TPG Inc. (TPG) 10-Year Financial Performance & Capital Metrics

TPG • • Banking & Credit

Financial ServicesAsset ManagementAlternative Asset ManagementPrivate Equity & Real Asset Managers

AboutTPG Inc. operates as an alternative asset manager worldwide. It offers investment management services to unconsolidated funds, collateralized loan obligations, and other vehicles; monitoring services to portfolio companies; advisory services, debt and equity arrangements, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies. The company invests in private equity funds, real estate funds, fund of hedge funds, and credit funds. TPG Inc. was founded in 1992 and is headquartered in Fort Worth, Texas. TPG Inc. operates as a subsidiary of TPG GP A, LLC.Show more

Net Interest Income -$5M -216.5%
Total Revenue $2.62B +41.4%
Net Income $23M -70.7%
Return on Equity 0.68% -72.8%
Net Interest Margin -0.05% -203.6%
Efficiency Ratio 97.61% +4.5%
ROA 0.24% -74.5%
Equity / Assets 34.1% -5.0%
Book Value per Share 9.85 -6.8%
Tangible BV/Share 7.19 +0.5%
Debt/Equity 0.44 +17.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Well capitalized: 34.1% equity/assets
✓Healthy dividend yield of 3.4%
✓Diversified revenue: 96.8% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 1.6%
✗Profits declining 45.3% over 5 years
✗Weak NIM of -0.0%
✗High cost structure: 97.6% efficiency ratio
✗Dividend payout exceeds 100% of earnings
✗Shares diluted 14.7% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y4.02%

3Y-22.25%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-45.32%

3Y-77.92%

TTM966.67%

EPS CAGR

10Y-

5Y-67.25%

3Y-90.07%

TTM264.76%

ROCE

10Y Avg17.48%

5Y Avg16.62%

3Y Avg0.15%

Latest-0.25%

Peer Comparison

Private Equity & Real Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TPGTPG Inc.	9.85B	67.27	1044.57	41.37%	0.9%	6.69%	5.11%	0.44
GCMGGCM Grosvenor Inc.	2.18B	11.68	340.52	15.82%	3.57%	8.9%	6.05%
BNBrookfield Corporation	106.23B	47.33	228.98	-10.34%	0.75%	0.61%		1.42
BXBlackstone Inc.	118.75B	160.81	44.42	52.91%	24.41%	13.59%	2.88%	0.63
BAMBrookfield Asset Management Ltd.	83.91B	52.04	40.66	-2.02%	54.47%	22.06%	2.21%	0.07
KKRKKR & Co. Inc.	117.05B	131.32	40.04	51.09%	14.22%	4.36%	5.56%	0.82
PAXPatria Investments Limited	1.13B	17.43	37.09	14.22%	19.21%	17.64%	12.14%	0.51
HLNEHamilton Lane Incorporated	6.76B	153.84	28.44	28.73%	30.49%	19.91%	4.6%	0.40

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	1.2M	-11.59M	-10.57M	-12.44M	4.09M	-4.77M
NII Growth %	-	-10.7%	0.09%	-0.18%	1.33%	-2.16%
Net Interest Margin %	-	-	-	-	-	-
Interest Income	18.99M	8.12M	6.46M	9.17M	42.62M	82.74M
Interest Expense	17.8M	19.71M	17.03M	21.61M	38.53M	87.51M
Loan Loss Provision	0	0	0	0	0	0
Non-Interest Income+	2.14B	2.26B	5.58B	1.5B	1.81B	2.54B
Non-Interest Income %	-	-	-	-	-	-
Total Revenue+	2.15B	2.27B	5.58B	1.5B	1.86B	2.62B
Revenue Growth %	-	0.05%	1.46%	-0.73%	0.23%	0.41%
Non-Interest Expense	950.68M	797.84M	899.53M	1.51B	1.73B	2.56B
Efficiency Ratio	-	-	-	-	-	-
Operating Income+	1.19B	1.45B	4.67B	-23.75M	83.65M	-24.82M
Operating Margin %	-	-	-	-	-	-
Operating Income Growth %	-	0.22%	2.22%	-1.01%	4.52%	-1.3%
Pretax Income+	1.19B	1.45B	4.67B	-23.75M	83.65M	-24.82M
Pretax Margin %	-	-	-	-	-	-
Income Tax+	5.69M	9.78M	9.04M	32.48M	60.27M	52.09M
Effective Tax Rate %	-	-	-	-	-	-
Net Income+	480.51M	927.58M	2.18B	92.43M	80.09M	23.48M
Net Margin %	-	-	-	-	-	-
Net Income Growth %	-	0.93%	1.35%	-0.96%	-0.13%	-0.71%
Net Income (Continuing)	1.18B	1.44B	4.66B	-56.23M	23.39M	-76.92M
EPS (Diluted)+	17.10	20.84	65.75	-0.19	0.22	0.06
EPS Growth %	-	0.22%	2.15%	-1%	2.16%	-0.71%
EPS (Basic)	17.10	20.84	65.75	1.10	0.89	0.23
Diluted Shares Outstanding	69.04M	69.04M	70.81M	308.91M	317.94M	364.73M

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	655.38M	861.92M	978.1M	1.11B	665.19M	808.02M
Short Term Investments	0	0	0	0	0	0
Total Investments+	4.01B	4.79B	6.11B	5.33B	6.64B	7.3B
Investments Growth %	-	0.19%	0.28%	-0.13%	0.25%	0.1%
Long-Term Investments	4.01B	4.79B	6.11B	5.33B	6.64B	7.3B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-
Goodwill	26.5M	26.5M	230.19M	230.19M	436.08M	436.08M
Intangible Assets	1.17M	1.15M	164.55M	136.19M	649.51M	533.71M
PP&E (Net)	243M	213.58M	183.78M	154.41M	309.29M	297.95M
Other Assets	62.09M	863.04M	1.09B	752.05M	169.55M	283.62M
Total Current Assets	1.16B	1.11B	1.19B	1.34B	1.14B	1.33B
Total Non-Current Assets	4.35B	5.89B	7.77B	6.6B	8.23B	9.21B
Total Assets+	5.51B	7B	8.96B	7.94B	9.37B	10.54B
Asset Growth %	-	0.27%	0.28%	-0.11%	0.18%	0.12%
Return on Assets (ROA)	0.09%	0.15%	0.27%	0.01%	0.01%	0%
Accounts Payable	71.55M	71.95M	134.35M	44.19M	42.56M	45.61M
Total Debt+	462.29M	490.63M	621.45M	592.45M	1.26B	1.58B
Net Debt	-193.09M	-371.3M	-356.65M	-520.13M	598.74M	775.29M
Long-Term Debt	462.29M	490.63M	621.45M	592.45M	1.26B	1.58B
Short-Term Debt	0	0	0	0	0	0
Other Liabilities	719.62M	917.26M	944.77M	4.22B	4.7B	5.31B
Total Current Liabilities	71.55M	71.95M	134.35M	44.19M	42.56M	45.61M
Total Non-Current Liabilities	1.18B	1.41B	1.57B	4.81B	5.97B	6.9B
Total Liabilities	1.25B	1.48B	1.7B	4.86B	6.01B	6.94B
Total Equity+	4.26B	5.52B	7.26B	3.09B	3.36B	3.59B
Equity Growth %	-	0.3%	0.32%	-0.58%	0.09%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.19%	0.34%	0.02%	0.02%	0.01%
Book Value per Share	61.65	79.97	102.55	9.99	10.57	9.85
Tangible BV per Share	-	-	-	-	-	-
Common Stock	2.02B	2.46B	0	309K	362K	365K
Additional Paid-in Capital	0	0	0	506.64M	613.48M	970.72M
Retained Earnings	0	0	0	2.72M	-34.68M	-186.98M
Accumulated OCI	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	828.12M	95.39M	1.47B	1.38B	720.52M	532.15M
Operating CF Growth %	-	-0.88%	14.46%	-0.07%	-0.48%	-0.26%
Net Income	1.18B	1.44B	4.66B	-56.23M	71.22M	-76.92M
Depreciation & Amortization	9.3M	7.72M	45.12M	32.99M	47.67M	135.39M
Deferred Taxes	0	0	0	0	0	0
Other Non-Cash Items	-1.06B	-675.07M	-4.59B	-252.1M	234.74M	1.19B
Working Capital Changes	700.67M	-676.19M	1.36B	1.02B	-288.03M	-720.58M
Cash from Investing+	17.4M	-108.1M	-37.74M	-3.01M	-373.56M	-44.47M
Purchase of Investments	-105.36M	-2.08M	0	-109.09M	-303.12M	-862.82M
Sale/Maturity of Investments	1000K	1000K	0	0	1000K	1000K
Net Investment Activity	-	-	-	-	-	-
Acquisitions	0	-7.45M	24.82M	0	-356.83M	-16.33M
Other Investing	0	7.45M	-60.77M	108.53M	-21.77M	-220.93M
Cash from Financing+	-825.39M	250.33M	-1.32B	-1.24B	-789.23M	-344.86M
Dividends Paid	-248.26M	-298.58M	-1.07B	-662.81M	-643.22M	-832.49M
Share Repurchases	0	0	-304.76M	-352.01M	-661M	-67.67M
Stock Issued	50M	800M	935M	820.62M	0	0
Net Stock Activity	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	0	1000K	1000K
Other Financing	-677.13M	-301.09M	-1.04B	-223.25M	13.99M	204.3M
Net Change in Cash+	20.14M	237.63M	114.51M	134.79M	-442.28M	142.82M
Exchange Rate Effect	0	0	0	0	0	0
Cash at Beginning	613.59M	633.73M	871.36M	985.86M	1.12B	678.37M
Cash at End	633.73M	871.36M	985.86M	1.12B	678.37M	821.19M
Interest Paid	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0
Free Cash Flow+	819.97M	-20.16M	1.47B	1.37B	703.79M	504.01M
FCF Growth %	-	-1.02%	74.09%	-0.07%	-0.49%	-0.28%

Banking Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.29%	18.98%	34.12%	1.79%	2.48%	0.68%
Return on Assets (ROA)	8.72%	14.83%	27.32%	1.09%	0.93%	0.24%
Net Interest Margin	0.02%	-0.17%	-0.12%	-0.16%	0.04%	-0.05%
Efficiency Ratio	44.12%	35.21%	16.12%	100.14%	93.42%	97.61%
Equity / Assets	77.25%	78.86%	81.02%	38.86%	35.87%	34.1%
Book Value / Share	61.65	79.97	102.55	9.99	10.57	9.85
NII Growth	-	-1070.04%	8.81%	-17.72%	132.9%	-216.46%
Dividend Payout	51.66%	32.19%	48.91%	717.13%	803.13%	3545.08%

Revenue by Segment

	2022	2023	2024
Management fees	931.29M	1.19B	1.64B
Management fees Growth	-	27.56%	37.88%
Expense Reimbursements And Other	209.38M	233.57M	245.83M
Expense Reimbursements And Other Growth	-	11.55%	5.25%
Transaction Fees	97.91M	99.43M	140.6M
Transaction Fees Growth	-	1.55%	41.41%
Incentive Fees	5.18M	2.81M	33.03M
Incentive Fees Growth	-	-45.69%	1073.43%
Monitoring Fees	14.33M	10.87M	29.63M
Monitoring Fees Growth	-	-24.17%	172.64%
Fee Credits	-11.46M	-	-
Fee Credits Growth	-	-	-

Frequently Asked Questions

Growth & Financials

TPG Inc. (TPG) grew revenue by 41.4% over the past year. This is strong growth.

Yes, TPG Inc. (TPG) is profitable, generating $252.5M in net income for fiscal year 2024 (0.9% net margin).

Dividend & Returns

Yes, TPG Inc. (TPG) pays a dividend with a yield of 3.39%. This makes it attractive for income-focused investors.

TPG Inc. (TPG) has a return on equity (ROE) of 0.7%. This is below average, suggesting room for improvement.

Industry Metrics

TPG Inc. (TPG) has a net interest margin (NIM) of -0.0%. NIM has been under pressure due to interest rate environment.

TPG Inc. (TPG) has an efficiency ratio of 97.6%. This is higher than peers, suggesting room for cost optimization.

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