EFC Ellington Financial Inc. Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$11.59
· of 52w range
· above low
· to high
$11.2852w low
$14.1252w high
Market Cap (MRQ)
$1.48B
P/E
10.7
EPS
$1.19
your badges
52W Range
$11–$14
Analyst Rating
BUY
Price Target
$15
P/E
10.7
ROE
7.0%
Net Profit Margin
35.3%
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EFC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$11.59
Market Cap (MRQ)
$1.48B
P/E
10.7
EPS
$1.19
Div Yield
12.7%
ROE
7.0%
52W Range
$11–$14
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10-Year Performance Revenue, net income, margins and EPS trends
EPS$1.192016-12-31 → 2025-12-31
Net margin35.3%2019-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | EFC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 10.75Y avg ≈6.5 | ≈6.5 | 12.1 | Undervalued | |
| P/S | 4.35Y avg ≈6.3 | ≈6.3 | 9.1 | Undervalued | |
| P/B (MRQ) | 0.85Y avg ≈0.7 | ≈0.7 | 0.9 | Fair value | |
| Price / Cash Flow | -1.65Y avg ≈5.8 | ≈5.8 | · | · | |
| Price / Tangible Book (MRQ) | 0.85Y avg ≈0.7 | ≈0.7 | · | · | |
| PEG Ratio | ≈0.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | EFC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Pretax Margin | 29.1%5Y avg ≈22.9% | ≈22.9% | 22.5% | Top tier | |
| Net Profit Margin | 35.3%5Y avg ≈7.3% | ≈7.3% | 64.5% | Weak | |
| ROA | 0.67%5Y avg ≈0.77% | ≈0.77% | 1.4% | Weak | |
| ROE | 7.0%5Y avg ≈4.8% | ≈4.8% | 8.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | EFC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 10.1%5Y avg ≈109.1% | ≈109.1% | · | · | |
| Revenue CAGR 3Y | 77.7%5Y avg ≈61.7% | ≈61.7% | · | · | |
| Revenue CAGR 5Y | 48.5% | · | · | · | |
| EPS YoY | -12.5%5Y avg ≈200.6% | ≈200.6% | · | · | |
| Net Income YoY | 0.78%5Y avg ≈240.4% | ≈240.4% | · | · | |
| EPS CAGR 3Y | -19.2% | · | · | · | |
| EPS CAGR 5Y | 25.0% | · | · | · | |
| Net Income CAGR 3Y | -2.0% | · | · | · | |
| Net Income CAGR 5Y | 47.1% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | EFC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.0 | ≈0.0 | 0.0 | In line |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield12.7%
Payout Ratio154.6%
Annualized Payout≈$1.56
5Y Div CAGR≈7.6%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 30, 2026 | $0.13 | USD | ≈13.2% |
| Aug 31, 2026 | $0.13 | USD | ≈11.7% |
| Jul 31, 2026 | $0.13 | USD | ≈11.7% |
| Jun 30, 2026 | $0.13 | USD | ≈11.5% |
| May 29, 2026 | $0.13 | USD | ≈11.5% |
| Apr 30, 2026 | $0.13 | USD | ≈11.8% |
| Mar 31, 2026 | $0.13 | USD | ≈13.2% |
| Feb 27, 2026 | $0.13 | USD | ≈12.6% |
| Jan 30, 2026 | $0.13 | USD | ≈12.1% |
| Dec 31, 2025 | $0.13 | USD | ≈11.5% |
| Nov 28, 2025 | $0.13 | USD | ≈11.4% |
| Oct 31, 2025 | $0.13 | USD | ≈11.7% |
| Sep 30, 2025 | $0.13 | USD | ≈12.0% |
| Aug 29, 2025 | $0.13 | USD | ≈11.4% |
| Jul 31, 2025 | $0.13 | USD | ≈12.3% |
| Jun 30, 2025 | $0.13 | USD | ≈12.0% |
| May 30, 2025 | $0.13 | USD | ≈12.4% |
| Apr 30, 2025 | $0.13 | USD | ≈12.0% |
| Mar 31, 2025 | $0.13 | USD | ≈11.8% |
| Feb 28, 2025 | $0.13 | USD | ≈10.9% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
14.3%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $0.60 | $0.48 | 23.8% |
| March 31, 2026 | May 12, 2026 | $0.55 | $0.44 | 23.8% |
| Dec. 31, 2025 | $0.47 | $0.45 | 3.4% | |
| Sept. 30, 2025 | $0.53 | $0.44 | 19.7% | |
| June 30, 2025 | $0.47 | $0.40 | 16.7% | |
| March 31, 2025 | $0.39 | $0.40 | -1.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | · | · | · | · | · | · | · | · | · | $1M | $1M | $1M | |
| Operating Expenses | $239M | $189M | $188M | $85M | $65M | $45M | $39M | $92M | $59M | $44M | $38M | $35M | |
| Operating Income | · | · | · | · | · | · | · | $43M | $35M | $36M | $66M | $59M | |
| Interest Expense | $305M | $280M | $262M | $142M | $44M | $62M | $78M | $57M | $31M | $16M | $12M | $10M | |
| Interest Income | $494M | $416M | $370M | $282M | $176M | $174M | $160M | $131M | $90M | $74M | $102M | $94M | |
| Pretax Income | $98M | $116M | $89M | $-25M | $86M | $2M | $55M | · | · | · | · | · | |
| Income Tax | $4M | $612.0K | $457.0K | $-18M | $3M | $11M | $2M | · | · | · | · | · | |
| Net Income | $119M | $118M | $61M | $-85M | $125M | $17M | $56M | $47M | $34M | $-16M | $38M | $59M | |
| EPS (Basic) | $1.19 | $1.36 | $0.89 | $-1.43 | $2.58 | $0.39 | $1.76 | $1.52 | $1.04 | $-0.48 | $1.13 | $2.09 | |
| EPS (Diluted) | $1.19 | $1.36 | $0.89 | $-1.43 | $2.58 | $0.39 | $1.76 | $1.52 | $1.04 | $-0.48 | $1.13 | $2.09 | |
| Shares (Basic) | 100,528,864 | 87,691,687 | 69,063,163 | 60,615,690 | 49,214,931 | · | · | · | · | · | · | · | |
| EBITDA | · | · | · | · | · | · | · | $43M | $35M | $36M | $66M | $59M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $202M | $192M | $229M | $217M | $93M | $112M | $72M | $45M | $47M | $123M | $184M | $114M | |
| PP&E (Net) | $868.0K | $1M | $1M | $1M | $0 | · | · | · | · | · | · | · | |
| Intangibles | $2M | $2M | $3M | $3M | $0 | · | · | · | · | · | · | · | |
| Total Assets | $19.35B | $16.32B | $15.32B | $14.09B | $5.18B | $3.41B | $4.34B | $3.97B | $2.99B | $2.41B | $2.99B | $3.95B | |
| Deferred Tax | · | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Total Liabilities | $17.48B | $14.73B | $13.78B | $12.87B | $3.85B | $2.49B | $3.47B | $3.38B | $2.37B | $1.77B | $2.25B | $3.16B | |
| Long-term Debt | · | · | · | $0 | $86M | $86M | $85M | $85M | $85M | $0 | · | · | |
| Common Stock | $113.0K | $91.0K | $83.0K | $64.0K | $58.0K | $44.0K | $39.0K | $564M | $590M | $628M | $722M | $773M | |
| Retained Earnings | $-413M | $-375M | $-353M | $-291M | $-97M | $-142M | $-104M | · | · | · | · | · | |
| Stockholders' Equity | $1.83B | $1.57B | $1.52B | $1.20B | $1.29B | $885M | $829M | $564M | $600M | $638M | $732M | $782M | |
| Liabilities + Equity | $19.35B | $16.32B | $15.32B | $14.09B | $5.18B | $3.41B | $4.34B | $3.97B | $2.99B | $2.41B | $2.99B | $3.95B | |
| Shares Outstanding | 113,138,860 | 90,678,492 | 83,000,488 | 63,812,215 | 57,458,169 | 43,781,684 | 38,647,943 | 29,796,601 | 31,335,938 | 32,294,703 | 33,126,012 | 33,449,678 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $4M | $1M | $1M | $1M | $971.0K | $722.0K | $475.0K | · | · | · | · | · | |
| Deferred Tax | $0 | $0 | $0 | $-18M | $3M | $11M | $1M | · | · | · | · | · | |
| Amort. of Intangibles | $385.0K | $502.0K | $602.0K | $225.0K | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-925M | $-431M | $-242M | $43M | $51M | $120M | $79M | $-494M | $-463M | $70M | $654M | $-604M | |
| Investing Cash Flow | $-4.07B | $-728M | $175M | $-1.75B | $-2.03B | $507M | $-1.66B | · | · | · | · | · | |
| Stock Issued | $302M | $100M | $122M | $99M | $245M | $96M | $157M | · | · | $0 | $0 | $188M | |
| Stock Repurchased | $0 | $685.0K | $12M | $2M | $0 | $3M | $782.0K | $23M | $15M | $14M | $6M | $0 | |
| Net Stock Activity | $302M | $100M | $110M | $98M | $245M | · | $156M | $-23M | $-15M | $-14M | $-6M | $188M | |
| Dividends Paid | $184M | $164M | $149M | $123M | $86M | $65M | $54M | $51M | $58M | $65M | $83M | $86M | |
| Financing Cash Flow | $5.12B | $1.14B | $76M | $1.84B | $1.95B | $-587M | $1.61B | $492M | $387M | $-130M | $-584M | $535M | |
| Net Change in Cash | $129M | $-22M | $9M | $129M | $-19M | $39M | $27M | $-3M | $-76M | $-61M | $70M | $-69M | |
| Taxes Paid | $1M | · | · | · | · | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 35.3% | 38.6% | 22.0% | -142.2% | 83.0% | · | 60.6% | · | · | · | · | · | |
| Pretax Margin | 29.1% | 38.0% | 32.2% | -41.6% | 56.7% | · | 67.7% | · | · | · | · | · | |
| ROA | 0.67% | 0.74% | 0.41% | -0.89% | 2.9% | · | 1.4% | 1.3% | 1.3% | -0.59% | 1.1% | 1.7% | |
| ROE | 7.0% | 7.6% | 4.5% | -6.9% | 11.5% | · | 8.1% | 8.0% | 5.5% | -2.3% | 5.0% | 8.4% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | 0.8 | 1.1 | 2.2 | 5.5 | 5.9 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | 0.0 | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $16.21 | $17.32 | $18.28 | $18.74 | $22.47 | · | $21.46 | $18.92 | $19.15 | $19.75 | · | · | |
| Cash / Share | $1.78 | $2.12 | $2.76 | $3.40 | $1.61 | · | $1.87 | $1.50 | $1.51 | $3.82 | · | · | |
| Dividend / Share | $1560.00 | $1600.00 | $1800.00 | $1800.00 | $1.64 | $1.26 | $1.81 | $1.64 | $1.76 | $1.95 | $2.45 | · | |
| EPS (TTM) | $1.19 | $1.36 | $0.89 | $-1.43 | $2.58 | $0.39 | $1.76 | $1.52 | $1.04 | $-0.48 | $1.13 | $2.09 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 10.1% | 10.4% | 361.6% | -60.3% | 223.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 77.7% | 26.5% | 81.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 48.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -12.5% | 52.8% | · | · | 561.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | -19.2% | 31.7% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 25.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 0.78% | 93.5% | · | · | 626.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | -2.0% | 52.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 47.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 23.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $336M | $306M | $277M | $60M | $151M | $47M | $93M | · | · | · | · | · | |
| Net Income TTM | $119M | $118M | $61M | $-85M | $125M | $17M | $56M | $47M | $34M | $-16M | $38M | $59M | |
| Market Cap | $1.54B | $1.10B | $1.05B | $789M | $982M | · | $708M | $457M | $455M | $501M | · | · | |
| P/E | 11.4 | 8.9 | 14.3 | -8.7 | 6.6 | 38.1 | 10.4 | 10.1 | 14.0 | -32.3 | 14.8 | 9.6 | |
| P/S | 4.6 | 3.6 | 3.8 | 13.2 | 6.5 | · | 7.6 | · | · | · | · | · | |
| P/B | 0.8 | 0.7 | 0.7 | 0.7 | 0.8 | · | 0.9 | 0.8 | 0.8 | 0.8 | · | · | |
| P / Tangible Book | 0.8 | 0.7 | 0.7 | 0.7 | 0.8 | 0.7 | · | · | · | · | · | · | |
| P / Cash Flow | -1.7 | -2.6 | -4.4 | 18.5 | 19.1 | · | 8.9 | -0.9 | -1.0 | 7.2 | · | · | |
| Dividend Yield | 11.9% | 14.9% | 14.1% | 15.6% | 8.7% | · | 7.7% | 11.1% | 12.7% | 13.0% | · | · | |
| Earnings Yield | 8.8% | 11.2% | 7.0% | -11.6% | 15.1% | 2.6% | 9.6% | 9.9% | 7.2% | -3.1% | 6.7% | 10.5% | |
| Payout Ratio | 154.6% | 138.8% | 245.1% | -144.2% | 68.4% | · | 96.2% | 108.7% | 169.6% | -407.0% | 219.1% | 146.1% | |
| Annual Payout | $184M | $164M | $149M | $123M | $86M | $65M | $54M | $51M | $58M | $65M | $83M | $86M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Expenses | $76M | $80M | $72M | $57M | $57M | $52M | $52M | $51M | $43M | $44M | $68M | $39M | $43M | $38M | $38M | $14M | |
| Interest Expense | $99M | $88M | $87M | $73M | $72M | $73M | $69M | $74M | $67M | $70M | $71M | $69M | $63M | $60M | $60M | $42M | |
| Interest Income | $171M | $150M | $140M | $123M | $115M | $116M | $107M | $107M | $100M | $102M | $99M | $96M | $88M | $87M | $90M | $79M | |
| Pretax Income | $47M | $91M | $6M | $26M | $35M | $31M | $20M | $16M | $48M | $32M | $17M | $14M | $17M | $41M | $33M | $-4M | |
| Income Tax | $52.0K | $966.0K | $1M | $1M | $1M | $-96.0K | $397.0K | $12.0K | $142.0K | $61.0K | $112.0K | $224.0K | $100.0K | $21.0K | $-3M | $-81.0K | |
| Net Income | $54M | $95M | $15M | $30M | $43M | $32M | $22M | $16M | $52M | $27M | $12M | $7M | $3M | $39M | $23M | $-33M | |
| EPS (Basic) | $0.43 | $0.78 | $0.10 | $0.29 | $0.45 | $0.35 | $0.23 | $0.19 | $0.62 | $0.32 | $0.17 | $0.10 | $0.04 | $0.58 | $0.37 | $-0.55 | |
| EPS (Diluted) | $0.43 | $0.78 | $0.10 | $0.29 | $0.45 | $0.35 | $0.23 | $0.19 | $0.62 | $0.32 | $0.17 | $0.10 | $0.04 | $0.58 | $0.37 | $-0.55 | |
| Shares (Basic) | 127,258,882 | 122,984,252 | · | 102,726,164 | 96,995,375 | 92,529,172 | · | 88,039,194 | 85,879,721 | 85,268,538 | · | 68,604,682 | 67,978,186 | 67,487,982 | · | 60,982,475 |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $247M | $163M | $202M | $185M | $211M | $203M | $192M | $218M | $199M | $187M | $229M | $175M | $195M | $189M | $217M | $175M | |
| PP&E (Net) | $1M | $1M | $868.0K | $960.0K | $1M | $1M | $1M | $1M | $1M | $2M | · | $1M | $1M | · | · | · | |
| Intangibles | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | $3M | · | |
| Total Assets | $21.03B | $20.23B | $19.35B | $17.84B | $17.07B | $16.64B | $16.32B | $15.95B | $15.09B | $15.13B | · | $14.45B | $14.30B | $14.11B | · | $6.34B | |
| Total Liabilities | $19.03B | $18.28B | $17.48B | $16.05B | $15.38B | $15.01B | $14.73B | $14.33B | $13.52B | $13.58B | · | $13.11B | $12.96B | $12.74B | · | $5.16B | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Common Stock | $128.0K | $125.0K | $113.0K | $106.0K | $98.0K | $94.0K | $91.0K | $91.0K | $85.0K | $85.0K | · | $68.0K | $67.0K | $67.0K | · | $61.0K | |
| Retained Earnings | $-361M | $-366M | $-413M | $-385M | $-374M | $-379M | $-375M | $-362M | $-344M | $-363M | · | $-334M | $-310M | $-282M | · | $-286M | |
| Stockholders' Equity | $1.97B | $1.92B | $1.83B | $1.77B | $1.67B | $1.61B | $1.57B | $1.61B | $1.55B | $1.53B | · | $1.31B | $1.32B | $1.35B | · | $1.16B | |
| Liabilities + Equity | $21.03B | $20.23B | $19.35B | $17.84B | $17.07B | $16.64B | $16.32B | $15.95B | $15.09B | $15.13B | · | $14.45B | $14.30B | $14.11B | · | $6.34B | |
| Shares Outstanding | 127,593,315 | 124,649,023 | 113,138,860 | 106,066,429 | 97,891,157 | 94,428,880 | 90,678,492 | 90,661,736 | 85,041,913 | 85,056,648 | 83,000,488 | 68,234,160 | 67,161,740 | 67,185,076 | 63,812,215 | 60,438,787 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | · | · | · | · | · | · | · | · | · | · | $268.0K | · | · | · | $385.0K | $369.0K | |
| Amort. of Intangibles | $9.0K | $8.0K | $9.0K | $125.0K | $126.0K | $125.0K | $126.0K | $125.0K | $126.0K | $125.0K | $125.0K | $126.0K | $125.0K | $226.0K | · | · | |
| Operating Cash Flow | $-19M | $-10M | $-298M | $-290M | $-211M | $-126M | $-141M | $-142M | $-89M | $-59M | $-79M | $-71M | $-43M | $-49M | $-28M | $-11M | |
| Investing Cash Flow | $-2.27B | $-1.91B | $-1.91B | $-1.02B | $-496M | $-634M | $-621M | $-576M | $76M | $393M | $296M | $14M | $-117M | $-19M | $-167M | $-277M | |
| Stock Issued | $38M | $155M | $97M | $110M | $45M | $51M | $0 | $73M | $0 | $27M | $47M | $15M | $0 | $61M | $46M | $8M | |
| Stock Repurchased | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $161.0K | $524.0K | $0 | $0 | $280.0K | $12M | $0 | $495.0K | |
| Net Stock Activity | · | $155M | · | · | · | $51M | · | · | · | $26M | · | · | · | $49M | · | · | |
| Dividends Paid | $54M | $55M | $50M | $47M | $45M | $43M | $42M | $41M | $40M | $40M | $42M | $37M | $36M | $34M | $32M | $31M | |
| Financing Cash Flow | $2.38B | $1.77B | $2.34B | $1.29B | $720M | $769M | $743M | $742M | $23M | $-370M | $-163M | $37M | $166M | $36M | $241M | $239M | |
| Net Change in Cash | $98M | $-147M | $133M | $-25M | $13M | $8M | $-19M | $24M | $11M | $-37M | $54M | $-20M | $6M | $-32M | $47M | $-49M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 44.2% | 55.7% | · | 35.6% | 46.4% | 38.2% | · | 24.1% | 57.4% | 35.6% | · | 12.3% | 4.9% | 49.1% | · | -327.5% | |
| Pretax Margin | 38.3% | 53.1% | · | 31.1% | 38.3% | 37.3% | · | 24.0% | 52.8% | 42.2% | · | 26.6% | 28.1% | 52.2% | · | -42.3% | |
| ROA | 0.29% | 0.52% | · | 0.17% | 0.27% | 0.20% | · | 0.11% | 0.36% | 0.18% | · | 0.06% | 0.03% | 0.39% | · | -0.62% | |
| ROE | 3.0% | 5.4% | · | 1.8% | 2.7% | 2.0% | · | 1.1% | 3.6% | 1.9% | · | 0.53% | 0.23% | 2.9% | · | -3.0% |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $15.41 | $15.40 | · | $16.65 | $17.01 | $17.09 | · | $17.73 | $18.26 | $18.03 | · | $19.25 | $19.69 | $20.09 | · | $19.12 | |
| Cash / Share | $1.94 | $1.31 | · | $1.74 | $2.16 | $2.15 | · | $2.40 | $2.33 | $2.20 | · | $2.56 | $2.90 | $2.81 | · | $2.90 | |
| Dividend / Share | $0.39 | $390.00 | $390.00 | $390.00 | $0.39 | $390.00 | $779.61 | $0.39 | $390.00 | $430.00 | $1349.10 | $450.00 | $0.45 | $0.45 | $1798.65 | $0.45 | |
| EPS (TTM) | $1.60 | $1.62 | · | $1.32 | $1.22 | $1.39 | · | $1.30 | $1.21 | $0.63 | · | $1.09 | $0.44 | $-0.68 | · | $-1.24 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $455M | $425M | · | $330M | $314M | $313M | · | $318M | $305M | $273M | · | $263M | $220M | $128M | · | $15M | |
| Net Income TTM | $194M | $183M | · | $126M | $113M | $123M | · | $108M | $98M | $49M | · | $71M | $31M | $-37M | · | $-74M | |
| Market Cap | $1.74B | $1.48B | · | $1.38B | $1.27B | $1.25B | · | $1.17B | $1.03B | $1.00B | · | $851M | $927M | $820M | · | $687M | |
| P/E | 8.5 | 7.3 | · | 9.8 | 10.6 | 9.5 | · | 9.9 | 10.0 | 18.7 | · | 11.4 | 31.4 | -18.0 | · | -9.2 | |
| P/S | 3.8 | 3.5 | · | 4.2 | 4.0 | 4.0 | · | 3.7 | 3.4 | 3.7 | · | 3.2 | 4.2 | 6.4 | · | 46.3 | |
| P/B | 0.9 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.7 | · | 0.6 | 0.7 | 0.6 | · | 0.6 | |
| P / Tangible Book | 0.9 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.7 | · | 0.6 | 0.7 | 0.6 | · | 0.6 | |
| P / Cash Flow | · | -148.3 | · | · | · | -9.9 | · | · | · | -16.9 | · | · | · | -16.9 | · | · | |
| Dividend Yield | 11.8% | 13.3% | · | 12.8% | 13.4% | 13.3% | · | 14.0% | 15.5% | 15.4% | · | 16.3% | 14.4% | 15.6% | · | 17.3% | |
| Earnings Yield | 11.8% | 13.7% | · | 10.2% | 9.4% | 10.5% | · | 10.1% | 10.0% | 5.3% | · | 8.7% | 3.2% | -5.6% | · | -10.9% | |
| Payout Ratio | · | 58.0% | · | · | · | 135.4% | · | · | · | 148.4% | · | · | · | 87.3% | · | · | |
| Annual Payout | $205M | $196M | · | $176M | $171M | $166M | · | $163M | $159M | $155M | · | $139M | $133M | $128M | · | $119M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $119M | $118M | $61M | $-85M | $125M |
| Diluted EPS | $1.19 | $1.36 | $0.89 | $-1.43 | $2.58 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 262 filers · $965.3M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
262
Value held
$965.3M
New positions
37
Exited positions
25
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 37 (-13 vs prior Q) | 25 (-23 vs prior Q) | 100 (+4 vs prior Q) | 59 (-6 vs prior Q) | +3.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $284,143,916 | 20,877,584 | 29.44% | Shares |
| VANGUARD GROUP INC | $95,101,256 | 7,003,038 | 9.85% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $72,677,046 | 5,339,974 | 7.53% | Shares |
| STATE STREET CORP | $68,043,422 | 4,952,930 | 7.05% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $43,299,113 | 3,180,748 | 4.49% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $30,566,127 | 2,245,858 | 3.17% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $29,396,783 | 2,159,940 | 3.05% | Shares |
| Invesco Ltd. | $25,030,832 | 1,839,150 | 2.59% | Shares |
| JPMORGAN CHASE & CO | $20,240,377 | 1,480,642 | 2.10% | Shares |
| NORTHERN TRUST CORP | $20,235,090 | 1,486,781 | 2.10% | Shares |
| Delphi Financial Group, Inc. | $19,168,270 | 1,408,396 | 1.99% | Shares |
| VAN ECK ASSOCIATES CORP | $17,054,990 | 1,253,122 | 1.77% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $15,690,316 | 1,152,852 | 1.63% | Shares |
| EMG Holdings, L.P. | $15,283,377 | 1,122,952 | 1.58% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $11,712,943 | 860,613 | 1.21% | Shares |
| MORGAN STANLEY | $11,628,901 | 854,436 | 1.20% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,169,455 | 820,680 | 1.16% | Shares |
| Bank of New York Mellon Corp | $11,133,180 | 818,015 | 1.15% | Shares |
| D. E. Shaw & Co., Inc. | $10,007,855 | 735,331 | 1.04% | Shares |
| TWO SIGMA INVESTMENTS, LP | $9,380,611 | 689,244 | 0.97% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $8,247,823 | 606,012 | 0.85% | Shares |
| Dana Investment Advisors, Inc. | $7,278,179 | 534,767 | 0.75% | Shares |
| BANK OF AMERICA CORP /DE/ | $6,062,485 | 445,443 | 0.63% | Shares |
| Public Sector Pension Investment Board | $5,863,447 | 430,819 | 0.61% | Shares |
| GOLDMAN SACHS GROUP INC | $5,265,573 | 386,890 | 0.55% | Shares |
| FIRST TRUST ADVISORS LP | $4,721,430 | 346,909 | 0.49% | Shares |
| CITADEL ADVISORS LLC | $4,715,974 | 346,508 | 0.49% | Shares |
| RHUMBLINE ADVISERS | $3,903,264 | 286,795 | 0.40% | Shares |
| UBS Group AG | $3,893,371 | 286,067 | 0.40% | Shares |
| Legal & General Group Plc | $3,695,087 | 271,498 | 0.38% | Shares |
| MARSHALL WACE, LLP | $3,416,435 | 251,024 | 0.35% | Shares |
| Swiss National Bank | $3,319,479 | 243,900 | 0.34% | Shares |
| Nuveen, LLC | $3,229,993 | 237,325 | 0.33% | Shares |
| AMERIPRISE FINANCIAL INC | $2,994,038 | 219,816 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,844,490 | 209,000 | 0.29% | Call option |
| GraniteShares Advisors LLC | $2,762,231 | 202,956 | 0.29% | Shares |
| HBK INVESTMENTS L P | $2,722,000 | 200,000 | 0.28% | Put option |
| FMR LLC | $2,680,900 | 196,980 | 0.28% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $2,176,762 | 183,693 | 0.23% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,046,753 | 150,386 | 0.21% | Shares |
| WELLS FARGO & COMPANY/MN | $1,909,812 | 140,324 | 0.20% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,754,438 | 128,908 | 0.18% | Shares |
| DEUTSCHE BANK AG\ | $1,739,399 | 127,803 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,679,216 | 141,706 | 0.17% | Shares |
| Angel Oak Capital Advisors, LLC | $1,622,993 | 119,250 | 0.17% | Shares |
| Amundi | $1,594,371 | 117,147 | 0.17% | Shares |
| AMERICAN FINANCIAL GROUP INC | $1,361,000 | 100,000 | 0.14% | Shares |
| NORDEN GROUP LLC | $1,308,826 | 96,167 | 0.14% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $1,279,136 | 93,985 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,240,960 | 91,180 | 0.13% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Michael W. Vranos, VC Investments L.L.C. (, EMG Holdings, L.P. (, Ellington Financial Management LLC ( ×2 filings | Dec. 13, 2023 | · | Initial filing | · | SEC |
| Michael W. Vranos (2), VC Investments L.L.C. (, EMG Holdings, L.P. (, Ellington Financial Management LLC ( ×11 filings | Oct. 19, 2021 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 13 insiders · 6 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Laurence Penn | CEO and President | March 2, 2020 M | 38,759 | 0 | 0 | $0 |
| John Herlihy | Chief Financial Officer | Dec. 17, 2025 A | · | 0 | 0 | $0 |
| Michael W Vranos | Co-Chief Investment Officer | Aug. 5, 2026 J | 1,129,746 | 0 | 0 | $0 |
| Chris Smernoff | Chief Accounting Officer | Dec. 17, 2025 A | · | 0 | 0 | $0 |
| Mark Tecotzky | Co-Chief Investment Officer | Sept. 30, 2017 J | 26,838 | 0 | 0 | $0 |
| Daniel R. Margolis | Secretary | Oct. 8, 2010 P | 450 | 0 | 0 | $0 |
| Stephen J Dannhauser | Director | Sept. 9, 2026 A | · | 0 | 0 | $0 |
| Edward Resendez | Director | Sept. 9, 2026 A | · | 0 | 0 | $0 |
| Lisa Mumford | Director | Sept. 9, 2026 A | 98,954 | 0 | 0 | $0 |
| Ronald I Simon | Director | Sept. 9, 2026 A | 90,181 | 0 | 0 | $0 |
| Thomas F Robards | Director | Sept. 10, 2020 A | · | 0 | 0 | $0 |
| EMG Holdings, L.P. | 10% owner | July 2, 2012 J | 2,362,091 | 0 | 0 | $0 |
| FBR Capital Markets PT Inc | 10% owner | Oct. 8, 2010 S | 851,725 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 43 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| DVDN · ETF Opportunities Trust | 4.49% | 10,330 NS | July 31, 2026 | N-PORT |
| SRET · Global X Funds | 3.48% | 610,030 NS | July 31, 2026 | N-PORT |
| XSHD · Invesco Exchange-Traded Fund Trust … | 3.30% | 176,124 | Oct. 2, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 1.54% | 40,800 NS | July 31, 2026 | N-PORT |
| XSLV · Invesco Exchange-Traded Fund Trust … | 1.07% | 209,307 | Oct. 2, 2026 | Daily |
| SDIV · Global X Funds | 1.04% | 950,463 NS | July 31, 2026 | N-PORT |
| XSVM · Invesco Exchange-Traded Fund Trust | 0.80% | 395,526 | Oct. 2, 2026 | Daily |
| RZG · Invesco Exchange-Traded Fund Trust | 0.79% | 80,210 | Oct. 2, 2026 | Daily |
| IWC · iShares Trust | 0.38% | 422,418 SH | Sept. 11, 2026 | Daily |
| PSCF · Invesco Exchange-Traded Fund Trust … | 0.36% | 8,314 | Oct. 2, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 102,799 NS | July 31, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.19% | 149,255 SH | Aug. 19, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.18% | 39,235 | Oct. 2, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.13% | 126,526 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.11% | 108,737 SH | Aug. 19, 2026 | Daily |
| PFF · iShares Trust | 0.11% | 531,977 SH | Sept. 11, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.10% | 911 NS | July 31, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.10% | 19,095 | Oct. 2, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.09% | 438,417 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.08% | 173,434 | Oct. 2, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.06% | 64,095 NS | July 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.05% | 59,594 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.05% | 3,145,805 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 717,157 SH | Aug. 19, 2026 | Daily |
| VRP · Invesco Exchange-Traded Fund Trust … | 0.04% | 52,783 | Oct. 2, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.04% | 60,271 | Oct. 2, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.03% | 11,462 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,434,942 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.02% | 198,566 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.02% | 31,758 NS | July 31, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.02% | 31,926 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 6,268 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 173,659 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 34,536 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,786,215 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 10,039 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 7,654,474 SH | Sept. 10, 2026 | Daily |
| IJT · iShares Trust | · | 1,187,679 SH | Sept. 9, 2026 | Daily |
| IWN · iShares Trust | · | 1,169,079 SH | Sept. 11, 2026 | Daily |
| REM · iShares Trust | · | 1,549,844 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 17,375 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 5,362 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 26,833 SH | Sept. 11, 2026 | Daily |
EFC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
BUY
Median target
$15.00
+29.4%
1 8.3%
Strong Buy
8 66.7%
Buy
3 25.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-10-02Mean target $14.86 +28.2%
← Below all targets
Current price $11.59
Low$14.00
Mean$14.86
High$16.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| EFC | $1.54B | 11.4 | 10.1% | 35.3% | 7.0% | · |
| RITM | $6.06B | 10.5 | -6.7% | 15.2% | 8.6% | · |
| STWD | $6.67B | 15.7 | -5.3% | 22.3% | 6.2% | · |
| DX | $2.45B | 5.7 | 1845.8% | 279.0% | 15.7% | · |
| ARR | $1.98B | 5.4 | 490.8% | 203.8% | 16.5% | · |
| BXMT | $3.22B | 29.9 | 10.9% | 19.8% | 3.0% | · |
| LADR | $1.40B | 21.5 | -32.9% | 69.2% | 4.2% | · |
| ORC | $1.31B | · | 1944.3% | 146.9% | 13.9% | · |
| ARI | · | 12.0 | -10.6% | · | · | · |
| CIM | · | · | · | · | · | · |
| MFA | $946M | 7.2 | 14.0% | 76.5% | 9.7% | · |
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Source: SEC 10-Q filed Aug 10, 2026