What is Trupanion's net debt?

Trupanion (TRUP) reported net debt of -$73.53M in Q1 2026.

How has Trupanion's net debt changed year-over-year?

Trupanion's net debt increased by 4.7% year-over-year, from -$77.13M to -$73.53M.

What is the long-term trend for Trupanion's net debt?

Over 4 years (2020 to 2025), Trupanion's net debt has grown at a -25.2% compound annual growth rate (CAGR), from -$145.72M to -$45.51M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Trupanion TRUP Net debt

Discontinued — last reported Q1 '26

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HES

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3.1×-0.1×

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Other financials

Income statement

See full

Revenue$384.0M+12.3%

Gross profit$61.5M+20.3%

Operating income$4.8M+424%

Net income$4.9M+429%

EPS (diluted)$0.11+467%

Balance sheet

See full

Cash & equivalents$182.9M-11.2%

Total debt$109.3M-15.2%

Total equity$394.8M+18.3%

Total assets$921.6M+10.1%

Cash flow

See full

Operating cash flow$14.6M-8.6%

CapEx$847.0K-56.1%

Free cash flow$13.7M-2.1%

Valuation

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Market cap$1.04B-56.5%

Enterprise value$968.57M-58.3%

P/E40.4×—

P/S0.7×-1.1×

Profitability

See full

Gross margin16.3%+1.6pp

Operating margin1.4%+1.1pp

Net margin1.7%—

FCF margin5.1%+1.0pp

Returns & leverage

See full

Return on equity7.1%—

Debt / equity0.3×-0.1×

Current ratio1.7×0.0×

Where this comes from

Calculated from Trupanion’s reported figures.

$109.3Mtotal debt−$182.9Mcash and equivalents=-$73.53M

The official record: Trupanion’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Trupanion's net debt?: Trupanion (TRUP) reported net debt of -$73.53M in Q1 2026.
How has Trupanion's net debt changed year-over-year?: Trupanion's net debt increased by 4.7% year-over-year, from -$77.13M to -$73.53M.
What is the long-term trend for Trupanion's net debt?: Over 4 years (2020 to 2025), Trupanion's net debt has grown at a -25.2% compound annual growth rate (CAGR), from -$145.72M to -$45.51M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.