Growth Metrics

Tpg (TPGXL) Operating Expenses (2021 - 2026)

Tpg (TPGXL) 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% on a QoQ basis from $1.2 billion in Q4 2025.

Tpg (TPGXL) has 6 years of Operating Expenses data on file, last reported at $648.6 million in Q1 2026.

  • Quarterly Operating Expenses fell 31.57% year-over-year to $648.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $3.8 billion (up 2.86% YoY) and the FY2025 annual result came in at $4.1 billion, up 14.42% from the prior year.
  • Operating Expenses eased to $648.6 million in Q1 2026 per TPGXL'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.
  • The 5-year median for Operating Expenses is $836.4 million (2024), against an average of $742.9 million.
  • The widest annual swing landed in 2022, when Operating Expenses slumped 72.74%; it then surged 942.51% in 2023.
  • Tracing TPGXL's Operating Expenses over 5 years: stood at $429.5 million in 2022, then jumped by 114.85% to $922.7 million in 2023, then increased by 19.02% to $1.1 billion in 2024, then advanced by 11.55% to $1.2 billion in 2025, then tumbled by 47.06% to $648.6 million in 2026.
  • Per Business Quant, the three latest TPGXL Operating Expenses figures stand at $648.6 million (Q1 2026), $1.2 billion (Q4 2025), and $1.0 billion (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 158.51 Bn 148.89 Bn - 3.88 Bn
2 Blackstone 92.68 Bn 91.63 Bn - 2.26 Bn
3 Kkr 84.94 Bn 132.45 Bn - 3.87 Bn
4 Brookfield Asset Management 77.34 Bn 77.68 Bn - 733.00 Mn
5 Apollo Global Management 76.27 Bn 95.00 Bn 5.04 Bn 4.68 Bn
6 State Street 44.42 Bn 18.75 Bn - 2.81 Bn
7 Ameriprise Financial 41.68 Bn 41.55 Bn 4.57 Bn 3.67 Bn
8 Northern Trust 31.21 Bn 31.21 Bn - 1.51 Bn
9 Ares Management 28.85 Bn 32.22 Bn - 1.17 Bn
10 Tpg - - - 648.61 Mn

Historic Data

Download Data 🔒
DateValue
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
Mar 31, 2021 194.65 Mn