Trupanion (TRUP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Trupanion

NasdaqGM•Financial Services•Insurance - Property & Casualty

$26.12-1.68(-0.06%)Pre-market

Market Cap

$1.12B

P/E

48.3x

P/S

0.7x

P/B

2.7x

Trupanion, Inc., together with its subsidiaries, provides medical insurance for cats and dogs on subscription basis in the United States, Canada, and Continental Europe. The company operates in two segments, Subscription Business and Other Business. It serves pet owners and veterinarians. The company was formerly known as Vetinsurance International, Inc. and changed its name to Trupanion, Inc. in 2013. Trupanion, Inc. was founded in 2000 and is headquartered in Seattle, Washington.

How this company scores

ExcellentMetricSide Score: 80/100

Strongest: Cash & Earnings Quality (25/25); weakest: Profitability (12/25).

Profitability12/25

Growth21/25

Balance Sheet & Red Flags22/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowRising earningsLow leverageCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 48.3x5y range 43.5x – 215.5x

Currently below its 5-quarter median.

P/S · 0.7x5y range 0.7x – 7.6x

Currently below its 20-quarter median.

P/B · 2.7x5y range 2.7x – 15.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Share Dilution

Watch

Shares outstanding rose 3.5% — mild dilution. Compare to earnings growth to assess the net per-share impact.

Price & Volume

Market Cap $1.12B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.52B
Q. Revenue: $392.93M
TTM EBITDA: $39.61M
TTM Op. Income: $24.15M
Q. Op. Income: $6.38M
TTM Net Income: $23.21M
Q. Net Income: $6.83M
EPS: $0.16
Shares Out.: $43.73M

$1.52B in TTM revenue grew 11.8% YoY, reaching $392.93M last quarter. TTM EBITDA of $39.61M and TTM operating income of $24.15M show growth is flowing through to the bottom line. TTM net income of $23.21M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 16.6%
EBITDA Margin: 2.6%
Op. Margin: 1.6%
Net Margin: 1.7%

Op. margin of 1.6% is up 1.0% YoY — cost efficiency is improving. Net margin at 1.7% and gross margin of 16.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 148% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 48.3x
P/S Ratio: 0.7x
P/B Ratio: 2.7x

At 48.3x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 0.7x and P/B of 2.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 78% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $930.81M
Cash: $149.36M
Long-Term Debt: $96.91M
Book Value: $409.67M
D/E Ratio: 0.2
Debt/EBITDA: 9.6

With $930.81M in assets and $96.91M in long-term debt, D/E is 0.2and book value is $409.67M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $20.98M
TTM Free Cash Flow: $82.18M
FCF Margin: 5.4%
FCF / Net Income: 3.5

TTM FCF of $82.18M on $20.98M in operating cash flow. The FCF / Net Income ratio of 3.5x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 34% — an improving trend.