TPG Inc. (TPG) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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TPG Revenue Growth
Revenue Breakdown (FY 2025)
TPG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
TPG Revenue Analysis (2019–2025)
As of May 8, 2026, TPG Inc. (TPG) generated trailing twelve-month (TTM) revenue of $3.53 billion, reflecting significant decline in growth of -32.7% year-over-year. The most recent quarter (Q1 2026) recorded $500.0 million in revenue, down 66.5% sequentially.
Looking at the longer-term picture, TPG's 5-year compound annual growth rate (CAGR) stands at +15.5%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $5.58 billion in 2021.
Revenue diversification analysis shows TPG's business is primarily driven by Management fees (75%), Expense Reimbursements And Other (12%), and Transaction Fees (10%). With over half of revenue concentrated in Management fees, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including KKR, CG, and APO. Compare TPG vs KKR →
TPG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TPGCurrent | $3.5B | -32.7% | +15.5% | 14.7% | |
 KKR | $19.3B | - | - | 2.4% | |
 CG | $4.9B | - | - | 26.2% | |
 APO | $30.3B | - | - | 34.4% | |
 BX | $13.8B | - | - | 51.9% | |
 ARES | $6.5B | - | - | 27.2% |
TPG Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.67B | - | $4.52B | 96.9% | $685.1M | 14.7% |
| 2024 | $2.62B | - | $2.54B | 96.7% | $-24,824,000 | -0.9% |
| 2023 | $1.86B | - | $1.82B | 97.9% | $83.7M | 4.5% |
| 2022 | $1.50B | - | $1.48B | 98.6% | $-23,752,000 | -1.6% |
| 2021 | $5.58B | - | $5.56B | 99.7% | $4.67B | 83.6% |
| 2020 | $2.27B | - | $2.25B | 99.1% | $1.45B | 63.9% |
| 2019 | $2.15B | - | $2.14B | 99.2% | $1.19B | 55.1% |
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Start ComparisonTPG — Frequently Asked Questions
Quick answers to the most common questions about buying TPG stock.
Is TPG's revenue growth accelerating or slowing?
TPG revenue declined -32.7% year-over-year, contrasting with the 5-year CAGR of +15.5%. TTM revenue fell to $3.5B. This reverses the prior growth trend.
What is TPG's long-term revenue growth rate?
TPG Inc.'s 5-year revenue CAGR of +15.5% reflects the variable expansion pattern. Current YoY growth of -32.7% is below this long-term average.
How is TPG's revenue distributed by segment?
TPG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.