Trupanion, Inc.

TRUP

NASDAQ · Specialty Insurers

$36.75

At close - Nov 6, 4:00 PM EST - USD

Market Cap$1.6B

P/E60.4x

52W High$46.98

Volume978.84K

VCP Research Verdict2026Q2

Underwriting Discipline Drives Margin Recovery Amid Decelerating Growth

Trupanion has transitioned from underwriting losses to sustained profitability, with the combined ratio improving from 102.0% in 2024Q1 to 98.4% in 2026Q2, driven by disciplined pricing and favorable reserve development.

Explore valuation models

MARKET ACTION

TRUP price & volume

Price trend, volume and key moving averages

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Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

TRUP-1.21%

S&P 500 (^GSPC)+7.63%

1-Year Return

TRUP-12.69%

S&P 500 (^GSPC)+9.69%

3-Year Return

TRUP+57.05%

S&P 500 (^GSPC)+78.21%

5-Year Return

TRUP-70.23%

S&P 500 (^GSPC)+63.26%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/E5Y Low

60.4x

Forward P/EExpansion

58.2x

EV/EBITDA0th %ile

36.3x

FCF YieldCash Flow

5.4%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

60.4x

83.0x

0th· Low

EV/EBITDA

36.3x

287.8x

0th· Low

Price/FCF

18.5x

52.7x

0th· Low

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$3.01-91.8%

Base (Fair)$6.89-81.3%

Bull$12.35-66.4%

$3.01 Bear$6.89 Base$12.35 Bull

Current Market Price: $36.75

Trades at a 433.4% premium to Base DCF ($6.89)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$1.44B+11.9% YoY

Net income FY25

$19M+301.7% YoY

Free cash flow FY25

$75M+95.4% YoY

Operating margin FY25

1.5%+2.3 pts YoY

ROIC (FY25)5.1%

Avg ROIC 5Y-6.2%

ROE (TTM)6.7%

Piotroski Score6 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate9/12 (75%)

Revenue Beat Rate10/12 (83%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Nov 5, 2026	$0.21+28.6% vs $0.16	$406M+0.8% vs $403M
Q3 2026 Aug 5, 2026	$0.16+41.2% vs $0.11	$393M+0.8% vs $390M
Q2 2026 Apr 30, 2026	$0.11+57.1% vs $0.07	$384M+1.1% vs $380M
Q1 2026 Feb 12, 2026	$0.13-7.1% vs $0.14	$377M+0.4% vs $376M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

Seeking Alpha·1d ago

Trupanion, Inc. (TRUP) Q3 2026 Earnings Call Transcript

Trupanion, Inc. ( TRUP ) Q3 2026 Earnings Call November 5, 2026 4:30 PM EST Company Participants James Duies Margaret Tooth - President, CEO & Director Fawwad Qureshi - Chief Financial Officer Conference Call Participants Joshua Shanker - BofA Securities, Research Division Wilma Jackson Burdis - Raymond James & Associates, Inc., Research Division Brandon Vazquez - William Blair & Company L.L.C., Research Division Presentation Operator Good day, and welcome to Trupanion Third Quarter 2026 Earnings Conference Call.

MarketBeat·2d ago

Trupanion Q3 Earnings Call Highlights

Trupanion NASDAQ: TRUP reported third-quarter revenue growth of 11% and record free cash flow, as the pet insurer added customers while reducing its acquisition cost per pet.

Zacks Investment Research·2d ago

Trupanion (TRUP) Q3 Earnings and Revenues Beat Estimates

Trupanion (TRUP) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.13 per share a year ago.

Zacks Investment Research·2d ago

Trupanion (TRUP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

The headline numbers for Trupanion (TRUP) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Filtered for Trupanion, Inc.More Headlines

Compare before deciding

Benchmark TRUP against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Trupanion, Inc. (TRUP)

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Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
TRUPTrupanion, Inc.Current	$36.75	$1.6B	60.41	11.95%	1.71%	6.71%	—
LMNDLemonade, Inc.	$39.55	$3.04B	-21.21	40.15%	-13.48%	-28.59%	—
HIFSHingham Institution for Savings	$296.94	$647.4M	10.67	58.43%	53.16%	12.41%	0.84%
WOOFPetco Health and Wellness Company, Inc.	$2.96	$845.27M	28.41	-2.53%	0.51%	2.58%	—
PETSPetMed Express, Inc.	$1.22	$26.07M	-0.90	-21.13%	-17.34%	-91.67%	0.08%
PGRThe Progressive Corporation	$227.77	$132.61B	11.41	16.32%	12.67%	35.44%	2.14%

Compare TRUP vs Peers

Trupanion, Inc. (TRUP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs LMND

Most directly comparable listed peer for TRUP.

Scale Benchmark

vs PGR

Larger-name benchmark to compare TRUP against a more recognizable public peer.

Peer Set

Compare Top 5

vs LMND, HIFS, WOOF, PETS

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

TRUP SEC Filings & Documents

Trupanion, Inc. (TRUP) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Aug 5, 2026·SEC

Material company update

Jun 15, 2026·SEC

Material company update

Apr 30, 2026·SEC

10-K Annual Reports

FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

FY 2026

Aug 5, 2026·SEC

FY 2026

Apr 30, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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TRUP Frequently Asked Questions

Trupanion, Inc. (TRUP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

How fast is Trupanion, Inc. growing?

Trupanion, Inc. (TRUP) grew revenue by 11.4% over the trailing twelve months, compared with the twelve months before.

Is TRUP profitable?

Yes. Trupanion, Inc. (TRUP) earned $26.6M in net income over the trailing twelve months (a 1.7% net margin).

Dividend & Returns

What is TRUP's return on equity?

Trupanion, Inc. (TRUP) had a return on equity (ROE) of 6.7% over the trailing twelve months. That is below the market's typical 10-15%.

Industry Metrics

What is Trupanion, Inc.'s combined ratio?

Trupanion, Inc. (TRUP) has a combined ratio of 98.5%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in TRUP back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Nov 5, 2026

$0.21+28.6%

vs $0.16

$406M+0.8%

vs $403M

Q3 2026

Aug 5, 2026

$0.16+41.2%

vs $0.11

$393M+0.8%

vs $390M

Q2 2026

Apr 30, 2026

$0.11+57.1%

vs $0.07

$384M+1.1%

vs $380M

Q1 2026

Feb 12, 2026

$0.13-7.1%

vs $0.14

$377M+0.4%

vs $376M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

TRUPTrupanion, Inc.Current

$36.75

$1.6B

60.41

11.95%

1.71%

6.71%

—

LMNDLemonade, Inc.

$39.55

$3.04B

-21.21

40.15%

-13.48%

-28.59%

—

HIFSHingham Institution for Savings

$296.94

$647.4M

10.67

58.43%

53.16%

12.41%

0.84%

WOOFPetco Health and Wellness Company, Inc.

$2.96

$845.27M

28.41

-2.53%

0.51%

2.58%

—

PETSPetMed Express, Inc.

$1.22

$26.07M

-0.90

-21.13%

-17.34%

-91.67%

0.08%

PGRThe Progressive Corporation

$227.77

$132.61B

11.41

16.32%

12.67%

35.44%

2.14%