TPG RE Finance Trust (TRTX) Invested Capital (2016 - 2026)
TPG RE Finance Trust's (TRTX) quarterly Invested Capital came in at $3.0 billion in Q2 2026, up 83.04% on a YoY basis from $1.6 billion in Q2 2025, and up 63.84% quarter-over-quarter from $1.8 billion in Q1 2026.
Analysis
TPG RE Finance Trust (TRTX) Invested Capital (2016 - 2026) Analysis & Trends
TPG RE Finance Trust (TRTX) has reported Invested Capital for 11 consecutive years, with $3.0 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Invested Capital rose 83.04% year-over-year to $3.0 billion; the trailing twelve-month figure through Jun 2026 stood at $3.0 billion (up 83.04% YoY), and the FY2025 full-year result was $1.7 billion, down 5.51% from the prior year.
- Invested Capital improved to $3.0 billion in Q2 2026 per TRTX's latest filing, from $1.8 billion in the prior quarter.
- Across five years, Invested Capital topped out at $5.6 billion in Q3 2022 and bottomed at $1.4 billion in Q1 2025.
- Historically, Invested Capital has averaged $2.6 billion across 5 years, with a median of $1.9 billion in 2023.
- The sharpest annual moves came in 2024 and 2026: Invested Capital sank 67.36% in 2024, then surged 83.04% in 2026.
- Over 5 years, Invested Capital stood at $2.5 billion in 2022, then decreased by 21.21% to $1.9 billion in 2023, then slipped by 8.27% to $1.8 billion in 2024, then dropped by 5.51% to $1.7 billion in 2025, then soared by 74.94% to $3.0 billion in 2026.
- According to Business Quant data, Invested Capital over the past three periods registered $3.0 billion, $1.8 billion, and $1.7 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.87 Bn | 13.96 Bn | - | 51.34 Bn |
| 2 | AGNC Investment | 12.43 Bn | 11.10 Bn | - | 102.35 Bn |
| 3 | Starwood Property Trust | 5.84 Bn | 3.67 Bn | - | 25.64 Bn |
| 4 | Rithm Capital | 5.57 Bn | 5.57 Bn | - | - |
| 5 | Dynex Capital | 2.88 Bn | 2.27 Bn | - | 25.82 Bn |
| 6 | Two Harbors Investment | 2.65 Bn | 2.01 Bn | - | 1.86 Bn |
| 7 | Blackstone Mortgage Trust | 2.35 Bn | 1.91 Bn | - | 4.48 Bn |
| 8 | Armour Residential REIT | 2.11 Bn | 2.02 Bn | - | 22.02 Bn |
| 9 | Ellington Financial | 1.71 Bn | 1.46 Bn | - | 2.65 Bn |
| 10 | TPG RE Finance Trust | 597.86 Mn | 527.05 Mn | - | 2.95 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.95 Bn |
| Mar 31, 2026 | 1.80 Bn |
| Dec 31, 2025 | 1.69 Bn |
| Sep 30, 2025 | 1.66 Bn |
| Jun 30, 2025 | 1.61 Bn |
| Mar 31, 2025 | 1.35 Bn |
| Dec 31, 2024 | 1.78 Bn |
| Sep 30, 2024 | 1.65 Bn |
| Jun 30, 2024 | 1.65 Bn |
| Mar 31, 2024 | 1.74 Bn |
| Dec 31, 2023 | 1.95 Bn |
| Sep 30, 2023 | 2.17 Bn |
| Jun 30, 2023 | 2.26 Bn |
| Mar 31, 2023 | 5.33 Bn |
| Dec 31, 2022 | 2.47 Bn |
| Sep 30, 2022 | 5.63 Bn |
| Jun 30, 2022 | 5.36 Bn |
| Mar 31, 2022 | 4.28 Bn |
| Dec 31, 2021 | 4.01 Bn |
| Sep 30, 2021 | 4.24 Bn |