TPG RE Finance Trust (TRTX-PC) Debt to Equity (2016 - 2026)
TPG RE Finance Trust (TRTX-PC) reported Debt to Equity of $0.7 for Q1 2026, up 208.47% on a YoY basis from $0.23 in Q1 2025, and up 20.08% quarter-over-quarter from $0.58 in Q4 2025.
TPG RE Finance Trust (TRTX-PC) Debt to Equity (2016 - 2026) Analysis & Trends
TPG RE Finance Trust has reported Debt to Equity for 11 years, with the latest figure at $0.7 in Q1 2026.
- For the quarter ending Q1 2026, Debt to Equity rose 208.47% year-over-year to $0.7; the trailing twelve-month figure through Mar 2026 stood at $0.7 (up 208.47% YoY), and the FY2025 full-year result was $0.58, down 3.82% from the prior year.
- Debt to Equity for Q1 2026 stood at $0.7, up from $0.58 in the prior quarter.
- The five-year high for Debt to Equity was $1.91 in Q1 2022, with the low at $0.23 in Q1 2025.
- Historically, Debt to Equity has averaged $0.77 across 5 years, with a median of $0.6 in 2024.
- Annual changes were most pronounced in 2023 — Debt to Equity plunged 78.42% — and 2026, when it surged 208.47%.
- TPG RE Finance Trust's Debt to Equity stood at $0.87 in 2022, then retreated by 15.91% to $0.73 in 2023, then fell by 17.5% to $0.6 in 2024, then retreated by 3.82% to $0.58 in 2025, then climbed by 20.08% to $0.7 in 2026.
- The last three Debt to Equity figures came in at $0.7 (Q1 2026), $0.58 (Q4 2025), and $0.53 (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 15.34 Bn | 13.08 Bn | - | 1.89 |
| 2 | AGNC Investment | 11.42 Bn | 10.75 Bn | - | 7.19 |
| 3 | Starwood Property Trust | 6.25 Bn | 6.25 Bn | - | 0.61 |
| 4 | Rithm Capital | 5.08 Bn | 4.78 Bn | - | - |
| 5 | Blackstone Mortgage Trust | 3.10 Bn | 2.56 Bn | - | 0.23 |
| 6 | Dynex Capital | 2.58 Bn | 1.80 Bn | - | - |
| 7 | Armour Residential REIT | 2.05 Bn | 1.32 Bn | - | 7.90 |
| 8 | Ellington Financial | 1.67 Bn | 1.39 Bn | - | - |
| 9 | Two Harbors Investment | 1.29 Bn | 746.67 Mn | - | 0.06 |
| 10 | TPG RE Finance Trust | - | - | - | 0.70 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.70 |
| Dec 31, 2025 | 0.58 |
| Sep 30, 2025 | 0.53 |
| Jun 30, 2025 | 0.48 |
| Mar 31, 2025 | 0.23 |
| Dec 31, 2024 | 0.60 |
| Sep 30, 2024 | 0.47 |
| Jun 30, 2024 | 0.47 |
| Mar 31, 2024 | 0.55 |
| Dec 31, 2023 | 0.73 |
| Sep 30, 2023 | 0.90 |
| Jun 30, 2023 | 0.85 |
| Mar 31, 2023 | 0.41 |
| Dec 31, 2022 | 0.87 |
| Sep 30, 2022 | 0.98 |
| Jun 30, 2022 | 1.83 |
| Mar 31, 2022 | 1.91 |
| Dec 31, 2021 | 0.79 |
| Sep 30, 2021 | 0.63 |
| Jun 30, 2021 | 1.96 |