TPG Inc.
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TPG FY 2025 request
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/api/financials?ticker=TPG&year=2025&quarter=4&full_year_mode=true
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 2,424,138 | 2,087,076 | +16.1% |
Show Product Lines breakouts |
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| Expense reimbursements and other | 288,034 | 245,830 | +17.2% |
| Incentive fees | 49,287 | 33,032 | +49.2% |
| Management fees | 1,826,411 | 1,637,990 | +11.5% |
| Monitoring fees | 29,012 | 29,625 | -2.1% |
| Transaction fees | 231,394 | 140,599 | +64.6% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 18,104,095 | 13,639,080 | +32.7% |
| Other Revenue | 2,246,074 | 1,413,006 | +59.0% |
| Revenue | 4,670,212 | 3,500,082 | +33.4% |
Show Related Party Transaction breakouts |
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| Annual Administration · Related Party | 12.7 | 15.9 | -20.1% |
| Labor And Related Expense | 894,382 | 835,328 | +7.1% |
| Allocated Share Based Compensation Expense | 813,741 | 1,006,312 | -19.1% |
Show Award Type breakouts |
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| Common Units | 227.8 | 324.1 | -29.7% |
| Market Condition Awards | 32.2 | 29.2 | +10.3% |
| Ordinary Performance Condition Awards | 13.6 | 3.1 | +338.7% |
| Ordinary Service Awards | 174.6 | 94.2 | +85.4% |
| Other Liability-Classified Awards · Angelo Gordon | -67.7 | 55.3 | -222.4% |
| Other Liability-Classified Awards · Peppertree | 23.3 | — | — |
| Restricted Stock Units RSU | 345.9 | 261.9 | +32.1% |
| Restricted Stock Units RSU · General And Administrative Expense | 14 | 6.4 | +118.7% |
| RPH Units | 34.3 | 55.1 | -37.7% |
| Service Awards | 300.1 | 229.6 | +30.7% |
| Special Purpose Service Awards | 125.5 | 135.4 | -7.3% |
| Total Common Units and Class A Common Stock | 228.2 | 341.3 | -33.1% |
| Total Market and Performance Condition Award RSUs | 45.8 | 32.3 | +41.8% |
| Total TPH and RPH Units | 288.1 | 344.7 | -16.4% |
| TPH Units | 253.8 | 289.6 | -12.4% |
Show Statement Class Of Stock breakouts |
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| Common Class A | 0.4 | 17.2 | -97.7% |
| Performance Earnings Agreement Performance Allocation Expense | 1,427,458 | 930,053 | +53.5% |
| Employee Benefits And Share Based Compensation | 3,135,581 | 2,771,693 | +13.1% |
| General & Administrative | 702,173 | 583,733 | +20.3% |
| Depreciation & Amortization | 144,542 | 135,386 | +6.8% |
| Interest Expense Operating | 112,111 | 87,511 | +28.1% |
| Operating Expenses | 4,094,407 | 3,578,323 | +14.4% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 4,442,523 | 4,379,772 | +1.4% |
| Gain Loss On Investments | -2,847 | -29,326 | +90.3% |
| Interest And Dividend Income Operating | 93,620 | 82,743 | +13.1% |
| Non-Operating Income (Expense) | 90,773 | 53,417 | +69.9% |
| Income Loss Attributable To Parent | 666,578 | -24,824 | +2785.2% |
| Income Tax Expense (Benefit) | 66,993 | 52,091 | +28.6% |
| Net Income | 599,585 | -76,915 | +879.5% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 13,661,572 | 9,259,308 | +47.5% |
| Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable | 50,771 | -175,927 | +128.9% |
| Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable | 364,226 | 75,529 | +382.2% |
| Net Income | 184,588 | 23,483 | +686.0% |
| EPS (Basic) | 0.89 | 0 | — |
| EPS (Diluted) | 0.45 | -0.42 | +207.1% |
| Wtd Avg Shares (Basic) | 138,879,433 | 100,219,905 | +38.6% |
| Wtd Avg Shares (Diluted) | 374,125,608 | 364,725,579 | +2.6% |
| Income Before Taxes | 666,578 | -24,824 | +2785.2% |
| Income Loss From Equity Method Investments | -838 | -1,217 | +31.1% |
| Net Income Loss Attributable To Noncontrolling Interest | 364,226 | 75,529 | +382.2% |
| Net Income Loss Available To Common Stockholders Basic | 123,774 | -307 | +40417.3% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 826,105 | 808,017 | +2.2% |
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| Variable Interest Entity Primary Beneficiary | 5,473 | 21,297 | -74.3% |
| Non-Current Assets | |||
| Goodwill | 498,188 | 436,079 | +14.2% |
| Operating Lease Right-of-Use Assets | 552,254 | 208,501 | +164.9% |
| Deferred Tax Assets | 860,676 | 352,951 | +143.9% |
| Total Assets | 13,492,935 | 10,535,109 | +28.1% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 540,198 | 682,355 | -20.8% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 196,020,558 | 153,574,291 | +27.6% |
| Property, Plant & Equipment | 98,629 | 89,454 | +10.3% |
| Intangible Assets | 658,845 | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Contractual performance fee allocations | 233,148 | 220,282 | +5.8% |
| Investor relationships | 15,625 | 17,708 | -11.8% |
| Management contracts | 376,484 | 248,320 | +51.6% |
| Technology Based Intangible Assets | 21,083 | 32,583 | -35.3% |
| Trade Names | 11,172 | 12,212 | -8.5% |
| Other Assets | |||
| Restricted Cash | 13,166 | 13,175 | -0.1% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 13,166 | 13,175 | -0.1% |
| Other Receivables | 573,590 | 447,012 | +28.3% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Not Primary Beneficiary · Related Party | 408,022 | 340,835 | +19.7% |
| Variable Interest Entity Primary Beneficiary | 435 | 435 | 0.0% |
Show Related Party Transaction breakouts |
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| Other related entities · Affiliated Entity | 93,239 | 47,606 | +95.9% |
| Partners and employees · Affiliated Entity | 3,542 | 2,657 | +33.3% |
| Portfolio companies · Affiliated Entity | 68,787 | 55,914 | +23.0% |
| Unconsolidated VIEs · Affiliated Entity | 408,022 | 340,835 | +19.7% |
Show Related Party Transactions By Related Party breakouts |
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| Affiliated Entity | 573,590 | 447,012 | +28.3% |
| Equity Method Investments And Equity Securities F V N I | 9,211,816 | 7,503,281 | +22.8% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Not Primary Beneficiary · Nonrelated Party | 1,774,815 | 1,257,220 | +41.2% |
| Intangible Assets Net Excluding Goodwill | 659,839 | 533,707 | +23.6% |
Show Indefinite-Lived and Finite-Lived Intangible Assets by Major Class [Axis] breakouts |
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| Other Intangible Assets | 2,327 | 2,602 | -10.6% |
| Other Assets | 297,301 | 232,386 | +27.9% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 230,523 | 211,914 | +8.8% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 191 | 191 | 0.0% |
| Accounts Payable Other Current And Noncurrent | 694,632 | 465,137 | +49.3% |
| Long-Term Debt | 1,722,547 | 1,281,984 | +34.4% |
Show Debt Instrument breakouts |
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| Repurchase Agreements · Northwoods European Management, LLC | 21.9 | 19.3 | +13.5% |
| Repurchase Agreements · Northwoods European Management, LLC | 66.3 | 58.9 | +12.6% |
| Secured Notes · Secured Debt | 246.2 | 245.9 | +0.1% |
| Total Liabilities | 9,356,560 | 6,943,120 | +34.8% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 246,505 | 246,228 | +0.1% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 44,298,175 | 29,826,843 | +48.5% |
| Other Liabilities | |||
| Performance Earnings Agreement Accrued Compensation | 5,399,750 | 4,376,523 | +23.4% |
| Operating Lease Liability | 604,593 | 223,131 | +171.0% |
| Other Liabilities | 704,515 | 384,431 | +83.3% |
Show Related Party Transactions By Related Party breakouts |
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| Nonrelated Party | 704,515 | 384,431 | +83.3% |
| Stockholders' Equity | |||
| Common Stock (Q) | — | — | — |
Show Statement Class Of Stock breakouts |
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| Common Class A | 153 | 109 | +40.4% |
| Common Class B | 224 | 256 | -12.5% |
| Additional Paid-In Capital | 1,476,444 | 970,719 | +52.1% |
| Retained Earnings | -291,604 | -186,983 | -56.0% |
| Minority Interest | 2,951,158 | 2,807,888 | +5.1% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 4,136,375 | 3,591,989 | +15.2% |
Show Equity Components breakouts |
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| Additional Paid In Capital | 1,476,444 | 970,719 | +52.1% |
| Common Stock · Common Class A | 153 | 109 | +40.4% |
| Common Stock · Common Class B | 224 | 256 | -12.5% |
| Noncontrolling Interest | 2,951,158 | 2,807,888 | +5.1% |
| Parent | 1,185,217 | 784,101 | +51.2% |
| Retained Earnings | -291,604 | -186,983 | -56.0% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| TPG Funds And Public SPACs | 151,722,383 | 123,747,448 | +22.6% |
| Total Liabilities & Equity | 13,492,935 | 10,535,109 | +28.1% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Operating Lease Right Of Use Asset Amortization Expense | 56,471 | 36,573 | +54.4% |
| Other Non-Cash Items | 1,351 | 7,283 | -81.4% |
| Payments For Purchase Of Investment Operating Activity | -1,122,810 | -862,821 | -30.1% |
| Proceeds From Disposition Of Investment Operating Activity | 2,291,806 | 1,460,532 | +56.9% |
| Increase Decrease Due From Affiliates | -118,555 | -18,862 | -528.5% |
| Increase Decrease In Other Operating Assets (FY) | — | — | — |
Show Consolidated Entities breakouts |
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| Consolidated Entity Excluding Vie | -66,632 | -25,063 | -165.9% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -4,906 | 52,610 | -109.3% |
| Increase Decrease In Due To Affiliates | 62,271 | 26,635 | +133.8% |
| Increase Decrease In Accrued Performance Allocation Compensation | -803,609 | -647,128 | -24.2% |
| Increase Decrease In Other Operating Liabilities (FY) | — | — | — |
Show Consolidated Entities breakouts |
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| Consolidated Entity Excluding Vie | -5,091 | -108,769 | +95.3% |
| Net Cash from Operations | 1,032,395 | 532,146 | +94.0% |
| Deferred Income Taxes | 29,817 | 5,357 | +456.6% |
| Investing Activities | |||
| Payments To Acquire Businesses Net Of Cash Acquired (FY) | — | — | — |
Show Business Acquisition breakouts |
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| Peppertree | -235,154 | — | — |
| Payments For Proceeds From Productive Assets | -28,802 | -28,131 | -2.4% |
| Net Cash from Investing | -263,956 | -44,465 | -493.6% |
| Financing Activities | |||
| Proceeds From Long Term Lines Of Credit | 1,339,000 | 1,388,500 | -3.6% |
| Repayments Of Related Party Debt | -891,000 | -1,037,500 | +14.1% |
| Debt Issuance Costs | -8,972 | -16,632 | +46.1% |
| Tax Withholding for Share Compensation | -190,563 | -67,671 | -181.6% |
Show Award Type breakouts |
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| Restricted Stock Units RSU | -190.6 | -68 | -180.3% |
| Proceeds From Contributions From Affiliates | 258,461 | 220,934 | +17.0% |
| Payments Of Dividends Minority Interest | -1,229,045 | -832,491 | -47.6% |
| Payment For Contingent Consideration Liability Financing Activities | -18,646 | — | — |
| Payments Of Capital Distribution | -9,595 | — | — |
| Net Cash from Financing | -750,360 | -344,860 | -117.6% |
| Supplemental | |||
| Income Taxes Paid | 30,286 | 42,293 | -28.4% |
| Interest Paid | 92,117 | 65,371 | +40.9% |
| Other Cash Flow | |||
| Net Change in Cash | 18,079 | 142,821 | -87.3% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 839,271 | 821,192 | +2.2% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.