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← CockpitCompetitor Analysis › TRTX TPG RE Finance Trust, Inc.Open in the cockpit ↗

TPG RE Finance Trust, Inc.TRTXCompetitor analysis, valuation and peers

United States · USD·Real Estate›Real Estate Investment Trusts
Momentum weak 37
Mkt cap
$512M
US dollars, full cap
Free float
93%
of shares outstanding
$/day
$12.1M
20-day average traded
Fwd P/E
6.2×
forward earnings
ROIC−WACC
n/a
WACC 6.2%
Hurdle
n/a
no reverse DCF
Next earnings
109 days
23 Feb 2027
Close · USD$6.75
1D-3.9%
1W+3.9%
1M+13.1%
3M-14.8%
6M-21.2%
YTD-21.6%
1Y-25.4%
ATR %3.9%
Beta0.58
52w lowhigh27.8% off high

What TPG RE Finance Trust does

No business profile yet.

TPG RE Finance Trust at a glance

Size TPG RE Finance Trust (TRTX) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $512M, the 2680th largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.75 on 6 Nov 2026.

Performance Over six months the shares fell 21.2%, against -9.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.

Growth Revenue grew 5.9% over the last twelve months (peer median +3.5%); the operating margin is 73.2% (peer median 46.5%).

Valuation It trades at 6.2× forward earnings against a peer median of 15.9× (2nd cheapest of 13).

Short interest Short interest is 9.0% of the free float (15 Oct 2026).

Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).

Relative performance

8010011 May 202611 Aug 20266 Nov 2026Peer median 91TRTX 80
Six months, rebased to 100: TPG RE Finance Trust against the median of its 20 peers (local-currency closes).

TPG RE Finance Trust financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$346M$333M$351M$390M$306M
Revenue growth—-5%-10%+28%—
Gross profit$296M$276M$297M$360M$275M
EBITDA$286M$269M$295M$345M$261M
Net income$43.1M$58.1M$72.3M-$118M-$61.1M
Free cash flow$74.5M$84.2M$107M$74.8M$95.4M
Capital expenditure$10.7M$6.14M$5.32M$5.36M$5.06M
Total debt$4.17B$3.29B$2.57B$3.04B$4.16B

Quarterly statements and history in the cockpit →

TPG RE Finance Trust competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-40%-20%0%-20%0%365550ADAMAPR-UNDXI293940GOODRFF8977180305ABGAP-UN180203YTST0435SREIBDNHPPTRTX6-month return →1-month return →
Up and to the right = strong over both horizons. TPG RE Finance Trust is the large dot.

Fundamentals: revenue growth against valuation

-40%-20%0%+20%+40%20×40×60×365550ADAMAPR-UNDXI293940GOODRFF8977ABGUHTCREIMRG-UNTRTXRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. TPG RE Finance Trust is the large dot.

TPG RE Finance Trust competitors and peer comparison

How TPG RE Finance Trust compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

TPG RE Finance Trust against its 20 peers (data as of 6 Nov 2026)
MeasureTRTXPeer medianRank in peer set
1-month return+13.1%+2.3%2nd highest of 21
6-month return-21.2%-9.0%5th lowest of 21
Distance from 52-week high-27.8%-22.5%7th lowest of 21
Revenue growth (TTM)+5.9%+3.5%10th highest of 20
Operating margin73.2%46.5%3rd highest of 21
Forward P/E6.2×15.9×2nd cheapest of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
TPG RE Finance Trust TRTXUnited States$512M-21%+6%73%6.2×n/an/a
ESR Kendall Square REIT 365550.KSSouth Korea$513M-37%+11%49%25.7×n/an/a
Adamas Trust ADAMUnited States$514M-36%+35%58%5.6×n/an/a
Automotive Properties Real Estate Investment Trust APR-UN.TOCanada$499M+11%+18%78%12.5×n/an/a
Dexus Industria REIT DXI.AXAustralia$525M+3%-12%75%14.9×n/an/a
Shinhan Alpha REIT 293940.KSSouth Korea$497M-8%+45%63%24.0×n/an/a
Gladstone Commercial GOODUnited States$497M-21%+11%39%64.4×n/an/a
Rural Funds RFF.AXAustralia$532M-1%+7%44%16.9×n/an/a
Hankyu Hanshin REIT 8977.TJapan$533M-19%-38%34%18.4×n/an/a
China Southern SF Express Closed Infrastructure REIT 180305.SZChina$490M-12%n/a10%n/an/an/a
Abacus ABG.AXAustralia$539M-13%-5%-16%11.4×n/an/a
Allied Properties Real Estate Investment Trust AP-UN.TOCanada$539M-61%-5%36%n/an/an/a
China Merchants CMET Closed Infrastructure Real Estate Investment Trust Registered Unit 180203.SZChina$541M0%+451%28%n/an/an/a
Universal Health Realty Income Trust UHTUnited States$544M-4%0%38%22.6×n/an/a
Testa Residencial Socimi YTST.MCSpain$482M+13%-2%59%n/an/an/a
Sunlight Real Estate Investment Trust 0435.HKHong Kong$481M-10%-5%65%n/an/an/a
Custodian Property Income REIT CREI.LUnited Kingdom$545M+1%+9%68%13.2×n/an/a
Schroder Real Estate Investment Trust SREI.LUnited Kingdom$548M-6%+7%67%n/an/an/a
Brandywine Realty Trust BDNUnited States$551M+4%+4%15%n/an/an/a
Hudson Pacific Properties HPPUnited States$471M-22%+3%-1%n/an/an/a
Morguard North American Residential Real Estate Investment Trust MRG-UN.TOCanada$557M-12%-1%64%11.7×n/an/a

Questions

Which companies are TPG RE Finance Trust's closest peers?
The cockpit's peer set: ESR Kendall Square REIT (365550.KS), Adamas Trust (ADAM), Automotive Properties Real Estate Investment Trust (APR-UN.TO), Dexus Industria REIT (DXI.AX), Shinhan Alpha REIT (293940.KS), Gladstone Commercial (GOOD), Rural Funds (RFF.AX), Hankyu Hanshin REIT (8977.T).
Is TPG RE Finance Trust expensive compared with its peers?
On forward p/e it trades at 6.2× against a peer median of 15.9×, 2nd cheapest of 13 in its peer set.
How has TPG RE Finance Trust stock performed?
Over six months to 6 Nov 2026 the shares returned -21.2% against -9.0% for the median peer; over one year -25.4%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.