- Consumer Products Companies: These include manufacturers in the food and beverage, personal care (e.g., hand soap, lotion, sanitizer, perfume), household product, and agricultural sectors. They utilize TriMas's dispensing pumps, caps, closures, jars, and other packaging solutions for their end products.
- Aerospace Industry Companies: This category encompasses Original Equipment Manufacturers (OEMs) in the aerospace sector (e.g., aircraft and engine manufacturers), supply chain distributors specializing in aerospace components, Maintenance, Repair, and Overhaul (MRO) providers, tier-one suppliers to major aerospace companies, and entities involved in military and defense aerospace applications and platforms.
- Industrial and Energy Sector Companies: This segment's customers include companies involved in the transportation, storage, and dispensing of compressed gases (e.g., industrial gas suppliers, healthcare providers), oil and natural gas production companies (for wellhead engines and compressors), and other industrial and commercial markets requiring specialized engine parts and components.
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Thomas Snyder, President & Chief Executive Officer
Thomas J. Snyder was appointed President and Chief Executive Officer of TriMas, effective June 23, 2025. He brings nearly 35 years of experience in the packaging industry, having held various leadership positions at Silgan Holdings Inc., a global manufacturer of packaging solutions. Most recently, he served as President of Silgan Containers LLC from October 2007, where he managed nearly $3 billion in sales and drove significant sales, earnings, and cash flow growth. Prior to this, he was Executive Vice President of Silgan Containers from July 2006 to October 2007 and Vice President – Sales and Marketing of Silgan Containers from July 2002 to July 2006. His earlier career at Silgan Containers included roles such as Director of Sales, National Account Manager, Materials Application Engineer, and various operations management positions. Mr. Snyder earned an M.B.A. from Pepperdine University and a B.S. in Packaging from Michigan State University.
Paul Swart, Chief Financial Officer
Paul Swart serves as the Chief Financial Officer of TriMas. He has been the Chief Accounting Officer of TriMas Corporation since August 2012 and also holds the title of Vice President of Business Planning and Controller.
Jodi Robin, General Counsel
Jodi Robin holds the position of General Counsel at TriMas.
Fabio Salik, President - TriMas Packaging
Fabio Salik is the President of TriMas Packaging.
Vitaliy Rusakov, President – TriMas Aerospace
Vitaliy Rusakov serves as the President of TriMas Aerospace.
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The public company TriMas (symbol: TRS) faces several key risks to its business, primarily stemming from its significant strategic transformation and the inherent volatilities of its operating markets.
- Execution and Capital Allocation Risks Post-Aerospace Divestiture: TriMas is currently undergoing a major strategic shift with the planned sale of its Aerospace business, expected to generate approximately $1.2 billion in after-tax cash. A primary risk lies in the effective deployment of these substantial funds. There is significant uncertainty regarding the company's ability to identify and execute attractive transactions or investments to grow its remaining Packaging and Specialty Products segments. Additionally, debt covenants could constrain capital allocation decisions. A failure to successfully deploy this capital could negatively impact returns, share price, and long-term performance.
- Exposure to General Economic Conditions and Market Demand Fluctuations: TriMas's remaining segments, Packaging and Specialty Products, are highly susceptible to broader economic cycles. Economic downturns or adverse currency conditions can significantly impact demand for its consumer and industrial packaging products, as well as its specialty products used in transportation, storage of compressed gases, and industrial applications. Fluctuations in raw material costs, supply chain disruptions, and the impact of tariffs and trade policies, often exacerbated by economic instability, also pose ongoing risks to profitability and operational efficiency.
- Ability to Realize Benefits from Strategic Transformation and Operational Initiatives: Beyond the aerospace sale, TriMas has outlined broader strategic transformation plans focused on cost reductions, operational margin improvements, and organizational realignment within its continuing businesses. There is inherent uncertainty in the company's ability to successfully execute these initiatives and realize the anticipated cost savings and margin enhancements. Failure to achieve these projected benefits could impact future financial performance and shareholder value.
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The increasing global push for sustainability, particularly regarding plastic reduction and the adoption of circular economy principles, represents a clear emerging threat to TriMas's Packaging segment. This trend, driven by consumer demand, regulatory pressures, and environmental concerns, could significantly reduce demand for their traditional polymeric packaging products (e.g., plastic pumps, caps, jars) in favor of reusable, biodegradable, paper-based, or metal alternatives, or new refill models. If TriMas does not innovate or acquire businesses in these new areas effectively, their existing plastic-centric packaging business could face declining demand.
The global energy transition away from fossil fuels and the accelerating decarbonization efforts pose a clear emerging threat to TriMas's Specialty Products segment, specifically its Arrow brand which produces natural gas wellhead engines and compressors. As the oil and natural gas industry faces long-term decline in new exploration and production due to climate policies and renewable energy adoption, the market for new equipment in this specific niche will shrink, impacting revenue from the Arrow brand.
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TriMas Corporation (symbol: TRS) operates in several addressable markets across its three segments: Packaging, Aerospace, and Specialty Products.
Packaging Segment
- Dispensing Products: The global dispenser pump market was estimated at USD 9.5 billion in 2024 and is projected to grow to USD 15.1 billion by 2034, at a CAGR of 4.8% from 2025 to 2034. Another source values the global dispenser pump market at USD 7.37 billion in 2025, anticipated to reach USD 13.49 billion by 2035, growing at a CAGR of 6.23% over the next decade. Additionally, the global pumps & dispensers market size was about USD 17.19 billion in 2024 and is forecast to reach approximately USD 17.79 billion in 2025.
- Caps and Closures: The global caps and closures market size was valued at USD 81.21 billion in 2022 and is expected to reach USD 147.88 billion by 2032, growing at a CAGR of 6.18% from 2022 to 2032. Another estimate places the global caps and closures market size at USD 111.01 billion in 2025, projected to reach USD 167.41 billion by 2033, growing at a CAGR of 5.3% from 2026 to 2033.
Aerospace Segment
- Fasteners, Collars, Blind Bolts, Rivets, Ducting, Connectors, and Machined Parts: The global aerospace fasteners market size was valued at USD 7.85 billion in 2025 and is predicted to increase to approximately USD 15.00 billion by 2034, expanding at a CAGR of 7.45% from 2025 to 2034. Other data indicates the global aerospace fasteners market size was valued at USD 6.90 billion in 2025 and is projected to grow from USD 7.57 billion in 2026 to USD 14.17 billion by 2034, exhibiting a CAGR of 8.15% during the forecast period.
Specialty Products Segment
- Steel Cylinders for Compressed Gases: The global industrial gas cylinder market size was valued at USD 6.65 billion in 2024 and is expected to reach USD 10.26 billion by 2033, growing at a CAGR of 4.9% from 2025 to 2033. Another report estimated the market at US$ 687 million in 2024, likely to grow at a CAGR of 4.2% during 2025-2031 to reach US$ 928 million in 2031.
- Natural Gas Powered Wellhead Engines, Compressors, and Replacement Parts: The global wellhead equipment market size was estimated at USD 7.34 billion in 2025 and is projected to reach approximately USD 10.93 billion by 2033, growing at a CAGR of around 5.1% from 2026 to 2033. Another source states the wellhead equipment market size was valued at USD 5.72 billion in 2025 and is projected to grow from USD 5.96 billion in 2026 to USD 9.08 billion by 2034, exhibiting a CAGR of 5.40% during the forecast period.
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Expected Drivers of Future Revenue Growth for TriMas (TRS)
TriMas (TRS) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from its strategic repositioning to focus on its Packaging and Specialty Products segments following the divestiture of its Aerospace business.
- Strategic Focus and Investment in Packaging and Life Sciences: TriMas plans to reinvest proceeds from the Aerospace divestiture into its Packaging and Specialty Products segments, with a particular emphasis on penetrating and expanding within the packaging and life sciences sectors. This strategic redirection is expected to fuel future growth.
- Organic Growth within Core End Markets: The company expects continued organic growth within its core end markets for Packaging and Specialty Products. This includes anticipated demand in industrial and life sciences applications, which have already shown strength in the Packaging segment.
- Operational Excellence and Commercial Model Enhancements: Initiatives aimed at global operational excellence, organizational realignment, and the implementation of a restructured commercial model are expected to contribute to sales growth. These efforts, while also driving cost reductions and margin improvement, are designed to enhance competitiveness and market penetration.
- Strategic Mergers and Acquisitions (M&A): TriMas intends to utilize capital from the Aerospace divestiture to fund future mergers and acquisitions. These strategic M&A activities are aimed at expanding product offerings, market reach, and overall revenue within the focused Packaging and Specialty Products segments.
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Share Repurchases
- TriMas increased its common stock share repurchase authorization to a total of up to $150 million as of February 26, 2026, which included the $48.9 million remaining under the previous authorization.
- During 2025, TriMas repurchased 3,124,866 shares of its outstanding common stock for $103.3 million.
- More than three million of these shares were repurchased in the fourth quarter of 2025, following the announcement of the Aerospace divestiture.
Share Issuance
- No significant share issuances were reported in the provided information for the last 3-5 years. The number of outstanding shares decreased from 41,477,451 as of February 20, 2023, to approximately 37.6 million as of December 31, 2025, consistent with share repurchases.
Outbound Investments
- On November 4, 2025, TriMas entered into a definitive agreement to sell its Aerospace segment for an all-cash purchase price of approximately $1.45 billion, with an estimated $1.2 billion in net after-tax proceeds expected upon closing in the first quarter of 2026.
- Management plans to use the proceeds from the Aerospace divestiture to fund organic growth investments, pursue strategic acquisition opportunities in packaging and life sciences, and repurchase shares.
- During 2025, TriMas paid $37.7 million, net of cash acquired, to acquire the aerospace business of GMT Gummi-Metall-Technik GmbH and received $22.0 million from the sale of its Arrow Engine business.
Capital Expenditures
- TriMas invested $48.4 million in capital expenditures during 2025, primarily for growth, capacity, and productivity-related capital projects.
- Capital expenditures for 2024 were $51.0 million.
- The company's investments are focused on capacity expansion and information technology upgrades to support operations and future growth in priority channels.
Peer Outperformance in Metal, Glass & Plastic Containers
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Steel | 14 | 27.6% | 43.4% | 142.4% | STLD 311% · HCC 296% · RS 226% |
| Copper | 7 | 50.5% | 119.0% | 139.0% | SCCO 291% · TGB 281% · HBM 239% |
| Gold | 36 | 8.9% | 170.3% | 101.8% | IAG 471% · OGC 365% · KGC 292% |
| Silver | 6 | 33.5% | 256.8% | 76.8% | AYA 228% · HL 146% · EXK 48% |
| Construction Materials | 6 | -17.9% | 28.4% | 41.6% | USLM 367% · CRH 92% · VMC 48% |
| Aluminum | 3 | 8.7% | 137.1% | 40.4% | CENX 135% · AA -8% |
| Metal, Glass & Plastic Containers ← | 11 | -6.4% | 16.4% | 4.7% | GEF 52% · ATR 7% · SLGN 5% |
| Paper & Plastic Packaging Products & Materials | 7 | 10.4% | 15.0% | -1.9% | PKG 117% · CCK 20% · SON 3% |
| Diversified Metals & Mining | 23 | -55.4% | -8.6% | -2.6% | USAR 34799% · MTRN 242% · MP 25% |
| Diversified Chemicals | 3 | 6.7% | 3.9% | -15.4% | CBT 57% · ASH -15% · CC -44% |
| Specialty Chemicals | 41 | 9.8% | 9.5% | -21.9% | NEU 197% · ESI 69% · SXT 54% |
| Commodity Chemicals | 13 | 0.3% | -16.5% | -32.3% | HWKN 332% · MEOH 54% · DOW -21% |
| Precious Metals & Minerals | 8 | -7.2% | 142.9% | -45.3% | PPTA 280% |
| Fertilizers & Agricultural Chemicals | 10 | -47.5% | -53.9% | -60.9% | CF 136% · NTR 18% · MOS -48% |
| Paper Products | 4 | -41.2% | -60.6% | -82.1% |
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 159.75 |
| Mkt Cap | 36.5 |
| Rev LTM | 7,899 |
| Op Inc LTM | 1,567 |
| FCF LTM | 1,067 |
| FCF 3Y Avg | 792 |
| CFO LTM | 1,419 |
| CFO 3Y Avg | 1,116 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.7% |
| Rev Chg 3Y Avg | 4.6% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 9.0% |
| Op Inc Chg 3Y Avg | 11.1% |
| Op Mgn LTM | 17.0% |
| Op Mgn 3Y Avg | 16.9% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 17.6% |
| CFO/Rev 3Y Avg | 17.6% |
| FCF/Rev LTM | 13.0% |
| FCF/Rev 3Y Avg | 12.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Packaging | 536 | 512 | 464 | 522 | 533 |
| Specialty Products | 110 | 118 | 189 | 174 | 141 |
| Aerospace | 188 | 183 | |||
| Total | 646 | 631 | 652 | 884 | 857 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Packaging | 68 | 68 | 60 | 81 | 96 |
| Specialty Products | 4 | -2 | 36 | 30 | 23 |
| Corporate | -31 | -51 | -46 | -20 | -37 |
| Aerospace | 8 | 13 | |||
| Total | 41 | 15 | 51 | 99 | 95 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Packaging | 855 | 811 | 831 | 777 | 740 |
| Non-current assets, discontinued operations | 267 | 242 | |||
| Current assets, discontinued operations | 176 | 150 | |||
| Corporate | 113 | 32 | 26 | 94 | 137 |
| Specialty Products | 74 | 89 | 93 | 86 | 73 |
| Aerospace | 348 | 354 | |||
| Total | 1,485 | 1,324 | 949 | 1,305 | 1,304 |
Price Behavior
| Market Price | $39.51 | |
| Market Cap ($ Bil) | 1.4 | |
| First Trading Date | 05/18/2007 | |
| Distance from 52W High | -12.2% | |
| 50 Days | 200 Days | |
| DMA Price | $38.94 | $38.56 |
| DMA Trend | down | up |
| Distance from DMA | 1.5% | 2.5% |
| 3M | 1YR | |
| Volatility | 20.0% | 29.0% |
| Downside Capture | -1.40 | 73.79 |
| Upside Capture | 3.06 | 62.84 |
| Correlation (S&P 500) | -3.9% | 37.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.38 | -0.15 | 0.09 | 0.70 | 0.85 | 0.81 |
| Up Beta | -0.93 | -0.12 | -0.57 | 0.58 | 0.92 | 0.79 |
| Down Beta | -0.43 | -0.24 | -0.12 | 0.54 | 1.19 | 0.82 |
| Up Capture | -42% | -23% | -2% | 67% | 53% | 56% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 10 | 20 | 28 | 68 | 133 | 392 |
| Down Capture | -1% | 4% | 92% | 88% | 81% | 94% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 12 | 22 | 36 | 58 | 119 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TRS | |
|---|---|---|---|---|
| TRS | -0.7% | 29.0% | -0.03 | - |
| Sector ETF (XLB) | 18.0% | 17.7% | 0.77 | 34.8% |
| Equity (SPY) | 14.6% | 12.7% | 0.79 | 36.7% |
| Gold (GLD) | -1.4% | 28.5% | -0.06 | 12.0% |
| Commodities (DBC) | 47.3% | 20.6% | 1.76 | -24.8% |
| Real Estate (VNQ) | 3.8% | 13.9% | 0.02 | 22.0% |
| Bitcoin (BTCUSD) | -27.9% | 43.4% | -0.63 | 19.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TRS | |
|---|---|---|---|---|
| TRS | 4.2% | 30.5% | 0.16 | - |
| Sector ETF (XLB) | 6.1% | 19.1% | 0.21 | 50.3% |
| Equity (SPY) | 12.8% | 17.1% | 0.56 | 45.8% |
| Gold (GLD) | 17.6% | 18.9% | 0.75 | 8.2% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | 3.4% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.06 | 42.3% |
| Bitcoin (BTCUSD) | 4.5% | 51.6% | 0.27 | 18.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TRS | |
|---|---|---|---|---|
| TRS | 8.7% | 31.3% | 0.33 | - |
| Sector ETF (XLB) | 10.5% | 20.7% | 0.45 | 55.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 51.1% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 2.4% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 15.0% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 45.0% |
| Bitcoin (BTCUSD) | 62.2% | 66.2% | 1.02 | 12.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -3.2% | 4.0% | 0.7% |
| 4/30/2026 | 2.6% | 15.3% | 13.6% |
| 2/26/2026 | 3.1% | 7.4% | -0.5% |
| 10/28/2025 | -3.0% | -7.6% | -14.8% |
| 7/29/2025 | 10.8% | 11.3% | 23.2% |
| 4/29/2025 | 12.3% | 17.4% | 26.5% |
| 2/27/2025 | -6.2% | 4.8% | 6.4% |
| 11/4/2024 | -8.1% | 1.1% | -1.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 13 |
| # Negative | 14 | 10 | 11 |
| Median Positive | 2.4% | 4.6% | 5.9% |
| Median Negative | -3.2% | -5.9% | -6.9% |
| Max Positive | 12.3% | 17.4% | 26.5% |
| Max Negative | -21.2% | -17.0% | -14.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -3.2% | 4.0% | 0.7% |
| 4/30/2026 | 2.6% | 15.3% | 13.6% |
| 2/26/2026 | 3.1% | 7.4% | -0.5% |
| 10/28/2025 | -3.0% | -7.6% | -14.8% |
| 7/29/2025 | 10.8% | 11.3% | 23.2% |
| 4/29/2025 | 12.3% | 17.4% | 26.5% |
| 2/27/2025 | -6.2% | 4.8% | 6.4% |
| 11/4/2024 | -8.1% | 1.1% | -1.7% |
| 7/30/2024 | -7.1% | -15.9% | -9.4% |
| 4/30/2024 | -2.8% | -2.4% | -1.0% |
| 2/29/2024 | -8.3% | -3.6% | 4.3% |
| 10/26/2023 | 1.5% | 4.4% | 7.5% |
| 7/27/2023 | -2.3% | -5.3% | -7.6% |
| 4/27/2023 | -0.1% | 1.6% | 0.9% |
| 2/23/2023 | -2.5% | 0.1% | -11.8% |
| 10/27/2022 | -21.2% | -17.0% | -4.7% |
| 7/28/2022 | 2.3% | 2.6% | 3.4% |
| 4/28/2022 | 1.4% | -5.2% | -6.9% |
| 3/1/2022 | -5.6% | -1.8% | 0.5% |
| 10/28/2021 | -2.0% | 5.4% | 5.9% |
| 7/29/2021 | 1.0% | -6.6% | -4.9% |
| 4/29/2021 | 4.4% | 3.0% | 3.5% |
| 2/25/2021 | -3.1% | -10.2% | -13.9% |
| 10/29/2020 | 1.2% | 8.6% | 17.2% |
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 13 |
| # Negative | 14 | 10 | 11 |
| Median Positive | 2.4% | 4.6% | 5.9% |
| Median Negative | -3.2% | -5.9% | -6.9% |
| Max Positive | 12.3% | 17.4% | 26.5% |
| Max Negative | -21.2% | -17.0% | -14.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
Recent Forward Guidance
Updated 10/26/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Interest Income | Reported | 9.00 Mil | 9.50 Mil | 10.00 Mil | ||||
| 2026 Sales Growth | Reported | 3.0% | 4.5% | 6.0% | 0 | Affirmed | Guidance: 4.5% for 2026 | |
| 2026 Adjusted Operating Profit Margin Improvement | Reported | 3.0% | 0 | Affirmed | Guidance: 3.0% for 2026 | |||
| 2026 Adjusted Diluted EPS | Reported | 1.6 | 1.65 | 1.7 | 3.1% | Raised | Guidance: 1.6 for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Sales Growth | Reported | 3.0% | 4.5% | 6.0% | 0.0% | Affirmed | Guidance: 4.5% for 2026 | |
| 2026 Adjusted Operating Profit Margin Improvement | Reported | 3.0% | 0.0% | Affirmed | Guidance: 3.0% for 2026 | |||
| 2026 Adjusted Diluted EPS | Reported | 1.5 | 1.6 | 1.7 | ||||
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Cost Savings | Reported | 10.00 Mil | ||||||
| 2026 Sales Growth | Reported | 3.0% | 4.5% | 6.0% | -55.0% | -5.5% | Lower New | Guidance: 10.0% for 2025 |
| 2026 Adjusted Operating Profit Margin Improvement | Reported | 3.0% | ||||||
Q3 2025 Earnings Reported 10/28/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Consolidated Sales Growth | Reported | 8.0% | 10.0% | 10.0% | 1.0% | Raised | Guidance: 9.0% for 2025 | |
| 2025 Adjusted Diluted EPS | Reported | 2.02 | 2.07 | 2.12 | 2.2% | Raised | Guidance: 2.03 for 2025 | |
Insider Activity
Updated 10/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tredwell, Daniel P | Direct | Buy | 8142026 | 39.63 | 64 | 2,524 | 2,517,426 | Form | |
| 2 | Parker, Herbert K | Direct | Sell | 7012026 | 45.03 | 15,000 | 675,465 | 2,601,081 | Form | |
| 3 | Tredwell, Daniel P | Direct | Buy | 5152026 | 40.58 | 62 | 2,522 | 2,575,123 | Form | |
| 4 | Robin, Jodi F | General Counsel and Secretary | Direct | Sell | 5072026 | 41.60 | 2,000 | 83,210 | 1,422,517 | Form |
| 5 | Robin, Jodi F | General Counsel and Secretary | Direct | Sell | 5072026 | 41.09 | 3,000 | 123,285 | 1,487,269 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tredwell, Daniel P | Direct | Buy | 8142026 | 39.63 | 64 | 2,524 | 2,517,426 | Form | |
| 2 | Parker, Herbert K | Direct | Sell | 7012026 | 45.03 | 15,000 | 675,465 | 2,601,081 | Form | |
| 3 | Tredwell, Daniel P | Direct | Buy | 5152026 | 40.58 | 62 | 2,522 | 2,575,123 | Form | |
| 4 | Robin, Jodi F | General Counsel and Secretary | Direct | Sell | 5072026 | 41.60 | 2,000 | 83,210 | 1,422,517 | Form |
| 5 | Robin, Jodi F | General Counsel and Secretary | Direct | Sell | 5072026 | 41.09 | 3,000 | 123,285 | 1,487,269 | Form |
| 6 | Tredwell, Daniel P | Direct | Buy | 3092026 | 39.38 | 60 | 2,354 | 2,384,175 | Form | |
| 7 | Tredwell, Daniel P | Direct | Buy | 11142025 | 31.94 | 74 | 2,351 | 1,931,888 | Form | |
| 8 | Fielkow, Jeffrey A | Direct | Buy | 11122025 | 31.46 | 2,000 | 62,920 | 555,363 | Form |
Investor Activity (13F)
Updated Oct 28, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Metal, Glass & Plastic Containers Resources |
| Packaging Digest |
| Packaging World |
| Plastics Today |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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