Trupanion, Inc. (TRUP) Key Metrics
TRUP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.23B
- Enterprise value
- $710.9M
- P/E (TTM)
- 53.1
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 0.8 10-yr median 2.5
- Price / book
- 2.4 10-yr median 7.9
- EV / EBITDA
- 13.6 10-yr median 156.1
- Dividend yield
- —
- Beta
- 1.44
TRUP key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTRUP valuation Price multiples at each fiscal year-end price.
TRUP returns How much profit the business earns on the capital it uses.
TRUP per-share figures Results divided by the shares outstanding at year-end.
TRUP financial health Debt, liquidity and how easily interest is covered.
TRUP efficiency & capital use Working capital cycle and where the cash goes.
TRUP valuation history
TRUP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TRUP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TRUP cash returned to shareholders
TRUP price vs earnings per share
TRUP key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.63B | $2.03B | $1.26B | $1.94B | $5.30B | $4.29B | $1.30B | $813.7M | $866.1M | $442.7M |
| Enterprise value | $1.37B | $1.85B | $1.12B | $1.78B | $5.09B | $4.06B | $1.23B | $745.5M | $812.1M | $394.3M |
| P/E ratio | 83.8 | — | — | — | — | — | — | — | — | — |
| Price / sales | 1.1 | 1.6 | 1.1 | 2.1 | 7.6 | 8.6 | 3.4 | 2.7 | 3.6 | 2.4 |
| Price / book | 4.2 | 6.3 | 4.2 | 6.3 | 16.0 | 12.6 | 9.5 | 6.3 | 17.9 | 9.9 |
| Price / free cash flow | 21.6 | 52.7 | — | — | — | 304.6 | 120.3 | — | 132.5 | 144.5 |
| Price / operating cash flow | 18.2 | 42.1 | 67.8 | — | 710.6 | 199.3 | 80.3 | 64.2 | 89.6 | 88.4 |
| EV / sales | 1.0 | 1.4 | 1.0 | 2.0 | 7.3 | 8.1 | 3.2 | 2.5 | 3.3 | 2.1 |
| EV / EBITDA | 26.5 | 86.9 | — | — | — | — | 229.4 | 156.1 | 286.5 | — |
| EV / free cash flow | 18.2 | 48.1 | — | — | — | 288.3 | 113.6 | — | 124.3 | 128.6 |
| Earnings yield | 1.2% | −0.5% | −3.5% | −2.3% | −0.7% | −0.1% | −0.1% | −0.1% | −0.2% | −1.6% |
| Free cash flow yield | 4.6% | 1.9% | 0.0% | −1.3% | −0.1% | 0.3% | 0.8% | −5.8% | 0.8% | 0.7% |
| Dividend yield | — | — | 1.2% | 0.4% | — | 0.3% | 1.2% | 2.1% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.2% | 0.1% | 1.3% | 0.9% | 0.1% | 0.3% | 1.4% | 2.3% | 0.1% | 0.1% |
| Share price at fiscal year-end | $37.37 | $48.20 | $30.51 | $47.53 | $132.03 | $119.71 | $37.46 | $25.46 | $29.27 | $15.52 |
| Per share | ||||||||||
| Revenue per share | $33.05 | $30.50 | $26.75 | $22.20 | $17.41 | $14.00 | $11.08 | $9.51 | $8.20 | $6.60 |
| Earnings per share | $0.45 | −$0.23 | −$1.08 | −$1.10 | −$0.89 | −$0.16 | −$0.05 | −$0.03 | −$0.05 | −$0.24 |
| Operating cash flow per share | $2.05 | $1.15 | $0.45 | −$0.20 | $0.19 | $0.60 | $0.47 | $0.40 | $0.33 | $0.18 |
| Free cash flow per share | $1.73 | $0.91 | $0.01 | −$0.62 | −$0.12 | $0.39 | $0.31 | −$1.48 | $0.22 | $0.11 |
| Cash per share | $8.51 | $7.29 | $6.69 | $5.46 | $5.32 | $6.41 | $2.85 | $2.54 | $2.14 | $1.87 |
| Book value per share | $8.81 | $7.67 | $7.33 | $7.49 | $8.28 | $9.48 | $3.95 | $4.04 | $1.64 | $1.57 |
| Tangible book value per share | $7.36 | $6.48 | $5.82 | $5.87 | $6.90 | $7.80 | $3.72 | $3.79 | $1.47 | $1.40 |
| Dividends per share | — | — | $0.36 | $0.17 | — | $0.34 | $0.47 | $0.53 | $0.00 | $0.00 |
| Capex per share | $0.32 | $0.23 | $0.44 | $0.42 | $0.31 | $0.21 | $0.16 | $1.87 | $0.11 | $0.07 |
| Debt per share | $2.57 | $3.06 | $3.11 | $1.70 | — | — | $0.75 | $0.40 | $0.32 | $0.17 |
| Shares outstanding | 43.6M | 42.2M | 41.4M | 40.8M | 40.1M | 35.9M | 34.6M | 32.0M | 29.6M | 28.5M |
| Change in shares outstanding | +3.3% | +1.7% | +1.6% | +1.6% | +11.9% | +3.5% | +8.4% | +8.0% | +3.7% | +3.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 5.5% | −3.1% | −14.7% | −14.0% | −10.6% | −2.5% | −1.4% | −1.0% | −3.2% | −15.3% |
| Return on invested capital (ROIC) | 14.4% | −5.0% | −20.9% | −25.1% | −24.3% | −4.5% | −2.4% | −3.0% | — | — |
| Return on assets (ROA) | 2.3% | −1.2% | −6.1% | −7.2% | −6.7% | −1.5% | −0.8% | −0.6% | −1.6% | −9.0% |
| Return on tangible assets | 2.3% | −1.3% | −6.2% | −7.4% | −7.0% | −1.3% | −0.7% | −0.5% | −1.5% | −8.9% |
| Free cash flow margin | 5.2% | 3.0% | 0.0% | −2.8% | −0.7% | 2.8% | 2.8% | −15.5% | 2.7% | 1.6% |
| Income quality (OCF / net income) | 4.60 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $111.8M | $128.9M | $128.9M | $69.5M | — | — | $26.1M | $12.9M | $9.3M | $4.8M |
| Cash & short-term investments | $370.7M | $307.4M | $277.2M | $222.4M | $213.4M | $229.7M | $98.9M | $81.1M | $63.3M | $53.2M |
| Net debt | −$258.9M | −$178.5M | −$148.2M | −$153.0M | −$213.4M | −$229.7M | −$72.8M | −$68.2M | −$54.0M | −$48.4M |
| Debt / equity | 0.29 | 0.40 | 0.42 | 0.23 | — | — | 0.19 | 0.10 | 0.19 | 0.11 |
| Debt / assets | 0.12 | 0.16 | 0.16 | 0.10 | — | — | 0.10 | 0.06 | 0.09 | 0.06 |
| Net debt / EBITDA | −5.02 | −8.37 | — | — | — | −84.31 | −13.63 | −14.29 | −19.04 | — |
| Current ratio | 1.07 | 1.71 | 1.63 | 1.62 | 1.75 | 2.24 | 1.73 | 1.87 | 1.89 | 2.13 |
| Quick ratio | 1.07 | 1.71 | 3.21 | 1.62 | 1.75 | 2.24 | 1.73 | 1.87 | 1.89 | 2.13 |
| Interest coverage | 1.6 | -0.7 | -3.4 | -10.1 | — | -3.6 | -1.4 | -0.9 | -5.0 | -30.7 |
| Working capital | $30.2M | $247.7M | $217.6M | $179.5M | $167.3M | $186.6M | $67.2M | $54.8M | $40.7M | $34.7M |
| Invested capital | $125.0M | $144.8M | $155.5M | $152.3M | $118.8M | $110.2M | $63.9M | $60.9M | −$5.5M | −$3.7M |
| Tangible asset value | $320.5M | $273.1M | $241.3M | $239.3M | $276.8M | $279.8M | $129.0M | $121.1M | $43.5M | $39.8M |
| Net current asset value | −$91.1M | $113.7M | $82.9M | $102.8M | $160.6M | $178.7M | $38.4M | $39.6M | $29.1M | $27.8M |
| Graham number | $9.41 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | $1.52 | $0.70 | −$6.60 | $0.75 | $2.66 | $4.06 | $0.56 | $0.83 | $0.71 | $0.81 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $14.8M | $6.9M | — | $12.2M | $16.1M | $17.0M | $0 | $0 |
| Share buybacks (net) | $3.7M | $2.5M | $1.5M | $10.1M | $4.7M | $1.1M | $1.7M | $1.8M | $1.2M | $662,000 |
| Dividends + buybacks / free cash flow | 4.9% | 6.5% | — | — | — | 94.7% | 165.2% | — | 17.9% | 21.6% |
| Capex / revenue | 1.0% | 0.8% | 1.6% | 1.9% | 1.8% | 1.5% | 1.4% | 19.7% | 1.3% | 1.0% |
| Capex / operating cash flow | 15.8% | 20.1% | 98.1% | — | 165.7% | 34.6% | 33.3% | 472.4% | 32.4% | 38.8% |
| Capex / depreciation | 0.89 | 0.59 | 1.47 | 1.56 | 1.03 | 1.05 | 0.95 | 13.27 | 0.74 | 0.50 |
| Stock-based compensation / revenue | 2.7% | 2.6% | 3.0% | 3.7% | 4.0% | 1.8% | 1.8% | 1.6% | 1.4% | 1.6% |
| R&D / revenue | 2.6% | 2.4% | 1.9% | 2.8% | 2.4% | 2.0% | 1.8% | 1.9% | 4.0% | 5.1% |
| SG&A / revenue | 11.3% | 5.0% | 7.8% | 14.2% | 15.8% | 13.9% | 14.0% | 13.9% | 14.8% | 16.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 73.0 | 76.9 | 82.4 | 80.2 | 69.0 | 55.8 | 40.9 | 31.2 | 22.9 | 17.8 |
| Days of inventory on hand | — | — | -203.5 | — | — | — | — | — | — | — |
| Days payables outstanding | 5.0 | 3.6 | 3.7 | 4.3 | 4.6 | 4.4 | 3.9 | 4.0 | 4.3 | 3.9 |
| Cash conversion cycle (days) | 68.1 | 73.3 | -124.9 | 75.9 | 64.4 | 51.4 | 36.9 | 27.2 | 18.6 | 13.9 |
| Receivables turnover | 5.00 | 4.74 | 4.43 | 4.55 | 5.29 | 6.54 | 8.93 | 11.71 | 15.92 | 20.56 |
| Payables turnover | 73.56 | 100.46 | 97.88 | 85.00 | 79.23 | 82.82 | 93.09 | 92.14 | 84.55 | 94.05 |
| Asset turnover | 1.67 | 1.62 | 1.52 | 1.47 | 1.32 | 1.33 | 1.65 | 1.94 | 2.58 | 2.46 |
| Average receivables | $288.0M | $271.0M | $250.2M | $198.8M | $132.1M | $76.7M | $43.0M | $26.0M | $15.2M | $9.2M |
| Average payables | $14.0M | $11.0M | $10.0M | $9.2M | $7.5M | $5.1M | $3.4M | $2.7M | $2.4M | $1.6M |
| Average inventory | — | — | −$545.1M | — | — | — | — | — | $0 | $0 |
| Intangibles / total assets | 6.9% | 6.2% | 8.0% | 9.8% | 9.8% | 12.1% | 3.0% | 3.9% | 4.7% | 6.0% |
Computed from TRUP's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TRUP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Trupanion traded at 83.8 times earnings. Based on the latest twelve months, the trailing P/E is 53.1. Trupanion earned a return on equity of 5.5% and a return on invested capital of 14.4% in fiscal 2025. It ended the year with $111.8 million of debt and $370.7 million in cash and short-term investments, a net cash position of $258.9 million. It returned $3.7 million to shareholders: $0 in dividends and $3.7 million in share buybacks, 5% of free cash flow. The share count rose 52.7% from 28.5M to 43.6M over 9 years.
See the TRUP income statement, the TRUP chart for price history, or the TRUP stock overview for the latest quote and news.
TRUP key metrics FAQ
What is Trupanion's P/E ratio?
Trupanion's trailing P/E ratio is 53.1 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 83.8.
What is Trupanion's EV/EBITDA?
Trupanion's enterprise value was 26.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.4 billion, EBITDA $51.6 million); the current EV/EBITDA is 13.6.
What is Trupanion's return on equity?
Trupanion's return on equity (ROE) was 5.5% in fiscal 2025: net income of $19.4 million on average shareholders' equity of $353.6 million.
What is Trupanion's ROIC?
Trupanion's return on invested capital was 14.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Trupanion have?
Trupanion had total debt of $111.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.29 and more cash than debt.
Does Trupanion buy back its shares?
Yes. Trupanion spent $3.7 million on net share repurchases in fiscal 2025 Shares outstanding changed +3.3% over the year, to 43.6M..
What is Trupanion's free cash flow yield?
Trupanion generated $75.4 million of free cash flow in fiscal 2025, a free cash flow yield of 4.6% on its market value at year-end ($1.6 billion).
What is Trupanion's current ratio?
Trupanion's current ratio was 1.07 at the end of fiscal 2025: current assets were 1.07 times current liabilities.