TPG (NASDAQ:TPG) Announces Earnings Results

TPG (NASDAQ:TPG) posted its quarterly earnings data on Friday. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09, Zacks reports. The company had revenue of $557.18 million for the quarter, compared to analyst estimates of $610.28 million. TPG had a net margin of 3.95% and a return on equity of 26.02%. TPG’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share.

Here are the key takeaways from TPG’s conference call:

• Fee-related earnings grew 36% YoY and TPG’s LTM FRE crossed $1 billion, with after-tax distributable earnings of $282 million ($0.70/share) and a declared dividend of $0.59 per share.
• Total AUM rose 22% to $306 billion, with Q1 capital formation, deployment, and realizations each accelerating materially (capital raised >$10 billion in the quarter; deployments >$14 billion; realizations ~ $9 billion).
• Private credit is a clear growth driver — TPG raised $4.4 billion in credit in Q1, sits on roughly $19 billion of credit dry powder, and reports low non-accruals (~1%) and strong originations at Twin Brook.
• Private equity portfolio value declined ~1% in the quarter due to multiple compression (offset partially by mid-to-high-teens revenue/EBITDA growth); management notes the markdowns reflect public market moves as of March 31 and that recent strategic exits sold at premiums to marks.
• TPG reported a GAAP net loss of $123 million and ended the quarter with net debt of $2.3 billion after a $500 million Jackson-stock investment and subsequent debt issuance, raising interest expense to $26 million and modestly increasing leverage.

TPG Price Performance

TPG traded up $0.60 on Friday, hitting $44.22. 4,904,815 shares of the company were exchanged, compared to its average volume of 2,881,890. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The business’s fifty day moving average is $41.76 and its 200 day moving average is $53.25. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The firm has a market capitalization of $16.99 billion, a P/E ratio of 100.50, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Monday, May 11th. TPG’s payout ratio is 554.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of TPG from $69.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of TPG in a research note on Wednesday, March 4th. Evercore set a $47.00 price target on shares of TPG in a research note on Tuesday, April 21st. Wolfe Research reiterated an “outperform” rating and set a $80.00 price target on shares of TPG in a research note on Wednesday, January 7th. Finally, The Goldman Sachs Group dropped their price target on shares of TPG from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Darlington Partners Capital Management LP acquired a new position in TPG during the second quarter worth about $258,581,000. Bank of America Corp DE grew its position in TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after buying an additional 1,501,808 shares during the period. Morgan Stanley grew its position in TPG by 22.8% during the fourth quarter. Morgan Stanley now owns 2,384,592 shares of the company’s stock worth $152,232,000 after buying an additional 442,095 shares during the period. State Street Corp grew its position in TPG by 4.1% during the fourth quarter. State Street Corp now owns 2,325,301 shares of the company’s stock worth $148,447,000 after buying an additional 92,603 shares during the period. Finally, JPMorgan Chase & Co. grew its position in TPG by 16.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,742,456 shares of the company’s stock worth $111,238,000 after buying an additional 240,613 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG News Roundup

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Raised capital and large dry powder — TPG said it raised more than $10 billion in the quarter, leaving nearly $73 billion of dry powder, improving its ability to deploy into market dislocations and grow fee-related earnings. TPG Looks to Cash In on Market Turbulence
• Positive Sentiment: EPS beat and margin/ROE strength — TPG reported $0.70 EPS vs. $0.61 consensus, up from $0.48 a year ago; net margin and a 26% ROE signal underlying profitability improvement in fee businesses. TPG Inc. (TPG) Q1 Earnings Top Estimates
• Positive Sentiment: Active dealmaking — TPG’s Rise Fund led a $100M investment in Zum, demonstrating continued deployment into growth/sustainable sectors that can drive future fee and carry. TPG (TPG) Leads $100M Investment in Zum
• Neutral Sentiment: Earnings materials and call — Full Q1 slide deck and earnings-call transcript are available for details on segment performance and outlook; useful for assessing recurring fee vs. capital-allocation volatility. TPG Inc. 2026 Q1 – Results – Earnings Call Presentation Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst comparisons — Coverage notes highlight the EPS beat but point to revenue and other metric gaps versus Street estimates; watch guidance and fee-related revenue cadence. TPG Inc. (TPG) Q1 Earnings: How Key Metrics Compare
• Negative Sentiment: Revenue missed estimates — Q1 revenue was $557.2M vs. consensus ~$610M, a notable shortfall that tempers the EPS beat and raises questions about fee and investment-income timing. TPG Press Release / Slide Deck
• Negative Sentiment: Swing to a small net loss — The firm reported a $1.45M loss (vs. $25.4M profit year-ago) driven by losses in capital-allocation income, highlighting earnings volatility tied to mark-to-market and realized investment results. TPG Swings to Loss as Revenue Falls

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.