TPG RE Finance Trust, Inc. (TRTX) Earnings History
Profitable11 years of earnings data (2015–2025) · Positive TTM net income
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TPG RE Finance Trust, Inc. (TRTX) Earnings Overview
As of June 22, 2026, TPG RE Finance Trust, Inc. (TRTX) reported trailing twelve-month net income of $61M, reflecting -26.0% year-over-year growth. The company earned $0.78 per diluted share over the past four quarters, with a net profit margin of 18.1%.
Looking at the long-term picture, TRTX's historical earnings data spans multiple years. The company achieved its highest annual net income of $139M in fiscal 2021.
TPG RE Finance Trust, Inc. maintains industry-leading profitability with a gross margin of 79.3%, operating margin of 73.0%, and net margin of 18.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including BXMT ($104M net income, 7.2% margin), KREF (-$104M net income, -10.3% margin), ACRE (-$20M net income, -1.1% margin), TRTX has outperformed on profitability metrics. Compare TRTX vs BXMT →
TRTX Earnings vs Peers
Earnings metrics vs comparable public companies
TRTX Historical Earnings Data (2015–2025)
11 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $60M | -18.9% | $243M | $0.57 | 18.1% | 73.0% |
| 2024 | $74M | +163.7% | $75M | $0.77 | 49.9% | 50.2% |
| 2023 | -$117M | -94.2% | -$123M | $-1.69 | - | - |
| 2022 | -$60M | -143.4% | $88M | $-0.95 | -19.6% | 28.8% |
| 2021 | $139M | +201.3% | $209M | $0.87 | 57.6% | 86.8% |
| 2020 | -$137M | -208.3% | -$29M | $-2.03 | -169.3% | -36.2% |
| 2019 | $126M | +18.1% | $127M | $1.74 | 76.6% | 77.0% |
| 2018 | $107M | +13.3% | $233M | $1.70 | 77.4% | 168.8% |
| 2017 | $94M | +34.9% | $173M | $1.56 | 79.1% | 144.9% |
| 2016 | $70M | +17.9% | $132M | $1.15 | 78.8% | 148.3% |
| 2015 | $59M | - | $109M | $0.98 | 77.0% | 140.7% |
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TRTX — Frequently Asked Questions
Quick answers to the most common questions about buying TRTX stock.
What is TRTX earnings per share (EPS)?
TRTX trailing twelve-month (TTM) diluted EPS is $0.78, reflecting -26.0% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2015 to 2025 is available in the table on this page.
What is TPG RE Finance Trust, Inc.'s net income?
TPG RE Finance Trust, Inc. (TRTX) trailing twelve-month net income is $61M as of 2025. Earnings declined -26.0% year-over-year. TPG RE Finance Trust, Inc. has been profitable for 2 consecutive years.
Is TRTX profitable?
Yes, TRTX is profitable with a TTM net income of $61M and a net profit margin of +18.1%. TPG RE Finance Trust, Inc. has generated profits for 2 consecutive years.
What is TRTX's earnings growth rate?
TRTX compound annual EPS growth rates (CAGR): 1-Year: -26.0%, 3-Year: N/A, 5-Year: N/A, 10-Year: -5.3%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2015 to 2025.
What are TRTX's profit margins?
TPG RE Finance Trust, Inc. net profit margin is +18.1%, operating margin is +73.0%, and gross margin is +79.3%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +5.5%.
Is TRTX growing earnings?
TRTX earnings are declining — EPS fell -26.0% year-over-year. TTM net income dropped to $61M. This contrasts with the 5-year CAGR of N/A.
What was TRTX's best earnings year?
TPG RE Finance Trust, Inc.'s highest annual net income on record is $139M, achieved in fiscal year 2021. Earnings history on this page spans 2015 to 2025 and includes all annual and quarterly figures.
What were TRTX's earnings last quarter?
TRTX's most recent reported quarter was Q1 2026. Net income was $15M with diluted EPS of $0.19. For a full breakdown of all quarters, see the quarterly earnings table on this page.