TRINI
Trinity Capital Inc. 7.875% Notes Due 2029
Asset Management
Market Cap$1.13B
5Y Perf.+2.4%
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Stock Comparison
TRINI vs TRIN vs GBDC
Revenue, margins, valuation, and 5-year total return — side by side.
TRIN
Trinity Capital Inc.
Asset Management
Market Cap$1.18B
5Y Perf.+16.5%
GBDC
Golub Capital BDC, Inc.
Asset Management
Market Cap$3.43B
5Y Perf.-13.9%
TRINI vs TRIN vs GBDC — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | TRINI | TRIN | GBDC |
|---|---|---|---|
| Industry | Asset Management | Asset Management | Asset Management |
| Market Cap | $1.13B | $1.18B | $3.43B |
| Revenue (TTM) | $232M | $232M | $871M |
| Net Income (TTM) | $154M | $154M | $205M |
| Gross Margin | 100.0% | 100.0% | 81.5% |
| Operating Margin | 93.1% | 93.1% | 78.9% |
| Forward P/E | 12.2x | 8.2x | 9.2x |
| Total Debt | $1.31B | $1.31B | $4.90B |
| Cash & Equiv. | $19M | $19M | $24M |
TRINI vs TRIN vs GBDC — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
TRINI
TRIN
GBDC
| Stock | Jul 24 | May 26 | Return |
|---|---|---|---|
| Trinity Capital Inc… (TRINI) | 100 | 102.4 | +2.4% |
| Trinity Capital Inc. (TRIN) | 100 | 116.5 | +16.5% |
| Golub Capital BDC, … (GBDC) | 100 | 86.1 | -13.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: TRINI vs TRIN vs GBDC
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: TRIN and GBDC are tied at the top with 3 categories each — the right choice depends on your priorities. Golub Capital BDC, Inc. is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
TRINI
Trinity Capital Inc. 7.875% Notes Due 2029
The Banking Pick
TRINI is the clearest fit if your priority is sleep-well-at-night.
- Lower volatility, beta 0.57
- Beta 0.57 vs TRIN's 0.69
Best for: sleep-well-at-night
TRIN
Trinity Capital Inc.
The Banking Pick
TRIN has the current edge in this matchup, primarily because of its strength in income & stability and long-term compounding.
- Dividend streak 1 yrs, beta 0.69, yield 11.6%
- 84.5% 10Y total return vs GBDC's 61.0%
- Beta 0.69, yield 11.6%, current ratio 22.79x
Best for: income & stability and long-term compounding
GBDC
Golub Capital BDC, Inc.
The Banking Pick
GBDC is the clearest fit if your priority is growth exposure.
- Rev growth 42.5%, EPS growth 4.4%
- 42.5% NII/revenue growth vs TRIN's -2.2%
- Efficiency ratio 0.0% vs TRIN's 0.1% (lower = leaner)
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | GBDC | 42.5% NII/revenue growth vs TRIN's -2.2% |
| Value | TRIN | Lower P/E (8.2x vs 12.2x) |
| Quality / Margins | GBDC | Efficiency ratio 0.0% vs TRIN's 0.1% (lower = leaner) |
| Stability / Safety | TRINI | Beta 0.57 vs TRIN's 0.69 |
| Dividends | TRIN | 11.6% yield, 1-year raise streak, vs GBDC's 10.5%, (1 stock pays no dividend) |
| Momentum (1Y) | TRIN | +39.0% vs GBDC's +3.3% |
| Efficiency (ROA) | GBDC | Efficiency ratio 0.0% vs TRIN's 0.1% |
TRINI vs TRIN vs GBDC — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLTRINLAGGINGGBDC
Who Leads Where
TRIN leads in 3 of 6 categories
TRINI leads 1 • GBDC leads 0 • 2 tied
Explore the data ↓GBDCGolub Capital BDC, In…
0leads
TRINITrinity Capital Inc. …
1leads
TRINTrinity Capital Inc.
3leads
6 Total Categories
CATEGORYLEADERvs TRINIvs GBDCMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
TRIN7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
TRIN6/6
Risk & VolatilityBeta, volatility, and downside exposure
TRINI2/2
Analyst OutlookRatings, price targets, and dividends
TRIN2/2
Income & Cash Flow (Last 12 Months)
Evenly matched — TRINI and TRIN each lead in 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
GBDC is the larger business by revenue, generating $871M annually — 3.7x TRIN's $232M. TRINI is the more profitable business, keeping 58.4% of every revenue dollar as net income compared to GBDC's 43.2%.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| RevenueTrailing 12 months | $232M | $232M | $871M |
| EBITDAEarnings before interest/tax | $233M | $195M | $431M |
| Net IncomeAfter-tax profit | $154M | $154M | $205M |
| Free Cash FlowCash after capex | -$518M | $25M | $313M |
| Gross MarginGross profit ÷ Revenue | +100.0% | +100.0% | +81.5% |
| Operating MarginEBIT ÷ Revenue | +93.1% | +93.1% | +78.9% |
| Net MarginNet income ÷ Revenue | +58.4% | +58.4% | +43.2% |
| FCF MarginFCF ÷ Revenue | -2.3% | -2.3% | -13.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +23.3% | +23.3% | -160.0% |
Evenly matched — TRINI and TRIN each lead in 4 of 5 comparable metrics.
Valuation Metrics
Evenly matched — TRIN and GBDC each lead in 2 of 5 comparable metrics.
Valuation Metrics
At 8.7x trailing earnings, TRIN trades at a 33% valuation discount to TRINI's 13.0x P/E. On an enterprise value basis, TRINI's 11.2x EV/EBITDA is more attractive than GBDC's 12.1x.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| Market CapShares × price | $1.1B | $1.2B | $3.4B |
| Enterprise ValueMkt cap + debt − cash | $2.4B | $2.5B | $8.3B |
| Trailing P/EPrice ÷ TTM EPS | 12.95x | 8.68x | 9.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 12.20x | 8.19x | 9.15x |
| PEG RatioP/E ÷ EPS growth rate | — | — | 0.30x |
| EV / EBITDAEnterprise value multiple | 11.20x | 11.43x | 12.08x |
| Price / SalesMarket cap ÷ Revenue | 4.86x | 5.08x | 3.93x |
| Price / BookPrice ÷ Book value/share | 1.61x | 1.08x | 0.88x |
| Price / FCFMarket cap ÷ FCF | — | — | — |
Evenly matched — TRIN and GBDC each lead in 2 of 5 comparable metrics.
Profitability & Efficiency
TRIN leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
TRINI delivers a 14.7% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $5 for GBDC. TRINI carries lower financial leverage with a 1.20x debt-to-equity ratio, signaling a more conservative balance sheet compared to GBDC's 1.23x. On the Piotroski fundamental quality scale (0–9), GBDC scores 4/9 vs TRINI's 2/9, reflecting mixed financial health.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| ROE (TTM)Return on equity | +14.7% | +14.7% | +5.2% |
| ROA (TTM)Return on assets | +6.6% | +6.6% | +2.3% |
| ROICReturn on invested capital | +7.9% | +7.9% | +5.9% |
| ROCEReturn on capital employed | +10.2% | +10.2% | +7.8% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 3 | 4 |
| Debt / EquityFinancial leverage | 1.20x | 1.20x | 1.23x |
| Net DebtTotal debt minus cash | $1.3B | $1.3B | $4.9B |
| Cash & Equiv.Liquid assets | $19M | $19M | $24M |
| Total DebtShort + long-term debt | $1.3B | $1.3B | $4.9B |
| Interest CoverageEBIT ÷ Interest expense | 2.49x | 1.54x | 1.62x |
TRIN leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
TRIN leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in TRIN five years ago would be worth $18,159 today (with dividends reinvested), compared to $11,506 for TRINI. Over the past 12 months, TRIN leads with a +39.0% total return vs GBDC's +3.3%. The 3-year compound annual growth rate (CAGR) favors TRIN at 25.5% vs TRINI's 4.8% — a key indicator of consistent wealth creation.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| YTD ReturnYear-to-date | +2.3% | +17.6% | -0.7% |
| 1-Year ReturnPast 12 months | +8.3% | +39.0% | +3.3% |
| 3-Year ReturnCumulative with dividends | +15.1% | +97.5% | +35.3% |
| 5-Year ReturnCumulative with dividends | +15.1% | +81.6% | +33.2% |
| 10-Year ReturnCumulative with dividends | +15.1% | +84.5% | +61.0% |
| CAGR (3Y)Annualised 3-year return | +4.8% | +25.5% | +10.6% |
TRIN leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
TRINI leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
TRINI is the less volatile stock with a 0.57 beta — it tends to amplify market swings less than TRIN's 0.69 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. TRINI currently trades 98.6% from its 52-week high vs GBDC's 84.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.57x | 0.69x | 0.64x |
| 52-Week HighHighest price in past year | $25.74 | $17.38 | $15.63 |
| 52-Week LowLowest price in past year | $7.20 | $13.75 | $11.77 |
| % of 52W HighCurrent price vs 52-week peak | +98.6% | +97.9% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 72.5 | 76.6 | 52.8 |
| Avg Volume (50D)Average daily shares traded | 15K | 1.3M | 2.4M |
TRINI leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
TRIN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: TRIN as "Buy", GBDC as "Buy". Consensus price targets imply 9.0% upside for GBDC (target: $14) vs 0.9% for TRIN (target: $17). For income investors, TRIN offers the higher dividend yield at 11.56% vs GBDC's 10.53%.
| Metric | TRINITrinity Capital I… | TRINTrinity Capital I… | GBDCGolub Capital BDC… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy |
| Price TargetConsensus 12-month target | — | $17.17 | $14.33 |
| # AnalystsCovering analysts | — | 7 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | +11.6% | +10.5% |
| Dividend StreakConsecutive years of raises | 0 | 1 | 0 |
| Dividend / ShareAnnual DPS | — | $1.97 | $1.38 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +2.3% |
TRIN leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
TRIN leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). TRINI leads in 1 (Risk & Volatility). 2 tied.
Best OverallTrinity Capital Inc. (TRIN)Leads 3 of 6 categories
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TRINI vs TRIN vs GBDC: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is TRINI or TRIN or GBDC a better buy right now?
For growth investors, Golub Capital BDC, Inc.
(GBDC) is the stronger pick with 42. 5% revenue growth year-over-year, versus -2. 2% for Trinity Capital Inc. (TRIN). Trinity Capital Inc. (TRIN) offers the better valuation at 8. 7x trailing P/E (8. 2x forward), making it the more compelling value choice. Analysts rate Trinity Capital Inc. (TRIN) a "Buy" — based on 7 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — TRINI or TRIN or GBDC?
On trailing P/E, Trinity Capital Inc.
(TRIN) is the cheapest at 8. 7x versus Trinity Capital Inc. 7. 875% Notes Due 2029 at 13. 0x. On forward P/E, Trinity Capital Inc. is actually cheaper at 8. 2x.
03Which is the better long-term investment — TRINI or TRIN or GBDC?
Over the past 5 years, Trinity Capital Inc.
(TRIN) delivered a total return of +81. 6%, compared to +15. 1% for Trinity Capital Inc. 7. 875% Notes Due 2029 (TRINI). Over 10 years, the gap is even starker: TRIN returned +84. 5% versus TRINI's +15. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — TRINI or TRIN or GBDC?
By beta (market sensitivity over 5 years), Trinity Capital Inc.
7. 875% Notes Due 2029 (TRINI) is the lower-risk stock at 0. 57β versus Trinity Capital Inc. 's 0. 69β — meaning TRIN is approximately 20% more volatile than TRINI relative to the S&P 500. On balance sheet safety, Trinity Capital Inc. 7. 875% Notes Due 2029 (TRINI) carries a lower debt/equity ratio of 120% versus 123% for Golub Capital BDC, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — TRINI or TRIN or GBDC?
By revenue growth (latest reported year), Golub Capital BDC, Inc.
(GBDC) is pulling ahead at 42. 5% versus -2. 2% for Trinity Capital Inc. (TRIN). On earnings-per-share growth, the picture is similar: Golub Capital BDC, Inc. grew EPS 4. 4% year-over-year, compared to -6. 7% for Trinity Capital Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — TRINI or TRIN or GBDC?
Trinity Capital Inc.
7. 875% Notes Due 2029 (TRINI) is the more profitable company, earning 58. 4% net margin versus 43. 2% for Golub Capital BDC, Inc. — meaning it keeps 58. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TRINI leads at 93. 1% versus 78. 9% for GBDC. At the gross margin level — before operating expenses — TRINI leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is TRINI or TRIN or GBDC more undervalued right now?
On forward earnings alone, Trinity Capital Inc.
(TRIN) trades at 8. 2x forward P/E versus 12. 2x for Trinity Capital Inc. 7. 875% Notes Due 2029 — 4. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GBDC: 9. 0% to $14. 33.
08Which pays a better dividend — TRINI or TRIN or GBDC?
In this comparison, TRIN (11.
6% yield), GBDC (10. 5% yield) pay a dividend. TRINI does not pay a meaningful dividend and should not be held primarily for income.
09Is TRINI or TRIN or GBDC better for a retirement portfolio?
For long-horizon retirement investors, Golub Capital BDC, Inc.
(GBDC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 64), 10. 5% yield). Both have compounded well over 10 years (GBDC: +61. 0%, TRINI: +15. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between TRINI and TRIN and GBDC?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: TRINI is a small-cap deep-value stock; TRIN is a small-cap deep-value stock; GBDC is a small-cap high-growth stock. TRIN, GBDC pay a dividend while TRINI does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(TRINI: 2.4% · TRIN: -2.2%)Net Margin>
%
(TRINI: 58.4% · TRIN: 58.4%)P/E Ratio<
x
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