TPG RE FINANCE TRUST INC (TRTX) Stock Fundamental Analysis

NYSE:TRTX • US87266M1071

8.34 USD
-0.14 (-1.65%)
At close: Feb 23, 2026
8.34 USD
0 (0%)
After Hours: 2/23/2026, 8:19:03 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to TRTX. TRTX was compared to 69 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. TRTX has an average financial health and profitability rating. TRTX may be a bit undervalued, certainly considering the very reasonable score on growth With these ratings, TRTX could be worth investigating further for value investing!.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year TRTX was profitable.
  • TRTX had a positive operating cash flow in the past year.
  • In multiple years TRTX reported negative net income over the last 5 years.
  • Each year in the past 5 years TRTX had a positive operating cash flow.
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

  • With an excellent Return On Assets value of 1.03%, TRTX belongs to the best of the industry, outperforming 82.61% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 4.26%, TRTX is in line with its industry, outperforming 57.97% of the companies in the same industry.
  • TRTX's Return On Invested Capital of 4.60% is amongst the best of the industry. TRTX outperforms 97.10% of its industry peers.
  • TRTX had an Average Return On Invested Capital over the past 3 years of 5.67%. This is above the industry average of 1.25%.
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

  • The Profit Margin of TRTX (13.67%) is better than 69.57% of its industry peers.
  • The Operating Margin of TRTX (76.39%) is better than 98.55% of its industry peers.
  • In the last couple of years the Operating Margin of TRTX has declined.
  • The Gross Margin of TRTX (91.43%) is better than 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of TRTX has remained more or less at the same level.
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. Health

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
  • TRTX has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, TRTX has a worse debt to assets ratio.
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.
  • TRTX has a better Altman-Z score (0.19) than 81.16% of its industry peers.
  • The Debt to FCF ratio of TRTX is 39.05, which is on the high side as it means it would take TRTX, 39.05 years of fcf income to pay off all of its debts.
  • TRTX has a Debt to FCF ratio of 39.05. This is amongst the best in the industry. TRTX outperforms 84.06% of its industry peers.
  • A Debt/Equity ratio of 3.08 is on the high side and indicates that TRTX has dependencies on debt financing.
  • TRTX has a Debt to Equity ratio of 3.08. This is in the better half of the industry: TRTX outperforms 75.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.08
Debt/FCF 39.05
Altman-Z 0.19
ROIC/WACC0.76
WACC6.02%
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

  • TRTX has a Current Ratio of 2.47. This indicates that TRTX is financially healthy and has no problem in meeting its short term obligations.
  • TRTX has a Current ratio of 2.47. This is amongst the best in the industry. TRTX outperforms 94.20% of its industry peers.
  • A Quick Ratio of 2.47 indicates that TRTX has no problem at all paying its short term obligations.
  • The Quick ratio of TRTX (2.47) is better than 94.20% 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. Growth

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.
  • TRTX shows a decrease in Revenue. In the last year, the revenue decreased by -5.51%.
  • The Revenue has been growing slightly by 3.19% on average over the past years.
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%41.98%

3.2 Future

  • The Earnings Per Share is expected to grow by 9.97% on average over the next years. This is quite good.
  • Based on estimates for the next years, TRTX will show a small growth in Revenue. The Revenue will grow by 5.19% on average per year.
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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 8.60, the valuation of TRTX can be described as reasonable.
  • Compared to the rest of the industry, the Price/Earnings ratio of TRTX indicates a somewhat cheap valuation: TRTX is cheaper than 75.36% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of TRTX to the average of the S&P500 Index (26.64), we can say TRTX is valued rather cheaply.
  • The Price/Forward Earnings ratio is 7.34, which indicates a rather cheap valuation of TRTX.
  • TRTX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. TRTX is cheaper than 75.36% of the companies in the same industry.
  • TRTX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.75.
Industry RankSector Rank
PE 8.6
Fwd PE 7.34
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 cheaper than 97.10% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, TRTX is valued cheaply inside the industry as 85.51% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 7.75
EV/EBITDA 14.49
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. Dividend

5.1 Amount

  • TRTX has a Yearly Dividend Yield of 8.54%, which is a nice return.
  • Compared to an average industry Dividend Yield of 11.22, TRTX's dividend is way lower than its industry peers. On top of this 88.41% of the companies listed in the same industry pay a better dividend than TRTX!
  • TRTX's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 8.54%

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

  • 200.29% of the earnings are spent on dividend by TRTX. 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

TPG RE FINANCE TRUST INC

NYSE:TRTX (2/23/2026, 8:19:03 PM)

After market: 8.34 0 (0%)

8.34

-0.14 (-1.65%)

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 Cap652.69M
Revenue(TTM)332.57M
Net Income(TTM)45.48M
Analysts80
Price Target10.46 (25.42%)
Short Float %4.48%
Short Ratio4.1
Dividend
Industry RankSector Rank
Dividend Yield 8.54%
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)2
Avg Revenue beat(2)17.99%
Min Revenue beat(2)5.85%
Max Revenue beat(2)30.12%
Revenue beat(4)3
Avg Revenue beat(4)10.09%
Min Revenue beat(4)-2.35%
Max Revenue beat(4)30.12%
Revenue beat(8)5
Avg Revenue beat(8)4.71%
Revenue beat(12)5
Avg Revenue beat(12)-4.08%
Revenue beat(16)9
Avg Revenue beat(16)25.45%
PT rev (1m)-0.49%
PT rev (3m)2.5%
EPS NQ rev (1m)-0.65%
EPS NQ rev (3m)-4.67%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.47%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.22%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.96%
Valuation
Industry RankSector Rank
PE 8.6
Fwd PE 7.34
P/S 1.96
P/FCF 7.75
P/OCF 7.22
P/B 0.61
P/tB 0.62
EV/EBITDA 14.49
EPS(TTM)0.97
EY11.63%
EPS(NY)1.14
Fwd EY13.62%
FCF(TTM)1.08
FCFY12.9%
OCF(TTM)1.15
OCFY13.84%
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
WACC6.02%
ROIC/WACC0.76
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%41.98%
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 Year116.64%
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%.