| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 66 | 28.9x | 17.4x | Top tier | |
Growth | 82 | 30.1% | 7.1% | Top tier | |
Quality | 43 | — | — | Around median | |
Safety | 33 | — | — | Bottom tier | |
Capital Return | 69 | 16.67% | 0.18% | Top tier | |
Momentum | 18 | -16.3% | 1.3% | Bottom tier | |
Sentiment | — | — | 3 | N/A |
10-year US Treasury yield 5.31% as of 2026-10-05. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
TPG Inc. operates as an alternative asset manager across private equity, credit, real estate, market solutions, and private wealth products. The company generates revenue primarily from management, transaction, and monitoring fees, along with its share of realized profits and incentives linked to investment performance. Total assets under management reached $327 billion in Q2 FY2026 for the period ended 2026-06-30, distributed across platforms including TPG Capital, Twin Brook, TPG Real Estate, and the T-POP and TCAP products.
In Q2 FY2026, fee-related revenue reached $628 million, up 27% year over year, and net income attributable to TPG Inc. was approximately $93 million. Fee-related earnings reached $315 million, up 43% year over year, with a margin of 50%. Private equity raised $8 billion, credit raised $5.6 billion, while the real estate platform invested $2.3 billion, demonstrating the diversification of activity between raising and deploying capital across multiple asset classes.
In FY2025, TPG reported revenue of $4.7 billion, a gross margin of 96.8%, and net income of $184.6 million, compared with revenue of $3.5 billion, a gross margin of 72.5%, and net income of $23.5 million in FY2024. This comparison reflects clear expansion in revenue and profitability, but the overall EL7 score for the period ended 2026-06-30 remained at 43 out of 100, ranking 278 out of 399 within the asset management industry.
Automated analysis for informational purposes only — not investment advice.
When: FY2026
Fundraising exceeds $50 billion
Annual revenue exceeds $4.7 billion
Annual net income exceeds $184.6 million
Gross margin reaches 96.8%
The industry-multiple value is $10, within a range of $6.84 to $18, pricing TPG like its peers using last-12-month earnings and a median multiple of 14.5 for a sample of 95 companies. The width of the range reflects differences in multiples within the industry, while the $10 value represents the method's central estimate rather than an average across multiple valuation methods. The models used the 10-year U.S. Treasury yield of 5.18% as of 2026-09-24, but there is no other numerical company value that can be compared with the industry-multiple method. Across a sample of 805 major U.S. companies, analyst targets tend to be optimistic because they price expected growth, while the cash-flow model tends to be conservative because it prices the cash the company generates.
Figures in the text are as of 2026-09-27; the live price is shown at the top of the page.
TPG generates its revenue by managing alternative assets across private equity, credit, real estate, market solutions, and private wealth. Sources of income include management, transaction, and monitoring fees, in addition to realized profits and incentives linked to investment performance. In Q2 FY2026 for the period ended 2026-06-30, fee-related revenue reached $628 million, and fee-related earnings reached $315 million at a margin of 50%.
TPG is targeting more than $50 billion of fundraising during FY2026. The company had raised more than $26 billion during the first half, including $16 billion in Q2 FY2026. This target is supported by $8 billion raised in private equity and $5.6 billion in credit during the same quarter, alongside a multi-year real estate fundraising cycle.
TPG holds direct investments in OpenAI and Anthropic and uses these investments to understand technology and adoption trends. Together with its partners, it also committed more than $4 billion of initial capital to establish DeployCo with OpenAI to deploy artificial intelligence within large enterprises. DeployCo began working with Conservice to automate invoice intake, resolve exceptions, and improve quality control through machine learning, while the acquisition thesis for Smith + Howard included lead generation and AI-powered workflow automation.
TPG raised approximately $5.6 billion for its credit business and invested $4.4 billion during Q2 FY2026. Jackson Financial provided $2.5 billion of new multi-year commitments in that quarter, increasing partnership commitments since February 2026 to $4.5 billion. Twin Brook originated $2.3 billion of total credit facilities, with add-on financings for existing clients contributing more than 40% of the quarter's volume.
Inflows into T-POP reached approximately $450 million in Q2 FY2026, increasing its assets under management to $2.9 billion by the end of June 2026. The product generated an annualized return since inception of 34%, and TPG added an international private banking platform in Q2 and another in Q3 FY2026. TCAP recorded gross inflows of $193 million, redemption requests equal to 2.1% of outstanding shares, and a one-year net return of 9.9%.
Axel Andre joined TPG as its new Chief Financial Officer in July 2026 and participated in the Q2 FY2026 earnings call held on 2026-08-04. Jack Weingart presented the financial results during the call due to the timing of Axel Andre's arrival. The company stated that Jack Weingart is working with him to ensure a smooth transition, without announcing any other changes to executive positions in the available information.
