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TPG Inc. revenue

TPG Inc.'s revenue was $4.67bn in fiscal 2025, up 33.4% on the year before. Since fiscal 2020 ($2.11bn) it has grown at a compound 17.2% a year. Over the last twelve months it was $5.06bn.

Revenue history

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue2,1154,9762,0032,3903,5004,6705,056
Growth on the year before—+135.3%−59.8%+19.3%+46.5%+33.4%—

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Management Fees $1.8B ▲ 11.5%
Expense Reimbursements and Other $288M ▲ 17.2%
Transaction Fees $231M ▲ 64.6%
Incentive Fees $49.3M ▲ 49.2%
Monitoring Fees $29M ▼ 2.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From TPG Inc.'s 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Asset Management & Custody Banks: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
TPG Inc. $5.06bn 30.1% 31.0%
Ares Management $5.30bn 28.5% 18.9%
Brookfield Asset Management Ltd. $5.74bn 31.9% —
Invesco $6.90bn 12.2% 6.3%
Carlyle Group Inc. $3.61bn -41.9% 4.9%
T. Rowe Price $7.70bn 6.9% 6.7%

Compare with peers

Head to head: ARES vs TPGBAM vs TPGIVZ vs TPGCG vs TPG

More: Asset Management & Custody Banks stocks compared, Financials sector, rankings of US companies

Figures from TPG Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to TPG Inc.