TPG
TPG · NasdaqInvestment Advice · Fiscal year ends Dec 31
TPG reported revenue of $2.4B in the fiscal year ended Dec 2025, up 16.1% from the year before. Net income was $185M. Net debt was $896M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | $1.2B | $1.5B | $2.1B | $2.4B |
| Interest expense | – | $19M | $32M | $77M | $102M |
| Pre-tax income | – | – | $84M | −$25M | $667M |
| Income tax | – | $32M | $60M | $52M | $67M |
| Net income | $6M | $92M | $80M | $23M | $185M |
| Diluted EPS | – | −0.19 | −0.04 | −0.42 | 0.45 |
| Diluted shares | – | 309M | 318M | 365M | 374M |
Balance sheet
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | – | $1.1B | $665M | $808M | $826M |
| Net PP&E | – | $24M | $82M | $89M | $99M |
| Goodwill | – | $230M | $436M | $436M | $498M |
| Total assets | – | $7.9B | $9.4B | $10.5B | $13.5B |
| Long-term debt | – | $445M | $945M | $1.3B | $1.7B |
| Total liabilities | – | $4.2B | $6B | $6.9B | $9.4B |
| Shareholders' equity | – | $3.1B | $3.4B | $3.6B | $4.1B |
Cash flow
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | – | $1.4B | $721M | $532M | $1B |
| Depreciation & amortisation | – | $33M | $48M | $135M | $145M |
| Stock-based compensation | – | $628M | $655M | $1B | $814M |
| Acquisitions | – | $0 | $357M | $16M | – |
| Dividend per share | – | 1.09 | 1.40 | 1.65 | 1.98 |
Key ratios
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 23.1% | 36.0% | 16.1% |
| Net margin | – | 7.4% | 5.2% | 1.1% | 7.6% |
| Return on equityBlank when equity is negative | – | 3.0% | 2.4% | 0.7% | 4.5% |
| Cash conversion (CFO ÷ net income) | – | 14.9x | 9.00x | 22.7x | 5.59x |
| Debt ÷ equity | – | 0.14x | 0.28x | 0.36x | 0.42x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −$663M | $280M | $474M | $896M |
Recent filings
More in Investment Advice
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.