What is Trinity Capital Inc.'s earnings per share (EPS)?

Trinity Capital Inc. (TRIN) reported diluted earnings per share of $1.96 for fiscal year 2025. This represents a -6.7% 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.

Trinity Capital Inc. Financials

TRIN

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Trinity Capital Inc. (TRIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

Piotroski F-Score Weak

1/9

Trinity Capital Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

-3.95x

For every $1 of reported earnings, Trinity Capital Inc. generates $-3.95 in operating cash flow (-$535.5M OCF vs $135.6M 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

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Earnings & Revenue

Revenue

$279.5M

YoY+23.3%

5Y CAGR+40.4%

Trinity Capital Inc. generated $279.5M in revenue in fiscal year 2025. This represents an increase of 23.3% from the prior year.

EBITDA

N/A

Net Income

$135.6M

YoY+17.3%

Trinity Capital Inc. reported $135.6M in net income in fiscal year 2025. This represents an increase of 17.3% from the prior year.

EPS (Diluted)

$1.96

YoY-6.7%

Trinity Capital Inc. earned $1.96 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 6.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$19.1M

YoY+98.5%

5Y CAGR-15.6%

Trinity Capital Inc. held $19.1M in cash against $1.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

82M

YoY+32.2%

5Y CAGR+34.8%

Trinity Capital Inc. had 82M shares outstanding in fiscal year 2025. This represents an increase of 32.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

48.5%

YoY-2.5pp

5Y CAGR+60.4pp

Trinity Capital Inc.'s net profit margin was 48.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.5 percentage points from the prior year.

Return on Equity

12.4%

YoY-1.7pp

Trinity Capital Inc.'s ROE was 12.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

TRIN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$279.5M+23.3%	$226.7M+29.7%	$174.8M+25.9%	$138.8M+81.2%	$76.6M+49.5%	$51.3M
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$10.4M+17.2%	$8.9M+34.3%	$6.6M+8.6%	$6.1M+40.4%	$4.3M+105.6%	$2.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$80.6M+30.1%	$61.9M+39.9%	$44.3M+29.7%	$34.1M+67.4%	$20.4M	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$135.6M+17.3%	$115.6M+50.3%	$76.9M+353.1%	-$30.4M-123.0%	$132.3M+2264.9%	-$6.1M
EPS (Diluted)	$1.96-6.7%	$2.10+11.1%	$1.89+296.9%	$-0.96-120.7%	$4.64+1464.7%	$-0.34

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$77.6M+6.9%	$72.6M+8.8%	$66.7M+6.4%	$62.7M-5.5%	$66.3M+12.0%	$59.2M+14.2%	$51.8M+5.0%	$49.4M
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	$3.1M+18.8%	$2.6M+15.3%	$2.2M-8.9%	$2.5M-5.7%	$2.6M+17.8%	$2.2M+6.2%	$2.1M+8.4%	$1.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$23.9M+13.8%	$21.0M+16.3%	$18.0M+2.2%	$17.7M-7.3%	$19.1M+12.9%	$16.9M+21.5%	$13.9M+14.3%	$12.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$39.5M+42.7%	$27.6M-33.2%	$41.4M+52.9%	$27.1M-40.9%	$45.9M+88.0%	$24.4M-20.9%	$30.8M+112.5%	$14.5M
EPS (Diluted)	N/A	$0.39-38.1%	$0.63+46.5%	$0.43	N/A	$0.43-27.1%	$0.59+96.7%	$0.30

TRIN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.5B+40.0%	$1.8B+35.3%	$1.3B+16.4%	$1.1B+20.2%	$937.1M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$19.1M+98.5%	$9.6M+102.2%	$4.8M-55.1%	$10.6M-66.5%	$31.7M-29.0%	$44.7M
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.4B+46.2%	$951.3M+35.9%	$699.8M+5.0%	$666.8M+35.9%	$490.6M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.3B+47.0%	$888.0M+37.6%	$645.5M+4.1%	$620.0M+33.0%	$466.0M+50.3%	$310.0M
Total Equity	$1.1B+32.9%	$823.0M+34.7%	$611.2M+33.0%	$459.6M+2.9%	$446.5M	N/A
Retained Earnings	-$6.4M+4.2%	-$6.7M+70.4%	-$22.6M-8.2%	-$20.9M-126.9%	$77.9M	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$2.5B+10.6%	$2.2B+9.9%	$2.0B+10.1%	$1.9B+4.7%	$1.8B+2.3%	$1.7B+15.2%	$1.5B+6.8%	$1.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$19.1M+101.9%	$9.5M-63.9%	$26.3M+213.0%	$8.4M-12.9%	$9.6M+12.8%	$8.5M-81.5%	$46.1M+285.2%	$12.0M
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	$1.4B+11.4%	$1.2B+11.3%	$1.1B+9.5%	$1.0B+7.6%	$951.3M-2.7%	$978.0M+18.5%	$825.4M+5.4%	$783.4M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.3B+10.1%	$1.2B+11.7%	$1.1B+9.6%	$968.2M+9.0%	$888.0M-3.7%	$922.5M+19.5%	$772.2M+4.7%	$737.5M
Total Equity	$1.1B+9.6%	$998.3M+8.1%	$923.6M+10.8%	$833.4M+1.3%	$823.0M+8.7%	$756.8M+11.3%	$680.0M+8.6%	$626.3M
Retained Earnings	-$6.4M+61.9%	-$16.9M-169.1%	-$6.3M+48.6%	-$12.2M-81.9%	-$6.7M+80.0%	-$33.5M-17.5%	-$28.5M+13.3%	-$32.9M

TRIN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$535.5M-69.0%	-$316.9M-229.2%	-$96.3M+59.2%	-$235.7M+2.5%	-$241.7M-315.1%	-$58.2M
Capital Expenditures	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
Investing Cash Flow	-$785K-86.9%	-$420K+84.7%	-$2.7M-1314.4%	-$194K+83.9%	-$1.2M+98.7%	-$92.0M
Financing Cash Flow	$545.8M+69.4%	$322.2M+245.9%	$93.2M-53.4%	$199.8M-12.6%	$228.5M+8.1%	$211.3M
Dividends Paid	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

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$165.0M+10.1%	-$183.6M-48.6%	-$123.5M-95.0%	-$63.3M-444.1%	$18.4M+107.9%	-$232.0M-959.9%	-$21.9M+73.1%	-$81.4M
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	-$428K-502.8%	-$71K+60.6%	-$180K-69.8%	-$106K+22.1%	-$136K-8.8%	-$125K+0.8%	-$126K-281.8%	-$33K
Financing Cash Flow	$175.1M+4.9%	$166.9M+17.9%	$141.6M+127.6%	$62.2M+462.1%	-$17.2M-108.8%	$194.6M+246.5%	$56.2M-36.7%	$88.6M
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	48.5%-2.5pp	51.0%+7.0pp	44.0%+65.9pp	-21.9%-194.6pp	172.7%+184.6pp	-11.9%
Return on Equity	12.4%-1.7pp	14.1%+1.5pp	12.6%+19.2pp	-6.6%-36.2pp	29.6%	N/A
Return on Assets	5.5%-1.1pp	6.5%+0.6pp	5.9%+8.6pp	-2.7%-16.8pp	14.1%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.19+0.1	1.08+0.0	1.06-0.3	1.35+0.3	1.04	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
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	50.9%+12.8pp	38.1%-24.0pp	62.1%+18.9pp	43.2%-25.9pp	69.2%+27.9pp	41.2%-18.3pp	59.5%+30.1pp	29.4%
Return on Equity	3.6%+0.8pp	2.8%-1.7pp	4.5%+1.2pp	3.3%-2.3pp	5.6%+2.4pp	3.2%-1.3pp	4.5%+2.2pp	2.3%
Return on Assets	1.6%+0.4pp	1.2%-0.8pp	2.0%+0.6pp	1.5%-1.1pp	2.6%+1.2pp	1.4%-0.6pp	2.1%+1.0pp	1.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.190.0	1.19+0.0	1.15-0.0	1.16+0.1	1.08-0.1	1.22+0.1	1.14-0.0	1.18
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 $279.5M in total revenue for fiscal year 2025. This represents a 23.3% 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 23.3% year-over-year, from $226.7M to $279.5M in fiscal year 2025.

Is Trinity Capital Inc. profitable?

Yes, Trinity Capital Inc. (TRIN) reported a net income of $135.6M in fiscal year 2025, with a net profit margin of 48.5%.

How much debt does Trinity Capital Inc. have?

As of fiscal year 2025, Trinity Capital Inc. (TRIN) had $19.1M in cash and equivalents against $1.3B in long-term debt.

What is Trinity Capital Inc.'s net profit margin?

Trinity Capital Inc. (TRIN) had a net profit margin of 48.5% in fiscal year 2025, 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 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Trinity Capital Inc.'s operating cash flow?

Trinity Capital Inc. (TRIN) generated -$535.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Trinity Capital Inc.'s total assets?

Trinity Capital Inc. (TRIN) had $2.5B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Trinity Capital Inc. have outstanding?

Trinity Capital Inc. (TRIN) had 82M shares outstanding as of fiscal year 2025.

What is Trinity Capital Inc.'s debt-to-equity ratio?

Trinity Capital Inc. (TRIN) had a debt-to-equity ratio of 1.19 as of fiscal year 2025, 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 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Trinity Capital Inc.'s cash runway?

Based on fiscal year 2025 data, Trinity Capital Inc. (TRIN) had $19.1M in cash against an annual operating cash burn of $535.5M. 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 1 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 -3.95x, 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.