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Trinity Capital Inc.

TRIN Financial Asset Management

Trinity Capital Inc.’s revenue for fiscal 2025 (year ended December 2025) was $293.7 million, up 23.5% from fiscal 2024. In the quarter to June 2026, revenue grew 25.5%, EPS fell 22.2%, free cash flow fell 60.8% and total debt fell 41.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

16.09 0.55 −3.31%
Market cap
$1.6B
P/E
9.2×
Fwd P/E
8.6×
Dividend yield
15.9%
F-score
2/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 1,580.00
Revenue 336.08
Net Income 141.34
Free Cash Flow (592.98)
Net Debt 259.92
Current Ratio 0.05
Debt/Equity 0.22
P/E ratio 9.19
Fwd P/E 8.63
P/S ratio 4.33
P/B ratio 1.15
Past 5Y EPS Growth —
This Y EPS Growth (0.01%) (below 0%: weak)
Next Y EPS Growth 1.28%
Next Y revenue growth (99.99%) (below 0%: weak)
Next 5Y EPS Growth (1.96%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 78.22%
10-year low 10-year high
P/S against its own 10 years 67.69%
10-year low 10-year high
P/B against its own 10 years 86.98%
10-year low 10-year high

Dividends

Payout Ratio 1.46
Annual Dividend Rate 2.55
Annual Dividend Yield 15.85%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.00
0.17
0.17
0.17
0.17
0.17
0.17
0.17
0.17
0.17
0.17
0.17
0.17
2025 0.00
0.51
0.51
0.51
0.51
2024 2.04
0.51
0.51
0.51
0.51
2023 0.97
0.47
0.05
0.05
0.50
2022 1.31
0.40
0.15
0.45
0.46
2021 1.26
0.28
0.29
0.33
0.36
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5 10 19 22
Receivables 11 17 19 19
Inventory — — — —
Other 18 16 22 27
36 49 66 73
2023 2024 2025 Q'26
Payables 23 31 42 —
ST’ Debt 213 113 374 282
Other — — — —
639 943 1,388 1,536

Compound Annual Growth %

10y 5y 3y
Sales — 39.81% 26.37%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 35.59% 33.52%

Revenue $m

Mar Jun Sep Dec Year
’26 90 87 — — —
’25 65 69 76 83 294
’24 50 55 62 71 238
’23 42 46 46 48 182
’22 32 33 39 42 146
’21 17 19 22 24 82
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (46) (199) — — —
’25 (63) (124) (184) (165) (535)
’24 (81) (22) (232) 18 (317)
’23 21 (36) 55 (136) (96)
’22 (52) (143) 11 (51) (236)
’21 (20) (35) (49) (137) (242)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (46) (199) — — —
’25 (63) (124) (184) (165) (536)
’24 (81) (22) (232) 18 (317)
’23 20 (37) 55 (137) (99)
’22 (52) (143) 11 (51) (236)
’21 (20) (36) (50) (137) (243)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.36 0.49 — — —
’25 0.43 0.63 0.39 0.51 1.96
’24 0.30 0.59 0.43 0.74 2.10
’23 0.60 0.52 0.40 0.39 1.89
’22 (0.33) (0.25) (0.36) (0.05) (0.96)
’21 1.08 0.93 0.94 1.83 4.64
’20 (1.09) 0.38 0.68 0.53 (0.34)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — 13.46 10.23 10.84 13.05 12.50

Analyst estimates 2026–2028

Powerpack
High — — — — — 17.79 20.26 15.44 15.26 16.82
People
People Employees — — — — 34 41 57 68 88 106
Revenue/emp, $m — — — — 1.62 2.00 2.55 2.67 2.70 2.77
Income, $m
Income, $m Revenue — — — — 55 82 146 182 238 294
Gross margin, % — — — — 100.00 100.00 100.00 100.00 100.00 100.00
EBT — — — (1) 9 132 (30) 77 116 136
EBT margin, % — — — 0.00 16.38 160.99 (20.88) 42.28 48.63 46.18
Net income — — — (1) (6) 132 (30) 77 116 136
Depreciation — — — — 3 4 4 4 5 5
Per share, $
Per share, $ Revenue — — — 0.00 3.04 3.16 4.59 4.67 4.51 4.24
Earnings — — — (52,400.00) (0.34) 5.09 (0.96) 1.98 2.19 1.96
Cash flow — — — 0.00 (3.22) (9.30) (7.44) (2.47) (6.01) (7.73)
Capex — — — 0.00 (0.01) (0.05) (0.01) (0.07) (0.01) (0.01)
Free cash flow — — — 0.00 (3.23) (9.35) (7.45) (2.54) (6.02) (7.74)
Book value — — — 0.00 13.20 17.19 14.51 15.71 15.61 15.79
Shares, m — — — 0 18 26 32 39 53 69
Valuation, ×
Valuation, × P/E — — — — 30.15 3.47 0.00 7.23 6.76 7.47
P/S — — — — 4.94 5.56 2.41 3.11 3.21 3.46
P/B — — — — 1.14 1.02 0.76 0.93 0.93 0.93
EV/Sales — — — — 7.09 6.67 3.96 4.52 3.85 4.83
EV/FCF — — — — (6.66) (2.26) (2.44) (8.31) (2.88) (2.65)
Cash, $m
Cash, $m Operating cash flow — — — — (58) (242) (236) (96) (317) (535)
Capex — — — — 0 (1) 0 (3) 0 (1)
Free cash flow — — — — (58) (243) (236) (99) (317) (536)
Balance, $m
Balance, $m Working capital — — — (1) (200) (369) (572) (603) (894) (1,321)
Total debt — — — — 179 138 236 262 162 374
Net debt — — — — 118 92 225 257 153 355
Shareholders’ equity — — — (1) 239 447 460 611 823 1,094
Returns, %
Returns, % ROA — — — (0.19) (2.16) 17.68 (2.94) 6.31 7.49 6.37
ROIC — — — 0.00 4.09 4.56 6.75 6.66 7.56 6.20
ROE — — — (0.44) (5.13) 38.62 (6.70) 14.36 16.12 14.15
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Trinity Capital Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GCMG GCM Grosvenor Inc. $2.6B 16.1× 14.7× −14.09% (below 0%: shrinking) −46.67% (below 0%: shrinking) −11.02% (below 0%: shrinking) 0.00% 0.00% Compare
ASST Strive, Inc. $2.6B — (loss-making) 17.5× +94.64% (above 0%: growing) n/m −10,264.43% (below 0%: shrinking) 100.00% (8,780.99%) Compare
PAX Patria Investments Limited $1.9B 25.4× 16.5× +34.86% (above 0%: growing) +13.12% (above 0%: growing) −42.40% (below 0%: shrinking) 37.82% 28.19% Compare
TSLX Sixth Street Specialty Lending, Inc. $1.7B 17.9× 17.1× −14.93% (below 0%: shrinking) −31.75% (below 0%: shrinking) −64.62% (below 0%: shrinking) 100.00% 73.38% Compare
TRIN Trinity Capital Inc. $1.6B 9.2× 8.6× +25.46% (above 0%: growing) −22.22% (below 0%: shrinking) −60.76% (below 0%: shrinking) 100.00% 80.88%
CSWC Capital Southwest Corporation $1.5B 12.2× 10.5× +9.12% (above 0%: growing) −20.00% (below 0%: shrinking) −366.44% (below 0%: shrinking) 100.00% 87.58% Compare
MSDL Morgan Stanley Direct Lending Fund $1.1B 18.9× 11.6× −10.79% (below 0%: shrinking) −78.05% (below 0%: shrinking) +331.94% (above 0%: growing) 100.00% 79.95% Compare
OCSL Oaktree Specialty Lending Corp. $1.0B 24.1× 22.2× −7.76% (below 0%: shrinking) −20.45% (below 0%: shrinking) +173.07% (above 0%: growing) 94.24% 82.04% Compare
GSBD Goldman Sachs BDC, Inc. $1.0B 16.8× 11.2× −7.97% (below 0%: shrinking) −38.24% (below 0%: shrinking) −69.26% (below 0%: shrinking) 100.00% 87.38% Compare
Median of peers $1.6B 17.9× 15.6× −7.86% −31.75% −53.51% 100.00% 76.67%

All 120 Asset Management stocks →

Trinity Capital Inc. (TRIN) key facts

  • Strength: Trinity Capital Inc.’s revenue for fiscal 2025 (year ended December 2025) was $293.7 million, up 23.5% from fiscal 2024.
  • Trinity Capital Inc. (TRIN) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, TRIN traded at $16.09, a market capitalization of $1.6 billion.
  • Trinity Capital Inc. pays an annual dividend of $2.55 per share, a yield of 15.9%, with a payout ratio of 145.7%.
  • Return on equity was 14.2% and debt-to-equity 0.22.
  • Its Piotroski F-score is 2 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Trinity Capital Inc. (TRIN) Latest News

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stockrow.com/TRIN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com