TPG RE Finance Trust (TRTX) FCF Margin (2016 - 2026)
TPG RE Finance Trust's (TRTX) quarterly FCF Margin came in at 60.24% in Q1 2026, up 996.0% year-on-year from 5.5% in Q1 2025, and down 13.3% quarter-over-quarter from 69.48% in Q4 2025.
TPG RE Finance Trust (TRTX) FCF Margin (2016 - 2026) Analysis & Trends
TPG RE Finance Trust's FCF Margin history runs 11 years deep, the most recent figure standing at 60.24% for Q1 2026.
- On a quarterly basis, FCF Margin rose 996.0% year-over-year to 60.24% in Q1 2026; TTM through Mar 2026 was 62.51%, a 67.0% increase from a year earlier, with the FY2025 full-year figure at 61.16%, down 1187.0% from the prior year.
- FCF Margin fell to 60.24% in Q1 2026 per TRTX's latest filing, from 69.48% in the prior quarter.
- Across five years, FCF Margin topped out at 201.08% in Q2 2022 and bottomed at 20.94% in Q3 2023.
- The 5-year median for FCF Margin is 60.24% (2026), against an average of 62.11%.
- Across the five-year window, FCF Margin jumped 11440 bps in 2022 and plunged 22065 bps in 2023, its largest moves.
- Year by year, FCF Margin stood at 27.02% in 2022, then surged by 67 bps to 45.01% in 2023, then surged by 75 bps to 78.82% in 2024, then dropped by 12 bps to 69.48% in 2025, then dropped by 13 bps to 60.24% in 2026.
- Per Business Quant, the three latest TRTX FCF Margin figures stand at 60.24% (Q1 2026), 69.48% (Q4 2025), and 54.48% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.30 Bn | 14.44 Bn | - | - |
| 2 | AGNC Investment | 11.85 Bn | 11.36 Bn | - | - |
| 3 | Starwood Property Trust | 5.99 Bn | 5.94 Bn | - | 18.26% |
| 4 | Rithm Capital | 5.01 Bn | 5.01 Bn | - | -1.16% |
| 5 | Blackstone Mortgage Trust | 2.78 Bn | 2.24 Bn | - | -145.84% |
| 6 | Ellington Financial | 1.63 Bn | 1.51 Bn | - | -6.04% |
| 7 | Dynex Capital | 1.56 Bn | 1.05 Bn | - | - |
| 8 | Armour Residential REIT | 1.42 Bn | 1.34 Bn | - | - |
| 9 | Two Harbors Investment | 1.27 Bn | 987.19 Mn | - | - |
| 10 | TPG RE Finance Trust | 664.36 Mn | 572.36 Mn | - | 60.24% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 60.24% |
| Dec 31, 2025 | 69.48% |
| Sep 30, 2025 | 54.48% |
| Jun 30, 2025 | 65.95% |
| Mar 31, 2025 | 50.28% |
| Dec 31, 2024 | 78.82% |
| Sep 30, 2024 | 51.16% |
| Jun 30, 2024 | 67.96% |
| Mar 31, 2024 | 92.41% |
| Dec 31, 2023 | 45.01% |
| Sep 30, 2023 | -20.94% |
| Jun 30, 2023 | -19.58% |
| Mar 31, 2023 | 92.94% |
| Dec 31, 2022 | 27.02% |
| Sep 30, 2022 | 54.95% |
| Jun 30, 2022 | 201.08% |
| Mar 31, 2022 | 84.64% |
| Dec 31, 2021 | 75.54% |
| Sep 30, 2021 | 91.97% |
| Jun 30, 2021 | 86.68% |