Tpg (TPG) Operating Expenses (2021 - 2026)
Tpg's Operating Expenses came in at $1.5 billion for Q2 2026, up 68.2% from $890.13 million a year earlier and up 130.9% from the prior quarter.
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Analysis
Tpg (TPG) Operating Expenses (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Tpg reported Operating Expenses of $4.4 billion, up 15.7% year-over-year; for FY2025, it came in at $4.09 billion, up 14.4% from FY2024.
- Operating Expenses has increased in each of the last five years, with a five-year compound annual growth rate of 38.0% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $3.58 billion in FY2024 (+51.4%), $2.36 billion in FY2023 (+21.5%), $1.94 billion in FY2022 (+112.2%) and $916.57 million in FY2021 (+12.1%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses in data going back to Q1 2021.
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 44.1%.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2023 (growth of 942.5%), and the weakest in Q2 2022 (a decline of 72.7%).
- Business Quant data shows TPG's Operating Expenses at $648.61 million (Q1 2026), $1.23 billion (Q4 2025) and $1.03 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 166.01 Bn | 112.36 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 133.03 Bn | -424.98 Bn | - | 149.76 Mn |
| 3 | Blackstone | 86.20 Bn | 81.13 Bn | - | 2.38 Bn |
| 4 | Kkr | 83.71 Bn | 50.19 Bn | - | 5.41 Bn |
| 5 | Brookfield | 81.54 Bn | -83.85 Bn | 4.47 Bn | 14.94 Bn |
| 6 | Brookfield Asset Management | 71.09 Bn | 67.34 Bn | - | 659.00 Mn |
| 7 | Apollo Global Management | 68.54 Bn | 6.22 Bn | 10.56 Bn | 8.74 Bn |
| 8 | Wheaton Precious Metals | 61.57 Bn | 57.00 Bn | 687.86 Mn | 133.83 Mn |
| 9 | Franco Nevada | 47.40 Bn | 44.76 Bn | 451.00 Mn | 7.80 Mn |
| 10 | Tpg | 17.00 Bn | 15.80 Bn | - | 1.50 Bn |
Historic Data
Download Data
Historic 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 |
API Access
Tpg Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=TPG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "TPG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=TPG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();