Trio Petroleum Corp. (TPET) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Sep 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TPET SEC filings page.
Trio Petroleum Corp. (TPET) reported $851K in revenue over the twelve months to Jul 31, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue is emerging, but the company still relies on outside financing while its asset base and losses remain large.
A gross margin of55.9% coexists with an operating margin of-1,322.2% , showing that direct production economics are being overwhelmed by operating costs at the current revenue scale. This is an asset-heavy structure relative to sales: FY2025 assets were about$13.2M against revenue of only$398.7K .
Revenue nearly doubled from FY2024 to FY2025, while operating cash flow improved from
The balance sheet became less liability-heavy: total liabilities fell to
Financial Health Signals
Trio Petroleum Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Trio Petroleum Corp. scores -1.66, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.3M) relative to total liabilities ($1.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Trio Petroleum Corp. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Trio Petroleum Corp. reported a net loss of $7.3M while operations used $2.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Trio Petroleum Corp. reported an operating loss of $5.3M against $606K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Trio Petroleum Corp. generated $349K in revenue in Q3 2026. This represents an increase of 81.2% from the same quarter a year earlier. Against the prior quarter it is up 67.4%.
Trio Petroleum Corp. reported -$2.0M in net income in Q3 2026. This represents a decrease of 42.2% from the same quarter a year earlier. Against the prior quarter it is down 56.2%.
Not reported for Q3 2026.
Cash & Balance Sheet
Trio Petroleum Corp. held $23.2M in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Trio Petroleum Corp.'s gross margin was 31.0% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 17.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 82.0 percentage points.
Trio Petroleum Corp.'s ROE was -5.4% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is up 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.7 percentage points.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q3 2026.
TPET Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $349K+81.2% | $208K+794.9% | $122K+1029.4% | $172K | $192K+205.1% | $23K-68.1% | $11K | N/A |
| Cost of Revenue | $240K+144.1% | $314K+3293.7% | $68K | N/A | $98K | $9K | N/A | N/A |
| Gross Profit | $108K+15.2% | -$106K-857.1% | $54K+397.2% | $104K | $94K+48.9% | $14K-80.8% | $11K | N/A |
| SG&A Expenses | N/A | $105K-86.1% | $752K+5.7% | $679K | $672K-49.3% | $755K-48.8% | $712K-25.7% | N/A |
| Operating Income | -$2.1M-212.7% | -$1.4M-61.6% | -$804K+33.9% | -$2.5M | -$675K+55.3% | -$869K+55.4% | -$1.2M+16.1% | N/A |
| Interest Expense | $2K-98.6% | $22K-25.8% | $137K-57.1% | $109K | $148K-77.9% | $30K-96.9% | $318K+99.9% | N/A |
| Net Income | -$2.0M-42.2% | -$1.3M+19.3% | -$1.0M+37.3% | -$2.7M | -$1.4M+36.3% | -$1.6M+61.4% | -$1.6M+5.1% | N/A |
| EPS (Basic) | -$0.39+75.2% | -$0.05+77.3% | -$0.10+69.7% | -$0.11+97.3% | -$1.57-80.5% | -$0.22+88.9% | -$0.33+69.4% | -$4.13-13666.7% |
| EPS (Diluted) | -$0.39 | -$0.05 | -$0.10 | -$0.11 | -$1.57 | -$0.22 | -$0.33 | -$4.13 |
| Diluted Shares (Avg) | 5M | 28M | 11M | N/A | 885,912 | 7M | 5M | N/A |
Not reported in any period shown, so not listed: R&D Expenses, EBITDA, Income Tax.
TPET Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $37.9M+190.8% | $35.7M+159.4% | $14.2M+7.2% | $13.2M+13.1% | $13.0M+11.4% | $13.8M+16.6% | $13.2M+16.6% | $11.7M+0.4% |
| Current Assets | $24.7M+2715.4% | $22.5M+1191.7% | $903K-55.2% | $1.1M+89.5% | $877K+41.9% | $1.7M+116.0% | $2.0M+323.4% | $565K-66.7% |
| Cash & Equivalents | $23.2M+3870.7% | $21.0M+1342.7% | $685K-65.1% | $882K+208.5% | $584K+99.4% | $1.5M+560.4% | $2.0M+462.4% | $286K-81.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $157K+64.3% | $107K+239.0% | $42K | $60K | $96K | $32K | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.4M-12.3% | $1.2M-49.6% | $2.0M+29.7% | $1.9M-27.7% | $1.6M-55.8% | $2.3M+12.3% | $1.5M-33.8% | $2.6M+39.1% |
| Current Liabilities | $1.2M-22.8% | $999K-56.0% | $1.8M+22.9% | $1.9M-28.3% | $1.6M-56.6% | $2.3M+12.5% | $1.5M-23.8% | $2.6M+39.9% |
| Non-Current Liabilities | $211K+296.1% | $172K+227.3% | $168K+223.8% | $54K+5.4% | $53K+5.5% | $52K+5.6% | $52K-86.0% | $51K+5.8% |
| Total Equity | $36.5M+219.5% | $34.5M+201.4% | $12.2M+4.2% | $11.3M+25.0% | $11.4M+41.7% | $11.4M+17.5% | $11.7M+29.3% | $9.0M-7.2% |
| Retained Earnings | -$31.6M-28.3% | $105K+100.5% | -$28.4M-30.8% | -$27.4M-36.3% | -$24.6M-34.1% | -$23.3M-43.6% | -$21.7M-78.5% | -$20.1M-92.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
TPET Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$397K-11.6% | -$1.6M-119.0% | -$534K+42.0% | -$589K+85.1% | -$355K+37.0% | -$740K-150.8% | -$920K-18.9% | -$4.0M-164.9% |
| Stock-Based Compensation | $1.3M+1196.0% | $41K-64.5% | $85K-82.7% | N/A | $97K-59.4% | $116K-77.1% | $490K+20.3% | N/A |
| Capital Expenditures | N/A | $142-100.0% | $55K-29.5% | N/A | N/A | $319K | $78K | N/A |
| Free Cash Flow | N/A | -$1.6M-53.0% | -$589K+41.0% | N/A | N/A | -$1.1M | -$999K | N/A |
| Investing Cash Flow | -$36K+93.0% | -$62K+78.8% | $5K+103.4% | -$12K-124.7% | -$513K-328.0% | -$293K+41.0% | -$161K+69.2% | $49K+112.6% |
| Financing Cash Flow | $2.5M+253946300.0% | $23.1M+4577.4% | $383K-86.1% | $915K-76.6% | $1-100.0% | $494K+145.3% | $2.8M+3180.7% | $3.9M+101.6% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid, Share Buybacks.
TPET Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.0%-17.8pp | -50.9%-111.1pp | 44.0%-56.0pp | 60.5% | 48.8%-51.2pp | 60.2%-39.8pp | 100.0% | N/A |
| Operating Margin | -605.5% | -674.5% | -658.3% | -1458.2% | -350.9% | -3734.2% | -11243.7% | N/A |
| Net Margin | -565.6% | -656.6% | -828.7% | -1576.9% | -720.8% | -6719.8% | -14932.3% | N/A |
| Return on Equity | -5.4%+6.7pp | -3.7%+10.0pp | -8.3%+5.5pp | -24.0% | -12.1%+14.9pp | -13.7%+27.9pp | -13.8%+5.0pp | N/A |
| Return on Assets | -5.2%+5.4pp | -3.5%+7.8pp | -7.1%+5.1pp | -20.5% | -10.6%+8.0pp | -11.4%+22.9pp | -12.2%+2.8pp | N/A |
| Current Ratio | 20.55+20.0x | 22.48+21.7x | 0.50-0.9x | 0.58+0.4x | 0.56+0.4x | 0.77+0.4x | 1.37+1.1x | 0.22-0.7x |
| Debt-to-Equity | 0.04-0.1x | 0.03-0.2x | 0.160.0x | 0.17-0.1x | 0.14-0.3x | 0.200.0x | 0.13-0.1x | 0.29+0.1x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.010.0x | 0.01 | 0.010.0x | 0.000.0x | 0.00 | N/A |
| FCF Margin | N/A | -778.1% | -482.0% | N/A | N/A | -4551.8% | -9230.5% | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.58), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Trio Petroleum Corp. TPET | FY2025 | $399K | -$7.3M | N/A | $8.3M | — |
| Barnwell Industries, Inc. BRN | FY2025 | $13.7M | -$7.1M | -51.9% | $13.6M | 26/100 |
| EON Resources Inc. EONR | FY2025 | $16.9M | -$7.5M | -44.1% | $25.8M | 18/100 |
| Battalion Oil Corporation BATL | FY2025 | $166.0M | $11.9M | 7.1% | $59.0M | 13/100 |
| Mexco Energy Corporation MXC | FY2026 | $6.6M | $1.3M | 19.9% | $20.3M | 58/100 |
Where Trio Petroleum Corp. Ranks
Frequently Asked Questions
What is Trio Petroleum Corp.'s annual revenue?
Trio Petroleum Corp. (TPET) reported $399K in total revenue for fiscal year 2025. This represents a 87.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Trio Petroleum Corp.'s revenue growing?
Trio Petroleum Corp. (TPET) revenue grew by 87.0% year-over-year, from $213K to $399K in fiscal year 2025.
Is Trio Petroleum Corp. profitable?
No, Trio Petroleum Corp. (TPET) reported a net income of -$7.3M in fiscal year 2025.
What is Trio Petroleum Corp.'s gross margin?
Trio Petroleum Corp. (TPET) had a gross margin of 55.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Trio Petroleum Corp.'s return on equity (ROE)?
Trio Petroleum Corp. (TPET) has a return on equity of -64.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Trio Petroleum Corp.'s operating cash flow?
Trio Petroleum Corp. (TPET) recorded an outflow of $2.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Trio Petroleum Corp.'s total assets?
Trio Petroleum Corp. (TPET) had $13.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Trio Petroleum Corp.'s current ratio?
Trio Petroleum Corp. (TPET) had a current ratio of 0.58 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Trio Petroleum Corp.'s debt-to-equity ratio?
Trio Petroleum Corp. (TPET) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trio Petroleum Corp.'s return on assets (ROA)?
Trio Petroleum Corp. (TPET) had a return on assets of -55.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trio Petroleum Corp.'s P/E ratio?
Trio Petroleum Corp. (TPET) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to July 31, 2026). The market capitalization is $8.3M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Trio Petroleum Corp.'s price-to-sales ratio?
Trio Petroleum Corp. (TPET) trades at 9.7x sales, its market capitalization divided by revenue of $851K revenue, trailing 12 months to July 31, 2026. The market capitalization is $8.3M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Trio Petroleum Corp.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Trio Petroleum Corp. (TPET) held $882K in cash, cash equivalents and investments, and reported an operating cash outflow of $2.6M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Trio Petroleum Corp.'s Altman Z-Score?
Trio Petroleum Corp. (TPET) has an Altman Z-Score of -1.66, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Trio Petroleum Corp.'s Piotroski F-Score?
Trio Petroleum Corp. (TPET) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Trio Petroleum Corp.'s earnings high quality?
Trio Petroleum Corp. (TPET) reported a net loss of $7.3M while operations used $2.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Trio Petroleum Corp. cover its interest payments?
Trio Petroleum Corp. (TPET) reported an operating loss of $5.3M against $606K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.