TPG RE Finance Trust Cash Flow 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
Net Income	67.03	74.34	-116.63	-60.07	138.55	-136.83
Depreciation & Amortization	14.22	15.73	3.05	-	-	-
Other Amortization	6.15	7.99	13.35	15.01	15.89	13.5
Gain on Sale of Loans & Receivables	-	-	-	-	2.11	13.77
Loss (Gain) From Sale of Investments	-4.17	-6.08	-11.96	-11.09	-7.2	192.31
Provision for Credit Losses	7.22	4.15	189.91	172.98	-8.42	55.98
Stock-Based Compensation	7.29	6.39	8.03	5.05	5.76	5.77
Change in Accounts Payable	-0.61	-3.57	-0.86	8.36	0.09	-4.04
Change in Unearned Revenue	0.62	0.46	-0.18	0.09	-0.05	1.25
Change in Other Net Operating Assets	2.28	7.2	-8.89	-1.33	-1.12	-6.03
Other Operating Activities	-0.67	0.81	0.54	1.31	1.33	-4.7
Operating Cash Flow	91.2	112.13	80.13	100.5	132.17	132.09
Operating Cash Flow Growth	-16.98%	39.94%	-20.27%	-23.96%	0.06%	8.57%
Investment in Securities	-	-	-	-	-	597.55
Net Decrease (Increase) in Loans Originated / Sold - Investing	-580.97	445.83	1,025	-602.22	-397.27	367.04
Investing Cash Flow	-546.03	440.51	1,095	-452.56	-342.9	964.59
Long-Term Debt Issued	-	514.45	610.98	2,825	2,043	1,294
Long-Term Debt Repaid	-	-991.24	-1,742	-2,368	-1,728	-2,258
Net Debt Issued (Repaid)	451.63	-476.79	-1,131	457.01	314.58	-964.2
Issuance of Preferred Stock	-	-	-	-	201.25	210.6
Preferred Share Repurchases	-	-	-	-	-247.49	-
Issuance of Common Stock	-	-	-	-	-	12.9
Repurchase of Common Stock	-24.96	-0.04	-	-	-	-
Common Dividends Paid	-79.1	-77.85	-75.83	-80.29	-79.09	-96.95
Preferred Dividends Paid	-12.59	-12.59	-12.59	-12.59	-19.19	-14.69
Total Dividends Paid	-91.69	-90.44	-88.42	-92.88	-98.28	-111.63
Other Financing Activities	-12.49	-1.91	-3.63	-18.79	-17.96	-4.33
Financing Cash Flow	322.49	-569.18	-1,223	345.34	152.1	-856.67
Net Cash Flow	-132.34	-16.54	-47.3	-6.72	-58.63	240
Free Cash Flow	91.2	112.13	80.13	100.5	132.17	132.09
Free Cash Flow Growth	-16.98%	39.94%	-20.27%	-23.96%	0.06%	8.57%
Free Cash Flow Margin	65.81%	75.27%	-	-	81.61%	123.19%
Free Cash Flow Per Share	1.14	1.40	1.03	1.30	1.62	1.72
Cash Interest Paid	176.25	194.44	263.71	137.51	69.24	97.77
Cash Income Tax Paid	0.37	0.26	0.37	0.78	1.22	0.14

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

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