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ARMOUR Residential REIT (ARR) Financials

ARMOUR Residential REIT logo
$15.18 +0.05 (+0.30%)
As of 01:08 PM Eastern
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Annual Income Statements for ARMOUR Residential REIT

Annual Income Statements for ARMOUR Residential REIT

This table shows ARMOUR Residential REIT's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -195 -47 -61 165 - -266 -225 3.89 -242 -80 -26
Consolidated Net Income / (Loss)		 -179 -31 -46 181 - -250 -215 15 -230 -68 -14
Net Income / (Loss) Continuing Operations		 -179 -31 -46 181 - -250 93 15 -222 -75 -14
Total Pre-Tax Income 		-179 -31 -46 181 - -250 93 15 -222 -75 -14
Total Revenue		 -141 5.74 -8.01 217 - -211 135 50 -173 -24 46
Net Interest Income / (Expense)		 386 306 191 160 - 151 106 73 108 27 27
Total Interest Income		 451 365 264 254 - 440 169 71 228 553 551
Other Interest Income		 - - 264 254 - - 169 - 228 553 551
Total Interest Expense		 65 59 73 95 - 231 63 7.11 121 526 524
Federal Funds Purchased and Securities Sold Interest Expense		 60 59 73 95 - 288 63 7.11 121 526 524
Total Non-Interest Income		 -527 -300 -199 57 - -363 28 -14 -280 -51 19
Other Service Charges		 - - - - - - 8.86 - 7.80 - 6.60
Net Realized & Unrealized Capital Gains on Investments		 -527 -300 -199 57 - -363 - -14 659 -51 361
Other Non-Interest Income		 - - - - - - 20 - -947 - -349
Total Non-Interest Expense		 38 37 38 36 - 38 41 35 46 50 60
Salaries and Employee Benefits		 2.80 2.29 2.26 2.30 - 3.89 5.60 6.61 5.49 4.94 4.74
Other Operating Expenses		 35 35 35 34 - 35 35 28 40 45 56
Nonoperating Income / (Expense), net		 - - - - - - - - -4.18 - 0.00
Preferred Stock Dividends Declared		 16 16 16 16 - 16 9.79 11 12 12 12
Basic Earnings per Share		 ($4.32) ($1.09) ($1.67) $4.22 - ($4.59) ($3.57) $0.24 ($10.25) ($1.86) ($0.51)
Weighted Average Basic Shares Outstanding		 44.65M 42.78M 36.70M 39.17M 42.13M 57.83M 63.07M 15.90M 23.59M 43.05M 52.16M
Diluted Earnings per Share		 ($4.32) ($1.09) ($1.67) $4.17 - ($4.59) ($3.57) $0.24 ($10.25) ($1.86) ($0.51)
Weighted Average Diluted Shares Outstanding		 44.65M 42.78M 36.70M 39.64M 42.13M 57.83M 63.07M 16.06M 23.59M 43.05M 52.16M
Weighted Average Basic & Diluted Shares Outstanding		 45.10M 43M 36.70M 39.20M 42.13M 58.88M 63.07M 96.01M 192.77M 48.75M 76.41M
Cash Dividends to Common per Share		 $4.80 $3.89 $3.02 $2.28 $2.28 $2.16 $1.20 $6.00 $6.00 $5.00 $2.88

Quarterly Income Statements for ARMOUR Residential REIT

This table shows ARMOUR Residential REIT's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -147 36 -34 40 -182 97 12 -51 63 -49 24
Consolidated Net Income / (Loss)		 -144 39 -31 43 -179 100 15 -48 66 -46 27
Net Income / (Loss) Continuing Operations		 -144 47 -31 43 -181 95 15 -48 66 -46 27
Total Pre-Tax Income 		-144 47 -31 43 -181 95 15 -48 66 -46 27
Total Revenue		 -129 62 -21 56 -168 109 37 -35 78 -33 42
Net Interest Income / (Expense)		 30 12 12 5.54 3.60 5.76 5.33 6.97 1.84 13 36
Total Interest Income		 74 151 118 135 154 146 141 130 127 152 173
Other Interest Income		 74 - - 135 154 - 141 130 127 152 173
Total Interest Expense		 44 61 106 129 150 140 136 123 125 140 137
Federal Funds Purchased and Securities Sold Interest Expense		 44 - 106 129 150 140 136 123 125 140 137
Total Non-Interest Income		 -158 -28 -33 50 -172 103 31 -42 76 -46 5.78
Other Service Charges		 1.95 - - 1.65 - - 1.65 1.65 1.65 1.65 1.65
Net Realized & Unrealized Capital Gains on Investments		 354 399 -33 206 -172 -53 167 69 -232 357 -204
Other Non-Interest Income		 -514 - - -158 - - -138 -113 306 -404 208
Total Non-Interest Expense		 12 15 10 13 13 15 22 13 12 13 15
Salaries and Employee Benefits		 1.41 1.26 1.16 1.26 1.26 1.26 1.44 1.14 1.14 1.03 0.81
Other Operating Expenses		 10 14 9.05 11 11 13 21 12 11 12 14
Preferred Stock Dividends Declared		 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Basic Earnings per Share		 ($5.98) $1.54 ($0.95) $1.00 ($3.92) $2.24 $0.24 ($1.05) $1.22 ($0.95) $0.32
Weighted Average Basic Shares Outstanding		 24.65M 23.59M 36.92M 39.74M 46.51M 43.05M 48.77M 48.77M 51.65M 52.16M 75.22M
Diluted Earnings per Share		 ($5.98) $1.54 ($0.95) $1.00 ($3.92) $2.24 $0.24 ($1.05) $1.21 ($0.95) $0.32
Weighted Average Diluted Shares Outstanding		 24.65M 23.59M 36.92M 40.08M 46.51M 43.05M 48.99M 48.77M 51.83M 52.16M 75.38M
Weighted Average Basic & Diluted Shares Outstanding		 132.14M 192.77M 195.51M 228.31M 49.00M 48.75M 48.75M 48.77M 55.76M 76.41M 81.75M
Cash Dividends to Common per Share		 $1.50 $1.99 $1.40 $1.20 $1.20 $1.44 $0.72 $0.72 $0.72 $0.88 $0.72

Annual Cash Flow Statements for ARMOUR Residential REIT

This table details how cash moves in and out of ARMOUR Residential REIT's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -1.92 -205 -202 -69 -50 41 -101 185 -238 141 -113
Net Cash From Operating Activities		 300 238 -203 110 75 -41 -258 12 124 133 261
Net Cash From Continuing Operating Activities		 315 238 -203 110 75 -41 -258 12 124 133 261
Net Income / (Loss) Continuing Operations		 -179 -31 -46 181 -106 -250 -215 15 -230 -68 -14
Consolidated Net Income / (Loss)		 -179 -31 -46 181 -106 -250 -215 15 -230 -68 -14
Amortization Expense		 83 110 86 45 33 53 51 48 17 3.52 -0.35
Non-Cash Adjustments to Reconcile Net Income		 -68 12 -49 -39 206 15 8.84 80 1,114 106 314
Changes in Operating Assets and Liabilities, net		 464 147 -195 -77 -58 141 -103 -132 -777 91 -38
Net Cash From Investing Activities		 -796 2,196 5,484 -959 466 -4,390 7,086 504 -3,895 -3,039 -1,686
Net Cash From Continuing Investing Activities		 -796 2,196 5,484 -959 466 -4,390 7,086 504 -3,895 -3,039 -1,686
Purchase of Investment Securities		 -30,582 -5,146 -3,235 -5,822 -5,583 -10,762 -11,557 -2,645 -18,236 -14,529 -14,037
Sale and/or Maturity of Investments		 30,218 7,525 8,715 4,942 5,948 6,454 18,613 3,022 13,548 11,489 12,378
Other Investing Activities, net		 -433 -183 3.77 -79 101 -82 30 126 793 1.54 -26
Net Cash From Financing Activities		 494 -2,639 -5,483 780 -592 4,471 -6,929 -331 3,533 3,047 1,312
Net Cash From Continuing Financing Activities		 479 -2,639 -5,483 780 -592 4,471 -6,929 -331 3,533 3,047 1,312
Issuance of Common Equity		 0.26 0.15 0.00 133 38 322 55 329 476 450 266
Repurchase of Common Equity		 -5.75 -145 -15 0.00 0.00 -17 -0.78 0.00 -7.66 -9.94 -1.34
Payment of Dividends		 -231 -183 -127 -105 -114 -140 -85 -108 -154 -228 -163
Other Financing Activities, Net		 730 -2,311 -5,342 752 -518 4,317 -6,818 -588 3,219 2,835 1,210
Cash Interest Paid		 216 219 194 165 252 426 184 21 137 607 686

Quarterly Cash Flow Statements for ARMOUR Residential REIT

This table details how cash moves in and out of ARMOUR Residential REIT's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 74 -190 141 -43 -69 112 0.66 -71 9.20 -52 117
Net Cash From Operating Activities		 90 107 54 -8.92 27 60 97 27 47 90 101
Net Cash From Continuing Operating Activities		 90 107 54 -8.92 27 60 97 27 47 90 101
Net Income / (Loss) Continuing Operations		 -144 39 -31 43 -179 100 15 -48 66 -46 27
Consolidated Net Income / (Loss)		 -144 39 -31 43 -179 100 15 -48 66 -46 27
Amortization Expense		 1.95 1.10 1.25 2.33 -0.26 0.20 0.44 1.07 -1.32 -0.53 -0.62
Non-Cash Adjustments to Reconcile Net Income		 537 -46 -100 147 464 -403 128 94 -284 376 -195
Changes in Operating Assets and Liabilities, net		 -304 113 185 -201 -257 364 -46 -20 266 -238 270
Net Cash From Investing Activities		 -1,701 665 -3,926 1,370 -2,102 1,619 179 2,137 -3,264 -737 -2,090
Net Cash From Continuing Investing Activities		 -1,526 490 -3,927 1,370 -2,102 1,620 179 2,137 -3,264 -737 -2,090
Purchase of Investment Securities		 -4,966 -4,346 -6,117 -2,976 -3,245 -2,191 -2,945 -3,868 -4,366 -2,858 -3,019
Sale and/or Maturity of Investments		 3,259 4,872 2,195 4,341 868 4,084 3,057 6,012 1,330 1,979 1,107
Other Investing Activities, net		 182 -37 -5.09 5.15 275 -273 67 -7.17 -227 141 -178
Net Cash From Financing Activities		 1,685 -962 4,013 -1,405 2,006 -1,568 -275 -2,234 3,226 595 2,106
Net Cash From Continuing Financing Activities		 1,685 -962 4,013 -1,405 2,006 -1,568 -275 -2,234 3,226 595 2,106
Issuance of Preferred Equity		 - - - - - - - - - - 0.28
Issuance of Common Equity		 167 174 181 74 195 -0.03 0.00 0.02 127 138 371
Repurchase of Common Equity		 - -6.12 -4.31 -2.07 0.00 -3.56 -1.34 - - - 0.00
Payment of Dividends		 -40 -47 -55 -51 -60 -62 -38 -38 -40 -46 -57
Other Financing Activities, Net		 1,558 -1,083 3,892 -1,425 1,870 -1,502 -235 -2,196 3,139 503 1,791
Cash Interest Paid		 34 69 108 162 179 158 137 198 185 166 132

Annual Balance Sheets for ARMOUR Residential REIT

This table presents ARMOUR Residential REIT's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 16,286 13,055 7,978 8,929 8,465 13,272 5,524 5,277 9,437 12,344 13,548
Cash and Due from Banks		 495 290 272 265 222 181 168 338 87 222 68
Restricted Cash		 129 264 79 17 11 92 4.00 19 31 37 78
Trading Account Securities		 15,358 12,463 6,521 8,518 8,103 12,850 5,233 4,804 9,183 12,037 13,347
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 304 39 20 24 24 44 15 12 136 48 54
Total Liabilities & Shareholders' Equity		 16,286 13,055 7,978 8,929 8,465 13,272 5,524 5,277 9,437 12,344 13,548
Total Liabilities		 14,537 11,830 6,886 7,603 7,339 11,836 4,586 4,134 8,325 11,073 12,187
Short-Term Debt		 14,327 11,804 6,818 7,564 7,228 11,713 4,536 3,959 6,816 9,819 10,817
Accrued Interest Payable		 7.01 7.72 6.93 6.45 10 32 1.63 0.94 23 32 36
Other Long-Term Liabilities		 202 19 61 33 101 91 48 174 1,486 1,222 1,333
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,749 1,225 1,092 1,326 1,125 1,437 938 1,144 1,112 1,271 1,361
Total Preferred & Common Equity		 1,749 1,225 1,282 1,531 1,125 1,437 938 1,144 1,112 1,271 1,361
Preferred Stock		 - - - 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Total Common Equity		 1,749 1,225 1,092 1,326 1,125 1,437 938 1,144 1,112 1,271 1,361
Common Stock		 2,718 2,559 2,560 2,709 2,752 3,055 3,033 3,403 3,875 4,318 4,586
Retained Earnings		 -1,053 -1,267 -1,439 -1,363 -1,583 -1,973 -2,274 -2,367 -2,751 -3,047 -3,224

Quarterly Balance Sheets for ARMOUR Residential REIT

This table presents ARMOUR Residential REIT's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 10,915 13,249 12,539 13,914 12,208 10,052 13,404 15,497
Cash and Due from Banks		 291 135 164 133 221 127 64 49
Restricted Cash		 17 124 52 14 38 62 134 214
Trading Account Securities		 9,376 12,933 12,178 13,615 11,866 9,823 13,155 15,167
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 1,127 57 145 152 83 40 52 66
Total Liabilities & Shareholders' Equity		 10,915 13,249 12,539 13,914 12,208 10,052 13,404 15,497
Total Liabilities		 9,971 12,034 11,256 12,678 10,961 8,891 12,088 13,793
Short-Term Debt		 8,933 10,555 9,738 11,504 8,854 7,413 10,774 12,491
Accrued Interest Payable		 20 47 37 31 62 36 32 62
Other Long-Term Liabilities		 1,018 1,432 1,481 1,143 2,046 1,442 1,282 1,240
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 944 1,215 1,283 1,236 1,247 1,161 1,317 1,704
Total Preferred & Common Equity		 944 1,215 1,283 1,236 1,247 1,161 1,317 1,704
Preferred Stock		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Total Common Equity		 944 1,215 1,283 1,236 1,247 1,161 1,317 1,704
Common Stock		 3,702 4,052 4,129 4,321 4,318 4,319 4,449 4,958
Retained Earnings		 -2,743 -2,837 -2,846 -3,085 -3,071 -3,157 -3,132 -3,254

Annual Metrics And Ratios for ARMOUR Residential REIT

This table displays calculated financial ratios and metrics derived from ARMOUR Residential REIT's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.64% 104.06% -239.52% 2,807.57% 0.00% 0.00% 163.78% -62.71% -443.41% 85.88% 288.15%
EBITDA Growth		 -226.71% 181.58% -48.87% 463.87% -85.35% -696.36% 172.73% -55.79% -417.93% 64.81% 79.24%
EBIT Growth		 4.28% 82.57% -45.86% 497.99% -100.00% 0.00% 137.22% -83.48% -1,520.91% 65.86% 80.69%
NOPAT Growth		 4.28% 82.57% -45.86% 668.56% -100.00% 0.00% 153.17% -83.48% -1,094.64% 65.86% 80.69%
Net Income Growth		 4.27% 82.57% -45.86% 497.99% 0.00% 0.00% 13.92% 107.14% -1,596.65% 70.46% 78.81%
EPS Growth		 4.27% 74.77% -53.21% 349.70% 0.00% 0.00% 22.22% 107.14% -1,596.65% 81.85% 72.58%
Operating Cash Flow Growth		 -18.61% -20.69% -185.38% 154.11% -31.66% -154.13% -533.21% 104.55% 957.12% 7.04% 96.86%
Free Cash Flow Firm Growth		 -116.37% 441.06% 68.11% -115.69% 167.20% -1,026.81% 256.27% -95.02% -869.48% -7.88% 65.83%
Invested Capital Growth		 4.97% -18.96% -39.29% 12.38% -6.03% 57.42% -58.37% -6.79% 55.39% 39.88% 9.81%
Revenue Q/Q Growth		 72.81% 102.25% -149.31% -9.37% 0.00% 0.00% 189.43% -91.41% 52.98% 71.83% -75.66%
EBITDA Q/Q Growth		 80.14% 143.33% -39.62% -12.94% -79.53% -309.35% 224.91% -89.04% 46.82% 45.20% -111.02%
EBIT Q/Q Growth		 67.92% 89.32% -108.67% -11.30% -100.00% 0.00% 155.68% -97.07% 46.04% 44.38% -110.80%
NOPAT Q/Q Growth		 68.95% 89.32% -108.67% -11.30% -100.00% 0.00% 179.06% -97.07% 46.59% 42.59% -107.56%
Net Income Q/Q Growth		 68.95% 89.32% -108.67% -11.30% 0.00% 0.00% -14.52% -86.93% 20.74% 47.00% -110.93%
EPS Q/Q Growth		 68.95% 84.58% -63.73% -8.75% 0.00% 0.00% -2.88% -86.93% 20.74% 38.21% -121.98%
Operating Cash Flow Q/Q Growth		 9.61% -13.59% -78.55% 69.20% 23.99% 51.79% -15.44% -80.91% 2,985.92% -26.17% 13.01%
Free Cash Flow Firm Q/Q Growth		 -50.32% 8.36% -11.91% -464.09% 69.75% -7.26% 10.83% -76.60% 44.40% -8.79% -240.24%
Invested Capital Q/Q Growth		 -7.43% -9.34% -7.81% 3.78% -0.87% 0.67% -7.76% 6.20% -19.72% -12.95% 0.73%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 0.00% 1,364.62% 0.00% 104.15% 0.00% 0.00% 106.47% 126.24% 0.00% 0.00% -32.14%
EBIT Margin		 0.00% -543.26% 0.00% 83.49% 0.00% 0.00% 68.98% 30.56% 0.00% 0.00% -31.39%
Profit (Net Income) Margin		 0.00% -543.26% 0.00% 83.49% 0.00% 0.00% -159.53% 30.56% 0.00% 0.00% -31.39%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% -231.28% 100.00% 103.35% 91.14% 100.00%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 101.92% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -0.15% 0.00% 2.16% 0.00% 0.00% 1.00% 0.29% 0.00% 0.00% -0.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -0.22% 0.00% 2.16% 0.00% 0.00% -2.79% 0.29% 0.00% 0.00% -0.13%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -1.95% 0.00% 12.83% 0.00% 0.00% -19.11% 1.19% 0.00% 0.00% -1.01%
Return on Equity (ROE)		 -9.81% -2.10% -3.93% 14.98% 0.00% -19.51% -18.11% 1.48% -20.38% -5.70% -1.09%
Cash Return on Invested Capital (CROIC)		 -5.65% 20.79% 48.58% -9.50% 6.22% -46.24% 83.42% 7.32% -45.72% -33.80% -9.44%
Operating Return on Assets (OROA)		 0.00% -0.21% 0.00% 2.14% 0.00% 0.00% 0.99% 0.28% 0.00% 0.00% -0.11%
Return on Assets (ROA)		 0.00% -0.21% 0.00% 2.14% 0.00% 0.00% -2.29% 0.28% 0.00% 0.00% -0.11%
Return on Common Equity (ROCE)		 -9.81% -2.10% -3.93% 14.98% 0.00% -19.51% -18.11% 1.48% -20.38% -5.70% -1.09%
Return on Equity Simple (ROE_SIMPLE)		 -10.24% -2.55% -3.55% 11.83% 0.00% -17.39% -22.93% 1.34% -20.67% -5.34% -1.06%
Net Operating Profit after Tax (NOPAT)		 -125 -22 -32 181 0.00 -175 93 15 -153 -52 -10
NOPAT Margin		 0.00% -380.28% 0.00% 83.49% 0.00% 0.00% 68.98% 30.56% 0.00% 0.00% -21.97%
Net Nonoperating Expense Percent (NNEP)		 0.39% 0.07% 0.15% 0.00% 0.00% 0.79% 3.79% 0.00% 1.43% 0.19% 0.04%
SG&A Expenses to Revenue		 0.00% 39.89% 0.00% 1.06% 0.00% 0.00% 4.15% 13.15% 0.00% 0.00% 10.33%
Operating Expenses to Revenue		 0.00% 643.26% 0.00% 16.51% 0.00% 0.00% 30.27% 69.44% 0.00% 0.00% 131.39%
Earnings before Interest and Taxes (EBIT)		 -179 -31 -46 181 0.00 -250 93 15 -218 -75 -14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -96 78 40 226 33 -197 144 63 -202 -71 -15
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.20 0.23 0.27 0.33 0.35 0.37 0.42 0.48 0.46 0.63 0.76
Price to Tangible Book Value (P/TBV)		 0.20 0.23 0.27 0.33 0.35 0.37 0.42 0.48 0.46 0.63 0.76
Price to Revenue (P/Rev)		 0.00 48.37 0.00 2.01 0.00 0.00 2.89 10.86 0.00 0.00 22.63
Price to Earnings (P/E)		 0.00 0.00 0.00 2.65 0.00 0.00 0.00 140.35 0.00 0.00 0.00
Dividend Yield		 60.21% 55.78% 37.63% 21.83% 24.80% 23.99% 19.93% 19.71% 30.86% 30.41% 15.48%
Earnings Yield		 0.00% 0.00% 0.00% 37.80% 0.00% 0.00% 0.00% 0.71% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.87 0.88 0.85 0.87 0.88 0.91 0.87 0.81 0.91 0.93 0.96
Enterprise Value to Revenue (EV/Rev)		 0.00 2,006.94 0.00 35.57 0.00 0.00 35.26 82.52 0.00 0.00 255.34
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 147.07 168.71 34.15 223.12 0.00 33.11 65.37 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 42.61 0.00 0.00 51.11 270.05 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 42.61 0.00 0.00 51.11 270.05 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 46.80 48.38 0.00 70.12 98.18 0.00 0.00 353.44 58.12 78.05 44.78
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 3.81 1.33 0.00 13.77 0.00 0.61 10.72 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 8.19 9.63 6.24 5.70 6.42 8.15 4.83 3.46 6.13 7.72 7.95
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 7.60 8.79 8.04 5.95 6.03 7.39 6.84 4.08 4.78 6.98 7.84
Leverage Ratio		 8.77 9.86 9.08 6.99 7.10 8.48 7.91 5.19 6.52 9.14 9.84
Compound Leverage Factor		 8.77 9.86 9.08 6.99 0.00 8.48 7.91 5.19 6.65 9.14 9.84
Debt to Total Capital		 89.12% 90.60% 86.19% 85.08% 86.53% 89.07% 82.86% 77.59% 85.97% 88.54% 88.82%
Short-Term Debt to Total Capital		 89.12% 90.60% 86.19% 85.08% 86.53% 89.07% 82.86% 77.59% 85.97% 88.54% 88.82%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 10.88% 9.40% 13.81% 14.92% 13.47% 10.93% 17.14% 22.41% 14.03% 11.46% 11.18%
Debt to EBITDA		 -149.11 150.59 170.13 33.47 218.38 -59.34 31.60 62.38 -33.78 -138.30 -733.93
Net Debt to EBITDA		 -142.62 143.52 161.36 32.22 211.37 -57.96 30.40 56.76 -33.20 -134.65 -724.01
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -114.31 -540.38 -214.00 41.75 0.00 -66.96 48.77 257.69 -44.61 -188.24 -1,073.60
Net Debt to NOPAT		 -109.34 -515.03 -202.98 40.19 0.00 -65.40 46.92 234.51 -43.84 -183.27 -1,059.09
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -887 3,026 5,087 -798 536 -4,971 7,769 387 -2,979 -3,214 -1,098
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -13.62 51.04 69.58 -8.44 0.00 -21.48 123.37 54.46 -24.67 -6.11 -2.10
Operating Cash Flow to Interest Expense		 4.61 4.02 -2.78 1.16 0.00 -0.18 -4.09 1.65 1.03 0.25 0.50
Operating Cash Flow Less CapEx to Interest Expense		 4.61 4.02 -2.78 1.16 0.00 -0.18 -4.09 1.65 1.03 0.25 0.50
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.03 0.00 0.00 0.01 0.01 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16,077 13,029 7,911 8,890 8,354 13,150 5,474 5,103 7,929 11,091 12,179
Invested Capital Turnover		 0.00 0.00 0.00 0.03 0.00 0.00 0.01 0.01 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 762 -3,048 -5,118 979 -536 4,796 -7,676 -372 2,826 3,162 1,088
Enterprise Value (EV)		 14,060 11,528 6,762 7,719 7,385 11,970 4,754 4,149 7,212 10,366 11,709
Market Capitalization		 356 278 295 437 389 530 390 546 514 806 1,038
Book Value per Share		 $4.90 $30.75 $29.75 $31.67 $26.58 $24.40 $14.50 $12.75 $8.42 $25.94 $24.42
Tangible Book Value per Share		 $4.90 $30.75 $29.75 $31.67 $26.58 $24.40 $14.50 $12.75 $8.42 $25.94 $24.42
Total Capital		 16,077 13,029 7,911 8,890 8,354 13,150 5,474 5,103 7,929 11,091 12,179
Total Debt		 14,327 11,804 6,818 7,564 7,228 11,713 4,536 3,959 6,816 9,819 10,817
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 13,704 11,250 6,467 7,281 6,996 11,440 4,364 3,603 6,698 9,561 10,671
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 54 9.36 14 0.00 0.00 75 308 0.00 77 16 4.32
Net Nonoperating Obligations (NNO)		 14,327 11,804 6,818 7,564 7,228 11,713 4,536 3,959 6,816 9,819 10,817
Total Depreciation and Amortization (D&A)		 83 110 86 45 33 53 51 48 17 3.52 -0.35
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($21.60) ($5.45) $0.00 $21.10 ($14.60) ($22.95) $0.00 $0.25 ($10.25) ($1.86) ($0.51)
Adjusted Weighted Average Basic Shares Outstanding		 8.93M 8.56M 7.34M 7.83M 8.43M 11.57M 0.00 15.90M 23.59M 43.05M 52.16M
Adjusted Diluted Earnings per Share		 ($21.60) ($5.45) $0.00 $20.85 ($14.60) ($22.95) $0.00 $0.25 ($10.25) ($1.86) ($0.51)
Adjusted Weighted Average Diluted Shares Outstanding		 8.93M 8.56M 7.34M 7.93M 8.43M 11.57M 0.00 16.06M 23.59M 43.05M 52.16M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 ($22.95) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.83M 7.34M 7.34M 8.38M 10.30M 11.78M 0.00 19.20M 38.55M 48.75M 76.41M
Normalized Net Operating Profit after Tax (NOPAT)		 -125 -22 -32 127 0.00 -175 65 11 -153 -52 -10
Normalized NOPAT Margin		 0.00% -380.28% 0.00% 58.44% 0.00% 0.00% 48.28% 21.39% 0.00% 0.00% -21.97%
Pre Tax Income Margin		 0.00% -543.26% 0.00% 83.49% 0.00% 0.00% 68.98% 30.56% 0.00% 0.00% -31.39%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -2.75 -0.53 -0.62 1.92 0.00 -1.08 1.48 2.16 -1.81 -0.14 -0.03
NOPAT to Interest Expense		 -1.92 -0.37 -0.44 1.92 0.00 -0.76 1.48 2.16 -1.27 -0.10 -0.02
EBIT Less CapEx to Interest Expense		 -2.75 -0.53 -0.62 1.92 0.00 -1.08 1.48 2.16 -1.81 -0.14 -0.03
NOPAT Less CapEx to Interest Expense		 -1.92 -0.37 -0.44 1.92 0.00 -0.76 1.48 2.16 -1.27 -0.10 -0.02
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -128.89% -585.69% -278.21% 58.12% 0.00% -56.07% -39.64% 703.66% -67.15% -335.93% -1,131.94%
Augmented Payout Ratio		 -132.11% -1,050.17% -310.41% 58.12% 0.00% -62.85% -40.00% 703.66% -70.49% -350.56% -1,141.28%

Quarterly Metrics And Ratios for ARMOUR Residential REIT

This table displays calculated financial ratios and metrics derived from ARMOUR Residential REIT's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -399.80% 147.15% 63.04% 213.14% -30.71% 75.22% 273.09% -163.65% 146.39% -130.49% 15.09%
EBITDA Growth		 -412.35% 136.97% 48.93% 186.09% -31.05% 97.86% 149.67% -204.38% 135.65% -149.50% 78.65%
EBIT Growth		 -512.37% 133.62% 52.80% 173.33% -29.03% 102.07% 146.29% -212.54% 136.43% -149.04% 88.29%
NOPAT Growth		 -388.66% 148.03% 52.80% 204.75% -29.03% 102.07% 166.13% -178.78% 152.05% -134.33% 88.29%
Net Income Growth		 -524.68% 289.73% 52.80% 173.33% -24.15% 152.83% 146.29% -212.54% 136.77% -146.61% 88.29%
EPS Growth		 -524.68% 289.73% 52.80% 173.33% -24.15% 45.45% 125.26% -205.00% 130.87% -142.41% 33.33%
Operating Cash Flow Growth		 821.39% 949.42% 164.77% -189.70% -69.95% -43.82% 78.56% 403.58% 73.41% 49.88% 4.82%
Free Cash Flow Firm Growth		 -544.09% -1,113.58% -18.93% 4.61% 42.17% -10.35% 146.22% 181.78% 123.93% 63.46% -341.57%
Invested Capital Growth		 105.56% 55.39% 44.42% 37.28% 28.99% 39.88% -14.18% -22.20% -5.10% 9.81% 40.53%
Revenue Q/Q Growth		 -161.46% 148.47% -144.91% 363.18% -402.07% 164.98% -66.49% -196.77% 320.15% -142.71% 226.49%
EBITDA Q/Q Growth		 -162.64% 134.71% -182.88% 250.45% -499.81% 152.40% -85.27% -416.19% 236.55% -172.76% 156.86%
EBIT Q/Q Growth		 -139.17% 133.44% -189.02% 237.00% -520.88% 152.37% -85.67% -433.08% 236.26% -170.49% 158.85%
NOPAT Q/Q Growth		 -139.17% 147.77% -155.70% 295.72% -394.62% 174.81% -85.67% -333.16% 294.65% -149.34% 184.08%
Net Income Q/Q Growth		 -146.31% 127.31% -179.57% 237.00% -517.04% 155.61% -85.43% -433.08% 236.26% -170.49% 158.85%
EPS Q/Q Growth		 -146.31% 127.31% -179.57% 237.00% -517.04% 157.14% -89.29% -537.50% 215.24% -178.51% 133.68%
Operating Cash Flow Q/Q Growth		 809.26% 18.79% -49.53% -116.45% 404.61% 122.07% 60.43% -72.03% 74.00% 91.93% 12.21%
Free Cash Flow Firm Q/Q Growth		 -67.17% 46.24% -30.68% 19.00% -1.35% -2.58% 155.00% 43.32% -70.34% -256.60% -262.89%
Invested Capital Q/Q Growth		 23.03% -19.72% 48.44% -6.36% 15.60% -12.95% -8.92% -15.11% 41.01% 0.73% 16.55%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 0.00% 76.94% 0.00% 81.39% 0.00% 86.87% 40.85% 0.00% 82.79% 0.00% 63.41%
EBIT Margin		 0.00% 75.18% 0.00% 77.20% 0.00% 86.69% 39.66% 0.00% 84.49% 0.00% 64.88%
Profit (Net Income) Margin		 0.00% 63.22% 0.00% 77.20% 0.00% 91.22% 39.66% 0.00% 84.49% 0.00% 64.88%
Tax Burden Percent		 100.00% 84.10% 100.00% 100.00% 99.09% 105.23% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 102.99% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.00% 1.28% 0.00% 0.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.00% 1.28% 0.00% 0.27%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.95% 0.00% 11.19% 0.00% 1.98%
Return on Equity (ROE)		 -27.79% -20.38% -17.42% -8.27% -11.76% -5.70% 1.08% -9.28% 12.47% 0.00% 2.26%
Cash Return on Invested Capital (CROIC)		 -72.99% -45.72% -37.72% -32.11% -26.12% -33.80% 15.12% 24.16% 6.31% -9.44% -33.71%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.00% 1.17% 0.00% 0.24%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.00% 1.17% 0.00% 0.24%
Return on Common Equity (ROCE)		 -27.79% -20.38% -17.42% -8.27% -11.76% -5.70% 1.08% -9.28% 12.47% 0.00% 2.26%
Return on Equity Simple (ROE_SIMPLE)		 -30.73% 0.00% -16.04% -7.27% -10.37% 0.00% -1.77% -9.76% 10.00% 0.00% -0.09%
Net Operating Profit after Tax (NOPAT)		 -98 47 -22 43 -127 95 15 -34 66 -33 27
NOPAT Margin		 0.00% 75.18% 0.00% 77.20% 0.00% 86.69% 39.66% 0.00% 84.49% 0.00% 64.88%
Net Nonoperating Expense Percent (NNEP)		 0.73% 0.14% 0.11% 0.00% 0.51% -0.06% 0.00% 0.17% 0.00% 0.14% 0.00%
SG&A Expenses to Revenue		 0.00% 2.02% 0.00% 2.27% 0.00% 1.16% 3.93% 0.00% 1.46% 0.00% 1.93%
Operating Expenses to Revenue		 0.00% 24.82% 0.00% 22.80% 0.00% 13.31% 60.34% 0.00% 15.51% 0.00% 35.12%
Earnings before Interest and Taxes (EBIT)		 -140 47 -31 43 -181 95 15 -48 66 -46 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -138 48 -30 45 -181 95 15 -47 65 -47 27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.41 0.46 0.64 0.66 0.65 0.63 0.73 0.79 0.75 0.76 0.75
Price to Tangible Book Value (P/TBV)		 0.41 0.46 0.64 0.66 0.65 0.63 0.73 0.79 0.75 0.76 0.75
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 27.16 0.00 5.22 22.63 25.01
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.21 0.00 0.00
Dividend Yield		 35.39% 30.86% 29.12% 25.99% 30.12% 30.41% 23.23% 20.29% 16.67% 15.48% 17.13%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.18% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.91 0.91 0.94 0.94 0.95 0.93 0.94 0.95 0.96 0.96 0.95
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 284.66 0.00 61.35 255.34 263.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86.43 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86.68 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86.68 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 2,241.64 58.12 42.27 42.63 67.60 78.05 54.16 38.54 49.96 44.78 50.77
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 5.75 3.44 14.76 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 9.46 6.13 8.69 7.59 9.31 7.72 7.10 6.38 8.18 7.95 7.33
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 6.03 4.78 7.90 7.44 9.37 6.98 7.88 7.02 8.73 7.84 7.23
Leverage Ratio		 7.62 6.52 9.81 9.49 11.39 9.14 10.34 9.24 10.70 9.84 9.39
Compound Leverage Factor		 7.84 6.52 9.81 9.49 11.39 9.14 10.34 9.24 10.70 9.84 9.39
Debt to Total Capital		 90.44% 85.97% 89.68% 88.36% 90.30% 88.54% 87.65% 86.46% 89.11% 88.82% 88.00%
Short-Term Debt to Total Capital		 90.44% 85.97% 89.68% 88.36% 90.30% 88.54% 87.65% 86.46% 89.11% 88.82% 88.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 9.56% 14.03% 10.32% 11.64% 9.70% 11.46% 12.35% 13.54% 10.89% 11.18% 12.00%
Debt to EBITDA		 -23.54 -33.78 -57.18 -112.35 -88.79 -138.30 -457.63 -66.24 80.57 -733.93 -4,191.54
Net Debt to EBITDA		 -22.73 -33.20 -55.78 -109.86 -87.65 -134.65 -444.22 -64.55 79.09 -724.01 -4,103.12
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -31.22 -44.61 -77.38 -149.10 -126.61 -188.24 -573.67 -93.42 80.80 -1,073.60 -11,307.98
Net Debt to NOPAT		 -30.15 -43.84 -75.48 -145.79 -124.99 -183.27 -556.85 -91.04 79.31 -1,059.09 -11,069.44
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -5,170 -2,779 -3,642 -2,950 -2,990 -3,067 1,683 2,413 716 -1,121 -4,066
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -116.65 -45.56 -34.28 -22.86 -19.93 -21.84 12.36 19.62 5.71 -8.01 -29.78
Operating Cash Flow to Interest Expense		 2.04 1.76 0.51 -0.07 0.18 0.43 0.71 0.22 0.38 0.65 0.74
Operating Cash Flow Less CapEx to Interest Expense		 2.04 1.76 0.51 -0.07 0.18 0.43 0.71 0.22 0.38 0.65 0.74
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 9,877 7,929 11,770 11,021 12,740 11,091 10,101 8,574 12,091 12,179 14,195
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00
Increase / (Decrease) in Invested Capital		 5,072 2,826 3,620 2,993 2,863 3,162 -1,669 -2,446 -650 1,088 4,094
Enterprise Value (EV)		 9,014 7,212 11,076 10,364 12,161 10,366 9,501 8,147 11,558 11,709 13,512
Market Capitalization		 389 514 781 843 804 806 907 923 983 1,038 1,285
Book Value per Share		 $8.24 $8.42 $6.30 $6.56 $5.41 $25.94 $25.58 $23.82 $27.00 $24.42 $22.30
Tangible Book Value per Share		 $8.24 $8.42 $6.30 $6.56 $5.41 $25.94 $25.58 $23.82 $27.00 $24.42 $22.30
Total Capital		 9,877 7,929 11,770 11,021 12,740 11,091 10,101 8,574 12,091 12,179 14,195
Total Debt		 8,933 6,816 10,555 9,738 11,504 9,819 8,854 7,413 10,774 10,817 12,491
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 8,625 6,698 10,295 9,522 11,357 9,561 8,594 7,224 10,576 10,671 12,227
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 46 7.45 9.41 0.00 53 -4.95 0.00 15 0.00 14 0.00
Net Nonoperating Obligations (NNO)		 8,933 6,816 10,555 9,738 11,504 9,819 8,854 7,413 10,774 10,817 12,491
Total Depreciation and Amortization (D&A)		 1.95 1.10 1.25 2.33 -0.26 0.20 0.44 1.07 -1.32 -0.53 -0.62
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($6.00) $7.70 ($0.95) $1.00 ($3.92) $2.24 $0.24 ($1.05) $1.22 ($0.95) $0.32
Adjusted Weighted Average Basic Shares Outstanding		 24.65M 4.72M 36.92M 39.74M 46.51M 43.05M 48.77M 48.77M 51.65M 52.16M 75.22M
Adjusted Diluted Earnings per Share		 ($6.00) $7.70 ($0.95) $1.00 ($3.92) $2.24 $0.24 ($1.05) $1.21 ($0.95) $0.32
Adjusted Weighted Average Diluted Shares Outstanding		 24.65M 4.72M 36.92M 40.08M 46.51M 43.05M 48.99M 48.77M 51.83M 52.16M 75.38M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $7.70 $0.00 $0.00 $0.00 $2.24 $0.00 $0.00 $0.00 ($0.95) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.43M 38.55M 39.10M 45.66M 49.00M 48.75M 48.75M 48.77M 55.76M 76.41M 81.75M
Normalized Net Operating Profit after Tax (NOPAT)		 -98 33 -22 30 -127 66 10 -34 46 -33 19
Normalized NOPAT Margin		 0.00% 52.62% 0.00% 54.04% 0.00% 60.68% 27.76% 0.00% 59.14% 0.00% 45.42%
Pre Tax Income Margin		 0.00% 75.18% 0.00% 77.20% 0.00% 86.69% 39.66% 0.00% 84.49% 0.00% 64.88%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.16 0.77 -0.30 0.33 -1.21 0.67 0.11 -0.39 0.53 -0.33 0.20
NOPAT to Interest Expense		 -2.21 0.77 -0.21 0.33 -0.84 0.67 0.11 -0.28 0.53 -0.23 0.20
EBIT Less CapEx to Interest Expense		 -3.16 0.77 -0.30 0.33 -1.21 0.67 0.11 -0.39 0.53 -0.33 0.20
NOPAT Less CapEx to Interest Expense		 -2.21 0.77 -0.21 0.33 -0.84 0.67 0.11 -0.28 0.53 -0.23 0.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -50.60% -67.15% -90.99% -207.37% -166.34% -335.93% -959.15% -175.01% 135.94% -1,131.94% -11,514.89%
Augmented Payout Ratio		 -51.13% -70.49% -97.13% -220.77% -176.09% -350.56% -990.78% -179.33% 139.67% -1,141.28% -11,514.89%

Key Financial Trends

Armour Residential REIT (NYSE: ARR) has demonstrated significant financial volatility over the past few years as observed in the latest four years of quarterly data through Q1 2025. Below is a summary of key financial trends and metrics:

  • Q1 2025 Consolidated Net Income: ARR earned $27.3 million, a strong recovery from prior quarters' losses, reflecting improving profitability.
  • Revenue Growth Q1 2025: Total revenue reached $42.1 million after recovering from negative revenue in prior quarters, suggesting a rebound in core operations.
  • Net Interest Income Trend: Net interest income increased to $36.3 million in Q1 2025, up from more negative or low values in previous quarters, indicating better interest margin management.
  • Operating Cash Flow Improvement: Net cash from operating activities improved to $101.5 million in Q1 2025, signaling strong cash generation from core business activities.
  • Issuance of Common Equity: Strong equity issuance ($371.4 million in Q1 2025) shows ARR raising capital to support its strategic initiatives and balance sheet strength.
  • Dividend Policy: Consistently high cash dividends per share (approximately $0.72 in Q1 2025 versus higher in prior years) reflect a commitment to shareholder returns despite earnings volatility.
  • Assets under Management: ARR’s total assets increased from approximately $10 billion in mid-2023 to $15.5 billion in Q1 2025, driven largely by increases in trading account securities, indicating growth in portfolio size.
  • Use of Short-Term Debt: ARR's substantial reliance on short-term debt (about $12.5 billion in Q1 2025) exposes it to refinancing risks but aligns with its mREIT business model to leverage short-term funding.
  • Negative Unrealized Capital Gains Impact: Large negative net realized and unrealized capital losses in recent quarters (e.g., -$204 million in Q1 2025) have pressured revenues and contributed to earnings volatility.
  • Volatile Net Income History: ARR experienced significant net losses in multiple quarters over the past two years (e.g., Q3 2023 and parts of 2024), reflecting exposure to market swings and investment valuation changes.

Summary: Armour Residential REIT has faced marked volatility in earnings primarily due to fluctuations in net realized and unrealized capital gains/losses on its investment securities portfolio. However, recent quarters, especially Q1 2025, show signs of recovery with positive net income, improving interest income, and stronger operating cash flows. The firm continues to leverage short-term debt significantly and grow its asset base, supported by equity raises. Consistent dividend payments underscore a shareholder return focus despite earnings swings.

Retail investors should weigh ARR’s historically volatile earnings and reliance on capital market conditions against its ability to generate cash flow and maintain dividends. The improving trends in early 2025 suggest cautious optimism but also the need for close monitoring of market risks impacting ARR’s investment portfolio valuation.

08/29/25 01:08 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About ARMOUR Residential REIT's Financials

When does ARMOUR Residential REIT's fiscal year end?

According to the most recent income statement we have on file, ARMOUR Residential REIT's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has ARMOUR Residential REIT's net income changed over the last 10 years?

ARMOUR Residential REIT's net income appears to be on an upward trend, with a most recent value of -$14.39 million in 2024, falling from -$179.05 million in 2014. The previous period was -$67.92 million in 2023. See where experts think ARMOUR Residential REIT is headed by visiting ARMOUR Residential REIT's forecast page.

How has ARMOUR Residential REIT's revenue changed over the last 10 years?

Over the last 10 years, ARMOUR Residential REIT's total revenue changed from -$141.45 million in 2014 to $45.86 million in 2024, a change of -132.4%.

How much debt does ARMOUR Residential REIT have?

ARMOUR Residential REIT's total liabilities were at $12.19 billion at the end of 2024, a 10.1% increase from 2023, and a 16.2% decrease since 2014.

How much cash does ARMOUR Residential REIT have?

In the past 10 years, ARMOUR Residential REIT's cash and equivalents has ranged from $67.97 million in 2024 to $494.56 million in 2014, and is currently $67.97 million as of their latest financial filing in 2024.

How has ARMOUR Residential REIT's book value per share changed over the last 10 years?

Over the last 10 years, ARMOUR Residential REIT's book value per share changed from 4.90 in 2014 to 24.42 in 2024, a change of 398.7%.


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This page (NYSE:ARR) was last updated on 8/29/2025 by MarketBeat.com Staff
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