Trinity Capital Inc. (TRIN) 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 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRIN SEC filings page.
Trinity Capital Inc. (TRIN) reported $313.1M in revenue over the twelve months to Jun 30, 2026, up 22.8% from the prior twelve months. This page shows its 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).
Reported assets expanded quickly, with borrowing and equity funding a larger asset base while annual income remained positive after a FY2022 loss.
From FY2024 to FY2025, total assets rose by$723M while total liabilities rose by$439M . Equity also increased and shares outstanding rose, showing that expansion used a blend of borrowing and new equity rather than retained income alone.
Net income moved from a
FY2025 operating cash flow was negative
Financial Health Signals
Trinity Capital Inc. 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.
Trinity Capital Inc. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 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. used $3.95 of operating cash (-$535.5M OCF vs $135.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Trinity Capital Inc. generated $79.6M in revenue in Q2 2026. This represents an increase of 19.3% from the same quarter a year earlier. Against the prior quarter it is down 4.5%.
Trinity Capital Inc. reported $44.4M in net income in Q2 2026. This represents an increase of 7.2% from the same quarter a year earlier. Against the prior quarter it is up 48.9%.
Trinity Capital Inc. earned $0.49 per diluted share (EPS) in Q2 2026. This represents a decrease of 22.2% from the same quarter a year earlier. Against the prior quarter it is up 36.1%.
Not reported for Q2 2026.
Cash & Balance Sheet
Trinity Capital Inc. held $22.2M in cash against $1.5B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Trinity Capital Inc.'s net profit margin was 55.8% in Q2 2026, showing the share of revenue converted to profit. This is down 6.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.0 percentage points.
Trinity Capital Inc.'s ROE was 3.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Trinity Capital Inc. spent $943K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 22.8% from the same quarter a year earlier. Against the prior quarter it is down 42.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
TRIN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $79.6M+19.3% | $83.3M+32.9% | $77.6M+17.0% | $72.6M+22.6% | $66.7M+28.7% | $62.7M+26.9% | $66.3M+48.2% | $59.2M+31.4% |
| SG&A Expenses | $3.0M+33.2% | $3.1M+27.6% | $3.1M+17.6% | $2.6M+16.6% | $2.2M+7.4% | $2.5M+27.8% | $2.6M+38.0% | $2.2M+33.9% |
| Interest Expense | $24.8M+37.3% | $24.1M+36.5% | $23.9M+25.4% | $21.0M+24.4% | $18.0M+30.0% | $17.7M+45.4% | $19.1M+82.4% | $16.9M+56.4% |
| Net Income | $44.4M+7.2% | $29.8M+10.1% | $39.5M-14.0% | $27.6M+13.3% | $41.4M+34.3% | $27.1M+86.7% | $45.9M+159.0% | $24.4M+45.1% |
| EPS (Basic) | $0.49-22.2% | $0.36-16.3% | $0.52-35.8% | $0.39-13.3% | $0.63+3.3% | $0.43+38.7% | $0.81+113.2% | $0.45+7.1% |
| EPS (Diluted) | $0.49-22.2% | $0.36-16.3% | $0.52-32.5% | $0.39-9.3% | $0.63+6.8% | $0.43+43.3% | $0.77+108.1% | $0.43+7.5% |
| Diluted Shares (Avg) | 90M+37.3% | 84M+33.7% | N/A | 71M+22.4% | 66M+21.9% | 63M+23.6% | N/A | 58M+33.1% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.
TRIN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.8B+37.2% | $2.6B+37.6% | $2.5B+40.0% | $2.2B+29.5% | $2.0B+35.8% | $1.9B+31.8% | $1.8B+35.3% | $1.7B+50.7% |
| Cash & Equivalents | $22.2M-15.5% | $19.6M+134.1% | $19.1M+98.5% | $9.5M+10.9% | $26.3M-43.1% | $8.4M-29.9% | $9.6M+102.2% | $8.5M+18.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.5B+37.2% | $1.4B+35.7% | $1.4B+46.2% | $1.2B+27.7% | $1.1B+35.9% | $1.0B+30.7% | $951.3M+35.9% | $978.0M+68.2% |
| Long-Term Debt | $1.5B+42.7% | $1.4B+40.4% | $1.3B+47.0% | $1.2B+28.5% | $1.1B+37.4% | $968.2M+31.3% | $888.0M+37.6% | $922.5M+73.2% |
| Total Equity | $1.3B+37.2% | $1.2B+39.9% | $1.1B+32.9% | $998.3M+31.9% | $923.6M+35.8% | $833.4M+33.1% | $823.0M+34.7% | $756.8M+32.9% |
| Retained Earnings | -$21.0M-235.2% | -$19.3M-58.0% | -$6.4M+4.2% | -$16.9M+49.7% | -$6.3M+78.0% | -$12.2M+62.9% | -$6.7M+70.4% | -$33.5M-56.7% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
TRIN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$198.6M-60.8% | -$45.8M+27.7% | -$165.0M-996.5% | -$183.6M+20.9% | -$123.5M-464.3% | -$63.3M+22.2% | $18.4M+113.5% | -$232.0M-518.2% |
| Stock-Based Compensation | N/A | $3.2M+24.5% | N/A | N/A | N/A | $2.6M+6.1% | N/A | N/A |
| Investing Cash Flow | -$30K+83.3% | -$415K-291.5% | -$428K-214.7% | -$71K+43.2% | -$180K-42.9% | -$106K-221.2% | -$136K+74.1% | -$125K+83.3% |
| Financing Cash Flow | $201.2M+42.1% | $46.7M-24.9% | $175.1M+1119.2% | $166.9M-14.2% | $141.6M+152.1% | $62.2M-29.8% | -$17.2M-112.8% | $194.6M+425.5% |
| Share Buybacks | $943K+22.8% | $1.6M-3.1% | N/A | N/A | $768K | $1.7M | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid.
TRIN 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 55.8%-6.3pp | 35.8%-7.4pp | 50.9%-18.3pp | 38.1%-3.1pp | 62.1%+2.6pp | 43.2%+13.8pp | 69.2%+29.6pp | 41.2%+3.9pp |
| Return on Equity | 3.5%-1.0pp | 2.6%-0.7pp | 3.6%-2.0pp | 2.8%-0.5pp | 4.5%-0.1pp | 3.3%+0.9pp | 5.6%+2.7pp | 3.2%+0.3pp |
| Return on Assets | 1.6%-0.4pp | 1.2%-0.3pp | 1.6%-1.0pp | 1.2%-0.2pp | 2.0%0.0pp | 1.5%+0.4pp | 2.6%+1.2pp | 1.4%-0.1pp |
| Debt-to-Equity | 1.200.0x | 1.170.0x | 1.19+0.1x | 1.190.0x | 1.150.0x | 1.160.0x | 1.080.0x | 1.22+0.3x |
| Asset Turnover | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.040.0x | 0.030.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Trinity Capital Inc. TRIN | FY2025 | $279.5M | $135.6M | 48.5% | $1.5B | — |
| MidCap Financial Investment Corporation MFIC | FY2025 | N/A | $63.2M | N/A | $702.6M | — |
| NEW MOUNTAIN FINANCE CORPORATION NMFC | FY2025 | N/A | $16.5M | N/A | $643.2M | — |
| Carlyle Secured Lending, Inc. CGBD | FY2025 | N/A | $70.0M | N/A | $725.2M | — |
| Goldman Sachs BDC, Inc. GSBD | FY2025 | N/A | $119.3M | N/A | $999.6M | — |
| Capital Southwest Corp CSWC | FY2026 | N/A | $135.5M | N/A | $1.5B | — |
Where Trinity Capital Inc. Ranks
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) recorded an outflow of $535.5M in operating cash flow during fiscal year 2025, representing cash used by 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.
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 P/E ratio?
Trinity Capital Inc. (TRIN) trades at 10.9x earnings, its market capitalization divided by net income of $141.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Trinity Capital Inc.'s price-to-sales ratio?
Trinity Capital Inc. (TRIN) trades at 4.9x sales, its market capitalization divided by revenue of $313.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Trinity Capital Inc.'s Piotroski F-Score?
Trinity Capital Inc. (TRIN) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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 Trinity Capital Inc.'s earnings high quality?
For every $1 of reported earnings, Trinity Capital Inc. (TRIN) used $3.95 of operating cash (-$535.5M OCF vs $135.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.