TPG (NASDAQ:TPG) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

TPG (NASDAQ:TPG) released its quarterly earnings data on Thursday. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02, FiscalAI reports. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $624.66 million. TPG had a net margin of 5.32% and a return on equity of 29.24%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS.

Here are the key takeaways from TPG’s conference call:

• Fundraising momentum accelerated: TPG raised nearly $42 billion through the first nine months and increased its 2026 target to more than $55 billion, supported by broad-based demand across private equity, credit, real estate and wealth products.
• Assets under management grew 21% year over year to $346 billion, while record $86 billion of dry powder positions TPG to benefit from market dislocation and higher-for-longer interest rates. Management also reiterated its goal of doubling credit AUM to $200 billion by the end of 2029.
• Third-quarter after-tax distributable earnings were $265 million, or $0.65 per share, and TPG raised full-year FRE margin guidance to approximately 48%, nearly 300 basis points above 2025. Management expects continued long-term margin expansion toward the mid-50% range, although investments in wealth distribution and credit capabilities may make progress uneven.
• Realizations totaled $6.6 billion in the quarter, but performance allocations were limited because proceeds primarily returned cost basis and covered unrealized losses in certain software investments. Management expects realized performance allocations to improve in the fourth quarter and into 2027, though timing remains dependent on market conditions.
• Higher rates, valuation uncertainty and liquidity constraints continue to weigh on private equity and real estate transaction activity, while management highlighted development, financing and concentration risks within AI and data-center infrastructure. TPG is pursuing these opportunities selectively but acknowledged that some investments could face repricing or distress.

TPG Stock Performance

Shares of TPG stock opened at $46.68 on Friday. The stock has a market capitalization of $17.94 billion, a PE ratio of 53.66, a PEG ratio of 0.90 and a beta of 1.49. The business’s 50 day simple moving average is $47.00 and its 200 day simple moving average is $45.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. TPG has a one year low of $36.95 and a one year high of $70.38.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be issued a $0.55 dividend. The ex-dividend date is Monday, November 9th. This is a drop from TPG’s previous quarterly dividend of $0.59. This represents a $2.20 annualized dividend and a yield of 4.7%. TPG’s dividend payout ratio (DPR) is currently 252.87%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TPG shares. Weiss Ratings lowered shares of TPG from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Morgan Stanley lowered their price target on shares of TPG from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of TPG in a report on Thursday, July 9th. Wall Street Zen upgraded TPG from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Evercore set a $52.00 price objective on TPG in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.07.

TPG News Roundup

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Analysts raised targets: TD Cowen, RBC, Wells Fargo and Barclays all increased their price targets, with ratings ranging from “equal weight” to “buy” and “outperform.” The new targets imply approximately 11% to 46% upside, supporting the bullish case for TPG. TD Cowen analyst action
• Positive Sentiment: Quarterly earnings exceeded expectations: TPG reported third-quarter EPS of $0.65 versus the $0.63 consensus estimate. Revenue reached $1.22 billion, up 25.3% year over year and well above the reported $624.7 million estimate, while EPS increased from $0.53 a year earlier. TPG Q3 earnings report
• Positive Sentiment: Fundraising outlook remains strong: TPG reportedly expects to raise a record $55 billion this year, which could expand fee-generating assets and improve long-term earnings visibility. TPG fundraising outlook
• Neutral Sentiment: TPG is reportedly considering a roughly $5 billion acquisition of Ark Data Centres and has launched a $10 billion climate fund. These initiatives could create new growth opportunities but also involve significant capital deployment and execution risk. TPG Ark Data Centres talks
• Negative Sentiment: Dividend was reduced: TPG declared a quarterly dividend of $0.55 per share, down 6.8% from $0.59 previously. The cut may concern income-focused investors despite the approximately 4.6% indicated yield. TPG dividend announcement

About TPG

TPG Inc is a global alternative asset management firm that invests across a range of strategies, including private equity, growth equity, impact investing, real estate, infrastructure, credit and secondaries. The company partners with businesses and management teams to provide capital, strategic guidance and operational support.

TPG manages investment funds for institutional investors and other clients, with a focus on sectors such as technology, healthcare, consumer products and services, financial services, and business services.