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

TPG RE Finance Trust, Inc. Income Statement

Revenue, expenses, and profitability over time

TPG RE Finance Trust, Inc. generated $296.4M in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $65.5M with a 22.11% net margin. Diluted EPS is $0.64, which declined 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$296.4MNet Income (TTM)$65.5MEps Diluted (TTM)$0.64
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$652.5M
P/E Ratio9.96
ROE6.05%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
Share-Based Compensation Expense$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
Compensation and benefits$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
General and administrative$1.0M$1.1M$989.0K$998.0K$1.2M$910.0K
Stock-based compensation expense$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
Other expenses$19.6M$19.8M$20.6M$18.3M$19.7M$18.5M
Other operating expenses$19.6M$19.8M$20.6M$18.3M$19.7M$18.5M
Professional fees$1.3M$788.0K$1.6M$1.8M$1.7M$1.5M
Provision for credit losses$4.6M$3.4M$1.8M-$2.6M$11.3M-$286.0K
Share-Based Compensation$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income applicable to common shareholders$6.9M$10.0M$16.9M$18.4M$189.0K$15.2M
Net earnings to common$6.9M$10.0M$16.9M$18.4M$189.0K$15.2M
Net Income Available to Common Shareholders$6.9M$10.0M$16.9M$18.4M$189.0K$15.2M
Net income$10.7M$13.7M$20.6M$22.0M$4.0M$18.9M
Net income attributable to common stock$6.9M$10.0M$16.9M$18.4M$189.0K$15.2M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reclassifications Net of Tax$6.9M$10.0M$16.9M$18.4M$189.0K$15.2M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$10.7M$13.7M$20.6M$22.0M$4.0M$18.9M
Expenses from real estate owned operations$9.8M$10.4M$10.3M$8.3M$7.0M$8.3M
Provision for credit losses$4.6M$3.4M$1.8M—$11.3M-$286.0K
Interest Income (Expense), Operating$24.7M$24.9M$25.1M$28.3M$25.4M$25.7M
Interest Income Operating$69.0M$68.0M$70.7M$77.1M$74.4M$74.2M
Management fees$5.1M$5.2M$5.2M$5.2M$5.3M$5.3M
Total other income$2.5M$1.9M$2.8M$1.6M$1.8M$3.3M
Preferred Stock Dividends And Participating Securities Share In Earnings Loss$3.8M$3.8M$3.8M$3.5M$3.8M$3.8M
Total provisions for credit losses$4.6M$3.4M$1.8M-$2.6M$11.3M-$286.0K
Revenue from real estate owned operations$7.5M$10.3M$8.2M$8.0M$7.8M$8.3M
Servicing and asset management fees$464.0K$422.0K$592.0K$647.0K$151.0K$525.0K
Stock-based compensation$1.9M$2.0M$2.0M$1.4M$4.4M$2.1M
Other Comprehensive Income (Loss)$10.7M$13.7M$20.6M$22.0M$4.0M$18.9M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.09$0.12$0.21$0.23$0.01$0.19
Diluted earnings per share$0.09$0.12$0.21$0.23$0.01$0.19
Weighted-average shares, basic379.4K81M79.5M78.5M—78.3M
Weighted-average shares, diluted—81.8M80.2M78.8M—79.1M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$10.5M$13.8M$20.8M$22.1M$4.1M$19.1M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense—$56.0K$128.0K$109.0K$85.0K$112.0K

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$44.3M$43.1M$45.5M$48.8M$49.0M$48.5M
Other income (expense), net$2.5M$1.9M$2.8M$1.6M$1.8M$3.3M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net interest income$24.7M$24.9M$25.1M$28.3M$25.4M$25.7M
Total interest income$69.0M$68.0M$70.7M$77.1M$74.4M$74.2M
Total noninterest income$10.1M$12.1M$11.1M$9.6M$9.6M$11.6M
Total revenue$69.0M$68.0M$70.7M$77.1M$74.4M$74.2M