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Side-by-side financial comparison of TRUPANION, INC. (TRUP) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $376.9M, roughly 1.0× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 6.7%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $25.3M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% CAGR vs 5.8%).
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
TRUP vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $376.9M | $377.3M |
| Net Profit | — | $18.4M |
| Gross Margin | 17.3% | — |
| Operating Margin | 1.9% | 8.5% |
| Net Margin | — | 4.9% |
| Revenue YoY | 11.7% | 6.7% |
| Net Profit YoY | — | -42.1% |
| EPS (diluted) | $0.13 | $0.61 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $376.9M | $377.3M | ||
| Q3 25 | $366.9M | $386.3M | ||
| Q2 25 | $353.6M | $376.4M | ||
| Q1 25 | $342.0M | $350.5M | ||
| Q4 24 | $337.3M | $353.5M | ||
| Q3 24 | $327.5M | $365.1M | ||
| Q2 24 | $314.8M | $359.7M | ||
| Q1 24 | $306.1M | $337.1M |
| Q4 25 | — | $18.4M | ||
| Q3 25 | — | $51.5M | ||
| Q2 25 | — | $31.7M | ||
| Q1 25 | — | $27.4M | ||
| Q4 24 | — | $31.8M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | — | $28.2M | ||
| Q1 24 | — | $6.6M |
| Q4 25 | 17.3% | — | ||
| Q3 25 | 16.4% | — | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | 11.8% | — |
| Q4 25 | 1.9% | 8.5% | ||
| Q3 25 | 1.6% | 13.1% | ||
| Q2 25 | 0.7% | 11.3% | ||
| Q1 25 | -0.4% | 9.6% | ||
| Q4 24 | 0.1% | 9.0% | ||
| Q3 24 | 0.5% | 9.1% | ||
| Q2 24 | -1.7% | 12.4% | ||
| Q1 24 | -2.0% | 6.8% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | $0.13 | $0.61 | ||
| Q3 25 | $0.13 | $1.72 | ||
| Q2 25 | $0.22 | $1.07 | ||
| Q1 25 | $-0.03 | $0.92 | ||
| Q4 24 | $0.04 | $1.07 | ||
| Q3 24 | $0.03 | $0.95 | ||
| Q2 24 | $-0.14 | $0.96 | ||
| Q1 24 | $-0.16 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $370.7M | $286.2M |
| Total DebtLower is stronger | $101.8M | $671.5M |
| Stockholders' EquityBook value | $383.9M | $1.1B |
| Total Assets | $915.0M | $2.3B |
| Debt / EquityLower = less leverage | 0.27× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $370.7M | $286.2M | ||
| Q3 25 | $348.5M | $245.5M | ||
| Q2 25 | $319.6M | $251.8M | ||
| Q1 25 | $321.8M | $191.1M | ||
| Q4 24 | $307.4M | $247.5M | ||
| Q3 24 | $293.1M | $200.3M | ||
| Q2 24 | $277.2M | $178.6M | ||
| Q1 24 | $275.2M | $140.6M |
| Q4 25 | $101.8M | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | $127.5M | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $383.9M | $1.1B | ||
| Q3 25 | $368.6M | $1.0B | ||
| Q2 25 | $355.5M | $984.4M | ||
| Q1 25 | $333.7M | $931.7M | ||
| Q4 24 | $323.3M | $891.7M | ||
| Q3 24 | $320.2M | $899.2M | ||
| Q2 24 | $305.8M | $849.1M | ||
| Q1 24 | $303.4M | $820.7M |
| Q4 25 | $915.0M | $2.3B | ||
| Q3 25 | $880.2M | $2.3B | ||
| Q2 25 | $847.8M | $2.3B | ||
| Q1 25 | $837.2M | $2.2B | ||
| Q4 24 | $806.9M | $2.1B | ||
| Q3 24 | $816.1M | $2.1B | ||
| Q2 24 | $795.9M | $2.0B | ||
| Q1 24 | $789.5M | $1.9B |
| Q4 25 | 0.27× | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.39× | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $29.3M | $76.9M |
| Free Cash FlowOCF − Capex | $25.3M | $47.8M |
| FCF MarginFCF / Revenue | 6.7% | 12.7% |
| Capex IntensityCapex / Revenue | 1.0% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $75.4M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $76.9M | ||
| Q3 25 | $29.2M | $23.1M | ||
| Q2 25 | $15.0M | $99.0M | ||
| Q1 25 | $16.0M | $-603.0K | ||
| Q4 24 | $23.7M | $51.1M | ||
| Q3 24 | $15.3M | $66.0M | ||
| Q2 24 | $6.9M | $33.7M | ||
| Q1 24 | $2.4M | $26.7M |
| Q4 25 | $25.3M | $47.8M | ||
| Q3 25 | $23.9M | $-6.2M | ||
| Q2 25 | $12.0M | $67.4M | ||
| Q1 25 | $14.0M | $-52.7M | ||
| Q4 24 | $21.8M | $-32.4M | ||
| Q3 24 | $13.4M | $9.0M | ||
| Q2 24 | $4.0M | $-16.7M | ||
| Q1 24 | $-631.0K | $-37.9M |
| Q4 25 | 6.7% | 12.7% | ||
| Q3 25 | 6.5% | -1.6% | ||
| Q2 25 | 3.4% | 17.9% | ||
| Q1 25 | 4.1% | -15.0% | ||
| Q4 24 | 6.5% | -9.2% | ||
| Q3 24 | 4.1% | 2.5% | ||
| Q2 24 | 1.3% | -4.6% | ||
| Q1 24 | -0.2% | -11.2% |
| Q4 25 | 1.0% | 7.7% | ||
| Q3 25 | 1.4% | 7.6% | ||
| Q2 25 | 0.8% | 8.4% | ||
| Q1 25 | 0.6% | 14.9% | ||
| Q4 24 | 0.6% | 23.6% | ||
| Q3 24 | 0.6% | 15.6% | ||
| Q2 24 | 0.9% | 14.0% | ||
| Q1 24 | 1.0% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
