What is TPG RE Finance Trust, Inc.'s market cap?

TPG RE Finance Trust, Inc. (TRTX) has a market capitalization of $670.3M and trades on NYSE.

What is TPG RE Finance Trust, Inc.'s revenue and profitability?

TPG RE Finance Trust, Inc. generated $296.4M in trailing twelve-month revenue with net income of $65.5M, representing a net margin of 22.1%, with free cash flow of $95.0M. These figures are based on the Q1 2026 filing.

Who are TPG RE Finance Trust, Inc.'s competitors?

TPG RE Finance Trust, Inc.'s key competitors include Blackstone Mortgage Trust, Inc., Apollo Commercial Real Estate Finance, Inc., Starwood Property Trust, Inc., and others. These companies compete in similar markets and product categories.

Who does TPG RE Finance Trust, Inc. partner with?

TPG RE Finance Trust, Inc.'s notable partners include TPG Inc..

What subsidiaries does TPG RE Finance Trust, Inc. have?

TPG RE Finance Trust, Inc.'s subsidiaries include TPG RE Finance Trust Holdco, LLC.

Where is TPG RE Finance Trust, Inc. headquartered?

TPG RE Finance Trust, Inc. is headquartered in United States of America. It has been publicly traded since 2017.

TPG RE Finance Trust, Inc.

TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company that specializes in the direct origination and acquisition of commercial real estate-related credit assets.

Market cap

$670.26M+1.5%

Revenue$296.4M+1.2%

Net income$65.5M-8.1%

Free cash flow$95.0M+1.2%

EPS (diluted)$0.64-8.6%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

April 28, 2026

Revenue$37.2MIn line EPS$0.25In line

Read the full report

Next report

Jul 28, 2026 (In 4 days)

Revenue estimate$37.3M

EPS estimate$0.25

Financials

Q1 2026

Income statement

See full

Revenue$74.2M+9.0%

Net income$18.9M+38.0%

EPS (diluted)$0.19+58.3%

Balance sheet

See full

Cash & equivalents$15.0M-95.9%

Total debt$3.8B—

Total equity$1.1B-3.8%

Total assets$4.5B+12.9%

Cash flow

See full

Operating cash flow$24.6M+28.4%

CapEx$8.0K-96.7%

Free cash flow$24.6M+30.0%

Valuation & ratios

Valuation

See full

Market cap$670.26M+1.5%

Enterprise value$4.48B—

P/E10.2×+0.4×

P/S2.3×-0.1×

Profitability

See full

Net margin22.1%-2.2pp

FCF margin32.1%0.0pp

Returns & leverage

See full

Return on equity6.1%-0.4pp

Debt / equity3.6×—

Competitors

By market cap

Starwood Property Trust$6.1B-16.7%

Blackstone Mortgage Trust$2.8B-16.3%

Apollo Commercial Real Estate Finance$887.8M-35.1%

TPG RE Finance Trust, Inc.$670.3M+1.5%

KKR Real Estate Finance Trust$476.5M-20.0%

Claros Mortgage Trust$321.1M-32.0%

Seven Hills Realty Trust$183.3M+13.0%

Granite Point Mortgage Trust$65.6M-47.4%

By revenue growth

Granite Point Mortgage Trust+38.7%

KKR Real Estate Finance Trust+18.6%

Starwood Property Trust+5.3%

TPG RE Finance Trust, Inc.+1.2%

Apollo Commercial Real Estate Finance-8.5%

Seven Hills Realty Trust-10.1%

Claros Mortgage Trust-25.3%

By net margin

Seven Hills Realty Trust50.74%-0.4pp

Apollo Commercial Real Estate Finance48.02%+94.5pp

TPG RE Finance Trust, Inc.22.11%-2.2pp

Starwood Property Trust18.11%+0.9pp

Blackstone Mortgage Trust0.361%—

Claros Mortgage Trust-267.13%-161pp

Granite Point Mortgage Trust-294.84%+1,270pp

KKR Real Estate Finance Trust-1,170.85%-1,008pp

Profile

TPG RE Finance Trust, Inc. is a commercial real estate finance company that specializes in the direct origination and acquisition of commercial real estate-related credit assets. The company focuses on first mortgage loans secured by institutional-quality properties undergoing transition or repositioning. It operates as a REIT and leverages the global alternative asset management platform of TPG to source and manage its portfolio.

Competitive position

A specialized commercial mortgage REIT backed by the extensive resources and deal flow of TPG's global real estate platform.

GeographiesUnited States

Customer segmentsInstitutional Investors, Commercial Property Owners

Business modelDirect Lending, Asset Management, REIT

SuppliersCapital Markets, Warehouse Financing Providers, TPG Management Services

CustomersCommercial Real Estate Borrowers, Property Owners undergoing repositioning

CountryUnited States of America

Listed2017

CEODoug Bouquard

SectorReal Estate

IndustryREIT - Mortgage

Websitetpgrefinance.com

FilingsSEC EDGAR

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Questions, answered.

What is TPG RE Finance Trust, Inc.'s market cap?: TPG RE Finance Trust, Inc. (TRTX) has a market capitalization of $670.3M and trades on NYSE.
What is TPG RE Finance Trust, Inc.'s revenue and profitability?: TPG RE Finance Trust, Inc. generated $296.4M in trailing twelve-month revenue with net income of $65.5M, representing a net margin of 22.1%, with free cash flow of $95.0M. These figures are based on the Q1 2026 filing.
Who are TPG RE Finance Trust, Inc.'s competitors?: TPG RE Finance Trust, Inc.'s key competitors include Blackstone Mortgage Trust, Inc., Apollo Commercial Real Estate Finance, Inc., Starwood Property Trust, Inc., and others. These companies compete in similar markets and product categories.
Who does TPG RE Finance Trust, Inc. partner with?: TPG RE Finance Trust, Inc.'s notable partners include TPG Inc..
What subsidiaries does TPG RE Finance Trust, Inc. have?: TPG RE Finance Trust, Inc.'s subsidiaries include TPG RE Finance Trust Holdco, LLC.
Where is TPG RE Finance Trust, Inc. headquartered?: TPG RE Finance Trust, Inc. is headquartered in United States of America. It has been publicly traded since 2017.