Tpg Re Finance Trust Inc - Understand $trtx stock

$TRTX Market Cap: $715.4 Million

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Financial Snapshot

Revenue

$367.2M

TTM

Gross Margin

92.07%

TTM

Net Earnings

$62.60M

TTM

Current Assets

$257.6M

Q3 2024

Current Liabilities

$47.41M

Q3 2024

Current Ratio

543.27%

Q3 2024

Total Assets

$3.662B

Q3 2024

Total Liabilities

$2.537B

Q3 2024

Book Value

$1.125B

Q3 2024

Cash

$226.3M

Q3 2024

P/E

11.43

Nov 13, 2024 EST

Free Cash Flow

$103.4M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue	$390.3M	$305.7M	$240.7M	$284.2M	$341.6M	$266.9M	$200.6M	$154.0M	$128.7M
YoY Change	27.66%	27.0%	-15.3%	-16.8%	27.99%	33.05%	30.26%	19.66%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue	$390.3M	$305.7M	$240.7M	$284.2M	$341.6M	$266.9M	$200.6M	$154.0M	$128.7M
Cost Of Revenue	$30.47M	$35.35M	$27.96M	$31.00M	$34.30M	$29.60M	$24.90M	$20.20M	$19.40M
Gross Profit	$359.8M	$270.4M	$212.8M	$253.2M	$307.3M	$237.3M	$175.7M	$133.8M	$109.3M
Gross Profit Margin	92.19%	88.44%	88.38%	89.09%	89.96%	88.91%	87.59%	86.88%	84.93%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Selling, General & Admin	$11.87M	$9.451M	$10.16M	$9.400M	$5.600M	$4.000M	$3.000M	$2.200M	$800.0K
YoY Change	25.64%	-6.93%	8.03%	67.86%	40.0%	33.33%	36.36%	175.0%
% of Gross Profit	3.3%	3.5%	4.77%	3.71%	1.82%	1.69%	1.71%	1.64%	0.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$1.000M							$0.00	$0.00
YoY Change
% of Gross Profit	0.28%							0.0%	0.0%
Operating Expenses	$19.41M	$9.451M	$10.16M	$9.300M	$5.600M	$4.000M	$2.900M	$2.300M	$700.0K
YoY Change	105.33%	-6.93%	9.19%	66.07%	40.0%	37.93%	26.09%	228.57%
Operating Profit	$340.4M	$260.9M	$202.6M	$243.9M	$301.7M	$233.3M	$172.8M	$131.5M	$108.6M
YoY Change	30.46%	28.78%	-16.93%	-19.16%	29.32%	35.01%	31.41%	21.09%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Interest Expense	$273.9M	$160.8M	$85.09M	$107.2M	$174.8M	$126.0M	$78.27M	$61.65M	-$47.60M
YoY Change	70.36%	88.92%	-20.65%	-38.67%	38.74%	61.02%	26.96%	-229.51%
% of Operating Profit	80.46%	61.61%	42.0%	43.97%	57.95%	54.02%	45.29%	46.88%	-43.83%
Other Income/Expense, Net	$49.88M	$44.80M	$38.12M	$40.34M	$39.84M	$33.60M	$27.83M	$22.44M	$20.17M
YoY Change	11.34%	17.53%	-5.51%	1.27%	18.57%	20.7%	24.06%	11.23%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Pretax Income	-$116.4M	-$59.54M	$139.6M	-$136.5M	$126.9M	$107.3M	$94.50M	$69.96M	$60.97M
YoY Change	95.46%	-142.64%	-202.27%	-207.59%	18.28%	13.53%	35.07%	14.75%
Income Tax	$259.0K	$530.0K	$1.064M	$305.0K	$579.0K	$340.0K	$146.0K	-$5.000K	$1.612M
% Of Pretax Income			0.76%		0.46%	0.32%	0.15%	-0.01%	2.64%
Net Earnings	-$116.6M	-$60.07M	$138.6M	-$136.8M	$126.3M	$106.9M	$94.35M	$69.97M	$59.36M
YoY Change	94.17%	-143.35%	-201.26%	-208.32%	18.11%	13.34%	34.85%	17.88%
Net Earnings / Revenue	-29.89%	-19.65%	57.56%	-48.14%	36.98%	40.07%	47.03%	45.43%	46.12%
Basic Earnings Per Share	-$1.69	-$0.95	$0.92	-$2.03	$1.73	$1.70	$1.74	$1.69	$1.81
Diluted Earnings Per Share	-$1.69	-$0.95	$0.87	-$2.03	$1.73	$1.70	$1.74	$1.69	$1.81

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Cash & Short-Term Investments	$206.4M	$254.1M	$260.6M	$319.7M	$79.20M	$39.70M	$75.00M	$103.1M	$104.9M
YoY Change	-18.77%	-2.53%	-18.48%	303.66%	99.5%	-47.07%	-27.26%	-1.72%
Cash & Equivalents	$206.4M	$254.1M	$260.6M	$319.7M	$79.20M	$39.70M	$75.00M	$103.1M	$104.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$66.51M	$164.3M	$188.0K	$1.400M	$16.10M	$96.50M	$400.0K	$35.40M	$66.90M
Other Receivables	$32.20M	$41.74M	$26.62M	$27.40M	$28.10M	$20.70M	$16.80M	$14.00M	$12.20M
Total Short-Term Assets	$305.1M	$460.1M	$287.4M	$348.5M	$123.4M	$156.9M	$92.20M	$152.5M	$184.0M
YoY Change	-33.69%	60.07%	-17.52%	182.41%	-21.35%	70.17%	-39.54%	-17.12%
Property, Plant & Equipment	$174.1M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments				$0.00	$787.6M	$74.40M	$85.90M	$61.50M	$1.300M
YoY Change				-100.0%	958.6%	-13.39%	39.67%	4630.77%
Other Assets	$642.0K	$265.0K	$404.0K	$0.00	$500.0K	$1.000M	$700.0K	$800.0K	$1.000M
YoY Change	142.26%	-34.41%		-100.0%	-50.0%	42.86%	-12.5%	-20.0%
Total Long-Term Assets	$3.909B	$5.085B	$4.931B	$4.560B	$5.770B	$4.370B	$3.263B	$2.513B	$1.936B
YoY Change	-23.12%	3.13%	8.12%	-20.96%	32.03%	33.91%	29.85%	29.82%
Total Assets	$4.214B	$5.545B	$5.218B	$4.909B	$5.893B	$4.527B	$3.355B	$2.666B	$2.120B
YoY Change
Accounts Payable	$4.913M	$5.984M	$5.609M	$5.600M	$9.500M	$6.000M	$5.200M	$4.000M	$6.200M
YoY Change	-17.9%	6.69%	0.16%	-41.05%	58.33%	15.38%	30.0%	-35.48%
Accrued Expenses	$24.81M	$36.21M	$14.29M	$17.10M	$14.80M	$14.30M	$10.50M	$9.500M	$5.600M
YoY Change	-31.48%	153.48%	-16.46%	15.54%	3.5%	36.19%	10.53%	69.64%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$2.314B	$1.044B	$1.827B	$0.00	$371.0M
YoY Change				-100.0%	121.66%	-42.85%		-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$48.89M	$61.17M	$44.05M	$52.20M	$2.372B	$1.093B	$1.866B	$31.80M	$407.4M
YoY Change	-20.07%	38.85%	-15.61%	-97.8%	116.89%	-41.4%	5767.61%	-92.19%
Long-Term Debt	$3.039B	$4.161B	$3.708B	$3.389B	$2.017B	$2.106B	$287.9M	$1.663B	$996.0M
YoY Change	-26.95%	12.21%	9.42%	68.0%	-4.21%	631.4%	-82.68%	66.93%
Other Long-Term Liabilities	$1.281M	$1.459M	$1.366M	$1.400M	$200.0K	$500.0K	$300.0K	$500.0K	$0.00
YoY Change	-12.2%	6.81%	-2.43%	600.0%	-60.0%	66.67%	-40.0%
Total Long-Term Liabilities	$3.041B	$4.162B	$3.709B	$3.390B	$2.017B	$2.106B	$288.2M	$1.663B	$996.0M
YoY Change	-26.94%	12.2%	9.41%	68.05%	-4.22%	630.81%	-82.67%	66.98%
Total Liabilities	$3.090B	$4.223B	$3.753B	$3.442B	$4.389B	$3.200B	$2.154B	$1.695B	$1.403B
YoY Change	-26.84%	12.52%	9.04%	-21.57%	37.17%	48.54%	27.09%	20.77%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Basic Shares Outstanding	77.58M shares	77.30M shares	76.98M	76.66M	72.74M	63.03M	54.19M	41.41M	32.87M
Diluted Shares Outstanding	77.58M shares	77.30M shares	81.68M	76.66M	72.74M	63.03M	54.19M	41.41M	32.87M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $715.4 Million

About TPG RE Finance Trust Inc

TPG RE Finance Trust, Inc. is a holding company, which engages in the provision of commercial real estate finance services. The company is headquartered in San Francisco, California. The company went IPO on 2017-07-20. The company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate. The firm conduct its operations primarily through its wholly owned subsidiary, TPG RE Finance Trust Holdco, LLC. Its principal business activity is to directly originate and acquire a diversified portfolio of commercial real estate related assets, consisting primarily of first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets in the United States. The company invests primarily in commercial mortgage loans and other commercial real estate-related debt instruments. The firm's portfolio consists approximately 53 loans, which are held for investment.

Industry: Real Estate Investment Trusts Peers: AFC Gamma Inc Annaly Capital Management Inc Ares Commercial Real Estate Corp ARMOUR Residential REIT Inc Broadmark Realty Capital Inc. Dynex Capital Inc Ellington Financial Inc Granite Point Mortgage Trust Inc Invesco Mortgage Capital Inc Redwood Trust Inc