What is Tpg Re Finance T's earnings per share (EPS)?

Tpg Re Finance T (TRTX) reported diluted earnings per share of $0.57 for fiscal year 2025. This represents a -24.0% 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 Re Finance T Financials

TRTX

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

This page shows Tpg Re Finance T (TRTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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

4/9

Tpg Re Finance T passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

1.50x

For every $1 of reported earnings, Tpg Re Finance T generates $1.50 in operating cash flow ($90.4M OCF vs $60.3M 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

N/A

EBITDA

N/A

Net Income

$60.3M

YoY-18.9%

10Y CAGR+0.2%

Tpg Re Finance T reported $60.3M in net income in fiscal year 2025. This represents a decrease of 18.9% from the prior year.

EPS (Diluted)

$0.57

YoY-24.0%

10Y CAGR-10.9%

Tpg Re Finance T earned $0.57 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 24.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$87.6M

YoY-53.9%

5Y CAGR-22.8%

10Y CAGR-1.8%

Tpg Re Finance T held $87.6M in cash against $3.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.96

YoY+0.0%

5Y CAGR-4.5%

10Y CAGR-6.6%

Tpg Re Finance T paid $0.96 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

78M

YoY-3.3%

5Y CAGR+0.4%

Tpg Re Finance T had 78M shares outstanding in fiscal year 2025. This represents a decrease of 3.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

5.7%

YoY-1.0pp

5Y CAGR+16.4pp

10Y CAGR-2.6pp

Tpg Re Finance T's ROE was 5.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$25.3M

YoY+68410.8%

Tpg Re Finance T spent $25.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 68410.8% from the prior year.

Capital Expenditures

N/A

TRTX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
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	$4.3M+0.2%	$4.3M+10.9%	$3.8M-12.6%	$4.4M+0.2%	$4.4M+22.1%	$3.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$186.5M-6.2%	$198.9M-27.4%	$273.9M+70.4%	$160.8M+88.9%	$85.1M-20.7%	$107.2M
Income Tax	$378K-5.3%	$399K+54.1%	$259K-51.1%	$530K-50.2%	$1.1M+248.9%	$305K
Net Income	$60.3M-18.9%	$74.3M+163.7%	-$116.6M-94.2%	-$60.1M-143.4%	$138.6M+201.3%	-$136.8M
EPS (Diluted)	$0.57-24.0%	$0.75+144.4%	$-1.69-77.9%	$-0.95-209.2%	$0.87+142.9%	$-2.03

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	$998K+0.9%	$989K-10.2%	$1.1M	N/A	$1.1M-10.4%	$1.2M+20.3%	$986K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	$48.8M+7.2%	$45.5M+5.5%	$43.1M	N/A	$48.6M-4.0%	$50.6M-8.7%	$55.4M
Income Tax	N/A	$109K-14.8%	$128K+128.6%	$56K	N/A	$66K-34.0%	$100K-74.4%	$390K
Net Income	N/A	$22.0M+6.6%	$20.6M+50.4%	$13.7M	N/A	$22.2M-10.2%	$24.7M+47.6%	$16.7M
EPS (Diluted)	N/A	$0.23+9.5%	$0.21+75.0%	$0.12	N/A	$0.23-11.5%	$0.26+52.9%	$0.17

TRTX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.4B+18.1%	$3.7B-11.5%	$4.2B-24.0%	$5.5B+6.3%	$5.2B+6.3%	$4.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$87.6M-53.9%	$190.2M-7.9%	$206.4M-18.8%	$254.1M-2.5%	$260.6M-18.5%	$319.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0-100.0%	$10K-75.0%	$40K-94.0%	$666K+5450.0%	$12K-98.5%	$785K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.3B+27.5%	$2.6B-15.3%	$3.1B-26.8%	$4.2B+12.5%	$3.8B+9.0%	$3.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.3B+28.7%	$2.6B-15.6%	$3.0B-27.1%	$4.2B+12.3%	$3.7B	N/A
Total Equity	$1.1B-4.1%	$1.1B-1.0%	$1.1B-14.9%	$1.3B-9.7%	$1.5B+15.6%	$1.3B
Retained Earnings	-$672.6M-9.0%	-$617.2M-2.8%	-$600.3M-52.0%	-$395.0M-59.8%	-$247.3M+15.6%	-$292.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.4B+8.4%	$4.1B-2.3%	$4.2B+5.1%	$4.0B+6.2%	$3.7B+1.9%	$3.7B-0.9%	$3.7B-3.5%	$3.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$87.6M-6.4%	$93.6M-43.6%	$165.8M-54.3%	$363.0M+90.9%	$190.2M-16.0%	$226.3M-12.7%	$259.2M+27.7%	$203.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0	$0-100.0%	$10K-88.1%	$84K+740.0%	$10K0.0%	$10K0.0%	$10K-16.7%	$12K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.3B+11.9%	$3.0B-2.9%	$3.1B+7.4%	$2.9B+9.2%	$2.6B+3.2%	$2.5B-1.4%	$2.6B-5.0%	$2.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.3B+12.3%	$2.9B-3.0%	$3.0B+7.5%	$2.8B+9.9%	$2.6B+3.2%	$2.5B-1.4%	$2.5B-5.1%	$2.7B
Total Equity	$1.1B-1.3%	$1.1B-0.8%	$1.1B-1.2%	$1.1B-0.9%	$1.1B-0.9%	$1.1B0.0%	$1.1B+0.3%	$1.1B
Retained Earnings	-$672.6M-2.9%	-$653.7M-1.5%	-$644.2M-2.3%	-$629.7M-2.0%	-$617.2M-2.1%	-$604.8M-0.1%	-$604.1M+0.3%	-$605.8M

TRTX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$90.4M-19.4%	$112.1M+39.9%	$80.1M-20.3%	$100.5M-24.0%	$132.2M+0.1%	$132.1M
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	-$789.7M-279.3%	$440.5M-59.8%	$1.1B+342.0%	-$452.6M-32.0%	-$342.9M-135.5%	$964.6M
Financing Cash Flow	$597.1M+204.9%	-$569.2M+53.5%	-$1.2B-454.1%	$345.3M+127.0%	$152.1M+117.8%	-$856.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$25.3M+68410.8%	$37K	$0	$0	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$24.7M+12.9%	$21.8M-11.7%	$24.7M+29.2%	$19.1M-25.0%	$25.5M+7.5%	$23.7M-7.2%	$25.6M-31.6%	$37.4M
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	-$361.4M-1326.5%	$29.5M+106.3%	-$465.3M-6264.3%	$7.5M+106.4%	-$117.8M-3674.2%	$3.3M-98.3%	$189.5M-48.2%	$365.5M
Financing Cash Flow	$330.6M+368.2%	-$123.3M-150.6%	$243.5M+66.5%	$146.3M+161.4%	$56.0M+193.4%	-$59.9M+62.2%	-$158.6M+61.0%	-$406.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$387K-95.8%	$9.3M-28.1%	$12.9M+362.4%	$2.8M	$0-100.0%	$37K	$0	$0

TRTX 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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	5.7%-1.0pp	6.7%+17.0pp	-10.4%-5.8pp	-4.5%-14.0pp	9.5%+20.3pp	-10.8%
Return on Assets	1.4%-0.6pp	2.0%+4.8pp	-2.8%-1.7pp	-1.1%-3.7pp	2.7%+5.5pp	-2.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.10+0.8	2.31-0.4	2.71-0.5	3.16+0.6	2.54-0.2	2.72
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	Q3'24	Q2'24	Q1'24
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	2.0%+0.1pp	1.9%+0.7pp	1.2%	N/A	2.0%-0.2pp	2.2%+0.7pp	1.5%
Return on Assets	N/A	0.5%+0.0pp	0.5%+0.1pp	0.4%	N/A	0.6%-0.1pp	0.7%+0.2pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.10+0.4	2.72-0.1	2.78+0.2	2.56+0.3	2.31+0.1	2.22-0.0	2.25-0.1	2.38
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

Is Tpg Re Finance T profitable?

Yes, Tpg Re Finance T (TRTX) reported a net income of $60.3M in fiscal year 2025.

How much debt does Tpg Re Finance T have?

As of fiscal year 2025, Tpg Re Finance T (TRTX) had $87.6M in cash and equivalents against $3.3B in long-term debt.

Does Tpg Re Finance T pay dividends?

Yes, Tpg Re Finance T (TRTX) paid $0.96 per share in dividends during fiscal year 2025.

What is Tpg Re Finance T's return on equity (ROE)?

Tpg Re Finance T (TRTX) has a return on equity of 5.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tpg Re Finance T's operating cash flow?

Tpg Re Finance T (TRTX) generated $90.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tpg Re Finance T's total assets?

Tpg Re Finance T (TRTX) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Tpg Re Finance T buy back shares?

Yes, Tpg Re Finance T (TRTX) spent $25.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Tpg Re Finance T have outstanding?

Tpg Re Finance T (TRTX) had 78M shares outstanding as of fiscal year 2025.

What is Tpg Re Finance T's debt-to-equity ratio?

Tpg Re Finance T (TRTX) had a debt-to-equity ratio of 3.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tpg Re Finance T's return on assets (ROA)?

Tpg Re Finance T (TRTX) 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 Re Finance T's Piotroski F-Score?

Tpg Re Finance T (TRTX) has a Piotroski F-Score of 4 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 Re Finance T's earnings high quality?

Tpg Re Finance T (TRTX) has an earnings quality ratio of 1.50x, 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.