Trinity Capital Financials
This page shows Trinity Capital (TRINI) 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
Trinity Capital 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.
For every $1 of reported earnings, Trinity Capital 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
Earnings & Revenue
Trinity Capital generated $279.5M in revenue in fiscal year 2025. This represents an increase of 23.3% from the prior year.
Trinity Capital reported $135.6M in net income in fiscal year 2025. This represents an increase of 17.3% from the prior year.
Trinity Capital 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
Trinity Capital held $19.1M in cash against $1.3B in long-term debt as of fiscal year 2025.
Trinity Capital had 82M shares outstanding in fiscal year 2025. This represents an increase of 32.2% from the prior year.
Margins & Returns
Trinity Capital'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.
Trinity Capital'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
TRINI Income Statement
| 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 |
TRINI Balance Sheet
| 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 |
TRINI Cash Flow Statement
| 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 |
TRINI Financial Ratios
| 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 |
Frequently Asked Questions
What is Trinity Capital's annual revenue?
Trinity Capital (TRINI) 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's revenue growing?
Trinity Capital (TRINI) revenue grew by 23.3% year-over-year, from $226.7M to $279.5M in fiscal year 2025.
Is Trinity Capital profitable?
Yes, Trinity Capital (TRINI) 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 have?
As of fiscal year 2025, Trinity Capital (TRINI) had $19.1M in cash and equivalents against $1.3B in long-term debt.
What is Trinity Capital's net profit margin?
Trinity Capital (TRINI) 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's return on equity (ROE)?
Trinity Capital (TRINI) 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's operating cash flow?
Trinity Capital (TRINI) generated -$535.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trinity Capital's total assets?
Trinity Capital (TRINI) had $2.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Trinity Capital's debt-to-equity ratio?
Trinity Capital (TRINI) 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's return on assets (ROA)?
Trinity Capital (TRINI) 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's cash runway?
Based on fiscal year 2025 data, Trinity Capital (TRINI) 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's Piotroski F-Score?
Trinity Capital (TRINI) 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's earnings high quality?
Trinity Capital (TRINI) 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.