TPG (TPG) financial statements
TPG reported revenue of $2.4B in fiscal 2025, up 22.4% a year over 5 years.
Net income was $185M.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TPG's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $883M | $978M | $1.2B | $1.5B | $2.1B | $2.4B |
| Selling, general and admin | $261M | $279M | $369M | $484M | $584M | $702M |
| Interest expense | $16M | $14M | $19M | $32M | $77M | $102M |
| Pre-tax income | — | — | — | $84M | -$25M | $667M |
| Income tax | $10M | $9M | $32M | $60M | $52M | $67M |
| Net income | $0 | $0 | $92M | $80M | $23M | $185M |
| EPS (diluted) | — | $0.00 | -$0.19 | -$0.04 | -$0.42 | $0.45 |
| Diluted shares | — | 0M | 309M | 318M | 365M | 374M |
| Net margin | 0.0% | 0.0% | 7.4% | 5.2% | 1.1% | 7.6% |
Balance sheet
Fiscal years, from TPG's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $858M | $973M | $1.1B | $665M | $808M | $826M |
| Property, plant and equipment | — | $26M | $24M | $82M | $89M | $99M |
| Goodwill | — | $230M | $230M | $436M | $436M | $498M |
| Total assets | — | $9.0B | $7.9B | $9.4B | $10.5B | $13.5B |
| Total liabilities | — | $1.7B | $4.2B | $6.0B | $6.9B | $9.4B |
| Shareholders' equity | — | $6.3B | $3.1B | $3.4B | $3.6B | $4.1B |
| Net debt | -$858M | -$973M | -$1.1B | -$665M | -$808M | -$826M |
Cash flow
Fiscal years, from TPG's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $95M | $1.5B | $1.4B | $721M | $532M | $1.0B |
| Stock-based compensation | $0 | $0 | $628M | $655M | $1.0B | $814M |
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What was TPG's revenue in 2025?
$2.4B in fiscal 2025, from its 10-K filing.
From TPG's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.