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
DateValue
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