TPG RE Finance Trust (TRTX-PC) FCF Margin (2016 - 2026)

TPG RE Finance Trust (TRTX-PC) reported FCF Margin of 60.24% for Q1 2026, up 923.0% on a YoY basis from 5.89% in Q1 2025, and down 19.61% quarter-over-quarter from 74.93% in Q4 2025.

TPG RE Finance Trust (TRTX-PC) FCF Margin (2016 - 2026) Analysis & Trends

TPG RE Finance Trust has reported FCF Margin for 11 years, with the latest figure at 60.24% in Q1 2026.

  • For the quarter ending Q1 2026, FCF Margin rose 923.0% year-over-year to 60.24%; the trailing twelve-month figure through Mar 2026 stood at 63.5% (up 140.0% YoY), and the FY2025 full-year result was 61.16%, down 1187.0% from the prior year.
  • FCF Margin for Q1 2026 stood at 60.24%, down from 74.93% in the prior quarter.
  • The five-year high for FCF Margin was 94.6% in Q1 2024, with the low at 19.4% in Q4 2022.
  • Historically, FCF Margin has averaged 63.06% across 5 years, with a median of 63.95% in 2024.
  • Annual changes were most pronounced in 2023 — FCF Margin sank 6158 bps — and 2024, when it jumped 4847 bps.
  • TPG RE Finance Trust's FCF Margin stood at 19.4% in 2022, then soared by 39 bps to 26.94% in 2023, then jumped by 180 bps to 75.41% in 2024, then dropped by 1 bps to 74.93% in 2025, then decreased by 20 bps to 60.24% in 2026.
  • The last three FCF Margin figures came in at 60.24% (Q1 2026), 74.93% (Q4 2025), and 54.48% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Margin (Qtr)
1 Annaly Capital Management 15.34 Bn 13.08 Bn - -
2 AGNC Investment 11.42 Bn 10.75 Bn - -
3 Starwood Property Trust 6.25 Bn 6.25 Bn - 18.26%
4 Rithm Capital 5.08 Bn 4.78 Bn - 4.42%
5 Blackstone Mortgage Trust 3.10 Bn 2.56 Bn - -145.84%
6 Dynex Capital 2.58 Bn 1.80 Bn - -
7 Armour Residential REIT 2.05 Bn 1.32 Bn - -
8 Ellington Financial 1.67 Bn 1.39 Bn - -9,929.39%
9 Two Harbors Investment 1.29 Bn 746.67 Mn - -
10 TPG RE Finance Trust - - - 60.24%

Historic Data

Download Data
DateValue
Mar 31, 2026 60.24%
Dec 31, 2025 74.93%
Sep 30, 2025 54.48%
Jun 30, 2025 65.21%
Mar 31, 2025 51.01%
Dec 31, 2024 75.41%
Sep 30, 2024 63.95%
Jun 30, 2024 58.86%
Mar 31, 2024 94.60%
Dec 31, 2023 26.94%
Sep 30, 2023 88.02%
Jun 30, 2023 22.41%
Mar 31, 2023 92.94%
Dec 31, 2022 19.40%
Sep 30, 2022 54.95%
Jun 30, 2022 83.99%
Mar 31, 2022 84.64%
Dec 31, 2021 75.54%
Sep 30, 2021 91.97%
Jun 30, 2021 86.68%