TPG
TPG Inc.
Next earnings Aug 4, 2026 (before open) · consensus $0.62 EPS, $592M rev
Last earnings +1.4% on 2026-05-01
$41.43
▲ +6.04%$41.43▼ -18.51%
over 1Y
L $37.43H $67.86
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+6.0%
1W+3.5%
1M-2.3%
3M+9.1%
YTD-35.3%
1Y-18.5%
Hold
Conviction
Horizon
Long (>12mo)
Street · 19 analysts
Buy
Scaling $303B-AUM alt manager with strong fund track records, but GAAP optics and 93x P/E demand fee-related-earnings, not headline EPS.
Assets under management $303.0 billion · Dec 31, 2025
The read
Middling fundamentals and a rich price (~59% above fair value) leave little margin of safety — a wait-and-see.
TPG is a leading global alternative asset manager with $303.0 billion in AUM and a deep, demonstrably strong fund track record — flagship Capital Funds show a 23% gross / 15% net IRR aggregate, with vintages like TPG III at 26% net IRR (2.6x net MoM). Revenue grew 16.1% to $2.42B in FY2025 and has compounded steadily from $978M in FY2021, while operating cash flow nearly doubled (+94.0%) to $1.03B. The franchise is diversified across Capital, Growth, Impact (Rise/Climate), Credit and Healthcare platforms, with fresh 2025-vintage funds (TPG X, Rise Climate II) just beginning to deploy.
The catch is that GAAP earnings are a poor lens for this structure: net income of $185M and EPS of $0.45 (a 93.4x trailing P/E) understate economics because much of the consolidated entity's profit is attributable to non-controlling interests — note equity is reported including NCI and retained earnings sit at -$292M. ROE of 4.5% and net margin of 7.6% on the consolidated basis are therefore not the right yardstick; the real driver is fee-related earnings and carried interest, which aren't broken out in the provided data. Liabilities/equity of 2.26x and long-term debt up 34.4% to $1.72B reflect both fund-related and corporate leverage typical of the model.
Is TPG a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~41.43
- Short call 44 @ ~2.60 est
debit $3,883max +$517max −$3,882BE 38.83
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $978M | $1.25B | $1.53B | $2.09B | $2.42B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $0.00 | $92.4M | $80.1M | $23.5M | $185M |
| Diluted EPS | $0.00 | -$0.19 | -$0.04 | -$0.42 | $0.45 |
| Net margin | 0.0% | 7.4% | 5.2% | 1.1% | 7.6% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.13
Earnings yield1.2%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt$1.72B
Net cash-$896M
Piotroski F-Score4/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+38.6%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-152026-06-22open ↗4Period ending 2026-06-162026-06-18open ↗SCHEDULE 13GFiling2026-06-17open ↗8-KPeriod ending 2026-06-032026-06-05open ↗SCHEDULE 13D/AFiling2026-05-18open ↗SCHEDULE 13G/AFiling2026-05-15open ↗4Period ending 2026-05-122026-05-14open ↗SCHEDULE 13G/AFiling2026-05-14open ↗SCHEDULE 13G/AFiling2026-05-14open ↗SCHEDULE 13G/AFiling2026-05-11open ↗3Period ending 2026-05-012026-05-08open ↗10-QPeriod ending 2026-03-312026-05-01open ↗
Frequently asked
- Is TPG Inc. (TPG) a buy?
- TPG currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Scaling $303B-AUM alt manager with strong fund track records, but GAAP optics and 93x P/E demand fee-related-earnings, not headline EPS.
- What is TPG's fair value?
- A Modified-Graham model based on TPG's SEC fundamentals estimates a fair value of about $16.81. It is an estimate from reported earnings, not a price target.
- Is TPG overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, TPG currently appears overvalued relative to its SEC-grounded earnings power.
- What is TPG Inc.'s quality score?
- TPG scores 60.211700809930235/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001880661, latest 10-Q filed 2026-05-01) · EODHD · Proprietary analysis · as of 6/21/2026, 8:43:27 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:43 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.