TPG INC Financials

TPG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows TPG INC (TPG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

5/9

TPG INC passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

5.59x

For every $1 of reported earnings, TPG INC generates $5.59 in operating cash flow ($1.0B OCF vs $184.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$4.7B

YoY+33.4%

5Y CAGR+17.2%

TPG INC generated $4.7B in revenue in fiscal year 2025. This represents an increase of 33.4% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$184.6M

YoY+686.0%

TPG INC reported $184.6M in net income in fiscal year 2025. This represents an increase of 686.0% from the prior year.

EPS (Diluted)

$0.45

YoY+207.1%

TPG INC earned $0.45 per diluted share (EPS) in fiscal year 2025. This represents an increase of 207.1% from the prior year.

Cash & Debt

$826.1M

YoY+2.2%

5Y CAGR-0.8%

TPG INC held $826.1M in cash against $1.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.98

YoY+20.0%

TPG INC paid $1.98 per share in dividends in fiscal year 2025. This represents an increase of 20.0% from the prior year.

Shares Outstanding

154M

TPG INC had 154M shares outstanding in fiscal year 2025.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.0%

YoY+3.3pp

5Y CAGR+4.0pp

TPG INC's net profit margin was 4.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.3 percentage points from the prior year.

Return on Equity

4.5%

YoY+3.8pp

TPG INC's ROE was 4.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

TPG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.7B+33.4%	$3.5B+46.5%	$2.4B+19.3%	$2.0B-59.8%	$5.0B+135.3%	$2.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$702.2M+20.3%	$583.7M+20.7%	$483.6M+31.1%	$368.9M+32.4%	$278.6M+6.8%	$260.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$102.3M+32.7%	$77.1M+142.5%	$31.8M+67.4%	$19.0M+32.9%	$14.3M-8.9%	$15.7M
Income Tax	$67.0M+28.6%	$52.1M-13.6%	$60.3M+85.5%	$32.5M+259.4%	$9.0M-7.6%	$9.8M
Net Income	$184.6M+686.0%	$23.5M-70.7%	$80.1M-13.3%	$92.4M	$0	$0
EPS (Diluted)	$0.45+207.1%	$-0.42-950.0%	$-0.04+78.9%	$-0.19	$0.00	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q4'23	Q3'24	Q2'24
Revenue	$1.5B+21.9%	$1.2B+32.9%	$920.5M-11.0%	$1.0B-3.9%	$1.1B+38.5%	$777.3M+112.3%	$366.1M-39.3%	$603.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$189.3M+13.9%	$166.2M-8.9%	$182.3M+11.0%	$164.3M+36.2%	$120.7M-30.1%	$172.6M+69.9%	$101.6M-2.8%	$104.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$27.6M-2.1%	$28.2M+17.0%	$24.1M+7.6%	$22.4M+7.2%	$20.9M+72.7%	$12.1M+89.1%	$6.4M-9.9%	$7.1M
Income Tax	$22.5M-22.1%	$28.9M+213.3%	$9.2M+45.3%	$6.3M-44.5%	$11.4M-57.3%	$26.8M+224.6%	$8.2M-37.4%	$13.2M
Net Income	$77.1M+14.9%	$67.1M+349.4%	$14.9M-41.2%	$25.4M+95.6%	$13.0M-1.5%	$13.2M-10.2%	$14.7M-46.1%	$27.2M
EPS (Diluted)	$0.30+50.0%	$0.20+500.0%	$-0.05	$0.00+100.0%	$-0.04-200.0%	$0.04+144.4%	$-0.09-550.0%	$0.02

TPG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$13.5B+28.1%	$10.5B+12.4%	$9.4B+18.0%	$7.9B-11.4%	$9.0B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$826.1M+2.2%	$808.0M+21.5%	$665.2M-39.9%	$1.1B+13.9%	$972.7M+13.3%	$858.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$498.2M+14.2%	$436.1M0.0%	$436.1M+89.4%	$230.2M0.0%	$230.2M	N/A
Total Liabilities	$9.4B+34.8%	$6.9B+15.6%	$6.0B+43.0%	$4.2B+147.1%	$1.7B	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.7B+34.4%	$1.3B+35.7%	$945.1M+112.6%	$444.6M	N/A	N/A
Total Equity	$4.1B+15.2%	$3.6B+6.9%	$3.4B+8.9%	$3.1B-50.7%	$6.3B	N/A
Retained Earnings	-$291.6M-56.0%	-$187.0M-439.2%	-$34.7M-1373.2%	$2.7M	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q4'23	Q3'24	Q2'24
Total Assets	$13.5B+3.6%	$13.0B+8.8%	$12.0B+5.8%	$11.3B+7.4%	$10.5B+12.4%	$9.4B+26.9%	$7.4B-5.0%	$7.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$826.1M-23.5%	$1.1B-2.9%	$1.1B+35.3%	$822.0M+1.7%	$808.0M+21.5%	$665.2M-45.7%	$1.2B+37.0%	$893.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$498.2M0.0%	$498.2M+14.2%	$436.1M0.0%	$436.1M0.0%	$436.1M0.0%	$436.1M	N/A	N/A
Total Liabilities	$9.4B+1.2%	$9.2B+10.0%	$8.4B+7.6%	$7.8B+12.6%	$6.9B+15.6%	$6.0B+38.3%	$4.3B-0.9%	$4.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.7B-3.9%	$1.8B+11.3%	$1.6B+8.6%	$1.5B+15.7%	$1.3B+35.7%	$945.1M+112.9%	$443.8M-0.2%	$444.9M
Total Equity	$4.1B+9.6%	$3.8B+6.0%	$3.6B+1.7%	$3.5B-2.6%	$3.6B+6.9%	$3.4B+10.6%	$3.0B-2.9%	$3.1B
Retained Earnings	-$291.6M+1.0%	-$294.4M-10.1%	-$267.4M-17.7%	-$227.1M-21.5%	-$187.0M-439.2%	-$34.7M-358.5%	-$7.6M-106.5%	-$3.7M

TPG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.0B+94.0%	$532.1M-26.1%	$720.5M-47.6%	$1.4B-6.7%	$1.5B+1446.0%	$95.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$264.0M-493.6%	-$44.5M+88.1%	-$373.6M-12302.5%	-$3.0M+92.0%	-$37.7M+65.1%	-$108.1M
Financing Cash Flow	-$750.4M-117.6%	-$344.9M+56.3%	-$789.2M+36.3%	-$1.2B+6.4%	-$1.3B-628.3%	$250.3M
Dividends Paid	$1.3B+54.6%	$833.4M+26.9%	$656.8M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q4'23	Q3'24	Q2'24
Operating Cash Flow	-$43.7M-108.9%	$492.0M+27.5%	$385.9M+94.7%	$198.2M+205.4%	-$188.1M+63.3%	-$512.0M-174.0%	$692.3M+37.2%	$504.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$9.3M+96.2%	-$245.2M-7850.8%	-$3.1M+51.4%	-$6.3M-333.8%	-$1.5M+99.6%	-$363.0M-6400.0%	-$5.6M-37.6%	-$4.1M
Financing Cash Flow	-$201.3M+27.7%	-$278.5M-199.9%	-$92.8M+47.8%	-$177.8M-6.4%	-$167.1M-152.9%	$315.6M+188.8%	-$355.6M+34.0%	-$538.9M
Dividends Paid	$208.3M-59.8%	$518.6M+84.5%	$281.1M+0.3%	$280.2M+40.7%	$199.1M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TPG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	4.0%+3.3pp	0.7%-2.7pp	3.4%-1.3pp	4.6%+4.6pp	0.0%0.0pp	0.0%
Return on Equity	4.5%+3.8pp	0.7%-1.7pp	2.4%-0.6pp	3.0%	N/A	N/A
Return on Assets	1.4%+1.1pp	0.2%-0.6pp	0.9%-0.3pp	1.2%+1.2pp	0.0%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.42+0.1	0.36+0.1	0.28+0.1	0.14-0.1	0.27	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q4'23	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	5.2%-0.3pp	5.5%+3.9pp	1.6%-0.8pp	2.5%+1.2pp	1.2%-0.5pp	1.7%-2.3pp	4.0%-0.5pp	4.5%
Return on Equity	1.9%+0.1pp	1.8%+1.4pp	0.4%-0.3pp	0.7%+0.4pp	0.4%-0.0pp	0.4%-0.1pp	0.5%-0.4pp	0.9%
Return on Assets	0.6%+0.1pp	0.5%+0.4pp	0.1%-0.1pp	0.2%+0.1pp	0.1%-0.0pp	0.1%-0.1pp	0.2%-0.1pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.42-0.1	0.47+0.0	0.45+0.0	0.42+0.1	0.36+0.1	0.28+0.1	0.150.0	0.14
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is TPG INC's annual revenue?

TPG INC (TPG) reported $4.7B in total revenue for fiscal year 2025. This represents a 33.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is TPG INC's revenue growing?

TPG INC (TPG) revenue grew by 33.4% year-over-year, from $3.5B to $4.7B in fiscal year 2025.

Is TPG INC profitable?

Yes, TPG INC (TPG) reported a net income of $184.6M in fiscal year 2025, with a net profit margin of 4.0%.

What is TPG INC's earnings per share (EPS)?

TPG INC (TPG) reported diluted earnings per share of $0.45 for fiscal year 2025. This represents a 207.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does TPG INC have?

As of fiscal year 2025, TPG INC (TPG) had $826.1M in cash and equivalents against $1.7B in long-term debt.

What is TPG INC's net profit margin?

TPG INC (TPG) had a net profit margin of 4.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does TPG INC pay dividends?

Yes, TPG INC (TPG) paid $1.98 per share in dividends during fiscal year 2025.

What is TPG INC's return on equity (ROE)?

TPG INC (TPG) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is TPG INC's operating cash flow?

TPG INC (TPG) generated $1.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are TPG INC's total assets?

TPG INC (TPG) had $13.5B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does TPG INC have outstanding?

TPG INC (TPG) had 154M shares outstanding as of fiscal year 2025.

What is TPG INC's debt-to-equity ratio?

TPG INC (TPG) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is TPG INC's return on assets (ROA)?

TPG INC (TPG) had a return on assets of 1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is TPG INC's Piotroski F-Score?

TPG INC (TPG) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are TPG INC's earnings high quality?

TPG INC (TPG) has an earnings quality ratio of 5.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.