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TPG RE Finance TrustTRTX +0.75%50 Cyclically Adjusted PB Ratio is 0.43 as of Jul. 27, 2026, which is 2% above its 10-year median of 0.42. GuruFocus rates TRTX with a GF Score™ of 50/100 and a GF Value™ of $7.58 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 555 REITs companies, TPG RE Finance Trust ranks better than 79.46% on this metric.
The historical rank and industry rank for TPG RE Finance Trust's Cyclically Adjusted PB Ratio or its related term are showing as below:
TRTX'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.38 Med: 0.42 Max: 0.46
Current: 0.42
During the past years, TPG RE Finance Trust's highest Cyclically Adjusted PB Ratio was 0.46. The lowest was 0.38. And the median was 0.42.
TRTX's Cyclically Adjusted PB Ratio is ranked better than 79.46% of 555
companies
in the REITs industry
Industry Median: 0.81
vs TRTX: 0.42
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
TPG RE Finance Trust's adjusted book value per share data for the three months ended in Mar. 2026 was $13.652. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $20.38 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
TPG RE Finance Trust (NYSE:TRTX) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
TPG RE Finance Trust Cyclically Adjusted PB Ratio Related Terms
TPG RE Finance Trust Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for TPG RE Finance Trust's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TPG RE Finance Trust Cyclically Adjusted PB Ratio Chart
TRTX vs BRSP, RWT, FBRT: Cyclically Adjusted PB Ratio Comparison
For the REIT - Mortgage subindustry, TPG RE Finance Trust's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TPG RE Finance Trust Cyclically Adjusted PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, TPG RE Finance Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where TPG RE Finance Trust's Cyclically Adjusted PB Ratio falls into.
TPG RE Finance Trust Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 0.43 mean?
TPG RE Finance Trust (TRTX) has a Cyclically Adjusted PB Ratio of 0.43 as of Jul. 27, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on TPG RE Finance Trust and its competitors. This is near median its historical median of 0.42. Over the past decade, TPG RE Finance Trust's Cyclically Adjusted PB Ratio has ranged from 0.38 to 0.46. According to the industry distribution chart, TPG RE Finance Trust ranks #114 out of 555 companies in the REITs industry, placing it in the top 20.5%.
Is TPG RE Finance Trust's Cyclically Adjusted PB Ratio too high?
TPG RE Finance Trust's current Cyclically Adjusted PB Ratio of 0.43 is near median its 10-year median of 0.42. Over the past 10 years, this metric has ranged from a low of 0.38 to a high of 0.46. The REITs industry median Cyclically Adjusted PB Ratio is 0.81. TPG RE Finance Trust's value of 0.43 is 46.9% below this industry median. Based on the distribution chart, TPG RE Finance Trust ranks #114 out of 555 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, TPG RE Finance Trust has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TPG RE Finance Trust's Cyclically Adjusted PB Ratio compare to BRSP and RWT?
According to the REITs industry distribution chart, TPG RE Finance Trust ranks #114 out of 555 companies for Cyclically Adjusted PB Ratio. This places TPG RE Finance Trust in the top 21% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.81. TPG RE Finance Trust's value of 0.43 is 46.9% below this benchmark. Historically, TPG RE Finance Trust's own Cyclically Adjusted PB Ratio has ranged from 0.38 to 0.46 over the past decade. While the company's 10-year median is 0.42 vs. the industry median of 0.81, TPG RE Finance Trust has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a REITs company?
The median Cyclically Adjusted PB Ratio among REITs companies is 0.81, based on 555 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TPG RE Finance Trust's current Cyclically Adjusted PB Ratio of 0.43 is 46.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on TPG RE Finance Trust and its competitors. For the REITs industry, the median Cyclically Adjusted PB Ratio is 0.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TPG RE Finance Trust's current Cyclically Adjusted PB Ratio is 0.43, which is near median its own 10-year median of 0.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TPG RE Finance Trust stock overvalued right now?
Based on GuruFocus' analysis, TPG RE Finance Trust (TRTX) is currently considered Modestly Overvalued. The stock's GF Value™ is $7.58, compared to a current price of $8.69 — trading 14.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.43, which is near median its 10-year median of 0.42 and 46.9% below the REITs industry median of 0.81. TPG RE Finance Trust's overall GF Score™ is 50/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For TPG RE Finance Trust (TRTX), the current Cyclically Adjusted PB Ratio is 0.43 as of Jul. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TPG RE Finance Trust (TRTX) Overvalued in 2026?
Based on GuruFocus' analysis, TPG RE Finance Trust stock appears to be overvalued.
The current stock price of $8.69 is trading 14.6% above its estimated GF Value™ of $7.58.
GuruFocus considers TPG RE Finance Trust to be Modestly Overvalued.
Key valuation signals for TRTX:
Cyclically Adjusted PB Ratio: 0.43 (near median its 10-year median of 0.42)
GF Value™: $7.58 vs. price of $8.69 (14.6% above fair value)
Industry Position: 46.9% below the REITs median (#114 of 555)
No single metric tells the full story. See the TRTX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TPG RE Finance Trust Inc is a commercial real estate finance company. It originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments consisting of first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets in the United States. The company's objective is to provide attractive risk-adjusted returns to its stockholders over time through cash distributions and capital appreciation. It focuses on directly originating and selectively acquiring floating-rate first mortgage loans that are secured by high-quality commercial real estate properties undergoing some form of transition and value creation.
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