TPG RE Finance Trust (TRTX) Net Margin (2016 - 2026)

TPG RE Finance Trust's (TRTX) quarterly Net Margin came in at 40.65% in Q1 2026, up 1376.0% year-on-year from 2.75% in Q1 2025, and up 8029.08% quarter-over-quarter from 0.5% in Q4 2025.

TPG RE Finance Trust (TRTX) Net Margin (2016 - 2026) Analysis & Trends

TPG RE Finance Trust's Net Margin history runs 11 years deep, the most recent figure standing at 40.65% for Q1 2026.

  • On a quarterly basis, Net Margin rose 1376.0% year-over-year to 40.65% in Q1 2026; TTM through Mar 2026 was 33.98%, a 304.0% decrease from a year earlier, with the FY2025 full-year figure at 31.13%, down 784.0% from the prior year.
  • Net Margin rose to 40.65% in Q1 2026 per TRTX's latest filing, from 0.5% in the prior quarter.
  • Across five years, Net Margin topped out at 194.68% in Q2 2023 and bottomed at 370.95% in Q3 2022.
  • The 5-year median for Net Margin is 40.65% (2026), against an average of 15.53%.
  • Across the five-year window, Net Margin tumbled 43756 bps in 2022 and surged 42788 bps in 2023, its largest moves.
  • Year by year, Net Margin stood at 49.11% in 2022, then plunged by 90 bps to 4.69% in 2023, then soared by 306 bps to 19.03% in 2024, then slumped by 97 bps to 0.5% in 2025, then soared by 8029 bps to 40.65% in 2026.
  • Per Business Quant, the three latest TRTX Net Margin figures stand at 40.65% (Q1 2026), 0.5% (Q4 2025), and 48.75% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net 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 - 11.21%
4 Rithm Capital 5.01 Bn 5.01 Bn - 4.91%
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 5.45%
6 Ellington Financial 1.63 Bn 1.51 Bn - 51.82%
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 - 40.65%

Historic Data

Download Data
DateValue
Mar 31, 2026 40.65%
Dec 31, 2025 0.50%
Sep 30, 2025 48.75%
Jun 30, 2025 46.63%
Mar 31, 2025 26.90%
Dec 31, 2024 19.03%
Sep 30, 2024 46.52%
Jun 30, 2024 53.50%
Mar 31, 2024 33.54%
Dec 31, 2023 4.69%
Sep 30, 2023 56.93%
Jun 30, 2023 194.68%
Mar 31, 2023 15.14%
Dec 31, 2022 49.11%
Sep 30, 2022 -370.95%
Jun 30, 2022 -54.57%
Mar 31, 2022 53.03%
Dec 31, 2021 89.13%
Sep 30, 2021 66.61%
Jun 30, 2021 -52.52%