TPG RE Finance Trust (TRTX) Total Debt (2016 - 2026)
TPG RE Finance Trust's (TRTX) quarterly Total Debt came in at $738.6 million in Q1 2026, up 196.9% year-on-year from $248.8 million in Q1 2025, and up 19.42% quarter-over-quarter from $618.5 million in Q4 2025.
TPG RE Finance Trust (TRTX) Total Debt (2016 - 2026) Analysis & Trends
TPG RE Finance Trust's Total Debt history runs 11 years deep, the most recent figure standing at $738.6 million for Q1 2026.
- On a quarterly basis, Total Debt rose 196.9% year-over-year to $738.6 million in Q1 2026; TTM through Mar 2026 was $738.6 million, a 196.9% increase from a year earlier, with the FY2025 full-year figure at $618.5 million, down 7.79% from the prior year.
- Total Debt rose to $738.6 million in Q1 2026 per TRTX's latest filing, from $618.5 million in the prior quarter.
- Across five years, Total Debt topped out at $2.6 billion in Q2 2022 and bottomed at $248.8 million in Q1 2025.
- The 5-year median for Total Debt is $738.6 million (2026), against an average of $977.1 million.
- Across the five-year window, Total Debt soared 207.38% in 2022 and slumped 60.76% in 2023, its largest moves.
- Year by year, Total Debt stood at $1.1 billion in 2022, then retreated by 28.46% to $820.8 million in 2023, then decreased by 18.29% to $670.7 million in 2024, then decreased by 7.79% to $618.5 million in 2025, then grew by 19.42% to $738.6 million in 2026.
- Per Business Quant, the three latest TRTX Total Debt figures stand at $738.6 million (Q1 2026), $618.5 million (Q4 2025), and $577.2 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.30 Bn | 14.44 Bn | - | 1.10 Bn |
| 2 | AGNC Investment | 11.85 Bn | 11.36 Bn | - | 87.62 Bn |
| 3 | Starwood Property Trust | 5.99 Bn | 5.94 Bn | - | 18.85 Bn |
| 4 | Rithm Capital | 5.01 Bn | 5.01 Bn | - | - |
| 5 | Blackstone Mortgage Trust | 2.78 Bn | 2.24 Bn | - | 782.22 Mn |
| 6 | Ellington Financial | 1.63 Bn | 1.51 Bn | - | 264.44 Mn |
| 7 | Dynex Capital | 1.56 Bn | 1.05 Bn | - | - |
| 8 | Armour Residential REIT | 1.42 Bn | 1.34 Bn | - | 19.44 Bn |
| 9 | Two Harbors Investment | 1.27 Bn | 987.19 Mn | - | 111.20 Mn |
| 10 | TPG RE Finance Trust | 664.36 Mn | 572.36 Mn | - | 738.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 738.58 Mn |
| Dec 31, 2025 | 618.47 Mn |
| Sep 30, 2025 | 577.23 Mn |
| Jun 30, 2025 | 520.99 Mn |
| Mar 31, 2025 | 248.76 Mn |
| Dec 31, 2024 | 670.73 Mn |
| Sep 30, 2024 | 528.09 Mn |
| Jun 30, 2024 | 529.70 Mn |
| Mar 31, 2024 | 619.83 Mn |
| Dec 31, 2023 | 820.82 Mn |
| Sep 30, 2023 | 1.03 Bn |
| Jun 30, 2023 | 1.04 Bn |
| Mar 31, 2023 | 1.24 Bn |
| Dec 31, 2022 | 1.15 Bn |
| Sep 30, 2022 | 2.46 Bn |
| Jun 30, 2022 | 2.64 Bn |
| Mar 31, 2022 | 1.19 Bn |
| Sep 30, 2021 | 2.75 Bn |
| Jun 30, 2021 | 858.64 Mn |
| Mar 31, 2021 | 855.00 Mn |