TPG
Manages private equity, growth, impact, credit, real estate, and market-solutions strategies.
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Profile
Runs alternative-investment platforms spanning private equity, growth, impact, credit, real estate, and market solutions across North America, Europe, and Asia-Pacific. Revenue comes from management fees, performance-linked income, investments, and portfolio-company activity, while results depend on fundraising, deployment, performance, and realizations.
Manages alternative-investment funds across Capital, Growth, Impact, Credit, Real Estate, and Market Solutions, serving institutional and other third-party investors across North America, Europe, and Asia-Pacific. Management fees, performance-linked income, investment income, and portfolio-company transaction fees drive revenue.
Builds new strategies internally and has added credit, real estate, and digital infrastructure through Angelo Gordon and Peppertree. Its family-office roots, thematic investing, operational engagement, and collaboration across specialized platforms shape how it sources and manages investments.
Results depend on raising and retaining third-party capital, deploying funds, realizing investments, and maintaining performance. The business operates under investment-adviser, securities, recordkeeping, and public-company governance rules, while realized cash from performance allocations can lag accounting recognition.
Company facts
Categories
Key statistics
Year to date −17.9% · Average volume (30d) 2.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Cowen & Co. | Upgrade | Hold | Buy | ||
| Aug 5, 2026 | Deutsche Bank | Reiterate | Buy | $55 | $62 | |
| Aug 5, 2026 | UBS | Reiterate | Buy | $59 | $65 | |
| Aug 5, 2026 | Evercore ISI | Target | $47 | $50 | ||
| Aug 5, 2026 | RBC Capital | Reiterate | Outperform | $59 | $65 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.59 | $0.69 | +16.9% | $596.8M | $628.2M | +5.3% | +5.74% |
| May 1, 2026Q1 FY26 | $0.61 | $0.70 | +14.8% | $608.1M | $637.8M | +4.9% | +1.83% |
| Feb 5, 2026Q4 FY25 | $0.64 | $0.71 | +11.1% | $614.4M | $628.5M | +2.3% | +2.76% |
| Nov 4, 2025Q3 FY25 | $0.56 | $0.53 | −5.7% | $540.0M | $840.0M | +55.6% | −0.24% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $743.3M | $696.0M | $840.0M | $1.49B | $496.2M | $1.84B | |
| Gross profit | $719.3M | $670.7M | $807.7M | $1.45B | $412.6M | $1.81B | |
| Operating income | $94.2M | $39.3M | $228.1M | $296.4M | −$120.3M | $421.6M | |
| Net income | $25.4M | $14.9M | $49.3M | $77.1M | −$1.5M | $93.4M | |
| Diluted EPS | $0.00 | −$0.05 | $0.20 | $0.50 | −$0.22 | $0.39 | |
| Gross margin | 96.8% | 96.4% | 96.2% | 97.2% | 83.2% | 98.0% | |
| Operating margin | 12.7% | 5.7% | 27.2% | 19.9% | -24.3% | 22.9% |
Fiscal years (4-quarter sums)FY21 $5.58B · FY22 $1.50B · FY23 $1.86B · FY24 $2.62B · FY25 $3.77B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $944.7M · Total debt $2.99B · Total assets $14.03B · Shareholders' equity $1.24B
Dividends
Raised for 2 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 28 | $0.59 | |
| May 11, 2026 | May 11 | May 26 | $0.59 | cut from $0.61 |
| Feb 19, 2026 | Feb 19 | Mar 5 | $0.61 | raised from $0.45 |
| Nov 14, 2025 | Nov 14 | Dec 1 | $0.45 | cut from $0.59 |
| Aug 18, 2025 | Aug 18 | Sep 2 | $0.59 | raised from $0.41 |
| May 19, 2025 | May 19 | Jun 2 | $0.41 | cut from $0.53 |
| Feb 21, 2025 | Feb 21 | Mar 7 | $0.53 | raised from $0.38 |
| Nov 14, 2024 | Nov 14 | Dec 2 | $0.38 | cut from $0.42 |
Ownership
Shares outstanding 383.34M · Float 356.32M · 93.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Coulter James G. | 213.26M | 56.40% | 13D | Aug 18, 2026 |
| Wellington Management Group LLP | 11.02M | 2.87% | 13F | Aug 14, 2026 |
| Temasek Holdings (Private) Ltd | 10.16M | 2.65% | 13F | Aug 7, 2026 |
| Darlington Partners Capital Management, LP | 9.00M | 2.35% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 7.98M | 2.08% | 13F | Aug 7, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Blackstone
Global alternatives manager across private equity, credit and real estate
- KKR
Global alternatives manager spanning private equity, credit and real assets
- Apollo Global Management
Global alternatives manager spanning private equity, credit and real assets
- Ares Management
Alternative-assets peer across credit, real assets, PE and secondaries
- Brookfield Asset Management
Global alternatives manager spanning all six TPG platform themes
- The Carlyle Group
Global alternatives manager spanning private equity, credit and solutions
- Blue Owl Capital
Private-markets peer centered on credit, real assets and GP capital
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| Blackstone | $142.86 | +0.35% | $171.97B | 31.6 | 22.2 | 10.7 | +2.4% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| Brookfield Asset Management | $51.52 | −1.14% | $83.22B | 30.3 | 25.6 | 15.4 | +58.7% |
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| Blue Owl Capital | $12.04 | +0.12% | $18.79B | 101.2 | 13.0 | 6.3 | +7.1% |
| Median | 34.2 | 16.3 | 6.3 | +5.8% |