Apollo Commercial Real Estate Finance vs TPG RE Finance Trust
Apollo Commercial Real Estate Finance is the larger business, with $272m of revenue in fiscal 2025 against $146m for TPG RE Finance Trust (1.9 times as much). TPG RE Finance Trust grew faster (-4.6% against -10.6%). Apollo Commercial Real Estate Finance kept more of each dollar of sales as profit: a net margin of 46.7% against 41.3%.
| Latest fiscal year | Apollo Commercial Real Estate FinanceARI, 2025 | TPG RE Finance TrustTRTX, 2025 |
|---|---|---|
| Revenue | $272m | $146m |
| Revenue growth | -10.6% | -4.6% |
| Net income | $127m | $60.3m |
| Operating margin | — | — |
| Net margin | 46.7% | 41.3% |
| Return on equity | 6.8% | 5.5% |
| Free cash flow | — | $90.4m |
| Cash | $140m | $87.6m |
| Total debt | $0 | $3.31bn |
| Debt to equity | — | — |
| Dividend per share | $1.00 | — |
| Dividend yield | 47.6% | — |
| Share buybacks | $0 | $25.3m |
| Employees | — | — |
| Market value | $315m | $522m |
| Price vs our value range | — | — |
| Moat score | 76 (Strong) | 74 (Strong) |
| Insider trades, 12 months | 0 buys, 4 sales | 0 buys, 0 sales |