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TPG RE Finance Trust (TRTX) Financials

TPG RE Finance Trust logo
$7.65 -0.04 (-0.52%)
Closing price 05/28/2025 03:59 PM Eastern
Extended Trading
$7.70 +0.04 (+0.59%)
As of 08:21 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for TPG RE Finance Trust

Annual Income Statements for TPG RE Finance Trust

This table shows TPG RE Finance Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders		 60 -131 -74
Consolidated Net Income / (Loss)		 74 -117 -60
Net Income / (Loss) Continuing Operations		 74 -117 -60
Total Pre-Tax Income 		75 -116 -60
Total Revenue		 153 116 145
Net Interest Income / (Expense)		 108 89 142
Total Interest Income		 108 89 142
Investment Securities Interest Income		 307 363 303
Other Interest Income		 -199 -274 -161
Total Interest Expense		 0.00 0.00 0.00
Total Non-Interest Income		 45 28 2.85
Other Service Charges		 14 20 2.85
Other Non-Interest Income		 31 7.83 0.00
Provision for Credit Losses		 4.15 190 173
Total Non-Interest Expense		 74 43 32
Salaries and Employee Benefits		 6.39 8.03 5.05
Insurance Policy Acquisition Costs		 0.00 0.00 5.18
Other Operating Expenses		 68 42 35
Other Special Charges		 0.00 -7.03 -13
Income Tax Expense		 0.40 0.26 0.53
Preferred Stock Dividends Declared		 15 14 14
Basic Earnings per Share		 $0.75 ($1.69) ($0.95)
Weighted Average Basic Shares Outstanding		 79.80M 77.58M 77.30M
Diluted Earnings per Share		 $0.75 ($1.69) ($0.95)
Weighted Average Diluted Shares Outstanding		 79.89M 77.58M 77.30M
Weighted Average Basic & Diluted Shares Outstanding		 81.00M 77.87M 77.41M
Cash Dividends to Common per Share		 $0.96 $0.96 $0.96

Quarterly Income Statements for TPG RE Finance Trust

This table shows TPG RE Finance Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 9.96 6.91 19 21 13 2.63 -65 -73 3.82 33 -118
Consolidated Net Income / (Loss)		 14 11 22 25 17 6.38 -61 -69 7.38 36 -115
Net Income / (Loss) Continuing Operations		 14 11 22 25 17 6.38 -61 -69 7.38 36 -115
Total Pre-Tax Income 		14 11 22 25 17 6.45 -61 -69 7.56 36 -114
Total Revenue		 37 30 40 44 39 121 27 -56 25 41 32
Net Interest Income / (Expense)		 25 25 29 28 27 21 20 26 22 35 30
Total Interest Income		 25 -31 29 28 82 -49 20 26 92 -60 75
Investment Securities Interest Income		 68 69 78 78 82 84 90 97 92 100 75
Other Interest Income		 -43 - -49 -51 - - -70 -71 - - -
Total Interest Expense		 0.00 -55 0.00 0.00 55 -70 0.00 0.00 70 -96 45
Total Non-Interest Income		 12 5.52 11 16 12 99 7.47 -83 3.52 0.84 1.36
Other Service Charges		 1.85 2.53 3.20 3.49 4.90 5.96 5.44 4.96 3.52 0.84 1.36
Other Non-Interest Income		 10 7.54 7.66 8.28 7.22 4.27 2.03 1.53 0.00 - 0.00
Provision for Credit Losses		 3.42 - -0.30 - 4.36 - 76 - 7.78 - -
Total Non-Interest Expense		 20 20 18 19 17 7.79 12 13 9.91 -169 146
Salaries and Employee Benefits		 2.02 1.89 1.14 1.69 1.67 3.26 1.15 1.81 1.80 1.53 0.93
Other Operating Expenses		 18 18 17 17 16 12 11 11 8.11 8.93 8.67
Income Tax Expense		 0.06 -0.16 0.07 0.10 0.39 0.07 0.01 0.01 0.18 0.20 0.13
Preferred Stock Dividends Declared		 3.76 3.77 3.52 3.69 3.69 3.75 3.42 3.55 3.55 3.55 3.31
Basic Earnings per Share		 $0.12 $0.09 $0.23 $0.26 $0.17 $0.03 ($0.83) ($0.94) $0.05 $0.42 ($1.52)
Weighted Average Basic Shares Outstanding		 80.98M 79.80M 80.93M 79.46M 77.87M 77.58M 77.73M 77.42M 77.41M 77.30M 77.40M
Diluted Earnings per Share		 $0.12 $0.09 $0.23 $0.26 $0.17 $0.03 ($0.83) ($0.94) $0.05 $0.43 ($1.52)
Weighted Average Diluted Shares Outstanding		 81.77M 79.89M 81.37M 80.91M 77.87M 77.58M 77.73M 77.42M 78.09M 77.30M 77.40M
Weighted Average Basic & Diluted Shares Outstanding		 79.86M 81.00M 80.93M 80.93M 77.87M 77.87M 77.73M 77.73M 77.41M 77.41M 77.41M
Cash Dividends to Common per Share		 $0.24 - $0.24 $0.24 $0.24 - $0.24 $0.24 $0.24 - $0.24

Annual Cash Flow Statements for TPG RE Finance Trust

This table details how cash moves in and out of TPG RE Finance Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents		 -17 -47 -6.72
Net Cash From Operating Activities		 112 80 100
Net Cash From Continuing Operating Activities		 112 80 100
Net Income / (Loss) Continuing Operations		 74 -117 -60
Consolidated Net Income / (Loss)		 74 -117 -60
Provision For Loan Losses		 4.15 190 173
Depreciation Expense		 16 3.58 0.00
Amortization Expense		 1.66 0.88 3.92
Non-Cash Adjustments to Reconcile Net Income		 7.20 1.54 -6.93
Changes in Operating Assets and Liabilities, net		 8.80 0.85 -9.42
Net Cash From Investing Activities		 441 1,095 -453
Net Cash From Continuing Investing Activities		 439 1,095 -453
Purchase of Investment Securities		 -541 -341 -1,670
Sale and/or Maturity of Investments		 980 1,436 1,217
Net Cash From Financing Activities		 -569 -1,223 345
Net Cash From Continuing Financing Activities		 -569 -1,223 345
Issuance of Debt		 514 611 2,825
Repayment of Debt		 -991 -1,742 -2,368
Repurchase of Common Equity		 -0.04 0.00 0.00
Payment of Dividends		 -90 -88 -93
Other Financing Activities, Net		 -1.91 -3.63 -19
Cash Interest Paid		 194 264 138
Cash Income Taxes Paid		 0.26 0.37 0.78

Quarterly Cash Flow Statements for TPG RE Finance Trust

This table details how cash moves in and out of TPG RE Finance Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 173 -36 -33 56 -3.66 -95 -5.34 146 -92 18 -120
Net Cash From Operating Activities		 19 25 24 26 37 23 26 7.31 23 18 17
Net Cash From Continuing Operating Activities		 19 25 24 26 37 23 26 7.31 23 18 17
Net Income / (Loss) Continuing Operations		 14 11 22 25 17 6.38 -61 -69 7.38 36 -115
Consolidated Net Income / (Loss)		 14 11 22 25 17 6.38 -61 -69 7.38 36 -115
Provision For Loan Losses		 3.42 4.63 -0.30 -4.54 4.36 17 76 89 7.78 -11 137
Depreciation Expense		 3.99 4.13 3.45 4.16 4.25 1.22 1.39 0.96 0.00 - -
Amortization Expense		 1.29 0.61 0.10 0.68 0.28 0.07 1.21 0.11 -0.51 -1.45 1.60
Non-Cash Adjustments to Reconcile Net Income		 1.86 1.72 0.98 1.65 2.84 -3.77 1.15 1.81 2.35 2.23 0.93
Changes in Operating Assets and Liabilities, net		 -5.15 3.72 -2.71 -1.11 8.90 2.07 7.77 -15 6.47 -8.16 -7.12
Net Cash From Investing Activities		 7.55 -118 3.30 189 366 113 441 480 62 164 -511
Net Cash From Continuing Investing Activities		 7.55 -119 3.30 189 366 113 441 480 62 164 -511
Purchase of Investment Securities		 -14 -230 -206 -20 -86 -86 -60 -33 -161 -102 -974
Sale and/or Maturity of Investments		 22 110 210 209 451 199 502 513 223 266 463
Net Cash From Financing Activities		 146 56 -60 -159 -407 -231 -473 -341 -177 -164 374
Net Cash From Continuing Financing Activities		 146 56 -60 -159 -407 -231 -473 -341 -177 -164 374
Issuance of Debt		 943 290 225 - 0.00 122 41 161 287 206 740
Repayment of Debt		 -760 -211 -260 -136 -384 -330 -491 -479 -442 -347 -338
Repurchase of Common Equity		 -2.79 - - - - - - - - - -
Payment of Dividends		 -23 -23 -23 -22 -22 -22 -22 -22 -22 -22 -22
Other Financing Activities, Net		 -11 -0.05 -1.39 -0.31 -0.16 -1.73 -0.83 -0.99 -0.09 -1.88 -6.67
Cash Interest Paid		 42 43 47 50 54 60 67 69 67 57 38
Cash Income Taxes Paid		 0.01 0.10 0.05 0.09 0.01 -0.46 0.62 -0.57 0.78 - 0.66

Annual Balance Sheets for TPG RE Finance Trust

This table presents TPG RE Finance Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets		 3,731 4,214 5,545
Cash and Due from Banks		 190 206 254
Restricted Cash		 0.32 0.64 0.27
Loans and Leases, Net of Allowance		 3,217 3,410 4,781
Loans and Leases		 3,279 3,477 4,979
Allowance for Loan and Lease Losses		 62 67 197
Accrued Investment Income		 27 32 42
Other Assets		 297 565 468
Total Liabilities & Shareholders' Equity		 3,731 4,214 5,545
Total Liabilities		 2,617 3,090 4,223
Short-Term Debt		 671 821 1,147
Accrued Interest Payable		 6.66 10 11
Other Short-Term Payables		 20 19 19
Long-Term Debt		 1,898 2,219 3,013
Other Long-Term Liabilities		 17 16 33
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,114 1,125 1,322
Total Preferred & Common Equity		 1,114 1,125 1,322
Preferred Stock		 0.01 0.01 0.01
Total Common Equity		 1,114 1,125 1,322
Common Stock		 1,731 1,725 1,717
Retained Earnings		 -617 -600 -395

Quarterly Balance Sheets for TPG RE Finance Trust

This table presents TPG RE Finance Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 3,962 3,662 3,696 3,829 4,457 4,984 5,384 5,664
Cash and Due from Banks		 363 226 259 203 302 307 162 236
Restricted Cash		 0.42 0.48 0.50 0.29 0.08 0.24 - 0.48
Loans and Leases, Net of Allowance		 3,207 3,193 3,134 3,296 3,739 4,297 0.00 0.00
Loans and Leases		 3,272 3,259 3,201 3,367 3,952 4,548 - -
Allowance for Loan and Lease Losses		 65 67 67 71 213 250 - -
Accrued Investment Income		 29 31 28 31 35 35 - 35
Other Assets		 363 211 274 299 381 344 5,222 5,392
Total Liabilities & Shareholders' Equity		 3,962 3,662 3,696 3,829 4,457 4,984 5,384 5,664
Total Liabilities		 2,858 2,537 2,572 2,708 3,320 3,764 4,075 4,357
Short-Term Debt		 249 528 530 620 1,028 1,036 1,238 1,283
Accrued Interest Payable		 5.53 6.64 7.14 8.87 10 10 11 7.69
Other Short-Term Payables		 20 20 20 19 19 - - 19
Long-Term Debt		 2,563 1,960 1,994 2,037 2,218 2,657 2,771 3,016
Other Long-Term Liabilities		 16 17 17 18 45 61 55 32
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,104 1,125 1,124 1,121 1,137 1,220 1,309 1,306
Total Preferred & Common Equity		 1,104 1,125 1,124 1,121 1,137 1,220 1,309 1,306
Preferred Stock		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00
Total Common Equity		 1,104 1,125 1,124 1,121 1,137 1,220 1,309 1,306
Common Stock		 1,733 1,729 1,728 1,727 1,722 1,721 1,719 1,715
Retained Earnings		 -630 -605 -604 -606 -584 -501 -410 -409

Annual Metrics And Ratios for TPG RE Finance Trust

This table displays calculated financial ratios and metrics derived from TPG RE Finance Trust's official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics		 - - -
Revenue Growth		 31.55% -19.70% -6.86%
EBITDA Growth		 182.54% -101.24% -137.50%
EBIT Growth		 164.22% -95.46% -142.64%
NOPAT Growth		 191.25% -95.46% -130.08%
Net Income Growth		 163.74% -94.17% -143.35%
EPS Growth		 144.38% -77.89% -209.20%
Operating Cash Flow Growth		 39.94% -20.27% -23.96%
Free Cash Flow Firm Growth		 -55.08% 451.81% -96.57%
Invested Capital Growth		 -11.56% -24.05% 5.99%
Revenue Q/Q Growth		 -37.11% 217.05% 1.65%
EBITDA Q/Q Growth		 -52.68% -165.12% -27.26%
EBIT Q/Q Growth		 -58.72% -168.39% -14.61%
NOPAT Q/Q Growth		 6.14% -34.66% -15.85%
Net Income Q/Q Growth		 6.14% -34.34% -16.90%
EPS Q/Q Growth		 8.70% -31.01% -10.47%
Operating Cash Flow Q/Q Growth		 2.07% 7.04% -14.61%
Free Cash Flow Firm Q/Q Growth		 -33.85% 6.45% 26.92%
Invested Capital Q/Q Growth		 1.93% -4.99% -2.19%
Profitability Metrics		 - - -
EBITDA Margin		 60.33% -96.16% -38.37%
EBIT Margin		 48.81% -99.98% -41.07%
Profit (Net Income) Margin		 48.55% -100.20% -41.44%
Tax Burden Percent		 99.47% 100.22% 100.89%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 0.53% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.89% -1.69% -0.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.89% -2.67% -1.25%
Return on Net Nonoperating Assets (RNNOA)		 4.75% -7.84% -3.53%
Return on Equity (ROE)		 6.64% -9.53% -4.31%
Cash Return on Invested Capital (CROIC)		 14.16% 25.64% -6.60%
Operating Return on Assets (OROA)		 1.88% -2.38% -1.11%
Return on Assets (ROA)		 1.87% -2.39% -1.12%
Return on Common Equity (ROCE)		 6.64% -9.53% -4.31%
Return on Equity Simple (ROE_SIMPLE)		 6.67% -10.37% -4.54%
Net Operating Profit after Tax (NOPAT)		 74 -81 -42
NOPAT Margin		 48.55% -69.99% -28.75%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.98% 0.47%
SG&A Expenses to Revenue		 4.17% 6.90% 3.49%
Operating Expenses to Revenue		 48.48% 36.82% 21.74%
Earnings before Interest and Taxes (EBIT)		 75 -116 -60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 92 -112 -56
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.62 0.40 0.31
Price to Tangible Book Value (P/TBV)		 0.62 0.40 0.31
Price to Revenue (P/Rev)		 4.49 3.86 2.82
Price to Earnings (P/E)		 11.53 0.00 0.00
Dividend Yield		 11.29% 16.59% 18.21%
Earnings Yield		 8.67% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.79 0.79
Enterprise Value to Revenue (EV/Rev)		 20.03 28.20 29.76
Enterprise Value to EBITDA (EV/EBITDA)		 33.19 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 41.03 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 41.25 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 27.35 40.96 42.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.52 2.65 0.00
Leverage & Solvency		 - - -
Debt to Equity		 2.31 2.70 3.15
Long-Term Debt to Equity		 1.70 1.97 2.28
Financial Leverage		 2.51 2.94 2.82
Leverage Ratio		 3.55 3.99 3.86
Compound Leverage Factor		 3.55 3.99 3.86
Debt to Total Capital		 69.75% 72.99% 75.89%
Short-Term Debt to Total Capital		 18.21% 19.71% 20.93%
Long-Term Debt to Total Capital		 51.54% 53.28% 54.96%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 30.25% 27.01% 24.11%
Debt to EBITDA		 27.81 -27.16 -74.81
Net Debt to EBITDA		 25.75 -25.31 -70.24
Long-Term Debt to EBITDA		 20.55 -19.82 -54.18
Debt to NOPAT		 34.56 -37.31 -99.83
Net Debt to NOPAT		 31.99 -34.77 -93.73
Long-Term Debt to NOPAT		 25.53 -27.23 -72.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 556 1,237 -352
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.02 0.03
Fixed Asset Turnover		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 3,683 4,164 5,483
Invested Capital Turnover		 0.04 0.02 0.03
Increase / (Decrease) in Invested Capital		 -481 -1,318 310
Enterprise Value (EV)		 3,066 3,282 4,314
Market Capitalization		 688 450 408
Book Value per Share		 $13.77 $14.47 $17.08
Tangible Book Value per Share		 $13.77 $14.47 $17.08
Total Capital		 3,683 4,164 5,483
Total Debt		 2,569 3,039 4,161
Total Long-Term Debt		 1,898 2,219 3,013
Net Debt		 2,378 2,832 3,906
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 35 18
Net Nonoperating Obligations (NNO)		 2,569 3,039 4,161
Total Depreciation and Amortization (D&A)		 18 4.45 3.92
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.75 ($1.69) ($0.95)
Adjusted Weighted Average Basic Shares Outstanding		 79.80M 77.58M 77.30M
Adjusted Diluted Earnings per Share		 $0.75 ($1.69) ($0.95)
Adjusted Weighted Average Diluted Shares Outstanding		 79.89M 77.58M 77.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 81.00M 77.87M 77.41M
Normalized Net Operating Profit after Tax (NOPAT)		 74 -86 -51
Normalized NOPAT Margin		 48.55% -74.21% -35.17%
Pre Tax Income Margin		 48.81% -99.98% -41.07%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 121.66% -75.81% -154.63%
Augmented Payout Ratio		 121.71% -75.81% -154.63%

Quarterly Metrics And Ratios for TPG RE Finance Trust

This table displays calculated financial ratios and metrics derived from TPG RE Finance Trust's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.87% -74.95% 48.60% 177.68% 54.14% 194.94% -15.01% -246.05% -24.95% 6.11% -18.71%
EBITDA Growth		 -11.99% -86.53% 144.04% 143.54% 207.06% -45.15% 48.08% -1,389.11% -73.78% 338.48% -458.34%
EBIT Growth		 -19.60% -90.59% 136.37% 135.88% 126.67% -46.14% 46.53% -1,201.13% -68.33% 370.06% -487.27%
NOPAT Growth		 -18.07% 67.40% 151.80% 151.05% 127.04% -82.37% 46.53% -1,201.13% -68.99% -19.35% -373.27%
Net Income Growth		 -18.07% 67.40% 136.26% 135.73% 127.04% -82.37% 46.59% -1,172.97% -68.99% -19.35% -490.82%
EPS Growth		 -29.41% 200.00% 127.71% 127.66% 240.00% -93.02% 45.39% -754.55% -80.00% -17.31% -575.00%
Operating Cash Flow Growth		 -48.81% 9.79% -9.22% 249.42% 59.21% 29.33% 49.52% -77.47% -28.03% -48.91% -51.43%
Free Cash Flow Firm Growth		 -107.95% -62.86% -32.86% 238.35% 871.18% 583.99% 324.58% 312.22% 175.08% -0.44% -2,690.43%
Invested Capital Growth		 3.64% -11.56% -17.56% -25.75% -28.96% -24.05% -21.81% -8.04% -2.80% 5.99% 8.63%
Revenue Q/Q Growth		 22.61% -24.76% -8.43% 12.62% -67.71% 346.24% 147.87% -323.46% -38.21% 28.59% -17.74%
EBITDA Q/Q Growth		 24.10% -40.49% -12.95% 36.90% -88.59% 294.61% 13.94% -1,065.50% -96.61% 284.20% -2,368.49%
EBIT Q/Q Growth		 29.74% -52.30% -10.30% 44.83% -90.91% 284.24% 11.51% -1,015.04% -96.39% 282.89% -2,053.54%
NOPAT Q/Q Growth		 28.43% -51.87% -10.20% 47.61% 162.40% 114.89% 11.51% -756.51% -79.62% 145.16% -2,053.54%
Net Income Q/Q Growth		 28.43% -51.87% -10.20% 47.61% 162.40% 110.42% 11.51% -1,037.94% -79.62% 131.58% -2,009.07%
EPS Q/Q Growth		 33.33% -60.87% -11.54% 52.94% 466.67% 103.61% 11.70% -1,980.00% -88.37% 128.29% -1,281.82%
Operating Cash Flow Q/Q Growth		 -24.96% 7.54% -7.21% -31.62% 60.92% -11.08% 257.13% -68.85% 30.73% 2.80% -46.18%
Free Cash Flow Firm Q/Q Growth		 -125.15% -37.89% -38.59% -17.17% 17.54% 12.30% 209.49% 137.75% 158.57% 47.89% -192.46%
Invested Capital Q/Q Growth		 6.32% 1.93% -0.95% -3.45% -9.27% -4.99% -10.78% -7.63% -2.99% -2.19% 4.93%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 51.47% 50.85% 64.29% 67.63% 55.63% 94.61% -216.93% 0.00% 27.93% 508.69% -355.13%
EBIT Margin		 37.20% 35.15% 55.45% 56.60% 44.02% 93.54% -226.56% 0.00% 29.93% 512.24% -360.15%
Profit (Net Income) Margin		 37.05% 35.37% 55.28% 56.38% 43.01% 5.29% -226.58% 0.00% 29.20% 88.55% -360.55%
Tax Burden Percent		 99.59% 101.49% 99.70% 99.60% 97.72% 98.99% 100.01% 100.01% 97.57% 99.45% 100.11%
Interest Burden Percent		 100.00% 99.13% 100.00% 100.00% 100.00% 5.72% 100.00% 100.00% 100.00% 17.38% 100.00%
Effective Tax Rate		 0.41% -1.49% 0.30% 0.40% 2.28% 1.01% 0.00% 0.00% 2.43% 0.56% 0.00%
Return on Invested Capital (ROIC)		 1.46% 1.38% 3.37% 3.03% 1.23% 0.13% -1.17% 0.00% 0.74% 2.41% -6.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.46% 1.38% 3.37% 3.03% 1.23% 0.13% -1.65% 0.00% 0.74% 2.41% -7.54%
Return on Net Nonoperating Assets (RNNOA)		 3.58% 3.46% 8.53% 8.05% 3.37% 0.38% -5.10% 0.00% 2.13% 6.80% -21.95%
Return on Equity (ROE)		 5.04% 4.84% 11.90% 11.08% 4.60% 0.50% -6.27% 0.00% 2.87% 9.21% -28.63%
Cash Return on Invested Capital (CROIC)		 -1.72% 14.16% 21.01% 29.34% 32.22% 25.64% 23.27% 6.47% 1.85% -6.60% -8.94%
Operating Return on Assets (OROA)		 1.44% 1.35% 3.33% 3.00% 1.24% 2.23% -1.64% 0.00% 0.75% 13.80% -9.45%
Return on Assets (ROA)		 1.44% 1.36% 3.32% 2.99% 1.21% 0.13% -1.64% 0.00% 0.73% 2.39% -9.46%
Return on Common Equity (ROCE)		 5.04% 4.84% 11.90% 11.08% 4.60% 0.50% -6.27% 0.00% 2.87% 9.21% -28.63%
Return on Equity Simple (ROE_SIMPLE)		 6.46% 0.00% 6.23% -1.19% -9.57% 0.00% -7.63% -11.50% -5.84% 0.00% -3.93%
Net Operating Profit after Tax (NOPAT)		 14 11 22 25 17 6.38 -43 -48 7.38 36 -80
NOPAT Margin		 37.05% 35.37% 55.28% 56.38% 43.01% 5.29% -158.59% 0.00% 29.20% 88.55% -252.11%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.49% 0.55% 0.00% 0.00% 0.86%
SG&A Expenses to Revenue		 5.45% 6.24% 2.84% 3.85% 4.30% 2.70% 4.27% 0.00% 7.14% 3.73% 2.93%
Operating Expenses to Revenue		 53.56% 64.85% 45.30% 43.40% 44.79% 6.46% 45.97% 0.00% 39.25% -412.24% 460.15%
Earnings before Interest and Taxes (EBIT)		 14 11 22 25 17 113 -61 -69 7.56 209 -114
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 19 15 26 30 22 114 -59 -68 7.05 208 -113
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.60 0.62 0.61 0.60 0.52 0.40 0.41 0.41 0.37 0.31 0.33
Price to Tangible Book Value (P/TBV)		 0.60 0.62 0.61 0.60 0.52 0.40 0.41 0.41 0.37 0.31 0.33
Price to Revenue (P/Rev)		 4.37 4.49 2.84 2.92 4.49 3.86 12.60 12.14 3.50 2.82 3.02
Price to Earnings (P/E)		 11.67 11.53 12.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 11.78% 11.29% 11.25% 11.11% 12.79% 16.59% 16.14% 14.76% 15.55% 18.21% 14.21%
Earnings Yield		 8.57% 8.67% 8.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.79 0.83 0.82 0.81 0.80 0.79 0.78 0.79 0.81 0.79 0.80
Enterprise Value to Revenue (EV/Rev)		 20.56 20.03 12.12 12.75 23.35 28.20 92.77 93.75 31.68 29.76 31.51
Enterprise Value to EBITDA (EV/EBITDA)		 34.63 33.19 15.12 15.71 0.00 0.00 19.81 93.07 41.08 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 43.56 41.03 16.31 16.91 0.00 0.00 20.01 94.69 41.23 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 43.60 41.25 42.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 33.11 27.35 26.87 26.16 32.30 40.96 45.49 58.74 47.35 42.93 38.18
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 5.52 3.51 2.34 2.07 2.65 2.93 11.72 43.32 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.55 2.31 2.21 2.24 2.37 2.70 2.85 3.03 3.06 3.15 3.29
Long-Term Debt to Equity		 2.32 1.70 1.74 1.77 1.82 1.97 1.95 2.18 2.12 2.28 2.31
Financial Leverage		 2.46 2.51 2.53 2.65 2.74 2.94 3.09 2.85 2.89 2.82 2.91
Leverage Ratio		 3.50 3.55 3.59 3.70 3.79 3.99 4.14 3.90 3.92 3.86 3.95
Compound Leverage Factor		 3.50 3.52 3.59 3.70 3.79 0.23 4.14 3.90 3.92 0.67 3.95
Debt to Total Capital		 71.82% 69.75% 68.87% 69.18% 70.33% 72.99% 74.05% 75.17% 75.39% 75.89% 76.69%
Short-Term Debt to Total Capital		 6.35% 18.21% 14.62% 14.52% 16.41% 19.71% 23.45% 21.08% 23.28% 20.93% 22.90%
Long-Term Debt to Total Capital		 65.46% 51.54% 54.26% 54.66% 53.93% 53.28% 50.60% 54.09% 52.11% 54.96% 53.80%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 28.18% 30.25% 31.13% 30.82% 29.67% 27.01% 25.95% 24.83% 24.61% 24.11% 23.31%
Debt to EBITDA		 31.32 27.81 12.75 13.50 -27.31 -27.16 18.88 88.38 38.07 -74.81 -98.38
Net Debt to EBITDA		 27.27 25.75 11.59 12.11 -25.22 -25.31 17.12 81.02 36.54 -70.24 -92.96
Long-Term Debt to EBITDA		 28.55 20.55 10.04 10.67 -20.94 -19.82 12.90 63.60 26.32 -54.18 -69.01
Debt to NOPAT		 39.44 34.56 35.53 -281.36 -35.55 -37.31 -53.65 -37.77 -75.52 -99.83 -119.51
Net Debt to NOPAT		 34.34 31.99 32.29 -252.40 -32.83 -34.77 -48.65 -34.62 -72.48 -93.73 -112.93
Long-Term Debt to NOPAT		 35.95 25.53 27.99 -222.30 -27.25 -27.23 -36.66 -27.18 -52.20 -72.30 -83.83
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -124 492 792 1,290 1,557 1,325 1,180 381 160 -274 -525
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 28.12 0.00 0.00 0.00 2.29 0.00 -11.65
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.67 0.00 0.00 0.00 0.34 0.00 0.39
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.67 0.00 0.00 0.00 0.34 0.00 0.39
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.06 0.05 0.03 0.02 0.01 0.01 0.03 0.03 0.03
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,916 3,683 3,613 3,648 3,778 4,164 4,383 4,913 5,319 5,483 5,605
Invested Capital Turnover		 0.04 0.04 0.06 0.05 0.03 0.02 0.01 0.01 0.03 0.03 0.03
Increase / (Decrease) in Invested Capital		 137 -481 -770 -1,265 -1,540 -1,318 -1,223 -430 -153 310 445
Enterprise Value (EV)		 3,109 3,066 2,952 2,937 3,037 3,282 3,405 3,889 4,326 4,314 4,493
Market Capitalization		 660 688 690 673 583 450 462 504 478 408 430
Book Value per Share		 $13.62 $13.77 $13.90 $14.44 $14.39 $14.47 $14.63 $15.75 $16.91 $17.08 $16.88
Tangible Book Value per Share		 $13.62 $13.77 $13.90 $14.44 $14.39 $14.47 $14.63 $15.75 $16.91 $17.08 $16.88
Total Capital		 3,916 3,683 3,613 3,648 3,778 4,164 4,383 4,913 5,319 5,483 5,605
Total Debt		 2,812 2,569 2,488 2,524 2,657 3,039 3,245 3,693 4,009 4,161 4,299
Total Long-Term Debt		 2,563 1,898 1,960 1,994 2,037 2,219 2,218 2,657 2,771 3,013 3,016
Net Debt		 2,449 2,378 2,262 2,264 2,454 2,832 2,943 3,385 3,848 3,906 4,062
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 18 21 0.00 0.00 34
Net Nonoperating Obligations (NNO)		 2,812 2,569 2,488 2,524 2,657 3,039 3,245 3,693 4,009 4,161 4,299
Total Depreciation and Amortization (D&A)		 5.29 4.74 3.55 4.83 4.52 1.28 2.60 1.07 -0.51 -1.45 1.60
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.12 $0.09 $0.23 $0.26 $0.17 $0.03 ($0.83) ($0.94) $0.05 $0.42 ($1.52)
Adjusted Weighted Average Basic Shares Outstanding		 80.98M 79.80M 80.93M 79.46M 77.87M 77.58M 77.73M 77.42M 77.41M 77.30M 77.40M
Adjusted Diluted Earnings per Share		 $0.12 $0.09 $0.23 $0.26 $0.17 $0.03 ($0.83) ($0.94) $0.05 $0.43 ($1.52)
Adjusted Weighted Average Diluted Shares Outstanding		 81.77M 79.89M 81.37M 80.91M 77.87M 77.58M 77.73M 77.42M 78.09M 77.30M 77.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 79.86M 81.00M 80.93M 80.93M 77.87M 77.87M 77.73M 77.73M 77.41M 77.41M 77.41M
Normalized Net Operating Profit after Tax (NOPAT)		 14 7.37 22 25 17 6.38 -43 -48 7.38 36 16
Normalized NOPAT Margin		 37.05% 24.39% 55.28% 56.38% 43.01% 5.29% -158.59% 0.00% 29.20% 88.55% 48.85%
Pre Tax Income Margin		 37.20% 34.85% 55.45% 56.60% 44.02% 5.35% -226.56% 0.00% 29.93% 89.04% -360.15%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.31 0.00 0.00 0.00 0.11 0.00 -2.54
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.30 0.00 0.00 0.00 0.11 0.00 -1.78
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.31 0.00 0.00 0.00 0.11 0.00 -2.54
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.30 0.00 0.00 0.00 0.11 0.00 -1.78
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 127.97% 121.66% 127.98% -664.04% -82.61% -75.81% -101.61% -62.74% -114.68% -154.63% -180.54%
Augmented Payout Ratio		 131.93% 121.71% 127.98% -664.04% -82.61% -75.81% -101.61% -62.74% -114.68% -154.63% -180.54%

Frequently Asked Questions About TPG RE Finance Trust's Financials

When does TPG RE Finance Trust's financial year end?

According to the most recent income statement we have on file, TPG RE Finance Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has TPG RE Finance Trust's net income changed over the last 2 years?

TPG RE Finance Trust's net income appears to be on a downward trend, with a most recent value of $74.34 million in 2024, falling from -$60.07 million in 2022. The previous period was -$116.63 million in 2023. Find out what analysts predict for TPG RE Finance Trust in the coming months.

How has TPG RE Finance Trust revenue changed over the last 2 years?

Over the last 2 years, TPG RE Finance Trust's total revenue changed from $144.95 million in 2022 to $153.12 million in 2024, a change of 5.6%.

How much debt does TPG RE Finance Trust have?

TPG RE Finance Trust's total liabilities were at $2.62 billion at the end of 2024, a 15.3% decrease from 2023, and a 38.0% decrease since 2022.

How much cash does TPG RE Finance Trust have?

In the past 2 years, TPG RE Finance Trust's cash and equivalents has ranged from $190.16 million in 2024 to $254.05 million in 2022, and is currently $190.16 million as of their latest financial filing in 2024.

How has TPG RE Finance Trust's book value per share changed over the last 2 years?

Over the last 2 years, TPG RE Finance Trust's book value per share changed from 17.08 in 2022 to 13.77 in 2024, a change of -19.4%.


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This page (NYSE:TRTX) was last updated on 5/29/2025 by MarketBeat.com Staff
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