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Trupanion, Inc.

TRUPFinancial ServicesNASDAQ

Insurance - Property & Casualty · Last scanned Jun 3, 2026

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Financials · Annual
Revenue
$1.44B
+11.9% YoY
Net Income
$19.4M
+301.7% YoY
EBITDA
$51.6M
+141.9% YoY
Free Cash Flow
-$13.6M

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About Trupanion, Inc.

Trupanion, Inc., together with its subsidiaries, provides medical insurance for cats and dogs on subscription basis in the United States, Canada, Continental Europe, and Australia. The company carries a $965.3M market cap, placing it firmly in the small-cap category. The company operates in two segments, Subscription Business and Other Business.

Key stats
Market Cap$965.3M
P/E (TTM)37.51
Fwd P/E5.13
EPS$0.59
Beta1.49
52W Change-54.0%
ROE7.1%
Analysis

The balance sheet looks solid with $383.7M in cash comfortably exceeding the $109.3M debt load. A net cash position generally provides financial flexibility during uncertain economic periods. Free cash flow is running at -$13.6M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of 7.1% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 1.5% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $905.2M (2022) to $1.44B (2025), reflecting a 59% increase over the period.

With cash comfortably exceeding debt, TRUP has financial flexibility that may help navigate uncertain periods. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. No single metric tells the full story. Reviewing TRUP's risk profile alongside its fundamentals and technical indicators provides a more complete picture.

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