Triumph Financial, Inc.
- Open
- 80.14
- Day high
- 80.14
- Day low
- 77.58
- Prev close
- 80.61
- Volume
- 230K
- Mkt cap
- $1.9B
- P/E (TTM)
- 65.4
- EPS (TTM)
- $1.19
- P/B
- 1.9
- P/S
- 3.7
- Yield
- —
- Per share
- —
- ▲Insiders net buying $276K over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions mixed (13F)
Triumph Financial, Inc. (TFIN) is a Financial Services company listed on NASDAQ. The stock is up 27% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4).
Triumph Financial, Inc. (TFIN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TFIN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.15 | $0.23 | +53.3% | $106M | -1.4% |
| Jan 26, 2026 | $0.30 | $0.77 | +160.1% | — | — |
| Oct 15, 2025 | $0.12 | $0.19 | +58.3% | $109M | -1.5% |
| Jul 16, 2025 | $0.04 | $0.15 | +275.0% | $108M | -3.0% |
| Apr 16, 2025 | $0.06 | $0.04 | -33.3% | $102M | -2.8% |
| Jan 22, 2025 | $0.23 | $0.13 | -43.5% | $103M | -4.6% |
| Oct 16, 2024 | $0.18 | $0.19 | +5.6% | $106M | -1.2% |
| Jul 17, 2024 | $0.22 | $0.08 | -63.6% | $105M | -2.4% |
| Apr 17, 2024 | $0.34 | $0.14 | -58.8% | $117M | +6.1% |
| Jan 23, 2024 | $0.40 | $0.37 | -7.5% | $105M | -2.4% |
| Oct 19, 2023 | $0.37 | $0.51 | +37.8% | $105M | -4.4% |
| Jul 20, 2023 | $0.41 | $0.29 | -29.3% | $103M | -5.7% |
TFIN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 26, 2026 | Schreyer Edward Josephofficer: EVP, Chief Operating Officer | Sell | 2,900 | $66.70 |
| May 11, 2026 | Ritterbusch Toddofficer: President - TBK Bank, SSB | Buy | 7,000 | $67.01 |
| May 5, 2026 | Rafferty Michael Pdirector | Grant | 1,258 | — |
| May 5, 2026 | Sparks C Todddirector | Grant | 1,258 | — |
| May 5, 2026 | Schreyer Edward Josephofficer: EVP, Chief Operating Officer | Grant | 4,163 | — |
| May 5, 2026 | Nelson Adam Dofficer: EVP and General Counsel | Grant | 2,710 | — |
| May 5, 2026 | Voss William B.officer: Chief Financial Officer | Grant | 2,220 | — |
| May 5, 2026 | Ritterbusch Toddofficer: President - TBK Bank, SSB | Grant | 2,359 | — |
| May 5, 2026 | Nelson Adam Dofficer: EVP and General Counsel | Grant | 2,017 | — |
| May 5, 2026 | Nelson Adam Dofficer: EVP and General Counsel | Grant | 1,850 | — |
| May 5, 2026 | Anderson Charles Albertdirector | Grant | 1,258 | — |
| May 5, 2026 | Voss William B.officer: Chief Financial Officer | Grant | 2,691 | — |
| May 5, 2026 | Schreyer Edward Josephofficer: EVP, Chief Operating Officer | Tax | 3,439 | $67.55 |
| May 5, 2026 | Graft Aaron Pdirector, officer: President & CEO | Grant | 17,418 | $67.55 |
| May 5, 2026 | Schreyer Edward Josephofficer: EVP, Chief Operating Officer | Grant | 2,691 | — |
Source: TFIN SEC Form 4 filings, latest May 26, 2026. For informational purposes only — not investment advice.
See the full TFIN insider & 13F page →Triumph Financial, Inc. company profile
Overview
Triumph Financial, Inc. (NASDAQ:TFIN) is a Dallas-based financial technology company that was founded in 1981 and went public in November 2014. Originally established as a regional bank under the name Triumph Bancorp, the company underwent a strategic transformation and rebranded to Triumph Financial in December 2022 to reflect its evolution into a specialized fintech focused on the transportation industry. The company operates through multiple brands including TriumphPay, Triumph Business Capital, and TBK Bank, positioning itself as a comprehensive financial services provider specifically tailored to the trucking and freight transportation ecosystem.
Business
Triumph Financial operates as a specialized financial technology company serving the transportation industry, particularly the trucking sector. The company has evolved from a traditional regional bank into a fintech platform that addresses the unique payment and financing needs of freight transportation. The company operates through three primary business segments. The Payments segment, operating under the TriumphPay brand, represents approximately 29% of revenue and functions as a digital payments network specifically designed for the trucking industry. TriumphPay processes invoice payments between freight brokers, trucking companies, and factoring companies, aiming to eliminate the inefficiencies of traditional paper-based payment systems that can take weeks to settle. The platform uses artificial intelligence and machine learning to automate invoice processing and validation, with 75% of invoices now processed without human intervention. The Factoring segment, operating as Triumph Business Capital, accounts for roughly 60% of revenue and provides invoice factoring services to trucking companies. Invoice factoring is a financial service where trucking companies sell their unpaid invoices to Triumph at a discount in exchange for immediate cash flow. This addresses a critical need in the trucking industry, where drivers and small trucking companies often wait 30-90 days to receive payment from freight brokers and shippers, but need immediate cash to cover fuel, maintenance, and other operating expenses. The Banking segment, operated through TBK Bank, contributes approximately 11% of revenue and provides traditional banking services including deposits, loans, and treasury management. The bank primarily serves as the financial infrastructure supporting the other business segments while also offering services to transportation-related businesses and other commercial clients. The company is also developing a new Intelligence segment that aims to monetize the vast amount of transportation data it collects through its payment and factoring operations, though this segment currently generates minimal revenue.
Revenue model
Triumph Financial generates revenue through multiple complementary business models centered around the transportation industry. The factoring business operates on a traditional factoring model where the company purchases invoices from trucking companies at a discount, typically charging fees of 1-5% of the invoice value depending on the creditworthiness of the freight broker or shipper who owes the money. The company makes money on the spread between what it pays trucking companies and what it ultimately collects from the invoice obligors. The payments business generates revenue through transaction fees charged to participants in the TriumphPay network. Currently, the company processes payments but has not fully monetized these transactions, focusing instead on building network density. The long-term strategy involves charging approximately $5 per network transaction while providing $20 of value through reduced processing costs and improved efficiency. The company also plans to generate revenue through its LoadPay virtual wallet product, which will earn interchange fees from debit card transactions and potentially profit from float on deposited funds. The banking segment generates revenue through traditional banking activities including net interest income from loans and deposits, as well as fee income from various banking services. TBK Bank maintains a relatively low cost of funds at 1.57%, providing a stable funding source for the company's other operations. Several factors significantly impact the company's margins and profitability. The freight market's cyclical nature directly affects demand for factoring services, as trucking companies need more working capital financing during downturns but may have higher credit risk. Rising interest rates increase the company's funding costs while potentially improving the spread on factoring advances. Competition from traditional banks, alternative lenders, and fintech companies can pressure pricing, though Triumph's specialized focus and technology platform provide some differentiation. The company's heavy investment in technology and network building creates near-term margin pressure but is expected to drive long-term operating leverage as transaction volumes scale across the fixed cost base.
Competitive moat
Triumph Financial's competitive moat centers on its specialized network effects within the transportation industry and its integrated technology platform, though this moat is still developing and faces several challenges. The company's primary competitive advantage lies in building what it calls a "ubiquitous payments network" for trucking, where the value increases as more freight brokers, trucking companies, and factoring companies join the platform. As network density approaches the company's target of 60-65% market share, it becomes increasingly difficult for competitors to replicate the same level of connectivity and efficiency. The company's deep specialization in transportation finance provides another layer of competitive protection. Triumph has developed industry-specific expertise in credit underwriting for trucking companies, understanding the unique cash flow patterns and risk factors that general-purpose lenders may not fully appreciate. This specialization, combined with proprietary data from processing billions of dollars in freight payments, creates informational advantages that are difficult for new entrants to replicate quickly. However, the moat faces significant challenges and potential disruption. Large technology companies or established financial services firms with greater resources could potentially build competing networks, especially if they can offer better pricing or more comprehensive services. Traditional banks are increasingly investing in fintech capabilities and could target the same market with lower cost structures. The trucking industry's fragmented nature, while creating opportunities, also means that customer relationships can be less sticky than in other industries. The company's moat strength is currently moderate and largely dependent on successful execution of its network strategy. If Triumph can achieve its targeted market share and successfully monetize the network effects, the competitive position could strengthen significantly. However, the company is still in the investment phase with unproven long-term unit economics, making the durability of its competitive advantages uncertain.
Risks & safety
The margin of safety appears moderate with some concerning elements requiring careful monitoring. • **Liquidity and Solvency**: Strong cash position with $330 million in cash and short-term investments as of Q4 2024, providing substantial liquidity buffer. Debt-to-equity ratio of 0.16 indicates conservative leverage. However, negative free cash flow of -$29 million for FY 2024 and operating cash flow volatility raise concerns about cash burn sustainability. • **Valuation Metrics**: Trading at 2.38x book value and 86.8x trailing earnings (Q3 2024), indicating expensive valuation relative to current profitability. Graham number of 24.4 suggests potential overvaluation based on traditional value metrics. • **Credit Quality**: Approximately 40% through working out credit stress in equipment finance portfolio, with management confident in resolution by year-end. Improved credit metrics provide some comfort, but the company remains exposed to freight market cyclicality. • **Other Considerations**: Heavy ongoing investment in technology and network building creates earnings volatility but may be necessary for long-term competitive positioning. Revenue concentration in cyclical transportation industry creates inherent volatility risk.
Recent development
Over the past few years, Triumph Financial has undergone a significant strategic transformation from a traditional regional bank to a specialized transportation fintech company. The most notable development was the company's name change from Triumph Bancorp to Triumph Financial in December 2022, reflecting its evolution beyond traditional banking. The company has made substantial investments in building its TriumphPay payments network, with technology spending exceeding $110 million annually. A major milestone was achieving EBITDA breakeven for TriumphPay one year ahead of schedule in 2023. The network has grown to process over $5.7 billion in payment volume and currently handles approximately 47-50% of brokered freight transactions, with a target of reaching 60-65% market share by 2025. Key strategic partnerships have been central to the company's growth strategy. The partnership with C.H. Robinson, one of the largest freight brokers in North America, represents a significant development. This relationship includes both TriumphPay network participation and a Factoring-as-a-Service (FaaS) arrangement, with full implementation expected to contribute meaningful revenue in the second half of 2025. The company launched LoadPay, a virtual wallet product targeting the 95% of truckers who are small, independent operators. This represents an expansion beyond the company's traditional focus on larger trucking companies and freight brokers. LoadPay aims to provide 24/7 funding capabilities and instant payment access through a mobile application. Triumph has also been developing artificial intelligence and machine learning capabilities, with 75% of invoices now processed without human intervention. The company is creating a new Intelligence segment to monetize the transportation data it collects, though this remains in early development with minimal current revenue contribution. Recent acquisitions include the pending purchase of Green Screens, expected to close in Q2 2025, which will enhance the company's technology capabilities and market reach.
TFIN company profile · for informational purposes only — not investment advice.
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