Trevi Therapeutics, Inc.
TRVI Nasdaq Pharmaceutical Preparations Financials FY2018โFY2025
Last close ยท Oct 23, 2026
$12.61
2.6%
Revenue
Total sales reported in the income statement.
โ
vs prior year
Operating margin
Operating income as a share of revenue.
โ
Net income
Profit after all expenses, interest and tax.
โ$42.8M
Free cash flow
Cash from operations minus capital spending.
โ$42.1M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$0.34 EPS (TTM)
What Trevi Therapeutics, Inc. does
No business description yet.
- Legal name
- Trevi Therapeutics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 17, 2026
- Accession ยท CIK
- 0001193125-26-110783
0001563880
Revenue and margins
Trevi Therapeutics, Inc. had โ of revenue in fiscal 2025.
FY18
Revenue โ
FY19
Revenue โ
FY20
Revenue โ
FY21
Revenue โ
FY22
Revenue โ
FY23
Revenue โ
FY24
Revenue โ
FY25
Revenue โ
FY18
Gross โ
Operating โ
Net โ
FCF โ
FY19
Gross โ
Operating โ
Net โ
FCF โ
FY20
Gross โ
Operating โ
Net โ
FCF โ
FY21
Gross โ
Operating โ
Net โ
FCF โ
FY22
Gross โ
Operating โ
Net โ
FCF โ
FY23
Gross โ
Operating โ
Net โ
FCF โ
FY24
Gross โ
Operating โ
Net โ
FCF โ
FY25
Gross โ
Operating โ
Net โ
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY18
Net income โ$20.5M
FY19
Net income โ$26.1M
FY20
Net income โ$32.8M
FY21
Net income โ$33.9M
FY22
Net income โ$29.2M
FY23
Net income โ$29.1M
FY24
Net income โ$47.9M
FY25
Net income โ$42.8M
Q3 '23
Net income โ$7.7M
Q4 '23
Net income โ$7.8M
Q1 '24
Net income โ$10.9M
Q2 '24
Net income โ$12.4M
Q3 '24
Net income โ$13.2M
Q4 '24
Net income โ$11.4M
Q1 '25
Net income โ$10.3M
Q2 '25
Net income โ$12.3M
Q3 '25
Net income โ$11.8M
Q4 '25
Net income โ$8.3M
Q1 '26
Net income โ$13.2M
Q2 '26
Net income โ$17.8M
FY18
Diluted EPS โ$58.44
FY19
Diluted EPS โ$2.28
FY20
Diluted EPS โ$1.81
FY21
Diluted EPS โ$1.49
FY22
Diluted EPS โ$0.45
FY23
Diluted EPS โ$0.29
FY24
Diluted EPS โ$0.47
FY25
Diluted EPS โ$0.32
Q3 '23
Diluted EPS โ$0.08
Q4 '23
Diluted EPS โ$0.08
Q1 '24
Diluted EPS โ$0.11
Q2 '24
Diluted EPS โ$0.12
Q3 '24
Diluted EPS โ$0.13
Q4 '24
Diluted EPS โ$0.11
Q1 '25
Diluted EPS โ$0.09
Q2 '25
Diluted EPS โ$0.09
Q3 '25
Diluted EPS โ$0.08
Q4 '25
Diluted EPS โ$0.06
Q1 '26
Diluted EPS โ$0.09
Q2 '26
Diluted EPS โ$0.11
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY18
Return on capital โ
Return on equity โ
Return on assets โ195.2%
FY19
Return on capital โ
Return on equity โ
Return on assets โ73.9%
FY20
Return on capital โ
Return on equity โ80.1%
Return on assets โ61.2%
FY21
Return on capital โ
Return on equity โ153.0%
Return on assets โ79.3%
FY22
Return on capital โ
Return on equity โ46.8%
Return on assets โ36.1%
FY23
Return on capital โ
Return on equity โ30.6%
Return on assets โ27.4%
FY24
Return on capital โ
Return on equity โ52.6%
Return on assets โ47.8%
FY25
Return on capital โ
Return on equity โ30.2%
Return on assets โ28.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$42.1M in fiscal 2025, โ of revenue. Cash from operations minus capital spending.
FY18
Free cash flow โ$18.4M
FY19
Free cash flow โ$23.1M
FY20
Free cash flow โ$29.0M
FY21
Free cash flow โ
FY22
Free cash flow โ$28.3M
FY23
Free cash flow โ$31.8M
FY24
Free cash flow โ$38.3M
FY25
Free cash flow โ$42.1M
Q3 '23
Free cash flow โ$7.3M
Q4 '23
Free cash flow โ$6.4M
Q1 '24
Free cash flow โ
Q2 '24
Free cash flow โ
Q3 '24
Free cash flow โ$9.6M
Q4 '24
Free cash flow โ$9.6M
Q1 '25
Free cash flow โ
Q2 '25
Free cash flow โ
Q3 '25
Free cash flow โ$10.9M
Q4 '25
Free cash flow โ$7.6M
Q1 '26
Free cash flow โ$16.8M
Q2 '26
Free cash flow โ$17.6M
FY18
Cash from operations โ$18.3M
Capital spending $0.2M
FY19
Cash from operations โ$23.1M
Capital spending $0.0M
FY20
Cash from operations โ$29.0M
Capital spending $0.0M
FY21
Cash from operations โ$28.9M
Capital spending โ
FY22
Cash from operations โ$28.2M
Capital spending $0.2M
FY23
Cash from operations โ$31.7M
Capital spending $0.1M
FY24
Cash from operations โ$38.3M
Capital spending $0.0M
FY25
Cash from operations โ$42.1M
Capital spending $0.0M
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$7.3M
Capital spending $0.0M
Q4 '23
Cash from operations โ$6.4M
Capital spending $0.0M
Q1 '24
Cash from operations โ$10.5M
Capital spending โ
Q2 '24
Cash from operations โ$8.7M
Capital spending โ
Q3 '24
Cash from operations โ$9.6M
Capital spending $0.0M
Q4 '24
Cash from operations โ$9.6M
Capital spending $0.0M
Q1 '25
Cash from operations โ$13.5M
Capital spending โ
Q2 '25
Cash from operations โ$10.1M
Capital spending โ
Q3 '25
Cash from operations โ$10.9M
Capital spending $0.0M
Q4 '25
Cash from operations โ$7.6M
Capital spending $0.0M
Q1 '26
Cash from operations โ$16.7M
Capital spending $0.1M
Q2 '26
Cash from operations โ$17.4M
Capital spending $0.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
Trevi Therapeutics, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 32.1%.
FY18
Dividends โ
Buybacks โ
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY18
Diluted shares 0.00B
FY19
Diluted shares 0.01B
FY20
Diluted shares 0.02B
FY21
Diluted shares 0.02B
FY22
Diluted shares 0.06B
FY23
Diluted shares 0.10B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.13B
Balance sheet
Cash, debt and the ratios that show how comfortably Trevi Therapeutics, Inc. can carry it.
FY18
Cash $7.2M
Debt โ
FY19
Cash $57.3M
Debt โ
FY20
Cash $45.0M
Debt โ
FY21
Cash $36.8M
Debt โ
FY22
Cash $121M
Debt โ
FY23
Cash $83.0M
Debt โ
FY24
Cash $108M
Debt โ
FY25
Cash $188M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $36.8M | $121M | $83.0M | $108M | $188M |
| Interest coverage | โ27.0x | โ25.7x | โ86.8x | โ12,881.0x | โ |
| Current ratio | 3.0x | 9.2x | 15.0x | 10.4x | 19.7x |
| Quick ratio | 3.0x | 9.2x | 15.0x | 10.4x | 19.7x |
| Total assets | $38.5M | $123M | $89.4M | $111M | $193M |
| Total liabilities | $21.4M | $15.6M | $6.9M | $11.3M | $10.2M |
| Shareholders' equity | $17.1M | $107M | $82.5M | $99.6M | $183M |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 6 | โ / 6 | โ / 6 | โ / 6 | โ / 6 | โ / 6 | โ / 6 |
| Accruals ratio | โ21.4% | โ8.4% | โ7.0% | โ11.7% | โ1.2% | 2.5% | โ9.6% | โ0.4% |
| Altman Z'' | โ42.79 | 7.25 | โ7.69 | โ15.86 | 5.88 | 7.37 | 3.59 | 17.77 |
8 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Research and development | $14.1M | $19.3M | $22.3M | $23.0M | $19.8M | $23.7M | $39.4M | $33.5M |
| Operating income | โ$18.4M | โ$26.6M | โ$32.5M | โ$32.5M | โ$29.9M | โ$33.9M | โ$51.5M | โ$49.3M |
| Interest expense | $0.2M | โ | $0.5M | $1.2M | $1.2M | $0.4M | $0.0M | $0.0M |
| Pretax income | โ$20.7M | โ$26.1M | โ$32.8M | โ$34.0M | โ$29.2M | โ$29.1M | โ$47.9M | โ$42.8M |
| Income tax | โ$0.1M | โ$0.0M | โ$0.0M | โ$0.0M | โ$0.0M | โ$0.0M | โ$0.0M | โ$0.1M |
| Net income | โ$20.5M | โ$26.1M | โ$32.8M | โ$33.9M | โ$29.2M | โ$29.1M | โ$47.9M | โ$42.8M |
| Net income to common | โ$25.6M | โ$26.8M | โ$32.8M | โ | โ | โ | โ | โ |
| Diluted EPS | โ$58.44 | โ$2.28 | โ$1.81 | โ$1.49 | โ$0.45 | โ$0.29 | โ$0.47 | โ$0.32 |
| Diluted shares | 0.00B | 0.01B | 0.02B | 0.02B | 0.06B | 0.10B | 0.10B | 0.13B |
| Cash flow | ||||||||
| Cash from operations | โ$18.3M | โ$23.1M | โ$29.0M | โ$28.9M | โ$28.2M | โ$31.7M | โ$38.3M | โ$42.1M |
| Capital expenditure | $0.2M | $0.0M | $0.0M | โ | $0.2M | $0.1M | $0.0M | $0.0M |
| Free cash flow | โ$18.4M | โ$23.1M | โ$29.0M | โ | โ$28.3M | โ$31.8M | โ$38.3M | โ$42.1M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.1M | $0.0M | $0.1M | $0.1M | $0.1M |
| Stock-based compensation | $0.5M | $1.1M | $2.4M | $2.5M | $2.3M | $2.2M | $3.6M | $5.2M |
| Balance sheet | ||||||||
| Cash and short-term investments | $7.2M | $57.3M | $45.0M | $36.8M | $121M | $83.0M | $108M | $188M |
| Finance lease liabilities | โ | โ | โ | โ | โ | $0.2M | $0.0M | โ |
| Current assets | $8.8M | $59.6M | $46.3M | $38.0M | $123M | $87.5M | $109M | $192M |
| Current liabilities | $2.7M | $5.2M | $5.6M | $12.7M | $13.4M | $5.8M | $10.5M | $9.7M |
| Property and equipment, net | $0.1M | $0.1M | $0.1M | $0.1M | $0.2M | $0.2M | $0.2M | $0.2M |
| Total assets | $10.5M | $60.0M | $47.1M | $38.5M | $123M | $89.4M | $111M | $193M |
| Total liabilities | $120M | $5.5M | $19.8M | $21.4M | $15.6M | $6.9M | $11.3M | $10.2M |
| Shareholders' equity | โ$109M | $54.5M | $27.3M | $17.1M | $107M | $82.5M | $99.6M | $183M |
| Returns | ||||||||
| Return on capital employed | โ234.5% | โ48.6% | โ78.1% | โ126.1% | โ27.3% | โ40.6% | โ51.3% | โ26.9% |
| Return on equity | โ | โ | โ80.1% | โ153.0% | โ46.8% | โ30.6% | โ52.6% | โ30.2% |
| Return on assets | โ195.2% | โ73.9% | โ61.2% | โ79.3% | โ36.1% | โ27.4% | โ47.8% | โ28.1% |
| Return on tangible equity | โ | โ49.0% | โ120.1% | โ198.8% | โ27.1% | โ35.2% | โ48.1% | โ23.3% |
| Growth | ||||||||
| Share count change | โ | 2,581.9% | 53.9% | 26.5% | 182.6% | 53.4% | 3.0% | 32.1% |
| Financial health | ||||||||
| Interest coverage | โ105.8x | โ | โ71.2x | โ27.0x | โ25.7x | โ86.8x | โ12,881.0x | โ |
| Current ratio | 3.3x | 11.5x | 8.3x | 3.0x | 9.2x | 15.0x | 10.4x | 19.7x |
| Quick ratio | 3.3x | 11.5x | 8.3x | 3.0x | 9.2x | 15.0x | 10.4x | 19.7x |
| Quality scores | ||||||||
| Altman Z'' | โ42.8 | 7.2 | โ7.7 | โ15.9 | 5.9 | 7.4 | 3.6 | 17.8 |
| Accruals ratio | โ21.4% | โ8.4% | โ7.0% | โ11.7% | โ1.2% | 2.5% | โ9.6% | โ0.4% |
Source: SEC EDGAR XBRL filings (CIK 0001563880). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.