Trump Media & Technology Group
DJT on Nasdaq. Trump Media sells social media, streaming, and financial services to Americans. Market value $2.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $0.35 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 55 of 100. Price score: 1 of 100. Our list needs 70 on quality and 60 on price.
$8.63 a share, 24% above its 1-year low
Over the past year the price has ranged from $6.96 to $17.97.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $8 million in the past 12 months, $14 million in the year to December 2025.
| Revenue | |||||
| Revenue | n/a | $1m | $4m | $4m | $4m |
| Operating margin | |||||
| Operating margin | n/a | -1580.9% | -386.5% | -5140.9% | -15560.8% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | 0.58 |
| Shares outstanding | |||||
| Shares outstanding | n/a | 0.09bn | 0.22bn | 0.28bn | 0.28bn |
Health checks
- Free cash flow positive1 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 8 checks we could run
- Profit backed by cash (accruals)No
- Debt0.58× equity
- Revenue growth, five yearsStrong, 35.8% a year
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $2 million last quarter, up 89% on a year ago.
- A loss of $238 million, compared with a loss of $20 million a year ago.
- It loses 20956 cents on each $1 of sales, compared with 4092 cents a year earlier.
- Spare cash over the past 12 months: $8 million. A year earlier it spent $41 million more than it brought in.
- 15% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $755 million more than cash. A year ago it had $400 million more cash than debt.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1m |
| December 2024 | $1m |
| March 2025 | $821,200 |
| June 2025 | $883,300 |
| September 2025 | $972,900 |
| December 2025 | $1m |
| March 2026 | $871,200 |
| June 2026 | $2m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$19m |
| December 2024 | -$38m |
| March 2025 | -$32m |
| June 2025 | -$20m |
| September 2025 | -$55m |
| December 2025 | -$606m |
| March 2026 | -$406m |
| June 2026 | -$238m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 February 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
None of the long-term investors we follow own it. 327 funds in all.
Largest holders overall
- BlackRock$102mAdded
- Vanguard Portfolio Management$57m
- Vanguard Capital Management$54mCut
- Geode Capital Management$34mAdded
- State Street$32mAdded
- Charles Schwab Investment Management$24mAdded
- Yorkville Advisors Global, LP$18mCut
- UBS Group AG$17mAdded
- Clear Street Group$13mAdded
- Cantor Fitzgerald, L. P.$13mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- TRUMP DONALD Jat least 41.5%−11.4 pts(filed with 2 related holders)Since 18 December 2025
What they said
Item 4 of the Original Schedule 13D is hereby amended and restated as follows: The information set forth in Item 6 of this Amendment is incorporated herein by reference. On December 17, 2024, President Donald J. Trump transferred 114,750,000 shares of Common Stock of the Issuer…
Read the filing - JANE STREET GROUP, LLCPassive investorat least 3.7%−1.7 pts(filed with 3 related holders)Since 30 September 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
TRUMP DONALD J | at least 41.5%−11.4 pts (filed with 2 related holders) | 18 December 2025 | What they saidItem 4 of the Original Schedule 13D is hereby amended and restated as follows: The information set forth in Item 6 of this Amendment is incorporated herein by reference. On December 17, 2024, President Donald J. Trump transferred 114,750,000 shares of Common Stock of the Issuer… Read the filing |
JANE STREET GROUP, LLC Passive investor | at least 3.7%−1.7 pts (filed with 3 related holders) | 30 September 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $10,470 of shares on the open market. 1 sold $55,068.
- Glabe ScottGeneral Counsel and SecretaryBought
- Date
- 18 November 2025
- Shares
- 1,000
- Price
- $10.47
- Value
- $10,470
- Swider EricDirectorSold
- Date
- 17 November 2025
- Shares
- 5,200
- Price
- $10.59
- Value
- $55,068
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 18 November 2025 | Glabe Scott General Counsel and Secretary | Bought | 1,000 | $10.47 | $10,470 |
| 17 November 2025 | Swider Eric Director | Sold | 5,200 | $10.59 | $55,068 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 10 Aug 2026 and 17 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.