TPG RE Finance Trust (TRTX) Total Debt (2016 - 2026)
TPG RE Finance Trust (TRTX) reported Total Debt of $738.6 million for Q1 2026, up 196.9% on a YoY basis 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 has reported Total Debt for 11 years, with the latest figure at $738.6 million in Q1 2026.
- For the quarter ending Q1 2026, Total Debt rose 196.9% year-over-year to $738.6 million; the trailing twelve-month figure through Mar 2026 stood at $738.6 million (up 196.9% YoY), and the FY2025 full-year result was $618.5 million, down 7.79% from the prior year.
- Total Debt for Q1 2026 stood at $738.6 million, up from $618.5 million in the prior quarter.
- The five-year high for Total Debt was $2.8 billion in Q1 2022, with the low at $248.8 million in Q1 2025.
- Historically, Total Debt has averaged $962.2 million across 5 years, with a median of $670.7 million in 2024.
- Annual changes were most pronounced in 2023 — Total Debt slumped 80.76% — and 2026, when it surged 196.9%.
- TPG RE Finance Trust's Total Debt stood at $1.1 billion in 2022, then fell by 28.46% to $820.8 million in 2023, then retreated by 18.29% to $670.7 million in 2024, then retreated by 7.79% to $618.5 million in 2025, then climbed by 19.42% to $738.6 million in 2026.
- The last three Total Debt figures came in at $738.6 million (Q1 2026), $618.5 million (Q4 2025), and $577.2 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 15.34 Bn | 13.08 Bn | - | 30.72 Bn |
| 2 | AGNC Investment | 11.42 Bn | 10.75 Bn | - | 87.60 Bn |
| 3 | Starwood Property Trust | 6.25 Bn | 6.25 Bn | - | 4.29 Bn |
| 4 | Rithm Capital | 5.08 Bn | 4.78 Bn | - | - |
| 5 | Blackstone Mortgage Trust | 3.10 Bn | 2.56 Bn | - | 782.22 Mn |
| 6 | Dynex Capital | 2.58 Bn | 1.80 Bn | - | - |
| 7 | Armour Residential REIT | 2.05 Bn | 1.32 Bn | - | 18.46 Bn |
| 8 | Ellington Financial | 1.67 Bn | 1.39 Bn | - | - |
| 9 | Two Harbors Investment | 1.29 Bn | 746.67 Mn | - | 111.20 Mn |
| 10 | TPG RE Finance Trust | 665.15 Mn | 573.15 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 | 540.82 Mn |
| Dec 31, 2022 | 1.15 Bn |
| Sep 30, 2022 | 1.28 Bn |
| Jun 30, 2022 | 2.64 Bn |
| Mar 31, 2022 | 2.81 Bn |
| Dec 31, 2021 | 1.16 Bn |
| Sep 30, 2021 | 915.54 Mn |
| Jun 30, 2021 | 2.82 Bn |