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Stocks · Real estate · Real Estate Investment Trusts

TPG RE Finance Trust, Inc.

TRTX Clue Score34
United States Fiscal year ends December CIK 0001630472
$5.87 -1.68% Close, 9 Oct 2026
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Price $5.87 −53.89% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 20 Jul 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
Net income
Fiscal year 2016Net income70.0EPS, diluted1.69Fiscal year 2017Net income94.4 +34.9%EPS, diluted1.74 +3.0%Fiscal year 2018Net income106.9 +13.3%EPS, diluted1.70 −2.3%Fiscal year 2019Net income126.3 +18.1%EPS, diluted1.73 +1.8%Fiscal year 2020Net income−136.8 −208.3%EPS, diluted−2.03 −217.3%Fiscal year 2021Net income138.6EPS, diluted0.87Fiscal year 2022Net income−60.1 −143.4%EPS, diluted−0.95 −209.2%Fiscal year 2023Net income−116.6EPS, diluted−1.69Fiscal year 2024Net income74.3EPS, diluted0.75Fiscal year 2025Net income60.3 −18.9%EPS, diluted0.57 −24.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income 70.0 94.4 106.9 126.3 −136.8 138.6 −60.1 −116.6 74.3 60.3
Growth +34.9% +13.3% +18.1% −208.3% −143.4% −18.9%
EPS, diluted 1.69 1.74 1.70 1.73 −2.03 0.87 −0.95 −1.69 0.75 0.57
Growth +3.0% −2.3% +1.8% −217.3% −209.2% −24.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow85.7Capital expenditure−0.5Free cash flow85.2Fiscal year 2017Operating cash flow91.2Capital expenditure−0.1Free cash flow91.1 +6.8%Fiscal year 2018Operating cash flow107.7Fiscal year 2019Operating cash flow121.7Fiscal year 2020Operating cash flow132.1Fiscal year 2021Operating cash flow132.2Fiscal year 2022Operating cash flow100.5Buybacks0.0Fiscal year 2023Operating cash flow80.1Buybacks0.0Fiscal year 2024Operating cash flow112.1Buybacks−0.0Fiscal year 2025Operating cash flow90.4Buybacks−25.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 85.7 91.2 107.7 121.7 132.1 132.2 100.5 80.1 112.1 90.4
Capital expenditure −0.5 −0.1 n/a n/a n/a n/a n/a n/a n/a n/a
Free cash flow 85.2 91.1 n/a n/a n/a n/a n/a n/a n/a n/a
Growth +6.8%
Buybacks n/a n/a n/a n/a n/a n/a 0.0 0.0 −0.0 −25.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash103.1Shareholders’ equity970.7Fiscal year 2017Cash75.0Shareholders’ equity1,201.3Fiscal year 2018Cash39.7Shareholders’ equity1,327.2Fiscal year 2019Cash79.2Shareholders’ equity1,504.0Fiscal year 2020Cash319.7Shareholders’ equity1,266.9Fiscal year 2021Cash260.6Total debt3,722.2Net cash (debt)−3,461.6Shareholders’ equity1,464.7Debt to equity2.54Fiscal year 2022Cash254.1Total debt4,179.2Net cash (debt)−3,925.2Shareholders’ equity1,322.0Debt to equity3.16Fiscal year 2023Cash206.4Total debt3,048.4Net cash (debt)−2,842.1Shareholders’ equity1,124.8Debt to equity2.71Fiscal year 2024Cash190.2Total debt2,571.7Net cash (debt)−2,381.5Shareholders’ equity1,114.0Debt to equity2.31Fiscal year 2025Cash87.6Total debt3,309.5Net cash (debt)−3,221.8Shareholders’ equity1,068.0Debt to equity3.10
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 103.1 75.0 39.7 79.2 319.7 260.6 254.1 206.4 190.2 87.6
Total debt n/a n/a n/a n/a n/a 3,722.2 4,179.2 3,048.4 2,571.7 3,309.5
Net cash (debt) n/a n/a n/a n/a n/a −3,461.6 −3,925.2 −2,842.1 −2,381.5 −3,221.8
Shareholders’ equity 970.7 1,201.3 1,327.2 1,504.0 1,266.9 1,464.7 1,322.0 1,124.8 1,114.0 1,068.0
Debt to equity n/a n/a n/a n/a n/a 2.54 3.16 2.71 2.31 3.10

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Spending
−0.0% 0.2% 0.3% 0.5% n/a 0.8% n/a n/a 0.5% 0.6%
Returns
7.2% 7.9% 8.1% 8.4% −10.8% 9.5% −4.5% −10.4% 6.7% 5.6%
2.6% 2.8% 2.4% 2.1% −2.8% 2.7% −1.1% −2.8% 2.0% 1.4%
Balance and payout
n/a n/a n/a n/a n/a 2.54 3.16 2.71 2.31 3.10
63.6% 64.2% 70.7% 74.5% 70.1% 71.9% 76.2% 73.3% 70.1% 75.8%