Tpg (TPG) Operating Expenses (2021 - 2026)
Tpg (TPG) posted quarterly Operating Expenses of $648.6 million for Q1 2026, down 31.57% year-over-year from $947.9 million in Q1 2025, and down 47.06% quarter-over-quarter from $1.2 billion in Q4 2025.
Tpg (TPG) Operating Expenses (2021 - 2026) Analysis & Trends
Tpg (TPG) has reported Operating Expenses for 6 consecutive years, with $648.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 31.57% year-over-year to $648.6 million; the TTM figure through Mar 2026 stood at $3.8 billion (up 2.86% YoY), while the FY2025 annual figure was $4.1 billion, up 14.42% from the prior year.
- Operating Expenses fell to $648.6 million in Q1 2026 per TPG's latest filing, from $1.2 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $1.2 billion in Q4 2025 and bottomed at $54.2 million in Q2 2022.
- Historically, Operating Expenses has averaged $742.9 million across 5 years, with a median of $836.4 million in 2024.
- Annual changes were most pronounced in 2022 — Operating Expenses plunged 72.74% — and 2023, when it jumped 942.51%.
- Tpg's Operating Expenses stood at $429.5 million in 2022, then jumped by 114.85% to $922.7 million in 2023, then advanced by 19.02% to $1.1 billion in 2024, then increased by 11.55% to $1.2 billion in 2025, then slumped by 47.06% to $648.6 million in 2026.
- Business Quant data shows TPG's Operating Expenses at $648.6 million in Q1 2026, $1.2 billion in Q4 2025, and $1.0 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 4.62 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.38 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.41 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.64 Bn |
| 10 | Tpg | 8.50 Bn | 7.55 Bn | - | 1.50 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.50 Bn |
| Mar 31, 2026 | 648.61 Mn |
| Dec 31, 2025 | 1.23 Bn |
| Sep 30, 2025 | 1.03 Bn |
| Jun 30, 2025 | 890.13 Mn |
| Mar 31, 2025 | 947.86 Mn |
| Dec 31, 2024 | 1.10 Bn |
| Sep 30, 2024 | 867.13 Mn |
| Jun 30, 2024 | 776.55 Mn |
| Mar 31, 2024 | 836.40 Mn |
| Dec 31, 2023 | 922.75 Mn |
| Sep 30, 2023 | 256.21 Mn |
| Jun 30, 2023 | 564.73 Mn |
| Mar 31, 2023 | 620.12 Mn |
| Dec 31, 2022 | 429.49 Mn |
| Sep 30, 2022 | 518.61 Mn |
| Jun 30, 2022 | 54.17 Mn |
| Mar 31, 2022 | 942.53 Mn |
| Dec 31, 2021 | 299.02 Mn |
| Sep 30, 2021 | 224.18 Mn |