← TPG Inc.
| Annual Trend | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and Cash Equivalents, at Carrying Value | — | $972.7m | $1.1b | $665.2m | $808.0m | $826.1m | |
| Cash and cash equivalents | $858.2m | $972.7m | $1.1b | $665.2m | $808.0m | $826.1m | |
| Prepaid Assets | — | — | $23.8m | $56.4m | $73.4m | $88.0m | |
| Receivables | — | — | $202.6m | $419.0m | $447.0m | $573.6m | |
| Property, Plant and Equipment, Net | — | $26.3m | $24.1m | $81.7m | $89.5m | $98.6m | |
| Goodwill | — | $230.2m | $230.2m | $436.1m | $436.1m | $498.2m | |
| Intangible Assets, Net (Excluding Goodwill) | — | $164.6m | $136.2m | $649.5m | $533.7m | $659.8m | |
| Intangible assets, net | — | — | $136.2m | $649.5m | $533.7m | $659.8m | |
| Goodwill And Other Intangible Assets | — | — | $366.4m | $1.1b | $969.8m | $1.2b | |
| Other Intangible Assets | — | — | $136.2m | $649.5m | $533.7m | $659.8m | |
| Operating Lease, Right-of-Use Asset | — | $157.5m | $130.4m | $227.6m | $208.5m | $552.3m | |
| Right-of-use assets | — | — | — | — | $208.5m | $552.3m | |
| Other assets | — | $657.3m | $629.4m | $462.6m | $793.8m | $297.3m | |
| Additional Financial Items | |||||||
| Partners' Capital | — | $1.6b | — | — | — | — | |
| Restricted cash | $13.1m | $13.1m | $13.2m | $13.2m | $13.2m | $13.2m | |
| Due from affiliates | — | $185.3m | $202.6m | $419.0m | $447.0m | $573.6m | |
| Investments (includes assets pledged of $603,322 and $720,933 as of December 31, 2025 and December 31, 2024, respectively(1)) | — | $6.1b | $5.3b | $6.7b | $7.5b | $9.2b | |
| Deferred tax assets | — | — | — | — | $353.0m | $860.7m | |
| Due to affiliates | — | $827.0m | $139.9m | $143.2m | $465.1m | $694.6m | |
| Debt obligations | — | — | $444.6m | $945.1m | $1.3b | $1.7b | |
| Operating lease liabilities | — | — | — | — | $223.1m | $604.6m | |
| Other liabilities | — | $246.7m | $226.3m | $652.5m | $607.6m | $704.5m | |
| Non-controlling interests | — | $4.7b | $2.6b | $2.8b | $2.8b | $3.0b | |
| Accumulated Depreciation | — | — | ($43.0m) | ($139.9m) | ($153.7m) | ($171.2m) | |
| Available For Sale Securities | — | — | $5.3b | $83.5m | $200.9m | $88.5m | |
| Derivative Product Liabilities | — | $13.0m | $667k | $0 | — | — | |
| Gross PPE | — | — | $197.4m | $449.2m | $451.7m | $822.1m | |
| Invested Capital | — | — | $954.2m | $1.6b | $2.1b | $3.0b | |
| Investmentin Financial Assets | — | — | $5.3b | $83.5m | $200.9m | $88.5m | |
| Investments And Advances | — | — | $5.3b | $6.7b | $7.5b | $9.2b | |
| Long Term Equity Investment | — | — | $5.3b | $6.6b | $7.3b | $9.1b | |
| Net Debt | — | — | — | $363.2m | $552.2m | $984.6m | |
| Net PPE | — | — | $154.4m | $309.3m | $298.0m | $650.9m | |
| Net Tangible Assets | — | — | $143.3m | ($506.4m) | ($185.7m) | $27.2m | |
| Ordinary Shares Number | — | — | $79.2m | $80.6m | $109.2m | $153.1m | |
| Other Payable | — | — | $139.9m | $143.2m | $465.1m | $694.6m | |
| Preferred Securities Outside Stock Equity | — | $1.0b | $653.6m | $0 | — | — | |
| Share Issued | — | — | $79.2m | $80.6m | $109.2m | $153.1m | |
| Tangible Book Value | — | — | $143.3m | ($506.4m) | ($185.7m) | $27.2m | |
| Total equity | $4.7b | $6.3b | $0 | $3.4b | $3.6b | $4.1b | |
| Total Capitalization | — | — | $954.2m | $1.6b | $2.1b | $3.0b | |
| Total Debt | — | — | $592.5m | $1.3b | $1.4b | $1.8b | |
| Total Tax Payable | — | — | — | — | $22.5m | $316.6m | |
| Assets | — | $9.0b | $7.9b | $9.4b | $10.5b | $13.5b | |
| Total assets | — | $9.0b | $7.9b | $9.4b | $10.5b | $13.5b | |
| LIABILITIES AND EQUITY | |||||||
| Accounts payable and accrued expenses | — | $134.4m | $98.2m | $171.8m | $211.9m | $230.5m | |
| Accrued performance allocation compensation | — | $0 | $3.3b | $4.1b | $4.4b | $5.4b | |
| Accounts Payable | — | — | $44.2m | $42.6m | $45.6m | $46.9m | |
| Long-term Debt | — | — | — | $945.1m | $1.3b | $1.7b | |
| Long Term Debt And Capital Lease Obligation | — | — | $592.5m | $1.3b | $1.4b | $1.8b | |
| Deferred Tax Liabilities, Net | — | $303k | $11.6m | $8.9m | $8.2m | $13.3m | |
| Liabilities | — | $1.7b | $4.2b | $6.0b | $6.9b | $9.4b | |
| Total liabilities | — | $1.7b | $4.2b | $6.0b | $6.9b | $9.4b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | — | $1.0b | $653.6m | $0 | $0 | $0 | |
| Stockholders’ equity: | |||||||
| Preferred Stock, Value, Issued | — | — | $0 | $0 | $0 | $0 | |
| Additional Paid in Capital | — | — | $506.6m | $613.5m | $970.7m | $1.5b | |
| Retained Earnings (Accumulated Deficit) | — | — | $2.7m | ($34.7m) | ($187.0m) | ($291.6m) | |
| Common stock, value, issued | — | — | $309k | $362k | $365k | $377k | |
| Preferred stock, $0.001 par value, 25,000,000 shares authorized (0 issued and outstanding as of December 31, 2025 and December 31, 2024) | — | — | 0 | 0 | 0 | 0 | |
| Accumulated deficit | — | — | $2.7m | ($34.7m) | ($187.0m) | ($291.6m) | |
| Capital Stock | — | — | $309k | $362k | $365k | $377k | |
| Preferred Stock | — | — | $0 | $0 | $0 | $0 | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | $2.6b | $2.8b | $2.8b | $3.0b | |
| Partners' Capital, Including Portion Attributable to Noncontrolling Interest | — | $6.3b | — | — | — | — | |
| Minority Interest | — | — | $2.6b | $2.8b | $2.8b | $3.0b | |
| Total Equity Gross Minority Interest | — | — | $3.1b | $3.4b | $3.6b | $4.1b | |
| Liabilities and Equity | — | $9.0b | $7.9b | $9.4b | $10.5b | $13.5b | |
| Total liabilities and equity | — | $9.0b | $7.9b | $9.4b | $10.5b | $13.5b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.