Tpg (TPG) Operating Expenses (2021 - 2026)
Tpg (TPG) reported 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 6 years of Operating Expenses data on file, last reported at $648.6 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $648.6 million, down 31.57% year-over-year; the trailing twelve-month figure through Mar 2026 was $3.8 billion (up 2.86% YoY), and the FY2025 annual result was $4.1 billion, up 14.42% from the prior year.
- Operating Expenses slipped to $648.6 million in Q1 2026 per TPG's latest filing, from $1.2 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $1.2 billion in Q4 2025 and troughed at $54.2 million in Q2 2022.
- A 5-year average of $742.9 million and a median of $836.4 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses plunged 72.74% in 2022, then jumped 942.51% in 2023.
- A 5-year view of Operating Expenses shows it stood at $429.5 million in 2022, then soared by 114.85% to $922.7 million in 2023, then gained by 19.02% to $1.1 billion in 2024, then grew by 11.55% to $1.2 billion in 2025, then sank 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | Tpg | 6.72 Bn | 8.46 Bn | - | 648.61 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 198.72 Mn |