TPG RE Finance Trust, Inc. financials
Source: EDGAR filings · Built 2026-06-02T04:13:03Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Debt | 3.22B | 2.38B | 2.84B | 3.93B | 3.46B | 1.51B |
| Return on Equity (ROE) | 5.65% | 6.67% | -10.37% | -4.54% | 9.46% | -10.80% |
| Return on Assets (ROA) | 1.37% | 1.99% | -2.77% | -1.08% | 2.66% | -2.79% |
| Debt-to-Equity | 3.10× | 2.31× | 2.71× | 3.16× | 2.54× | 1.44× |
| Effective Tax Rate | 0.62% | 0.53% | -0.22% | -0.89% | 0.76% | -0.22% |
| Cash Conversion Ratio | 1.50× | 1.51× | -0.69× | -1.67× | 0.95× | -0.97× |
| Accruals Ratio | -0.01× | -0.01× | -0.05× | -0.03× | 0.00× | -0.05× |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 15.11× | 11.33× | — | — | 14.16× | — |
| P/B | 0.63× | 0.62× | 0.45× | 0.40× | 0.65× | 0.64× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Income Tax Expense (Benefit) | 378.00K | 399.00K | 259.00K | 530.00K | 1.06M | 305.00K |
| Net Income (Loss) Attributable to Parent | 60.32M | 74.33M | -116.63M | -60.07M | 138.55M | -136.83M |
| Earnings Per Share, Basic | $0.57 | $0.75 | $-1.69 | $-0.95 | $0.92 | $-2.03 |
| Weighted Average Number of Shares Outstanding, Basic | 79.30M | 79.80M | 77.58M | 77.30M | 76.98M | 76.66M |
| Earnings Per Share, Diluted | $0.57 | $0.75 | $-1.69 | $-0.95 | $0.87 | $-2.03 |
| Weighted Average Number of Shares Outstanding, Diluted | 79.45M | 79.89M | 77.58M | 77.30M | 81.68M | 76.66M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 87.61M | 190.16M | 206.38M | 254.05M | 260.63M | 319.67M |
| Assets | 4.41B | 3.73B | 4.21B | 5.55B | 5.22B | 4.91B |
| Long-term Debt | 3.31B | 2.57B | 3.05B | 4.18B | 3.72B | — |
| Liabilities | 3.34B | 2.62B | 3.09B | 4.22B | 3.75B | 3.44B |
| Stockholders' Equity Attributable to Parent | 1.07B | 1.11B | 1.12B | 1.32B | 1.46B | 1.27B |
| Common Stock, Shares, Outstanding | 78.32M | 81.00M | 77.87M | 77.41M | 77.18M | 76.79M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 90.36M | 112.13M | 80.13M | 100.50M | 132.17M | 132.09M |
| Net Cash Provided by (Used in) Investing Activities | -789.71M | 440.51M | 1.10B | -452.56M | -342.90M | 964.59M |
| Payments for Repurchase of Common Stock | 25.35M | 37.00K | 0 | 0 | — | — |
| Net Cash Provided by (Used in) Financing Activities | 597.13M | -569.18M | -1.22B | 345.34M | 152.10M | -856.67M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Debt | 3.29B | 3.22B | 2.85B | 2.87B | 2.46B | 2.38B |
| Return on Equity (ROE) | 1.78% | 0.37% | 2.03% | 1.89% | 1.24% | 0.96% |
| Return on Assets (ROA) | 0.42% | 0.09% | 0.54% | 0.50% | 0.35% | 0.29% |
| Debt-to-Equity | 3.18× | 3.10× | 2.72× | 2.78× | 2.56× | 2.31× |
| Effective Tax Rate | 0.59% | 2.09% | 0.49% | 0.62% | 0.41% | -1.49% |
| Cash Conversion Ratio | 1.30× | 6.20× | 2.99× | 2.13× | 1.39× | 2.39× |
| Accruals Ratio | -0.00× | -0.00× | -0.01× | -0.01× | -0.00× | -0.00× |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 12.20× | 15.11× | 13.17× | 11.88× | 11.64× | 11.33× |
| P/B | 0.57× | 0.63× | 0.62× | 0.56× | 0.60× | 0.62× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Income Tax Expense (Benefit) | 112.00K | 85.00K | 109.00K | 128.00K | 56.00K | -157.00K |
| Net Income (Loss) Attributable to Parent | 18.94M | 3.98M | 21.99M | 20.63M | 13.72M | 10.68M |
| Earnings Per Share, Basic | $0.19 | $0.00 | $0.23 | $0.21 | $0.12 | $0.09 |
| Weighted Average Number of Shares Outstanding, Basic | 78.25M | 79.30M | 78.52M | 79.47M | 80.98M | 79.80M |
| Earnings Per Share, Diluted | $0.19 | $0.01 | $0.23 | $0.21 | $0.12 | $0.09 |
| Weighted Average Number of Shares Outstanding, Diluted | 79.06M | 79.45M | 78.81M | 80.21M | 81.77M | 79.89M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 91.98M | 87.61M | 93.59M | 165.85M | 363.02M | 190.16M |
| Assets | 4.47B | 4.41B | 4.06B | 4.16B | 3.96B | 3.73B |
| Long-term Debt | 3.38B | 3.31B | 2.95B | 3.04B | 2.83B | 2.57B |
| Liabilities | 3.41B | 3.34B | 2.98B | 3.07B | 2.86B | 2.62B |
| Stockholders' Equity Attributable to Parent | 1.06B | 1.07B | 1.08B | 1.09B | 1.10B | 1.11B |
| Common Stock, Shares, Outstanding | 77.80M | 78.32M | 78.31M | 79.42M | 80.63M | 81.00M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 24.57M | 24.66M | 65.70M | 43.86M | 19.13M | 25.50M |
| Net Cash Provided by (Used in) Investing Activities | -66.24M | -361.45M | -428.26M | -457.73M | 7.55M | -117.77M |
| Payments for Repurchase of Common Stock | 4.20M | 387.00K | 24.96M | 15.69M | 2.79M | 0 |
| Net Cash Provided by (Used in) Financing Activities | 45.85M | 330.60M | 266.53M | 389.81M | 146.28M | 55.96M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (TRTX CIK 0001630472),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.