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Claros Mortgage Trust (CMTG) Financials

Claros Mortgage Trust logo
$2.22 -0.01 (-0.22%)
Closing price 03:59 PM Eastern
Extended Trading
$2.24 +0.02 (+0.67%)
As of 06:18 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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -69 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54
Consolidated Net Income / (Loss)		 -69 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54
Net Income / (Loss) Continuing Operations		 -69 34 -53 -12 -56 112 -79 -181 15 182 -54
Total Pre-Tax Income 		-69 34 -53 -12 -56 112 -79 -181 13 184 -54
Total Operating Income		 41 35 20 23 23 -143 5.73 8.93 -17 -44 -17
Total Gross Profit		 81 76 59 64 65 -101 43 52 29 8.11 30
Total Revenue		 81 76 59 64 65 -101 43 52 29 8.11 30
Operating Revenue		 81 76 59 64 65 -101 43 52 29 8.11 30
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 40 41 39 41 42 43 38 43 46 52 47
Selling, General & Admin Expense		 3.57 3.63 3.88 4.85 3.65 3.34 4.27 5.04 4.81 5.87 3.21
Depreciation Expense		 2.56 2.58 2.60 2.62 2.63 2.64 0.44 0.85 3.74 5.73 6.40
Other Operating Expenses / (Income)		 34 34 33 34 36 37 33 37 38 40 37
Total Other Income / (Expense), net		 -110 -1.23 -72 -35 -79 255 -84 -190 30 228 -37
Interest Expense		 1.66 1.84 3.24 1.09 0.26 440 0.55 0.00 72 145 5.90
Interest & Investment Income		 -110 -5.29 -70 -34 -79 784 -41 -190 89 372 -31
Other Income / (Expense), net		 2.27 5.89 0.87 0.23 0.20 -89 -43 0.00 13 0.51 0.00
Basic Earnings per Share		 ($0.50) $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39)
Weighted Average Basic Shares Outstanding		 138.90M 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M
Diluted Earnings per Share		 ($0.50) $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39)
Weighted Average Diluted Shares Outstanding		 138.90M 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M
Weighted Average Basic & Diluted Shares Outstanding		 138.73M 138.75M 138.75M 138.95M 139.36M 139.36M 139.36M 139.82M 140.22M 140.22M 140.22M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 45 -116 37 -82 -25 -11 15 79 128 -165 -60
Net Cash From Operating Activities		 42 27 21 5.53 39 18 -36 -5.85 8.78 2.40 -6.48
Net Cash From Continuing Operating Activities		 42 27 21 5.53 39 18 -36 -5.85 8.78 2.40 -6.48
Net Income / (Loss) Continuing Operations		 -69 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54
Consolidated Net Income / (Loss)		 -69 34 -53 -12 -56 -101 -79 -182 -9.53 -219 -54
Depreciation Expense		 2.56 2.58 2.60 2.62 2.63 2.64 0.44 0.85 3.74 5.73 6.40
Amortization Expense		 5.95 5.76 5.66 6.10 7.07 6.49 6.52 5.83 7.04 7.69 8.02
Non-Cash Adjustments To Reconcile Net Income		 113 -6.01 65 26 101 121 58 196 8.88 215 56
Changes in Operating Assets and Liabilities, net		 -10 -9.07 1.21 -17 -15 -11 -22 -27 -1.36 -6.70 -23
Net Cash From Investing Activities		 297 -132 287 80 180 233 275 749 505 339 401
Net Cash From Continuing Investing Activities		 297 -132 287 80 180 233 275 749 505 339 401
Purchase of Property, Plant & Equipment		 -0.43 -0.61 -0.47 -0.12 -0.14 -0.63 -0.05 -0.52 -0.91 -1.25 -2.26
Sale and/or Maturity of Investments		 187 -0.76 262 174 - 201 101 201 1.55 28 198
Other Investing Activities, net		 110 -130 25 -93 180 33 174 548 504 312 205
Net Cash From Financing Activities		 -293 -11 -271 -168 -244 -262 -224 -664 -386 -507 -454
Net Cash From Continuing Financing Activities		 -293 -11 -271 -169 -244 -262 -224 -664 -386 -507 -454
Repayment of Debt		 -317 -266 -385 -1,078 -438 -369 -441 -1,107 -393 -507 -944
Repurchase of Common Equity		 - - - - - - 0.00 - - - -0.49
Issuance of Debt		 86 292 155 948 239 123 223 453 15 5.72 511
Other Financing Activities, net		 -10 -1.24 -6.49 -2.66 -9.29 -2.62 -5.71 -10.00 -7.63 -5.48 -21
Cash Interest Paid		 123 120 117 116 109 97 92 85 73 63 54

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
Inventories, net		 - - - - -243 -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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets		 8,058 8,484 8,401 8,048 7,756 7,585 7,308 6,656 5,823 5,442 4,164
Total Current Assets		 7,496 299 149 166 61 -56 -115 -110 -117 38 -280
Cash & Equivalents		 226 427 253 307 233 148 114 128 209 340 117
Other Current Assets		 - -128 -104 -142 -171 -204 - -237 -326 -302 -396
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		 562 8,186 8,251 7,883 7,695 7,640 7,423 6,766 5,940 5,404 4,444
Long-Term Investments		 41 43 43 43 42 42 42 42 42 42 42
Noncurrent Note & Lease Receivables		 0.00 7,611 7,520 7,155 6,979 6,913 6,696 5,976 5,208 4,515 3,504
Other Noncurrent Operating Assets		 521 531 689 685 673 684 685 747 690 847 898
Total Liabilities & Shareholders' Equity		 8,058 8,484 8,401 8,048 7,756 7,585 7,308 6,656 5,823 5,442 4,164
Total Liabilities		 5,523 6,040 6,000 5,752 5,540 5,413 5,204 4,722 4,066 3,693 2,672
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		 5,523 6,040 6,000 5,752 5,540 5,413 5,204 4,722 4,066 3,693 2,672
Long-Term Debt		 1,125 1,177 1,196 1,199 1,075 1,056 1,294 875 877 883 466
Other Noncurrent Operating Liabilities		 4,398 4,863 4,804 4,552 4,465 4,357 3,910 3,847 3,189 2,809 2,206
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		 2,535 2,444 2,400 2,297 2,216 2,171 2,104 1,935 1,757 1,749 1,493
Total Preferred & Common Equity		 2,535 0.00 0.00 0.00 0.00 2,171 2,104 1,935 1,757 1,749 1,493
Total Common Equity		 2,535 2,444 2,400 2,297 2,216 2,171 2,104 1,935 1,757 1,749 1,493
Common Stock		 2,718 2,717 2,722 2,722 2,731 2,734 2,737 2,747 2,751 2,752 2,770
Retained Earnings		 799 -273 -321 -425 -515 -562 -633 -812 -994 -1,003 -1,277

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - 139,362,657.00 139,362,657.00 139,822,001.00 140,218,764.00 140,218,764.00
DEI Adjusted Shares Outstanding		 - - - - - - 139,362,657.00 139,362,657.00 139,822,001.00 140,218,764.00 140,218,764.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -0.56 -1.30 -0.07 -1.56 -0.39
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -44.22% 13.82% -14.87% -20.31% -19.46% -232.73% -26.26% -19.93% -55.29% 108.04% -31.94%
EBITDA Growth		 -55.86% 32.78% -30.51% -38.91% -36.21% -551.15% -204.22% -51.58% -80.35% 86.58% 91.42%
EBIT Growth		 -60.71% 39.81% -38.58% -47.37% -46.15% -664.76% -280.35% -62.01% -118.74% 81.33% 53.93%
NOPAT Growth		 -73.27% 58.83% -57.30% -62.25% -43.64% -506.57% -70.75% -61.63% -207.44% 69.38% -396.60%
Net Income Growth		 -263.20% 250.28% -243.94% -371.67% 18.46% -395.80% -48.92% -1,472.68% 83.05% -117.69% 30.94%
EPS Growth		 -266.67% 241.18% -250.00% -550.00% 20.00% -400.00% -43.59% -1,344.44% 82.50% -116.67% 30.36%
Operating Cash Flow Growth		 121.99% 36.36% 10.16% -75.34% -6.56% -32.87% -266.53% -205.85% -77.60% -86.92% 81.90%
Free Cash Flow Firm Growth		 -89.22% 694.02% 123.70% 1,585.34% -128.84% 114.73% 155.15% 135.06% 1,322.95% 215.85% 117.49%
Invested Capital Growth		 -7.30% -2.20% -4.30% -8.01% 3.04% -11.71% -12.49% -21.53% -30.58% -27.36% -31.81%
Revenue Q/Q Growth		 -0.46% -5.69% 223.48% 9.63% 0.60% -255.43% 143.01% 254.52% -43.82% -72.06% 264.16%
EBITDA Q/Q Growth		 -2.50% -3.76% -27.24% 12.30% 1.82% -780.60% 86.61% 126.55% -58.67% -564.76% 91.44%
EBIT Q/Q Growth		 -3.86% -4.14% -34.28% 15.00% -1.64% -1,105.43% 84.14% 113.59% -148.51% -901.55% 60.86%
NOPAT Q/Q Growth		 -34.04% 23.88% -37.31% 18.92% -1.52% -993.61% 102.80% 138.69% -375.77% -154.67% 72.92%
Net Income Q/Q Growth		 -1,721.14% 149.38% -255.08% 78.12% -386.57% -79.12% 21.92% -131.11% 94.76% -2,200.70% 75.23%
EPS Q/Q Growth		 -2,600.00% 148.00% -262.50% 76.92% -344.44% -80.00% 22.22% -132.14% 94.62% -2,128.57% 75.00%
Operating Cash Flow Q/Q Growth		 87.14% -34.87% -21.30% -74.29% 609.05% -53.21% -295.24% 83.66% 250.05% -72.67% -370.14%
Free Cash Flow Firm Q/Q Growth		 1,561.11% -61.25% -30.34% 88.27% -128.37% 388.53% 65.58% 83.15% 47.58% -25.48% 14.02%
Invested Capital Q/Q Growth		 -4.70% 1.28% -1.65% 0.70% 6.75% -13.22% -6.19% -9.70% -5.56% -9.20% -11.94%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 63.87% 65.17% 48.79% 49.98% 50.59% 0.00% -68.97% 30.23% 22.23% -369.81% -8.69%
Operating Margin		 50.50% 46.43% 33.28% 36.10% 35.34% 0.00% 13.20% 17.30% -59.44% -541.71% -57.54%
EBIT Margin		 53.31% 54.19% 34.75% 36.46% 35.64% 0.00% -85.00% 17.30% -14.94% -535.37% -57.54%
Profit (Net Income) Margin		 -85.59% 44.81% -89.75% -17.92% -86.65% 0.00% -181.26% -351.93% -32.85% -2,704.31% -183.93%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% -89.85% 100.06% 100.62% -74.84% -119.19% 100.00%
Interest Burden Percent		 -160.55% 82.69% -258.27% -49.15% -243.12% -48.21% 213.13% -2,021.73% -293.84% -423.79% 319.64%
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)		 3.21% 4.42% 2.24% 2.23% 2.05% 0.00% 0.24% 0.14% 0.00% -23.05% -1.62%
ROIC Less NNEP Spread (ROIC-NNEP)		 -8.19% 4.27% -6.59% -0.92% -5.23% 0.00% -10.75% -25.07% 0.00% -49.67% -10.01%
Return on Net Nonoperating Assets (RNNOA)		 -2.90% 1.52% -2.13% -0.36% -2.36% 0.00% -3.90% -9.52% 0.00% -18.48% -2.95%
Return on Equity (ROE)		 0.32% 5.93% 0.11% 1.88% -0.31% 0.00% -3.66% -9.38% -19.24% -41.52% -4.58%
Cash Return on Invested Capital (CROIC)		 10.74% 6.92% 7.54% 10.97% -0.78% 10.63% 11.05% 20.65% 31.64% 29.53% 33.41%
Operating Return on Assets (OROA)		 1.97% 2.04% 1.27% 1.28% 1.23% 0.00% -0.85% 0.08% 0.00% -9.46% -0.95%
Return on Assets (ROA)		 -3.16% 1.68% -3.27% -0.63% -2.98% 0.00% -1.81% -1.59% 0.00% -47.80% -3.04%
Return on Common Equity (ROCE)		 0.32% 5.93% 0.11% 1.88% -0.31% 0.00% -3.66% -9.38% -19.24% -41.52% -4.58%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% -4.57% -4.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 28 35 14 16 16 -143 4.01 6.25 -17 -44 -12
NOPAT Margin		 35.35% 46.43% 23.30% 25.27% 24.74% 0.00% 9.24% 12.11% -59.44% -541.71% -40.28%
Net Nonoperating Expense Percent (NNEP)		 11.41% 0.15% 8.83% 3.15% 7.27% -5.05% 10.99% 25.21% -0.94% 26.62% 8.39%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.03% - - - -4.85% 0.14% 0.24% -0.66% -1.94% -0.61%
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		 4.43% 4.77% 6.59% 7.51% 5.62% 0.00% 9.84% 9.75% 16.59% 72.40% 10.88%
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		 49.50% 53.57% 66.72% 63.90% 64.66% 0.00% 86.80% 82.70% 159.44% 641.71% 157.54%
Earnings before Interest and Taxes (EBIT)		 43 41 20 24 23 -232 -37 8.93 -4.33 -43 -17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 51 50 29 32 33 -223 -30 16 6.45 -30 -2.57
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.61 0.77 0.59 0.51 0.49 0.31 0.27 0.23 0.27 0.28 0.22
Price to Tangible Book Value (P/TBV)		 0.61 0.77 0.59 0.51 0.49 0.31 0.27 0.23 0.27 0.28 0.22
Price to Revenue (P/Rev)		 4.72 5.74 4.43 3.98 3.94 7.21 7.23 13.14 0.00 4.15 3.73
Price to Earnings (P/E)		 0.00 292.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 13.41% 9.77% 11.84% 12.47% 11.35% 18.81% 22.79% 29.82% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.34% 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)		 0.72 0.83 0.70 0.65 0.67 0.51 0.46 0.43 0.43 0.46 0.36
Enterprise Value to Revenue (EV/Rev)		 7.58 8.64 7.13 7.07 8.25 16.43 17.03 33.84 0.00 9.11 7.16
Enterprise Value to EBITDA (EV/EBITDA)		 12.32 13.57 11.58 12.22 15.21 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.98 16.34 14.15 15.45 20.13 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 21.79 17.51 21.75 23.79 30.80 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.69 23.82 18.67 20.55 23.30 16.98 44.94 64.46 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.42 11.87 9.08 5.69 0.00 4.50 3.92 1.83 1.11 1.31 0.86
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.52 0.49 0.49 0.49 0.62 0.47 0.45 0.50 0.51 0.47 0.31
Long-Term Debt to Equity		 0.52 0.49 0.49 0.49 0.62 0.47 0.45 0.50 0.51 0.47 0.31
Financial Leverage		 0.35 0.36 0.32 0.39 0.45 0.39 0.36 0.38 0.43 0.37 0.30
Leverage Ratio		 3.33 3.43 3.49 3.50 3.49 3.49 3.47 3.41 3.31 3.30 3.16
Compound Leverage Factor		 -5.35 2.84 -9.00 -1.72 -8.48 -1.68 7.40 -69.00 -9.72 -13.99 10.09
Debt to Total Capital		 34.31% 32.68% 32.66% 32.72% 38.09% 32.04% 31.13% 33.30% 33.56% 32.18% 23.77%
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		 34.31% 32.68% 32.66% 32.72% 38.09% 32.04% 31.13% 33.30% 33.56% 32.18% 23.77%
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		 65.69% 67.32% 67.34% 67.28% 61.91% 67.96% 68.87% 66.70% 66.44% 67.82% 76.23%
Debt to EBITDA		 6.56 5.72 5.89 6.52 9.03 -7.30 -4.65 -3.75 -3.40 -10.90 -11.83
Net Debt to EBITDA		 4.65 4.55 4.38 5.35 7.94 -6.21 -3.74 -2.68 -1.93 -7.67 -7.79
Long-Term Debt to EBITDA		 6.56 5.72 5.89 6.52 9.03 -7.30 -4.65 -3.75 -3.40 -10.90 -11.83
Debt to NOPAT		 11.60 7.38 11.07 12.70 18.30 -17.42 -13.66 -9.31 -7.22 -13.79 -4.75
Net Debt to NOPAT		 8.22 5.86 8.24 10.41 16.09 -14.82 -11.00 -6.64 -4.10 -9.71 -3.13
Long-Term Debt to NOPAT		 11.60 7.38 11.07 12.70 18.30 -17.42 -13.66 -9.31 -7.22 -13.79 -4.75
Altman Z-Score		 0.15 0.17 0.11 0.06 0.03 -0.19 -0.13 -0.19 -0.18 -0.36 -0.43
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)		 276 107 149 281 -80 230 381 660 974 726 828
Operating Cash Flow to CapEx		 9,727.38% 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%
Free Cash Flow to Firm to Interest Expense		 166.50 58.33 46.01 256.91 -145.09 0.52 695.71 0.00 13.56 5.01 140.33
Operating Cash Flow to Interest Expense		 25.27 14.88 6.63 5.05 71.36 0.04 -65.42 0.00 0.12 0.02 -1.10
Operating Cash Flow Less CapEx to Interest Expense		 25.01 14.55 6.48 4.95 71.11 0.04 -65.51 0.00 0.11 0.01 -1.48
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.03 0.01 0.01 0.00 0.00 0.02 0.02
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		 3,146 3,187 3,016 3,037 3,242 2,813 2,639 2,383 2,250 2,043 1,799
Invested Capital Turnover		 0.09 0.10 0.10 0.09 0.08 0.03 0.03 0.01 0.00 0.04 0.04
Increase / (Decrease) in Invested Capital		 -248 -72 -135 -265 96 -373 -377 -654 -991 -770 -840
Enterprise Value (EV)		 2,253 2,647 2,112 1,978 2,179 1,435 1,224 1,023 966 941 640
Market Capitalization		 1,403 1,761 1,312 1,113 1,041 630 520 397 464 429 334
Book Value per Share		 $16.60 $16.58 $15.97 $15.65 $15.14 $14.41 $13.88 $12.61 $12.51 $10.93 $10.65
Tangible Book Value per Share		 $16.60 $16.58 $15.97 $15.65 $15.14 $14.41 $13.88 $12.61 $12.51 $10.93 $10.65
Total Capital		 3,496 3,416 3,291 3,227 3,398 2,955 2,809 2,634 2,632 2,259 1,958
Total Debt		 1,199 1,116 1,075 1,056 1,294 947 875 877 883 727 466
Total Long-Term Debt		 1,199 1,116 1,075 1,056 1,294 947 875 877 883 727 466
Net Debt		 849 887 800 865 1,138 805 704 626 502 512 307
Capital Expenditures (CapEx)		 0.43 0.61 0.47 0.12 0.14 0.63 0.05 0.52 0.91 1.25 2.26
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -142 -143 -171 -204 -229 -243 -237 -326 -302 -439 -396
Debt-free Net Working Capital (DFNWC)		 166 44 61 -56 -115 -144 -110 -117 38 -266 -280
Net Working Capital (NWC)		 166 44 61 -56 -115 -144 -110 -117 38 -266 -280
Net Nonoperating Expense (NNE)		 97 1.23 66 28 72 -43 83 188 -7.71 175 42
Net Nonoperating Obligations (NNO)		 849 887 800 865 1,138 805 704 626 502 512 307
Total Depreciation and Amortization (D&A)		 8.50 8.34 8.26 8.72 9.70 9.13 6.95 6.67 11 13 14
Debt-free, Cash-free Net Working Capital to Revenue		 -47.65% -46.63% -57.83% -72.81% -86.79% -278.23% -330.18% -1,078.49% 0.00% -424.69% -443.16%
Debt-free Net Working Capital to Revenue		 55.72% 14.47% 20.65% -19.85% -43.67% -164.80% -152.39% -386.54% 0.00% -257.05% -312.62%
Net Working Capital to Revenue		 55.72% 14.47% 20.65% -19.85% -43.67% -164.80% -152.39% -386.54% 0.00% -257.05% -312.62%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.50) $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39)
Adjusted Weighted Average Basic Shares Outstanding		 138.90M 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M
Adjusted Diluted Earnings per Share		 ($0.50) $0.24 ($0.39) ($0.09) ($0.40) ($0.72) ($0.56) ($1.30) ($0.07) ($1.56) ($0.39)
Adjusted Weighted Average Diluted Shares Outstanding		 138.90M 138.62M 138.79M 139.08M 139.56M 139.23M 139.48M 140.11M 140.56M 140.15M 140.46M
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		 138.73M 138.75M 138.75M 138.95M 139.36M 139.36M 139.36M 139.82M 140.22M 140.22M 140.22M
Normalized Net Operating Profit after Tax (NOPAT)		 28 25 14 16 16 -100 4.01 6.25 -12 -31 -12
Normalized NOPAT Margin		 35.35% 32.50% 23.30% 25.27% 24.74% 0.00% 9.24% 12.11% -41.61% -379.20% -40.28%
Pre Tax Income Margin		 -85.59% 44.81% -89.75% -17.92% -86.65% 0.00% -181.15% -349.75% 43.89% 2,268.81% -183.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 25.88 22.43 6.31 21.51 42.12 -0.53 -67.40 0.00 -0.06 -0.30 -2.88
NOPAT to Interest Expense		 17.16 19.22 4.23 14.91 29.23 -0.33 7.33 0.00 -0.24 -0.30 -2.02
EBIT Less CapEx to Interest Expense		 25.63 22.10 6.16 21.40 41.87 -0.53 -67.49 0.00 -0.07 -0.31 -3.26
NOPAT Less CapEx to Interest Expense		 16.90 18.89 4.08 14.80 28.99 -0.33 7.24 0.00 -0.25 -0.31 -2.40
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -412.58% 3,188.30% -210.30% -159.90% -163.91% -54.54% 0.00% -11.92% -3.83% 0.00% 0.00%
Augmented Payout Ratio		 -412.58% 3,188.30% -210.30% -159.90% -163.91% -54.54% 0.00% -11.92% -3.83% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Claros Mortgage Trust (NYSE: CMTG) has seen a dramatic deterioration in fundamentals over the last few years, with the latest quarter showing only partial stabilization after a very weak 2025. The company remains highly levered, profitability is inconsistent, and book equity has been pressured by recurring losses and balance sheet changes. While Q1 2026 showed a much smaller loss than late 2025, the broader trend still looks fragile.

  • Q1 2026 operating revenue improved slightly year over year, rising to $29.5 million from $29.0 million in Q3 2025 and above the very weak Q4 2025 level of $8.1 million.
  • Operating cash flow turned better in Q1 2026 than in the prior quarter, with net cash from operating activities at a negative $6.5 million versus positive $2.4 million in Q4 2025, but still far better than the deeply negative periods seen in early 2025.
  • Cash and equivalents increased sharply from the end of 2025, reaching $116.8 million versus $20.9 million at Q4 2025, suggesting the company entered 2026 with improved liquidity.
  • Total equity held up at $1.49 billion in Q1 2026, giving the company a meaningful equity cushion despite ongoing volatility.
  • Interest expense was materially lower in Q1 2026 at $5.9 million compared with $144.8 million in Q4 2025, reflecting a major normalization from the prior quarter’s unusually heavy interest burden.
  • Asset composition is dominated by noncurrent note and lease receivables, which totaled $3.50 billion in Q1 2026. For mortgage trusts, that concentration can support earnings when credit conditions are stable, but it also leaves the company exposed to valuation and credit-risk swings.
  • The balance sheet no longer shows current liabilities, which may indicate a simplified near-term working-capital profile, though the filing data also appears unusual in places and should be interpreted cautiously.
  • Share count has been relatively stable, with weighted average basic shares around 140.5 million in Q1 2026 versus 139.2 million in Q1 2025, so dilution has not been the primary issue recently.
  • Q1 2026 net loss was still substantial at $54.3 million, or $0.39 per share, showing the business is not yet consistently profitable.
  • Operating income remained negative in Q1 2026 at a loss of $17.0 million, meaning core operations still did not cover expenses.
  • Long-term debt remained significant at $465.6 million in Q1 2026, and the broader leverage burden remains a major risk for shareholders.
  • Retained earnings stayed deeply negative at $1.28 billion, underscoring years of accumulated losses.
  • The longer-term trend is clearly unfavorable: total assets fell from $8.49 billion in Q1 2023 to $4.16 billion in Q1 2026, while total liabilities have remained elevated relative to equity.
  • 2025 was especially weak, with Q4 2025 posting a $219.2 million net loss and Q2 2025 a $181.7 million loss, highlighting how volatile results can be quarter to quarter.

Bottom line: CMTG appears to have stabilized somewhat in early 2026, but the company is still operating with thin profitability, meaningful leverage, and a history of very uneven cash generation. Investors should view the latest quarter as a modest improvement, not yet a turnaround.

07/13/26 10:27 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 an upward trend, with a most recent value of -$489.07 million in 2025, falling from $174.05 million in 2019. The previous period was -$221.27 million in 2024. See Claros Mortgage Trust's forecast for analyst expectations on what's next for the company.

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%.

Claros Mortgage Trust's total liabilities were at $3.19 billion at the end of 2025, a 35.7% decrease from 2024, and a 26.3% decrease since 2020.

In the past 5 years, Claros Mortgage Trust's cash and equivalents has ranged from $99.08 million in 2024 to $427.51 million in 2020, and is currently $173.19 million as of their latest financial filing in 2025.

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 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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