TPG RE Finance TrustTRTX -0.83%51 PB Ratio is 0.62 as of Jul. 03, 2026, which is 3% below its 10-year median of 0.64. GuruFocus rates TRTX with a GF Score™ of 51/100 and a GF Value™ of $7.94 (Fairly Valued). The stock has 4 warning signs investors should review. Among 929 REITs companies, TPG RE Finance Trust ranks better than 76.32% on this metric.
The historical rank and industry rank for TPG RE Finance Trust's PB Ratio or its related term are showing as below:
TRTX'
s PB Ratio Range Over the Past 10 Years
Min: 0.16 Med: 0.64 Max: 1.21
Current: 0.62
During the past 11 years, TPG RE Finance Trust's highest PB Ratio was 1.21. The lowest was 0.16. And the median was 0.64.
TRTX's PB Ratio is ranked better than 76.32% of 929
companies
in the REITs industry
Industry Median: 0.87
vs TRTX: 0.62
During the past 12 months, TPG RE Finance Trust's average Book Value Per Share Growth Rate was -0.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -7.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -5.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -1.20% per year.
During the past 11 years, the highest 3-Year average Book Value Per Share Growth Rate of TPG RE Finance Trust was 17.90% per year. The lowest was -10.20% per year. And the median was -4.55% per year.
Back to Basics: PB Ratio
TPG RE Finance Trust (NYSE:TRTX) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
TPG RE Finance Trust PB Ratio Related Terms
TPG RE Finance Trust PB Ratio Historical Data
* Premium members only.
The historical data trend for TPG RE Finance Trust's 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.
For the REIT - Mortgage subindustry, TPG RE Finance Trust's PB Ratio, along with its competitors' market caps and 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, TPG RE Finance Trust's PB Ratio distribution charts can be found below:
* The bar in red indicates where TPG RE Finance Trust's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
TPG RE Finance Trust (TRTX) has a PB Ratio of 0.62 as of Jul. 03, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TPG RE Finance Trust and its competitors. This is near median its historical median of 0.64. Over the past decade, TPG RE Finance Trust's PB Ratio has ranged from 0.16 to 1.21. According to the industry distribution chart, TPG RE Finance Trust ranks #220 out of 929 companies in the REITs industry, placing it in the top 23.7%.
Is TPG RE Finance Trust's PB Ratio too high?
TPG RE Finance Trust's current PB Ratio of 0.62 is near median its 10-year median of 0.64. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 1.21. The REITs industry median PB Ratio is 0.87. TPG RE Finance Trust's value of 0.62 is 28.7% below this industry median. Based on the distribution chart, TPG RE Finance Trust ranks #220 out of 929 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 51/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does TPG RE Finance Trust's PB Ratio compare to FBRT and RWT?
According to the REITs industry distribution chart, TPG RE Finance Trust ranks #220 out of 929 companies for PB Ratio. This places TPG RE Finance Trust in the top 24% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.87. TPG RE Finance Trust's value of 0.62 is 28.7% below this benchmark. Historically, TPG RE Finance Trust's own PB Ratio has ranged from 0.16 to 1.21 over the past decade. While the company's 10-year median is 0.64 vs. the industry median of 0.87, 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 929 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, 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 PB Ratio of 0.62 is 28.7% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TPG RE Finance Trust and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TPG RE Finance Trust's current PB Ratio is 0.62, which is near median its own 10-year median of 0.64. 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 Fairly Valued. The stock's GF Value™ is $7.94, compared to a current price of $8.40 — trading 5.8% above its estimated fair value. The current PB Ratio is 0.62, which is near median its 10-year median of 0.64 and 28.7% below the REITs industry median of 0.87. TPG RE Finance Trust's overall GF Score™ is 51/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For TPG RE Finance Trust (TRTX), the current PB Ratio is 0.62 as of Jul. 03, 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 $8.40 is trading 5.8% above its estimated GF Value™ of $7.94.
GuruFocus considers TPG RE Finance Trust to be Fairly Valued.
Key valuation signals for TRTX:
PB Ratio: 0.62 (near median its 10-year median of 0.64)
GF Value™: $7.94 vs. price of $8.40 (5.8% above fair value)
Industry Position: 28.7% below the REITs median (#220 of 929)
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.
51GF Score
Get the complete analysis for TRTX
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TRTX has been successfully added to your 
