TPG RE Finance Trust, Inc. (TRTX)

TPG RE Finance Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest and Dividend Income	290.24	307.15	362.55	302.86	240.16
Total Interest Expense	186.46	198.85	273.86	160.76	85.09
Net Interest Income	103.78	108.29	88.69	142.11	155.07
Other Revenue	42.34	44.82	27.7	2.85	0.56
Revenue Before Loan Losses	146.12	153.12	116.39	144.95	155.63
Provision for Loan Losses	13.87	4.15	189.91	172.98	-6.31
Revenue	132.24	148.97	-73.52	-28.03	161.94
Revenue Growth (YoY)	-11.23%	-	-	-	51.04%
Cost of Services Provided	68.71	67.85	41.85	39.75	32.35
Total Operating Expenses	78.52	74.23	49.88	44.8	38.12
Operating Income	53.73	74.73	-123.4	-72.83	123.82
EBT Excluding Unusual Items	53.73	74.73	-123.4	-72.83	123.82
Pretax Income	60.7	74.73	-116.37	-59.54	139.61
Income Tax Expense	0.38	0.4	0.26	0.53	1.06
Net Income	60.32	74.34	-116.63	-60.07	138.55
Preferred Dividends & Other Adjustments	14.84	14.67	14.28	13.58	67.85
Net Income to Common	45.48	59.67	-130.91	-73.64	70.71
Net Income Growth	-18.86%	-	-	-	-
Shares Outstanding (Basic)	79	80	78	77	77
Shares Outstanding (Diluted)	79	80	78	77	82
Shares Change (YoY)	-0.55%	2.98%	0.36%	-5.37%	6.56%
EPS (Basic)	0.57	0.75	-1.69	-0.95	0.92
EPS (Diluted)	0.57	0.75	-1.69	-0.95	0.87
EPS Growth	-23.76%	-	-	-	-
Free Cash Flow	90.36	112.13	80.13	100.5	132.17
Free Cash Flow Per Share	1.14	1.40	1.03	1.30	1.62
Dividend Per Share	0.960	0.960	0.960	0.960	0.880
Dividend Growth	-	-	-	9.09%	-14.56%
Operating Margin	40.63%	50.17%	-	-	76.46%
Profit Margin	34.39%	40.05%	-	-	43.66%
Free Cash Flow Margin	68.33%	75.27%	-	-	81.61%
Effective Tax Rate	0.62%	0.53%	-	-	0.76%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

SEC Filings: 10-K · 10-Q