TPG RE Finance Trust, Inc. Financial Ratios — TRTX Stock

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	8.29	8.69	8.46	8.87	-11.23	8.69	-5.29	-10.7	5.33	4.17
Return on Assets (%)	- -	2.92	3.13	2.71	2.42	-2.53	2.74	-1.12	-2.39	1.87	1.48
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	0.03	- -	- -	- -	- -	- -	- -	2.5	10.41	8.35
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	79.05	78.81	79.23	77.61	76.96	493.5	82.22	-38.1	-95.33	49.43	40.12
Profit Margin (%)	76.96	78.82	79.11	77.36	76.6	494.6	81.59	-38.44	-95.55	49.17	39.87
Net Income to Common Margin (%)	76.94	78.8	79.1	77.36	76.19	562.22	69.86	-47.13	-107.24	39.47	30.06
Effective Tax Rate (%)	2.64	- -	0.15	0.32	0.46	- -	0.76	- -	- -	0.53	0.62
Dvd Payout Ratio (%)	66.81	104.53	85.1	96.51	98.64	-59.75	66.06	-107.69	-56.64	126.99	167.66
Sustainable Growth Rate (%)	- -	-0.38	1.29	0.3	0.12	-17.93	2.95	-10.98	-16.76	-1.44	-2.82

Credit (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1,367	649	288	1,656	4,332	3,389	3,708	4,161	3,039	2,569	3,289
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	1,367	649	288	1,656	4,332	3,389	3,708	4,161	3,039	2,569	3,289
Total Debt/EBITDA	- -	23,188.54	- -	- -	- -	- -	- -	- -	995.53	163.29	260.45
Net Debt/EBITDA	- -	19,505.46	- -	- -	- -	- -	- -	- -	927.93	151.2	253.52
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	33.79	36.42	35.8	29.32	25.52	25.81	28.07	23.84	26.69	29.86	24.24
Long-Term Debt/Equity (%)	190.83	66.89	23.96	124.76	288.01	267.48	253.15	314.71	270.22	230.59	307.95
Long-Term Debt/Capital (%)	65.62	40.08	19.33	55.51	74.23	72.79	71.68	75.89	72.99	69.75	75.49
Long-Term Debt/Total Assets (%)	64.49	24.36	8.58	36.58	73.51	69.03	71.06	75.03	72.12	68.84	74.64
Total Debt/Equity (%)	190.83	66.89	23.96	124.76	288.01	267.48	253.15	314.71	270.22	230.59	307.95
Total Debt/Capital (%)	65.62	40.08	19.33	55.51	74.23	72.79	71.68	75.89	72.99	69.75	75.49
Total Debt/Total Assets (%)	64.49	24.36	8.58	36.58	73.51	69.03	71.06	75.03	72.12	68.84	74.64
Net Debt to Equity	176.18	56.26	17.72	121.77	282.75	242.25	235.36	295.5	251.87	213.52	299.75
Net Debt/Capital (%)	63.79	36.01	15.05	54.91	73.87	70.78	70.18	74.72	71.58	68.1	74.98
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	3	16	13
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	3	16	13
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	33.79	36.42	35.8	29.32	25.52	25.81	28.07	23.84	26.69	29.86	24.24
Long-Term Debt/Equity (%)	190.83	66.89	23.96	124.76	288.01	267.48	253.15	314.71	270.22	230.59	307.95
Long-Term Debt/Capital (%)	65.62	40.08	19.33	55.51	74.23	72.79	71.68	75.89	72.99	69.75	75.49
Long-Term Debt/Total Assets (%)	64.49	24.36	8.58	36.58	73.51	69.03	71.06	75.03	72.12	68.84	74.64
Total Debt/Equity (%)	190.83	66.89	23.96	124.76	288.01	267.48	253.15	314.71	270.22	230.59	307.95
Total Debt/Capital (%)	65.62	40.08	19.33	55.51	74.23	72.79	71.68	75.89	72.99	69.75	75.49
Total Debt/Total Assets (%)	64.49	24.36	8.58	36.58	73.51	69.03	71.06	75.03	72.12	68.84	74.64
CFO/Total Liabilities	7.03	5.06	4.23	3.37	2.77	3.63	3.52	2.38	2.59	4.28	2.71
CFO/CapEx	- -	171.47	821.38	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.03	0.03	0.35	0.25	0.23	0.05	0.12	- -	-0.07	-0.03	-0.06

Working Capital (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	1.38	3.58	2.06	2.04	-0.76	6.13	1.34	0.8	2.39	5.33
Days Sales Outstanding	- -	264.15	101.96	177.52	178.66	-480.17	59.54	271.95	455.64	152.52	68.52
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	1,155	1,228	1,541	815	951	526	506	689	674
- Cash & Cash Equivalents	105	103	75	40	79	320	261	254	206	190	88
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1,367	649	288	1,656	4,332	3,389	3,708	4,161	3,039	2,569	3,289
Enterprise Value	1,262	546	1,368	2,769	5,006	3,885	4,398	4,432	3,339	3,067	3,876
Total Capital	2,083	1,620	1,489	2,983	5,836	4,656	5,173	5,483	4,164	3,683	4,357
Total Debt/Capital (%)	65.62	40.08	19.33	55.51	74.23	72.79	71.68	75.89	72.99	69.75	75.49
Total Debt / EV	1.08	1.19	0.21	0.6	0.87	0.87	0.84	0.94	0.91	0.84	0.85
EV/Sales	16.36	6.15	11.47	20.04	30.36	- -	25.9	28.36	27.35	20.29	25.62
EV/EBITDA	- -	19,505.46	- -	- -	- -	- -	- -	- -	1,093.72	194.97	306.92
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	12.8	6.37	15	25.72	41.14	29.41	33.28	44.1	41.67	27.35	42.89
EV/Free Cash Flow to Firm	12.8	6.33	14.98	25.72	41.14	29.41	33.28	44.1	41.67	27.35	42.89
Diluted Market Cap	- -	- -	1,032	1,152	1,475	814	1,006	525	504	679	684
Diluted Enterprise Value	1,262	546	1,245	2,768	5,727	3,883	4,454	4,431	3,337	3,058	3,885
EV per Share	21.22	9.18	22.56	41.23	65.85	50.59	56.98	57.25	42.88	37.86	49.49
TTM Sales	77	89	119	138	165	-28	170	156	122	151	151
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	3	16	13
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	99	86	91	108	122	132	132	100	80	112	90
TTM Free Cash Flow to Firm	99	86	91	108	122	132	132	100	80	112	90

Multiples (USD)

API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	11.31	10.7	12.12	6.16	7.61	5.22	6.29	6.06	7.57
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	1,262	546	1,368	2,769	5,006	3,885	4,398	4,432	3,339	3,067	3,876
Low Price	- -	- -	18.61	17.81	18.07	2.45	9.58	6.31	4.64	5.12	6.47
EV/Sales	16.36	6.15	11.47	20.04	30.36	- -	25.9	28.36	27.35	20.29	25.62
EV/EBITDA	- -	19,505.46	- -	- -	- -	- -	- -	- -	1,093.72	194.97	306.92
Price/Earnings	- -	- -	10.94	10.78	11.74	- -	7.99	- -	- -	11.37	15.01
Price/Earnings Average	- -	- -	11.39	11.68	11.46	-5.23	8	-10.36	-4.15	10.84	14.74
Price/Earnings High	- -	- -	14.7	12.41	12.04	-10.5	9.44	-14.04	-5.47	12.92	17.17
Price/Earnings Low	- -	- -	10.69	10.5	10.46	-1.21	6.22	-6.62	-2.75	6.85	11.28
Price/Book Value	- -	- -	0.96	0.93	1.02	0.64	0.65	0.4	0.45	0.62	0.63
Price/Book Value Average	- -	- -	1	1	1	0.64	0.65	0.58	0.48	0.59	0.62
Price/Book Value High	- -	- -	1.29	1.07	1.05	1.29	0.77	0.78	0.64	0.7	0.72
Price/Book Value Low	- -	- -	0.94	0.9	0.91	0.15	0.5	0.37	0.32	0.37	0.47
Price/Tangible Book Value	- -	- -	0.96	0.93	1.02	0.64	0.65	0.4	0.45	0.62	0.63
Price/Tangible Book Value Average	- -	- -	1	1	1	0.64	0.65	0.58	0.48	0.59	0.62
Price/Tangible Book Value High	- -	- -	1.29	1.07	1.05	1.29	0.77	0.78	0.64	0.7	0.72
Price/Tangible Book Value Low	- -	- -	0.94	0.9	0.91	0.15	0.5	0.37	0.32	0.37	0.47
Price/Sales	- -	- -	8.66	8.34	8.94	-29.43	5.58	3.36	4.13	4.49	4.51
Price/Sales Average	- -	- -	9.01	9.03	8.73	-29.39	5.59	4.88	4.45	4.28	4.43
Price/Sales High	- -	- -	11.63	9.6	9.18	-59.02	6.6	6.62	5.87	5.1	5.16
Price/Sales Low	- -	- -	8.46	8.12	7.97	-6.79	4.34	3.12	2.95	2.7	3.39
Price/Cash Flow	- -	- -	11.32	10.7	12.12	6.16	7.18	5.22	6.29	6.05	7.56
Price/Cash Flow Average	- -	- -	11.79	11.6	11.83	6.15	7.18	7.59	6.77	5.77	7.42
Price/Cash Flow High	- -	- -	15.21	12.32	12.44	12.36	8.47	10.29	8.94	6.87	8.64
Price/Cash Flow Low	- -	- -	11.06	10.42	10.8	1.42	5.58	4.85	4.49	3.64	5.68
Price/Free Cash Flow Average	- -	- -	11.77	11.6	11.83	6.15	7.62	7.59	6.77	5.77	7.43
Price/Free Cash Flow High	- -	- -	15.19	12.32	12.44	12.36	8.99	10.29	8.94	6.88	8.66
Price/Free Cash Flow Low	- -	- -	11.05	10.42	10.8	1.42	5.92	4.85	4.49	3.65	5.69
EV/Sales Average	16.36	6.15	11.86	21.32	34.91	- -	25.91	29.89	27.67	20.08	25.54
EV/Sales High	16.36	6.15	14.79	21.92	35.38	- -	26.91	31.63	29.1	20.91	26.26
EV/Sales Low	16.36	6.15	11.24	20.34	34.12	- -	24.65	28.12	26.17	18.48	24.51
EV/EBITDA Average	- -	19,505.46	- -	- -	- -	- -	- -	- -	1,106.36	192.94	305.93
EV/EBITDA High	- -	19,505.46	- -	- -	- -	- -	- -	- -	1,163.35	200.94	314.61
EV/EBITDA Low	- -	19,505.46	- -	- -	- -	- -	- -	- -	1,046.28	177.56	293.64
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	19.05	18.28	20.27	10.62	12.32	6.79	6.5	8.5	8.61
High Price	- -	- -	25.59	21.05	20.8	21.3	14.55	13.38	9.23	9.66	9.85
Enterprise Value Average	1,262	546	1,415	2,947	5,756	3,883	4,399	4,670	3,378	3,035	3,863
Enterprise Value High	1,262	546	1,764	3,030	5,834	4,705	4,570	4,942	3,552	3,161	3,973
Enterprise Value Low	1,262	546	1,341	2,812	5,626	3,257	4,187	4,395	3,194	2,793	3,708

Shares Outstanding	59	59	61	67	76	77	77	77	78	81	78
Diluted Weighted Avg Shares	61	61	54	63	73	77	82	77	78	80	79
Basic Weighted Avg Shares	39	39	54	63	73	77	77	77	78	80	79
Revenue per Share	1.96	2.26	2.2	2.19	2.27	-0.36	2.21	2.02	1.57	1.89	1.91
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	0.04	0.2	0.16
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.51	1.78	1.74	1.7	1.73	-2.03	1.54	-0.95	-1.69	0.75	0.57
Basic EPS from Cont Ops	1.51	1.78	1.74	1.7	1.74	-1.78	1.8	-0.78	-1.5	0.93	0.76
Diluted EPS, GAAP	0.98	1.15	1.74	1.7	1.73	-2.03	1.45	-0.95	-1.69	0.75	0.57
Diluted EPS from Cont Ops	0.98	1.15	1.74	1.7	1.74	-1.78	1.7	-0.78	-1.5	0.93	0.76
Dividend per Share	1.01	1.86	1.48	1.64	1.71	1.46	1.28	1.2	1.14	1.13	1.15
Cash Flow per Share	2.51	2.18	1.68	1.71	1.67	1.72	1.72	1.3	1.03	1.41	1.14
Free Cash Flow per Basic Share	2.51	2.17	1.68	1.71	1.67	1.72	1.72	1.3	1.03	1.41	1.14
Cash & Equivalents per Share	1.76	1.73	1.24	1.7	11.4	4.16	3.38	3.28	2.65	2.35	1.12
Book Value per Share	12.04	16.32	19.82	19.76	19.78	16.5	18.98	17.08	14.44	13.75	13.64
Tangible Book Value per Share	12.04	16.32	19.82	19.76	19.78	16.5	18.98	17.08	14.44	13.75	13.64

TPG RE Finance Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)