TRTX
TPG RE Finance Trust Inc
NYSE: TRTX · REAL ESTATE · REIT - MORTGAGE
$8.46
+1.81% today
Updated 2026-04-30
Market cap
$661.31M
P/E ratio
14.81
P/S ratio
5.00x
EPS (TTM)
$0.57
Dividend yield
11.50%
52W range
$6 – $9
Volume
0.7M
TPG RE Finance Trust Inc (TRTX) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.85M | $77.13M | $88.77M | $119.26M | $138.23M | $164.89M | $-27.66M | $169.81M | $305.71M | $-73.52M | $148.97M | $332.57M |
| Revenue growth (YoY) | — | +4075.7% | +15.1% | +34.3% | +15.9% | +19.3% | -116.8% | +713.8% | +80.0% | -124.0% | +302.6% | +123.3% |
| Cost of revenue | $1.61M | $19.39M | $78.65M | $24.86M | $29.56M | $34.27M | $22.01M | $15.79M | $13.29M | $7.53M | $35.63M | $68.83M |
| Gross profit | $235000.00 | $77.13M | $10.12M | $119.26M | $138.23M | $164.89M | $-27.66M | $154.02M | $142.98M | $-81.05M | $113.34M | $263.75M |
| Gross margin | 12.7% | 100.0% | 11.4% | 100.0% | 100.0% | 100.0% | 100.0% | 90.7% | 46.8% | 110.2% | 76.1% | 79.3% |
| R&D | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $1.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | — | $2.04M | $3.02M | $3.20M | $4.04M | $5.56M | $9.37M | $10.15M | $9.45M | $34.32M | $32.22M | $10.11M |
| Operating income | $-8.25M | $108.53M | $131.61M | $172.77M | $233.31M | $126.89M | $-136.52M | $139.61M | $87.93M | $-123.40M | $74.73M | $242.69M |
| Operating margin | -446.6% | 140.7% | 148.3% | 144.9% | 168.8% | 77.0% | 493.5% | 82.2% | 28.8% | 167.8% | 50.2% | 73.0% |
| EBITDA | $-8.25M | $108.53M | $154.05M | $172.77M | $233.31M | $126.89M | $-147.61M | $148.30M | $305.71M | $2.60M | $291.14M | $262.38M |
| EBITDA margin | -446.6% | 140.7% | 173.5% | 144.9% | 168.8% | 77.0% | 533.6% | 87.3% | 100.0% | -3.5% | 195.4% | 78.9% |
| EBIT | — | $108.53M | $69.96M | $172.77M | $233.31M | $126.89M | $-136.52M | $139.61M | $87.93M | $-235.71M | $276.19M | $249.66M |
| Interest expense | — | $47.56M | $61.65M | $78.27M | $126.03M | $174.84M | $107.24M | $85.09M | $160.75M | $273.86M | $198.85M | $188.96M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-8.25M | $59.35M | $69.97M | $94.35M | $106.94M | $126.31M | $-136.83M | $138.55M | $-60.07M | $-116.63M | $74.33M | $60.32M |
| Net income growth (YoY) | — | +819.6% | +17.9% | +34.9% | +13.3% | +18.1% | -208.3% | +201.3% | -143.4% | -94.2% | +163.7% | -18.9% |
| Profit margin | -446.6% | 77.0% | 78.8% | 79.1% | 77.4% | 76.6% | 494.6% | 81.6% | -19.6% | 158.6% | 49.9% | 18.1% |