Trio Petroleum Corp. (TPET) is a small-cap, publicly traded energy company engaged primarily in the discovery, extraction, and development of oil and natural gas. The company’s strategy is centered on building and advancing a focused portfolio of California upstream projects, with an emphasis on operational control and development of petroleum ...Trio Petroleum Corp. (TPET) is a small-cap, publicly traded energy company engaged primarily in the discovery, extraction, and development of oil and natural gas. The company’s strategy is centered on building and advancing a focused portfolio of California upstream projects, with an emphasis on operational control and development of petroleum resources through established project areas rather than broad, diversified exposure.
A key asset is the South Salinas project near Monterey, California. Trio Petroleum maintains an 85.75% operational stake in a large land position—about 9,300 acres—supporting ongoing evaluation and development activities typical of the region’s reservoirs. In addition, Trio holds a contractual right to acquire a complete (100%) working interest in the Union Avenue Field in Bakersfield, California. Together, these arrangements indicate a business model aimed at translating acreage and contractual interests into producing or development-stage assets.
From a products/services perspective, Trio’s “product” is crude oil and natural gas produced from its operated or controlled properties. Its core operational services revolve around exploration planning, drilling and completion execution (or oversight), production operations, reservoir management, and the operational work needed to keep production running and costs controlled. Because upstream oil and gas development is capital intensive, costs typically include land/asset payments, lease maintenance, drilling and completion expenditures, field operations, and midstream/logistics arrangements to move hydrocarbons to market.
Financially, the company’s provided trailing-twelve-month (TTM) metrics reflect a development-phase profile: profitability measures such as net and operating margins are negative in the snapshot, and free cash flow and cash flow ratios are also shown as negative or weak, which is common for companies in periods of investment or ramp-up. Other provided indicators (e.g., return on equity/assets and operating margins) suggest losses during the period, which would align with investing in drilling, facilities, and development activities rather than generating consistent positive operating cash flow.
Key people include Robin Ross, who serves as Chairman & CEO and is described as a co-founder of Trio Petroleum. The company was incorporated in 2021 and is headquartered in Malibu, California, while its principal operations are in Bakersfield, California. With a relatively small employee base (generally described as 11–50 employees), Trio likely relies on a combination of internal technical/management staff and external contractors/vendors for specialized field services—an approach frequently used by smaller exploration and production companies to manage fixed costs.
Overall, Trio Petroleum aims to grow value by progressing its California projects toward sustained production and improved financial performance, leveraging operational stakes and contractual acquisition opportunities to increase its effective working interests over time while navigating the inherent volatility and capital requirements of the upstream industry.
EPS estimate unavailable · Fiscal period ending 2026-07-31
D-7
5Y Trend (Revenue, Earnings, FCF)
Metric
Latest
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$398734
+87.0%
+70.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-7.3M
+24.4%
-35.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+43.8%
-55.6%
-292.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-1322.2%
+54.7%
-2.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-1826.3%
+59.6%
+20.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-3.6M
+27.8%
-165.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-908.0%
+61.4%
-55.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
4.1%
-57.4%
-100.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.58x
+164.4%
+4392.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
