Added to YB: 2026-03-04
Pitch date: 2026-03-02
TRUP [bullish]
Trupanion, Inc.
+5.13%
current return
Author Info
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Company Info
Trupanion, Inc., together with its subsidiaries, provides medical insurance for cats and dogs on subscription basis in the United States, Canada, Continental Europe, and Australia.
Market Cap
$1.2B
Pitch Price
$26.12
Price Target
N/A
Dividend
N/A
EV/EBITDA
36.49
P/E
58.98
EV/Sales
0.79
Sector
Insurance
Category
turnaround
Trupanion: Mispriced Coverage
TRUP: Pet insurer w/ cost-plus model targeting 70% payouts, 15% subscription-adjusted op margin, 30-40% IRR on pet acquisitions. Growth slowed from 30-40% to mid-teens post-COVID but margin recovering after pricing lag. EV <1x subscription rev at $27/share despite structurally sound model in underpenetrated category. Mgmt guides 13-15% FY26 subscription growth. Risk: sustained slowdown below 10% or margin deterioration. Thesis: if 15% growth & margin discipline hold, valuation mispriced.
Read full article (4 min)