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Claros Mortgage Trust (CMTG) Financials

Claros Mortgage Trust logo
$1.23 +0.02 (+1.24%)
Closing price 10/2/2026 03:59 PM Eastern
Extended Trading
$1.23 0.00 (0.00%)
As of 10/2/2026 07:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Claros Mortgage Trust

Annual Income Statements for Claros Mortgage Trust

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 169 202 171 112 6.03 -221 -489
Consolidated Net Income / (Loss)		 174 206 170 112 6.03 -221 -489
Net Income / (Loss) Continuing Operations		 174 206 170 112 156 -8.65 -22
Total Pre-Tax Income 		174 206 170 112 155 -8.49 -21
Total Operating Income		 174 212 154 157 -76 -78 -75
Total Gross Profit		 250 274 263 287 78 87 103
Total Revenue		 250 274 263 287 78 87 103
Operating Revenue		 250 274 263 287 78 87 103
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 76 61 108 130 154 165 179
Selling, General & Admin Expense		 3.39 9.00 13 19 17 16 20
Depreciation Expense		 - 0.00 7.11 8.04 9.29 10 11
Other Operating Expenses / (Income)		 72 52 89 103 128 139 148
Total Other Income / (Expense), net		 0.00 -6.64 16 -45 231 69 54
Interest Expense		 - 0.00 0.00 -6.04 468 444 306
Interest & Investment Income		 - -6.00 8.96 -82 698 601 390
Other Income / (Expense), net		 0.00 -0.64 7.14 31 1.52 -88 -29
Other Gains / (Losses), net		 - - - - 0.59 -0.15 -0.12
Other Adjustments to Consolidated Net Income / (Loss)		 0.14 - - - -150 -213 -468
Basic Earnings per Share		 $1.51 $1.52 $1.27 $0.79 $0.02 ($1.60) ($3.49)
Weighted Average Basic Shares Outstanding		 111.46M 132.98M 134.54M 139.31M 138.62M 139.23M 140.15M
Diluted Earnings per Share		 $1.51 $1.52 $1.27 $0.79 $0.02 ($1.60) ($3.49)
Weighted Average Diluted Shares Outstanding		 111.46M 132.98M 134.54M 139.31M 138.62M 139.23M 140.15M
Weighted Average Basic & Diluted Shares Outstanding		 - - 139.69M 139.38M 138.75M 139.36M 140.22M

Quarterly Income Statements for Claros Mortgage Trust

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54 -255
Consolidated Net Income / (Loss)		 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54 -255
Net Income / (Loss) Continuing Operations		 34 -53 -12 -56 112 -79 -180 15 182 -54 -258
Total Pre-Tax Income 		34 -53 -12 -56 112 -79 -180 13 184 -54 -258
Total Operating Income		 35 20 23 23 -143 5.73 8.93 -17 -44 -17 -19
Total Gross Profit		 76 59 64 65 -101 43 52 29 8.11 30 30
Total Revenue		 76 59 64 65 -101 43 52 29 8.11 30 30
Operating Revenue		 76 59 64 65 -101 43 52 29 8.11 30 30
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 41 39 41 42 43 38 43 46 52 47 49
Selling, General & Admin Expense		 3.63 3.88 4.85 3.65 3.34 4.27 5.04 4.81 5.87 3.21 4.72
Depreciation Expense		 2.58 2.60 2.62 2.63 2.64 0.44 0.85 3.74 5.73 6.40 6.14
Other Operating Expenses / (Income)		 34 33 34 36 37 33 37 38 40 37 38
Total Other Income / (Expense), net		 -1.23 -72 -35 -79 255 -84 -189 30 228 -37 -239
Interest Expense		 1.84 3.24 1.09 0.26 440 0.55 0.00 72 145 5.90 0.00
Interest & Investment Income		 -5.29 -70 -34 -79 784 -41 -190 89 372 -31 -209
Other Income / (Expense), net		 5.89 0.87 0.23 0.20 -89 -43 0.51 13 0.51 0.00 -30
Basic Earnings per Share		 $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39) ($1.81)
Weighted Average Basic Shares Outstanding		 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M 141.42M
Diluted Earnings per Share		 $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39) ($1.81)
Weighted Average Diluted Shares Outstanding		 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M 141.42M
Weighted Average Basic & Diluted Shares Outstanding		 138.75M 138.75M 138.95M 139.36M 139.36M 139.36M 139.82M 140.22M 140.22M 140.22M 141.08M

Annual Cash Flow Statements for Claros Mortgage Trust

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 266 93 -97 14 -133 -81 57
Net Cash From Operating Activities		 130 140 214 111 111 85 -30
Net Cash From Continuing Operating Activities		 130 140 214 111 111 85 -30
Net Income / (Loss) Continuing Operations		 174 206 170 112 6.03 -221 -489
Consolidated Net Income / (Loss)		 174 206 170 112 6.03 -221 -489
Depreciation Expense		 0.00 0.00 7.11 8.04 9.29 10 11
Amortization Expense		 13 20 21 20 24 25 27
Non-Cash Adjustments To Reconcile Net Income		 -50 -86 10 -16 104 311 478
Changes in Operating Assets and Liabilities, net		 -7.84 1.13 4.26 -13 -31 -41 -57
Net Cash From Investing Activities		 -2,311 -209 -373 -773 -39 780 1,868
Net Cash From Continuing Investing Activities		 -2,311 -209 -373 -773 -39 780 1,868
Purchase of Property, Plant & Equipment		 0.00 0.00 0.00 -2.34 -2.09 -1.35 -2.72
Sale and/or Maturity of Investments		 343 151 48 132 187 637 332
Other Investing Activities, net		 -2,653 -360 -421 -903 -224 144 1,538
Net Cash From Financing Activities		 2,447 161 63 676 -205 -946 -1,780
Net Cash From Continuing Financing Activities		 2,447 161 63 676 -205 -946 -1,780
Repayment of Debt		 -192 -490 -1,795 -1,319 -1,023 -2,270 -2,447
Payment of Dividends		 -18 -28 -205 -208 -192 -121 0.00
Issuance of Debt		 2,296 817 1,998 2,248 1,028 1,465 696
Other Financing Activities, net		 -173 -208 -24 -24 -17 -21 -29
Cash Interest Paid		 119 132 159 228 466 439 313

Quarterly Cash Flow Statements for Claros Mortgage Trust

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -116 37 -82 -25 -11 15 79 128 -165 -60 -28
Net Cash From Operating Activities		 27 21 5.53 39 18 -36 -5.85 8.78 2.40 -6.48 -12
Net Cash From Continuing Operating Activities		 27 21 5.53 39 18 -36 -5.85 8.78 2.40 -6.48 -12
Net Income / (Loss) Continuing Operations		 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54 -255
Consolidated Net Income / (Loss)		 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54 -255
Depreciation Expense		 2.58 2.60 2.62 2.63 2.64 0.44 0.85 3.74 5.73 6.40 6.14
Amortization Expense		 5.76 5.66 6.10 7.07 6.49 6.52 5.83 7.04 7.69 8.02 7.16
Non-Cash Adjustments To Reconcile Net Income		 -6.01 65 26 101 121 58 196 8.88 215 56 238
Changes in Operating Assets and Liabilities, net		 -9.07 1.21 -17 -15 -11 -22 -27 -1.36 -6.70 -23 -8.18
Net Cash From Investing Activities		 -132 287 80 180 233 275 749 505 339 401 51
Net Cash From Continuing Investing Activities		 -132 287 80 180 233 275 749 505 339 401 51
Purchase of Property, Plant & Equipment		 -0.61 -0.47 -0.12 -0.14 -0.63 -0.05 -0.52 -0.91 -1.25 -2.26 -2.48
Sale and/or Maturity of Investments		 -0.76 262 174 - 201 101 201 1.55 28 198 -7.03
Other Investing Activities, net		 -130 25 -93 180 33 174 548 504 312 205 14
Net Cash From Financing Activities		 -11 -271 -168 -244 -262 -224 -664 -386 -507 -454 -67
Net Cash From Continuing Financing Activities		 -11 -271 -169 -244 -262 -224 -664 -386 -507 -454 -67
Repayment of Debt		 -266 -385 -1,078 -438 -369 -441 -1,107 -393 -507 -944 -67
Repurchase of Common Equity		 - - - - - 0.00 - - - -0.49 -0.01
Issuance of Debt		 292 155 948 239 123 223 453 15 5.72 511 0.95
Other Financing Activities, net		 -1.24 -6.49 -2.66 -9.29 -2.62 -5.71 -10.00 -7.63 -5.48 -21 -1.23
Cash Interest Paid		 120 117 116 109 97 92 85 73 63 54 49

Annual Balance Sheets for Claros Mortgage Trust

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 6,953 7,455 8,242 8,069 6,967 4,722
Total Current Assets		 6,553 6,650 178 44 -144 -266
Cash & Equivalents		 428 310 306 187 99 173
Other Current Assets		 - - -129 -143 - -439
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 399 805 8,064 8,025 7,111 4,987
Long-Term Investments		 - 0.00 42 42 42 42
Noncurrent Note & Lease Receivables		 338 162 7,489 7,282 6,467 4,054
Other Noncurrent Operating Assets		 61 643 533 700 601 891
Total Liabilities & Shareholders' Equity		 6,953 7,455 8,242 8,069 6,967 4,722
Total Liabilities		 4,330 4,851 5,785 5,769 4,959 3,190
Total Current Liabilities		 5.16 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Liabilities		 4,325 4,851 5,785 5,769 4,959 3,190
Long-Term Debt		 1,566 956 1,150 1,116 947 727
Other Noncurrent Operating Liabilities		 2,759 3,895 4,635 4,653 4,012 2,463
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,481 2,604 2,456 2,300 2,008 1,532
Total Preferred & Common Equity		 2,446 2,567 0.00 0.00 0.00 1,532
Total Common Equity		 3,593 2,567 2,456 2,300 2,008 1,532
Common Stock		 2,493 2,728 2,714 2,727 2,741 2,754
Retained Earnings		 526 -161 -257 -427 -733 -1,222

Quarterly Balance Sheets for Claros Mortgage Trust

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

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 8,484 8,401 8,048 7,756 7,585 7,308 6,656 5,823 5,442 4,164 3,835
Total Current Assets		 299 149 166 61 -56 -115 -110 -117 38 -280 -475
Cash & Equivalents		 427 253 307 233 148 114 128 209 340 117 90
Other Current Assets		 -128 -104 -142 -171 -204 - -237 -326 -302 -396 -566
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 8,186 8,251 7,883 7,695 7,640 7,423 6,766 5,940 5,404 4,444 4,311
Long-Term Investments		 43 43 43 42 42 42 42 42 42 42 42
Noncurrent Note & Lease Receivables		 7,611 7,520 7,155 6,979 6,913 6,696 5,976 5,208 4,515 3,504 3,356
Other Noncurrent Operating Assets		 531 689 685 673 684 685 747 690 847 898 913
Total Liabilities & Shareholders' Equity		 8,484 8,401 8,048 7,756 7,585 7,308 6,656 5,823 5,442 4,164 3,835
Total Liabilities		 6,040 6,000 5,752 5,540 5,413 5,204 4,722 4,066 3,693 2,672 2,597
Total Current Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Liabilities		 6,040 6,000 5,752 5,540 5,413 5,204 4,722 4,066 3,693 2,672 2,597
Long-Term Debt		 1,177 1,196 1,199 1,075 1,056 1,294 875 877 883 466 468
Other Noncurrent Operating Liabilities		 4,863 4,804 4,552 4,465 4,357 3,910 3,847 3,189 2,809 2,206 2,130
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		 2,444 2,400 2,297 2,216 2,171 2,104 1,935 1,757 1,749 1,493 1,238
Total Preferred & Common Equity		 0.00 0.00 0.00 0.00 2,171 2,104 1,935 1,757 1,749 1,493 1,238
Total Common Equity		 2,444 2,400 2,297 2,216 2,171 2,104 1,935 1,757 1,749 1,493 1,238
Common Stock		 2,717 2,722 2,722 2,731 2,734 2,737 2,747 2,751 2,752 2,770 2,770
Retained Earnings		 -273 -321 -425 -515 -562 -633 -812 -994 -1,003 -1,277 -1,532

Annual Metrics And Ratios for Claros Mortgage Trust

This table displays calculated financial ratios and metrics derived from Claros Mortgage Trust's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 133,433,487.00 - - - 140,218,764.00
DEI Adjusted Shares Outstanding		 0.00 0.00 133,433,487.00 - - - 140,218,764.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 1.28 - - - -3.49
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 9.65% -4.04% 9.34% 6.74% -71.51% 18.27%
EBITDA Growth		 0.00% 23.49% -17.92% 14.03% -9.91% -166.46% 48.54%
EBIT Growth		 0.00% 21.72% -23.74% 16.45% -13.80% -202.08% 36.81%
NOPAT Growth		 0.00% 22.08% -27.33% 2.02% -3.93% -135.93% 2.99%
Net Income Growth		 0.00% 18.17% -17.15% -34.18% -94.63% -3,771.23% -121.03%
EPS Growth		 0.00% 0.66% -16.45% -37.80% -97.47% -8,100.00% -118.13%
Operating Cash Flow Growth		 0.00% 8.45% 52.00% -48.01% 0.10% -23.95% -136.04%
Free Cash Flow Firm Growth		 0.00% 0.00% 118.76% -77.67% 49.97% 43.02% 124.87%
Invested Capital Growth		 0.00% 0.00% -13.60% 0.27% -2.20% -11.71% -27.36%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -1.43% 3.10% -66.93% 1,933.71%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -0.53% 6.69% -190.47% 74.36%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -1.06% 7.80% -252.83% 64.40%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.08% 46.29% -176.81% 56.92%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -26.12% 111.89% -155.73% -31.98%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -26.85% 105.13% -150.00% -31.70%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 12.88% -30.62% 7.01% -9.60% -109.65%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -36.50% 1,377.54% -17.48%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -4.00% 1.28% -13.22% -9.20%
Profitability Metrics		 - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 75.04% 84.51% 72.28% 75.38% 63.62% -148.38% -64.56%
Operating Margin		 69.67% 77.57% 58.74% 54.81% 49.33% -88.87% -72.89%
EBIT Margin		 69.67% 77.33% 61.46% 65.46% 52.86% -189.38% -101.18%
Profit (Net Income) Margin		 69.73% 75.14% 64.87% 39.05% 1.97% -253.31% -473.39%
Tax Burden Percent		 100.08% 100.00% 100.00% 100.00% 100.00% 2,605.88% 2,285.16%
Interest Burden Percent		 100.00% 97.17% 105.55% 59.66% 3.72% 5.13% 20.48%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 11.29% 4.40% 4.84% 4.69% -1.81% -2.17%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 10.12% 6.21% -1.42% -12.51% -21.54% -68.45%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 4.40% 2.12% -0.41% -4.44% -8.46% -25.46%
Return on Equity (ROE)		 0.00% 15.69% 6.52% 4.43% 0.25% -10.27% -27.63%
Cash Return on Invested Capital (CROIC)		 0.00% -188.71% 18.99% 4.57% 6.92% 10.63% 29.53%
Operating Return on Assets (OROA)		 0.00% 3.04% 2.24% 2.40% 1.99% -2.20% -1.79%
Return on Assets (ROA)		 0.00% 2.96% 2.37% 1.43% 0.07% -2.94% -8.37%
Return on Common Equity (ROCE)		 0.00% 21.49% 7.68% 4.40% 0.25% -10.27% -27.63%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.41% 6.64% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 174 212 154 157 151 -54 -53
NOPAT Margin		 69.67% 77.57% 58.74% 54.81% 49.33% -62.21% -51.02%
Net Nonoperating Expense Percent (NNEP)		 0.00% 1.17% -1.81% 6.25% 17.20% 19.73% 66.27%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 4.36% 4.43% -1.84% -2.33%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 1.36% 3.29% 4.79% 6.51% 5.42% 17.98% 19.35%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 30.33% 22.43% 41.26% 45.19% 50.67% 188.87% 172.89%
Earnings before Interest and Taxes (EBIT)		 174 212 161 188 162 -165 -105
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 187 231 190 216 195 -130 -67
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.03 0.66 0.70 0.77 0.31 0.28
Price to Tangible Book Value (P/TBV)		 0.00 0.03 0.66 0.70 0.77 0.31 0.28
Price to Revenue (P/Rev)		 0.41 0.38 6.44 5.95 5.74 7.21 4.15
Price to Earnings (P/E)		 0.61 0.51 9.92 15.24 292.14 0.00 0.00
Dividend Yield		 0.00% 0.00% 2.92% 11.99% 9.77% 18.81% 0.00%
Earnings Yield		 163.75% 196.41% 10.08% 6.56% 0.34% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.38 0.73 0.77 0.83 0.51 0.46
Enterprise Value to Revenue (EV/Rev)		 0.00 5.18 9.04 8.74 8.64 16.43 9.11
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 6.13 12.51 11.59 13.57 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 6.70 14.71 13.35 16.34 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 6.68 15.39 15.95 17.51 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 10.10 11.12 22.61 23.82 16.98 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 3.57 16.88 11.87 4.50 1.31
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.60 0.37 0.47 0.49 0.47 0.47
Long-Term Debt to Equity		 0.00 0.60 0.37 0.47 0.49 0.47 0.47
Financial Leverage		 0.00 0.43 0.34 0.29 0.36 0.39 0.37
Leverage Ratio		 0.00 2.65 2.76 3.10 3.43 3.49 3.30
Compound Leverage Factor		 0.00 2.58 2.91 1.85 0.13 0.18 0.68
Debt to Total Capital		 0.00% 37.39% 26.84% 31.89% 32.68% 32.04% 32.18%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 37.39% 26.84% 31.89% 32.68% 32.04% 32.18%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 4.22% 1.06% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 85.78% 72.10% 68.11% 67.32% 67.96% 67.82%
Debt to EBITDA		 0.00 6.77 5.03 5.31 5.72 -7.30 -10.90
Net Debt to EBITDA		 0.00 4.92 3.40 3.70 4.55 -6.21 -7.67
Long-Term Debt to EBITDA		 0.00 6.77 5.03 5.31 5.72 -7.30 -10.90
Debt to NOPAT		 0.00 7.38 6.19 7.31 7.38 -17.42 -13.79
Net Debt to NOPAT		 0.00 5.36 4.18 5.09 5.86 -14.82 -9.71
Long-Term Debt to NOPAT		 0.00 7.38 6.19 7.31 7.38 -17.42 -13.79
Altman Z-Score		 0.00 1.39 1.36 0.27 0.22 -0.16 -0.40
Noncontrolling Interest Sharing Ratio		 0.00% -37.01% -17.85% 0.74% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 1,269.04 0.00 0.00 0.00 0.00 0.00
Quick Ratio		 0.00 1,269.04 0.00 0.00 0.00 0.00 0.00
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3,549 666 149 223 319 717
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 4,738.71% 5,310.08% 6,265.16% -1,119.03%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 75.84 0.72 2.34
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 37.80 0.19 -0.10
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 37.09 0.19 -0.11
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.04 0.04 0.04 0.04 0.01 0.02
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 3,761 3,250 3,258 3,187 2,813 2,043
Invested Capital Turnover		 0.00 0.15 0.07 0.09 0.10 0.03 0.04
Increase / (Decrease) in Invested Capital		 0.00 3,761 -511 8.73 -72 -373 -770
Enterprise Value (EV)		 0.00 1,418 2,375 2,510 2,647 1,435 941
Market Capitalization		 103 103 1,692 1,708 1,761 630 429
Book Value per Share		 $0.00 $27.02 $19.24 $17.75 $16.58 $14.41 $10.93
Tangible Book Value per Share		 $0.00 $27.02 $19.24 $17.75 $16.58 $14.41 $10.93
Total Capital		 0.00 4,188 3,560 3,607 3,416 2,955 2,259
Total Debt		 0.00 1,566 956 1,150 1,116 947 727
Total Long-Term Debt		 0.00 1,566 956 1,150 1,116 947 727
Net Debt		 0.00 1,139 645 802 887 805 512
Capital Expenditures (CapEx)		 0.00 0.00 0.00 2.34 2.09 1.35 2.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 6,121 6,340 -129 -143 -243 -439
Debt-free Net Working Capital (DFNWC)		 0.00 6,548 6,650 178 44 -144 -266
Net Working Capital (NWC)		 0.00 6,548 6,650 178 44 -144 -266
Net Nonoperating Expense (NNE)		 -0.14 6.64 -16 45 145 167 436
Net Nonoperating Obligations (NNO)		 0.00 1,139 645 802 887 805 512
Total Depreciation and Amortization (D&A)		 13 20 28 28 33 36 38
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 2,236.20% 2,413.90% -44.79% -46.63% -278.23% -424.69%
Debt-free Net Working Capital to Revenue		 0.00% 2,392.39% 2,532.00% 61.91% 14.47% -164.80% -257.05%
Net Working Capital to Revenue		 0.00% 2,392.39% 2,532.00% 61.91% 14.47% -164.80% -257.05%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.27 $0.79 $0.02 ($1.60) ($3.49)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 134.54M 139.31M 138.62M 139.23M 140.15M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.27 $0.79 $0.02 ($1.60) ($3.49)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 134.54M 139.31M 138.62M 139.23M 140.15M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 139.69M 139.38M 138.75M 139.36M 140.22M
Normalized Net Operating Profit after Tax (NOPAT)		 122 149 108 110 106 -54 -53
Normalized NOPAT Margin		 48.77% 54.30% 41.12% 38.36% 34.53% -62.21% -51.02%
Pre Tax Income Margin		 69.67% 75.14% 64.87% 39.05% 1.97% -9.72% -20.72%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 55.12 -0.37 -0.34
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 51.43 -0.12 -0.17
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 54.41 -0.38 -0.35
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 50.72 -0.13 -0.18
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 10.38% 13.61% 120.28% 185.54% 3,188.30% -54.54% 0.00%
Augmented Payout Ratio		 13.16% 14.08% 130.06% 204.88% 3,188.30% -54.54% 0.00%

Quarterly Metrics And Ratios for Claros Mortgage Trust

This table displays calculated financial ratios and metrics derived from Claros Mortgage Trust's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 139,362,657.00 139,362,657.00 139,822,001.00 140,218,764.00 140,218,764.00 140,218,764.00
DEI Adjusted Shares Outstanding		 - - - - - 139,362,657.00 139,362,657.00 139,822,001.00 140,218,764.00 140,218,764.00 140,218,764.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.56 -1.30 -0.07 -1.56 -0.39 -1.82
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.82% -14.87% -20.31% -19.46% -232.73% -26.26% -19.93% -55.29% 108.04% -31.94% -42.45%
EBITDA Growth		 32.78% -30.51% -38.91% -36.21% -551.15% -204.22% -51.58% -80.35% 86.58% 91.42% -320.44%
EBIT Growth		 39.81% -38.58% -47.37% -46.15% -664.76% -280.35% -62.01% -118.74% 81.33% 53.93% -617.03%
NOPAT Growth		 58.83% -57.30% -62.25% -43.64% -506.57% -70.75% -61.63% -207.44% 69.38% -396.60% -315.14%
Net Income Growth		 250.28% -243.94% -371.67% 18.46% -395.80% -48.92% -1,472.68% 83.05% -117.69% 30.94% -40.57%
EPS Growth		 241.18% -250.00% -550.00% 20.00% -400.00% -43.59% -1,344.44% 82.50% -116.67% 30.36% -39.23%
Operating Cash Flow Growth		 36.36% 10.16% -75.34% -6.56% -32.87% -266.53% -205.85% -77.60% -86.92% 81.90% -106.75%
Free Cash Flow Firm Growth		 694.02% 123.70% 1,585.34% -128.84% 114.73% 155.15% 135.06% 1,322.95% 215.85% 117.49% 20.64%
Invested Capital Growth		 -2.20% -4.30% -8.01% 3.04% -11.71% -12.49% -21.53% -30.58% -27.36% -31.81% -33.98%
Revenue Q/Q Growth		 -5.69% 223.48% 9.63% 0.60% -255.43% 143.01% 254.52% -43.82% -72.06% 264.16% 0.66%
EBITDA Q/Q Growth		 -3.76% -27.24% 12.30% 1.82% -780.60% 86.61% 126.55% -58.67% -564.76% 91.44% -1,284.84%
EBIT Q/Q Growth		 -4.14% -34.28% 15.00% -1.64% -1,105.43% 84.14% 113.59% -148.51% -901.55% 60.86% -187.53%
NOPAT Q/Q Growth		 23.88% -37.31% 18.92% -1.52% -993.61% 102.80% 138.69% -375.77% -154.67% 72.92% -13.13%
Net Income Q/Q Growth		 149.38% -255.08% 78.12% -386.57% -79.12% 21.92% -131.11% 94.76% -2,200.70% 75.23% -370.46%
EPS Q/Q Growth		 148.00% -262.50% 76.92% -344.44% -80.00% 22.22% -132.14% 94.62% -2,128.57% 75.00% -364.10%
Operating Cash Flow Q/Q Growth		 -34.87% -21.30% -74.29% 609.05% -53.21% -295.24% 83.66% 250.05% -72.67% -370.14% -86.65%
Free Cash Flow Firm Q/Q Growth		 -61.25% -30.34% 88.27% -128.37% 388.53% 65.58% 83.15% 47.58% -25.48% 14.02% -3.80%
Invested Capital Q/Q Growth		 1.28% -1.65% 0.70% 6.75% -13.22% -6.19% -9.70% -5.56% -9.20% -11.94% -12.57%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 65.17% 48.79% 49.98% 50.59% 0.00% -68.97% 30.23% 22.23% -369.81% -8.69% -119.59%
Operating Margin		 46.43% 33.28% 36.10% 35.34% 0.00% 13.20% 17.30% -59.44% -541.71% -57.54% -64.67%
EBIT Margin		 54.19% 34.75% 36.46% 35.64% 0.00% -85.00% 17.30% -14.94% -535.37% -57.54% -164.37%
Profit (Net Income) Margin		 44.81% -89.75% -17.92% -86.65% 0.00% -181.26% -351.93% -32.85% -2,704.31% -183.93% -859.66%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% -89.85% 100.06% 100.62% -74.84% -119.19% 100.00% 99.11%
Interest Burden Percent		 82.69% -258.27% -49.15% -243.12% -48.21% 213.13% -2,021.73% -293.84% -423.79% 319.64% 527.70%
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)		 4.42% 2.24% 2.23% 2.05% 0.00% 0.24% 0.14% 0.00% -23.05% -1.62% -1.55%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.27% -6.59% -0.92% -5.23% 0.00% -10.75% -25.07% 0.00% -49.67% -10.01% -51.90%
Return on Net Nonoperating Assets (RNNOA)		 1.52% -2.13% -0.36% -2.36% 0.00% -3.90% -9.52% 0.00% -18.48% -2.95% -16.65%
Return on Equity (ROE)		 5.93% 0.11% 1.88% -0.31% 0.00% -3.66% -9.38% -19.24% -41.52% -4.58% -18.20%
Cash Return on Invested Capital (CROIC)		 6.92% 7.54% 10.97% -0.78% 10.63% 11.05% 20.65% 31.64% 29.53% 33.41% 36.47%
Operating Return on Assets (OROA)		 2.04% 1.27% 1.28% 1.23% 0.00% -0.85% 0.08% 0.00% -9.46% -0.95% -2.30%
Return on Assets (ROA)		 1.68% -3.27% -0.63% -2.98% 0.00% -1.81% -1.59% 0.00% -47.80% -3.04% -12.02%
Return on Common Equity (ROCE)		 5.93% 0.11% 1.88% -0.31% 0.00% -3.66% -9.38% -19.24% -41.52% -4.58% -18.20%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -4.57% -4.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 35 14 16 16 -143 4.01 6.25 -17 -44 -12 -13
NOPAT Margin		 46.43% 23.30% 25.27% 24.74% 0.00% 9.24% 12.11% -59.44% -541.71% -40.28% -45.27%
Net Nonoperating Expense Percent (NNEP)		 0.15% 8.83% 3.15% 7.27% -5.05% 10.99% 25.21% -0.94% 26.62% 8.39% 50.35%
Return On Investment Capital (ROIC_SIMPLE)		 1.03% - - - -4.85% 0.14% 0.24% -0.66% -1.94% -0.61% -0.79%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 4.77% 6.59% 7.51% 5.62% 0.00% 9.84% 9.75% 16.59% 72.40% 10.88% 15.89%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 53.57% 66.72% 63.90% 64.66% 0.00% 86.80% 82.70% 159.44% 641.71% 157.54% 164.67%
Earnings before Interest and Taxes (EBIT)		 41 20 24 23 -232 -37 8.93 -4.33 -43 -17 -49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 50 29 32 33 -223 -30 16 6.45 -30 -2.57 -36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.77 0.59 0.51 0.49 0.31 0.27 0.23 0.27 0.28 0.22 0.27
Price to Tangible Book Value (P/TBV)		 0.77 0.59 0.51 0.49 0.31 0.27 0.23 0.27 0.28 0.22 0.27
Price to Revenue (P/Rev)		 5.74 4.43 3.98 3.94 7.21 7.23 13.14 0.00 4.15 3.73 4.88
Price to Earnings (P/E)		 292.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 9.77% 11.84% 12.47% 11.35% 18.81% 22.79% 29.82% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.70 0.65 0.67 0.51 0.46 0.43 0.43 0.46 0.36 0.42
Enterprise Value to Revenue (EV/Rev)		 8.64 7.13 7.07 8.25 16.43 17.03 33.84 0.00 9.11 7.16 9.84
Enterprise Value to EBITDA (EV/EBITDA)		 13.57 11.58 12.22 15.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 16.34 14.15 15.45 20.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 17.51 21.75 23.79 30.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.82 18.67 20.55 23.30 16.98 44.94 64.46 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.87 9.08 5.69 0.00 4.50 3.92 1.83 1.11 1.31 0.86 0.92
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.49 0.49 0.49 0.62 0.47 0.45 0.50 0.51 0.47 0.31 0.38
Long-Term Debt to Equity		 0.49 0.49 0.49 0.62 0.47 0.45 0.50 0.51 0.47 0.31 0.38
Financial Leverage		 0.36 0.32 0.39 0.45 0.39 0.36 0.38 0.43 0.37 0.30 0.32
Leverage Ratio		 3.43 3.49 3.50 3.49 3.49 3.47 3.41 3.31 3.30 3.16 3.22
Compound Leverage Factor		 2.84 -9.00 -1.72 -8.48 -1.68 7.40 -69.00 -9.72 -13.99 10.09 17.02
Debt to Total Capital		 32.68% 32.66% 32.72% 38.09% 32.04% 31.13% 33.30% 33.56% 32.18% 23.77% 27.42%
Short-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%
Long-Term Debt to Total Capital		 32.68% 32.66% 32.72% 38.09% 32.04% 31.13% 33.30% 33.56% 32.18% 23.77% 27.42%
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		 67.32% 67.34% 67.28% 61.91% 67.96% 68.87% 66.70% 66.44% 67.82% 76.23% 72.58%
Debt to EBITDA		 5.72 5.89 6.52 9.03 -7.30 -4.65 -3.75 -3.40 -10.90 -11.83 -5.14
Net Debt to EBITDA		 4.55 4.38 5.35 7.94 -6.21 -3.74 -2.68 -1.93 -7.67 -7.79 -3.68
Long-Term Debt to EBITDA		 5.72 5.89 6.52 9.03 -7.30 -4.65 -3.75 -3.40 -10.90 -11.83 -5.14
Debt to NOPAT		 7.38 11.07 12.70 18.30 -17.42 -13.66 -9.31 -7.22 -13.79 -4.75 -5.30
Net Debt to NOPAT		 5.86 8.24 10.41 16.09 -14.82 -11.00 -6.64 -4.10 -9.71 -3.13 -3.80
Long-Term Debt to NOPAT		 7.38 11.07 12.70 18.30 -17.42 -13.66 -9.31 -7.22 -13.79 -4.75 -5.30
Altman Z-Score		 0.17 0.11 0.06 0.03 -0.19 -0.13 -0.19 -0.18 -0.36 -0.43 -0.66
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		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Quick Ratio		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 107 149 281 -80 230 381 660 974 726 828 796
Operating Cash Flow to CapEx		 4,505.78% 4,621.08% 4,762.93% 29,018.52% 2,895.58% -73,030.61% -1,126.78% 967.48% 192.30% -286.13% -486.95%
Free Cash Flow to Firm to Interest Expense		 58.33 46.01 256.91 -145.09 0.52 695.71 0.00 13.56 5.01 140.33 0.00
Operating Cash Flow to Interest Expense		 14.88 6.63 5.05 71.36 0.04 -65.42 0.00 0.12 0.02 -1.10 0.00
Operating Cash Flow Less CapEx to Interest Expense		 14.55 6.48 4.95 71.11 0.04 -65.51 0.00 0.11 0.01 -1.48 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.03 0.01 0.01 0.00 0.00 0.02 0.02 0.01
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 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		 3,187 3,016 3,037 3,242 2,813 2,639 2,383 2,250 2,043 1,799 1,573
Invested Capital Turnover		 0.10 0.10 0.09 0.08 0.03 0.03 0.01 0.00 0.04 0.04 0.03
Increase / (Decrease) in Invested Capital		 -72 -135 -265 96 -373 -377 -654 -991 -770 -840 -810
Enterprise Value (EV)		 2,647 2,112 1,978 2,179 1,435 1,224 1,023 966 941 640 665
Market Capitalization		 1,761 1,312 1,113 1,041 630 520 397 464 429 334 330
Book Value per Share		 $16.58 $15.97 $15.65 $15.14 $14.41 $13.88 $12.61 $12.51 $10.93 $10.65 $8.83
Tangible Book Value per Share		 $16.58 $15.97 $15.65 $15.14 $14.41 $13.88 $12.61 $12.51 $10.93 $10.65 $8.83
Total Capital		 3,416 3,291 3,227 3,398 2,955 2,809 2,634 2,632 2,259 1,958 1,706
Total Debt		 1,116 1,075 1,056 1,294 947 875 877 883 727 466 468
Total Long-Term Debt		 1,116 1,075 1,056 1,294 947 875 877 883 727 466 468
Net Debt		 887 800 865 1,138 805 704 626 502 512 307 335
Capital Expenditures (CapEx)		 0.61 0.47 0.12 0.14 0.63 0.05 0.52 0.91 1.25 2.26 2.48
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -143 -171 -204 -229 -243 -237 -326 -302 -439 -396 -566
Debt-free Net Working Capital (DFNWC)		 44 61 -56 -115 -144 -110 -117 38 -266 -280 -475
Net Working Capital (NWC)		 44 61 -56 -115 -144 -110 -117 38 -266 -280 -475
Net Nonoperating Expense (NNE)		 1.23 66 28 72 -43 83 188 -7.71 175 42 242
Net Nonoperating Obligations (NNO)		 887 800 865 1,138 805 704 626 502 512 307 335
Total Depreciation and Amortization (D&A)		 8.34 8.26 8.72 9.70 9.13 6.95 6.67 11 13 14 13
Debt-free, Cash-free Net Working Capital to Revenue		 -46.63% -57.83% -72.81% -86.79% -278.23% -330.18% -1,078.49% 0.00% -424.69% -443.16% -837.41%
Debt-free Net Working Capital to Revenue		 14.47% 20.65% -19.85% -43.67% -164.80% -152.39% -386.54% 0.00% -257.05% -312.62% -703.66%
Net Working Capital to Revenue		 14.47% 20.65% -19.85% -43.67% -164.80% -152.39% -386.54% 0.00% -257.05% -312.62% -703.66%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39) ($1.81)
Adjusted Weighted Average Basic Shares Outstanding		 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M 141.42M
Adjusted Diluted Earnings per Share		 $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39) ($1.81)
Adjusted Weighted Average Diluted Shares Outstanding		 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M 141.42M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 138.75M 138.75M 138.95M 139.36M 139.36M 139.36M 139.82M 140.22M 140.22M 140.22M 141.08M
Normalized Net Operating Profit after Tax (NOPAT)		 25 14 16 16 -100 4.01 6.25 -12 -31 -12 -13
Normalized NOPAT Margin		 32.50% 23.30% 25.27% 24.74% 0.00% 9.24% 12.11% -41.61% -379.20% -40.28% -45.27%
Pre Tax Income Margin		 44.81% -89.75% -17.92% -86.65% 0.00% -181.15% -349.75% 43.89% 2,268.81% -183.93% -867.37%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 22.43 6.31 21.51 42.12 -0.53 -67.40 0.00 -0.06 -0.30 -2.88 0.00
NOPAT to Interest Expense		 19.22 4.23 14.91 29.23 -0.33 7.33 0.00 -0.24 -0.30 -2.02 0.00
EBIT Less CapEx to Interest Expense		 22.10 6.16 21.40 41.87 -0.53 -67.49 0.00 -0.07 -0.31 -3.26 0.00
NOPAT Less CapEx to Interest Expense		 18.89 4.08 14.80 28.99 -0.33 7.24 0.00 -0.25 -0.31 -2.40 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 3,188.30% -210.30% -159.90% -163.91% -54.54% 0.00% -11.92% -3.83% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 3,188.30% -210.30% -159.90% -163.91% -54.54% 0.00% -11.92% -3.83% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Claros Mortgage Trust’s recent financial statements show a significantly smaller balance sheet, declining revenue, recurring net losses and persistent cash-flow pressure. The company’s results have also included substantial non-cash adjustments and restated periods, so investors should focus on recurring operating performance and liquidity rather than any single quarter.

  • Debt has declined materially. Long-term debt fell from approximately $1.18 billion in Q1 2023 to $467.7 million in Q2 2026. The company repaid $67.2 million of debt during Q2 2026 and $943.5 million during Q1 2026, indicating continued balance-sheet deleveraging.
  • Total liabilities have contracted. Liabilities decreased from approximately $6.04 billion in Q1 2023 to $2.60 billion in Q2 2026. This reduction may lower interest and refinancing risk over time, although it has occurred alongside a substantial decline in assets.
  • Q2 2026 revenue was modestly higher sequentially. Operating revenue increased to $29.7 million from $29.5 million in Q1 2026. This is a limited improvement, but it follows a sharp decline from $80.6 million in Q3 2023 and $51.6 million in Q2 2025.
  • Investing cash flow remained a source of liquidity. Claros generated $51.4 million of investing cash flow in Q2 2026, primarily from other investing activities and investment transactions. Similar asset-sale activity helped produce positive investing cash flow in several earlier quarters.
  • The balance sheet has been shrinking rapidly. Total assets fell from approximately $8.48 billion in Q1 2023 to $3.84 billion in Q2 2026. Noncurrent note and lease receivables declined from $7.61 billion to $3.36 billion over the same period. This may reflect portfolio runoff or asset dispositions, but it also reduces the company’s future earning-asset base.
  • Equity remains positive but has weakened. Total common equity was $1.24 billion in Q2 2026, down from $2.44 billion in Q1 2023. The company has retained positive book equity, but continued losses could further erode this cushion.
  • Reported results contain large non-cash items and restatements. Q2 2026 included $238.2 million of non-cash adjustments, while several 2024 and 2025 income statements were marked as restated. These factors make reported net income and quarter-to-quarter comparisons more difficult to interpret.
  • Asset sales have supported cash needs. Positive investing cash flow has frequently come from sales or maturities of investments and other investing activities rather than from internally generated operating cash. Investors should determine whether these proceeds are recurring or represent portfolio liquidation.
  • Net losses have become severe and recurring. Claros reported a net loss attributable to common shareholders of $255.4 million in Q2 2026, compared with losses of $54.3 million in Q1 2026, $219.2 million in Q4 2025 and $9.5 million in Q3 2025. Q2 2026 diluted EPS was negative $1.81.
  • Operating performance remains unprofitable. Operating revenue of $29.7 million was more than offset by $48.9 million of operating expenses, producing a $19.2 million operating loss in Q2 2026. Operating losses were also recorded in Q1 2026, Q4 2025 and Q3 2025.
  • Revenue has deteriorated over the observed period. Quarterly operating revenue declined from $80.6 million in Q3 2023 to $64.9 million in Q3 2024, $29.0 million in Q3 2025 and $29.7 million in Q2 2026. The trend suggests a materially reduced earnings base.
  • Operating cash flow has turned negative in recent quarters. Net cash from operating activities was negative $6.5 million in Q1 2025, negative $5.8 million in Q2 2025, negative $6.5 million in Q1 2026 and negative $12.1 million in Q2 2026. This indicates that reported earnings are not translating into reliable operating cash generation.
  • Cash reserves are being depleted. Cash and equivalents fell to $90.3 million at June 30, 2026, from $116.8 million at March 31, 2026 and $339.5 million at September 30, 2025. Q2 2026 ended with a $28.2 million decline in cash, after debt repayments and other financing outflows.
  • Interest and financing costs remain a significant burden. Claros paid $49.1 million of cash interest in Q2 2026 and $54.2 million in Q1 2026. These payments are substantial relative to quarterly revenue and operating cash flow, limiting financial flexibility.
10/03/26 04:30 PM ETAI Generated. May Contain Errors.

Claros Mortgage Trust Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Claros Mortgage Trust's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Claros Mortgage Trust's net income appears to be on a downward trend, with a most recent value of -$489.07 million in 2025, compared with $174.05 million in 2019. The previous period was -$221.27 million in 2024. See where experts think Claros Mortgage Trust is headed by visiting Claros Mortgage Trust's forecast page.

Claros Mortgage Trust's total operating income in 2025 was -$75.31 million, based on the following breakdown:
  • Total Gross Profit: $103.31 million
  • Total Operating Expenses: $178.62 million

Over the last 6 years, Claros Mortgage Trust's total revenue changed from $249.61 million in 2019 to $103.31 million in 2025, a change of -58.6%.

In the past 13 quarters, Claros Mortgage Trust's cash and equivalents has ranged from $90.33 million in Q2 2026 to $426.50 million in Q1 2023, and is currently $90.33 million as of their latest financial filing in Q2 2026.

Claros Mortgage Trust had total debt of $726.97 million at the end of 2025, a 23.2% decrease from 2024, and none in 2019.

Over the last 6 years, Claros Mortgage Trust's book value per share changed from 0.00 in 2019 to 10.93 in 2025, a change of 1,092.5%.


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Financial statements for NYSE:CMTG last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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