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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$663.3M
P/E Ratio10.12
ROE6.05%

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid—$242K—$603K$359K$8K
Income taxes paid$100K$13K$258K$0$19K$287K
Interest paid$42.8M$42.2M$43.4M$47.9M$46.2M$46.3M
Capital expenditures incurred but not yet paid—$242K—$603K$359K$8K
Capital Expenditures Incurred but Not Yet Paid—$242K—$603K$359K$8K
Non-cash Debt Issuance Costs$0$111K$51K$343K—$73K

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-$19K$221K—$698K—-$180K
Change in accrued investment income-$3.4M$1.9M$1.4M$1.3M—$1.2M
Change in accrued liabilities-$1.8M-$905K—$2.4M—-$1.4M
Change in deferred revenue$564K-$591K$1.5M—$138K-$622K
Change in other assets-$1.6M$445K-$2.1M——-$4.2M
Depreciation and amortization$4.1M$4M$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$22M$4M$18.9M
Accrued Paid-In-Kind Interest$164K$163K$169K$173K$177K$181K
Amortization And Accretion Of Premiums Discounts And Loan Origination Fees Net$919K$847K$888K$1.5M$1.5M$1.9M
Amortization of above and below Market Leases-$15K$63K$9K-$98K-$68K-$66K
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-$905K—$2.4M—-$1.4M
Deferred revenue$564K-$591K$1.5M—$138K-$622K
Increase (Decrease) in Other Operating Assets-$1.6M$445K-$2.1M——-$4.2M
Depreciation and amortization$4.1M$4M$3.4M$2.7M$2.6M$2.6M
Stock-based compensation$1.9M$2M$2M$1.4M$4.4M$2.1M
Change in Interest Payable$0-$1.1M$883K-$379K$714K$351K

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Changes in money pool with Exelon$4K$42K$41K$43K$37K$41K
Payment For Proceeds From Financing Costs$54K$10.9M$527K$915K$9.1M$83K
Proceeds From Issuance Of First Mortgage Bond$0$890.9M$69.2M$0$957M$0
Repayments Of First Mortgage Bond$45.3M$131.2M$61.2M$222.9M$591.2M$46.9M
Net cash from financing activities$0$146.3M$243.5M—$330.6M$45.9M
Repurchases of common stock$0$2.8M$12.9M$9.3M$387K$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$665.7M$262.5M$836.7M$134.1M
Payment for Acquisition, Real Estate, Held-for-Investment$1.9M$512K$852K$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—
Payments for and Proceeds from Loans Receivable$223.1M$0$665.7M$262.5M$836.7M$134.1M
Net cash from investing activities—$7.5M-$465.3M$0-$361.4M-$66.2M
Net change in loans and leases$223.1M$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$173M-$197M-$72M-$6.2M$4.2M
Accrued payables for capital expenditures—$242K—$603K$359K$8K
Collateralized loan obligation proceeds held at trustee$0$69.2M—$42.5M—$0
Accrued costs from retired common stock—$396K———$300K
Loan sale hold back$0$0$0$0$0—
Principal repayments of loans held for investment held by servicer/trustee, net$0$0$0$72M-$72M$43.2M