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Side-by-side financial comparison of BGSF, INC. (BGSF) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
TPG RE Finance Trust, Inc. is the larger business by last-quarter revenue ($35.0M vs $22.0M, roughly 1.6× BGSF, INC.). TPG RE Finance Trust, Inc. runs the higher net margin — 15.6% vs -5.3%, a 20.9% gap on every dollar of revenue. On growth, TPG RE Finance Trust, Inc. posted the faster year-over-year revenue change (0.9% vs -9.4%). Over the past eight quarters, TPG RE Finance Trust, Inc.'s revenue compounded faster (-5.1% CAGR vs -5.3%).
BGSF Inc. is a leading U.S.-headquartered workforce solutions firm that provides tailored staffing, talent recruitment, and end-to-end workforce management services. It serves core segments including information technology, healthcare, professional administration, light industrial, and creative industries, catering to small, mid-sized and large enterprise clients across North America.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
BGSF vs TRTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.0M | $35.0M |
| Net Profit | $-1.2M | $4.0M |
| Gross Margin | 35.0% | — |
| Operating Margin | -17.6% | 11.6% |
| Net Margin | -5.3% | 15.6% |
| Revenue YoY | -9.4% | 0.9% |
| Net Profit YoY | -18.2% | -62.8% |
| EPS (diluted) | $-0.12 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $22.0M | $35.0M | ||
| Q3 25 | $26.9M | $37.8M | ||
| Q2 25 | $23.5M | $36.2M | ||
| Q1 25 | $20.9M | $37.0M | ||
| Q4 24 | $24.3M | $34.7M | ||
| Q3 24 | $29.8M | $40.1M | ||
| Q2 24 | $25.7M | $39.3M | ||
| Q1 24 | $24.5M | $38.9M |
| Q4 25 | $-1.2M | $4.0M | ||
| Q3 25 | $-5.8M | $22.0M | ||
| Q2 25 | $-3.7M | $20.6M | ||
| Q1 25 | $-722.0K | $13.7M | ||
| Q4 24 | $-981.0K | $10.7M | ||
| Q3 24 | $-804.0K | $22.2M | ||
| Q2 24 | $-761.0K | $24.7M | ||
| Q1 24 | $-792.0K | $16.7M |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 35.9% | — | ||
| Q2 25 | 35.8% | — | ||
| Q1 25 | 36.2% | — | ||
| Q4 24 | 35.9% | — | ||
| Q3 24 | 35.9% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 38.1% | — |
| Q4 25 | -17.6% | 11.6% | ||
| Q3 25 | -3.5% | 58.4% | ||
| Q2 25 | -18.8% | 57.3% | ||
| Q1 25 | 1.6% | 37.2% | ||
| Q4 24 | -15.7% | 30.3% | ||
| Q3 24 | -3.4% | 55.4% | ||
| Q2 24 | -5.7% | 63.1% | ||
| Q1 24 | 1.7% | 44.0% |
| Q4 25 | -5.3% | 15.6% | ||
| Q3 25 | -21.6% | 58.1% | ||
| Q2 25 | -15.9% | 57.0% | ||
| Q1 25 | -3.5% | 37.0% | ||
| Q4 24 | -4.0% | 43.3% | ||
| Q3 24 | -2.7% | 55.3% | ||
| Q2 24 | -3.0% | 62.9% | ||
| Q1 24 | -3.2% | 43.0% |
| Q4 25 | $-0.12 | $0.01 | ||
| Q3 25 | $-0.52 | $0.23 | ||
| Q2 25 | $-0.34 | $0.21 | ||
| Q1 25 | $-0.06 | $0.12 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | $-0.07 | $0.23 | ||
| Q2 24 | $-0.07 | $0.26 | ||
| Q1 24 | — | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $87.6M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $48.1M | $1.1B |
| Total Assets | $57.8M | $4.4B |
| Debt / EquityLower = less leverage | — | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $87.6M | ||
| Q3 25 | $41.2M | $93.6M | ||
| Q2 25 | $2.8M | $165.8M | ||
| Q1 25 | $2.0M | $363.0M | ||
| Q4 24 | $32.0K | $190.2M | ||
| Q3 24 | $262 | $226.3M | ||
| Q2 24 | $226 | $259.2M | ||
| Q1 24 | $50 | $203.1M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $48.1M | $1.1B | ||
| Q3 25 | $50.7M | $1.1B | ||
| Q2 25 | $78.3M | $1.1B | ||
| Q1 25 | $81.8M | $1.1B | ||
| Q4 24 | $82.3M | $1.1B | ||
| Q3 24 | $82.9M | $1.1B | ||
| Q2 24 | $83.2M | $1.1B | ||
| Q1 24 | $83.6M | $1.1B |
| Q4 25 | $57.8M | $4.4B | ||
| Q3 25 | $83.6M | $4.1B | ||
| Q2 25 | $149.7M | $4.2B | ||
| Q1 25 | $152.3M | $4.0B | ||
| Q4 24 | $150.1M | $3.7B | ||
| Q3 24 | $157.3K | $3.7B | ||
| Q2 24 | $159.8K | $3.7B | ||
| Q1 24 | $170.6K | $3.8B |
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 2.78× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× | ||
| Q1 24 | — | 2.38× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7M | $90.4M |
| Free Cash FlowOCF − Capex | $1.7M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $90.4M | ||
| Q3 25 | $-4.8M | $21.8M | ||
| Q2 25 | $2.2M | $24.7M | ||
| Q1 25 | $1.1M | $19.1M | ||
| Q4 24 | $3.2M | $112.1M | ||
| Q3 24 | $6.5M | $23.7M | ||
| Q2 24 | $7.3M | $25.6M | ||
| Q1 24 | $7.4M | $37.4M |
| Q4 25 | $1.7M | — | ||
| Q3 25 | $-4.9M | — | ||
| Q2 25 | $2.1M | — | ||
| Q1 25 | $1.0M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $6.5M | — | ||
| Q2 24 | $7.3M | — | ||
| Q1 24 | $6.9M | — |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -18.1% | — | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 21.7% | — | ||
| Q2 24 | 28.5% | — | ||
| Q1 24 | 28.1% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 2.0% | — |
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 2.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGSF
| Contract Field Talent | $21.4M | 97% |
| Other | $595.0K | 3% |
TRTX
Segment breakdown not available.
