TPG (NASDAQ:TPG) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

02 May 2026, 08:46 by Doug Wharley · The Cerbat Gem

TPG (NASDAQ:TPG – Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09, Zacks reports. TPG had a net margin of 3.95% and a return on equity of 26.02%. The company had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year.

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 Trading Up 1.4%

NASDAQ:TPG opened at $44.22 on Friday. The company has a 50-day moving average price of $41.76 and a 200-day moving average price of $53.25. TPG has a 12 month low of $36.95 and a 12 month high of $70.38. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 100.50, a P/E/G ratio of 0.87 and a beta of 1.47.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, May 11th. TPG’s dividend payout ratio (DPR) is currently 554.55%.

Key Headlines Impacting TPG

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays lowered their price target on shares of TPG from $69.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Citizens Jmp raised shares of TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Monday, February 9th. The Goldman Sachs Group reduced their target price on shares of TPG from $80.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Evercore set a $47.00 price target on shares of TPG in a research note on Tuesday, April 21st. Finally, TD Cowen reissued a “hold” rating on shares of TPG in a report on Thursday, April 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.93.

View Our Latest Analysis on TPG

Institutional Investors Weigh In On TPG

Several institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in shares of TPG by 12.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after purchasing an additional 234 shares during the period. Lazard Asset Management LLC lifted its position in shares of TPG by 3.1% in the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after purchasing an additional 238 shares during the period. Strategic Wealth Partners Ltd. lifted its position in shares of TPG by 2.5% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 10,253 shares of the company’s stock worth $589,000 after purchasing an additional 253 shares during the period. Quadrant Capital Group LLC lifted its position in shares of TPG by 31.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,132 shares of the company’s stock worth $72,000 after purchasing an additional 273 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TPG by 38.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 992 shares of the company’s stock worth $57,000 after purchasing an additional 273 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

About TPG

(Get Free Report)

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.