Trinity Capital (TRIN) Operating Expenses (2021 - 2026)
Trinity Capital's (TRIN) quarterly Operating Expenses came in at $44.6 million in Q1 2026, up 36.02% year-on-year from $32.8 million in Q1 2025, and down 2.02% on a QoQ basis from $45.5 million in Q4 2025.
Trinity Capital (TRIN) Operating Expenses (2021 - 2026) Analysis & Trends
Trinity Capital (TRIN) has 6 years of Operating Expenses data on file, last reported at $44.6 million in Q1 2026.
- On a quarterly basis, Operating Expenses rose 36.02% year-over-year to $44.6 million in Q1 2026; TTM through Mar 2026 was $162.6 million, a 27.75% increase from a year earlier, with the FY2025 full-year figure at $149.9 million, up 25.8% from the prior year.
- Operating Expenses for Q1 2026 stood at $44.6 million, down from $45.5 million in the prior quarter.
- Over the last five years, Operating Expenses for TRIN reached as high as $45.5 million in Q4 2025 and fell as low as $15.6 million in Q1 2022.
- Historically, Operating Expenses has averaged $28.0 million across 5 years, with a median of $24.7 million in 2024.
- Across the five-year window, Operating Expenses jumped 81.89% in 2022 and increased 13.39% in 2023, its largest moves.
- Year by year, Operating Expenses stood at $19.5 million in 2022, then grew by 13.39% to $22.1 million in 2023, then soared by 60.04% to $35.3 million in 2024, then rose by 28.82% to $45.5 million in 2025, then dropped by 2.02% to $44.6 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $44.6 million in Q1 2026, $45.5 million in Q4 2025, and $37.9 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | -14.14 Bn |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | 3.88 Bn |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 2.26 Bn |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 4.68 Bn |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 3.12 Bn |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 1.18 Bn |
| 10 | Trinity Capital | 1.46 Bn | 1.44 Bn | - | 44.61 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 44.61 Mn |
| Dec 31, 2025 | 45.53 Mn |
| Sep 30, 2025 | 37.94 Mn |
| Jun 30, 2025 | 34.57 Mn |
| Mar 31, 2025 | 32.79 Mn |
| Dec 31, 2024 | 35.34 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 |