TPG RE Finance Trust (TRTX) Total Debt (2016 - 2026)
TPG RE Finance Trust (TRTX) reported Total Debt of $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) Total Debt (2016 - 2026) Analysis & Trends
At the end of FY2025, TPG RE Finance Trust posted Total Debt of $30.8 million, down 98.2% from FY2024.
- Total Debt has declined for four consecutive years, with a five-year compound annual growth rate of -55.8% (FY2020 to FY2025).
- By year, Total Debt came in at $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%).
- Five-year quarterly Total Debt spans a low of $30.8 million in Q4 2025 and a high of $2.81 billion in Q1 2022.
- Year over year, Total Debt gained in four of the last eight quarters, with an average decline of 15.6%.
- The high point for year-over-year Total Debt in five years was Q3 2021 (growth of 44.6%); the low point was Q2 2026 (a decline of 98.7%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $2.53 billion (Q1 2026), $30.8 million (Q4 2025) and $2.22 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 16.64 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 39.58 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 8.96 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 Total 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=total-debt&ticker=TRTX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-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=total-debt&ticker=TRTX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();