A Business at a Glance
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Unless the context otherwise requires, throughout this Annual Report on Form 10-K, the words “TMTG,” “we,” “us,” “our” or the “Company” refer to Trump Media & Technology Group Corp. and its subsidiaries (as applicable). The mission of TMTG is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. TMTG has also launched Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles and a digital asset strategy--including a bitcoin treasury--to help ensure our financial freedom and protect against discrimination by financial institutions.
| Segment | 2025 | % of Total |
|---|---|---|
Advertising | $3M | 93% |
Subscription | $0M | 7% |
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 0 | - | - | - |
| Net Income | -712M | -712M | -401M | -58M |
| EPS | $-2.80 | $-2.80 | $-2.36 | $-0.67 |
| Free Cash Flow | 14M | 14M | -66M | -9.7M |
| ROIC | -18.4% | -55.5% | -19.8% | -10.7% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 0.58 | 0.58 | - | -0.06 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -573M | -573M | -186M | -33M |
| Operating Margin | 0.0% | - | - | - |
| ROE | -43.2% | -55.6% | - | - |
| Shares Outstanding | 254M | 254M | 170M | 220M |
| Metric | 2023 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | 9.7M | 49M | 43M | 43M |
| SG&A | 8.9M | 131M | 119M | 119M |
| EBIT | -33M | -186M | -573M | -573M |
| Op. Margin | N/A | N/A | N/A | 0.0% |
| Net Income | -58M | -401M | -712M | -712M |
| Net Margin | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | -10.7% | -19.8% | -55.5% | -18.4% |
| ROE | N/A | N/A | -55.6% | -43.2% |
| ROA | -18.7% | -42.7% | -39.9% | -27.1% |
| Cash Flow | ||||
| Op. Cash Flow | -9.7M | -61M | 15M | 15M |
| Free Cash Flow | -9.7M | -66M | 14M | 14M |
| Owner Earnings | -9.8M | -171M | -52M | -52M |
| CapEx | 2K | 5.0M | 574K | 574K |
| Maint. CapEx | 60K | 2.9M | 7.4M | 7.4M |
| Growth CapEx | 0 | 2.1M | 0 | 0 |
| D&A | 60K | 2.9M | 7.4M | 7.4M |
| CapEx/OCF | N/A | N/A | 3.9% | 3.9% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 2.9M | 54M | 54M |
| Buyback Yield | N/A | 0.0% | 1.5% | 2.1% |
| Stock-Based Comp | 0 | 107M | 59M | 59M |
| Debt Repayment | 1.0M | 0 | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | 1.7M | -764M | 510M | 815M |
| Cash & Equiv. | 2.6M | 170M | 135M | 135M |
| Long-Term Debt | 0 | 4.8M | 443K | 443K |
| Debt/Equity | -0.06 | N/A | 0.58 | 0.58 |
| Interest Coverage | -0.8 | -60.2 | -21.0 | -21.0 |
| Equity | -67M | N/A | 1.6B | 1.6B |
| Total Assets | 311M | 938M | 2.6B | 2.6B |
| Total Liabilities | 70M | N/A | 983M | 983M |
| Intangibles | 0 | 25M | 20M | 20M |
| Retained Earnings | -67M | -2.9B | -3.7B | -3.7B |
| Working Capital | -65M | 767M | 223M | 223M |
| Current Assets | 395K | 784M | 1.2B | 1.2B |
| Current Liabilities | 65M | 17M | 980M | 980M |
| Per Share Data | ||||
| EPS | -0.67 | -2.36 | -2.80 | -2.80 |
| Owner EPS | -0.04 | -1.01 | -0.20 | -0.20 |
| Book Value | -0.30 | N/A | 6.48 | 6.48 |
| Cash Flow/Share | -0.04 | -0.36 | 0.06 | -2.77 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 220.1M | 169.9M | 254.3M | 254.3M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -3.6 |
| P/FCF | N/A | N/A | 246.9 | 178.4 |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 2.1 | 1.5 |
| Price/Sales | N/A | N/A | N/A | N/A |
| FCF Yield | -0.2% | -1.1% | 0.4% | 0.6% |
| Market Cap | 3.9B | 6.1B | 3.5B | 2.5B |
| Avg. Price | 14.96 | 34.06 | 20.37 | 9.95 |
| Year-End Price | 17.73 | 36.08 | 13.77 | 9.95 |
Trump Media & Technology Group Corp. passes 1 of 9 quality checks, indicating weak fundamentals.
Total shareholder yield (buybacks) is 2.1%.
Trump Media & Technology Group Corp. (DJT) has a 5-year average return on invested capital (ROIC) of -28.7%. This is below average and may indicate limited pricing power.
Trump Media & Technology Group Corp. (DJT) has a market capitalization of $2.5B. It is classified as a mid-cap stock.
Trump Media & Technology Group Corp. (DJT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.12%.
Trump Media & Technology Group Corp. (DJT) operates in the Services-Computer Programming, Data Processing, Etc. industry, within the Technology sector.
Trump Media & Technology Group Corp. (DJT) generated $14 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Trump Media & Technology Group Corp. (DJT) has a debt-to-equity ratio of 0.58. This indicates moderate leverage.
Trump Media & Technology Group Corp. (DJT) reported earnings per share (EPS) of $-2.80 in its most recent fiscal year.
Trump Media & Technology Group Corp. (DJT) has a return on equity (ROE) of -55.6%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 3 years of financial data for Trump Media & Technology Group Corp. (DJT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Trump Media & Technology Group Corp. (DJT) has a book value per share of $6.48, based on its most recent annual SEC filing.