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

TPG Operating Gp (TPGXL) 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.

TPG Operating Gp (TPGXL) Financials

TPGXL

Trailing 12 months to June 30, 2026

Revenue $5.1B +30.1% YoY

Net Income $236.2M +279.3% YoY

EPS (Diluted) $0.67 +472.2% YoY

Operating Cash Flow $972.6M +109.2% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TPGXL SEC filings page.

TPG Operating Gp (TPGXL) reported $5.1B in revenue over the twelve months to Jun 30, 2026, up 30.1% from the prior twelve months. This page shows its 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).

Rhea AI TPGXL FY2025 2026-08-29

Cash generation remains meaningful while rising leverage and distributions absorb much of the balance-sheet expansion.

In FY2025, operating cash flow reached $1.03B against $185M of net income, showing accounting earnings understated cash generation. Depreciation and amortization was $145M, so it does not explain the entire conversion gap; the remaining difference points to working-capital timing or other non-cash movements not visible here.

Revenue nearly doubled from FY2023 to FY2025, yet net margin fell to 0.7% in FY2024. It recovered to 4.0% in FY2025, but rising SG&A and interest costs indicate that scale has not produced a consistently expanding earnings stream.

FY2025 dividends paid were $1.29B, above operating cash flow of $1.03B, so distributions exceeded internally generated cash that year. Meanwhile, debt-to-equity reached 0.4x from 0.3x in FY2023, showing the payout pattern accompanied a more leveraged balance sheet rather than pure cash accumulation.

Financial Health Signals

Financial health score not available

TPG Operating Gp does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/6

TPG Operating Gp passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 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 Operating Gp 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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Earnings & Revenue

Revenue

$1.8B

YoY+100.0%

QoQ+268.3%

5Y CAGR-3.3%

TPG Operating Gp generated $1.8B in revenue in Q2 2026. This represents an increase of 100.0% from the same quarter a year earlier. Against the prior quarter it is up 268.3%.

Net Income

$93.4M

YoY+525.3%

QoQ+6525.4%

5Y CAGR-46.5%

TPG Operating Gp reported $93.4M in net income in Q2 2026. This represents an increase of 525.3% from the same quarter a year earlier. Against the prior quarter it is up 6525.4%.

EPS (Diluted)

$0.39

YoY+880.0%

TPG Operating Gp earned $0.39 per diluted share (EPS) in Q2 2026. This represents an increase of 880.0% from the same quarter a year earlier.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$944.7M

YoY-15.1%

QoQ+11.0%

5Y CAGR+1.0%

TPG Operating Gp held $944.7M in cash against $2.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.59

YoY+43.9%

TPG Operating Gp paid $0.59 per share in dividends in Q2 2026. This represents an increase of 43.9% from the same quarter a year earlier.

Shares Outstanding

Diluted avg 385M

TPG Operating Gp had a weighted average of 385M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

5.1%

YoY+3.5pp

QoQ+5.4pp

5Y CAGR-93.1pp

TPG Operating Gp's net profit margin was 5.1% in Q2 2026, showing the share of revenue converted to profit. This is up 3.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.4 percentage points.

Return on Equity

2.5%

YoY+2.1pp

QoQ+2.5pp

TPG Operating Gp's ROE was 2.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.5 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

TPGXL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TPGXL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Revenue	$5.1B	$4.7B+33.4%	$3.5B+46.5%	$2.4B+19.3%	$2.0B-59.8%	$5.0B+135.3%	$2.1B
SG&A Expenses	$677.8M	$702.2M+20.3%	$583.7M+20.7%	$483.6M+31.1%	$368.9M+32.4%	$278.6M+6.8%	$260.7M
Interest Expense	$122.3M	$102.3M+32.7%	$77.1M+142.5%	$31.8M+67.4%	$19.0M+32.9%	$14.3M-8.9%	$15.7M
Income Tax	$70.3M	$67.0M+28.6%	$52.1M-13.6%	$60.3M+85.5%	$32.5M+259.4%	$9.0M-7.6%	$9.8M
Net Income	$236.2M	$184.6M+686.0%	$23.5M-70.7%	$80.1M-13.3%	$92.4M	$0	$0
EPS (Basic)	N/A	$0.89	$0.00-100.0%	$0.89-19.1%	$1.10	$0.00	N/A
EPS (Diluted)	$0.67	$0.45+207.1%	-$0.42-950.0%	-$0.04+78.9%	-$0.19	$0.00	N/A
Diluted Shares (Avg)	N/A	374M+2.6%	365M+14.7%	318M+2.9%	309M	0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.8B+100.0%	$500.0M-51.7%	$1.5B+38.5%	$1.2B+43.0%	$920.5M+23.7%	$1.0B+25.6%	$1.1B+38.5%	$855.4M+133.6%
SG&A Expenses	$174.4M-4.4%	$147.9M-10.0%	$189.3M+56.9%	$166.2M+17.7%	$182.3M+7.1%	$164.3M+8.4%	$120.7M-30.1%	$141.3M+39.0%
Interest Expense	$35.3M+46.5%	$31.2M+39.3%	$27.6M+32.1%	$28.2M+43.9%	$24.1M+23.6%	$22.4M+31.0%	$20.9M+72.7%	$19.6M+206.3%
Income Tax	$36.3M+293.9%	-$17.4M-374.8%	$22.5M+96.9%	$28.9M+108.2%	$9.2M-58.8%	$6.3M+44.8%	$11.4M-57.3%	$13.9M+68.4%
Net Income	$93.4M+525.3%	-$1.5M-105.7%	$77.1M+494.1%	$67.1M+649.2%	$14.9M+206.9%	$25.4M+63.6%	$13.0M-1.5%	$9.0M-38.9%
EPS (Basic)	$0.44+1366.7%	-$0.05-162.5%	$0.46+1050.0%	$0.33+725.0%	$0.03+120.0%	$0.08-11.1%	$0.04-75.0%	$0.04-71.4%
EPS (Diluted)	$0.39+880.0%	-$0.22	$0.30+700.0%	$0.20+350.0%	-$0.05+73.7%	$0.00+100.0%	-$0.05-225.0%	-$0.08+11.1%
Diluted Shares (Avg)	385M+4.1%	384M+3.9%	N/A	378M+3.7%	370M+1.5%	369M+1.4%	N/A	365M+18.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

TPGXL Balance Sheet

TPGXL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Total Assets	$13.5B+28.1%	$10.5B+12.4%	$9.4B+18.0%	$7.9B-11.4%	$9.0B	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
Short-Term Investments	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0
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
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	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$14.0B+17.2%	$13.3B+17.6%	$13.5B+28.1%	$13.0B+23.7%	$12.0B+18.8%	$11.3B+13.8%	$10.5B+12.4%	$10.5B+42.5%
Cash & Equivalents	$944.7M-15.1%	$851.4M+3.6%	$826.1M+2.2%	$1.1B-7.2%	$1.1B-0.8%	$822.0M-24.6%	$808.0M+21.5%	$1.2B-4.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$498.2M+14.2%	$498.2M+14.2%	$498.2M+14.2%	$498.2M+14.2%	$436.1M0.0%	$436.1M0.0%	$436.1M0.0%	$436.1M
Total Liabilities	$10.3B+22.3%	$9.6B+22.6%	$9.4B+34.8%	$9.2B+29.6%	$8.4B+24.3%	$7.8B+17.6%	$6.9B+15.6%	$7.1B+64.3%
Long-Term Debt	$2.3B+45.5%	$2.3B+58.0%	$1.7B+34.4%	$1.8B+34.8%	$1.6B+31.0%	$1.5B+20.7%	$1.3B+35.7%	$1.3B+199.6%
Total Equity	$3.7B+5.1%	$3.7B+6.5%	$4.1B+15.2%	$3.8B+11.4%	$3.6B+7.7%	$3.5B+6.1%	$3.6B+6.9%	$3.4B+11.4%
Retained Earnings	-$406.3M-52.0%	-$397.7M-75.1%	-$291.6M-56.0%	-$294.4M-87.9%	-$267.4M-125.6%	-$227.1M-281.6%	-$187.0M-439.2%	-$156.7M-1971.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

TPGXL Cash Flow Statement

TPGXL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	$972.6M	$1.0B+94.0%	$532.1M-26.1%	$720.5M-47.6%	$1.4B-6.7%	$1.5B+1446.0%	$95.4M
Depreciation & Amortization	N/A	$144.5M+6.8%	$135.4M+184.0%	$47.7M+44.5%	$33.0M+55.4%	$21.2M+197.4%	$7.1M
Stock-Based Compensation	N/A	$813.7M-19.1%	$1.0B+53.7%	$654.9M+4.3%	$627.7M	$0	$0
Investing Cash Flow	-$790.2M	-$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	-$348.9M	-$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	$1.3B+54.6%	$833.4M+26.9%	$656.8M	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$347.7M-9.9%	$176.5M-10.9%	-$43.7M+76.8%	$492.0M+613.8%	$385.9M+79.8%	$198.2M-54.6%	-$188.1M+63.3%	$68.9M-90.0%
Depreciation & Amortization	$41.3M+34.2%	$41.8M+33.0%	$41.3M+8.9%	$41.0M+26.7%	$30.8M-4.0%	$31.4M-4.8%	$37.9M+61.8%	$32.4M+320.7%
Stock-Based Compensation	$231.7M+10.5%	$255.1M+24.0%	N/A	$158.4M-34.7%	$209.6M-7.9%	$205.8M-9.7%	N/A	$242.4M+77.4%
Investing Cash Flow	-$19.5M-530.9%	-$516.3M-8034.0%	-$9.3M-537.2%	-$245.2M-2223.5%	-$3.1M+56.6%	-$6.3M+75.0%	-$1.5M+99.6%	-$10.6M-89.0%
Financing Cash Flow	-$234.3M-152.3%	$365.1M+305.4%	-$201.3M-20.5%	-$278.5M-1787.6%	-$92.8M+47.6%	-$177.8M-1343.5%	-$167.1M-152.9%	-$14.8M+95.9%
Dividends Paid	$280.1M-0.3%	$326.9M+16.7%	$208.3M+4.6%	$518.6M+137.3%	$281.1M+52.7%	$280.2M+21.0%	$199.1M	$218.6M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

TPGXL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TPGXL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
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%+3.0pp	0.0%	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
Debt-to-Equity	0.42+0.1x	0.36+0.1x	0.28+0.1x	0.14-0.1x	0.27	N/A
Asset Turnover	0.350.0x	0.33+0.1x	0.260.0x	0.25-0.3x	0.56	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	5.1%+3.5pp	-0.3%-2.7pp	5.2%+4.0pp	5.5%+4.4pp	1.6%+3.5pp	2.5%+0.6pp	1.2%-0.5pp	1.1%-3.0pp
Return on Equity	2.5%+2.1pp	0.0%-0.8pp	1.9%+1.5pp	1.8%+1.5pp	0.4%+0.8pp	0.7%+0.3pp	0.4%0.0pp	0.3%-0.2pp
Return on Assets	0.7%+0.6pp	0.0%-0.2pp	0.6%+0.5pp	0.5%+0.4pp	0.1%+0.3pp	0.2%+0.1pp	0.1%0.0pp	0.1%-0.1pp
Debt-to-Equity	0.63+0.2x	0.63+0.2x	0.42+0.1x	0.47+0.1x	0.45+0.1x	0.42+0.1x	0.36+0.1x	0.39+0.2x
Asset Turnover	0.13+0.1x	0.04-0.1x	0.110.0x	0.090.0x	0.080.0x	0.090.0x	0.100.0x	0.080.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Where TPG Operating Gp Ranks

Frequently Asked Questions

What is TPG Operating Gp's annual revenue?

TPG Operating Gp (TPGXL) 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 Operating Gp's revenue growing?

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

Is TPG Operating Gp profitable?

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

How much debt does TPG Operating Gp have?

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

What is TPG Operating Gp's net profit margin?

TPG Operating Gp (TPGXL) 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 Operating Gp pay dividends?

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

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

TPG Operating Gp (TPGXL) 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 Operating Gp's operating cash flow?

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

What are TPG Operating Gp's total assets?

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

What is TPG Operating Gp's debt-to-equity ratio?

TPG Operating Gp (TPGXL) 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 Operating Gp's return on assets (ROA)?

TPG Operating Gp (TPGXL) 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 Operating Gp's Piotroski F-Score?

TPG Operating Gp (TPGXL) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are TPG Operating Gp's earnings high quality?

TPG Operating Gp (TPGXL) 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.