Trinity Capital Inc.
Financial ServicesNASDAQ:TRIN · NASDAQ Global Select
-$0.01 today
Vol 0.74M · Avg 1.16M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$276.0M of revenue converted into $154.0M of net income for the selected period. Gross margin is 81.0% and net margin is 57.3%, showing how much revenue survives after costs and taxes. EPS is $2.06, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $232.3M -2.2% | $237.4M +35.8% | $174.8M +301.6% | $43.5M -75.2% | $175.5M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $0 -100.0% | $61.9M +87.2% | $33.1M -3.1% | $34.1M +67.4% | $20.4M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $232.3M +32.3% | $175.5M +23.8% | $141.7M +1409.4% | $9.4M -93.9% | $155.1M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 100.0% +26.1pp | 73.9% -7.2pp | 81.1% +59.5pp | 21.6% -66.8pp | 88.4% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $17.9M +26.6% | $14.2M +18.1% | $12.0M +17.8% | $10.2M +45.7% | $7.0M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $16.1M -71.9% | $57.2M +376.6% | $12.0M -67.9% | $37.4M +66.0% | $22.5M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $0 | $0 +100.0% | -$8.6M | $0 | $0 | $374.2M | $1.2B | $631.8M |
| EBITDA | $216.2M +82.8% | $118.3M -2.4% | $121.2M +533.0% | -$28.0M -121.1% | $132.6M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 93.1% +43.3pp | 49.8% -19.5pp | 69.3% +133.6pp | -64.3% -139.8pp | 75.5% | 5.6% | 46.3% | 42.0% |
| Operating Income | $216.2M +82.8% | $118.3M -8.8% | $129.7M +563.6% | -$28.0M -121.1% | $132.6M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 93.1% +43.3pp | 49.8% -24.4pp | 74.2% +138.5pp | -64.3% -139.8pp | 75.5% | 16.6% | 24.1% | 22.0% |
| Interest Income | $293.7M +29.5% | $226.7M +29.7% | $174.8M +25.9% | $138.8M +81.2% | $76.6M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $80.6M +30.1% | $61.9M +39.9% | $44.3M +29.7% | $34.1M +67.4% | $20.4M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$80.6M | $0 +100.0% | -$50.3M | $0 | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $135.6M +14.7% | $118.3M +48.9% | $79.5M +383.9% | -$28.0M -121.1% | $132.6M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 58.4% +8.6pp | 49.8% +4.4pp | 45.4% +109.7pp | -64.3% -139.8pp | 75.5% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $0 -100.0% | $2.7M +4.6% | $2.6M +7.2% | $2.4M +836.9% | $255.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | $135.6M +17.3% | $115.6M +50.3% | $76.9M +353.1% | -$30.4M -123.0% | $132.3M | $4.9B | $4.8B | $4.7B |
| Net Margin | 58.4% +9.7pp | 48.7% +4.7pp | 44.0% +113.7pp | -69.8% -145.2pp | 75.4% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $2 -10.5% | $2 +5.8% | $2 +315.6% | -$1 -119.8% | $5 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $2 -6.7% | $2 +11.1% | $2 +296.9% | -$1 -119.8% | $5 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $69.3M +31.5% | $52.7M +35.5% | $38.9M +22.9% | $31.7M +16.3% | $27.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $69.3M +22.1% | $56.7M +32.8% | $42.7M +34.8% | $31.7M +16.3% | $27.2M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Capital Southwest Corporation
NASDAQ:CSWC
$1.46B
Horizon Technology Finance Corp
NYSE:HTFC
$1.16B
ASA Gold and Precious Metals Limited
NYSE:ASA
$1.08B
Goldman Sachs BDC, Inc.
NYSE:GSBD
$1.04B
Kayne Anderson BDC, Inc.
NYSE:KBDC
$963.40M
MidCap Financial Investment Corporation
NASDAQ:MFIC
$837.73M
Bain Capital Specialty Finance, Inc.
NYSE:BCSF
$836.80M
Carlyle Secured Lending, Inc.
NASDAQ:CGBD
$763.08M
New Mountain Finance Corporation
NASDAQ:NMFC
$750.90M
Horizon Technology Finance Corporation
NASDAQ:HRZN
$192.40M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does TRIN generate?
Trinity Capital Inc. (TRIN) reported $232.25M of revenue in fiscal 2025.
Is TRIN profitable?
Trinity Capital Inc. (TRIN) reported $135.60M of net income, with a net margin of 58.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.