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| Date | Value |
|---|---|
| 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 |