TPG RE Finance Trust (TRTX) Non-Current Debt (2016 - 2026)
TPG RE Finance Trust's Non-Current Debt came in at $30.9 million for Q2 2026, down 98.7% from $2.44 billion a year earlier and down 98.8% from the prior quarter.
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Analysis
TPG RE Finance Trust (TRTX) Non-Current Debt (2016 - 2026) Analysis & Trends
At the end of FY2025, TPG RE Finance Trust's Non-Current Debt was $30.8 million, down 98.2% from FY2024.
- Non-Current Debt has declined in each of the last four years, with a five-year compound annual growth rate of -55.8% (FY2020 to FY2025).
- Going back by year, Non-Current Debt was $1.68 billion in FY2024 (-12.2%), $1.92 billion in FY2023 (-21.9%), $2.45 billion in FY2022 (-3.7%) and $2.55 billion in FY2021 (+39.4%).
- The five-year range for quarterly Non-Current Debt is $30.8 million (Q4 2025) to $2.81 billion (Q1 2022).
- Year-over-year, Non-Current Debt increased in four of the last eight quarters, with an average decline of 15.6%.
- The fastest year-over-year change in Non-Current Debt over five years came in Q3 2021 (growth of 50.7%), and the weakest in Q2 2026 (a decline of 98.7%).
- Business Quant data shows TRTX's Non-Current Debt at $2.53 billion (Q1 2026), $30.8 million (Q4 2025) and $2.22 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Non-Current Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 16.64 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 35.93 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 8.58 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 3.33 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 7.52 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 395.89 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 34.37 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | TPG RE Finance Trust | 481.93 Mn | 89.70 Mn | - | 30.90 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.90 Mn |
| Mar 31, 2026 | 2.53 Bn |
| Dec 31, 2025 | 30.80 Mn |
| Sep 30, 2025 | 2.22 Bn |
| Jun 30, 2025 | 2.44 Bn |
| Mar 31, 2025 | 2.50 Bn |
| Dec 31, 2024 | 1.68 Bn |
| Sep 30, 2024 | 1.73 Bn |
| Jun 30, 2024 | 1.83 Bn |
| Mar 31, 2024 | 1.88 Bn |
| Dec 31, 2023 | 1.92 Bn |
| Sep 30, 2023 | 1.97 Bn |
| Jun 30, 2023 | 2.14 Bn |
| Mar 31, 2023 | 2.23 Bn |
| Dec 31, 2022 | 2.45 Bn |
| Sep 30, 2022 | 2.46 Bn |
| Jun 30, 2022 | 2.64 Bn |
| Mar 31, 2022 | 2.81 Bn |
| Dec 31, 2021 | 2.55 Bn |
| Sep 30, 2021 | 2.75 Bn |
API Access
TPG RE Finance Trust Non-Current Debt 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=non-current-debt&ticker=TRTX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "non-current-debt", "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=non-current-debt&ticker=TRTX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();