TPG RE Finance Trust, Inc. (TRTX)

NYSE: TRTX · Real-Time Price · USD

6.84

+0.34 (5.23%)

Nov 2, 2026, 2:13 PM EST - Market open

TPG RE Finance Trust Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	119.16	132.24	148.97	-73.52	-28.03	161.94
Revenue Growth	-14.02%	-11.23%	-	-	-	51.04%
Operating Income	45.82	53.73	74.73	-123.4	-72.83	123.82
Net Income	30.53	45.48	59.67	-130.91	-73.64	70.71
Earnings Per Share	0.39	0.57	0.75	-1.69	-0.95	0.87
EPS Growth	-39.17%	-23.76%	-	-	-	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	70.83	87.61	190.16	206.38	254.05	260.64
Total Debt	4,174	3,289	2,569	3,039	4,161	3,708
Net Cash (Debt)	-4,103	-3,201	-2,379	-2,833	-3,906	-3,447
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-52.82	-40.30	-29.77	-36.52	-50.54	-42.20

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	85.19	90.36	112.13	80.13	100.5	132.17
Capital Expenditures	-	-	-	-	-	-
Free Cash Flow	85.19	90.36	112.13	80.13	100.5	132.17
Free Cash Flow Growth	-6.60%	-19.41%	39.94%	-20.27%	-23.96%	0.06%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Margin	38.45%	40.63%	50.17%	-	-	76.46%
Pretax Margin	38.45%	45.90%	50.17%	158.28%	212.42%	86.21%
Profit Margin	25.62%	34.39%	40.05%	-	-	43.66%
FCF Margin	71.49%	68.33%	75.27%	-	-	81.61%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.960	0.960	0.960	0.960	0.960	0.880
Dividend Per Share Growth	0%	0%	0%	0%	9.09%	-14.56%
Dividend Yield	14.06%	11.16%	11.30%	14.79%	14.14%	7.16%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	17.36	14.82	11.53	-	-	13.43
Forward PE	6.33	7.97	7.82	21.27	6.50	9.88
P/FCF Ratio	5.87	7.46	6.14	6.31	5.23	7.18
PS Ratio	4.20	5.10	4.62	-6.87	-18.75	5.86