At a glance
Triumph Financial Inc is worth $1.51B, about 68 times its fiscal 2025 earnings. Revenue grew 5.6% to $439.0M in fiscal 2025, with 5.8% kept as profit; over 5 years it has grown 4.9% a year. It pays a dividend, and returned $181.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +7.2% over the past year with dividends reinvested, against +11.5% for the S&P 500.
The business in plain English
Triumph Financial, formerly Triumph Bancorp, is a Dallas-based company that owns TBK Bank and focuses mainly on US for-hire trucking. Its customers include carriers (small and mid-sized trucking fleets), brokers that arrange freight, shippers that hire trucks, and factors that advance cash against carriers' invoices. As of December 31, 2025, it had $6.381 billion in assets and $4.950 billion in deposits.
It reports four segments. Banking made up 57% of segment revenue (interest plus fee income) in 2025. It runs branches mainly in Colorado and the Quad Cities area of Iowa and Illinois, plus Dallas. It also makes equipment loans and mortgage warehouse loans (short-term credit to mortgage lenders) nationwide. Its deposits give the company low-cost funding. Factoring (31%) buys trucking fleets' unpaid invoices at a discount so the fleets get cash right away. It earns much higher yields than ordinary loans.
Payments (11%) grew larger with the 2021 purchase of HubTran. It runs a network where brokers and shippers receive, audit and pay carrier invoices, and it earns mostly fees. It also offers LoadPay, a digital bank account for truckers. Intelligence (1%) launched in late 2024 and sells freight pricing and carrier performance data, helped by the Isometric Technologies and Greenscreens AI acquisitions. Most revenue comes from lending: net interest income (interest earned minus interest paid) was $350.6 million of $439 million in 2025.
Price history
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TFIN +7.2% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $125.7M, up 15% from a year earlier, and net income was $13.4M (+686.2%).
- For fiscal 2025, revenue was $439.0M (+5.6% year over year; +4.9% a year from FY2020 to FY2025) with a 5.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.9% watch |
|---|---|
| Return on equity | 2.7% weak |
| Net income / revenue | 5.8% weak |
| Deposits | $6.47B |
| Loans | $5.65B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $345.1M | $64.0M | — |
| FY2021 | $423.6M | $113.0M | — |
| FY2022 | $484.6M | $102.3M | — |
| FY2023 | $418.3M | $41.1M | — |
| FY2024 | $415.9M | $16.1M | — |
| FY2025 | $439.0M | $25.4M | — |
Valuation snapshot
| Market value | $1.51B |
|---|---|
| P/E ratio | 67.7 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Triumph Financial’s market value went from $1.20B at the end of 2022 to $1.51B on Oct 28, 2026, up 26%; since the end of 2025 it is up 1%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.51B | +1.2% |
| 2025 | $1.49B | -30.0% |
| 2024 | $2.13B | +13.8% |
| 2023 | $1.87B | +56.1% |
| 2022 | $1.20B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TFIN price data to Oct 28, 2026 | +0.5% | +7.2% | +1.8% | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +0.5% |
| 2025 | -31.1% |
| 2024 | +13.3% |
| 2023 | +64.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (23 read): 2 open-market purchases ($969K) and 5 sales ($925K), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 27, 2026 | Aaron P Graft President & CEO, Director | buy | $500K |
| May 8, 2026 | Todd Ritterbusch President - TBK Bank, SSB | buy | $469K |
| Aug 4, 2026 | Adam D Nelson EVP and General Counsel | sell | $296K |
| Aug 20, 2026 | Edward Joseph Schreyer EVP, Chief Operating Officer | sell (plan) | $214K |
| Dec 18, 2025 | Adam D Nelson EVP and General Counsel | sell (plan) | $196K |
Who owns it
Large shareholders (13G filings)
| THRIVENT FINANCIAL FOR LUTHERANS | 6.5% | Mar 31, 2025 |
| AltraVue Capital, LLC | 6.4% | Dec 31, 2025 |
| STATE STREET CORPORATION | 6.1% | Mar 31, 2026 |
| Kayne Anderson Rudnick Investment Management, LLC | 6% | Jun 30, 2026 |
| Vanguard Capital Management | 5.01% | Jun 30, 2026 |
ETFs with the most weight in TFIN
| SOVF Sovereign's Capital Flourish Fund | 1.32% |
| KBE SPDR S&P Bank ETF | 0.7% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.37% |
| KRE SPDR S&P Regional Banking ETF | 0.35% |
| TXSS Texas Capital Texas Small Cap Equity Index ETF | 0.22% |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 0.14% |
| AVSC Avantis U.S Small Cap Equity ETF | 0.13% |
| CSA VictoryShares US Small Cap Volatility Wtd ETF | 0.13% |
What could go wrong
- Heavy dependence on the trucking industry. Most of Triumph's business serves for-hire trucking. A freight slump, new rules that hit small carriers hardest, or failures among small trucking firms could hurt factoring, payments and equipment lending at once.
- Fraud risk in invoice factoring. Factoring means buying trucking firms' unpaid invoices. If an invoice is fake or has already been sold to another lender, Triumph can lose money. The company says factoring carries a higher risk of fraud.
- Clients with thin finances. Many factoring and commercial finance clients don't have the operating history, cash flow or balance sheet to borrow elsewhere. Small businesses like these have fewer resources to survive a downturn, so loan losses could rise.
- Growth rides on newer Payments and Intelligence units. These segments produced 11% and 1% of segment revenue in 2025, yet the company says its growth depends heavily on them. It has little history with their pricing and needs more customers to adopt them.
- Acquisitions make results harder to judge. Triumph has bought HubTran, Isometric Technologies and Greenscreens AI, among others. Deals can be costly to integrate and may dilute shareholders. The company says its deal history makes its results harder to forecast.
- Tech outages, breaches and reliance on Amazon. Its payments and factoring platforms run mainly on Amazon Web Services and handle a high volume of sensitive, high-dollar transactions. An outage, software flaw or cyberattack could disrupt service and damage customer trust.
Recent events
- Quarterly results released
- Other company announcement
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- Other company announcement
- Shareholder vote results
- Quarterly results released
- Other company announcement
- Quarterly results released
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For income and retirement investors
Triumph Financial offers little for income investors. The yield on its common shares was 0% as of October 28, 2026. Its filings show the same total, about $3.2 million, paid out as dividends in each year from 2021 through 2025, roughly 12.6% of 2025 earnings, with no record of annual increases. Retirement cash from this stock would have to come from the share price, not a payout. The company has returned more through buybacks (share repurchases): about $165 million from 2021 through 2025, mostly in 2022 and 2023. The share count fell about 5% between February 2022 and October 2026.
Our price history spans about 3.9 years, too short to show how the stock held up in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. In that span it fell as much as 57.6% from a peak, and it lost 31.1% in 2025. Single stocks carry more risk than diversified funds.
Questions investors ask
Does Triumph Financial pay a dividend?
Not in a meaningful way. The dividend yield on its shares was 0% as of October 28, 2026. Its filings show the same total, about $3.2 million, paid out as dividends in each year from 2021 through 2025, with no record of increases. The company has returned more cash through buybacks (share repurchases): about $165 million from 2021 through 2025, most of it in 2022 and 2023. Investors seeking regular income may find little here.
How does Triumph Financial make money?
Mainly through lending, with a heavy focus on the trucking industry. The Dallas-based company has four segments. In 2025, banking produced 57% of segment revenue, factoring 31%, payments 11% and intelligence 1%. Factoring means purchasing trucking companies' unpaid invoices at a discount so they get cash right away. Its payments network helps freight brokers, shippers and carriers process and pay invoices. Net interest income, what it earns on loans minus what it pays on deposits, was $350.6 million in 2025; noninterest income, such as fees, added $88.4 million.
Why is Triumph Financial's P/E ratio so high?
Mainly because its earnings fell sharply. The price-to-earnings (P/E) ratio, the share price divided by a year's earnings per share, was 67.7 as of October 28, 2026, based on 2025 results. Earnings per share dropped from $4.35 in 2021 to $0.54 in 2024, then rose to $0.93 in 2025. Return on equity, profit measured against shareholders' capital, was just 2.7% in 2025. Net income for the quarter ended September 30, 2026, was $13.4 million, up 686% from a year earlier.
How volatile is Triumph Financial stock?
Quite volatile. As of October 28, 2026, the share price's annualized volatility, a measure of how widely it swings, was 39.5% over the past year. Its beta of 1.01 means it moved roughly in step with the broad market, on average. The shares gained 64.1% in 2023 and 13.3% in 2024, then lost 31.1% in 2025. Over the past three years they fell as much as 57.6% from a peak, and the total gain over that span was 5%.
What are the biggest risks for Triumph Financial?
Its dependence on trucking stands out. The company's annual report says a substantial portion of its business is concentrated in the transportation industry, so a freight slump could hit its loans, factoring and payments at once. The filing also flags fraud risk in factoring, credit risk from small and mid-sized borrowers, interest rate risk, and the chance that its newer payments and intelligence businesses fail to attract enough customers. Weak profitability adds pressure: return on equity was 2.7% in 2025.