TPG RE Finance Trust (TRTX-PC) Net Margin (2016 - 2026)
TPG RE Finance Trust (TRTX-PC) reported Net Margin of 40.65% for Q1 2026, up 1376.0% on a YoY basis from 2.75% in Q1 2025, and up 7437.17% quarter-over-quarter from 0.54% in Q4 2025.
TPG RE Finance Trust (TRTX-PC) Net Margin (2016 - 2026) Analysis & Trends
TPG RE Finance Trust has reported Net Margin for 11 years, with the latest figure at 40.65% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin rose 1376.0% year-over-year to 40.65%; the trailing twelve-month figure through Mar 2026 stood at 34.62% (down 279.0% YoY), and the FY2025 full-year result was 31.13%, down 784.0% from the prior year.
- Net Margin for Q1 2026 stood at 40.65%, up from 0.54% in the prior quarter.
- The five-year high for Net Margin was 53.5% in Q2 2024, with the low at 370.95% in Q3 2022.
- Historically, Net Margin has averaged 24.64% across 5 years, with a median of 26.9% in 2025.
- Annual changes were most pronounced in 2022 — Net Margin tumbled 43756 bps — and 2024, when it surged 28577 bps.
- TPG RE Finance Trust's Net Margin stood at 49.11% in 2022, then tumbled by 94 bps to 2.81% in 2023, then jumped by 608 bps to 19.89% in 2024, then plunged by 97 bps to 0.54% in 2025, then surged by 7437 bps to 40.65% in 2026.
- The last three Net Margin figures came in at 40.65% (Q1 2026), 0.54% (Q4 2025), and 48.75% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net 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 | - | 11.21% |
| 4 | Rithm Capital | 5.08 Bn | 4.78 Bn | - | 4.91% |
| 5 | Blackstone Mortgage Trust | 3.10 Bn | 2.56 Bn | - | 5.45% |
| 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 | - | 26.97% |
| 9 | Two Harbors Investment | 1.29 Bn | 746.67 Mn | - | - |
| 10 | TPG RE Finance Trust | - | - | - | 40.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 40.65% |
| Dec 31, 2025 | 0.54% |
| Sep 30, 2025 | 48.75% |
| Jun 30, 2025 | 46.63% |
| Mar 31, 2025 | 26.90% |
| Dec 31, 2024 | 19.89% |
| Sep 30, 2024 | 46.52% |
| Jun 30, 2024 | 53.50% |
| Mar 31, 2024 | 33.54% |
| Dec 31, 2023 | 2.81% |
| Sep 30, 2023 | -239.25% |
| Jun 30, 2023 | -222.85% |
| Mar 31, 2023 | 15.14% |
| Dec 31, 2022 | 49.11% |
| Sep 30, 2022 | -370.95% |
| Jun 30, 2022 | -22.79% |
| Mar 31, 2022 | 53.03% |
| Dec 31, 2021 | 89.13% |
| Sep 30, 2021 | 66.61% |
| Jun 30, 2021 | -52.52% |