TPG Mortgage Investment Trust Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), TPG Mortgage Investment Trust Inc reported net income of $49.6M.
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Interest income | $480.3M | $408.5M | $260.3M | $180.3M |
| Interest expense | $403.8M | $342.6M | $212.5M | $118.9M |
| Total Net Interest Income | $76.5M | $65.9M | $47.8M | $61.4M |
| Net interest component of interest rate swaps | $3.4M | $7.6M | $6.7M | ($4.9M) |
| Net realized gain/(loss) | ($11.1M) | ($2.9M) | $7.7M | $81.4M |
| Net unrealized gain/(loss) | $20.9M | $17.0M | $1.4M | ($137.6M) |
| Total Other Income/(Loss) | $13.2M | $21.7M | $46.0M | ($61.2M) |
| Management fee to affiliate | $9.3M | $7.5M | $7.7M | $8.1M |
| Non-investment related expenses | $10.8M | $10.7M | $10.1M | $9.3M |
| Investment related expenses | $15.6M | $13.5M | $9.8M | $9.2M |
| Transaction related expenses | $7.3M | $3.2M | $11.1M | $16.5M |
| Total Expenses | $43.0M | $35.0M | $38.7M | $43.1M |
| Income/(loss) before equity in earnings/(loss) from affiliates | $46.7M | $52.6M | $55.2M | ($42.8M) |
| Equity in earnings/(loss) from affiliates | $2.8M | $3.1M | ($1.4M) | ($10.3M) |
| Net Income/(Loss) before Income Taxes | $49.6M | — | — | — |
| Income tax expense | $888.0K | — | — | — |
| Net Income/(Loss) | $48.7M | $55.7M | $53.8M | ($53.1M) |
| Dividends on preferred stock | $21.2M | ($19.4M) | ($18.3M) | ($18.3M) |
| Net Income/(Loss) Available to Common Stockholders | $27.4M | $36.4M | $35.4M | ($71.4M) |
| Basic (in dollars per share) | $0.90 | $1.23 | $1.68 | -$3.12 |
| Diluted (in dollars per share) | $0.90 | $1.23 | $1.68 | -$3.12 |
| Basic (in shares) | 30.5M | 29.5M | 21.1M | 22.9M |
| Diluted (in shares) | 30.6M | 29.5M | 21.1M | 22.9M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Interest income | $124.2M | $129.8M | $124.7M | $110.9M |
| Interest expense | $103.9M | $109.2M | $105.2M | $93.1M |
| Total Net Interest Income | $20.2M | $20.6M | $19.5M | $17.8M |
| Net interest component of interest rate swaps | $296.0K | $402.0K | $1.1M | $821.0K |
| Net realized gain/(loss) | ($1.8M) | ($118.0K) | ($3.6M) | ($3.5M) |
| Net unrealized gain/(loss) | $4.4M | ($16.5M) | $13.2M | ($40.0K) |
| Total Other Income/(Loss) | $2.9M | ($16.2M) | $10.7M | ($2.7M) |
| Management fee to affiliate | $2.3M | $2.3M | $2.3M | $2.3M |
| Non-investment related expenses | $2.3M | $2.7M | $2.6M | $2.5M |
| Investment related expenses | $4.2M | $4.3M | $4.3M | $3.5M |
| Transaction related expenses | $92.0K | $574.0K | $2.0M | $3.0M |
| Total Expenses | $8.9M | $9.8M | $11.2M | $11.3M |
| Income/(loss) before equity in earnings/(loss) from affiliates | $14.2M | ($5.4M) | $19.0M | $3.7M |
| Equity in earnings/(loss) from affiliates | $269.0K | $2.0M | $1.6M | $231.0K |
| Income/(Loss) before Income Taxes | $14.5M | ($3.4M) | $20.6M | — |
| Income tax expense | $188.0K | $182.0K | $689.0K | — |
| Net Income/(Loss) | $14.3M | ($3.6M) | $20.0M | $3.9M |
| Dividends on preferred stock | $5.2M | $5.2M | $5.3M | ($5.3M) |
| Net Income/(Loss) Available to Common Stockholders | $9.1M | ($8.7M) | $14.6M | ($1.4M) |
| Basic (in dollars per share) | $0.29 | -$0.27 | $0.47 | -$0.05 |
| Diluted (in dollars per share) | $0.29 | -$0.27 | $0.47 | -$0.05 |
| Basic (in shares) | 31.8M | 31.7M | 31.0M | 29.7M |
| Diluted (in shares) | 31.8M | 31.7M | 31.1M | 29.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Mortgage loans | $1.3B | $1.2B | $66.3M | $356.5M |
| Commercial loans, at fair value - $55,376 and $67,005 pledged as collateral, respectively | $8.2B | $6.4B | — | — |
| Real estate securities, at fair value - $231,894 and $165,393 pledged as collateral, respectively | $260.3M | $201.4M | $162.8M | $43.7M |
| Investments in debt and equity of affiliates | $61.3M | $46.8M | $55.1M | $71.1M |
| Cash and cash equivalents | $57.8M | $118.7M | $111.5M | $84.6M |
| Restricted cash | $18.5M | $19.9M | $14.0M | $14.2M |
| Other assets - $319 and $0 pledged as collateral, respectively | $58.9M | $41.9M | $40.7M | $27.6M |
| Total Assets | $8.7B | $6.9B | $6.1B | $4.4B |
| Securitized debt, at fair value | $7.2B | $5.5B | $4.7B | $3.3B |
| Financing arrangements | $826.4M | $742.1M | $767.6M | $621.2M |
| Senior unsecured notes | $96.5M | $95.7M | — | — |
| Dividend payable | $7.3M | $5.6M | $1.5M | $3.8M |
| Other liabilities | $42.7M | $34.8M | $32.1M | $19.6M |
| Total Liabilities | $8.2B | $6.4B | $5.6B | $3.9B |
| Preferred stock - $227,991 aggregate liquidation preference | $220.5M | $220.5M | $220.5M | $220.5M |
| Common stock, par value $0.01 per share; 450,000 shares of common stock authorized and 31,744 and 29,640 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $317000.00 | $296000.00 | $294000.00 | $212000.00 |
| Additional paid-in capital | $840.4M | $824.4M | $823.7M | $778.6M |
| Retained earnings/(deficit) | ($500.5M) | ($501.7M) | ($516.1M) | ($536.5M) |
| Total Stockholders' Equity | $560.7M | $543.4M | $528.4M | $462.8M |
| Total Liabilities & Stockholders' Equity | $8.7B | $6.9B | $6.1B | $4.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Mortgage loans | $1.3B | $1.3B | $1.3B | $1.3B |
| Commercial loans, at fair value - $49,254 and $55,376 pledged as collateral, respectively | $7.4B | $7.8B | $8.5B | $7.0B |
| Real estate securities, at fair value - $277,341 and $231,894 pledged as collateral, respectively | $309.3M | $279.4M | $206.9M | $223.3M |
| Investments in debt and equity of affiliates | $55.0M | $61.8M | $61.3M | $45.7M |
| Cash and cash equivalents | $61.6M | $49.3M | $59.0M | $88.7M |
| Restricted cash | $20.5M | $18.4M | $17.8M | $11.4M |
| Other assets - $0 and $319 pledged as collateral, respectively | $58.4M | $60.7M | $58.0M | $52.0M |
| Total Assets | $7.9B | $8.3B | $9.0B | $7.5B |
| Securitized debt, at fair value | $6.4B | $6.7B | $7.4B | $5.9B |
| Financing arrangements | $891.0M | $850.2M | $838.2M | $843.5M |
| Senior unsecured notes | $96.9M | $96.7M | $96.3M | $96.1M |
| Dividend payable | $7.6M | $7.6M | $6.7M | $6.2M |
| Other liabilities | $38.8M | $39.7M | $47.2M | $42.5M |
| Total Liabilities | $7.4B | $7.7B | $8.4B | $6.9B |
| Preferred stock - $227,991 aggregate liquidation preference | $220.5M | $220.5M | $220.5M | $220.5M |
| Common stock, par value $0.01 per share; 450,000 shares of common stock authorized and 31,803 and 31,744 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | $318000.00 | $317000.00 | $317000.00 | $297000.00 |
| Additional paid-in capital | $840.6M | $840.4M | $840.2M | $824.8M |
| Retained earnings/(deficit) | ($515.4M) | ($516.8M) | ($501.2M) | ($509.1M) |
| Total Stockholders' Equity | $546.0M | $544.4M | $559.8M | $536.4M |
| Total Liabilities and Stockholders’ Equity | $7.9B | $8.3B | $9.0B | $7.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net Income/(Loss) | $48.7M | $55.7M | $53.8M | ($53.1M) |
| Net amortization of premium/(discount) | $23.0M | $10.7M | $8.9M | — |
| Net realized (gain)/loss | $11.1M | $2.9M | ($7.7M) | ($81.4M) |
| Net unrealized (gain)/loss | ($20.9M) | ($17.0M) | ($1.4M) | $137.6M |
| Grant of restricted stock and amortization of equity based compensation | $712.0K | $667.0K | $380.0K | $327.0K |
| Equity in (earnings)/loss from affiliates | ($2.8M) | ($3.1M) | $1.4M | — |
| Distributions of income from investments in debt and equity of affiliates | $0 | $1.5M | $814.0K | — |
| Other assets | $4.7M | $10.2M | $2.2M | ($6.8M) |
| Other liabilities | ($4.9M) | ($5.8M) | ($8.0K) | $7.9M |
| Net cash provided by (used in) operating activities | $59.6M | $55.8M | $28.1M | $22.5M |
| Purchases of residential mortgage loans | ($3.0B) | ($1.8B) | ($1.2B) | ($2.6B) |
| Purchases of real estate securities | ($81.2M) | ($654.1M) | ($294.4M) | ($108.6M) |
| Investments in debt and equity of affiliates | ($114.0K) | $0 | ($21.6M) | ($2.1M) |
| Proceeds from sales of residential mortgage loans | $407.2M | $355.2M | $418.4M | $53.3M |
| Proceeds from sales of real estate securities | $6.8M | $607.1M | $286.4M | $526.8M |
| Principal repayments on residential mortgage loans | $1.0B | $711.2M | $348.4M | $464.3M |
| Principal repayments on real estate securities | $31.0M | $22.1M | $13.7M | $21.1M |
| Principal funding on residential mortgage loans | ($17.7M) | ($2.1M) | — | — |
| Distributions received in excess of income from investments in debt and equity of affiliates | $4.2M | $11.0M | $20.9M | $16.6M |
| Net settlement of interest rate swaps and other instruments | ($11.4M) | ($12.4M) | $8.2M | $119.0M |
| Net settlement of TBAs | ($2.7M) | $24.0K | ($65.0K) | $2.8M |
| Cash flows provided by other investing activities | $6.0M | $4.2M | $4.1M | $2.9M |
| Net cash provided by (used in) investing activities | ($1.7B) | ($713.1M) | ($433.5M) | ($1.5B) |
| Net borrowings under (repayments of) financing arrangements | $134.4M | ($12.6M) | ($24.7M) | ($1.2B) |
| Principal repayments on fixed-rate long-term financing arrangements | ($49.3M) | ($11.2M) | — | — |
| Proceeds from issuance of senior unsecured notes | $0 | $95.2M | — | — |
| Repurchases of convertible senior unsecured notes | $0 | ($7.1M) | — | — |
| Principal repayments of convertible senior unsecured notes | $0 | ($79.1M) | — | — |
| Deferred financing costs paid | ($345.0K) | ($251.0K) | ($9.0K) | ($317.0K) |
| Proceeds from issuance of securitized debt | $2.7B | $1.4B | $878.3M | $3.1B |
| Principal repayments on securitized debt | ($1.2B) | ($657.8M) | ($370.3M) | ($380.0M) |
| Dividends paid on common stock | ($24.5M) | ($18.0M) | ($17.4M) | ($19.4M) |
| Dividends paid on preferred stock | ($21.3M) | ($19.2M) | ($18.3M) | ($18.3M) |
| Net cash provided by (used in) financing activities | $1.5B | $670.3M | $432.1M | $1.5B |
| Net change in cash and cash equivalents and restricted cash | ($62.2M) | $13.0M | $26.8M | ($1.4M) |
| Cash and cash equivalents and restricted cash, Beginning of Year | $138.6M | $125.6M | $98.8M | $100.2M |
| Cash and cash equivalents and restricted cash, End of Year | $76.3M | $138.6M | $125.6M | $98.8M |
| Cash paid for interest | $374.4M | $308.3M | $190.2M | $102.5M |
| Cash paid for income taxes | $618.0K | $141.0K | $231.0K | $183.0K |
| Transfer from residential mortgage loans to securitized residential mortgage loans | $2.9B | — | — | — |
| Transfer from securitized residential mortgage loans to residential mortgage loans | $313.9M | — | — | — |
| Common stock dividends declared but not paid | $7.3M | $5.6M | $1.5M | $3.8M |
| Transfer from residential mortgage loans to other assets | $0 | $4.9M | $4.0M | $3.1M |
| Issuance of common stock (Note 10) | $15.3M | $0 | $51.2M | — |
| Investment in debt and equity of affiliates (Note 10) | $15.3M | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income/(loss) | $10.7M | ($3.6M) | $35.4M | $15.4M |
| Net amortization of premium/(discount) | $18.3M | $8.4M | $13.8M | $7.3M |
| Net realized (gain)/loss | $2.0M | $118.0K | $7.1M | $3.5M |
| Net unrealized (gain)/loss | $12.0M | $16.5M | ($14.0M) | ($762.0K) |
| Grant of restricted stock and amortization of equity based compensation | $342.0K | $165.0K | $548.0K | $384.0K |
| Equity in (earnings)/loss from affiliates | ($2.3M) | ($2.0M) | ($3.1M) | ($1.4M) |
| Other assets | $7.3M | $3.8M | $3.2M | $1.2M |
| Other liabilities | ($3.9M) | ($3.1M) | ($2.1M) | ($2.0M) |
| Net cash provided by (used in) operating activities | $44.6M | $20.3M | $40.9M | $23.5M |
| Purchases of residential mortgage loans | ($157.1M) | ($87.0M) | ($2.7B) | ($943.9M) |
| Purchases of real estate securities | ($66.9M) | ($29.0M) | ($26.1M) | ($26.1M) |
| Proceeds from sales of residential mortgage loans | $75.7M | $49.4M | $57.8M | $57.8M |
| Proceeds from sales of real estate securities | $522.0K | $0 | $5.2M | $5.2M |
| Principal repayments on residential mortgage loans | $804.3M | $387.0M | $674.5M | $422.8M |
| Principal repayments on real estate securities | $17.9M | $7.9M | $25.7M | $6.4M |
| Principal repayments on commercial loans | $1.3M | — | — | — |
| Principal funding on residential mortgage loans | ($9.6M) | ($4.1M) | ($12.9M) | ($7.0M) |
| Distributions received in excess of income from investments in debt and equity of affiliates | $8.6M | $1.6M | $4.2M | $2.8M |
| Net settlement of interest rate swaps and other instruments | $5.7M | $1.4M | ($12.6M) | ($6.3M) |
| Net settlement of TBAs | $0 | — | ($1.9M) | $662.0K |
| Cash flows provided by other investing activities | $3.6M | $1.1M | $5.6M | $2.3M |
| Cash flows used in other investing activities | ($2.0M) | ($1.3M) | — | — |
| Net cash provided by (used in) investing activities | $682.1M | $326.9M | ($2.0B) | ($485.2M) |
| Net borrowings under (repayments of) financing arrangements | $64.6M | $23.8M | $146.3M | $108.1M |
| Principal repayments on fixed-rate long-term financing arrangements | $0 | $0 | ($49.3M) | ($6.0M) |
| Deferred financing costs paid | ($58.0K) | ($58.0K) | ($328.0K) | ($34.0K) |
| Proceeds from issuance of securitized debt | $0 | $0 | $2.4B | $727.6M |
| Principal repayments on securitized debt | ($759.9M) | ($367.0M) | ($624.8M) | ($384.2M) |
| Withholding taxes paid on the net settlement of equity based compensation | ($170.0K) | ($170.0K) | — | — |
| Dividends paid on common stock | ($14.9M) | ($7.3M) | ($17.8M) | ($11.6M) |
| Dividends paid on preferred stock | ($10.4M) | ($5.2M) | ($16.0M) | ($10.7M) |
| Net cash provided by (used in) financing activities | ($720.8M) | ($355.8M) | $1.9B | $423.3M |
| Net change in cash and cash equivalents and restricted cash | $5.8M | ($8.6M) | ($61.8M) | ($38.4M) |
| Cash and cash equivalents and restricted cash, Beginning of Period | $76.3M | $76.3M | $138.6M | $138.6M |
| Cash and cash equivalents and restricted cash, End of Period | $82.2M | $67.7M | $76.8M | $100.2M |
| Cash paid for interest | $209.4M | $107.7M | $263.0M | $170.6M |
| Cash paid for taxes | $544.0K | $328.0K | $226.0K | $202.0K |
| Transfer from residential mortgage loans to securitized residential mortgage loans | $0 | $0 | $2.6B | $770.8M |
| Common stock dividends declared but not paid | $7.6M | $7.6M | $6.7M | $6.2M |
| Transfer from residential mortgage loans to other assets | $7.3M | $3.9M | $8.3M | $7.1M |
| Purchase of investments in debt and equity of affiliates | $0 | — | — | $114.0K |
| Purchase price payable on securitized residential mortgage loans | $0 | — | — | $1.4M |
| Payable on unsettled derivatives | $0 | — | — | $3.8M |
TPG Mortgage Investment Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.