TPG RE FINANCE TRUST INC (TRTX) Fundamental Analysis & Valuation

NYSE:TRTX • US87266M1071

8.35 USD
-0.1 (-1.18%)
Last: Mar 6, 2026, 10:55 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This TRTX fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Taking everything into account, TRTX scores 6 out of 10 in our fundamental rating. TRTX was compared to 68 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. Both the profitability and the financial health of TRTX get a neutral evaluation. Nothing too spectacular is happening here. TRTX is valued quite cheap, while showing a decent growth score. This is a good combination! These ratings would make TRTX suitable for value investing!


Dividend Valuation Growth Profitability Health

6

1. TRTX Profitability Analysis

1.1 Basic Checks

  • In the past year TRTX was profitable.
  • In the past year TRTX had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: TRTX reported negative net income in multiple years.
  • In the past 5 years TRTX always reported a positive cash flow from operatings.
TRTX Yearly Net Income VS EBIT VS OCF VS FCFTRTX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M 300M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 1.03%, TRTX is in the better half of the industry, outperforming 76.47% of the companies in the same industry.
  • TRTX has a Return On Equity of 4.26%. This is comparable to the rest of the industry: TRTX outperforms 48.53% of its industry peers.
  • TRTX has a Return On Invested Capital of 4.60%. This is amongst the best in the industry. TRTX outperforms 97.06% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for TRTX is above the industry average of 1.22%.
Industry RankSector Rank
ROA 1.03%
ROE 4.26%
ROIC 4.6%
ROA(3y)-0.16%
ROA(5y)-0.09%
ROE(3y)-0.67%
ROE(5y)-0.55%
ROIC(3y)5.67%
ROIC(5y)4.77%
TRTX Yearly ROA, ROE, ROICTRTX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 -10

1.3 Margins

  • TRTX's Profit Margin of 13.67% is fine compared to the rest of the industry. TRTX outperforms 63.24% of its industry peers.
  • TRTX's Operating Margin of 76.39% is amongst the best of the industry. TRTX outperforms 98.53% of its industry peers.
  • In the last couple of years the Operating Margin of TRTX has declined.
  • TRTX's Gross Margin of 91.43% is amongst the best of the industry. TRTX outperforms 100.00% of its industry peers.
  • TRTX's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 76.39%
PM (TTM) 13.67%
GM 91.43%
OM growth 3Y-3.64%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.11%
GM growth 5Y0.52%
TRTX Yearly Profit, Operating, Gross MarginsTRTX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. TRTX Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TRTX is destroying value.
  • Compared to 1 year ago, TRTX has less shares outstanding
  • The number of shares outstanding for TRTX has been increased compared to 5 years ago.
  • The debt/assets ratio for TRTX is higher compared to a year ago.
TRTX Yearly Shares OutstandingTRTX Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
TRTX Yearly Total Debt VS Total AssetsTRTX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • TRTX has an Altman-Z score of 0.19. This is a bad value and indicates that TRTX is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.19, TRTX belongs to the top of the industry, outperforming 83.82% of the companies in the same industry.
  • TRTX has a debt to FCF ratio of 39.05. This is a negative value and a sign of low solvency as TRTX would need 39.05 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 39.05, TRTX belongs to the top of the industry, outperforming 85.29% of the companies in the same industry.
  • TRTX has a Debt/Equity ratio of 3.08. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of TRTX (3.08) is better than 76.47% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.08
Debt/FCF 39.05
Altman-Z 0.19
ROIC/WACC0.77
WACC6.01%
TRTX Yearly LT Debt VS Equity VS FCFTRTX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 2.47 indicates that TRTX has no problem at all paying its short term obligations.
  • TRTX's Current ratio of 2.47 is amongst the best of the industry. TRTX outperforms 95.59% of its industry peers.
  • TRTX has a Quick Ratio of 2.47. This indicates that TRTX is financially healthy and has no problem in meeting its short term obligations.
  • TRTX has a better Quick ratio (2.47) than 95.59% of its industry peers.
Industry RankSector Rank
Current Ratio 2.47
Quick Ratio 2.47
TRTX Yearly Current Assets VS Current LiabilitesTRTX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. TRTX Growth Analysis

3.1 Past

  • TRTX shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.04%.
  • The Earnings Per Share has been decreasing by -8.83% on average over the past years.
  • Looking at the last year, TRTX shows a decrease in Revenue. The Revenue has decreased by -5.51% in the last year.
  • Measured over the past years, TRTX shows a small growth in Revenue. The Revenue has been growing by 3.19% on average per year.
EPS 1Y (TTM)1.04%
EPS 3Y-1.34%
EPS 5Y-8.83%
EPS Q2Q%140%
Revenue 1Y (TTM)-5.51%
Revenue growth 3Y2.85%
Revenue growth 5Y3.19%
Sales Q2Q%3.09%

3.2 Future

  • Based on estimates for the next years, TRTX will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.97% on average per year.
  • TRTX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.19% yearly.
EPS Next Y17.07%
EPS Next 2Y9.97%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year9.71%
Revenue Next 2Y5.19%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
TRTX Yearly Revenue VS EstimatesTRTX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
TRTX Yearly EPS VS EstimatesTRTX Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 -2 -3

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Find the best growth stocksShow best growing peers

8

4. TRTX Valuation Analysis

4.1 Price/Earnings Ratio

  • TRTX is valuated reasonably with a Price/Earnings ratio of 8.61.
  • TRTX's Price/Earnings ratio is a bit cheaper when compared to the industry. TRTX is cheaper than 75.00% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.69. TRTX is valued rather cheaply when compared to this.
  • With a Price/Forward Earnings ratio of 7.35, the valuation of TRTX can be described as very cheap.
  • 75.00% of the companies in the same industry are more expensive than TRTX, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 24.79. TRTX is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.61
Fwd PE 7.35
TRTX Price Earnings VS Forward Price EarningsTRTX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TRTX is valued cheaply inside the industry as 98.53% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, TRTX is valued cheaper than 86.76% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.76
EV/EBITDA 14.48
TRTX Per share dataTRTX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of TRTX may justify a higher PE ratio.
PEG (NY)0.5
PEG (5Y)N/A
EPS Next 2Y9.97%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. TRTX Dividend Analysis

5.1 Amount

  • TRTX has a Yearly Dividend Yield of 8.02%, which is a nice return.
  • Compared to an average industry Dividend Yield of 11.15, TRTX's dividend is way lower than its industry peers. On top of this 91.18% of the companies listed in the same industry pay a better dividend than TRTX!
  • Compared to an average S&P500 Dividend Yield of 1.82, TRTX pays a better dividend.
Industry RankSector Rank
Dividend Yield 8.02%

5.2 History

  • The dividend of TRTX decreases each year by -4.78%.
  • TRTX has been paying a dividend for over 5 years, so it has already some track record.
  • TRTX has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-4.78%
Div Incr Years1
Div Non Decr Years3
TRTX Yearly Dividends per shareTRTX Yearly Dividends per shareYearly Dividends per share 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • TRTX pays out 200.29% of its income as dividend. This is not a sustainable payout ratio.
DP200.29%
EPS Next 2Y9.97%
EPS Next 3YN/A
TRTX Yearly Income VS Free CF VS DividendTRTX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M 100M -100M -150M
TRTX Dividend Payout.TRTX Dividend Payout, showing the Payout Ratio.TRTX Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

TRTX Fundamentals: All Metrics, Ratios and Statistics

TPG RE FINANCE TRUST INC

NYSE:TRTX (3/6/2026, 10:55:25 AM)

8.35

-0.1 (-1.18%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)02-17
Earnings (Next)04-27
Inst Owners77.32%
Inst Owner Change0.71%
Ins Owners3%
Ins Owner Change3.9%
Market Cap653.47M
Revenue(TTM)332.57M
Net Income(TTM)45.48M
Analysts80
Price Target10.2 (22.16%)
Short Float %4.32%
Short Ratio3.53
Dividend
Industry RankSector Rank
Dividend Yield 8.02%
Yearly Dividend1.14
Dividend Growth(5Y)-4.78%
DP200.29%
Div Incr Years1
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-5.23%
Min EPS beat(2)-7.73%
Max EPS beat(2)-2.74%
EPS beat(4)1
Avg EPS beat(4)-3.43%
Min EPS beat(4)-7.73%
Max EPS beat(4)4.11%
EPS beat(8)4
Avg EPS beat(8)-0.59%
EPS beat(12)4
Avg EPS beat(12)-156.4%
EPS beat(16)5
Avg EPS beat(16)-117.8%
Revenue beat(2)1
Avg Revenue beat(2)0.17%
Min Revenue beat(2)-5.51%
Max Revenue beat(2)5.85%
Revenue beat(4)2
Avg Revenue beat(4)1.18%
Min Revenue beat(4)-5.51%
Max Revenue beat(4)6.71%
Revenue beat(8)4
Avg Revenue beat(8)0.26%
Revenue beat(12)4
Avg Revenue beat(12)-7.05%
Revenue beat(16)8
Avg Revenue beat(16)23.22%
PT rev (1m)-2.91%
PT rev (3m)-1.23%
EPS NQ rev (1m)-5.03%
EPS NQ rev (3m)-6.09%
EPS NY rev (1m)-0.74%
EPS NY rev (3m)-0.24%
Revenue NQ rev (1m)18.47%
Revenue NQ rev (3m)20.17%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.88%
Valuation
Industry RankSector Rank
PE 8.61
Fwd PE 7.35
P/S 1.96
P/FCF 7.76
P/OCF 7.23
P/B 0.61
P/tB 0.62
EV/EBITDA 14.48
EPS(TTM)0.97
EY11.62%
EPS(NY)1.14
Fwd EY13.6%
FCF(TTM)1.08
FCFY12.89%
OCF(TTM)1.15
OCFY13.83%
SpS4.25
BVpS13.65
TBVpS13.45
PEG (NY)0.5
PEG (5Y)N/A
Graham Number17.26
Profitability
Industry RankSector Rank
ROA 1.03%
ROE 4.26%
ROCE 5.83%
ROIC 4.6%
ROICexc 4.7%
ROICexgc 4.73%
OM 76.39%
PM (TTM) 13.67%
GM 91.43%
FCFM 25.32%
ROA(3y)-0.16%
ROA(5y)-0.09%
ROE(3y)-0.67%
ROE(5y)-0.55%
ROIC(3y)5.67%
ROIC(5y)4.77%
ROICexc(3y)5.92%
ROICexc(5y)4.99%
ROICexgc(3y)6%
ROICexgc(5y)5.05%
ROCE(3y)7.18%
ROCE(5y)6.04%
ROICexgc growth 3Y6.25%
ROICexgc growth 5Y1.72%
ROICexc growth 3Y6.02%
ROICexc growth 5Y2.04%
OM growth 3Y-3.64%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.11%
GM growth 5Y0.52%
F-Score4
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 3.08
Debt/FCF 39.05
Debt/EBITDA 12.33
Cap/Depr 48.27%
Cap/Sales 1.85%
Interest Coverage 1.41
Cash Conversion 33.87%
Profit Quality 185.18%
Current Ratio 2.47
Quick Ratio 2.47
Altman-Z 0.19
F-Score4
WACC6.01%
ROIC/WACC0.77
Cap/Depr(3y)77.18%
Cap/Depr(5y)N/A
Cap/Sales(3y)1.58%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.04%
EPS 3Y-1.34%
EPS 5Y-8.83%
EPS Q2Q%140%
EPS Next Y17.07%
EPS Next 2Y9.97%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-5.51%
Revenue growth 3Y2.85%
Revenue growth 5Y3.19%
Sales Q2Q%3.09%
Revenue Next Year9.71%
Revenue Next 2Y5.19%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-8.53%
EBIT growth 3Y-0.89%
EBIT growth 5Y0.82%
EBIT Next Year122.68%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-21.15%
FCF growth 3Y-4.07%
FCF growth 5Y-8.61%
OCF growth 1Y-19.41%
OCF growth 3Y-3.48%
OCF growth 5Y-7.31%

TPG RE FINANCE TRUST INC / TRTX FAQ

What is the ChartMill fundamental rating of TPG RE FINANCE TRUST INC (TRTX) stock?

ChartMill assigns a fundamental rating of 6 / 10 to TRTX.


What is the valuation status for TRTX stock?

ChartMill assigns a valuation rating of 8 / 10 to TPG RE FINANCE TRUST INC (TRTX). This can be considered as Undervalued.


Can you provide the profitability details for TPG RE FINANCE TRUST INC?

TPG RE FINANCE TRUST INC (TRTX) has a profitability rating of 6 / 10.


How financially healthy is TPG RE FINANCE TRUST INC?

The financial health rating of TPG RE FINANCE TRUST INC (TRTX) is 6 / 10.


Is the dividend of TPG RE FINANCE TRUST INC sustainable?

The dividend rating of TPG RE FINANCE TRUST INC (TRTX) is 4 / 10 and the dividend payout ratio is 200.29%.