TPG Inc. (TPG) Financial Statements
TPG financial statements at a glance
TPG reported revenue of $3.22 billion for fiscal year 2025 (ended December 31, 2025), up 27.0% from fiscal year 2024. Net income was $184.59 million, a net margin of 5.7%, and diluted earnings per share were $0.45.
At the end of fiscal year 2025 it had total assets of $13.49 billion, total liabilities of $9.36 billion and shareholders' equity of $1.19 billion, with cash of $826.11 million and total debt of $1.81 billion.
Its operations brought in $1.03 billion of cash; capital spending was $28.80 million, leaving free cash flow of $1.00 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
TPG Inc.
Income Statement
Annual • USD
TPG key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.2B | $2.5B | $1.8B | $1.5B | $5.6B |
| Net income | $184.6M | $23.5M | $80.1M | $92.4M | $0 |
| Diluted EPS | $0.45 | – | -$0.04 | -$0.19 | $0.00 |
| Total assets | $13.5B | $10.5B | $9.4B | $7.9B | $9.0B |
| Total liabilities | $9.4B | $6.9B | $6.0B | $4.9B | $1.7B |
| Shareholders' equity | $1.2B | $784.1M | $579.2M | $509.7M | $1.6B |
| Cash | $826.1M | $808.0M | $665.2M | $1.1B | $978.1M |
| Total debt | $1.8B | $1.6B | $1.3B | $592.5M | $621.4M |
| Operating cash flow | $1.0B | $532.1M | $720.5M | $1.4B | $1.5B |
| Capital spending | $28.8M | $28.1M | $16.7M | $2.4M | $1.8M |
| Free cash flow | $1.0B | $504.0M | $703.8M | $1.4B | $1.5B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2018.
Questions and answers
What was TPG's revenue in fiscal year 2025?
$3.22 billion, up 27.0% from $2.54 billion in fiscal year 2024.
How much profit does TPG make?
TPG reported net income of $184.59 million for fiscal year 2025 (5.7% of revenue).
How much cash and debt does TPG have?
At the end of fiscal year 2025: cash of $826.11 million and total debt of $1.81 billion.
What is TPG's free cash flow?
$1.00 billion in fiscal year 2025 (operating cash flow of $1.03 billion minus capital spending of $28.80 million).
