TRTX vs. CAT

Last updated Apr 1, 2026

Compare and contrast key facts about TPG RE Finance Trust, Inc. (TRTX) and Caterpillar Inc. (CAT).

Performance

TRTX vs. CAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TPG RE Finance Trust, Inc. (TRTX) and Caterpillar Inc. (CAT). The values are adjusted to include any dividend payments, if applicable.

TRTX vs. CAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRTX TPG RE Finance Trust, Inc.	-6.51%	13.50%	46.93%	9.71%	-38.40%	25.11%	-31.46%	20.90%	4.67%	0.91%
CAT Caterpillar Inc.	23.96%	60.30%	24.66%	25.95%	18.60%	15.95%	26.97%	19.51%	-17.56%	47.71%

Fundamentals

Market Cap TRTX : $611.67M CAT : $332.27B
EPS TRTX : $0.76 CAT : $18.86
PE Ratio TRTX : 10.31 CAT : 37.56
PS Ratio TRTX : 2.33 CAT : 4.93
PB Ratio TRTX : 0.57 CAT : 15.59
Total Revenue (TTM) TRTX : $265.03M CAT : $67.59B
Gross Profit (TTM) TRTX : $230.77M CAT : $21.86B
EBITDA (TTM) TRTX : $255.84M CAT : $14.51B

Returns By Period

In the year-to-date period, TRTX achieves a -6.51% return, which is significantly lower than CAT's 23.96% return.

TRTX

• 1D: 1.30%
• 1M: -4.85%
• YTD: -6.51%
• 6M: -3.42%
• 1Y: 7.50%
• 3Y*: 15.63%
• 5Y*: 3.81%
• 10Y*: —

CAT

• 1D: 6.15%
• 1M: -4.63%
• YTD: 23.96%
• 6M: 49.25%
• 1Y: 117.77%
• 3Y*: 48.13%
• 5Y*: 27.26%
• 10Y*: 27.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TRTX vs. CAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TRTX

TRTX Risk / Return Rank: 51
TRTX Sharpe Ratio Rank: 53
TRTX Sortino Ratio Rank: 45
TRTX Omega Ratio Rank: 44
TRTX Calmar Ratio Rank: 55
TRTX Martin Ratio Rank: 56

CAT

CAT Risk / Return Rank: 97
CAT Sharpe Ratio Rank: 98
CAT Sortino Ratio Rank: 97
CAT Omega Ratio Rank: 96
CAT Calmar Ratio Rank: 96
CAT Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TRTX vs. CAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TPG RE Finance Trust, Inc. (TRTX) and Caterpillar Inc. (CAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TRTX	CAT	Difference
Sharpe ratio Return per unit of total volatility	0.31	3.42	-3.11
Sortino ratio Return per unit of downside risk	0.59	4.04	-3.45
Omega ratio Gain probability vs. loss probability	1.07	1.54	-0.47
Calmar ratio Return relative to maximum drawdown	0.56	6.50	-5.94
Martin ratio Return relative to average drawdown	1.37	22.99	-21.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRTX vs. CAT - Sharpe Ratio Comparison

The current TRTX Sharpe Ratio is 0.31, which is lower than the CAT Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of TRTX and CAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TRTX	CAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	3.42	-3.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.92	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.34	-0.31

Correlation

The correlation between TRTX and CAT is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TRTX vs. CAT - Dividend Comparison

TRTX's dividend yield for the trailing twelve months is around 12.29%, more than CAT's 0.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRTX TPG RE Finance Trust, Inc.	12.29%	11.15%	11.29%	14.77%	14.14%	7.71%	15.44%	8.49%	9.35%	3.73%	0.00%	0.00%
CAT Caterpillar Inc.	0.84%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%

Drawdowns

TRTX vs. CAT - Drawdown Comparison

The maximum TRTX drawdown since its inception was -86.18%, which is greater than CAT's maximum drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for TRTX and CAT.

Drawdown Indicators

	TRTX	CAT	Difference
Max Drawdown Largest peak-to-trough decline	-86.18%	-73.43%	-12.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.56%	-18.14%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-54.39%	-34.05%	-20.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.36%	—
Current Drawdown Current decline from peak	-13.54%	-8.59%	-4.95%
Average Drawdown Average peak-to-trough decline	-21.27%	-19.79%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.74%	5.13%	+1.61%

Volatility

TRTX vs. CAT - Volatility Comparison

The current volatility for TPG RE Finance Trust, Inc. (TRTX) is 7.04%, while Caterpillar Inc. (CAT) has a volatility of 12.02%. This indicates that TRTX experiences smaller price fluctuations and is considered to be less risky than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRTX	CAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.04%	12.02%	-4.98%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	26.33%	-11.85%
Volatility (1Y) Calculated over the trailing 1-year period	24.16%	34.60%	-10.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.16%	29.76%	+5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.35%	30.52%	+27.83%

Financials

TRTX vs. CAT - Profitability Comparison

The chart below illustrates the profitability comparison between TPG RE Finance Trust, Inc. and Caterpillar Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TRTX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, TPG RE Finance Trust, Inc. reported a gross profit of 71.46M and revenue of 84.02M. Therefore, the gross margin over that period was 85.1%.

CAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported a gross profit of 5.48B and revenue of 19.13B. Therefore, the gross margin over that period was 28.6%.

TRTX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, TPG RE Finance Trust, Inc. reported an operating income of 55.54M and revenue of 84.02M, resulting in an operating margin of 66.1%.

CAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported an operating income of 2.66B and revenue of 19.13B, resulting in an operating margin of 13.9%.

TRTX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, TPG RE Finance Trust, Inc. reported a net income of 3.98M and revenue of 84.02M, resulting in a net margin of 4.7%.

CAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported a net income of 2.40B and revenue of 19.13B, resulting in a net margin of 12.6%.