Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Trinity Capital 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
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
General and administrative
2.1
4.33
6.08
6.6
8.86
10.4
Operating expenses
31.6
42.9
71.5
89.4
119
147
Interest expense
20.4
34.1
44.3
61.9
80.6
Net income
-6.11
132
-30.4
76.9
116
136
EPS, basic
-0.34
5.09
-0.96
1.98
2.19
1.96
EPS, diluted
-0.34
4.64
-0.96
1.89
2.10
1.96
Shares, basic (weighted)
18.1
26
31.7
38.9
52.7
69.3
Shares, diluted (weighted)
18.1
29.3
35.2
42.7
56.7
69.3
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
44.7
31.7
10.6
4.76
9.63
19.1
Lease right-of-use assets
2.5
2.1
5.3
5.4
7.6
Total assets
937
1,126
1,311
1,774
2,485
Total liabilities
491
667
700
951
1,391
Total debt
310
466
620
646
888
1,306
Paid-in capital
369
481
634
830
1,100
Retained earnings
77.9
-20.9
-22.6
-6.71
-6.43
Shareholders' equity
447
460
611
823
1,094
Total equity
447
460
611
823
1,094
Total liabilities and equity
937
1,126
1,311
1,774
2,485
Shares outstanding
18.3
27.2
35
46.3
61.7
81.5
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-6.11
132
-30.4
76.9
116
136
Stock-based compensation
1.07
6.06
8.8
10.5
12
Change in payables
6.14
6.2
5.18
4.99
8.9
18
Cash from operations
-58.2
-242
-236
-96.3
-317
-535
Cash from investing
-92
-1.2
-0.19
-2.74
-0.42
-0.79
Debt issued
174
200
54.4
358
Debt repaid
-30
-218
Stock issued
125
105
113
150
200
290
Cash from financing
211
229
200
93.2
322
546
Net change in cash
61.1
-14.4
-36.1
-5.85
4.87
9.48
Interest paid
12.9
13.6
29.1
39.9
54.5
69.2
Income taxes paid
0.28
2.3
2.6
2.72
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 $25.05 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
11.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
5.0%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
17.3%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-6.7%
EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
32.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
33.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
40.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
30.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
22.1%
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
25.3%
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
30.8%
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
Debt / equity
1.20x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
54.0%
Total debt / total assets.
Liabilities / assets
54.8%
Total liabilities / total assets.
Net debt
$1.49B
Total debt - cash - short-term investments. Negative means more cash than debt.
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
-$6.55
Cash from operations / diluted weighted shares.
Book value per share
$13.47
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
12.5x
Market cap / net income. Only when net income is positive.
P/B
1.39x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.39x
Market cap / tangible book value, when positive.
Earnings yield
8.0%
Net income / market cap (the inverse of P/E).
Was Trinity Capital Inc. profitable in fiscal 2025?
Yes. Net income was $135.6M, 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.