Global alternative asset manager TPG (NASDAQ:TPG) beat Wall Street’s revenue expectations in Q1 CY2026, with sales up 20.7% year on year to $570 million. Its non-GAAP profit of $0.70 per share was 17.1% above analysts’ consensus estimates.
Is now the time to buy TPG? Find out by accessing our full research report, it’s free.
TPG (TPG) Q1 CY2026 Highlights:
- Assets Under Management: $306.2 billion vs analyst estimates of $307.1 billion (22.2% year-on-year growth, in line)
- Revenue: $570 million vs analyst estimates of $541.9 million (20.7% year-on-year growth, 5.2% beat)
- Fee-Related Earnings: $476 million
- Adjusted EPS: $0.70 vs analyst estimates of $0.60 (17.1% beat)
- Market Capitalization: $7.1 billion
Company Overview
Founded in 1992 and managing over 300 active portfolio companies across more than 30 countries, TPG (NASDAQ:TPG) is a global alternative asset management firm that invests across private equity, credit, real estate, and public market strategies.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, TPG grew its revenue at an exceptional 23.6% compounded annual growth rate. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. TPG’s annualized revenue growth of 21.9% over the last two years is below its five-year trend, but we still think the results suggest healthy demand. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, TPG reported robust year-on-year revenue growth of 20.7%, and its $570 million of revenue topped Wall Street estimates by 5.2%.
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
Assets Under Management (AUM)
Assets Under Management (AUM) represents the total value of investments that a financial institution manages for its clients. These assets generate steady income through management fees, creating predictable revenue streams that remain stable so long as clients remain invested with the firm.
TPG’s AUM has grown at an annual rate of 26.8% over the last two years, much better than the broader financials industry and faster than its total revenue.
In Q1, TPG’s AUM was $306.2 billion, meeting analysts’ expectations. This print was 22.2% higher than the same quarter last year.
Key Takeaways from TPG’s Q1 Results
It was good to see TPG beat analysts’ EPS expectations this quarter. We were also glad its revenue outperformed Wall Street’s estimates. On the other hand, its AUM was in line. Zooming out, we think this was a good print with some key areas of upside. The stock remained flat at $44.27 immediately after reporting.
TPG put up rock-solid earnings, but one quarter doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).