Trinity Capital (TRIN) Operating Expenses (2021 - 2026)

Trinity Capital (TRIN) recorded quarterly Operating Expenses of $45.7 million in Q1 2026, up 12.31% quarter-over-quarter from $40.7 million in Q4 2025, and up 39.47% on a YoY basis from $32.8 million in Q1 2025.

Trinity Capital (TRIN) Operating Expenses (2021 - 2026) Analysis & Trends

Trinity Capital's Operating Expenses history runs 6 years deep, the most recent figure standing at $45.7 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 39.47% year-over-year to $45.7 million; the TTM figure through Mar 2026 stood at $159.0 million (up 24.29% YoY), while the FY2025 annual figure was $147.0 million, up 22.85% from the prior year.
  • Operating Expenses was $45.7 million for Q1 2026 at Trinity Capital, up from $40.7 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $45.7 million in Q1 2026 to a low of $15.6 million in Q1 2022.
  • Historically, Operating Expenses has averaged $27.8 million across 5 years, with a median of $24.7 million in 2024.
  • The sharpest annual moves came in 2022 and 2025: Operating Expenses jumped 81.89% in 2022, then grew 13.31% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $19.5 million in 2022, then climbed by 13.39% to $22.1 million in 2023, then jumped by 62.75% to $35.9 million in 2024, then advanced by 13.31% to $40.7 million in 2025, then gained by 12.31% to $45.7 million in 2026.
  • The last three Operating Expenses figures came in at $45.7 million (Q1 2026), $40.7 million (Q4 2025), and $37.9 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 160.20 Bn 150.57 Bn - 3.88 Bn
2 Blackstone 96.40 Bn 95.35 Bn - 2.26 Bn
3 Kkr 85.87 Bn 133.39 Bn - 3.87 Bn
4 Apollo Global Management 79.90 Bn 98.63 Bn 5.04 Bn 4.68 Bn
5 State Street 46.62 Bn 20.95 Bn - 2.81 Bn
6 Ameriprise Financial 42.78 Bn 42.65 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 32.35 Bn 32.35 Bn - 1.51 Bn
8 Ares Management 30.25 Bn 33.62 Bn - 1.17 Bn
9 Raymond James Financial 30.24 Bn 18.99 Bn - 3.12 Bn
10 Trinity Capital 1.41 Bn 1.39 Bn - 45.74 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 45.74 Mn
Dec 31, 2025 40.72 Mn
Sep 30, 2025 37.94 Mn
Jun 30, 2025 34.57 Mn
Mar 31, 2025 32.79 Mn
Dec 31, 2024 35.94 Mn
Sep 30, 2024 31.91 Mn
Jun 30, 2024 27.26 Mn
Mar 31, 2024 24.66 Mn
Dec 31, 2023 22.08 Mn
Sep 30, 2023 22.41 Mn
Jun 30, 2023 23.30 Mn
Mar 31, 2023 21.61 Mn
Dec 31, 2022 19.48 Mn
Sep 30, 2022 19.40 Mn
Jun 30, 2022 17.09 Mn
Mar 31, 2022 15.56 Mn
Dec 31, 2021 12.78 Mn
Sep 30, 2021 10.67 Mn