TPG RE Finance Trust Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Interest and Dividend Income	284.81	307.15	362.55	302.86	240.16	283.67
Total Interest Expense	181.8	198.85	273.86	160.76	85.09	107.24
Net Interest Income	103.01	108.29	88.69	142.11	155.07	176.44
Other Revenue	42.8	44.82	27.7	2.85	0.56	0.54
Revenue Before Loan Losses	145.81	153.12	116.39	144.95	155.63	176.97
Provision for Loan Losses	7.22	4.15	189.91	172.98	-6.31	69.76
Revenue	138.59	148.97	-73.52	-28.03	161.94	107.22
Revenue Growth (YoY)	4.13%	-	-	-	51.04%	-35.69%
Cost of Services Provided	71.11	67.85	41.85	39.75	32.35	34.57
Total Operating Expenses	78.4	74.23	49.88	44.8	38.12	40.34
Operating Income	60.19	74.73	-123.4	-72.83	123.82	66.88
EBT Excluding Unusual Items	60.19	74.73	-123.4	-72.83	123.82	66.88
Gain (Loss) on Sale of Investments	-	-	-	-	-	-203.4
Pretax Income	67.16	74.73	-116.37	-59.54	139.61	-136.52
Income Tax Expense	0.14	0.4	0.26	0.53	1.06	0.31
Net Income	67.03	74.34	-116.63	-60.07	138.55	-136.83
Preferred Dividends & Other Adjustments	14.83	14.67	14.28	13.58	67.85	18.71
Net Income to Common	52.2	59.67	-130.91	-73.64	70.71	-155.53
Net Income Growth	-4.30%	-	-	-	-	-
Shares Outstanding (Basic)	80	80	78	77	77	77
Shares Outstanding (Diluted)	80	80	78	77	82	77
Shares Change (YoY)	0.38%	2.98%	0.36%	-5.37%	6.56%	5.38%
EPS (Basic)	0.65	0.75	-1.69	-0.95	0.92	-2.03
EPS (Diluted)	0.65	0.75	-1.69	-0.95	0.87	-2.03
EPS Growth	-6.55%	-	-	-	-	-
Free Cash Flow	91.2	112.13	80.13	100.5	132.17	132.09
Free Cash Flow Per Share	1.14	1.40	1.03	1.30	1.62	1.72
Dividend Per Share	0.960	0.960	0.960	0.960	0.880	1.030
Dividend Growth	-	-	-	9.09%	-14.56%	-40.12%
Operating Margin	43.43%	50.17%	-	-	76.46%	62.37%
Profit Margin	37.66%	40.05%	-	-	43.66%	-145.06%
Free Cash Flow Margin	65.81%	75.27%	-	-	81.61%	123.19%
Effective Tax Rate	0.20%	0.53%	-	-	0.76%	-

Updated Oct 28, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

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