TPG Inc. (TPG)

TPG Inc. operates as an alternative asset manager in the United States and internationally. The company provides investment management services to TPG Funds, limited partners, separately managed accounts and clients, and other vehicles; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advice services. In addition, it invests in private equity funds, real estate funds, hedge funds, and credit funds. It also offers rental services for various household items, cars, office machines, and equipment. TPG Inc. was founded in 1992 and is based in Fort Worth, Texas.

Ticker: TPG
Exchange: Nasdaq
Sector: Financial Services
Industry: Asset Management
Market cap: $17.90B
52-week range: $36.95 - $70.38

Valuation

Share price: $46.50 (close of Nov 6, 2026)
P/E (TTM): 36.05x
Price to book: 4.51x
Price to free cash flow: 27.97x
Enterprise value: $20.04B
Book value per share: $10.31

Price performance

Period	Change
1 day	-0.51%
5 days	-0.39%
1 month	+3.40%
3 months	-4.14%
6 months	+3.29%
Year to date	-27.16%
1 year	-14.94%
3 years	+57.52%
All time	+36.76%

Short interest

As of: Oct 15, 2026
Short % of float: 9.21%
Shares short: 14.75M
Days to cover: 5.43
Change since prior report: +5.82%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 4.46%
Return on assets: 1.37%
Net margin: 3.95%
Revenue growth: 33.43%
Free cash flow growth: 99.12%

Cash flow and balance sheet

Free cash flow yield (TTM): 3.58%
Net debt to EBITDA: 3.20x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $4.67B
Net income: $184.59M
Earnings per share: $0.89
Interest expense: $112.11M
Shares outstanding: 138.88M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$4.67B	$184.59M	$0.89
2024-12-31	$3.50B	$23.48M	$0.23
2023-12-31	$2.39B	$80.09M	$0.89
2022-12-31	$2.00B	$92.43M	$1.10
2021-12-31	$4.98B	-	$0.00
2020-12-31	$2.11B	-	$0.00

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	3.95%	4.46%
2024-12-31	0.67%	0.65%
2023-12-31	3.35%	2.38%
2022-12-31	4.61%	3.00%
2021-12-31	0.00%	-
2020-12-31	0.00%	-

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$826.11M	$1.72B
2024-12-31	$808.02M	$1.28B
2023-12-31	$665.19M	$945.05M
2022-12-31	$1.11B	$444.57M
2021-12-31	$972.73M	-
2020-12-31	$861.92M	-
2019-12-31	$655.38M	-

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.00B	$813.74M
2024-12-31	$504.01M	$1.01B
2023-12-31	$703.79M	$654.92M
2022-12-31	$1.37B	$627.71M
2021-12-31	$1.47B	-
2020-12-31	$87.07M	-

Dividend history

Most recent payment: Aug 14, 2026
Paid in the last twelve months: $2.24

Payment date	Dividend per share
2026-08-14	$0.59
2026-05-11	$0.59
2026-02-19	$0.61
2025-11-14	$0.45
2025-08-18	$0.59
2025-05-19	$0.41
2025-02-21	$0.53
2024-11-14	$0.38

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-29	Sep 2026	$0.63
2026-08-04	Jun 2026	$0.59
2026-05-01	Mar 2026	$0.61
2026-02-05	Dec 2025	$0.64
2025-11-04	Sep 2025	$0.55
2025-08-06	Jun 2025	$0.45
2025-05-07	Mar 2025	$0.50
2025-02-11	Dec 2024	$0.52

Filings and sources

Company website: tpg.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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