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Trio Petroleum Corp.(TPET)Earnings, Financials & Key Ratios
TPET•AMEX
Price updated Jun 19, 2026
AboutTrio Petroleum Corp. operates as an oil and gas exploration and development company. The company owns an 85.75% working interest in the approximately 9,300-acre South Salinas project located in Monterey, California. It also holds an option to acquire a 100% working interest in the Union Avenue Field located in Bakersfield, California. The company was incorporated in 2021 and is headquartered in Bakersfield, California.Show more
- Revenue$399K+87.0%
- EBITDA-$5M+15.2%
- Net Income-$7M+24.4%
- EPS (Diluted)-0.80+81.5%
- Gross Margin43.8%-55.6%
- EBITDA Margin-1321.51%+54.7%
- Operating Margin-1322.21%+54.7%
- Net Margin-1826.31%+59.6%
- ROE-71.58%+30.2%
TPET Key Insights
Trio Petroleum Corp. (TPET) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Trading at only 0.2x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 6 (bottom 6%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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TPET Price & Volume
Trio Petroleum Corp. (TPET) stock price & volume — 10-year historical chart
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TPET Growth Metrics
Trio Petroleum Corp. (TPET) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM298.63%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM8.15%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM79.9%
Return on Capital
10 Years-43.16%
5 Years-43.16%
3 Years-63.59%
Last Year-51.56%
TPET Peer Comparison
Trio Petroleum Corp. (TPET) competitors in U.S. conventional mature field operators — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CALI | 203.62M | 50.48 | 50.99 | 4.64% | -0.26% | -5.43% | 2.55 | |
 TUSK | 145.96M | 3.03 | -1.86 | -76.43% | -113.24% | -27.5% | 0.01 | |
 FORR | 128.48M | 6.70 | -1.07 | -8.23% | -13.74% | -39.22% | 0.57 | |
 BATL | 20.03M | 1.20 | -0.54 | -14.92% | -32.13% | -38.74% | 0.98 | |
 HAL | 29.17B | 34.93 | 23.29 | -3.31% | 6.95% | 14.59% | 0.77 | |
 SLB | 72.19B | 48.09 | 20.46 | -1.6% | 9.38% | 13.88% | 0.45 | |
 BKR | 57.93B | 58.41 | 22.47 | -0.34% | 11.17% | 16.13% | 0.38 | |
 WTTR | 1.99B | 17.70 | 88.50 | -3.08% | 1.54% | 2.21% | 0.40 |
Compare TPET vs Peers
Trio Petroleum Corp. (TPET) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TPET Income Statement
Trio Petroleum Corp. (TPET) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 213.2K | 398.73K | 695.09K |
Revenue Growth % | - | - | - | - | 87.02% | 298.63% |
Cost of Goods Sold | 359 | 2.78K | 2.78K | 2.78K | 224.1K | 581.78K |
COGS % of Revenue | - | - | - | 1.3% | 56.2% | - |
Gross Profit | -359▲ 0% | -2.78K▼ 673.8% | -2.78K▲ 0.0% | 210.43K▲ 7674.7% | 174.63K▼ 17.0% | 113.32K▲ 0% |
Gross Margin % | - | - | - | 98.7% | 43.8% | 16.3% |
Gross Profit Growth % | - | -673.82% | 0% | 7674.73% | -17.01% | - |
Operating Expenses | 63.59K | 803.25K | 4.61M | 6.43M | 5.45M | 5.51M |
OpEx % of Revenue | - | - | - | 3015.02% | 1366.01% | - |
Selling, General & Admin | 63.59K | 803.25K | 4.61M | 6.43M | 5.45M | 5.35M |
SG&A % of Revenue | - | - | - | 3015.02% | 1366.01% | - |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 158.15K |
Operating Income | -63.95K▲ 0% | -806.03K▼ 1160.4% | -4.61M▼ 472.0% | -6.22M▼ 34.9% | -5.27M▲ 15.2% | -5.4M▲ 0% |
Operating Margin % | - | - | - | -2916.32% | -1322.21% | -776.26% |
Operating Income Growth % | - | -1160.42% | -472.02% | -34.85% | 15.21% | - |
EBITDA | -63.59K | -803.25K | -4.61M | -6.21M | -5.27M | -5.39M |
EBITDA Margin % | - | - | - | -2915.02% | -1321.51% | -775.26% |
EBITDA Growth % | - | -1163.17% | -473.66% | -34.88% | 15.22% | -9.71% |
D&A (Non-Cash Add-back) | 359 | 2.78K | 2.78K | 2.78K | 2.78K | 6.95K |
EBIT | -63.95K | -2.14M | -5.75M | -7.51M | -6.68M | -6.07M |
Net Interest Income | -38.12K | -1.66M | -791.81K | -2.12M | -605.51K | -416.11K |
Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 38.12K | 1.66M | 791.81K | 2.12M | 605.51K | 416.11K |
Other Income/Expense | -38.11K | -2.99M | -1.93M | -3.41M | -2.01M | -1.09M |
Pretax Income | -102.06K▲ 0% | -3.8M▼ 3623.5% | -6.54M▼ 72.2% | -9.63M▼ 47.1% | -7.28M▲ 24.4% | -6.48M▲ 0% |
Pretax Margin % | - | - | - | -4515.3% | -1826.31% | -932.66% |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -102.06K▲ 0% | -3.8M▼ 3623.5% | -6.54M▼ 72.2% | -9.63M▼ 47.1% | -7.28M▲ 24.4% | -6.48M▲ 0% |
Net Margin % | - | - | - | -4515.3% | -1826.31% | -932.66% |
Net Income Growth % | - | -3623.54% | -72.2% | -47.1% | 24.36% | 8.15% |
Net Income (Continuing) | -102.06K | -3.8M | -6.54M | -9.63M | -7.28M | -6.48M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.09▲ 0% | -3.29▼ 3621.7% | -5.67▼ 72.3% | -4.32▲ 23.8% | -0.80▲ 81.5% | -0.23▲ 0% |
EPS Growth % | - | -3621.72% | -72.34% | 23.81% | 81.48% | 79.9% |
EPS (Basic) | -0.09 | -3.29 | -5.67 | -4.32 | -0.80 | - |
Diluted Shares Outstanding | 1.15M | 1.15M | 1.15M | 2.23M | 9.12M | 28.06M |
Basic Shares Outstanding | 1.15M | 1.15M | 1.15M | 2.23M | 9.12M | 28.06M |
Dividend Payout Ratio | - | - | - | - | - | - |
TPET Balance Sheet
Trio Petroleum Corp. (TPET) balance sheet — assets, liabilities & shareholders' equity
| Metric | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|
Total Current Assets | 290.33K | 1.75M | 1.7M | 565.22K | 1.07M | 22.46M |
Cash & Short-Term Investments | 78.88K | 73.65K | 1.56M | 285.94K | 882.16K | 22.1M |
Cash Only | 78.88K | 73.65K | 1.56M | 285.94K | 882.16K | 22.1M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 21.15K | 35K | 0 | 0 | 59.97K | 107.02K |
Days Sales Outstanding | - | - | - | - | 54.9 | 40.04 |
Inventory | 169.14K | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | 171.97K | - | - | - | - | - |
Other Current Assets | 0 | 1.61M | 0 | 0 | 128.86K | 0 |
Total Non-Current Assets | 7.48M | 7.74M | 9.95M | 11.12M | 12.14M | 13.27M |
Property, Plant & Equipment | 7.48M | 5.84M | 9.95M | 11.12M | 12.14M | 93K |
Fixed Asset Turnover | - | - | - | 0.02x | 0.03x | 0.11x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
Long-Term Investments | 50.55K | 10.01K | 10.01K | 10.01K | 10.01K | 40.04K |
Other Non-Current Assets | -50.55K | 1.89M | 0 | -1 | -10.01K | 13.16M |
Total Assets | 7.77M▲ 0% | 9.49M▲ 22.1% | 11.64M▲ 22.7% | 11.68M▲ 0.4% | 13.21M▲ 13.1% | 35.72M▲ 0% |
Asset Turnover | - | - | - | 0.02x | 0.03x | 0.04x |
Asset Growth % | - | 22.06% | 22.7% | 0.35% | 13.09% | 191.18% |
Total Current Liabilities | 3.68M | 6.71M | 1.85M | 2.59M | 1.86M | 999.17K |
Accounts Payable | 16.12K | 1.16M | 609.36K | 1.04M | 1.31M | 832.42K |
Days Payables Outstanding | 16.39K | 152.94K | 80.06K | 136.16K | 2.13K | 794.66 |
Short-Term Debt | 3.66M | 5.43M | 1.22M | 877.85K | 467.18K | 0 |
Deferred Revenue (Current) | -16.12K | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 2.78K | 117.66K | 24.43K | 457.74K | 83.71K | 166.75K |
Current Ratio | 0.08x | 0.26x | 0.92x | 0.22x | 0.58x | 22.48x |
Quick Ratio | 0.03x | 0.26x | 0.92x | 0.22x | 0.58x | 22.48x |
Cash Conversion Cycle | - | - | - | - | - | -754.62 |
Total Non-Current Liabilities | 42.76K | 54.98K | 48.31K | 51.09K | 53.87K | 171.76K |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Tax Liabilities | 0 | 9.45K | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 42.76K | 45.53K | 48.31K | 51.09K | 53.87K | 171.76K |
Total Liabilities | 3.72M | 6.77M | 1.9M | 2.64M | 1.91M | 1.17M |
Total Debt | 3.66M | 5.43M | 1.22M | 877.85K | 467.18K | 0 |
Net Debt | 3.58M | 5.36M | -344.33K | 591.91K | -414.98K | -22.1M |
Debt / Equity | 0.90x | 1.99x | 0.12x | 0.10x | 0.04x | 0.00x |
Debt / EBITDA | - | - | - | - | - | -0.00x |
Net Debt / EBITDA | - | - | - | - | - | 4.10x |
Interest Coverage | -1.68x | -1.29x | -7.27x | -3.54x | -11.03x | -14.58x |
Total Equity | 4.05M▲ 0% | 2.72M▼ 32.8% | 9.74M▲ 257.8% | 9.04M▼ 7.2% | 11.3M▲ 25.0% | 34.55M▲ 0% |
Equity Growth % | - | -32.77% | 257.8% | -7.19% | 25% | 272.9% |
Book Value per Share | 3.51 | 2.36 | 8.44 | 4.06 | 1.24 | 1.23 |
Total Shareholders' Equity | 4.05M | 2.72M | 9.74M | 9.04M | 11.3M | 34.55M |
Common Stock | 1.1K | 1.7K | 3.1K | 320 | 906 | 4.12K |
Retained Earnings | -102.06K | -3.9M | -10.45M | -20.07M | -27.36M | -29.74M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | 0 | 0 | 0 | 14.47K | 50.02K |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
TPET Cash Flow Statement
Trio Petroleum Corp. (TPET) cash flow — operating, investing & free cash flow history
| Metric | Oct'21 | Oct'22 | Oct'23 | Oct'24 | Oct'25 | TTM |
|---|---|---|---|---|---|---|
Cash from Operations | -258.92K | -502.14K | -4.39M | -3.84M | -2.74M | -3.19M |
Operating CF Margin % | - | - | - | -1801.44% | -687.04% | - |
Operating CF Growth % | - | -93.94% | -773.68% | 12.45% | 28.67% | 42.83% |
Net Income | -102.06K | -3.8M | -6.54M | -9.63M | -7.28M | -6.48M |
Depreciation & Amortization | 359 | 80K | 2.78K | 2.09M | 603.45K | 648.31K |
Stock-Based Compensation | 0 | 6.2K | 0 | 1.53M | 2.63M | 222.72K |
Deferred Taxes | 0 | 9.45K | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 38.83K | 2.63M | 2.17M | 1.42M | 1.34M | 2.42M |
Working Capital Changes | -195.33K | 568.7K | -13.24K | 743.07K | -29.06K | -2.93K |
Change in Receivables | 0 | 0 | 0 | 0 | -59.97K | -80.55K |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 0 | 0 | 0 | 0 | 267.19K | -83.78K |
Cash from Investing | -300K | 0 | -2.19M | -1.09M | -978.56K | -581.65K |
Capital Expenditures | -300K | 0 | -362.02K | 0 | 0 | 331.34K |
CapEx % of Revenue | - | - | - | - | 220.97% | 47.67% |
Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - |
Other Investing | 0 | 0 | -1.83M | -1.09M | -978.56K | -912.99K |
Cash from Financing | 637.8K | 496.92K | 8.07M | 3.65M | 4.3M | 24.49M |
Debt Issued (Net) | 0 | 1.9M | -1.47M | 2.74M | 838.89K | 1.02M |
Equity Issued (Net) | 637.8K | 60.54K | 9.54M | 1.17M | 3.46M | 23.47M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 0 | -1.46M | 0 | -259.9K | 0 | 0 |
Net Change in Cash | 78.88K▲ 0% | -5.23K▼ 106.6% | 1.49M▲ 28562.0% | -1.28M▼ 185.7% | 596.22K▲ 146.7% | 20.64M▲ 0% |
Free Cash Flow | -558.92K▲ 0% | -502.14K▲ 10.2% | -8.5M▼ 1592.5% | -3.84M▲ 54.8% | -3.62M▲ 5.7% | -2.78M▲ 0% |
FCF Margin % | - | - | - | -1801.44% | -908.01% | -400% |
FCF Growth % | - | 10.16% | -1592.47% | 54.81% | 5.73% | 58.45% |
FCF per Share | -0.48 | -0.43 | -7.36 | -1.73 | -0.40 | -0.10 |
FCF Conversion (FCF/Net Income) | 2.54x | 0.13x | 0.67x | 0.40x | 0.38x | 0.43x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
TPET Key Ratios
Trio Petroleum Corp. (TPET) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|
Return on Equity (ROE) | -112.21% | -104.99% | -102.49% | -71.58% | -37.32% |
Return on Invested Capital (ROIC) | -7.7% | -39.57% | -49% | -38.53% | -35.29% |
Gross Margin | - | - | 98.7% | 43.8% | 16.3% |
Net Margin | - | - | -4515.3% | -1826.31% | -932.66% |
Debt / Equity | 1.99x | 0.12x | 0.10x | 0.04x | 0.00x |
Interest Coverage | -1.29x | -7.27x | -3.54x | -11.03x | -14.58x |
FCF Conversion | 0.13x | 0.67x | 0.40x | 0.38x | 0.43x |
Revenue Growth | - | - | - | 87.02% | 298.63% |
Related:TPET Dividend History·TPET Revenue History·TPET Price History·TPET P/E History·TPET Financial Ratios·TPET Institutional Holders
TPET SEC Filings & Documents
Trio Petroleum Corp. (TPET) SEC filings — annual & quarterly reports (10-K, 10-Q)
TPET Frequently Asked Questions
Trio Petroleum Corp. (TPET) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Trio Petroleum Corp. (TPET) reported $0.7M in revenue for fiscal year 2025.
Trio Petroleum Corp. (TPET) grew revenue by 87.0% over the past year. This is strong growth.
Trio Petroleum Corp. (TPET) reported a net loss of $6.5M for fiscal year 2025.
Dividend & Returns
Trio Petroleum Corp. (TPET) has a return on equity (ROE) of -71.6%. Negative ROE indicates the company is unprofitable.
Trio Petroleum Corp. (TPET) had negative free cash flow of $2.8M in fiscal year 2025, likely due to heavy capital investments.