Triumph Financial, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Triumph Financial, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	2.72	3.23	4.97	6.13	4.72	5.3	7.76	6.74	6.18	7.2
Interest expense	12.1	21.5	35.9	55.3	37.4	18.4	18.7	54.3
Pre-tax income	33.5	61.1	66.5	75.4	84.7	145	137	52.8	20.5	33
Income tax	12.8	24.9	14.8	16.9	20.7	32	34.7	11.7	4.38	7.63
Net income	20.7	36.2	51.7	58.5	64	113	102	41.1	16.1	25.4
EPS, basic	1.11	1.85	2.06	2.26	2.56	4.44	4.06	1.63	0.55	0.94
EPS, diluted	1.10	1.81	2.03	2.25	2.53	4.35	3.96	1.61	0.54	0.93
Shares, basic (weighted)	17.9	19.1	24.8	25.9	24.4	24.7	24.4	23.2	23.3	23.6
Shares, diluted (weighted)	18.1	20	25.5	26.1	24.6	25.3	25	23.6	23.8	23.8

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	115	134	235	198	314	383	408	287	330	248
Property, plant and equipment	45.5	62.9	83.4	96.6	103	106	103	113	161	91.1
Lease right-of-use assets				21.1	18.1	32.8	31	29.5	26.6	22.7
Goodwill	28.8	44.1	159	159	163	234	234	234	242	355
Intangible assets	17.7	19.7	40.7	31.5	26.7	43.1	32.1	23.6	16.3	47.9
Total assets	2,641	3,499	4,560	5,060	5,936	5,956	5,334	5,347	5,949	6,381
Total liabilities	2,352	3,107	3,923	4,424	5,209	5,097	4,445	4,483	5,058	5,439
Total debt					192	27.1
Paid-in capital	197	265	469	473	489	511	535	551	568	597
Retained earnings	83.9	119	170	229	290	399	498	536	549	571
Treasury stock	-1.37	-1.78	-2.29	-67.1	-103	-105	-183	-265	-268	-271
Other comprehensive income	-0.28	-0.6	-1.2	1.11	5.82	8.03	-6.9	-2.93	-3.12	-1.74
Shareholders' equity	289	392	637	637	727	859	889	864	891	942
Total equity	289	392	637	637	727	859	889	864	891	942
Total liabilities and equity	2,641	3,499	4,560	5,060	5,936	5,956	5,334	5,347	5,949	6,381
Shares outstanding	18.1	20.8	26.9	25	24.9	25.2	24.1	23.3	23.4	23.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	20.7	36.2	51.7	58.5	64	113	102	41.1	16.1	25.4
Depreciation and amortization	2.82	4	5.72	8.14	10.7	12	13.3	13.8	15.5	14.9
Stock-based compensation	2.37	1.8	2.74	3.65	4.62	20.3	21.2	13.2	14.5	14
Deferred income tax	1.94	10.2	0.71	3.91	-2.08	-5.83	-1.83	6.55	-4.76	6.29
Cash from operations	31	47.3	73.8	72.5	97.3	137	80.8	60	58.5	67.1
Acquisitions	-14.5	45.3	-142	0	-108	-96.9	0	0	-10	-137
Purchases of investments	-17.9	-5.04	-19.9	-80.5	-134	-58.8	-141	-72	-205	-105
Sales and maturities of investments	31.8	89.4	78.7	129	96.8	99.2	26.3	28.8	123	124
Cash from investing	-274	-380	-268	-520	-775	77.7	666	-130	-590	-525
Stock issued		65.5	192	0	0	0		0.14
Share buybacks	-0.65	-0.37	-0.4	-64.5	-35.8	-1.24	-76.7	-81.6	-3.29	-2.23
Dividends paid					-1.7	-3.21	-3.21	-3.21	-3.21	-3.21
Cash from financing	252	352	295	411	794	-146	-722	-52.1	575	377
Net change in cash	9.24	19.6	101	-37.1	117	68.8	25	-122	43.5	-81.6
Interest paid	10.5	20.4	32	52	41.7	19	16.3	48.3	68.6	73.9
Income taxes paid	10.9	12.9	12.8	17.7	12.1	40	47.2	14.1	0	-0.05

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $61.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	21.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.5%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	57.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-37.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-16.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	72.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-38.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-18.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	14.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-6.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-7.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	87.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	4.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$608.0M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.60	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$4.64	Cash from operations / diluted weighted shares.
Book value per share	$40.31	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$25.44	Tangible book value / shares outstanding.
Cash per share	$37.53	(Cash + short-term investments) / shares outstanding.
Payout ratio	8.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.47B	Share price x shares outstanding.
Enterprise value	$571.5M	Market cap + total debt - cash - short-term investments.
P/E	38.0x	Market cap / net income. Only when net income is positive.
P/B	1.52x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.42x	Market cap / tangible book value, when positive.
P/OCF	13.1x	Market cap / cash from operations, when positive.
Earnings yield	2.6%	Net income / market cap (the inverse of P/E).
Dividend yield	0.2%	Dividends paid over the period / market cap.
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.

Was Triumph Financial, Inc. profitable in fiscal 2025?

Yes. Net income was $25.4M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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