TPG RE Finance Trust (TRTX) Debt Ratio (2016 - 2026)

TPG RE Finance Trust's (TRTX) quarterly Debt Ratio came in at 0.17 in Q1 2026, up 163.02% year-on-year from 0.06 in Q1 2025, and up 17.66% quarter-over-quarter from 0.14 in Q4 2025.

TPG RE Finance Trust (TRTX) Debt Ratio (2016 - 2026) Analysis & Trends

TPG RE Finance Trust's Debt Ratio history runs 11 years deep, the most recent figure standing at 0.17 for Q1 2026.

  • On a quarterly basis, Debt Ratio rose 163.02% year-over-year to 0.17 in Q1 2026; TTM through Mar 2026 was 0.17, a 163.02% increase from a year earlier, with the FY2025 full-year figure at 0.14, down 21.91% from the prior year.
  • Debt Ratio rose to 0.17 in Q1 2026 per TRTX's latest filing, from 0.14 in the prior quarter.
  • Across five years, Debt Ratio topped out at 0.49 in Q2 2022 and bottomed at 0.06 in Q1 2025.
  • The 5-year median for Debt Ratio is 0.18 (2024), against an average of 0.2.
  • Across the five-year window, Debt Ratio jumped 196.44% in 2022 and tumbled 61.21% in 2025, its largest moves.
  • Year by year, Debt Ratio stood at 0.21 in 2022, then declined by 5.86% to 0.19 in 2023, then dropped by 7.71% to 0.18 in 2024, then declined by 21.91% to 0.14 in 2025, then climbed by 17.66% to 0.17 in 2026.
  • Per Business Quant, the three latest TRTX Debt Ratio figures stand at 0.17 (Q1 2026), 0.14 (Q4 2025), and 0.14 (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn - 0.01
2 AGNC Investment 11.85 Bn 11.36 Bn - 0.74
3 Starwood Property Trust 5.99 Bn 5.94 Bn - 0.30
4 Rithm Capital 5.01 Bn 5.01 Bn - -
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 0.04
6 Ellington Financial 1.63 Bn 1.51 Bn - 0.01
7 Dynex Capital 1.56 Bn 1.05 Bn - -
8 Armour Residential REIT 1.42 Bn 1.34 Bn - 0.85
9 Two Harbors Investment 1.27 Bn 987.19 Mn - 0.01
10 TPG RE Finance Trust 664.36 Mn 572.36 Mn - 0.17

Historic Data

Download Data
DateValue
Mar 31, 2026 0.17
Dec 31, 2025 0.14
Sep 30, 2025 0.14
Jun 30, 2025 0.13
Mar 31, 2025 0.06
Dec 31, 2024 0.18
Sep 30, 2024 0.14
Jun 30, 2024 0.14
Mar 31, 2024 0.16
Dec 31, 2023 0.19
Sep 30, 2023 0.23
Jun 30, 2023 0.21
Mar 31, 2023 0.23
Dec 31, 2022 0.21
Sep 30, 2022 0.43
Jun 30, 2022 0.49
Mar 31, 2022 0.22
Sep 30, 2021 0.53
Jun 30, 2021 0.17
Mar 31, 2021 0.16