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
DateValue
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