TPG Inc. (TPG) Key Metrics
TPG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $16.61B
- Enterprise value
- $11.72B
- P/E (TTM)
- 63.5 10-yr median 151.6
- Forward P/E
- 12.7
- PEG ratio
- —
- Price / sales
- 3.6 10-yr median 6.6
- Price / book
- 6.2 10-yr median 22.1
- EV / EBITDA
- — 10-yr median 161.7
- Dividend yield
- 2.16% $2.24 a year
- Beta
- 1.47
TPG key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTPG valuation Price multiples at each fiscal year-end price.
TPG returns How much profit the business earns on the capital it uses.
TPG per-share figures Results divided by the shares outstanding at year-end.
TPG financial health Debt, liquidity and how easily interest is covered.
TPG efficiency & capital use Working capital cycle and where the cash goes.
TPG valuation history
TPG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TPG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TPG cash returned to shareholders
TPG price vs earnings per share
TPG key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $24.32B | $22.92B | $13.73B | $8.60B | — | — | — | — |
| Enterprise value | $25.22B | $23.69B | $14.32B | $7.95B | — | — | — | — |
| P/E ratio | 131.8 | 976.0 | 171.4 | 93.0 | — | — | — | — |
| Price / sales | 5.2 | 8.7 | 7.4 | 5.7 | — | — | — | — |
| Price / book | 20.5 | 29.2 | 23.7 | 2.8 | — | — | — | — |
| Price / free cash flow | 24.2 | 45.5 | 19.5 | 6.3 | — | — | — | — |
| Price / operating cash flow | 23.6 | 43.1 | 19.0 | 6.2 | — | — | — | — |
| EV / sales | 5.4 | 9.0 | 7.7 | 5.3 | — | — | — | — |
| EV / EBITDA | 30.3 | 214.3 | 109.1 | 860.4 | — | — | — | — |
| EV / free cash flow | 25.1 | 47.0 | 20.4 | 5.8 | — | — | — | — |
| Earnings yield | 0.8% | 0.1% | 0.6% | 1.1% | — | — | — | — |
| Free cash flow yield | 4.1% | 2.2% | 5.1% | 16.0% | — | — | — | — |
| Dividend yield | 5.1% | 3.6% | 4.7% | 11.8% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 5.8% | 3.9% | 9.5% | 11.8% | — | — | — | — |
| Share price at fiscal year-end | $63.84 | $62.84 | $43.17 | $27.83 | — | — | — | — |
| Per share | ||||||||
| Revenue per share | $12.25 | $7.19 | $5.84 | $4.87 | $78.82 | $32.83 | $31.21 | $22.95 |
| Earnings per share | $0.48 | $0.06 | $0.25 | $0.30 | $30.80 | $13.44 | $6.96 | $3.83 |
| Operating cash flow per share | $2.71 | $1.46 | $2.27 | $4.45 | $20.83 | $1.38 | $12.00 | $12.67 |
| Free cash flow per share | $2.63 | $1.38 | $2.21 | $4.45 | $20.80 | −$0.29 | $11.88 | $12.61 |
| Cash per share | $2.17 | $2.22 | $2.09 | $3.60 | $13.81 | $12.49 | $9.49 | — |
| Book value per share | $3.11 | $2.15 | $1.82 | $9.99 | $22.69 | $35.65 | $29.23 | — |
| Tangible book value per share | −$1.24 | −$0.51 | −$1.59 | $8.06 | $17.11 | $35.25 | $28.83 | — |
| Dividends per share | $3.23 | $2.28 | $2.02 | $3.30 | $15.06 | $4.33 | $3.60 | $3.11 |
| Capex per share | $0.08 | $0.08 | $0.05 | $0.01 | $0.03 | $1.67 | $0.12 | $0.07 |
| Debt per share | $4.52 | $4.34 | $3.98 | $1.50 | $8.78 | $7.11 | $6.70 | — |
| Shares outstanding | 381.0M | 364.7M | 317.9M | 308.9M | 70.8M | 69.0M | 69.0M | 69.0M |
| Change in shares outstanding | +4.5% | +14.7% | +2.9% | +336.2% | +2.6% | 0.0% | 0.0% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 18.7% | 3.4% | 4.4% | 3.9% | 107.2% | 41.4% | 23.8% | — |
| Return on invested capital (ROIC) | 33.8% | −1.4% | 2.3% | −1.0% | 278.8% | 73.5% | 64.7% | — |
| Return on assets (ROA) | 1.5% | 0.2% | 0.9% | 1.1% | 27.3% | 14.8% | 8.7% | — |
| Return on tangible assets | 1.6% | 0.2% | 1.0% | 1.3% | 25.5% | 13.3% | 8.8% | — |
| Free cash flow margin | 21.5% | 19.2% | 37.9% | 91.3% | 26.4% | −0.9% | 38.1% | 54.9% |
| Income quality (OCF / net income) | 5.59 | 22.66 | 9.00 | 14.89 | 0.68 | 0.10 | 1.72 | 3.31 |
| Financial health | ||||||||
| Total debt | $1.72B | $1.58B | $1.26B | $464.3M | $621.4M | $490.6M | $462.3M | — |
| Cash & short-term investments | $826.1M | $808.0M | $665.2M | $1.11B | $978.1M | $861.9M | $655.4M | — |
| Net debt | $896.4M | $775.3M | $598.7M | −$648.3M | −$356.7M | −$371.3M | −$193.1M | — |
| Debt / equity | 1.45 | 2.02 | 2.18 | 0.15 | 0.39 | 0.20 | 0.23 | — |
| Debt / assets | 0.13 | 0.15 | 0.13 | 0.06 | 0.07 | 0.07 | 0.08 | — |
| Net debt / EBITDA | 1.08 | 7.01 | 4.56 | −70.18 | −0.08 | −0.26 | −0.16 | — |
| Current ratio | 0.15 | 29.13 | 26.80 | 11.28 | 8.84 | 15.38 | 16.26 | — |
| Quick ratio | 0.15 | 29.13 | 27.11 | −0.13 | 0.08 | 34.07 | 0.49 | — |
| Interest coverage | 6.1 | -0.3 | 2.2 | -1.1 | 273.9 | 73.5 | 66.6 | 63.0 |
| Working capital | −$4.57B | $1.28B | $1.10B | $1.01B | $1.05B | $1.03B | $1.09B | — |
| Invested capital | $2.08B | $1.56B | $1.18B | $2.44B | $1.25B | $2.09B | $1.82B | — |
| Tangible asset value | $2.48B | $2.62B | $2.28B | $2.49B | $6.87B | $5.49B | $4.23B | — |
| Net current asset value | −$8.53B | −$5.61B | −$4.87B | −$3.75B | −$513.2M | −$373.2M | −$90.1M | — |
| Graham number | $5.82 | $1.76 | $3.21 | $8.20 | $125.39 | $103.81 | $67.66 | — |
| Graham net-net per share | −$22.39 | −$15.90 | −$15.84 | −$9.81 | $0.07 | −$16.30 | $4.78 | — |
| Capital allocation | ||||||||
| Dividends paid | $1.23B | $832.5M | $643.2M | $1.02B | $1.07B | $298.6M | $248.3M | $214.9M |
| Share buybacks (net) | $190.6M | $67.7M | $661.0M | $0 | $0 | $0 | $269.7M | — |
| Dividend payout ratio | 665.8% | — | 803.1% | — | 48.9% | 32.2% | 51.7% | 81.3% |
| Dividends + buybacks / free cash flow | 141.5% | 178.6% | 185.3% | 74.1% | 72.4% | — | 63.2% | 24.7% |
| Capex / revenue | 0.6% | 1.1% | 0.9% | 0.2% | 0.0% | 5.1% | 0.4% | 0.3% |
| Capex / operating cash flow | 2.8% | 5.3% | 2.3% | 0.2% | 0.1% | 121.1% | 1.0% | 0.5% |
| Capex / depreciation | 0.20 | 0.21 | 0.35 | 0.07 | 0.08 | 14.97 | 0.88 | 0.41 |
| Stock-based compensation / revenue | 17.4% | 38.4% | 35.3% | 41.7% | — | — | — | — |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 15.0% | 22.3% | 26.1% | 25.0% | 5.3% | 11.8% | 16.6% | 22.8% |
| Efficiency | ||||||||
| Days sales outstanding | — | 60.2 | 61.1 | 47.1 | 13.3 | 56.8 | 82.2 | — |
| Days of inventory on hand | — | — | 5,245.9 | 19,399.1 | -1,799.1 | -2,000.7 | 23,142.2 | — |
| Days payables outstanding | 116.8 | 183.9 | 666.6 | 1,963.5 | 2,210.7 | 1,328.3 | 1,467.3 | — |
| Cash conversion cycle (days) | — | -123.6 | 4,640.4 | 17,482.7 | -3,996.5 | -3,272.3 | 21,757.1 | — |
| Receivables turnover | — | 6.06 | 5.97 | 7.76 | 27.54 | 6.43 | 4.44 | — |
| Payables turnover | 3.12 | 1.99 | 0.55 | 0.19 | 0.17 | 0.27 | 0.25 | — |
| Inventory turnover | — | — | — | 0.02 | — | — | 0.02 | — |
| Asset turnover | 0.39 | 0.26 | 0.21 | 0.18 | 0.70 | 0.36 | 0.39 | — |
| Average receivables | — | $433.0M | $310.8M | $194.0M | $202.7M | $352.6M | $485.1M | — |
| Average payables | $46.3M | $44.1M | $70.4M | $116.3M | $103.2M | $71.7M | $71.5M | — |
| Average inventory | — | — | $553.7M | $1.15B | −$83.9M | −$108.1M | $1.13B | — |
| Intangibles / total assets | 12.3% | 9.2% | 11.6% | 7.5% | 4.4% | 0.4% | 0.5% | — |
Computed from TPG's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TPG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), TPG traded at 131.8 times earnings, against a 8-year median of 151.6. Based on the latest twelve months, the trailing P/E is 63.5 and the forward P/E is 12.7. TPG earned a return on equity of 18.7% and a return on invested capital of 33.8% in fiscal 2025. It ended the year with $1.7 billion of debt and $826.1 million in cash and short-term investments, net debt of $896.4 million. It returned $1.4 billion to shareholders: $1.2 billion in dividends and $190.6 million in share buybacks, 141% of free cash flow. The share count rose 451.9% from 69.0M to 381.0M over 7 years.
See the TPG income statement, the TPG chart for price history, or the TPG stock overview for the latest quote and news.
TPG key metrics FAQ
What is TPG's P/E ratio?
TPG's trailing P/E ratio is 63.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.7. At the end of fiscal 2025 it was 131.8, compared with a 8-year median of 151.6.
What is TPG's EV/EBITDA?
TPG's enterprise value was 30.3 times EBITDA at the end of fiscal 2025 (enterprise value $25.2 billion, EBITDA $832.5 million).
What is TPG's return on equity?
TPG's return on equity (ROE) was 18.7% in fiscal 2025: net income of $184.6 million on average shareholders' equity of $984.7 million.
What is TPG's ROIC?
TPG's return on invested capital was 33.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TPG have?
TPG had total debt of $1.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.45 and $896.4 million of net debt (1.08 times EBITDA).
What is TPG's dividend yield?
TPG's forward dividend yield is 2.16%. TPG paid $1.2 billion in dividends in fiscal 2025 ($3.23 per share), a payout ratio of 665.8%.
Does TPG buy back its shares?
Yes. TPG spent $190.6 million on net share repurchases in fiscal 2025 Shares outstanding changed +4.5% over the year, to 381.0M..
What is TPG's free cash flow yield?
TPG generated $1.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 4.1% on its market value at year-end ($24.3 billion).
What is TPG's current ratio?
TPG's current ratio was 0.15 at the end of fiscal 2025: current assets were 0.15 times current liabilities.