TRTX - NYSE
TPG RE Finance Trust, Inc.
$8.38
-1.4%TPG RE Finance Trust, Inc., a commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in the United States. It invests in commercial mortgage loans; subordinate mortgage interests, mezzanine loans, secured real estate securities, note financing, preferred equity, and miscellaneous debt instruments; and commercial real estate collateralized loan obligations and commercial mortgage-backed securities secured by properties primarily in the office, multifamily, life science, mixed-use, hospitality, industrial, and retail real estate sectors. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. TPG RE Finance Trust, Inc. was incorporated in 2014 and is based in New York, New York.
At a Glance
Live SnapshotTPG RE Finance Trust, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
TPG RE Finance Trust, Inc. Cash Flow Statement
TRTX • NYSE
| TPG RE Finance Trust, Inc. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||||
60.3M | 74.3M | -116.6M | -60.1M | 138.6M | -136.8M | 126.3M | 106.9M | 94.4M | 70M | 59.4M | |
12.6M | 15.7M | 3.5M | -11.1M | 0.0 | 2.4M | 2.7M | 1.2M | -7.7M | 28K | 0.0 | |
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -2.4M | -2.7M | -1.2M | -185K | 0.0 | 0.0 | |
9.8M | 6.4M | 8M | 5.1M | 5.8M | 5.8M | 2.6M | 665K | 33K | 0.0 | 0.0 | |
8M | 6.9M | 184.4M | 176M | -12.1M | 270.9M | 3M | 1.8M | 5.5M | 14.4M | -1.8M | |
(290K) | (260K) | (371K) | (784K) | (1.2M) | (141K) | (394K) | (341K) | (142K) | (0.0) | (3.2M) | |
-405K | 8.8M | 849K | -9.4M | -63K | -7.7M | -10.2M | -1.7M | -855K | 1.3M | 41.1M | |
90.4M | 112.1M | 80.1M | 100.5M | 132.2M | 132.1M | 121.7M | 107.7M | 91.2M | 85.7M | 98.6M | |
INVESTING ACTIVITIES | |||||||||||
-6.1M | (0.0) | -5.4M | -5.1M | (0.0) | (0.0) | (0.0) | (0.0) | -111K | -500K | (0.0) | |
(0.0) | (0.0) | (0.0) | (602.2M) | (0.0) | (0.0) | (0.0) | (0.0) | -671.5M | (0.0) | (0.0) | |
(0.0) | (0.0) | (0.0) | -1.7B | (0.0) | -168.9M | -815M | -143.5M | -96.3M | -59.5M | -1.3M | |
0.0 | 92.8M | 247.6M | 1.1B | 0.0 | 766.4M | 94.8M | 2.7M | 64.9M | 782.2M | 718.1M | |
-783.6M | 347.7M | 853.1M | -447.5M | -342.9M | 367M | -588.4M | -1.1B | 496K | -485.2M | -113.5M | |
-789.7M | (440.5M) | (1.1B) | -452.6M | -342.9M | (964.6M) | -1.3B | -1.2B | -702.6M | -544.7M | -114.8M | |
FINANCING ACTIVITIES | |||||||||||
-25.3M | -37K | 0.0 | 0.0 | 0.0 | 12.9M | 174.5M | 130.6M | 230.2M | 250M | 132.7M | |
735.4M | -476.8M | -1.1B | 457M | 314.6M | -964.2M | 1.2B | 1.1B | 449.1M | 287.7M | 24.1M | |
-91.1M | -90.4M | -88.4M | -92.9M | -98.3M | -96.9M | -124.6M | -103.2M | -80.3M | -73.1M | -39.7M | |
-25.3M | -37K | (0.0) | (0.0) | (0.0) | (0.0) | -42K | -8.8M | -13.9M | (0.0) | -55.6M | |
-21.8M | -1.9M | -3.6M | -18.8M | -18M | -19M | -17.4M | -30.4M | -15.8M | 242.6M | 181.6M | |
597.1M | -569.2M | -1.2B | 345.3M | 152.1M | -856.7M | 1.2B | 1.1B | 583.2M | 457.2M | 110.5M | |
CASH FLOW SUMMARY | |||||||||||
-102.2M | -16.5M | -47.3M | -6.7M | -58.6M | 240M | 38.9M | -35M | -28.2M | -1.8M | 94.3M | |
190.5M | 207M | 254.3M | 261M | 319.7M | 79.7M | 40.7M | 75.7M | 104M | 104.9M | 11.7M | |
88.3M | 190.5M | 207M | 254.3M | 261M | 319.7M | 79.7M | 40.7M | 75.7M | 103.1M | 106M | |
84.2M | 106.8M | 74.8M | 95.4M | 132.2M | 132.1M | 121.7M | 107.7M | 91.1M | 85.2M | 98.6M |
SEC Filings
TRTX - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | June 01, 2026 | June 01, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 21, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 15, 2026 | May 14, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 28, 2026 | April 28, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | April 28, 2026 | March 31, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 08, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 02, 2026 | February 27, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 17, 2026 | February 17, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 17, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2025 N/A | November 21, 2025 | November 17, 2025 | 2025 |
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