(TRUP) Trupanion - NASDAQ
Sector: Financial Services | Industry: Insurance - Property & Casualty | Exchange: NASDAQ (USA) | Market Cap: 1.032m USD | Total Return: -55.6% in 12m
Avg Turnover: 8.72M
Qual. Beats: 0
Rev. Trend: 99.4%
Qual. Beats: 16
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Trupanion, Inc. (TRUP) provides medical insurance subscriptions for cats and dogs across North America, Europe, and Australia. Founded in 2000 and headquartered in Seattle, the company operates through two primary segments: Subscription Business and Other Business, serving both pet owners and veterinary professionals.
The pet insurance sector is characterized by low market penetration in North America compared to European markets, offering a significant total addressable market as veterinary costs rise. Trupanion’s business model focuses on high-margin subscriptions and direct integration with veterinary software to facilitate point-of-sale claim settlements.
Investors can evaluate the company’s long-term retention rates and loss ratios on ValueRay to better understand its valuation. This summary reflects the companys transition from its original identity as Vetinsurance International to a global provider of specialized animal health coverage.
- Subscription revenue growth depends on pet owner conversion and retention rates
- Rising veterinary care inflation pressures loss ratios and adjusted operating margins
- State regulatory approvals for rate increases impact underwriting profitability and revenue
- High customer acquisition costs relative to lifetime value affects net profitability
- Expansion into European and Australian markets diversifies geographic revenue concentration
| Net Income: 25.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 2.53 > 1.0 |
| NWC/Revenue: 20.04% < 20% (prev 19.60%; Δ 0.44% < -1%) |
| CFO/TA 0.10 > 3% & CFO 88.1m > Net Income 25.8m |
| Net Debt (-274.3m) to EBITDA (57.6m): -4.77 < 3 |
| Current Ratio: 1.73 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.7m) vs 12m ago 2.12% < -2% |
| Gross Margin: 22.38% > 18% (prev 14.66%; Δ 7.72% > 0.5%) |
| Asset Turnover: 168.5% > 50% (prev 157.9%; Δ 10.60% > 0%) |
| Interest Coverage Ratio: 3.37 > 6 (EBIT TTM 41.8m / Interest Expense TTM 12.4m) |
| A: 0.32 (Total Current Assets 705.2m - Total Current Liabilities 408.4m) / Total Assets 921.6m |
| B: -0.22 (Retained Earnings -201.6m / Total Assets 921.6m) |
| C: 0.05 (EBIT TTM 41.8m / Avg Total Assets 879.4m) |
| D: 0.75 (Book Value of Equity 394.8m / Total Liabilities 526.8m) |
| Altman-Z'' = 2.51 = A |
| DSRI: 0.94 (Receivables 304.8m/290.1m, Revenue 1.48b/1.32b) |
| GMI: 0.65 (GM 14.66% / 22.38%) |
| AQI: 0.97 (AQ_t 0.12 / AQ_t-1 0.13) |
| SGI: 1.12 (Revenue 1.48b / 1.32b) |
| TATA: -0.07 (NI 25.8m - CFO 88.1m) / TA 921.6m) |
| Beneish M = -3.33 (Cap -4..+1) = AA |
As of June 19, 2026, the stock is trading at USD 23.57 with a total of 492,558 shares traded.
Over the past week, the price has changed by +0.81%,
over one month by +4.99%,
over three months by -10.96% and
over the past year by -55.56%.
Trupanion has received a consensus analysts rating of 4.17. Therefore, it is recommended to buy TRUP.
- StrongBuy: 3
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 39.8 | 68.6% |
P/E Trailing = 40.0847
P/E Forward = 1428.5714
P/S = 0.6964
P/B = 2.6129
Revenue TTM = 1.48b USD
EBIT TTM = 41.8m USD
EBITDA TTM = 57.6m USD
Long Term Debt = 99.3m USD (from longTermDebt, last quarter)
Short Term Debt = 10.0m USD (from shortTermDebt, last quarter)
Debt = 109.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -274.3m USD (calculated: Debt 109.3m - CCE 383.7m)
Enterprise Value = 757.3m USD (1.03b + Debt 109.3m - CCE 383.7m)
Interest Coverage Ratio = 3.37 (Ebit TTM 41.8m / Interest Expense TTM 12.4m)
EV/FCF = 11.48x (Enterprise Value 757.3m / FCF TTM 66.0m)
FCF Yield = 8.71% (FCF TTM 66.0m / Enterprise Value 757.3m)
FCF Margin = 4.45% (FCF TTM 66.0m / Revenue TTM 1.48b)
Net Margin = 1.74% (Net Income TTM 25.8m / Revenue TTM 1.48b)
Gross Margin = 22.38% ((Revenue TTM 1.48b - Cost of Revenue TTM 1.15b) / Revenue TTM)
Gross Margin QoQ = 26.72% (prev 30.26%)
Tobins Q-Ratio = 0.82 (Enterprise Value 757.3m / Total Assets 921.6m)
Interest Expense / Debt = 11.36% (Interest Expense 12.4m / Debt 109.3m)
Taxrate = 12.24% (3.60m / 29.4m)
NOPAT = 36.7m (EBIT 41.8m * (1 - 12.24%))
Current Ratio = 1.67 (Total Current Assets 705.2m / Total Current Liabilities 421.2m)
Debt / Equity = 0.28 (Debt 109.3m / totalStockholderEquity, last quarter 394.8m)
Debt / EBITDA = -4.77 (Net Debt -274.3m / EBITDA 57.6m)
Debt / FCF = -4.16 (Net Debt -274.3m / FCF TTM 66.0m)
Total Stockholder Equity = 375.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.93% (Net Income 25.8m / Total Assets 921.6m)
RoE = 6.87% (Net Income TTM 25.8m / Total Stockholder Equity 375.7m)
RoCE = 8.80% (EBIT 41.8m / Capital Employed (Equity 375.7m + L.T.Debt 99.3m))
RoIC = 8.17% (NOPAT 36.7m / Invested Capital 449.1m)
WACC = 10.31% (E(1.03b)/V(1.14b) * Re(10.35%) + D(109.3m)/V(1.14b) * Rd(11.36%) * (1-Tc(0.12)))
Discount Rate = 10.35% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 2.07%
[DCF] Terminal Value 71.89% ; FCFF base≈55.1m ; Y1≈63.1m ; Y5≈92.9m
[DCF] Fair Price = 30.09 (EV 1.04b - Net Debt -274.3m = Equity 1.31b / Shares 43.6m; r=10.31% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.38 | # QB: 0
Revenue Correlation: 99.41 | Revenue CAGR: 14.63% | SUE: 2.33 | # QB: 16
EPS current Quarter (2026-06-30): EPS=0.94 | Chg30d=-1.05% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.98 | Chg30d=-3.92% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=3.92 | Chg30d=-0.76% | Revisions=-20% | GrowthEPS=+42.3% | GrowthRev=+9.7%
EPS next Year (2027-12-31): EPS=4.31 | Chg30d=+1.41% | Revisions=+20% | GrowthEPS=+10.0% | GrowthRev=+8.6%