Trinity Capital (NASDAQ:TRIN) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

26 Feb 2026, 20:32 by Kim Johansen · The Markets Daily

Trinity Capital (NASDAQ:TRIN – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01, Zacks reports. Trinity Capital had a return on equity of 15.51% and a net margin of 50.49%.The company had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $79.83 million.

Here are the key takeaways from Trinity Capital’s conference call:

Trinity delivered record 2025 results, including $144M net investment income ($2.08 per share), Q4 NII of $40M, NAV up 10% q/q to $1.1B, and platform AUM above $2.8B.
The company transitioned to monthly dividends ($0.17/month) while covering distributions (102% coverage) and holding ~$69M of undistributed taxable income to reinvest, supporting dividend consistency.
Originations and capital-raising momentum remain strong — $1.5B funded in 2025, $2.1B of commitments, Q4 fundings of $435M, a $1.2B unfunded pipeline (93% conditional), plus growing managed funds, co-invest vehicles and an SBIC expected to add > $260M of capacity.
Credit quality is resilient — non-accruals are under 1%, 85% of principal is first-lien secured and weighted average LTV is ~17% — although two legacy credits moved to non-accrual and are being actively worked.
Management is taking a selective approach to AI/software risk — enterprise SaaS is ~9% of the portfolio and the firm is prioritizing equipment/infrastructure financing (GPUs, data centers) rather than betting on single AI application winners.

Trinity Capital Stock Down 1.3%

Shares of Trinity Capital stock traded down $0.20 during mid-day trading on Thursday, reaching $15.21. 884,324 shares of the stock traded hands, compared to its average volume of 1,306,884. The stock has a market capitalization of $1.15 billion, a PE ratio of 6.94 and a beta of 0.53. The business has a 50-day moving average of $15.74 and a 200 day moving average of $15.48. Trinity Capital has a fifty-two week low of $12.50 and a fifty-two week high of $17.20.

Trinity Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%. Trinity Capital’s dividend payout ratio is presently 93.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRIN. Van ECK Associates Corp lifted its holdings in Trinity Capital by 2.2% in the 4th quarter. Van ECK Associates Corp now owns 1,785,503 shares of the company’s stock valued at $26,158,000 after purchasing an additional 39,286 shares in the last quarter. Marshall Wace LLP raised its position in shares of Trinity Capital by 4,587.0% in the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after buying an additional 1,126,709 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Trinity Capital by 22.4% in the fourth quarter. Invesco Ltd. now owns 1,026,680 shares of the company’s stock worth $15,041,000 after buying an additional 187,744 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Trinity Capital by 83.5% in the third quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock worth $15,266,000 after buying an additional 448,626 shares in the last quarter. Finally, UBS Group AG boosted its position in Trinity Capital by 36.5% during the third quarter. UBS Group AG now owns 806,897 shares of the company’s stock worth $12,491,000 after acquiring an additional 215,581 shares during the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup reaffirmed an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Loop Capital set a $17.00 price objective on shares of Trinity Capital in a report on Thursday, December 11th. Capital One Financial set a $17.00 price objective on shares of Trinity Capital in a research report on Thursday, December 11th. Clear Str upgraded Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Noble Financial started coverage on Trinity Capital in a report on Thursday, December 11th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.29.

Get Our Latest Stock Analysis on TRIN

Trending Headlines about Trinity Capital

Here are the key news stories impacting Trinity Capital this week:

Positive Sentiment: Q4 EPS beat and record investment income — Trinity reported $0.52 EPS vs. $0.51 consensus and record quarterly net investment income of $39.9M (record annual NII $144.1M), underscoring core earnings resilience. Press Release: Q4 & FY2025 Results
Positive Sentiment: Active new investment — Trinity committed $50M to Dwelly (UK proptech), showing ongoing originations and geographic/sector diversification that can drive future yield. PR: $50M to Dwelly
Neutral Sentiment: Unfunded commitments and dividend cadence change — Management outlined ~$1.2B of unfunded commitments and a transition to a monthly dividend; this signals a large deployment pipeline (growth potential) but also warrants monitoring of funding and payout sustainability. Seeking Alpha: $1.2B unfunded & dividend transition
Neutral Sentiment: Full conference call / transcript and slide deck available — Management commentary on portfolio growth, credit performance and capital deployment is detailed in the earnings call and slides; read these for clues on pace of realizations and funding plans. Earnings Call Transcript
Negative Sentiment: Revenue shortfall — Reported revenue (~$58.9M) missed analyst expectations (~$79.8M), which may raise concerns about deal pace, mark-to-market income, or exits in the quarter. Zacks: Q4 Earnings & Revenues
Negative Sentiment: Investor hedging and sector headwinds — Large put-option activity and commentary about BDC-sector pressures point to rising investor caution around valuation and credit/interest-rate sensitivity in the group. Article: Put Option Activity BDCs Face Sector Pressure

About Trinity Capital

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Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.