Income StatementBalance SheetCash FlowSegments
TPG RE Finance Trust, Inc. logo

TPG RE Finance Trust, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

TPG RE Finance Trust, Inc. generated $95.8M in operating cash flow over the trailing twelve months. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$95.8MNet Cash From Investing (TTM)-$893.0MNet Cash From Financing (TTM)$329.9MDepreciation And Amortization Cf (TTM)$11.3MNet Change In Cash (TTM)-$271.0M
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$652.5M
P/E Ratio9.96
ROE6.05%

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid—$242.0K—$603.0K$359.0K$8.0K
Income taxes paid$100.0K$13.0K$258.0K$0.0$19.0K$287.0K
Interest paid$42.8M$42.2M$43.4M$47.9M$46.2M$46.3M
Capital expenditures incurred but not yet paid—$242.0K—$603.0K$359.0K$8.0K
Capital Expenditures Incurred but Not Yet Paid—$242.0K—$603.0K$359.0K$8.0K
Non-cash Debt Issuance Costs$0.0$111.0K$51.0K$343.0K—$73.0K

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$1.5M$2.1M$1.3M$1.3M$1.9M$1.8M
Change in accounts receivable-$19.0K$221.0K—$698.0K—-$180.0K
Change in accrued investment income-$3.4M$1.9M$1.4M$1.3M—$1.2M
Change in accrued liabilities-$1.8M-$905.0K—$2.4M—-$1.4M
Change in deferred revenue$564.0K-$591.0K$1.5M—$138.0K-$622.0K
Change in other assets-$1.6M$445.0K-$2.1M——-$4.2M
Depreciation and amortization$4.1M$4.0M$3.4M$2.7M$2.6M$2.6M
Net cash from operating activities$25.5M$19.1M$24.7M$21.8M$24.7M$24.6M
Net income$10.7M$13.7M$20.6M$22.0M$4.0M$18.9M
Accrued Paid-In-Kind Interest$164.0K$163.0K$169.0K$173.0K$177.0K$181.0K
Amortization And Accretion Of Premiums Discounts And Loan Origination Fees Net$919.0K$847.0K$888.0K$1.5M$1.5M$1.9M
Amortization of above and below Market Leases-$15.0K$63.0K$9.0K-$98.0K-$68.0K-$66.0K
Non-cash interest expense$1.5M$2.1M$1.3M$1.3M$1.9M$1.8M
Increase (Decrease) in Accrued Interest Receivable, Net-$3.4M$1.9M$1.4M$1.3M—$1.2M
Accrued expenses and other liabilities-$1.8M-$905.0K—$2.4M—-$1.4M
Deferred revenue$564.0K-$591.0K$1.5M—$138.0K-$622.0K
Increase (Decrease) in Other Operating Assets-$1.6M$445.0K-$2.1M——-$4.2M
Depreciation and amortization$4.1M$4.0M$3.4M$2.7M$2.6M$2.6M
Stock-based compensation$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
Change in Interest Payable$0.0-$1.1M$883.0K-$379.0K$714.0K$351.0K

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Changes in money pool with Exelon$4.0K$42.0K$41.0K$43.0K$37.0K$41.0K
Payment For Proceeds From Financing Costs$54.0K$10.9M$527.0K$915.0K$9.1M$83.0K
Proceeds From Issuance Of First Mortgage Bond$0.0$890.9M$69.2M$0.0$957.0M$0.0
Repayments Of First Mortgage Bond$45.3M$131.2M$61.2M$222.9M$591.2M$46.9M
Net cash from financing activities$0.0$146.3M$243.5M—$330.6M$45.9M
Repurchases of common stock$0.0$2.8M$12.9M$9.3M$387.0K$4.2M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Initial funding of loan$4.5M$13.4M$8.6M$8.1M$11.7M$14.5M
Payments for (Proceeds from) Loans Receivable$223.1M$0.0$665.7M$262.5M$836.7M$134.1M
Payment for Acquisition, Real Estate, Held-for-Investment$1.9M$512.0K$852.0K$1.2M$3.5M$2.1M
Cash assumed from conversion of loans held for investment to real estate owned$395.8K$0.0$0.0$0.0$0.0—
Payments for and Proceeds from Loans Receivable$223.1M$0.0$665.7M$262.5M$836.7M$134.1M
Net cash from investing activities—$7.5M-$465.3M$0.0-$361.4M-$66.2M
Net change in loans and leases$223.1M$0.0$665.7M$262.5M$836.7M$134.1M
Proceeds from Principal Repayments on Loans and Leases$110.2M$21.5M$170.5M$301.3M$490.6M$84.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash-$36.3M$173.0M-$197.0M-$72.0M-$6.2M$4.2M
Accrued payables for capital expenditures—$242.0K—$603.0K$359.0K$8.0K
Collateralized loan obligation proceeds held at trustee$0.0$69.2M—$42.5M—$0.0
Accrued costs from retired common stock—$396.0K———$300.0K
Loan sale hold back$0.0$0.0$0.0$0.0$0.0—
Principal repayments of loans held for investment held by servicer/trustee, net$0.0$0.0$0.0$72.0M-$72.0M$43.2M