Recent News
Aug 4, 2026 — Trupanion announced integration with Digitail to reduce paperwork and speed clinic workflows; June 22, 2026 — company data showed pet anxiety claims materially higher year-over-year; June 19, 2026 — Trupanion published seasonal guidance on summer pet hazards; June 18, 2026 — Trupanion named winners of the 2026 Veterinary Appreciation Day awards; May 26, 2026 — the company reported a milestone exceeding $4 billion in paid claims.
Technical Analysis
Directional indicators: ADX sits at 16.65, indicating no strong trend while DI+ at 28.10 (dip & reversal) and DI- at 21.82 (peak & reversal) together signal a bullish turn in directional momentum, though the underlying trend lacks strength.
MACD: MACD equals 0.26 with a signal line at 0.17 and a dip & reversal pattern; MACD currently sits above its signal line, a bullish momentum confirmation that supports short-term upward bias.
MRO: The MRO reads -5.17 (dip & reversal), indicating price sits below the model target and therefore carries potential to move higher toward target levels if momentum persists.
RSI: RSI at 53.6 with a dip & reversal shows rising relative strength without overbought conditions, consistent with measured upside rather than an extended surge.
Price vs. averages and bands: Last close $26.99 sits above the 20-day average $25.15, the 50-day average $24.59, and both the 12- / 26-day EMAs ($25.65 / $25.37), signaling short-term strength; price remains below the 200-day average $29.72, placing medium-term resistance near that level. Price trades just above the 1x upper Bollinger band ($26.54) and below the 2x upper band ($27.92), indicating proximity to the short-term upper volatility band.
Ichimoku & support: Tenkan/Kijun at $26.38 with Senkou span values around $23.70–$25.30 puts the current price above the cloud midpoint, offering additional short-term technical support; the super trend lower support sits at $24.82. Volume today (621,499) exceeds the 10-day average (564,578) and the 200-day average (424,571), giving conviction to the recent directional moves.
Fundamental Analysis
Top-line and growth: Trailing total revenue stands at $392,934,000 with revenue growth of 2.31% year-to-date while QoQ revenue growth accelerated 21.22% and revenue growth YoY contracted 31.68%. The QoQ pickup alongside a YoY contraction suggests recent operational acceleration after a weaker prior-year comparison.
Profitability: Operating margin equals 7.43% and operating margin QoQ improved by 4.14 percentage points, while EBIT margin sits at 2.34% with an EBIT margin QoQ improvement of 14.91% but an EBIT margin YoY decline of 41.77%. Those margin gains sequentially support the near-term valuation case even as annual comparisons remain depressed.
Earnings and cash flow: Reported EPS equaled $0.86 versus an estimate of $0.94, an EPS shortfall of $0.08 or a -8.51% surprise. Free cash flow totaled $19,159,000, yielding 1.74% (free cash flow yield), and free cash flow QoQ showed strong improvement. Cash and short-term investments total $398,491,000 and operating cash flow ended the period at $12,246,000, leaving liquidity ample relative to $106,909,000 of total debt; the cash ratio stands near 0.98 and current ratio at 1.77.
Capital structure and coverage: Debt to equity measures ~0.26 and debt to EBITDA runs near 8.30x while interest coverage equals 5.02x. The leverage profile remains manageable in absolute dollars but the elevated debt-to-EBITDA figure implies earnings must remain stable to meaningfully reduce leverage over time.
Returns and valuation: Return on equity measures roughly 1.67% and return on assets about 0.74%, both low but improving sequentially. WMDST values the stock as trading at a forward P/E of 22.85 with a trailing P/E of 29.18 and an enterprise multiple of 62.86; book value per share sits near $9.34 and the mean analyst price target reported in the data equals $23.86, below the last close. The EPS miss versus estimate and elevated enterprise multiple temper the valuation case despite stronger QoQ margin and cash-flow trends.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-05 |
| NEXT REPORT DATE: | 2026-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 182.9 M |
| Operating Cash Flow | $ 12.2 M | |
| Capital Expenditures | $ -1.82 M | |
| Change In Working Capital | $ 676.0 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -4.57 M | |
| End Period Cash Flow | $ 178.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 392.9 M | |
| Forward Revenue | $ 679.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 327.8 M | |
| Depreciation | $ 3.7 M | |
| Depreciation and Amortization | $ 3.7 M | |
| Research and Development | $ 12.8 M | |
| Total Operating Expenses | $ 363.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 65.1 M | |
| EBITDA | $ 12.9 M | |
| EBIT | $ 9.2 M | |
| Operating Income | $ 29.2 M | |
| Interest Income | — | |
| Interest Expense | $ 1.8 M | |
| Net Interest Income | $ -1.83 M | |
| Income Before Tax | $ 7.4 M | |
| Tax Provision | $ 542.0 K | |
| Tax Rate | 7.351 % | |
| Net Income | $ 6.8 M | |
| Net Income From Continuing Operations | $ 6.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.94 | |
| EPS Actual | $ 0.86 | |
| EPS Difference | $ -0.08 | |
| EPS Surprise | -8.511 % | |
| Forward EPS | $ 1.08 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 930.8 M | |
| Intangible Assets | $ 62.0 M | |
| Net Tangible Assets | $ 347.7 M | |
| Total Current Assets | $ 719.4 M | |
| Cash and Short-Term Investments | $ 398.5 M | |
| Cash | $ 149.4 M | |
| Net Receivables | $ 302.2 M | |
| Inventory | — | |
| Long-Term Investments | $ 47.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 12.0 M | |
| Short-Term Debt | $ 10.0 M | |
| Total Current Liabilities | $ 405.5 M | |
| Net Debt | — | |
| Total Debt | $ 106.9 M | |
| Total Liabilities | $ 521.1 M | |
| EQUITY | ||
| Total Equity | $ 409.7 M | |
| Retained Earnings | $ -194.74 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.34 | |
| Shares Outstanding | 43.872 M | |
| Revenue Per-Share | $ 8.96 | |
| VALUATION | Market Capitalization | $ 1.1 B |
| Enterprise Value | $ 809.5 M | |
| Enterprise Multiple | 62.863 | |
| Enterprise Multiple QoQ | -24.112 % | |
| Enterprise Multiple YoY | -38.65 % | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 2.06 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.272 | |
| Asset To Liability | 1.786 | |
| Debt To Capital | 0.207 | |
| Debt To Assets | 0.115 | |
| Debt To Assets QoQ | -3.194 % | |
| Debt To Assets YoY | -14.931 % | |
| Debt To Assets IPRWA | — | |
| Debt To Equity | 0.261 | |
| Debt To Equity QoQ | -5.774 % | |
| Debt To Equity YoY | -18.964 % | |
| Debt To Equity IPRWA | — | |
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.688 | |
| Price To Book QoQ | -13.722 % | |
| Price To Book YoY | -53.823 % | |
| Price To Book IPRWA | — | |
| Price To Earnings (P/E) | 29.185 | |
| Price To Earnings QoQ | -19.269 % | |
| Price To Earnings YoY | -86.767 % | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | 2.846 | |
| Price To Sales (P/S) | 2.802 | |
| Price To Sales QoQ | -12.501 % | |
| Price To Sales YoY | -52.113 % | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | 22.853 | |
| Forward PE/G | 2.228 | |
| Forward P/S | 1.62 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 7.584 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.424 | |
| Asset Turnover Ratio QoQ | 1.444 % | |
| Asset Turnover Ratio YoY | 1.094 % | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | 1.295 | |
| Receivables Turnover Ratio QoQ | 2.272 % | |
| Receivables Turnover Ratio YoY | 6.731 % | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 70.479 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 66.973 | |
| Cash Conversion Cycle Days QoQ | -1.217 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.252 | |
| CapEx To Revenue | -0.005 | |
| CapEx To Depreciation | -0.497 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 506.6 M | |
| Net Invested Capital | $ 516.6 M | |
| Invested Capital | $ 516.6 M | |
| Net Tangible Assets | $ 347.7 M | |
| Net Working Capital | $ 314.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.983 | |
| Current Ratio | 1.774 | |
| Current Ratio QoQ | 2.75 % | |
| Current Ratio YoY | 5.003 % | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.302 | |
| Cost Of Debt | 1.57 % | |
| Interest Coverage Ratio | 5.025 | |
| Interest Coverage Ratio QoQ | 20.305 % | |
| Interest Coverage Ratio YoY | 30.028 % | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | 0.03 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 3.507 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.002 % | |
| Revenue Growth | 2.314 % | |
| Revenue Growth QoQ | 21.215 % | |
| Revenue Growth YoY | -31.68 % | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | 10.256 % | |
| Earnings Growth QoQ | -97.949 % | |
| Earnings Growth YoY | -101.231 % | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | 16.576 % | |
| Gross Margin QoQ | 3.529 % | |
| Gross Margin YoY | 6.894 % | |
| Gross Margin IPRWA | — | |
| EBIT Margin | 2.343 % | |
| EBIT Margin QoQ | 14.909 % | |
| EBIT Margin YoY | -41.774 % | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | 7.426 % | |
| Return On Sales QoQ | 4.137 % | |
| Return On Sales YoY | 18.494 % | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 19.2 M | |
| Free Cash Flow Yield | 1.74 % | |
| Free Cash Flow Yield QoQ | 55.635 % | |
| Free Cash Flow Yield YoY | 198.969 % | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | 39.369 % | |
| Free Cash Growth QoQ | -186.056 % | |
| Free Cash Growth YoY | -378.108 % | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | 2.805 | |
| Cash Flow Margin | 3.117 % | |
| Cash Flow To Earnings | 1.793 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.738 % | |
| Return On Assets QoQ | 38.983 % | |
| Return On Assets YoY | -33.93 % | |
| Return On Assets IPRWA | — | |
| Return On Capital Employed (ROCE) | 1.752 % | |
| Return On Equity (ROE) | 0.017 | |
| Return On Equity QoQ | 34.871 % | |
| Return On Equity YoY | -37.047 % | |
| Return On Equity IPRWA | — | |
| DuPont ROE | 1.698 % | |
| Return On Invested Capital (ROIC) | 1.651 % | |
| Return On Invested Capital QoQ | 29.694 % | |
| Return On Invested Capital YoY | -38.897 % | |
| Return On Invested Capital IPRWA | — | |