TFIN

MKT CAP:$2B

Triumph Financial, Inc.

Market Cap

$2B

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$67.12+$3.75 (+5.92%)

Apr 21, 2026

Company Details

Triumph Financial Inc., a financial and technology company, focuses on payments, factoring, and banking. It operates through a portfolio of brands, including TriumphPay, Triumph, and TBK Bank. The company offers cash flow management service...

CEO

Aaron Graft

IPO Date

Nov 7, 2014

Website

www.tfin.com

Key Metrics TTM

Revenue

$501M

+2.2% YoY

Net Income

$32M

EPS (Diluted)

$1.19

Free Cash Flow

$57M

Revenue / Share

$20.83

Gross Margin

88.3%

Operating Margin

8.6%

Net Margin

6.3%

FCF Margin

11.5%

P/S

3.2x

P/E

50.1x

Earnings Reports

Q1 2026

Apr 21, 2026

NEW

$122M+2.5%EPS $0.23

FY 2025

Feb 11, 2026

$516M+5.8%EPS $0.93

Q4 2025

Feb 11, 2026

$140M+16.0%EPS $0.77

Q3 2025

Oct 15, 2025

$109M-12.8%EPS $0.04

Q2 2025

Jul 16, 2025

$129M+3.5%EPS $0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$154M	$147M	$58M
Q3 22	$116M	$108M	$22M
Q4 22	$118M	$112M	$25M
Q1 23	$112M	$102M	$13M
Q2 23	$117M	$100M	$10M
Q3 23	$121M	$104M	$18M
Q4 23	$122M	$100M	$13M
Q1 24	$117M	$95M	$5M
Q2 24	$124M	$101M	$4M
Q3 24	$125M	$102M	$6M
Q4 24	$121M	$99M	$6M
Q1 25	$119M	$100M	$70.0K
Q2 25	$129M	$109M	$8M
Q3 25	$109M	$105M	$1M
Q4 25	$140M	$122M	$24M
Q1 26	$122M	$106M	$10M

Valuation

Quarter	P/S	P/E
Q2 22	3.1x	13.1x
Q3 22	2.7x	12.2x
Q4 22	2.4x	11.6x
Q1 23	2.6x	14.8x
Q2 23	3.1x	27.0x
Q3 23	3.1x	29.7x
Q4 23	3.7x	42.5x
Q1 24	3.8x	52.6x
Q2 24	3.9x	63.7x
Q3 24	3.8x	84.7x
Q4 24	4.4x	131.9x
Q1 25	2.8x	114.1x
Q2 25	2.6x	95.4x
Q3 25	2.5x	120.3x
Q4 25	3.0x	59.5x
Q1 26	2.7x	42.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	-$37M	-$40M
Q3 22	$49M	$46M
Q4 22	$11M	$9M
Q1 23	$1M	-$17M
Q2 23	$8M	$5M
Q3 23	$9M	$7M
Q4 23	$25M	$21M
Q1 24	-$11M	-$72M
Q2 24	$11M	$10M
Q3 24	$21M	$20M
Q4 24	$37M	$7M
Q1 25	-$3M	-$8M
Q2 25	$9M	$7M
Q3 25	$24M	$22M
Q4 25	$36M	$25M
Q1 26	$5M	$3M

Capital Expenditures

Quarter	CapEx
Q2 22	$3M
Q3 22	$3M
Q4 22	$2M
Q1 23	$18M
Q2 23	$3M
Q3 23	$2M
Q4 23	$4M
Q1 24	$61M
Q2 24	$1M
Q3 24	$815.0K
Q4 24	$30M
Q1 25	$5M
Q2 25	$2M
Q3 25	$2M
Q4 25	$12M
Q1 26	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+42.3%	+31.3%
Q3 22	+6.5%	+23.1%
Q4 22	-3.0%	+5.0%
Q1 23	-2.5%	+20.3%
Q2 23	-24.3%	+11.1%
Q3 23	+4.3%	+9.5%
Q4 23	+3.2%	+17.5%
Q1 24	+4.7%	+13.1%
Q2 24	+6.1%	+12.6%
Q3 24	+3.7%	+15.3%
Q4 24	-0.9%	+5.3%
Q1 25	+2.1%	+6.4%
Q2 25	+3.5%	+0.1%
Q3 25	-12.8%	-9.3%
Q4 25	+16.0%	+1.2%
Q1 26	+2.5%	-6.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$8M	5.1%
Q3 22	$4M	3.7%
Q4 22	$4M	3.4%
Q1 23	$3M	2.6%
Q2 23	$3M	2.8%
Q3 23	$4M	3.1%
Q4 23	$3M	2.7%
Q1 24	$4M	3.1%
Q2 24	$3M	2.8%
Q3 24	$4M	3.2%
Q4 24	$3M	2.8%
Q1 25	$3M	2.4%
Q2 25	$3M	2.7%
Q3 25	$4M	3.6%
Q4 25	$4M	2.7%
Q1 26	$3M	2.8%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$55M	$2M
Q3 22	$50M	$2M
Q4 22	$21M	$3M
Q1 23	$55M	$1M
Q2 23	$55M	$2M
Q3 23	$52M	$2M
Q4 23	$51M	$2M
Q1 24	$55M	$1M
Q2 24	$57M	$2M
Q3 24	$56M	$1M
Q4 24	$55M	$2M
Q1 25	$59M	$1M
Q2 25	$60M	$2M
Q3 25	$62M	$21M
Q4 25	$57M	—
Q1 26	$65M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$724M	$216M	$940M
Q3 22	$422M	$238M	$660M
Q4 22	$408M	$255M	$663M
Q1 23	$418M	$317M	$735M
Q2 23	$417M	$304M	$721M
Q3 23	$338M	$292M	$630M
Q4 23	$287M	$300M	$586M
Q1 24	$417M	$320M	$737M
Q2 24	$501M	$340M	$840M
Q3 24	$489M	$403M	$892M
Q4 24	$330M	$87M	$417M
Q1 25	$503M	$105M	$608M
Q2 25	$282M	$102M	$384M
Q3 25	$147M	$98M	$245M
Q4 25	$248M	$364M	$613M
Q1 26	$64M	$340M	$404M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	24M	-3.7%	-3.1%
Q3 22	25M	+2.3%	-1.0%
Q4 22	25M	-0.4%	-2.0%
Q1 23	24M	-4.3%	-6.1%
Q2 23	23M	-1.5%	-4.0%
Q3 23	23M	+0.0%	-6.1%
Q4 23	23M	-1.2%	-6.9%
Q1 24	24M	+2.1%	-0.7%
Q2 24	24M	+0.1%	+0.9%
Q3 24	24M	+0.3%	+1.1%
Q4 24	24M	+0.2%	+2.6%
Q1 25	23M	-1.8%	-1.2%
Q2 25	24M	+1.8%	+0.5%
Q3 25	24M	+0.6%	+0.8%
Q4 25	24M	+0.2%	+0.8%
Q1 26	24M	+0.3%	+2.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$123.6K	1K
Q3 22	$92.7K	1K
Q4 22	$82.8K	1K
Q1 23	$78.2K	1K
Q2 23	$81.9K	1K
Q3 23	$84.6K	1K
Q4 23	$83.3K	1K
Q1 24	$79.7K	1K
Q2 24	$84.6K	1K
Q3 24	$85.4K	1K
Q4 24	$78.0K	2K
Q1 25	$76.9K	2K
Q2 25	$82.8K	2K
Q3 25	$70.4K	2K
Q4 25	$96.9K	1K
Q1 26	$84.5K	1K

Revenue / Employee