TPG Financial Services

TPG Inc.

$48.39+0.44%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Financial Services
Industry: Asset Management
Country: United States
Market cap: 18.9B USD
Enterprise value: 17.8B USD
Full-time employees: 1,900

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.45 vs a peer median of 0.70)bigger price swings (beta 1.45 vs peers 0.70)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #89 of 232 financial services companies (top 39%)

See how it ranks against its peers

Worth knowing

Profit growing, cash flow isn't. Profit +100% since 2022, operating cash flow −25%.
TPG's reported profit rose 100% since 2022, but the cash its operations generate changed −25%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).TPG's reported profit rose 100% since 2022, but the cash its operations generate changed −25%. When profit and cash diverge like this, it's worth understanding why.
Cash flow well above reported profit. Free cash flow is 3.8× reported profit.
Free cash flow is 3.8× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
More volatile share price. Beta 1.45: tends to move more than the market.
TPG's shares have swung more with the market than most peers' (beta 1.45, above the market's 1.0).

StockQuotient Score

56/ 100

Oct 5 56 → Nov 4 56

Valuation

Is the price right?

16/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.3%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -1.20Sector median: 0.0571 · MAD: 0.0371

EBITDA yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0689 · MAD: 0.0428

Free cash flow yield4.9%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score -0.21Sector median: 0.0613 · MAD: 0.0605

Other data (not scored)

Book yield20.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.8352 · MAD: 0.4517

Growth

Is it growing?

94/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 18.8%

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth264.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 8.06Sector median: 0.0999 · MAD: 0.2773

3-year revenue growth31.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.45Sector median: 0.0999 · MAD: 0.0858

Revenue growth30.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.53Sector median: 0.0742 · MAD: 0.1477

Profitability

Does it earn well?

76/100

Moderate

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.2353 · MAD: 0.1462

Return on assets1.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.37Sector median: 0.0256 · MAD: 0.0233

Return on invested capital22.3%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 3.09Sector median: 0.0630 · MAD: 0.0518

Other data (not scored)

Gross margin100.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122

Return on equity6.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 40 → 38

Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.45

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.40Sector median: 0.7010 · MAD: 0.3115

Current ratio3.64×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score 1.30Sector median: 2.0250 · MAD: 1.2470

Debt / equity0.63×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.10Sector median: 0.5734 · MAD: 0.5454

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about TPG

Is TPG getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 56/100 since Oct 28, 2026.
How is TPG valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 16/100 against 432 financial services peers. Earnings yield 1.3% vs a peer median of 5.7% (weaker than 84% of peers).Earnings yield 1.3% vs peers 5.7% (weaker than 84% of peers).
Is TPG growing?: Yes, faster than most of its peers. Growth scores 94/100 against 432 financial services peers. Earnings per share growth 264.2% vs a peer median of 10.0% (stronger than 96% of peers).Earnings per share growth 264.2% vs peers 10.0% (stronger than 96% of peers).
How profitable is TPG?: More profitable than most of its peers. Profitability scores 76/100 against 432 financial services peers. Return on invested capital 22.3% vs a peer median of 6.3% (stronger than 82% of peers).Return on invested capital 22.3% vs peers 6.3% (stronger than 82% of peers). Return on assets 1.7% vs a peer median of 2.6% (weaker than 65% of peers).Return on assets 1.7% vs peers 2.6% (weaker than 65% of peers).
How risky is TPG?: Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Current ratio 3.64× vs a peer median of 2.02× (stronger than 66% of peers).Current ratio 3.64× vs peers 2.02× (stronger than 66% of peers). Beta 1.45 vs a peer median of 0.70 (weaker than 92% of peers).Beta 1.45 vs peers 0.70 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.3B USD	5.1B USD	+18.8%
Net income (12 months)	157.7M USD	236.2M USD	+49.8%
Debt	2.3B USD	2.3B USD	+0.0%
Cash	851.4M USD	944.7M USD	+11.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Asset Management · 43 companies

Valuations in Asset Management are near the top of their range since 2016.

95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	—	—	2.7%	0.3%	14.7%	▲ 14 pts
Net margin	0.0%	4.6%	3.4%	0.7%	4.0%	▲ 3.3 pts
Return on assets (ROA)	0.0%	1.2%	0.9%	0.2%	1.4%	▲ 1.1 pts
Return on equity (ROE)	—	3.0%	2.4%	0.7%	4.5%	▲ 3.8 pts
Debt to equity	—	0.14×	0.28×	0.36×	0.42×	▲ 17%
Interest coverage	—	—	2.03×	0.12×	6.72×	▲ >999%

TPG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.45 vs a peer median of 0.70)bigger price swings (beta 1.45 vs peers 0.70)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #89 of 232 financial services companies (top 39%)

See how it ranks against its peers

Worth knowing

Profit growing, cash flow isn't. Profit +100% since 2022, operating cash flow −25%.

TPG's reported profit rose 100% since 2022, but the cash its operations generate changed −25%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).TPG's reported profit rose 100% since 2022, but the cash its operations generate changed −25%. When profit and cash diverge like this, it's worth understanding why.

Cash flow well above reported profit. Free cash flow is 3.8× reported profit.

Free cash flow is 3.8× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

More volatile share price. Beta 1.45: tends to move more than the market.

TPG's shares have swung more with the market than most peers' (beta 1.45, above the market's 1.0).

Questions investors ask about TPG

Is TPG getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is unchanged at 56/100 since Oct 28, 2026.

How is TPG valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 16/100 against 432 financial services peers. Earnings yield 1.3% vs a peer median of 5.7% (weaker than 84% of peers).Earnings yield 1.3% vs peers 5.7% (weaker than 84% of peers).

Is TPG growing?

Yes, faster than most of its peers. Growth scores 94/100 against 432 financial services peers. Earnings per share growth 264.2% vs a peer median of 10.0% (stronger than 96% of peers).Earnings per share growth 264.2% vs peers 10.0% (stronger than 96% of peers).

How profitable is TPG?

More profitable than most of its peers. Profitability scores 76/100 against 432 financial services peers. Return on invested capital 22.3% vs a peer median of 6.3% (stronger than 82% of peers).Return on invested capital 22.3% vs peers 6.3% (stronger than 82% of peers). Return on assets 1.7% vs a peer median of 2.6% (weaker than 65% of peers).Return on assets 1.7% vs peers 2.6% (weaker than 65% of peers).

How risky is TPG?

Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Current ratio 3.64× vs a peer median of 2.02× (stronger than 66% of peers).Current ratio 3.64× vs peers 2.02× (stronger than 66% of peers). Beta 1.45 vs a peer median of 0.70 (weaker than 92% of peers).Beta 1.45 vs peers 0.70 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.3B USD

5.1B USD

+18.8%

Net income (12 months)

157.7M USD

236.2M USD

+49.8%

Debt

2.3B USD

2.3B USD

+0.0%

Cash

851.4M USD

944.7M USD

+11.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

—

2.7%

0.3%

14.7%

▲ 14 pts

Net margin

0.0%

4.6%

3.4%

0.7%

4.0%

▲ 3.3 pts

Return on assets (ROA)

0.0%

1.2%

0.9%

0.2%

1.4%

▲ 1.1 pts

Return on equity (ROE)

—

3.0%

2.4%

0.7%

4.5%

▲ 3.8 pts

Debt to equity

—

0.14×

0.28×

0.36×

0.42×

▲ 17%

Interest coverage

—

2.03×

0.12×

6.72×

▲ >999%