TPG RE Finance Trust, Inc.

TRTX

TPG RE Finance Trust, Inc.

TRTX

Insider Sentiment (TTM):

Last Purchase:2022-11-21Last Sale:2024-05-08Shares Purchased (TTM):0Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:55,591,952Shares Outstanding:78,252,513Institutional Ownership Pct.:71.04%

Earnings Market Reaction:

Filing Date:2026-04-28Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Affiliated Entity	-	-	-	-	-	-	-	-	-	-	-0	6
Collateralized Loan Obligations	2,534	2,580	-223	2,435	8	1,682	-105	-44	1,875	1,915	-162	2,136
Other Secured Debt	60	60	76	0	29	186	-60	0	132	273	-277	491
Mortgages	31	31	0	0	31	31	0	0	31	31	0	30
Series C Preferred Stock	0	0	0	-8	8	0	0	0	8	0	0	0
Assets
Cash And Cash Equivalents At Carrying Value	92	88	94	166	363	190	226	259	203	206	302	307
Restricted Cash	0	1	1	1	0	0	0	1	0	1	0	0
Accounts Receivable Net	-	0	0	0	0	0	0	0	0	0	0	0
Financing Receivable Excluding Accrued Interest Be…	4,130	4,103	3,631	3,775	3,272	3,279	3,259	3,201	3,367	3,477	3,952	4,548
Financing Receivable Allowance For Credit Loss Exc…	-74	-75	-65	-67	-65	-62	-67	-67	-71	-67	-213	-250
Financing Receivable Excluding Accrued Interest Af…	4,056	4,029	3,567	3,708	3,207	3,217	3,193	3,134	3,296	3,410	3,739	4,297
Other Assets	27	32	32	32	39	40	42	45	73	78	26	28
Assets	4,472	4,406	4,065	4,162	3,962	3,731	3,662	3,696	3,829	4,214	4,457	4,984
Liabilities And Stockhold…
Liabilities
Interest Payable Current And Noncurrent	7	7	6	6	6	7	7	7	9	10	10	10
Accrued Liabilities And Other Liabilities	14	16	17	14	15	15	16	15	17	15	39	34
Securities Sold Under Agreements To Repurchase	739	618	577	521	249	671	528	530	620	821	1,028	1,036
Other Liabilities	5	5	5	5	5	5	5	5	5	5	-	-
Deferred Revenue	1	2	2	3	1	2	1	1	1	1	1	2
Dividends Payable Current And Noncurrent	19	19	19	19	20	20	20	20	19	19	19	19
Liabilities	3,410	3,338	2,982	3,071	2,858	2,617	2,537	2,572	2,708	3,090	3,320	3,764
Stockholders Equity Inclu…
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	1,743	1,741	1,736	1,735	1,733	1,731	1,729	1,728	1,727	1,725	1,722	1,721
Retained Earnings Accumulated Deficit	-681	-673	-654	-644	-630	-617	-605	-604	-606	-600	-584	-501
Stockholders Equity	1,062	1,068	1,083	1,091	1,104	1,114	1,125	1,124	1,121	1,125	1,137	1,220
Liabilities And Stockholders Equity	4,472	4,406	4,065	4,162	3,962	3,731	3,662	3,696	3,829	4,214	4,457	4,984
Asset Pledged As Collateral	980	851	99	414	342	1,015	0	-139	974	1,071	-22	1,376
Series A Preferred Stock	0	0	0	-0	0	0	0	0	0	0	0	0
Variable Interest Entity Primary Beneficiary	3,100	3,100	-200	-300	3,200	2,100	-100	0	2,300	2,600	-200	-300
Common Stock Par Or Stated Value Per Share	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001
Common Stock Shares Authorized	303	303	303	303	303	303	303	303	303	303	303	303
Common Stock Shares Issued	78	78	78	79	81	81	81	81	78	78	78	78
Shares Outstanding	78	78	78	79	81	81	81	81	78	78	78	78
Off Balance Sheet Credit Loss Liability	3	3	2	2	2	2	3	3	3	3	23	28

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10‑Q10‑K

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-0.84%	2.63%	7.44%	-	-	-	-	-	-	-	-	-
2025	0.80%	5.05%	10.48%	10.02%	10.26%	5.12%	-1.23%	2.69%	6.04%	-9.31%	-5.59%	0.26%
2024	14.32%	16.51%	31.64%	-0.34%	-2.14%	1.49%	6.73%	5.41%	5.18%	-1.95%	-19.62%	-9.34%
2023	-8.67%	12.41%	12.99%	-8.12%	-6.54%	-19.86%	2.18%	23.77%	15.94%	36.53%	36.47%	59.99%
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Performance and Valuation Metrics

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Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Leverage & Debt
Interest Coverage TTM	-0.55	-0.56	-0.46	-0.49	-0.47	-0.56	-0.66	-1.11	-1.45	-1.48	-1.36	-1.61
Per Share Metrics
Diluted EPS TTM	0.59	0.57	0.71	0.65	0.69	0.75	0.73	-0.30	-1.52	-1.69	-1.30	-1.99
Free Cash Flow Per Share TTM	1.22	1.14	1.16	1.17	1.16	1.41	1.36	1.41	1.21	1.03	0.96	0.86
Dividend Per Share TTM	0.25	0.25	0.25	0.25	0.25	0.24	0.24	0.24	0.25	0.24	0.24	0.25
Margin Metrics
Gross Profit Margin TTM	164.71%	164.24%	163.83%	163.58%	163.69%	164.74%	189.18%	192.48%	193.27%	194.84%	172.92%	168.85%
Operating Profit Margin TTM	22.26%	20.91%	23.58%	23.57%	24.36%	24.33%	21.93%	-3.83%	-30.25%	-32.10%	-22.81%	-38.35%
Net Profit Margin TTM	15.83%	15.67%	19.60%	18.38%	19.33%	19.43%	18.33%	-7.25%	-33.42%	-36.11%	-26.63%	-42.32%
Growth Metrics
Net Revenue Growth (1Y)	1.15%	-5.51%	-11.61%	-14.61%	-17.00%	-15.28%	-14.94%	-8.20%	5.83%	19.71%	44.23%	47.39%
Net Income Growth (1Y)	-17.15%	-23.78%	-5.53%	-316.62%	-148.01%	-145.58%	-158.55%	-84.28%	30.72%	77.75%	39.08%	-315.88%
EPS Growth (1Y)	-14.27%	-23.29%	-2.63%	-316.57%	-146.17%	-144.31%	-156.24%	-84.68%	29.95%	77.11%	38.50%	-315.24%
Valuation Metrics
P/E TTM	12.66	14.16	11.06	10.44	10.09	9.57	9.56	-22.53	-3.94	-2.88	-3.75	-2.60
P/B TTM	0.56	0.60	0.57	0.50	0.52	0.51	0.50	0.49	0.41	0.34	0.33	0.33
P/S TTM	2.00	2.22	2.17	1.92	1.95	1.86	1.75	1.63	1.32	1.04	1.00	1.10
Market Cap	593.96M	643.80M	617.04M	547.98M	571.76M	570.80M	564.90M	546.04M	464.80M	377.65M	378.40M	400.56M
Enterprise Value	501.50M	555.53M	522.58M	381.55M	208.32M	380.32M	338.10M	286.31M	261.44M	170.63M	76.05M	92.87M
Calculated Values
Free Cash Flow TTM	95.80M	90.36M	91.20M	93.07M	93.89M	112.13M	109.86M	112.26M	94.02M	80.13M	74.86M	66.21M
Net Debt	-92.46M	-88.27M	-94.46M	-166.42M	-363.44M	-190.48M	-226.80M	-259.74M	-203.36M	-207.02M	-302.35M	-307.69M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2024-05-08Sale

Owner: Starwood, Capital Group G…

Title: -

Shares: 9,352,941

Price/Share: $8.84

Value: $82,679,998.44

Shares Owned: 2,647,059

Relationship: TenPercentOwner

Ownership: Direct

2024-05-08Sale

Owner: Starwood, Xi Management, …

Title: -

Shares: 9,352,941

Price/Share: $8.84

Value: $82,679,998.44

Shares Owned: 2,647,059

Relationship: TenPercentOwner

Ownership: Direct

2022-11-21Purchase

Owner: Foley, Robert

Title: Chief Financial Officer

Shares: 10,000

Price/Share: $7.05

Value: $70,500.00

Shares Owned: 153,158

Relationship: Officer

Ownership: Direct

2022-11-16Purchase

Owner: Ginsberg, Deborah J.

Title: See Remarks (3)

Shares: 13,800

Price/Share: $7.19

Value: $99,222.00

Shares Owned: 91,616

Relationship: Officer

Ownership: Direct

2022-01-20Sale

Owner: Flourish, Investment Corp…

Title: -

Shares: 1,000,000

Price/Share: $12.34

Value: $12,340,000.00

Shares Owned: 7,387,866

Relationship: TenPercentOwner

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2024-05-08	Starwood, Capital Group G…	TenPercentOwner	-	Direct	Sale	9,352,941	8.84	$82,679,998.44	2,647,059	4
2024-05-08	Starwood, Xi Management, …	TenPercentOwner	-	Direct	Sale	9,352,941	8.84	$82,679,998.44	2,647,059	4
2022-11-21	Foley, Robert	Officer	Chief Financial Officer	Direct	Purchase	10,000	7.05	$70,500.00	153,158	4
2022-11-16	Ginsberg, Deborah J.	Officer	See Remarks (3)	Direct	Purchase	13,800	7.19	$99,222.00	91,616	4
2022-01-20	Flourish, Investment Corp…	TenPercentOwner	-	Indirect	Sale	1,000,000	12.34	$12,340,000.00	7,387,866	4
2021-08-17	China, Investment Corp, F…	TenPercentOwner	-	Indirect	Sale	1,000,000	12.33	$12,330,000.00	8,387,866	4
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Institutional Ownership

No data available for chart

2026-03-31

71.04%

Inst. Shares: 55,591,952

Shares Outstanding: 78,252,513

2025-12-31

72.45%

Inst. Shares: 57,449,645

Shares Outstanding: 79,299,265

2025-09-30

72.39%

Inst. Shares: 56,839,261

Shares Outstanding: 78,515,639

2025-06-30

75.54%

Inst. Shares: 60,032,394

Shares Outstanding: 79,474,862

2025-03-31

76.33%

Inst. Shares: 61,810,530

Shares Outstanding: 80,975,625

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	55,591,952	78,252,513	71.04%
2025-12-31	57,449,645	79,299,265	72.45%
2025-09-30	56,839,261	78,515,639	72.39%
2025-06-30	60,032,394	79,474,862	75.54%
2025-03-31	61,810,530	80,975,625	76.33%
2024-12-31	60,854,639	79,801,990	76.26%
2024-09-30	52,152,872	80,925,851	64.45%
2024-06-30	44,324,863	79,456,745	55.78%
2024-03-31	44,222,561	77,868,735	56.79%
2023-12-31	43,295,373	77,575,788	55.81%
2023-09-30	43,820,737	77,730,715	56.38%
2023-06-30	43,494,884	77,417,566	56.18%
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TPG RE Finance Trust, Inc. (TRTX) — SEC Financial Statements & Analysis

TPG RE Finance Trust, Inc. (TRTX) is a real estate investment trusts company, incorporated in MD. TPG RE Finance Trust, Inc. trades on NYSE as: TRTX, TRTX-PC. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), TPG RE Finance Trust, Inc. reported a 1.15% year-over-year revenue growth, a Gross Profit Margin of 164.71% (TTM), a Price-to-Sales (P/S) ratio of 2.00x (TTM), a Price-to-Book (P/B) ratio of 0.56x (TTM), at a market cap of $593.96M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 1.15%
Gross Profit Margin TTM: 164.71%
P/S TTM: 2.00x
P/B TTM: 0.56x
Market Cap: $593.96M

Data as of 2026-03-31 · Source: SEC EDGAR

Frequently Asked Questions

What industry is TPG RE Finance Trust, Inc. in?

TPG RE Finance Trust, Inc. (TRTX) operates in the Real Estate Investment Trusts industry.

What is TRTX's market cap?

TPG RE Finance Trust, Inc. (TRTX) has a market capitalization of $593.96M as of 2026-03-31.

What is TRTX's P/E ratio?

TPG RE Finance Trust, Inc. (TRTX)'s trailing twelve month P/E ratio is 12.66x as of 2026-03-31.

What exchange does TRTX trade on?

TPG RE Finance Trust, Inc. (TRTX) trades on the NYSE.

Where is TPG RE Finance Trust, Inc. incorporated?

TPG RE Finance Trust, Inc. is incorporated in MD.