TPG financial statements
The full income statement, balance sheet, and cash-flow statement for TPG Inc. (TPG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 4.67B+33.4% | 3.50B+46.5% | 2.39B+91.7% | 1.25B-74.9% | 4.98B+135.3% | |
| 4.09B+14.4% | 3.58B+51.4% | 2.36B+21.5% | 1.94B+112.2% | 917M+12.1% | ||
| Selling, general & administrative | 702M+20.3% | 584M+20.7% | 484M+31.1% | 369M+32.4% | 279M+6.8% | |
| General & administrative | 702M+20.3% | 584M+20.7% | 484M+31.1% | 369M+32.4% | 279M+6.8% | |
| Amortization of intangibles | 125M+7.8% | 116M+181.1% | 41.2M+45.1% | 28.4M+43.4% | 19.8M+19700.0% | |
| Interest expense | 102M+32.7% | 77.1M+142.5% | 31.8M+67.4% | 19.0M+32.9% | 14.3M-8.9% | |
| Interest & investment income | 93.6M+13.1% | 82.7M+94.1% | 42.6M+364.9% | 9.17M+1733.6% | 500K+0.0% | |
| Other non-operating income | 90.8M+69.9% | 53.4M-7.2% | 57.5M+170.3% | -81.8M-113.5% | 605M+299.7% | |
| Equity-method income | -838K+31.1% | -1.22M+6.8% | -1.31M-262.8% | 802K-99.7% | 230M+641.9% | |
| Gain (loss) on equity securities | 218K+105.6% | -3.90M+47.3% | -7.39M+91.4% | -85.8M-210.6% | 77.6M+1752.4% | |
| Pre-tax income | 667M+2785.2% | -24.8M-129.7% | 83.7M | — | — | |
| Income tax | 67.0M+28.6% | 52.1M-13.6% | 60.3M+85.5% | 32.5M+259.4% | 9.04M-7.6% | |
| 185M+686.0% | 23.5M-70.7% | 80.1M-13.3% | 92.4M | 0.00 | ||
| Net income to non-controlling interest | 364M+382.2% | 75.5M+219.2% | 23.7M | — | — | |
| Preferred dividends | -44.1M-128.6% | 155M+86.4% | 82.9M-43.7% | 147M | — | |
| Net income to common | 124M+40417.3% | -307K-100.4% | 71.2M-18.5% | 87.4M | — | |
| $0.45+207.1% | -$0.42-950.0% | -$0.04+78.9% | -$0.19 | $0.00 | ||
| EPS (basic) | $0.89 | $0.00-100.0% | $0.89-19.1% | $1.10 | $0.00 | |
| Weighted-avg shares (basic) | 139M+38.6% | 100M+24.8% | 80.3M+1.4% | 79.3M | — | |
| Weighted-avg shares (diluted) | 374M+2.6% | 365M+14.7% | 318M+2.9% | 309M | — | |
| Dividends per share | $1.98+20.0% | $1.65+17.9% | $1.40+28.4% | $1.09 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 826M+2.2% | 808M+21.5% | 665M-39.9% | 1.11B+13.9% | 973M+13.3% | |
| 13.5B+28.1% | 10.5B+12.4% | 9.37B+18.0% | 7.94B-11.4% | 8.96B | ||
| Property, plant & equipment | 98.6M+10.3% | 89.5M+9.5% | 81.7M+239.6% | 24.1M-8.6% | 26.3M | |
| Operating lease right-of-use | 552M+164.9% | 209M-8.4% | 228M+74.6% | 130M-17.2% | 157M | |
| Goodwill | 498M+14.2% | 436M+0.0% | 436M+89.4% | 230M+0.0% | 230M | |
| Intangible assets | 660M+23.6% | 534M-17.8% | 650M+376.9% | 136M-17.2% | 165M | |
| Deferred tax assets | 861M+143.9% | 353M+1365.4% | 24.1M | — | — | |
| 9.36B+34.8% | 6.94B+15.6% | 6.01B+43.0% | 4.20B+147.1% | 1.70B | ||
| Long-term debt | 1.72B+34.4% | 1.28B+35.7% | 945M+112.6% | 445M | — | |
| Operating lease liability (total) | 605M+171.0% | 223M-5.3% | 236M+59.3% | 148M | — | |
| 4.14B+15.2% | 3.59B+6.9% | 3.36B+8.9% | 3.09B-50.7% | 6.26B | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Additional paid-in capital | 1.48B+52.1% | 971M+58.2% | 613M+21.1% | 507M | — | |
| Retained earnings | -292M-56.0% | -187M-439.2% | -34.7M-1373.2% | 2.72M | — | |
| Accumulated other comprehensive income | 0.00 | — | — | — | — | |
| Non-controlling interest | 2.95B+5.1% | 2.81B+0.9% | 2.78B+8.0% | 2.58B | — | |
| Total equity incl. non-controlling | 4.14B+15.2% | 3.59B+6.9% | 3.36B+8.9% | 3.09B-50.7% | 6.26B | |
| Total liabilities & equity | 13.5B+28.1% | 10.5B+12.4% | 9.37B+18.0% | 7.94B-11.4% | 8.96B | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.03B+94.0% | 532M-26.1% | 721M-47.6% | 1.38B-6.7% | 1.47B+1446.0% | ||
| Depreciation & amortization | 145M+6.8% | 135M+184.0% | 47.7M+44.5% | 33.0M+55.4% | 21.2M+197.4% | |
| Intangible amortization | 125M+7.8% | 116M+181.1% | 41.2M+45.1% | 28.4M+43.4% | 19.8M+19700.0% | |
| Deferred income taxes | 29.8M+456.6% | 5.36M-73.3% | 20.1M+174.0% | -27.1M-21987.1% | 124K+114.4% | |
| -264M-493.6% | -44.5M+88.1% | -374M-12302.5% | -3.01M+92.0% | -37.7M+65.1% | ||
| Acquisitions | 0.00-100.0% | 16.3M-95.4% | 357M | 0.00+100.0% | -24.8M | |
| -750M-117.6% | -345M+56.3% | -789M+36.3% | -1.24B+6.4% | -1.32B-628.3% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 49.8M | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | — | — | — | — | 0.00 | |
| Net change in cash | 18.1M-87.3% | 143M+132.3% | -442M-428.1% | 135M+17.7% | 115M-51.8% | |
| Interest paid | 92.1M+40.9% | 65.4M+94.9% | 33.5M+82.8% | 18.4M+16.7% | 15.7M+5.9% | |
| Income taxes paid | 30.3M-28.4% | 42.3M-17.3% | 51.1M+5.8% | 48.3M+465.4% | 8.55M+25.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 24.5B+5.6% | 23.2B+73.9% | 13.4B+55.3% | 8.60B | — | |
| P/E | 132.9×-86.6% | 988.7×+570.7% | 147.4× | — | — | |
| P/S | 5.3×-20.8% | 6.6×-38.1% | 10.7×+519.9% | 1.7× | — | |
| P/B | 5.9×-8.3% | 6.5×+47.1% | 4.4×+59.3% | 2.8× | — | |
| Earnings yield | 0.75%+644.1% | 0.10%-85.1% | 0.68% | — | — | |
| Dividend yield | 3.1%+18.1% | 2.6%-19.0% | 3.2%-17.2% | 3.9% | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: TPG’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TPG filings on SEC EDGAR → Not investment advice.