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TPG Inc.

TPG Financial Asset Management

TPG Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 33.4% from fiscal 2024. In the quarter to June 2026, revenue grew 100.0%, EPS grew 1,366.7%, free cash flow fell 14.3% and total debt rose 45.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

42.52 0.85 −1.96%
Market cap
$16.7B
P/E
36.0×
Fwd P/E
14.3×
Dividend yield
5.27%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 15.72%

Capital & Financial Ratios $m

Market Cap 16,680.00
Revenue 5,056.23
Net Income 678.04
Free Cash Flow 917.48
Net Debt 1,385.87
Current Ratio 0.31
Debt/Equity 0.63
P/E ratio 36.03 (above 35: high)
Fwd P/E 14.30
P/S ratio 1.38
P/B ratio 1.87
Past 5Y EPS Growth (49.31%) (below 0%: weak)
This Y EPS Growth 15.53% (at or above 15%: strong)
Next Y EPS Growth 26.84% (at or above 15%: strong)
Next Y revenue growth (62.72%) (below 0%: weak)
Next 5Y EPS Growth 20.88% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 37.95%
10-year low 10-year high
P/S against its own 10 years 39.87%
10-year low 10-year high
P/B against its own 10 years 76.05%
10-year low 10-year high

Dividends

Payout Ratio 3.39
Annual Dividend Rate 2.24
Annual Dividend Yield 5.27%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.79
0.61
0.59
0.59
2025 1.40
0.53
0.41
0.59
0.45
2024 1.65
0.44
0.41
0.42
0.38
2023 1.40
0.50
0.20
0.22
0.48
2022 1.09
0.44
0.39
0.26
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 678 821 839 958
Receivables — — — —
Inventory — — — —
Other — — — —
678 1,174 1,700 1,888
2023 2024 2025 Q'26
Payables 172 212 231 366
ST’ Debt — — — —
Other — — — —
4,268 4,588 5,630 5,997

Compound Annual Growth %

10y 5y 3y
Sales — 17.17% 32.61%
Cash Flow — 61.01% (9.13%)
Earnings — (33.68%) 25.93%
Book Value — 15.44% 10.26%

Revenue $m

Mar Jun Sep Dec Year
’26 500 1,841 — — —
’25 1,035 921 1,224 1,491 4,670
’24 824 744 855 1,076 3,500
’23 643 603 160 983 2,390
’22 1,111 (108) 561 439 2,003
’21 1,205 2,181 511 1,079 4,976
’20 — — — 1,550 2,115
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 177 348 — — —
’25 198 386 492 (44) 1,032
’24 437 215 69 (188) 532
’23 36 505 692 (512) 721
’22 714 (9) 84 587 1,376
’21 241 (306) 1,122 417 1,475
’20 — — — 95 95
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 160 328 — — —
’25 192 383 482 (53) 1,004
’24 427 208 58 (190) 504
’23 35 500 687 (518) 704
’22 712 (10) 84 587 1,373
’21 241 (306) 1,121 417 1,473
’20 — — — 87 87
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.22) 0.39 — — —
’25 0.00 (0.05) 0.20 0.29 0.45
’24 (0.11) (0.19) (0.08) 0.03 (0.42)
’23 (0.01) 0.02 (0.09) 0.04 (0.04)
’22 0.53 (0.37) 0.09 (0.03) (0.19)
’21 — — — 0.25 1.80
’20 — — — — 13.44
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — 23.09 24.74 38.20 37.52

Analyst estimates 2026–2028

Powerpack
High — — — — — — 44.43 44.46 72.98 70.11
People
People Employees — — — — — 1,013 1,110 1,850 1,900 1,900
Revenue/emp, $m — — 0.00 0.00 0.00 4.91 1.80 1.29 1.84 2.46
Income, $m
Income, $m Revenue — — 1,404 1,988 2,115 4,976 2,003 2,390 3,500 4,670
Gross margin, % — — 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT — — 719 1,186 1,449 4,665 (24) 84 (25) 667
EBT margin, % — — 51.21 59.66 68.50 93.74 (1.19) 3.50 (0.71) 14.27
Net income — — 265 481 1,439 4,656 (56) 23 (77) 600
Depreciation — — — — — — 33 48 135 145
Per share, $
Per share, $ Revenue — — 20.35 28.81 30.65 70.09 25.27 29.75 34.92 33.63
Earnings — — 3.83 6.96 13.44 2.91 1.10 0.89 0.00 0.89
Cash flow — — 3.30 1.13 1.38 20.77 17.36 8.97 5.31 7.43
Capex — — 0.00 0.00 (0.12) (0.03) (0.03) (0.21) (0.28) (0.21)
Free cash flow — — 3.30 1.13 1.26 20.75 17.33 8.76 5.03 7.23
Book value — — 0.00 29.25 0.00 88.19 38.94 41.84 35.84 29.78
Shares, m — — 69 69 69 71 79 80 100 139
Valuation, ×
Valuation, × P/E — — 2.65 2.65 2.65 2.65 10.81 45.91 721.47 70.93
P/S — — 0.54 0.54 0.54 0.54 1.12 1.37 1.80 1.90
P/B — — 0.43 0.43 0.43 0.43 0.73 0.98 1.75 2.14
EV/Sales — — 0.43 0.43 0.43 0.43 0.78 1.49 1.93 2.09
EV/FCF — — 1.46 1.46 1.46 1.46 1.14 5.04 13.41 9.71
Cash, $m
Cash, $m Operating cash flow — — 228 78 95 1,475 1,376 721 532 1,032
Capex — — (5) (8) (8) (2) (2) (17) (28) (29)
Free cash flow — — 228 78 87 1,473 1,373 704 504 1,004
Balance, $m
Balance, $m Working capital — — — — — 857 (2,242) (3,589) (3,414) (3,930)
Total debt — — — 462 459 444 445 945 1,282 1,723
Net debt — — — (207) (416) (547) (681) 267 461 883
Shareholders’ equity — — — 2,018 — 6,261 3,086 3,361 3,592 4,136
Returns, %
Returns, % ROA — — 0.00 0.00 52.24 0.00 1.09 0.93 0.24 1.54
ROIC — — — 0.00 0.00 44.40 1.51 0.45 (1.21) 7.17
ROE — — 0.00 0.00 64.25 0.00 1.98 2.48 0.68 4.78
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

TPG Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TROW T. Rowe Price Group, Inc. $21.6B 10.1× 11.9× +10.68% (above 0%: growing) +28.57% (above 0%: growing) −3.59% (below 0%: shrinking) 100.00% 28.34% Compare
TPG TPG Inc. $16.7B 36.0× 14.3× +100.04% (above 0%: growing) n/m −14.25% (below 0%: shrinking) 100.00% 20.65%
BEN Franklin Resources Inc $15.9B 21.1× 18.2× +14.26% (above 0%: growing) +106.67% (above 0%: growing) −55.71% (below 0%: shrinking) 100.00% 9.15% Compare
CRBG Corebridge Financial, Inc. $15.4B 20.1× 7.5× +43.58% (above 0%: growing) n/m +83.01% (above 0%: growing) 31.27% 4.68% Compare
EQH Equitable Holdings, Inc. $14.6B — (loss-making) 6.8× −29.81% (below 0%: shrinking) n/m +89.52% (above 0%: growing) 50.84% (26.36%) Compare
OWL Blue Owl Capital Inc. $14.0B 73.8× 28.8× +7.10% (above 0%: growing) −33.33% (below 0%: shrinking) +9.82% (above 0%: growing) 100.00% 15.46% Compare
ARCC Ares Capital Corporation $13.6B 13.9× 12.0× +3.09% (above 0%: growing) −53.85% (below 0%: shrinking) +254.13% (above 0%: growing) 100.00% 75.65% Compare
CG Carlyle Group Inc. $13.1B 36.0× 11.9× −28.57% (below 0%: shrinking) −57.30% (below 0%: shrinking) +82.56% (above 0%: growing) 100.00% 39.97% Compare
IVZ Invesco Ltd. $12.7B — (loss-making) 11.1× +20.46% (above 0%: growing) n/m +32.67% (above 0%: growing) 65.65% 19.95% Compare
Median of peers $14.3B 20.6× 11.9× +8.89% −33.33% +57.61% 100.00% 17.70%

All 120 Asset Management stocks →

TPG Inc. (TPG) key facts

  • Strength: TPG Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 33.4% from fiscal 2024.
  • TPG Inc. (TPG) is an Asset Management company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, TPG traded at $42.52, a market capitalization of $16.7 billion.
  • TPG Inc. pays an annual dividend of $2.24 per share, a yield of 5.27%.
  • Return on equity was 4.78% and debt-to-equity 0.63.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

TPG Inc. (TPG) Latest News

4 May

Impact 5 ·

1 Apr

Impact 5 ·

31 Mar

Impact 5 ·

19 Feb

Impact 5 ·
stockrow.com/TPG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com