Trinity Capital Inc. Financials
This page shows Trinity Capital Inc. (TRIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Financial Health Signals
Trinity Capital Inc. passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Trinity Capital Inc. generates $-2.74 in operating cash flow (-$316.9M OCF vs $115.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Trinity Capital Inc. generated $226.7M in revenue in fiscal year 2024. This represents an increase of 29.7% from the prior year.
Trinity Capital Inc. reported $115.6M in net income in fiscal year 2024. This represents an increase of 50.3% from the prior year.
Trinity Capital Inc. earned $2.10 per diluted share (EPS) in fiscal year 2024. This represents an increase of 11.1% from the prior year.
Trinity Capital Inc. held $9.6M in cash against $888.0M in long-term debt as of fiscal year 2024.
Trinity Capital Inc. had 62M shares outstanding in fiscal year 2024. This represents an increase of 33.1% from the prior year.
Trinity Capital Inc.'s net profit margin was 51.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 7.0 percentage points from the prior year.
Trinity Capital Inc.'s ROE was 14.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.
TRIN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $72.6M+8.8% | $66.7M+6.4% | $62.7M-5.5% | $66.3M+27.9% | $51.8M+5.0% | $49.4M+10.4% | $44.7M-0.6% | $45.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $2.6M+15.3% | $2.2M-8.9% | $2.5M-5.7% | $2.6M+25.0% | $2.1M+8.4% | $1.9M+1.8% | $1.9M+14.2% | $1.7M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $21.0M+16.3% | $18.0M+2.2% | $17.7M-7.3% | $19.1M+37.2% | $13.9M+14.3% | $12.1M+16.2% | $10.4M-3.1% | $10.8M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $27.6M-33.2% | $41.4M+52.9% | $27.1M-40.9% | $45.9M+48.8% | $30.8M+112.5% | $14.5M-18.1% | $17.7M+5.2% | $16.8M |
| EPS (Diluted) | $0.39-38.1% | $0.63+46.5% | $0.43-44.9% | $0.78+32.2% | $0.59+96.7% | $0.30-18.9% | $0.37-7.5% | $0.40 |
TRIN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.2B+9.9% | $2.0B+10.1% | $1.9B+4.7% | $1.8B+17.9% | $1.5B+6.8% | $1.4B+7.5% | $1.3B+13.9% | $1.2B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $9.5M-63.9% | $26.3M+213.0% | $8.4M-12.9% | $9.6M-79.1% | $46.1M+285.2% | $12.0M+151.4% | $4.8M-34.1% | $7.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.2B+11.3% | $1.1B+9.5% | $1.0B+7.6% | $951.3M+15.2% | $825.4M+5.4% | $783.4M+11.9% | $699.8M+20.4% | $581.5M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $1.2B+11.7% | $1.1B+9.6% | $968.2M+9.0% | $888.0M+15.0% | $772.2M+4.7% | $737.5M+14.3% | $645.5M+21.2% | $532.5M |
| Total Equity | $998.3M+8.1% | $923.6M+10.8% | $833.4M+1.3% | $823.0M+21.0% | $680.0M+8.6% | $626.3M+2.5% | $611.2M+7.3% | $569.5M |
| Retained Earnings | -$16.9M-169.1% | -$6.3M+48.6% | -$12.2M-81.9% | -$6.7M+76.5% | -$28.5M+13.3% | -$32.9M-45.5% | -$22.6M-5.7% | -$21.4M |
TRIN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$183.6M-48.6% | -$123.5M-95.0% | -$63.3M-444.1% | $18.4M+184.1% | -$21.9M+73.1% | -$81.4M+40.3% | -$136.4M-345.8% | $55.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$71K+60.6% | -$180K-69.8% | -$106K+22.1% | -$136K-7.9% | -$126K-281.8% | -$33K+93.7% | -$525K+29.9% | -$749K |
| Financing Cash Flow | $166.9M+17.9% | $141.6M+127.6% | $62.2M+462.1% | -$17.2M-130.6% | $56.2M-36.7% | $88.6M-34.1% | $134.4M+324.9% | -$59.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TRIN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 38.1%-24.0pp | 62.1%+18.9pp | 43.2%-25.9pp | 69.2%+9.7pp | 59.5%+30.1pp | 29.4%-10.2pp | 39.6%+2.2pp | 37.4% |
| Return on Equity | 2.8%-1.7pp | 4.5%+1.2pp | 3.3%-2.3pp | 5.6%+1.0pp | 4.5%+2.2pp | 2.3%-0.6pp | 2.9%-0.0pp | 2.9% |
| Return on Assets | 1.2%-0.8pp | 2.0%+0.6pp | 1.5%-1.1pp | 2.6%+0.5pp | 2.1%+1.0pp | 1.0%-0.3pp | 1.4%-0.1pp | 1.5% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.19+0.0 | 1.15-0.0 | 1.16+0.1 | 1.08-0.1 | 1.14-0.0 | 1.18+0.1 | 1.06+0.1 | 0.94 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Trinity Capital Inc.'s annual revenue?
Trinity Capital Inc. (TRIN) reported $226.7M in total revenue for fiscal year 2024. This represents a 29.7% 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 Trinity Capital Inc.'s revenue growing?
Trinity Capital Inc. (TRIN) revenue grew by 29.7% year-over-year, from $174.8M to $226.7M in fiscal year 2024.
Is Trinity Capital Inc. profitable?
Yes, Trinity Capital Inc. (TRIN) reported a net income of $115.6M in fiscal year 2024, with a net profit margin of 51.0%.
What is Trinity Capital Inc.'s earnings per share (EPS)?
Trinity Capital Inc. (TRIN) reported diluted earnings per share of $2.10 for fiscal year 2024. This represents a 11.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
How much debt does Trinity Capital Inc. have?
As of fiscal year 2024, Trinity Capital Inc. (TRIN) had $9.6M in cash and equivalents against $888.0M in long-term debt.
What is Trinity Capital Inc.'s net profit margin?
Trinity Capital Inc. (TRIN) had a net profit margin of 51.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Trinity Capital Inc.'s return on equity (ROE)?
Trinity Capital Inc. (TRIN) has a return on equity of 14.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Trinity Capital Inc.'s operating cash flow?
Trinity Capital Inc. (TRIN) generated -$316.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Trinity Capital Inc.'s total assets?
Trinity Capital Inc. (TRIN) had $1.8B in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Trinity Capital Inc. have outstanding?
Trinity Capital Inc. (TRIN) had 62M shares outstanding as of fiscal year 2024.
What is Trinity Capital Inc.'s debt-to-equity ratio?
Trinity Capital Inc. (TRIN) had a debt-to-equity ratio of 1.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trinity Capital Inc.'s return on assets (ROA)?
Trinity Capital Inc. (TRIN) had a return on assets of 6.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Trinity Capital Inc.'s cash runway?
Based on fiscal year 2024 data, Trinity Capital Inc. (TRIN) had $9.6M in cash against an annual operating cash burn of $316.9M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Trinity Capital Inc.'s Piotroski F-Score?
Trinity Capital Inc. (TRIN) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Trinity Capital Inc.'s earnings high quality?
Trinity Capital Inc. (TRIN) has an earnings quality ratio of -2.74x, considered low quality (accrual-driven). 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.