TPG RE Finance Trust (TRTX) Invested Capital (2016 - 2026)
TPG RE Finance Trust (TRTX) posted Invested Capital of $1.08 billion for Q2 2026, down 69.6% from $3.53 billion a year earlier and down 70.1% from the prior quarter.
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Analysis
TPG RE Finance Trust (TRTX) Invested Capital (2016 - 2026) Analysis & Trends
For FY2025, TPG RE Finance Trust's Invested Capital came in at $1.1 billion, down 60.7% from FY2024.
- Annual Invested Capital has declined for four consecutive years, with a five-year compound annual growth rate of -18.7% (FY2020 to FY2025).
- In prior years, TPG RE Finance Trust's Invested Capital was $2.8 billion in FY2024 (-8.0%), $3.04 billion in FY2023 (-19.5%), $3.77 billion in FY2022 (-5.9%) and $4.01 billion in FY2021 (+29.7%).
- The Q2 2026 figure stands as the lowest quarterly Invested Capital in data going back to Q4 2016.
- On a year-over-year basis, Invested Capital has declined in each of the last three quarters, with an average decline of 11.4% over the last eight quarters.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q3 2021, with growth of 31.5%; the weakest was Q2 2026, with a decline of 69.6%.
- According to Business Quant data, Invested Capital for the three prior quarters was $3.6 billion (Q1 2026), $1.1 billion (Q4 2025) and $3.3 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 40.19 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 69.63 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 18.75 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 8.82 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 24.41 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 8.03 Bn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 51.34 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | TPG RE Finance Trust | 481.93 Mn | 89.70 Mn | - | 1.08 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.08 Bn |
| Mar 31, 2026 | 3.60 Bn |
| Dec 31, 2025 | 1.10 Bn |
| Sep 30, 2025 | 3.30 Bn |
| Jun 30, 2025 | 3.53 Bn |
| Mar 31, 2025 | 3.61 Bn |
| Dec 31, 2024 | 2.80 Bn |
| Sep 30, 2024 | 2.85 Bn |
| Jun 30, 2024 | 2.96 Bn |
| Mar 31, 2024 | 3.00 Bn |
| Dec 31, 2023 | 3.04 Bn |
| Sep 30, 2023 | 3.11 Bn |
| Jun 30, 2023 | 3.36 Bn |
| Mar 31, 2023 | 3.54 Bn |
| Dec 31, 2022 | 3.77 Bn |
| Sep 30, 2022 | 3.76 Bn |
| Jun 30, 2022 | 4.08 Bn |
| Mar 31, 2022 | 4.28 Bn |
| Dec 31, 2021 | 4.01 Bn |
| Sep 30, 2021 | 4.20 Bn |
API Access
TPG RE Finance Trust Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=TRTX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "TRTX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=TRTX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();