TPG RE Finance Trust, Inc. (TRTX)

TPG RE Finance Trust Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	45.41	60.32	74.34	-116.63	-60.07	138.55
Depreciation & Amortization	10.1	12.63	15.73	3.05	-	-
Other Amortization	8.5	6.51	7.99	13.35	15.01	15.89
Gain on Sale of Loans & Receivables	-	-	-	-	-	2.11
Loss (Gain) From Sale of Investments	-7.31	-4.72	-6.08	-11.96	-11.09	-7.2
Provision for Credit Losses	23.13	13.87	4.15	189.91	172.98	-8.42
Stock-Based Compensation	9.79	9.81	6.39	8.03	5.05	5.76
Change in Accounts Payable	0.4	0.1	-3.57	-0.86	8.36	0.09
Change in Unearned Revenue	-0.55	0.2	0.46	-0.18	0.09	-0.05
Change in Other Net Operating Assets	-3.03	0.89	7.2	-8.89	-1.33	-1.12
Other Operating Activities	-1.42	-0.68	0.81	0.54	1.31	1.33
Operating Cash Flow	85.19	90.36	112.13	80.13	100.5	132.17
Operating Cash Flow Growth	-6.60%	-19.41%	39.94%	-20.27%	-23.96%	0.06%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Decrease (Increase) in Loans Originated / Sold - Investing	-1,214	-823.01	445.83	1,025	-602.22	-397.27
Investing Cash Flow	-1,225	-789.71	440.51	1,095	-452.56	-342.9

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	4,018	514.45	610.98	2,825	2,043
Long-Term Debt Repaid	-	-3,283	-991.24	-1,742	-2,368	-1,728
Net Debt Issued (Repaid)	1,250	735.4	-476.79	-1,131	457.01	314.58
Issuance of Preferred Stock	-	-	-	-	-	201.25
Preferred Share Repurchases	-	-	-	-	-	-247.49
Repurchase of Common Stock	-25	-25.35	-0.04	-	-	-
Common Dividends Paid	-76.63	-78.5	-77.85	-75.83	-80.29	-79.09
Preferred Dividends Paid	-12.59	-12.59	-12.59	-12.59	-12.59	-19.19
Total Dividends Paid	-89.22	-91.09	-90.44	-88.42	-92.88	-98.28
Other Financing Activities	-19.61	-21.83	-1.91	-3.63	-18.79	-17.96
Financing Cash Flow	1,116	597.13	-569.18	-1,223	345.34	152.1

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-23.37	-102.22	-16.54	-47.3	-6.72	-58.63

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
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%
Free Cash Flow Margin	71.49%	68.33%	75.27%	-	-	81.61%
Free Cash Flow Per Share	1.10	1.14	1.40	1.03	1.30	1.62

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	194.25	179.72	194.44	263.71	137.51	69.24
Cash Income Tax Paid	0.39	0.29	0.26	0.37	0.78	1.22

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Oct 26, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 1, 2026

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