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Stock research / United States / TRUP · Hospital & Medical Service Plans · Nasdaq

Trupanion, Inc. (TRUP)

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Trupanion, Inc. (TRUP) reported revenue of $393 million for Q2 FY2026, the quarter ended 30 June 2026, up 11.1% on the same quarter a year earlier. Net income was $7 million, down 27.4% on the year, and diluted earnings per share $0.16. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$393 millionup 11.1%
Net income$7 milliondown 27.4%
Diluted EPS$0.16
QuarterQ2 FY2026ended 30 June 2026

Trupanion (TRUP) in brief

Trupanion (TRUP) reported revenue of $1.4 billion for fiscal 2025, the year ended 31 December 2025, up 11.9% on the year before.
Read moreNet income was $19 million and diluted earnings per share $0.45. Revenue was $1.3 billion in fiscal 2024, $1.1 billion in fiscal 2023, $905 million in fiscal 2022 and $699 million in fiscal 2021. Net income in the same years was a loss of $10 million, a loss of $45 million, a loss of $45 million and a loss of $36 million. Over the twelve months to 30 June 2026, Trupanion reported revenue of $1.5 billion and net income of $23 million. Revenue grew 23.4% a year, compounded, over the five years to fiscal 2025. Trupanion had 44 million shares outstanding at the latest filed count. At the close of 9 October 2026 the market cap of Trupanion was $1.1 billion, 49.2 times its earnings over the last twelve months.

Ratios

From the filings

ROE5.7%
ROCE4.8%
Operating margin1.6%
Net margin1.5%
FCF margin5.4%
Interest cover2.28
Debt to equity0.24
Cash conversion4.05
Share count, 1 year2.1%
Sales CAGR, 3 years16.7%
Profit CAGR, 3 yearsn/a
EPS, TTM$0.53

At the close of 9 October 2026

Price$26.08
Market cap$1.1 billion
Stock P/E49.21
Price to book2.79
EV / EBITDA27.56
Dividend yieldn/a
Market cap / sales0.75
52-week high$44.02
52-week low$21.46
Price, 1 year-38.3%
Price CAGR, 3 years-0.1%
Price CAGR, 5 years-21.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Trupanion, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
TRUPgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TRUP

Filings14 in twelve months: 7 current reports (8-K), about 4 results of operations; 2 officer or director change; 1 other events; 1 shareholder vote; 1 regulation FD disclosure
Planned insider sales24 Form 144 notices in twelve months, $2.9 million; latest 9 October 2026
Options tapeput/call 0.27 by open interest at the 9 October 2026 close; the straddle prices a 10.0% move to 16 October 2026
13F holders6 of the followed funds hold it; largest FMR LLC; 3 Schedule 13D or 13G filings in twelve months
Insider trading30 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest3.9 million shares short, 8.12 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue286296306315327337342354367377384393
Cost of revenue251256270275278284291299307312323328
Gross profit35.240.136.240.349.452.951.154.860.165.061.565.1
Gross margin12%14%12%13%15%16%15%16%16%17%16%17%
Operating income-3.50.4-6.1-5.51.70.3-1.52.35.97.14.86.4
Operating margin-1%0%-2%-2%1%0%-0%1%2%2%1%2%
Interest expense3.13.73.63.73.83.43.23.72.84.11.91.8
Pre-tax income-4.1-2.0-6.9-5.91.51.7-1.410.56.66.36.07.4
Tax raten/an/an/an/a3%2%n/a11%11%11%18%7%
Net income-4.0-2.2-6.9-5.91.41.7-1.59.45.95.64.96.8
Net margin-1%-1%-2%-2%0%0%-0%3%2%1%1%2%
Diluted EPS-$0.10-$0.05-$0.16-$0.14$0.03$0.04-$0.03$0.22$0.13$0.13$0.11$0.16
Operating cash flow11.417.52.46.915.323.716.015.029.229.314.621.0
Capital expenditure4.44.03.12.91.91.91.93.05.33.90.81.8
Free cash flow7.013.5-0.64.013.421.814.012.023.925.313.719.2
Buybacks0.0n/an/an/an/an/an/an/an/an/an/an/a
Shares outstanding42m42m42m42m42m42m43m43m43m43m44m44m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue1161471882433043845026999051,1091,2861,4391,521
Cost of revenuen/an/an/an/a2533194205957839781,1071,2081,269
Gross profit19.925.233.343.051.464.981.9104122131179231252
Gross margin17.1%17.2%17.7%17.7%16.9%16.9%16.3%14.9%13.5%11.8%13.9%16.1%16.6%
Research and development9.9n/an/an/an/an/an/an/an/an/an/an/an/a
Operating income-15.9-16.8-6.7-2.6-1.0-1.9-4.9-35.2-43.0-40.7-9.513.824.1
Operating margin-13.8%-11.4%-3.6%-1.1%-0.3%-0.5%-1.0%-5.0%-4.8%-3.7%-0.7%1.0%1.6%
Interest expense6.70.30.20.51.21.31.40.04.312.114.513.810.6
Pre-tax income-21.2-17.1-6.9-1.9-0.9-1.6-5.7-35.2-44.2-45.0-9.622.026.2
Income tax-0.00.10.0-0.4-0.00.20.10.30.5-0.3-0.02.63.0
Effective tax raten/an/an/an/an/an/an/an/an/an/an/a11.6%11.5%
Net income-21.2-17.2-6.9-1.5-0.9-1.8-5.8-35.5-44.7-44.7-9.619.423.2
Net margin-18.3%-11.7%-3.7%-0.6%-0.3%-0.5%-1.2%-5.1%-4.9%-4.0%-0.7%1.4%1.5%
Diluted EPS-$1.64-$0.62-$0.24-$0.05-$0.03-$0.05-$0.16-$0.89-$1.10-$1.08-$0.23$0.45$0.53
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Subscription business71385798968.7%
Other Operating Segment39642945031.3%
Subscription businessOther Operating Segment
1,109FY20231,286FY20241,439FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024Share
latest year
United States9351,07383.5%
Canada17321316.5%
United StatesCanada
1,109FY20231,286FY2024

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-10.8-10.45.09.712.716.221.57.5-8.018.648.389.594.1
Capital expenditure5.64.91.93.156.95.47.512.417.118.39.714.111.9
Free cash flow-16.4-15.33.16.5-44.310.814.1-4.9-25.10.438.675.482.2
Free cash flow margin-14.2%-10.4%1.6%2.7%-14.6%2.8%2.8%-0.7%-2.8%0.0%3.0%5.2%5.4%
Cash from investing-11.9-9.9-6.5-13.1-81.5-28.0-76.7-51.9-67.57.6-13.5-95.9-66.9
Cash from financing57.9-14.27.75.171.214.0171-1.160.759.1-4.0-22.9-11.8
Depreciation and amortisation1.72.53.84.24.55.67.112.010.912.516.515.815.5
Share-based compensation4.13.02.93.44.86.88.928.233.433.233.438.338.0
Buybacksn/an/an/an/an/an/an/a0.05.80.00.0n/an/a
Diluted shares, weightedn/an/an/an/an/an/a36m40m41m41m42m44m44m
Shares outstanding at period end28m28m29m30m34m35m39m40m41m42m42m43m44m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity59.345.444.748.4129137340332305304323384410
Redeemable equity0.0n/an/an/an/an/an/an/an/an/an/an/an/a
Short-term borrowings0.0n/an/an/an/an/an/an/an/an/an/an/an/a
Debt14.90.04.89.312.926.10.00.068.412812810296.9
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a0.413.4n/a
Other liabilities24.125.632.948.165.594.4158230298352356416424
Total liabilities and equity98.370.982.3106208257498563672783807915931
Owned
Fixed assets7.99.78.57.969.870.472.678.090.7104102105101
Goodwilln/an/an/an/an/a0.033.032.742.043.737.039.438.6
Intangible assets4.84.94.95.08.17.727.122.724.018.713.224.123.3
Investments23.327.732.140.858.174.195.4133165143147234250
Cash and equivalents53.118.023.625.726.629.214087.465.6148160138149
Other assets9.210.713.226.545.075.9130209285327347375368
Total assets98.370.982.3106208257498563672783807915931
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded25.6%23.4%16.7%11.8%
Profit growth, compoundedn/an/an/a110.8%
Return on equity, average-6.0%-7.6%-4.2%5.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Trupanion's revenue in fiscal 2025?

Trupanion (TRUP) reported revenue of $1.4 billion for fiscal 2025, the year ended 31 December 2025, up 11.9% on the year before.

How much did Trupanion earn in fiscal 2025?

Net income was $19 million for fiscal 2025, and diluted earnings per share $0.45.

What is Trupanion's P/E ratio?

At the close of 9 October 2026, Trupanion traded at 49.2 times its earnings over the twelve months to 30 June 2026.

What is Trupanion's market cap?

The market cap of Trupanion was $1.1 billion at the close of 9 October 2026.

Peers: Insurance

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
UnitedHealth Group Inc. UNH$343.3 billion24.4113.5%4.8%6.5%0.672.3%
Elevance Health, Inc. ELV$89.5 billion18.3511.1%2.7%6.3%0.691.7%
Cigna Group CI$74.6 billion11.6815.1%3.5%7.8%0.682.1%
Humana Inc. HUM$51.7 billion40.786.7%1.9%18.3%0.620.8%
Centene Corp. CNC$32.3 billionn/a-22.6%-2.8%13.9%0.71n/a
Molina Healthcare, Inc. MOH$10.2 billionn/a-0.2%0.5%2.6%0.90n/a
Alignment Healthcare, Inc. ALHC$1.6 billion39.7115.4%1.2%37.2%1.22n/a
Stewart Information Services Corp. STC$1.5 billion11.128.1%5.9%22.5%0.394.0%
Safety Insurance Group Inc. SAFT$1.5 billion22.387.8%6.8%7.2%0.063.5%
United Fire Group Inc. UFCS$1.4 billion10.2414.4%12.0%11.4%0.151.2%
Trupanion, Inc. TRUP$1.1 billion49.215.7%1.6%11.8%0.24n/a
Employers Holdings, Inc. EIG$887 million60.270.9%0.8%-5.8%0.152.5%
All 74 in Insurance
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Berkshire Hathaway Inc. BRK.B$1.11 trillion12.9611.5%15.0%3.9%n/an/a
UnitedHealth Group Inc. UNH$343.3 billion24.4113.5%4.8%6.5%0.672.3%
Chubb Ltd. CB$131.6 billion12.0714.8%23.1%8.0%0.231.1%
Progressive Corp. PGR$126.4 billion10.9134.1%16.2%10.5%0.246.4%
Elevance Health, Inc. ELV$89.5 billion18.3511.1%2.7%6.3%0.691.7%
Marsh & McLennan Companies, Inc. MRSH$84.0 billion21.4825.8%21.6%8.3%1.272.0%
Travelers Companies, Inc. TRV$76.9 billion9.8325.1%21.1%2.4%0.270.8%
Cigna Group CI$74.6 billion11.6815.1%3.5%7.8%0.682.1%
Manulife Financial Corporation MFC *$71.2 billion19.7011.1%n/an/a0.153.3%
Metlife Inc. MET$62.7 billion18.8013.2%8.3%8.7%0.522.3%
Arthur J. Gallagher & Co. AJG$59.6 billion38.586.6%12.6%26.3%0.571.1%
Allstate Corp. ALL$58.3 billion4.5839.4%23.2%5.9%0.221.7%
Aon plc AON$58.0 billion15.0740.8%26.5%4.9%1.351.1%
Aflac Inc. AFL$57.5 billion12.3516.0%32.0%13.6%0.282.1%
Humana Inc. HUM$51.7 billion40.786.7%1.9%18.3%0.620.8%
Sun Life Financial Inc. SLF *$42.6 billion17.8314.5%n/a8.0%0.333.5%
American International Group, Inc. AIG$40.4 billion14.097.3%13.6%-4.2%0.222.3%
Prudential Financial Inc. PRU$39.0 billion10.2512.4%7.6%9.4%0.624.8%
Hartford Insurance Group, Inc. HIG$35.0 billion8.3522.2%17.3%7.0%0.221.7%
Arch Capital Group Ltd. ACGL$32.6 billion7.4719.5%26.9%0.4%0.185.2%
Centene Corp. CNC$32.3 billionn/a-22.6%-2.8%13.9%0.71n/a
Willis Towers Watson plc WTW$27.5 billion18.2220.4%22.2%3.0%0.751.2%
Everest Group, Ltd. EG$27.4 billion7.7912.4%13.4%-5.1%0.032.2%
W. R. Berkley Corp. WRB$26.7 billion14.7619.6%n/a4.3%n/a2.6%
Cincinnati Financial Corp. CINF$25.1 billion7.7120.0%29.8%19.6%0.052.1%
Principal Financial Group Inc. PFG$23.0 billion15.2712.8%11.9%3.7%0.362.9%
Loews Corp. L$21.8 billion13.098.8%12.3%3.5%0.470.2%
Brown & Brown, Inc. BRO$20.8 billion19.849.6%n/a34.2%0.621.0%
Reinsurance Group of America Inc. RGA$16.7 billion11.2411.0%7.2%19.4%0.421.4%
Corebridge Financial, Inc. CRBG$15.2 billion19.948.5%5.4%29.1%0.832.9%
Globe Life Inc. GL$15.1 billion10.9119.7%24.2%5.2%0.480.7%
Unum Group UNM$14.5 billion21.376.5%6.8%3.4%0.351.9%
Equitable Holdings, Inc. EQH$14.4 billionn/an/a-5.7%-22.1%n/a2.0%
Renaissancere Holdings Ltd. RNR$13.9 billion5.6522.3%39.6%-14.0%0.200.5%
Assurant, Inc. AIZ$13.2 billion12.7317.4%9.9%9.4%0.351.2%
American Financial Group Inc. AFG$11.7 billion12.3319.8%14.5%-0.2%0.385.2%
Erie Indemnity Co. ERIE$11.6 billion20.1123.4%17.9%3.7%0.00n/a
Fidelity National Financial, Inc. FNF$10.4 billion13.5110.4%11.3%13.0%0.595.2%
Molina Healthcare, Inc. MOH$10.2 billionn/a-0.2%0.5%2.6%0.90n/a
OLD Republic International Corp. ORI$9.2 billion8.3718.7%14.8%12.1%n/a9.6%
Jackson Financial Inc. JXN$8.8 billion158.051.0%55.8%15.1%0.282.6%
Voya Financial, Inc. VOYA$8.6 billion15.9713.0%9.1%3.2%0.451.9%
Primerica, Inc. PRI$8.5 billion11.0631.5%29.9%8.6%0.241.5%
Lincoln National Corp. LNC$7.7 billion3.4920.8%14.7%7.9%0.574.5%
Kinsale Capital Group, Inc. KNSL$7.7 billion13.6527.9%35.7%15.8%0.110.2%
Hanover Insurance Group, Inc. THG$7.6 billion10.4720.6%15.4%5.6%0.23n/a
Enact Holdings, Inc. ACT$6.4 billion9.6812.7%69.1%2.5%0.141.9%
First American Financial Corp. FAF$6.2 billion8.4713.3%12.3%22.6%n/a3.6%
Mercury General Corp. MCY$5.7 billion6.0733.0%18.3%10.0%0.331.2%
Mgic Investment Corp. MTG$5.7 billion8.5714.1%74.0%-1.9%0.132.2%
Essent Group Ltd. ESNT$5.6 billion8.7212.0%62.0%4.3%0.082.1%
RLI Corp. RLI$5.1 billion11.7025.0%28.0%8.7%0.174.7%
Selective Insurance Group Inc. SIGI$5.0 billion10.4513.6%11.5%7.0%0.251.9%
CNO Financial Group, Inc. CNO$4.9 billion18.2110.8%13.3%6.0%0.521.3%
Radian Group Inc. RDN$4.5 billion8.7211.2%n/a37.1%0.143.0%
Corvel Corp. CRVL$3.9 billion34.3028.2%n/a7.1%n/an/a
Genworth Financial Inc. GNW$3.6 billion18.062.4%5.4%2.1%0.17n/a
Palomar Holdings, Inc. PLMR$3.4 billion17.5920.7%24.1%60.0%0.30n/a
Assured Guaranty Ltd. AGO$3.1 billion9.336.3%37.0%-10.6%0.311.9%
NMI Holdings, Inc. NMIH$3.0 billion7.8814.6%69.3%7.5%0.25n/a
SiriusPoint Ltd. SPNT$2.9 billion6.0922.2%18.4%22.6%0.30n/a
Brighthouse Financial, Inc. BHF$2.8 billion3.9012.7%14.7%2.6%0.48n/a
F&G Annuities & Life, Inc. FG$2.5 billion6.589.1%n/a15.0%0.495.0%
HCI Group, Inc. HCI$2.4 billion8.2528.7%48.4%22.8%0.030.8%
Horace Mann Educators Corp. HMN$1.8 billion10.6411.8%12.4%5.9%0.403.1%
Kemper Corp. KMPR$1.6 billionn/a-22.6%n/a-4.5%0.434.7%
Alignment Healthcare, Inc. ALHC$1.6 billion39.7115.4%1.2%37.2%1.22n/a
Stewart Information Services Corp. STC$1.5 billion11.128.1%5.9%22.5%0.394.0%
Safety Insurance Group Inc. SAFT$1.5 billion22.387.8%6.8%7.2%0.063.5%
United Fire Group Inc. UFCS$1.4 billion10.2414.4%12.0%11.4%0.151.2%
Trupanion, Inc. TRUP$1.1 billion49.215.7%1.6%11.8%0.24n/a
Employers Holdings, Inc. EIG$887 million60.270.9%0.8%-5.8%0.152.5%
Amerisafe Inc. AMSF$453 million9.8518.8%17.5%9.5%n/a6.4%
Ryan Specialty Holdings, Inc. RYANn/an/a19.4%14.8%14.4%7.13n/a
7 companies share its SEC industry code (Hospital & Medical Service Plans); the rest are the names nearest in size in its wider industry, Insurance, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202427 February 2025EDGAR
10-Q30 September 20241 November 2024EDGAR
10-Q30 June 20249 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install