TRTX
TPG RE Finance Trust, Inc.
There isn't enough reported data to score TRTX yet.
TRTX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
TRTX's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like TRTX.
TRTX PE Valuation
TRTX has no meaningful PE right now: it lost money over the past year.
TRTX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect TRTX's earnings to grow and its profitability to improve, with its revenue holding steady.
TRTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.09 | +67% |
| Q3 2025 | $0.65 | -5.8% |
| Q2 2025 | $0.65 | +$1.02 |
| Q1 2025 | $0.70 | +$2.27 |
| Q4 2024 | $0.75 | +$2.44 |
| Q3 2024 | $0.69 | +$1.98 |
| Q2 2024 | -$0.37 | +$1.61 |
| Q1 2024 | -$1.57 | -$0.42 |
| Q4 2023 | -$1.69 | -$0.74 |
TRTX's earnings per share have fallen from their peak: $0.65 over the past year, against $1.73 in late 2019.
TRTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $35.9M | -5.1% |
| Q2 2026 | $34M | -6.1% |
| Q1 2026 | $37.3M | +0.7% |
| Q4 2025 | $35M | +0.9% |
| Q3 2025 | $37.8M | -5.7% |
| Q2 2025 | $36.2M | -7.9% |
| Q1 2025 | $37M | -4.9% |
| Q4 2024 | $34.7M | +10% |
TRTX's revenue fell from its 2020 peak and has held roughly level since: $36M last quarter, down 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | -32 points |
| Q2 2026 | 39% | -18 points |
| Q1 2026 | 51% | +14 points |
| Q4 2025 | 12% | -19 points |
| Q3 2025 | 58% | +3 points |
| Q2 2025 | 57% | -5.8 points |
| Q1 2025 | 37% | -6.8 points |
| Q4 2024 | 30% | +9.8 points |
TRTX's operating margin was 26% last quarter, down 32 points from the same quarter a year ago.
TRTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $14.4M | -34% |
| Q2 2026 | $21.6M | -13% |
| Q1 2026 | $24.6M | +28% |
| Q4 2025 | $24.7M | -3.3% |
| Q3 2025 | $21.8M | -7.9% |
| Q2 2025 | $24.7M | -3.2% |
| Q1 2025 | $19.1M | -49% |
| Q4 2024 | $25.5M | +9.8% |
TRTX's free cash flow was $85M over the past year, down 6.6% from the year before. Free cash flow isn't a meaningful measure for real estate companies like TRTX.
TRTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2% | -1.5M shares |
| 1 year | -2.9% | -2.3M shares |
| 3 years | -1.6% | -1.2M shares |
| 5 years | -6.8% | -5.5M shares |
| Available history | +5.2% | +3.7M shares |
TRTX has 76M diluted shares, down 2.9% from a year ago, with $25M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $9.5M |
| Q2 2026 | $10.9M |
| Q1 2026 | $4.2M |
| Q4 2025 | $387,000 |
| Q3 2025 | $9.3M |
| Q2 2025 | $12.9M |
| Q1 2025 | $2.8M |
| Q4 2024 | — |
TRTX spent $25M buying back its own shares over the past year, about the same as the year before.
TRTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | 44.9x | High |
| Q4 2025 | 47.2x | High |
| Q3 2025 | 38.2x | High |
| Q2 2025 | 38.5x | High |
| Q1 2025 | 31.6x | High |
| Q4 2024 | 29.5x | High |
TRTX has more cash than debt. Net leverage isn't a meaningful measure for real estate companies like TRTX.
TRTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.3 | Neutral |
| Stochastic | 35.5 | Neutral |
TRTX's weekly RSI is 36 (neutral) and its Stochastic is 35 (neutral).
TRTX PE vs Real Estate Sector
| Metric | TRTX | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
TRTX has no meaningful PE right now: it lost money over the past year.
TRTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.29 | 2.2% above |
| 20 week MA | $7.33 | 12% below |
| 50 week MA | $8.06 | 20% below |
| 100 week MA | $8.23 | 22% below |
| 200 week MA | $7.88 | 18% below |
TRTX has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 18% below its 200-week average.
TRTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.4 | $10.7 | -48% |
| 2021 | $10.7 | $12.7 | +19% |
| 2022 | $12.7 | $7.20 | -43% |
| 2023 | $7.20 | $6.50 | -9.7% |
| 2024 | $6.50 | $8.40 | +29% |
| 2025 | $8.40 | $8.79 | +4.6% |
| 2026 YTD | $8.79 | $6.43 | -27% |
TRTX has finished lower in three of the last six years. It's down 27% so far in 2026.