Trinity Capital (TRIN) Prnewswire·2025-02-26 13:05Core Insights - Trinity Capital Inc. reported a record quarterly net investment income of $35 million, or $0.58 per share, for Q4 2024, and an annual net investment income of $116 million, or $2.20 per share [1][10] - The company achieved a total investment income growth of 31% year-over-year for 2024, with total investment income reaching $237.7 million [1][10] - The return on average equity (ROAE) for Q4 2024 was 17.4%, while the return on average assets (ROAA) was 7.6% [10] Fourth Quarter 2024 Highlights - Total investment income for Q4 2024 was $70.8 million, a 48.1% increase from $47.8 million in Q4 2023 [5][10] - Net investment income for Q4 2024 was approximately $34.6 million, compared to $25.1 million in Q4 2023 [8][10] - The effective yield on average debt investments at cost was 16.4% for Q4 2024, slightly down from 16.7% in Q4 2023 [5] Full Year 2024 Highlights - Total gross investments funded for the year reached $1.2 billion, marking a 91.6% increase year-over-year [10] - The net asset value (NAV) at the end of Q4 2024 was $823 million, or $13.35 per share, up from $611 million at the end of 2023 [12][10] - The company maintained its 20th consecutive quarter of consistent or increased regular dividends, with a distribution of $0.51 per share for Q4 2024 [10][22] Portfolio and Investment Activity - As of December 31, 2024, the investment portfolio had a fair value of approximately $1.73 billion, with $1.29 billion in secured loans [13][10] - The company originated approximately $410.6 million in new commitments during Q4 2024 [14][10] - Total investment exits and repayments during the quarter amounted to approximately $280.6 million [15][10] Liquidity and Capital Resources - As of December 31, 2024, the company had approximately $496.6 million in available liquidity, including $9.6 million in unrestricted cash [18][10] - The KeyBank Credit Facility was expanded to $600 million during the quarter [20][10] - The company's leverage ratio was approximately 108% at the end of Q4 2024, down from 122% at the end of Q3 2024 [21][10]