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Trinity Capital Inc. - 7.875% Notes Due 2029 (TRINI) Financials

Trinity Capital Inc. - 7.875% Notes Due 2029 logo
$25.43 0.00 (0.00%)
As of 06/12/2026 04:00 PM Eastern
This is a fair market value price provided by Massive. Learn more.
Annual Income Statements for Trinity Capital Inc. - 7.875% Notes Due 2029

Annual Income Statements for Trinity Capital Inc. - 7.875% Notes Due 2029

This table shows Trinity Capital Inc. - 7.875% Notes Due 2029's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -6.11 132 -10 77 116 136
Consolidated Net Income / (Loss)		 -6.11 132 -10 77 116 136
Net Income / (Loss) Continuing Operations		 -6.11 132 -10 77 116 136
Total Pre-Tax Income 		-6.11 52 -10 62 106 80
Total Revenue		 34 89 0.00 154 228 229
Net Interest Income / (Expense)		 23 77 0.00 175 227 280
Total Interest Income		 55 77 0.00 175 227 280
Investment Securities Interest Income		 43 77 - 175 227 280
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 -9.40 13 0.00 -21 1.23 -50
Other Service Charges		 - - - 7.02 11 14
Net Realized & Unrealized Capital Gains on Investments		 -9.40 13 - -28 -9.73 -64
Total Non-Interest Expense		 40 38 10 92 122 150
Salaries and Employee Benefits		 10 16 - 33 44 51
Other Operating Expenses		 14 1.68 10 59 78 98
Other Gains / (Losses), net		 - 81 - 15 9.48 56
Basic Earnings per Share		 ($0.34) $5.09 - $1.98 $2.19 $1.96
Weighted Average Basic Shares Outstanding		 18.09M 25.98M 31.67M 38.91M 52.71M 69.29M
Diluted Earnings per Share		 ($0.34) $4.64 - $1.89 $2.10 $1.96
Weighted Average Diluted Shares Outstanding		 18.09M 29.32M 31.67M 42.71M 56.73M 69.29M
Weighted Average Basic & Diluted Shares Outstanding		 - - 31.67M 46.44M 62.83M 83.17M

Quarterly Income Statements for Trinity Capital Inc. - 7.875% Notes Due 2029

This table shows Trinity Capital Inc. - 7.875% Notes Due 2029's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 15 13 13 28 24 49 27 38 28 46 30
Consolidated Net Income / (Loss)		 17 18 15 31 24 46 27 41 28 39 30
Net Income / (Loss) Continuing Operations		 15 13 13 28 24 49 27 38 28 46 30
Total Pre-Tax Income 		20 36 25 17 15 57 30 23 17 12 35
Total Revenue		 43 149 51 45 48 212 63 58 56 55 80
Net Interest Income / (Expense)		 45 -41 49 52 59 -45 63 67 73 78 83
Total Interest Income		 45 -41 49 52 59 -45 63 67 73 78 83
Investment Securities Interest Income		 45 -41 49 52 59 -45 63 67 73 78 83
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 -1.87 190 1.35 -6.49 -11 258 0.56 -8.26 -17 -23 -3.12
Other Service Charges		 - - - - 2.58 - 2.71 - 2.98 - 6.81
Net Realized & Unrealized Capital Gains on Investments		 -1.87 183 1.35 -6.49 -14 247 -2.15 -8.26 -20 -34 -9.93
Total Non-Interest Expense		 23 113 25 28 32 156 33 35 39 42 46
Salaries and Employee Benefits		 8.69 8.43 9.86 9.94 12 12 11 12 13 15 17
Other Operating Expenses		 3.56 49 3.29 4.07 21 67 22 4.65 25 63 28
Other Gains / (Losses), net		 -4.72 - -12 11 8.92 - -3.14 15 11 33 -4.73
Basic Earnings per Share		 $0.42 $0.37 $0.31 $0.61 $0.45 $0.82 $0.43 $0.63 $0.39 $0.51 $0.36
Weighted Average Basic Shares Outstanding		 40.12M 38.91M 46.75M 50.16M 54.41M 52.71M 62.56M 65.91M 71.47M 69.29M 83.64M
Diluted Earnings per Share		 $0.40 $0.37 $0.30 $0.59 $0.43 $0.78 $0.43 $0.63 $0.39 $0.51 $0.36
Weighted Average Diluted Shares Outstanding		 43.85M 42.71M 50.60M 54.06M 58.37M 56.73M 62.56M 65.91M 71.47M 69.29M 83.64M
Weighted Average Basic & Diluted Shares Outstanding		 43.63M 46.44M 49.48M 53.37M 58.91M 62.83M 64.65M 70.31M 75.68M 83.17M 89.89M

Annual Cash Flow Statements for Trinity Capital Inc. - 7.875% Notes Due 2029

This table details how cash moves in and out of Trinity Capital Inc. - 7.875% Notes Due 2029's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 61 -14 -36 -5.85 4.87 9.48
Net Cash From Operating Activities		 -58 -242 -236 -96 -317 -535
Net Cash From Continuing Operating Activities		 -58 -242 -236 -96 -317 -535
Net Income / (Loss) Continuing Operations		 -6.11 132 -30 77 116 136
Consolidated Net Income / (Loss)		 -6.11 132 -30 77 116 136
Amortization Expense		 -8.71 -17 -28 -29 -34 -46
Non-Cash Adjustments to Reconcile Net Income		 -49 -358 -183 -139 -400 -630
Changes in Operating Assets and Liabilities, net		 6.04 0.73 5.69 -5.46 1.95 4.40
Net Cash From Investing Activities		 -92 -1.20 -0.19 -2.74 -0.42 -0.79
Net Cash From Continuing Investing Activities		 -92 -1.20 -0.19 -2.74 -0.42 -0.79
Purchase of Investment Securities		 -92 -1.20 -0.19 -2.74 -0.42 -0.79
Net Cash From Financing Activities		 211 229 200 93 322 546
Net Cash From Continuing Financing Activities		 211 229 200 93 322 546
Issuance of Debt		 204 377 380 420 1,188 1,923
Issuance of Common Equity		 125 105 113 150 200 290
Repayment of Debt		 -97 -228 -230 -395 -959 -1,526
Repurchase of Common Equity		 0.00 0.00 -2.01 -1.00 0.00 0.00
Payment of Dividends		 -10 -25 -61 -79 -103 -136
Other Financing Activities, Net		 -11 -0.14 -1.03 -2.82 -3.73 -4.36
Cash Interest Paid		 13 14 29 40 55 69
Cash Income Taxes Paid		 0.00 0.00 0.28 2.30 2.60 2.72

Quarterly Cash Flow Statements for Trinity Capital Inc. - 7.875% Notes Due 2029

This table details how cash moves in and out of Trinity Capital Inc. - 7.875% Notes Due 2029's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -5.04 -2.47 7.21 34 -38 1.09 -1.24 18 -17 9.64 0.52
Net Cash From Operating Activities		 55 -136 -81 -22 -232 18 -63 -124 -184 -165 -46
Net Cash From Continuing Operating Activities		 55 -136 -81 -22 -232 18 -63 -124 -184 -165 -46
Net Income / (Loss) Continuing Operations		 17 18 15 31 24 46 27 41 28 39 30
Consolidated Net Income / (Loss)		 17 18 15 31 24 46 27 41 28 39 30
Amortization Expense		 -7.73 -7.98 -6.10 -7.10 -8.76 -12 -9.77 -11 -12 -13 -14
Non-Cash Adjustments to Reconcile Net Income		 43 -147 -79 -50 -249 -22 -53 -170 -198 -208 -43
Changes in Operating Assets and Liabilities, net		 3.79 1.11 -11 4.11 1.34 7.25 -27 16 -1.08 17 -18
Net Cash From Investing Activities		 -0.75 -0.53 -0.03 -0.13 -0.13 -0.14 -0.11 -0.18 -0.07 -0.43 -0.42
Net Cash From Continuing Investing Activities		 -0.75 -0.53 -0.03 -0.13 -0.13 -0.14 -0.11 -0.18 -0.07 -0.43 -0.42
Purchase of Investment Securities		 -0.75 -0.53 -0.03 -0.13 -0.13 -0.14 -0.11 -0.18 -0.07 -0.43 -0.42
Net Cash From Financing Activities		 -60 134 89 56 195 -17 62 142 167 175 47
Net Cash From Continuing Financing Activities		 -60 134 89 56 195 -17 62 142 167 175 47
Issuance of Debt		 68 205 260 192 437 299 401 331 559 631 348
Issuance of Common Equity		 92 45 24 47 79 50 30 82 83 95 78
Repayment of Debt		 -200 -92 -171 -157 -295 -336 -337 -238 -438 -513 -294
Repurchase of Common Equity		 - - 0.00 - - - -1.70 - - - -1.64
Payment of Dividends		 -19 -23 -23 -24 -26 -29 -31 -32 -35 -38 -84
Cash Interest Paid		 10 9.15 10 11 1.97 32 14 19 15 21 23
Cash Income Taxes Paid		 - - 2.52 - 0.08 0.00 2.72 - - - 2.88

Annual Balance Sheets for Trinity Capital Inc. - 7.875% Notes Due 2029

This table presents Trinity Capital Inc. - 7.875% Notes Due 2029's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,704 1,126 1,311 1,774 2,485
Cash and Due from Banks		 - 11 4.76 9.63 19
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00
Deferred Acquisition Cost		 - 2.90 2.14 6.59 5.87
Other Assets		 1,704 1,117 29 37 2,460
Total Liabilities & Shareholders' Equity		 -182,069 1,126 1,311 1,774 2,485
Total Liabilities		 -182,069 667 700 951 1,391
Non-Interest Bearing Deposits		 - 15 12 8.47 3.01
Short-Term Debt		 - 188 213 113 374
Long-Term Debt		 -182,263 423 427 765 1,643
Other Long-Term Liabilities		 194 41 48 65 93
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.00 460 611 823 1,094
Total Preferred & Common Equity		 0.00 460 611 823 1,094
Total Common Equity		 0.00 460 611 823 1,094
Common Stock		 - 481 634 830 1,100
Retained Earnings		 - -21 -23 -6.71 -6.43

Quarterly Balance Sheets for Trinity Capital Inc. - 7.875% Notes Due 2029

This table presents Trinity Capital Inc. - 7.875% Notes Due 2029's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,097 1,123 1,189 1,151 1,410 1,505 1,735 1,857 2,045 2,247 2,556
Cash and Due from Banks		 34 8.34 12 7.23 12 46 8.54 8.39 26 9.47 20
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Acquisition Cost		 3.09 2.71 2.52 2.33 1.96 1.77 5.94 6.23 5.87 6.26 5.46
Other Assets		 27 21 1,178 1,144 1,398 1,459 1,722 53 35 39 2,531
Total Liabilities & Shareholders' Equity		 1,097 1,123 1,189 1,151 1,410 1,505 1,735 1,857 2,045 2,247 2,556
Total Liabilities		 614 654 707 581 783 825 978 1,024 1,121 1,249 1,390
Non-Interest Bearing Deposits		 15 15 15 14 11 11 9.39 7.02 5.92 4.41 2.23
Short-Term Debt		 138 184 232 100 190 255 290 392 483 482 428
Long-Term Debt		 422 424 425 426 539 510 623 567 570 693 1,645
Other Long-Term Liabilities		 40 31 35 41 43 49 56 58 63 70 39
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 482 470 482 569 626 680 757 833 924 998 1,166
Total Preferred & Common Equity		 482 470 482 569 626 680 757 833 924 998 1,166
Total Common Equity		 482 470 482 569 626 680 757 833 924 998 1,166
Common Stock		 488 485 497 591 659 709 790 846 930 1,015 1,186
Retained Earnings		 -5.23 -15 -15 -21 -33 -29 -34 -12 -6.27 -17 -19

Annual Metrics And Ratios for Trinity Capital Inc. - 7.875% Notes Due 2029

This table displays calculated financial ratios and metrics derived from Trinity Capital Inc. - 7.875% Notes Due 2029's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.96) $1.98 $2.19 $1.96
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 31.67M 38.91M 52.71M 69.29M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.96) $1.89 $2.10 $1.96
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 35.19M 42.71M 56.73M 69.29M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $2.14 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 34.92M 46.44M 62.83M 83.17M
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Trinity Capital Inc. - 7.875% Notes Due 2029

This table displays calculated financial ratios and metrics derived from Trinity Capital Inc. - 7.875% Notes Due 2029's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 83,174,913.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 83,174,913.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.36
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 435.64% 690.06% 27.06% 153.09% 4.97% 42.62% 19.27% 28.89% 15.95% - 26.83%
EBITDA Growth		 164.94% 153.91% 52.87% 177.37% -67.62% 56.63% -10.38% 16.04% -22.83% - -0.61%
EBIT Growth		 267.79% 95.06% 39.77% 389.40% -36.53% 55.85% 6.53% 33.31% 9.44% - 14.32%
NOPAT Growth		 339.70% 95.06% 39.77% 513.43% -36.53% 55.85% 6.53% 33.31% 9.44% - 14.32%
Net Income Growth		 240.18% -4.82% -35.48% 55.05% 45.06% 159.04% 86.70% 34.34% 13.30% - 10.13%
EPS Growth		 211.11% 0.00% -50.00% 13.46% 7.50% 110.81% 43.33% 6.78% -9.30% - -16.28%
Operating Cash Flow Growth		 418.38% -168.79% -492.37% 39.41% -518.16% 113.50% 22.19% -464.31% 20.86% - 27.75%
Free Cash Flow Firm Growth		 200.55% 0.00% -11,293.53% -33,717.70% -176.72% -172.68% 69.04% 64.40% 70.58% - -247.20%
Invested Capital Growth		 -100.00% 16.87% 18,843.82% 0.00% 0.00% 35.97% 32.22% 36.78% 30.16% - 80.67%
Revenue Q/Q Growth		 140.91% 245.16% 9.29% -12.13% -0.08% 368.98% -71.52% -3.42% -5.01% - 46.27%
EBITDA Q/Q Growth		 192.75% 128.08% 28.22% -49.29% -61.18% 1,003.11% -60.88% -30.74% -56.83% - 4,087.65%
EBIT Q/Q Growth		 433.91% 80.19% 10.90% -34.17% -26.77% 342.47% -52.06% -14.18% -27.18% - 177.91%
NOPAT Q/Q Growth		 577.02% 80.19% 10.90% -34.17% -26.77% 342.47% -52.06% -14.18% -27.18% - 177.91%
Net Income Q/Q Growth		 -15.40% 5.25% -18.05% 112.49% -20.85% 87.95% -40.94% 52.89% -33.25% - -24.40%
EPS Q/Q Growth		 -23.08% -7.50% -18.92% 96.67% -27.12% 81.40% -44.87% 46.51% -38.10% - -29.41%
Operating Cash Flow Q/Q Growth		 253.58% -345.76% 40.31% 73.11% -959.90% 107.93% -444.13% -95.03% -48.64% - 72.26%
Free Cash Flow Firm Q/Q Growth		 51,254.91% -106.68% -8.43% -4,962.04% -12,041.20% 76.26% -4.14% -24.07% 4.26% - -0.97%
Invested Capital Q/Q Growth		 0.00% 0.00% 8.38% 33,463.21% 46,556.82% 1.87% 5.39% 10.27% 9.94% - 4.10%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 28.74% 18.99% 39.55% 22.82% 8.87% 20.86% 28.65% 20.55% 9.34% - 25.36%
EBIT Margin		 46.64% 24.35% 51.36% 38.48% 28.20% 26.61% 44.79% 39.80% 30.51% - 43.09%
Profit (Net Income) Margin		 38.97% 11.88% 28.11% 67.98% 53.85% 21.58% 44.76% 70.85% 49.79% - 37.20%
Tax Burden Percent		 83.54% 48.80% 54.73% 176.65% 190.94% 81.11% 99.92% 178.02% 163.18% - 86.32%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 4.92% 5.26% 12.05% 2.05% 1.37% 6.40% 10.37% 8.79% 6.12% - 4.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.61% 2.29% 8.80% 5.54% 3.92% 4.99% 10.37% 10.78% 7.14% - 3.91%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2.67% 10.34% 6.24% 4.72% 5.28% 12.00% 12.22% 8.50% - 5.92%
Return on Equity (ROE)		 0.00% 7.93% 22.40% 8.28% 6.09% 11.67% 22.37% 21.01% 14.62% - 10.14%
Cash Return on Invested Capital (CROIC)		 0.00% -9.58% -188.43% -197.37% -198.60% -22.81% -20.44% -24.01% -19.85% - -54.14%
Operating Return on Assets (OROA)		 4.91% 5.01% 11.59% 1.96% 1.32% 6.12% 10.00% 8.47% 5.90% - 4.81%
Return on Assets (ROA)		 4.11% 2.44% 6.35% 3.47% 2.52% 4.96% 9.99% 15.07% 9.64% - 4.15%
Return on Common Equity (ROCE)		 0.00% 7.93% 22.40% 8.28% 6.09% 11.67% 22.37% 21.01% 14.62% - 10.14%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 11.00% -1.33% -0.19% 0.00% 15.38% 15.02% 14.23% - 11.86%
Net Operating Profit after Tax (NOPAT)		 20 36 27 17 13 57 27 23 17 - 35
NOPAT Margin		 46.64% 24.35% 51.36% 38.48% 28.20% 26.61% 44.79% 39.80% 30.51% - 43.09%
Net Nonoperating Expense Percent (NNEP)		 0.31% 2.97% 3.26% -3.50% -2.55% 1.41% 0.00% -2.00% -1.03% - 0.31%
SG&A Expenses to Revenue		 20.14% 5.66% 19.11% 21.93% 25.44% 5.73% 17.59% 21.37% 24.11% - 21.53%
Operating Expenses to Revenue		 53.36% 75.65% 48.64% 61.52% 71.80% 73.39% 55.21% 60.20% 69.49% - 56.91%
Earnings before Interest and Taxes (EBIT)		 20 36 27 17 13 57 27 23 17 - 35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 28 20 10 4.02 44 17 12 5.19 - 20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.90 0.92 0.96 0.92 1.04 1.14 0.98 1.09 - 1.04
Price to Tangible Book Value (P/TBV)		 0.00 0.90 0.92 0.96 0.92 1.04 1.14 0.98 1.09 - 1.04
Price to Revenue (P/Rev)		 3.81 2.19 3.59 16.94 17.24 2.40 2.61 2.41 2.83 - 4.91
Price to Earnings (P/E)		 8.47 7.93 8.97 0.00 0.00 7.52 7.69 6.79 7.94 - 8.75
Dividend Yield		 16.27% 15.40% 15.03% 15.28% 15.49% 14.10% 13.46% 14.50% 13.18% - 7.01%
Earnings Yield		 11.80% 12.62% 11.14% 0.00% 0.00% 13.29% 13.00% 14.72% 12.60% - 11.43%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.95 0.95 0.95 0.96 1.01 1.06 0.98 1.04 - 1.01
Enterprise Value to Revenue (EV/Rev)		 3.78 4.73 8.08 35.65 39.53 4.85 5.22 5.13 5.85 - 13.25
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 29.12 36.54 0.00 0.00 21.75 24.69 24.59 29.19 - 96.23
Enterprise Value to EBIT (EV/EBIT)		 15.53 17.08 20.03 72.01 137.49 15.19 16.56 16.03 18.44 - 38.80
Enterprise Value to NOPAT (EV/NOPAT)		 15.53 17.08 20.03 72.01 137.49 15.19 16.56 16.03 18.44 - 38.80
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 1.05 1.16 1.12 1.21 1.07 1.15 1.14 1.18 - 1.78
Long-Term Debt to Equity		 0.00 0.70 0.86 0.75 0.82 0.93 0.68 0.62 0.69 - 1.41
Financial Leverage		 0.00 1.17 1.18 1.12 1.21 1.06 1.16 1.13 1.19 - 1.52
Leverage Ratio		 0.00 2.28 2.26 2.21 2.29 2.15 2.24 2.21 2.27 - 2.21
Compound Leverage Factor		 0.00 2.28 2.26 2.21 2.29 2.15 2.24 2.21 2.27 - 2.21
Debt to Total Capital		 100.00% 51.14% 53.80% 52.94% 54.67% 51.61% 53.50% 53.27% 54.06% - 63.99%
Short-Term Debt to Total Capital		 0.00% 17.03% 14.02% 17.63% 17.37% 6.64% 21.87% 24.44% 22.16% - 13.20%
Long-Term Debt to Total Capital		 100.00% 34.11% 39.78% 35.31% 37.29% 44.96% 31.63% 28.83% 31.89% - 50.78%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 0.00% 48.86% 46.20% 47.06% 45.33% 48.39% 46.50% 46.73% 45.94% - 36.01%
Debt to EBITDA		 4.05 15.72 20.63 -77.33 -49.92 11.10 12.44 13.37 15.21 - 61.12
Net Debt to EBITDA		 4.05 15.61 20.29 -72.67 -49.46 10.97 12.33 13.04 15.09 - 60.54
Long-Term Debt to EBITDA		 4.05 10.49 15.25 -51.58 -34.06 9.67 7.35 7.24 8.98 - 48.51
Debt to NOPAT		 -0.10 9.22 11.30 40.22 78.25 7.75 8.34 8.72 9.61 - 24.64
Net Debt to NOPAT		 -0.10 9.15 11.12 37.79 77.52 7.66 8.27 8.50 9.53 - 24.41
Long-Term Debt to NOPAT		 -0.10 6.15 8.36 26.83 53.39 6.75 4.93 4.72 5.67 - 19.56
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,159 -144 -1,322 -1,427 -1,657 -393 -410 -508 -487 - -1,411
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.21 0.23 0.05 0.05 0.23 0.22 0.21 0.19 - 0.11
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 1,251 1,356 1,445 1,669 1,701 1,792 1,976 2,173 - 3,238
Invested Capital Turnover		 0.11 0.22 0.23 0.05 0.05 0.24 0.23 0.22 0.20 - 0.10
Increase / (Decrease) in Invested Capital		 -2,139 181 1,348 1,445 1,669 450 437 531 504 - 1,446
Enterprise Value (EV)		 426 1,185 1,292 1,370 1,603 1,720 1,903 1,936 2,254 - 3,262
Market Capitalization		 429 550 575 651 699 852 953 910 1,088 - 1,210
Book Value per Share		 $0.00 $14.01 $13.40 $13.74 $14.18 $13.97 $13.26 $14.29 $14.20 - $14.02
Tangible Book Value per Share		 $0.00 $14.01 $13.40 $13.74 $14.18 $13.97 $13.26 $14.29 $14.20 - $14.02
Total Capital		 -2.76 1,251 1,356 1,445 1,669 1,701 1,792 1,976 2,173 - 3,238
Total Debt		 -2.76 640 729 765 913 878 959 1,053 1,175 - 2,072
Total Long-Term Debt		 -2.76 427 539 510 623 765 567 570 693 - 1,645
Net Debt		 -2.76 635 717 719 904 868 951 1,027 1,165 - 2,052
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Expense (NNE)		 3.31 19 12 -13 -12 11 0.02 -18 -11 - 4.73
Net Nonoperating Obligations (NNO)		 0.00 640 729 765 913 878 959 1,053 1,175 - 2,072
Total Depreciation and Amortization (D&A)		 -7.73 -7.98 -6.10 -7.10 -8.76 -12 -9.77 -11 -12 - -14
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.42 $0.37 $0.31 $0.61 $0.45 $0.82 $0.43 $0.63 $0.39 $0.51 $0.36
Adjusted Weighted Average Basic Shares Outstanding		 40.12M 38.91M 46.75M 50.16M 54.41M 52.71M 62.56M 65.91M 71.47M 69.29M 83.64M
Adjusted Diluted Earnings per Share		 $0.40 $0.37 $0.30 $0.59 $0.43 $0.78 $0.43 $0.63 $0.39 $0.51 $0.36
Adjusted Weighted Average Diluted Shares Outstanding		 43.85M 42.71M 50.60M 54.06M 58.37M 56.73M 62.56M 65.91M 71.47M 69.29M 83.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 43.63M 46.44M 49.48M 53.37M 58.91M 62.83M 64.65M 70.31M 75.68M 83.17M 89.89M
Normalized Net Operating Profit after Tax (NOPAT)		 22 64 27 22 21 93 31 29 12 - 24
Normalized NOPAT Margin		 50.14% 43.14% 52.43% 48.37% 45.80% 43.91% 51.78% 49.47% 21.36% - 30.16%
Pre Tax Income Margin		 46.64% 24.35% 51.36% 38.48% 28.20% 26.61% 44.79% 39.80% 30.51% - 43.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 132.46% 102.48% 117.48% -986.15% -6,609.60% 88.70% 86.50% 85.51% 89.92% - 136.42%
Augmented Payout Ratio		 137.68% 103.79% 117.48% -986.15% -6,609.60% 88.70% 86.50% 85.51% 89.92% - 136.38%

Financials Breakdown Chart

Key Financial Trends

Trinity Capital’s recent results show a company that is still profitable, but with a much more volatile earnings and cash flow profile than a year ago. In Q1 2026, Trinity reported net income of $29.8 million, down from $39.5 million in Q4 2025 and below the unusually strong $45.9 million in Q4 2024. Revenue also softened sequentially, while expenses remained elevated. The balance sheet is still sizeable, but debt remains a major part of the capital structure, and operating cash flow was negative in the latest quarter even though financing activity kept cash roughly flat.

  • Q1 2026 remained profitable with net income of $29.8 million, showing Trinity is still generating earnings despite a tougher quarter.
  • Interest income stayed strong at $83.3 million in Q1 2026, up from $77.6 million in Q4 2025 and $62.7 million in Q1 2025.
  • Pre-tax income improved year over year to $34.6 million from $30.2 million in Q1 2025, indicating the core earnings engine is still producing results.
  • Cash and equivalents rose modestly to $19.6 million in Q1 2026 from $9.5 million in Q3 2025, helped by financing activity.
  • Book equity expanded meaningfully over the past year, with total common equity rising to $1.17 billion in Q1 2026 from $833.4 million in Q1 2025.
  • Debt issuance continues to support growth, and Trinity has repeatedly accessed debt markets to fund operations and investments.
  • EPS was steady at $0.36 in Q1 2026, but that was below $0.51 in Q4 2025 and below the $0.43 reported in Q1 2025.
  • Revenue composition remains investment-income driven, with non-interest income still negative in Q1 2026 because of investment marks and other losses.
  • The company’s asset base is large and growing, with total assets at $2.56 billion in Q1 2026 versus $1.86 billion in Q1 2025.
  • Share count has been moving around, which can make per-share comparisons less straightforward from quarter to quarter.
  • Operating cash flow was negative in Q1 2026 at $(45.8) million, versus negative $(165.0) million in Q4 2025, showing earnings do not consistently convert into operating cash.
  • Non-cash adjustments remain a major drag, indicating a large gap between reported earnings and cash generation.
  • Debt levels remain high at $2.07 billion of short- and long-term debt combined in Q1 2026, leaving the business meaningfully leveraged.
  • Dividend payments are a continuing cash use, with $83.5 million paid in Q1 2026, which adds pressure on cash resources.
  • Investments produced negative marks in multiple quarters, including $(9.9) million in Q1 2026, which can make earnings more volatile.

Bottom line: Trinity Capital continues to look profitable and asset-rich, but the trend over the last several quarters shows softer sequential earnings, negative operating cash flow, and a levered balance sheet. For retail investors, that means TRIN still offers income and earnings power, but the quality and consistency of those earnings deserve close attention.

06/13/26 05:21 PM ETAI Generated. May Contain Errors.

Trinity Capital Inc. - 7.875% Notes Due 2029 Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Trinity Capital Inc. - 7.875% Notes Due 2029's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Trinity Capital Inc. - 7.875% Notes Due 2029's net income appears to be on an upward trend, with a most recent value of $135.60 million in 2025, falling from -$6.11 million in 2020. The previous period was $115.60 million in 2024.

Over the last 5 years, Trinity Capital Inc. - 7.875% Notes Due 2029's total revenue changed from $33.60 million in 2020 to $229.32 million in 2025, a change of 582.6%.

Trinity Capital Inc. - 7.875% Notes Due 2029's total liabilities were at $1.39 billion at the end of 2025, a 46.2% increase from 2024, and a 100.8% decrease since 2021.

In the past 4 years, Trinity Capital Inc. - 7.875% Notes Due 2029's cash and equivalents has ranged from $0.00 in 2021 to $19.11 million in 2025, and is currently $19.11 million as of their latest financial filing in 2025.



Financial statements for NASDAQ:TRINI last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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