Trinity Capital 7.875% Notes Due 2029 (TRNZ) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRNZ SEC filings page.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) reported $338.9M in revenue over the twelve months to Sep 30, 2026, up 24.9% 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.
The reported figures show an asset-growing capital vehicle increasingly funded by debt, while accounting earnings diverge from operating cash generation.
From FY2023 to FY2025, total assets rose89.5% , while total liabilities rose98.7% . Long-term debt rose102.3% , versus equity growth of79.0% , indicating that expansion relied progressively more on borrowed capital.
Earnings and cash flow moved in opposite directions: net income increased from
Financing costs are scaling faster than the reported business base: interest expense rose
Financial Health Signals
We do not publish a peer-relative financial health score for Trinity Capital Inc. 7.875% Notes Due 2029, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Trinity Capital Inc. 7.875% Notes Due 2029 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), the one computable operating efficiency signal (asset turnover improving) does not pass.
For every $1 of reported earnings, Trinity Capital Inc. 7.875% Notes Due 2029 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. 7.875% Notes Due 2029 generated $98.4M in revenue in Q3 2026. This represents an increase of 30.2% from the same quarter a year earlier. Against the prior quarter it is up 23.6%.
Trinity Capital Inc. 7.875% Notes Due 2029 reported $46.9M in net income in Q3 2026. This represents an increase of 69.7% from the same quarter a year earlier. Against the prior quarter it is up 5.7%.
Trinity Capital Inc. 7.875% Notes Due 2029 earned $0.49 per diluted share (EPS) in Q3 2026. This represents an increase of 25.6% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q3 2026.
Cash & Balance Sheet
Trinity Capital Inc. 7.875% Notes Due 2029 held $20.7M in cash against $1.6B in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Trinity Capital Inc. 7.875% Notes Due 2029's net profit margin was 47.7% in Q3 2026, showing the share of revenue converted to profit. This is up 11.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.1 percentage points.
Trinity Capital Inc. 7.875% Notes Due 2029's quarterly ROE was 3.5% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 0.8 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
Trinity Capital Inc. 7.875% Notes Due 2029 spent $1.2M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 16.3% from the same quarter a year earlier. Against the prior quarter it is up 30.6%.
Not reported for Q3 2026.
Not reported for Q3 2026.
TRNZ 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 | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $98.4M+30.2% | $79.6M+19.3% | $83.3M+32.9% | $77.6M+17.0% | $75.5M+27.6% | $66.7M+28.7% | $62.7M+26.9% | $66.3M+48.2% |
| SG&A Expenses | $3.0M+14.4% | $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% |
| Interest Expense | $28.3M+34.9% | $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% |
| Net Income | $46.9M+69.7% | $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% |
| EPS (Basic) | $0.49+25.6% | $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% |
| EPS (Diluted) | $0.49+25.6% | $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% |
| Diluted Shares (Avg) | 95M+33.1% | 90M+37.3% | 84M+33.7% | N/A | 71M+22.4% | 66M+21.9% | 63M+23.6% | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.
TRNZ 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 | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9B+30.4% | $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% |
| Cash & Equivalents | $20.7M+118.3% | $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% |
| Total Liabilities | $1.6B+28.5% | $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% |
| Long-Term Debt | $1.6B+32.2% | $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% |
| Total Equity | $1.3B+32.8% | $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% |
| Retained Earnings | -$22.5Mn/m | -$21.0Mn/m | -$19.3Mn/m | -$6.4Mn/m | -$16.9Mn/m | -$6.3Mn/m | -$12.2Mn/m | -$6.7Mn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
TRNZ 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 | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$66.3Mn/m | -$198.6Mn/m | -$45.8Mn/m | -$165.0M-996.5% | -$183.6Mn/m | -$123.5Mn/m | -$63.3Mn/m | $18.4Mn/m |
| Stock-Based Compensation | N/A | N/A | $3.2M+24.5% | N/A | N/A | N/A | $2.6M+6.1% | N/A |
| Investing Cash Flow | -$69Kn/m | -$30Kn/m | -$415Kn/m | -$428Kn/m | -$71Kn/m | -$180Kn/m | -$106Kn/m | -$136Kn/m |
| Financing Cash Flow | $64.9M-61.1% | $201.2M+42.1% | $46.7M-24.9% | $175.1Mn/m | $166.9M-14.2% | $141.6M+152.1% | $62.2M-29.8% | -$17.2M-112.8% |
| Share Buybacks | $1.2M+16.3% | $943K+22.8% | $1.6M-3.1% | N/A | $1.1M | $768K | $1.7M | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid.
TRNZ 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 | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'2510-Q | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 47.7%+11.1pp | 55.8%-6.3pp | 35.8%-7.4pp | 50.9%-18.3pp | 36.6%-4.6pp | 62.1%+2.6pp | 43.2%+13.8pp | 69.2%+29.6pp |
| Return on Equity | 3.5%+0.8pp | 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 |
| Return on Assets | 1.6%+0.4pp | 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 |
| Debt-to-Equity | 1.180.0x | 1.200.0x | 1.170.0x | 1.19+0.1x | 1.190.0x | 1.150.0x | 1.160.0x | 1.080.0x |
| Liabilities-to-Equity | 1.210.0x | 1.210.0x | 1.190.0x | 1.27+0.1x | 1.250.0x | 1.210.0x | 1.230.0x | 1.160.0x |
| Asset Turnover | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.040.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Where Trinity Capital Inc. 7.875% Notes Due 2029 Ranks
Frequently Asked Questions
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) 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.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) revenue grew by 23.3% year-over-year, from $226.7M to $279.5M in fiscal year 2025.
Yes, Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) reported a net income of $160.6M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $135.6M, with a net profit margin of 48.5%.
As of fiscal year 2025, Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had $19.1M in cash and equivalents against $1.3B in long-term debt.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had a net profit margin of 48.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) has a return on equity of 12.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) recorded an outflow of $535.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had $2.5B in total assets as of fiscal year 2025, including both current and long-term assets.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had a debt-to-equity ratio of 1.19 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had a liabilities-to-equity ratio of 1.27 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) 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.
For every $1 of reported earnings, Trinity Capital Inc. 7.875% Notes Due 2029 (TRNZ) 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.