TPG RE Finance Trust, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Interest expense | — | — | $273.9M | $160.8M | $85.1M |
| Pretax income | $60.7M | $74.7M | -$116.4M | -$59.5M | $139.6M |
| Income tax expense | $378,000 | $399,000 | $259,000 | $530,000 | $1.1M |
| Net income | $60.3M | $74.3M | -$116.6M | -$60.1M | $138.6M |
| Balance Sheet | |||||
| Cash and equivalents | $87.6M | $190.2M | $206.4M | $254.1M | $260.6M |
| Total assets | $4.4B | $3.7B | $4.2B | $5.5B | $5.2B |
| Total liabilities | $3.3B | $2.6B | $3.1B | $4.2B | $3.8B |
| Total debt | $3.3B | $2.6B | $3.0B | $4.2B | $3.7B |
| Stockholders' equity | $1.1B | $1.1B | $1.1B | $1.3B | $1.5B |
| Cash Flow Statement | |||||
| Cash from operations | $90.4M | $112.1M | $80.1M | $100.5M | $132.2M |
| Depreciation and amortization | $7.7M | $6.0M | $1.0M | — | — |
| Stock-based compensation | $9.8M | $6.4M | $8.0M | $5.1M | $5.8M |
| Capital expenditure | $990,000 | $298,000 | $315,000 | $0 | $0 |
| Free cash flow | $89.4M | $111.8M | $79.8M | $100.5M | $132.2M |
| Dividends paid | $77.9M | $78.7M | $76.0M | $75.1M | $73.8M |
| Share repurchases | $25.3M | $37,000 | $0 | $0 | — |
Shares outstanding 77.3M · Free float 70.5%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.