TPG RE Finance Trust, Inc. (New York Stock Exchange:TRTX)
Insiders here have filed 4 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Keeps a healthy share of every dollar it sells.
- Revenue
- $345.8M
- Net income
- $45.4M
- Net margin
- 13.1%
Heavily indebted for what it earns.
- Total debt
- $4.17B
- Cash
- $70.8M
- Net debt / EBITDA
- 15.97x
Comfortably covers what is due within a year.
- Current assets
- $116.0M
- Current liabilities
- $45.2M
- Current ratio
- 2.57
The business funds itself from operations.
- Operating cash flow
- $85.2M
- Free cash flow
- $74.5M
- FCF margin
- 21.5%
Not funding itself by issuing shares.
- Shares outstanding
- 76.3M
- Share growth (1y)
- -2.8%
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
TRTX Income Statement
| Fiscal Period | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 |
| Revenue | 91.58 M | 84.39 M | 85.77 M | 84.02 M | 86.66 M | 82.23 M |
| Revenue Growth (YoY) | 5.68 % | 2.64 % | 8.71 % | 6.60 % | -2.06 % | -8.28 % |
| Cost of Revenue | 13.90 M | 12.86 M | 16.69 M | 12.56 M | 16.89 M | 19.87 M |
| Gross Profit | 77.68 M | 71.54 M | 69.08 M | 71.46 M | 69.77 M | 62.35 M |
| SG&A Expense | 890.00 K | 4.35 M | 0.00 | 0.00 | 0.00 | 0.00 |
| R&D Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 12.55 M | 7.92 M | 1.57 M | 15.93 M | -1.15 M | 2.44 M |
| Operating Income | 65.13 M | 63.62 M | 67.51 M | 55.54 M | 70.92 M | 59.91 M |
| Pretax Income | 9.47 M | 13.23 M | 19.05 M | 4.06 M | 22.10 M | 20.76 M |
| Tax Provision | 104.00 K | 101.00 K | 112.00 K | 85.00 K | 109.00 K | 128.00 K |
| Net Income | 9.37 M | 13.13 M | 18.94 M | 3.98 M | 21.99 M | 20.63 M |
| EPS (Basic) | 0.08 | 0.12 | 0.19 | 0.00 | 0.24 | 0.21 |
| EPS (Diluted) | 0.08 | 0.12 | 0.19 | 0.00 | 0.23 | 0.21 |
| Shares Outstanding | 76.33 M | 77.04 M | 78.25 M | 78.32 M | 78.52 M | 79.47 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.