Download PDF

1. Company Snapshot

1.a. Company Description

Triumph Financial Inc., a financial and technology company, focuses on payments, factoring, and banking.It operates through a portfolio of brands, including TriumphPay, Triumph, and TBK Bank.The company offers cash flow management services for the trucking industry comprising invoice factoring, fuel discount programs, truck and cargo insurance, and equipment finance, banking, and treasury services.


It also provides factoring products and services; insurance products and services; and equipment finance and asset based lending products and services.The company was formerly known as Triumph Bancorp, Inc.and changed its name to Triumph Financial Inc.


in December 2022.Triumph Financial Inc.was founded in 1981 and is headquartered in Dallas, Texas.

Show Full description

1.b. Last Insights on TFIN

Triumph Financial, Inc.'s recent performance has been impacted by several factors. The company's Q3 2025 earnings beat estimates, with quarterly earnings of $0.19 per share. Additionally, the company has been expanding its intelligence offering for brokers to include pricing, performance, and capacity. Furthermore, NFI has expanded its relationship with Triumph to include payment and audit solutions. Institutional investors have also shown confidence in the company, with Bank of New York Mellon Corp acquiring 3,974 shares. A quarterly cash dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock was also announced.

1.c. Company Highlights

2. Triumph Financial's Q3 2025 Earnings: A Strong Upside in Revenue and EPS

Triumph Financial, Inc. reported a robust third-quarter 2025, with actual EPS coming in at $0.19, significantly beating analyst estimates of $0.12. The company's revenue growth was also noteworthy, driven by its transportation revenue, factoring segment, and intelligence segment. The restructuring efforts aimed at reducing expenses and improving efficiency are on track, with a 5% reduction in the expense base expected, mostly in the fourth quarter. The company's focus on improving efficiency and managing expenses is expected to continue into 2026, with a target of achieving $96.5 million in quarterly expenses.

Publication Date: Oct -27

📋 Highlights
  • Expense Reduction & Revenue Growth Targets: Achieved 5% expense base cut in Q4, targeting 20% annual transportation revenue growth and $96.5M quarterly expenses by 2026.
  • LoadPay Performance: Generates $750 revenue per account with 70% rapid linking rate, positioned to evolve into a business companion with embedded intelligence.
  • Technology Investment: Spent $110M in Q3, 3–4x JPMorgan’s expense base, leveraging AI to automate internal workflows and drive growth.
  • Factoring Segment Growth: Mid-single-digit to high-digit revenue growth last year, with a 20% growth target in 2026 via automation and expanded services.
  • Network Competitive Advantage: Controls 47% of audit payments and 64% of combined audit/payments invoices, creating a high barrier to entry for competitors.

Revenue Growth and Segment Performance

The factoring segment saw mid-single-digit to high-digit revenue growth over the last year, with a target of 20% growth next year. The intelligence segment has an integrated product, which is expected to drive growth in 2026, with a $10,000,000 run rate expected to grow. The payments business has seen significant growth, with all of C.H. Robinson's and RxO's payments volume onboarded. The company's LoadPay product, a digital banking account, has seen significant growth, with $750 of revenue per account, expected to increase as the product evolves.

Expense Management and Efficiency

The company is focused on improving efficiency and managing expenses, with a greater focus on the expense side of the equation in 2026. The expense reduction initiative is expected to continue throughout the year, with plans to find ways to increase efficiency. The company's technology investment is expected to drive growth, with $110 million spent this quarter, which is three to four times what JPMorgan spends on its expense base.

Valuation and Growth Prospects

With a P/E Ratio of 142.09 and an EV/EBITDA of 32.91, the company's valuation is relatively high, indicating that the market has already priced in significant growth prospects. Analysts estimate next year's revenue growth at 14.7%, which is lower than the company's target of 20%. The company's ROE is 1.1%, and ROIC is 0.92%, indicating that the company's profitability is relatively low. However, the company's strong revenue growth and improving efficiency are expected to drive profitability in the long term.

Capital Allocation and Shareholder Returns

The company has a new buyback plan in place, which will be used opportunistically to return earnings to shareholders. The company's balance sheet is well-structured, with a Net Debt / EBITDA ratio of -1.72, indicating that the company has a significant cash position. The company does not plan to retire its sub-debt or preferred stock in the near term.

3. NewsRoom

Card image cap

SouthState Bank (NYSE:SSB) vs. Triumph Financial (NYSE:TFIN) Head to Head Analysis

Dec -04

Source: defenseworld.net

Card image cap

Triumph Announces Dividend for 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock

Nov -28

Source: globenewswire.com

Card image cap

Bank of New York Mellon Corp Acquires 3,974 Shares of Triumph Financial, Inc. $TFIN

Nov -21

Source: defenseworld.net

Card image cap

Triumph to Present at the Stephens Annual Investment Conference on November 18, in Nashville, Tennessee

Nov -14

Source: globenewswire.com

Card image cap

NFI Expands Relationship with Triumph, Integrating Payments and Audit Solutions

Nov -12

Source: globenewswire.com

Card image cap

Envestnet Asset Management Inc. Acquires 7,635 Shares of Triumph Financial, Inc. $TFIN

Nov -11

Source: defenseworld.net

Card image cap

Triumph Earns Top 5 Spot on the 2026 FreightTech 25

Oct -23

Source: globenewswire.com

Card image cap

Triumph Financial: One Of The Last 8.5% Yielding Preferred Shares Remaining

Oct -20

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.80%)

6. Segments

Banking

Expected Growth: 11.5%

Triumph Financial, Inc.'s 11.5% growth in banking is driven by increasing demand for digital payment solutions, strategic acquisitions, and expansion into new markets. Additionally, the company's focus on customer experience, cost savings initiatives, and a favorable interest rate environment have contributed to its growth momentum.

Factoring

Expected Growth: 12.5%

Triumph Financial, Inc.'s 12.5% growth in factoring is driven by increasing demand from small and medium-sized businesses seeking alternative financing options, expansion into new industries, and strategic partnerships. Additionally, the company's investment in digital platforms and process automation has improved operational efficiency, enabling it to scale quickly and capitalize on market opportunities.

Payments

Expected Growth: 11.8%

Triumph Financial, Inc.'s 11.8% growth in payments is driven by increasing adoption of digital payment solutions, expansion into new markets, and strategic partnerships. Additionally, the company's focus on improving customer experience, investing in technology, and optimizing operational efficiency have contributed to this growth.

Corporate

Expected Growth: 12.2%

Triumph Financial, Inc.'s 12.2% corporate growth is driven by strategic acquisitions, expansion into new markets, and increased demand for its financial services. Additionally, effective cost management, improved operational efficiency, and a strong online presence have contributed to the company's growth momentum.

7. Detailed Products

Factoring

Triumph Financial, Inc. offers factoring services that provide immediate access to cash for businesses by purchasing their outstanding invoices.

Asset-Based Lending

Triumph Financial, Inc. provides asset-based lending solutions that use a company's assets as collateral for a loan.

Equipment Financing

Triumph Financial, Inc. offers equipment financing options that allow businesses to acquire new equipment while preserving capital.

Real Estate Lending

Triumph Financial, Inc. provides real estate lending solutions for commercial property owners and developers.

Supply Chain Finance

Triumph Financial, Inc. offers supply chain finance solutions that optimize cash flow and reduce costs for buyers and suppliers.

8. Triumph Financial, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Triumph Financial, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's strong brand recognition and customer loyalty.

Bargaining Power Of Customers

Triumph Financial, Inc. has a large customer base, but the bargaining power of customers is high due to the availability of alternative financial services providers.

Bargaining Power Of Suppliers

Triumph Financial, Inc. has a diversified supplier base, which reduces the bargaining power of suppliers.

Threat Of New Entrants

The threat of new entrants in the financial services industry is moderate, as there are barriers to entry, but new fintech companies are emerging.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players, which increases the intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 32.27%
Debt Cost 9.94%
Equity Weight 67.73%
Equity Cost 9.94%
WACC 9.94%
Leverage 47.65%

11. Quality Control: Triumph Financial, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Bank First

A-Score: 6.8/10

Value: 3.4

Growth: 6.6

Quality: 7.6

Yield: 6.0

Momentum: 9.5

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Citizens & Northern

A-Score: 6.6/10

Value: 6.0

Growth: 4.9

Quality: 7.4

Yield: 8.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

View Full Report
Stock-Card
Hawthorn Bancshares

A-Score: 6.2/10

Value: 6.1

Growth: 5.2

Quality: 6.0

Yield: 5.0

Momentum: 8.5

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
Flushing Financial

A-Score: 5.6/10

Value: 8.3

Growth: 2.7

Quality: 3.9

Yield: 10.0

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
ACNB

A-Score: 5.6/10

Value: 4.5

Growth: 5.2

Quality: 5.8

Yield: 6.0

Momentum: 5.0

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Triumph Financial

A-Score: 3.3/10

Value: 2.0

Growth: 3.6

Quality: 4.9

Yield: 4.0

Momentum: 1.0

Volatility: 4.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

-1.74$

Current Price

61.41$

Potential

-102.83%

Expected Cash-Flows