Trinity Capital (TRIN) Q4 2025 Earnings Transcript
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 25, 2026
AI-Generated Deep Dive Summary
Trinity Capital (TRIN) delivered a standout performance in Q4 2025 with record net investment income of $40 million, marking a 15% year-over-year increase. The company also achieved impressive growth across its platform assets under management, reaching $2.8 billion and displaying strong scalability. Notably, nonaccruals remained minimal at less than 1%, underscoring the robust credit quality of its portfolio. Trinity strategically shifted to a monthly dividend structure while maintaining consistent total quarterly payouts, signaling a balanced approach to distribution.
Key financial metrics highlighted Trinity's strength, including a net asset value (NAV) of $1.1 billion—a 10% quarter-over-quarter rise and a significant 33% year-on-year increase. The company maintained stellar credit performance with over 99% of debt investments performing at fair value and an average internal credit rating of 2.9 on a five-point scale. This was supported by a diversified portfolio spread across 22 industries, with notable concentrations in sponsor finance (27%), equipment finance (25%), life sciences (20%), tech lending (15%), and asset-based lending (13%).
Trinity demonstrated strategic growth through its capital-raising efforts, securing $95 million via an equity ATM at a premium to NAV and $28 million in debt ATM at a slight premium to par. The company also entered into a new secured term loan with favorable terms, enhancing its funding flexibility. Despite rising interest rates, Trinity's majority floating-rate loans with floors minimized the impact on earnings, potentially offset by prepayment fees and reduced expense.
The company's portfolio companies raised over $7.8
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Originally published on The Motley Fool on 2/25/2026