TPG RE Finance Trust (TRTX-PC) Non-Current Debt (2016 - 2026)

TPG RE Finance Trust (TRTX-PC) reported Non-Current Debt of $738.6 million for Q1 2026, up 196.9% on a YoY basis from $248.8 million in Q1 2025, and up 19.42% quarter-over-quarter from $618.5 million in Q4 2025.

TPG RE Finance Trust (TRTX-PC) Non-Current Debt (2016 - 2026) Analysis & Trends

TPG RE Finance Trust has reported Non-Current Debt for 11 years, with the latest figure at $738.6 million in Q1 2026.

  • For the quarter ending Q1 2026, Non-Current Debt rose 196.9% year-over-year to $738.6 million; the trailing twelve-month figure through Mar 2026 stood at $738.6 million (up 196.9% YoY), and the FY2025 full-year result was $618.5 million, down 7.79% from the prior year.
  • Non-Current Debt for Q1 2026 stood at $738.6 million, up from $618.5 million in the prior quarter.
  • The five-year high for Non-Current Debt was $2.8 billion in Q1 2022, with the low at $248.8 million in Q1 2025.
  • Historically, Non-Current Debt has averaged $962.2 million across 5 years, with a median of $670.7 million in 2024.
  • Annual changes were most pronounced in 2023 — Non-Current Debt slumped 80.76% — and 2026, when it surged 196.9%.
  • TPG RE Finance Trust's Non-Current Debt stood at $1.1 billion in 2022, then fell by 28.46% to $820.8 million in 2023, then retreated by 18.29% to $670.7 million in 2024, then retreated by 7.79% to $618.5 million in 2025, then climbed by 19.42% to $738.6 million in 2026.
  • The last three Non-Current Debt figures came in at $738.6 million (Q1 2026), $618.5 million (Q4 2025), and $577.2 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Non-Current Debt (Qtr)
1 Annaly Capital Management 15.34 Bn 13.08 Bn - 30.72 Bn
2 AGNC Investment 11.42 Bn 10.75 Bn - 87.60 Bn
3 Starwood Property Trust 6.25 Bn 6.25 Bn - 4.29 Bn
4 Rithm Capital 5.08 Bn 4.78 Bn - -
5 Blackstone Mortgage Trust 3.10 Bn 2.56 Bn - 782.22 Mn
6 Dynex Capital 2.58 Bn 1.80 Bn - -
7 Armour Residential REIT 2.05 Bn 1.32 Bn - 18.46 Bn
8 Ellington Financial 1.67 Bn 1.39 Bn - -
9 Two Harbors Investment 1.29 Bn 746.67 Mn - 111.20 Mn
10 TPG RE Finance Trust - - - 738.58 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 738.58 Mn
Mar 31, 2026 738.58 Mn
Dec 31, 2025 618.47 Mn
Dec 31, 2025 618.47 Mn
Sep 30, 2025 577.23 Mn
Sep 30, 2025 577.23 Mn
Jun 30, 2025 520.99 Mn
Jun 30, 2025 520.99 Mn
Mar 31, 2025 248.76 Mn
Mar 31, 2025 248.76 Mn
Dec 31, 2024 670.73 Mn
Dec 31, 2024 670.73 Mn
Sep 30, 2024 528.09 Mn
Sep 30, 2024 528.09 Mn
Jun 30, 2024 529.70 Mn
Jun 30, 2024 529.70 Mn
Mar 31, 2024 619.83 Mn
Mar 31, 2024 619.83 Mn
Dec 31, 2023 820.82 Mn
Dec 31, 2023 820.82 Mn