Annual Income Statements for Ellington Credit
This table shows Ellington Credit's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Ellington Credit
This table shows Ellington Credit'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 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
-11 |
12 |
3.96 |
-0.82 |
5.45 |
-2.01 |
| Consolidated Net Income / (Loss) |
|
-11 |
12 |
3.96 |
-0.82 |
5.45 |
-2.01 |
| Net Income / (Loss) Continuing Operations |
|
-11 |
12 |
3.96 |
-0.82 |
5.45 |
-2.01 |
| Total Pre-Tax Income |
|
-11 |
12 |
4.26 |
-0.89 |
5.91 |
-2.19 |
| Total Revenue |
|
-10 |
14 |
5.89 |
1.27 |
8.63 |
0.08 |
| Net Interest Income / (Expense) |
|
-1.10 |
0.38 |
0.28 |
3.90 |
4.75 |
6.14 |
| Total Interest Income |
|
11 |
12 |
10 |
14 |
13 |
13 |
| Investment Securities Interest Income |
|
11 |
12 |
10 |
14 |
13 |
13 |
| Total Interest Expense |
|
12 |
12 |
10 |
10 |
7.75 |
6.71 |
| Long-Term Debt Interest Expense |
|
12 |
12 |
10 |
10 |
7.75 |
6.71 |
| Total Non-Interest Income |
|
-8.97 |
13 |
5.61 |
-2.62 |
3.88 |
-6.06 |
| Net Realized & Unrealized Capital Gains on Investments |
|
-8.97 |
13 |
5.61 |
-2.61 |
3.29 |
-4.82 |
| Total Non-Interest Expense |
|
1.36 |
1.37 |
1.63 |
2.16 |
2.73 |
2.27 |
| Salaries and Employee Benefits |
|
0.18 |
0.19 |
0.27 |
0.43 |
0.50 |
0.35 |
| Other Operating Expenses |
|
1.18 |
1.18 |
1.36 |
1.73 |
2.22 |
1.92 |
| Income Tax Expense |
|
0.00 |
- |
0.30 |
-0.08 |
0.46 |
-0.18 |
| Basic Earnings per Share |
|
($0.75) |
$0.80 |
$0.20 |
($0.04) |
$0.21 |
($0.09) |
| Weighted Average Basic Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
| Weighted Average Diluted Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
| Weighted Average Basic & Diluted Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
Annual Cash Flow Statements for Ellington Credit
This table details how cash moves in and out of Ellington Credit'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 |
| Net Change in Cash & Equivalents |
|
-4.88 |
-5.07 |
-6.66 |
23 |
-38 |
17 |
23 |
11 |
-34 |
3.72 |
-6.69 |
| Net Cash From Operating Activities |
|
21 |
25 |
20 |
34 |
29 |
18 |
24 |
28 |
22 |
-10 |
9.11 |
| Net Cash From Continuing Operating Activities |
|
22 |
53 |
53 |
37 |
29 |
18 |
24 |
28 |
22 |
-10 |
7.60 |
| Net Income / (Loss) Continuing Operations |
|
16 |
0.03 |
12 |
11 |
-11 |
22 |
20 |
-6.31 |
-30 |
4.56 |
6.59 |
| Consolidated Net Income / (Loss) |
|
16 |
0.03 |
12 |
11 |
-11 |
22 |
20 |
-6.31 |
-30 |
4.56 |
6.59 |
| Amortization Expense |
|
7.17 |
9.42 |
16 |
9.25 |
10 |
15 |
14 |
7.52 |
2.29 |
0.91 |
3.87 |
| Non-Cash Adjustments to Reconcile Net Income |
|
20 |
15 |
-8.20 |
15 |
30 |
-20 |
-12 |
27 |
49 |
-14 |
-1.79 |
| Changes in Operating Assets and Liabilities, net |
|
-22 |
-0.01 |
0.43 |
-0.88 |
0.10 |
0.38 |
1.59 |
-0.22 |
0.95 |
-1.06 |
-1.06 |
| Net Cash From Investing Activities |
|
-19 |
90 |
14 |
-476 |
63 |
222 |
304 |
-15 |
111 |
86 |
116 |
| Net Cash From Continuing Investing Activities |
|
-19 |
90 |
14 |
-476 |
63 |
222 |
304 |
-15 |
111 |
86 |
116 |
| Purchase of Investment Securities |
|
-3,155 |
-16,642 |
-18,735 |
-20,072 |
-12,798 |
-9,373 |
-6,641 |
-11,761 |
-11,564 |
-7,785 |
-3,844 |
| Sale and/or Maturity of Investments |
|
3,334 |
17,467 |
19,525 |
20,332 |
12,949 |
10,181 |
7,234 |
12,383 |
12,151 |
8,399 |
4,200 |
| Other Investing Activities, net |
|
-198 |
-734 |
-776 |
-735 |
-1,050 |
-586 |
-289 |
-638 |
-476 |
-528 |
-240 |
| Net Cash From Financing Activities |
|
-7.11 |
-120 |
-40 |
464 |
-129 |
-223 |
-306 |
-1.79 |
-167 |
-72 |
-132 |
| Net Cash From Continuing Financing Activities |
|
-7.11 |
-120 |
-40 |
464 |
-129 |
-223 |
-306 |
-1.79 |
-167 |
-72 |
-132 |
| Issuance of Debt |
|
5,995 |
2,661 |
1,957 |
3,412 |
1,798 |
2,038 |
2,181 |
2,568 |
6,030 |
7,173 |
9,256 |
| Issuance of Preferred Equity |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
| Issuance of Common Equity |
|
- |
0.00 |
0.00 |
59 |
- |
0.00 |
0.00 |
9.29 |
2.11 |
34 |
74 |
| Repayment of Debt |
|
-5,983 |
-2,761 |
-1,982 |
-2,990 |
-1,899 |
-2,224 |
-2,462 |
-2,518 |
-6,252 |
-7,286 |
-9,423 |
| Repurchase of Preferred Equity |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
| Repurchase of Common Equity |
|
0.00 |
-0.38 |
-0.20 |
0.00 |
-9.39 |
-0.75 |
-0.99 |
0.00 |
-0.26 |
0.00 |
0.00 |
| Payment of Dividends |
|
-20 |
-19 |
-16 |
-18 |
-19 |
-15 |
-14 |
-17 |
-14 |
-14 |
-22 |
| Other Financing Activities, Net |
|
-0.18 |
0.00 |
0.00 |
-0.50 |
- |
-21 |
-9.76 |
-43 |
67 |
21 |
-18 |
| Cash Interest Paid |
|
4.59 |
5.56 |
8.72 |
18 |
31 |
37 |
13 |
2.31 |
11 |
47 |
36 |
| Cash Income Taxes Paid |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.83 |
Quarterly Cash Flow Statements for Ellington Credit
This table details how cash moves in and out of Ellington Credit'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 |
| Net Change in Cash & Equivalents |
|
-3.72 |
-1.46 |
-16 |
96 |
-93 |
6.09 |
| Net Cash From Operating Activities |
|
-3.37 |
-2.27 |
-1.21 |
2.67 |
3.24 |
4.41 |
| Net Cash From Continuing Operating Activities |
|
-3.37 |
-2.27 |
-1.21 |
2.62 |
4.43 |
1.75 |
| Net Income / (Loss) Continuing Operations |
|
-11 |
12 |
3.96 |
-0.82 |
5.45 |
-2.01 |
| Consolidated Net Income / (Loss) |
|
-11 |
12 |
3.96 |
-0.82 |
5.45 |
-2.01 |
| Amortization Expense |
|
0.03 |
-0.50 |
1.09 |
-0.19 |
0.58 |
2.39 |
| Non-Cash Adjustments to Reconcile Net Income |
|
8.78 |
-15 |
-5.54 |
1.97 |
-1.71 |
2.56 |
| Changes in Operating Assets and Liabilities, net |
|
-0.75 |
0.43 |
-0.72 |
1.66 |
0.12 |
-1.18 |
| Net Cash From Investing Activities |
|
69 |
35 |
41 |
103 |
46 |
-74 |
| Net Cash From Continuing Investing Activities |
|
69 |
35 |
41 |
103 |
46 |
-74 |
| Purchase of Investment Securities |
|
-1,663 |
-3,044 |
-1,127 |
-860 |
-702 |
-1,156 |
| Sale and/or Maturity of Investments |
|
1,792 |
3,216 |
1,262 |
992 |
859 |
1,086 |
| Other Investing Activities, net |
|
-61 |
-137 |
-94 |
-29 |
-111 |
-4.66 |
| Net Cash From Financing Activities |
|
-69 |
-34 |
-56 |
-9.77 |
-143 |
76 |
| Net Cash From Continuing Financing Activities |
|
-69 |
-34 |
-56 |
-9.77 |
-143 |
76 |
| Issuance of Debt |
|
1,336 |
3,101 |
1,179 |
4,363 |
1,390 |
2,325 |
| Issuance of Common Equity |
|
9.88 |
17 |
7.43 |
9.07 |
46 |
11 |
| Repayment of Debt |
|
-1,400 |
-3,183 |
-1,225 |
-4,467 |
-1,482 |
-2,249 |
| Payment of Dividends |
|
-3.62 |
-3.91 |
-4.66 |
-4.83 |
-5.88 |
-6.85 |
| Other Financing Activities, Net |
|
-12 |
35 |
-12 |
91 |
-91 |
-5.15 |
| Cash Interest Paid |
|
13 |
13 |
11 |
10 |
7.89 |
6.80 |
| Cash Income Taxes Paid |
|
- |
- |
- |
- |
0.30 |
0.36 |
Annual Balance Sheets for Ellington Credit
This table presents Ellington Credit's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Total Assets |
|
1,557 |
1,429 |
1,887 |
1,676 |
1,489 |
1,195 |
1,598 |
1,054 |
946 |
824 |
784 |
| Cash and Due from Banks |
|
40 |
34 |
56 |
19 |
35 |
58 |
69 |
35 |
39 |
32 |
17 |
| Trading Account Securities |
|
1,323 |
1,308 |
1,776 |
1,553 |
1,408 |
1,084 |
1,436 |
996 |
125 |
76 |
0.81 |
| 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 |
| Customer and Other Receivables |
|
33 |
50 |
27 |
24 |
35 |
48 |
89 |
19 |
3.25 |
22 |
4.31 |
| Other Assets |
|
160 |
38 |
28 |
80 |
11 |
4.68 |
5.27 |
3.76 |
774 |
695 |
761 |
| Total Liabilities & Shareholders' Equity |
|
1,557 |
1,429 |
1,887 |
1,676 |
1,489 |
1,195 |
1,598 |
1,054 |
946 |
824 |
784 |
| Total Liabilities |
|
1,412 |
1,287 |
1,694 |
1,522 |
1,328 |
1,028 |
1,444 |
941 |
809 |
630 |
555 |
| Short-Term Debt |
|
1,326 |
1,205 |
1,603 |
1,509 |
1,318 |
1,022 |
1,321 |
885 |
749 |
565 |
546 |
| Accrued Interest Payable |
|
1.36 |
1.91 |
3.32 |
4.98 |
3.73 |
0.47 |
0.89 |
4.70 |
2.81 |
1.88 |
1.93 |
| Other Short-Term Payables |
|
4.64 |
4.30 |
5.66 |
5.09 |
4.08 |
4.37 |
2.55 |
- |
2.64 |
- |
5.42 |
| Long-Term Debt |
|
78 |
74 |
81 |
0.37 |
2.07 |
0.00 |
117 |
0.50 |
0.00 |
23 |
0.00 |
| Other Long-Term Liabilities |
|
0.98 |
1.59 |
1.21 |
1.90 |
0.64 |
1.69 |
2.54 |
51 |
55 |
41 |
1.77 |
| Total Equity & Noncontrolling Interests |
|
145 |
142 |
193 |
154 |
161 |
166 |
154 |
112 |
136 |
194 |
229 |
| Total Preferred & Common Equity |
|
145 |
142 |
193 |
154 |
161 |
166 |
154 |
112 |
136 |
194 |
229 |
| Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Total Common Equity |
|
145 |
142 |
193 |
154 |
161 |
166 |
154 |
112 |
136 |
194 |
229 |
| Common Stock |
|
181 |
181 |
240 |
231 |
230 |
230 |
239 |
241 |
275 |
349 |
400 |
| Retained Earnings |
|
-36 |
-39 |
-47 |
-77 |
-70 |
-63 |
-85 |
-129 |
-139 |
-155 |
-172 |
Quarterly Balance Sheets for Ellington Credit
This table presents Ellington Credit'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 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
| Total Assets |
1,064 |
964 |
933 |
752 |
| Cash and Due from Banks |
40 |
22 |
119 |
26 |
| Trading Account Securities |
138 |
119 |
169 |
94 |
| Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
0.00 |
| Customer and Other Receivables |
28 |
5.26 |
4.89 |
9.34 |
| Other Assets |
858 |
817 |
641 |
623 |
| Total Liabilities & Shareholders' Equity |
1,064 |
964 |
933 |
752 |
| Total Liabilities |
953 |
821 |
787 |
561 |
| Short-Term Debt |
828 |
757 |
619 |
531 |
| Accrued Interest Payable |
4.07 |
1.88 |
2.10 |
1.97 |
| Other Short-Term Payables |
2.72 |
3.29 |
3.38 |
4.80 |
| Long-Term Debt |
46 |
0.00 |
16 |
0.11 |
| Other Long-Term Liabilities |
72 |
59 |
147 |
23 |
| Total Equity & Noncontrolling Interests |
111 |
143 |
146 |
192 |
| Total Preferred & Common Equity |
111 |
143 |
146 |
192 |
| Preferred Stock |
0.00 |
0.00 |
0.00 |
0.00 |
| Total Common Equity |
111 |
143 |
146 |
192 |
| Common Stock |
258 |
282 |
291 |
338 |
| Retained Earnings |
-147 |
-139 |
-145 |
-146 |
Annual Metrics And Ratios for Ellington Credit
This table displays calculated financial ratios and metrics derived from Ellington Credit's official financial filings.
| Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
808.79% |
-76.39% |
226.86% |
-2.51% |
-135.09% |
575.96% |
-5.83% |
-102.15% |
-4,400.90% |
140.26% |
57.32% |
| EBITDA Growth |
|
1,068.85% |
-59.54% |
193.18% |
-27.63% |
-104.70% |
4,045.65% |
-7.49% |
-96.47% |
-2,396.95% |
119.61% |
100.37% |
| EBIT Growth |
|
944.72% |
-99.81% |
39,586.67% |
-9.39% |
-204.70% |
297.04% |
-9.63% |
-131.37% |
-378.65% |
115.10% |
55.65% |
| NOPAT Growth |
|
1,306.75% |
-99.81% |
39,586.67% |
-9.39% |
-173.29% |
381.49% |
-9.63% |
-121.96% |
-378.65% |
121.57% |
44.46% |
| Net Income Growth |
|
944.72% |
-99.81% |
39,586.67% |
-9.39% |
-204.70% |
297.04% |
-9.63% |
-131.37% |
-378.65% |
115.10% |
44.46% |
| EPS Growth |
|
710.34% |
-100.00% |
0.00% |
-29.01% |
-194.62% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Operating Cash Flow Growth |
|
-16.66% |
16.66% |
-19.65% |
72.69% |
-16.17% |
-39.22% |
38.99% |
14.41% |
-19.59% |
-144.71% |
190.92% |
| Free Cash Flow Firm Growth |
|
0.00% |
-130.09% |
486.05% |
-417.09% |
146.18% |
-0.10% |
52.31% |
-230.76% |
240.42% |
-79.63% |
-5.40% |
| Invested Capital Growth |
|
2.16% |
2.40% |
-8.28% |
32.05% |
-11.36% |
-11.00% |
-19.75% |
34.02% |
-37.36% |
-11.26% |
-11.75% |
| Revenue Q/Q Growth |
|
-3.16% |
44.67% |
6.12% |
-4.84% |
-207.97% |
256.74% |
-7.78% |
-105.75% |
29.90% |
82.63% |
-46.37% |
| EBITDA Q/Q Growth |
|
-2.28% |
50.83% |
4.99% |
-5.74% |
-108.59% |
152.35% |
-24.20% |
-78.68% |
24.00% |
280.53% |
-51.71% |
| EBIT Q/Q Growth |
|
-6.11% |
101.41% |
9.49% |
-10.15% |
-2,539.02% |
798.87% |
-31.55% |
-102.67% |
26.06% |
113,875.00% |
-67.33% |
| NOPAT Q/Q Growth |
|
-6.11% |
102.02% |
9.49% |
-10.15% |
-2,539.02% |
798.87% |
-31.55% |
-102.67% |
26.06% |
113,875.00% |
-69.68% |
| Net Income Q/Q Growth |
|
-6.11% |
101.41% |
9.49% |
-10.15% |
-2,539.02% |
798.87% |
-10.31% |
-264.13% |
26.06% |
113,875.00% |
-68.68% |
| EPS Q/Q Growth |
|
2.31% |
100.00% |
10.08% |
-13.89% |
-8,700.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Operating Cash Flow Q/Q Growth |
|
18.51% |
24.61% |
-52.09% |
83.30% |
-7.70% |
-11.21% |
15.21% |
-5.06% |
-8.16% |
-183.35% |
274.67% |
| Free Cash Flow Firm Q/Q Growth |
|
0.00% |
0.41% |
50.78% |
8.76% |
8.53% |
186.50% |
-28.50% |
-301.20% |
-56.80% |
111.85% |
-61.17% |
| Invested Capital Q/Q Growth |
|
2.85% |
2.88% |
-0.20% |
-2.43% |
-4.07% |
-11.07% |
-5.49% |
17.36% |
0.00% |
-10.22% |
8.06% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
106.49% |
182.51% |
163.71% |
121.53% |
0.00% |
134.94% |
132.56% |
0.00% |
0.00% |
54.21% |
69.04% |
| EBIT Margin |
|
73.76% |
0.58% |
70.39% |
65.42% |
0.00% |
80.80% |
77.54% |
0.00% |
0.00% |
45.17% |
44.69% |
| Profit (Net Income) Margin |
|
73.76% |
0.58% |
70.39% |
65.42% |
0.00% |
80.80% |
77.54% |
0.00% |
0.00% |
45.17% |
41.47% |
| Tax Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
92.81% |
| Interest Burden Percent |
|
100.00% |
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% |
7.19% |
| Return on Invested Capital (ROIC) |
|
1.08% |
0.00% |
0.80% |
0.65% |
0.00% |
1.42% |
1.51% |
0.00% |
0.00% |
0.48% |
0.79% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
1.08% |
0.00% |
0.80% |
0.65% |
0.00% |
1.42% |
1.51% |
0.00% |
0.00% |
0.48% |
0.79% |
| Return on Net Nonoperating Assets (RNNOA) |
|
8.70% |
0.02% |
7.51% |
5.80% |
0.00% |
12.73% |
10.78% |
0.00% |
0.00% |
3.18% |
3.20% |
| Return on Equity (ROE) |
|
9.78% |
0.02% |
8.31% |
6.45% |
-6.52% |
14.15% |
12.29% |
-3.94% |
-22.65% |
3.67% |
3.99% |
| Cash Return on Invested Capital (CROIC) |
|
-1.05% |
-2.37% |
9.44% |
-26.97% |
11.60% |
13.05% |
23.42% |
-29.39% |
44.31% |
12.41% |
13.27% |
| Operating Return on Assets (OROA) |
|
1.07% |
0.00% |
0.80% |
0.65% |
0.00% |
1.41% |
1.50% |
0.00% |
0.00% |
0.46% |
0.80% |
| Return on Assets (ROA) |
|
1.07% |
0.00% |
0.80% |
0.65% |
0.00% |
1.41% |
1.50% |
0.00% |
0.00% |
0.46% |
0.74% |
| Return on Common Equity (ROCE) |
|
9.78% |
0.02% |
8.31% |
6.45% |
-6.52% |
14.15% |
12.29% |
-3.94% |
-22.65% |
3.67% |
3.99% |
| Return on Equity Simple (ROE_SIMPLE) |
|
9.90% |
0.02% |
8.40% |
5.60% |
-7.34% |
13.84% |
12.09% |
-4.09% |
-26.86% |
3.35% |
3.40% |
| Net Operating Profit after Tax (NOPAT) |
|
16 |
0.03 |
12 |
11 |
-7.91 |
22 |
20 |
-4.42 |
-21 |
4.56 |
6.59 |
| NOPAT Margin |
|
73.76% |
0.58% |
70.39% |
65.42% |
0.00% |
80.80% |
77.54% |
0.00% |
0.00% |
45.17% |
41.47% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.21% |
0.00% |
0.00% |
0.15% |
0.78% |
0.00% |
0.00% |
| SG&A Expenses to Revenue |
|
3.09% |
12.00% |
3.54% |
4.70% |
0.00% |
1.84% |
2.34% |
0.00% |
0.00% |
7.28% |
9.79% |
| Operating Expenses to Revenue |
|
26.24% |
99.42% |
29.61% |
34.58% |
0.00% |
19.20% |
22.46% |
0.00% |
0.00% |
54.83% |
55.31% |
| Earnings before Interest and Taxes (EBIT) |
|
16 |
0.03 |
12 |
11 |
-11 |
22 |
20 |
-6.31 |
-30 |
4.56 |
7.10 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
23 |
9.45 |
28 |
20 |
-0.94 |
37 |
34 |
1.22 |
-28 |
5.47 |
11 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
0.28 |
0.27 |
0.33 |
0.37 |
0.43 |
0.47 |
0.61 |
0.61 |
0.64 |
0.60 |
0.95 |
| Price to Tangible Book Value (P/TBV) |
|
0.28 |
0.27 |
0.33 |
0.37 |
0.43 |
0.47 |
0.61 |
0.61 |
0.64 |
0.60 |
0.95 |
| Price to Revenue (P/Rev) |
|
2.06 |
7.62 |
2.79 |
4.33 |
0.00 |
2.76 |
3.94 |
0.00 |
0.00 |
8.04 |
11.56 |
| Price to Earnings (P/E) |
|
2.79 |
1,314.21 |
3.97 |
6.62 |
0.00 |
3.42 |
5.08 |
0.00 |
0.00 |
17.79 |
27.86 |
| Dividend Yield |
|
44.54% |
46.34% |
31.88% |
29.33% |
27.95% |
19.30% |
13.51% |
16.17% |
19.01% |
19.32% |
15.07% |
| Earnings Yield |
|
35.78% |
0.08% |
25.20% |
15.11% |
0.00% |
29.24% |
19.67% |
0.00% |
0.00% |
5.62% |
3.59% |
| Enterprise Value to Invested Capital (EV/IC) |
|
0.89 |
0.91 |
0.91 |
0.91 |
0.94 |
0.92 |
0.90 |
0.92 |
0.93 |
0.89 |
0.95 |
| Enterprise Value to Revenue (EV/Rev) |
|
61.58 |
271.32 |
76.46 |
103.06 |
0.00 |
49.40 |
41.10 |
0.00 |
0.00 |
78.42 |
46.55 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
57.83 |
148.66 |
46.71 |
84.80 |
0.00 |
36.61 |
31.00 |
1,204.65 |
0.00 |
144.66 |
67.42 |
| Enterprise Value to EBIT (EV/EBIT) |
|
83.49 |
46,803.34 |
108.63 |
157.53 |
0.00 |
61.13 |
53.00 |
0.00 |
0.00 |
173.64 |
104.17 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
83.49 |
46,803.34 |
108.63 |
157.53 |
0.00 |
61.13 |
53.00 |
0.00 |
0.00 |
173.64 |
112.24 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
63.50 |
56.61 |
64.90 |
49.38 |
53.96 |
77.60 |
43.74 |
52.50 |
41.17 |
0.00 |
81.13 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
9.22 |
0.00 |
7.58 |
6.63 |
3.41 |
0.00 |
1.61 |
6.77 |
6.69 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
8.26 |
9.70 |
9.03 |
8.74 |
9.82 |
8.21 |
6.14 |
9.33 |
7.87 |
5.50 |
3.03 |
| Long-Term Debt to Equity |
|
0.09 |
0.54 |
0.52 |
0.42 |
0.00 |
0.01 |
0.00 |
0.76 |
0.00 |
0.00 |
0.12 |
| Financial Leverage |
|
8.06 |
8.94 |
9.37 |
8.86 |
9.22 |
8.99 |
7.16 |
7.67 |
8.71 |
6.57 |
4.05 |
| Leverage Ratio |
|
9.17 |
9.99 |
10.42 |
9.92 |
10.28 |
10.06 |
8.20 |
8.71 |
9.95 |
8.04 |
5.36 |
| Compound Leverage Factor |
|
9.17 |
9.99 |
10.42 |
9.92 |
10.28 |
10.06 |
8.20 |
8.71 |
9.95 |
8.04 |
5.36 |
| Debt to Total Capital |
|
89.20% |
90.65% |
90.03% |
89.73% |
90.75% |
89.14% |
86.00% |
90.32% |
88.73% |
84.61% |
75.20% |
| Short-Term Debt to Total Capital |
|
88.28% |
85.59% |
84.81% |
85.40% |
90.73% |
89.00% |
86.00% |
82.96% |
88.68% |
84.61% |
72.31% |
| Long-Term Debt to Total Capital |
|
0.92% |
5.06% |
5.22% |
4.33% |
0.02% |
0.14% |
0.00% |
7.36% |
0.05% |
0.00% |
2.89% |
| 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 |
|
10.80% |
9.35% |
9.97% |
10.27% |
9.25% |
10.86% |
14.00% |
9.68% |
11.27% |
15.39% |
24.80% |
| Debt to EBITDA |
|
57.83 |
148.74 |
46.21 |
84.04 |
-1,602.73 |
35.51 |
29.72 |
1,183.76 |
-31.72 |
136.88 |
53.59 |
| Net Debt to EBITDA |
|
55.90 |
144.49 |
45.00 |
81.24 |
-1,583.00 |
34.56 |
28.03 |
1,126.95 |
-30.47 |
129.84 |
50.68 |
| Long-Term Debt to EBITDA |
|
0.60 |
8.31 |
2.68 |
4.06 |
-0.40 |
0.06 |
0.00 |
96.46 |
-0.02 |
0.00 |
2.06 |
| Debt to NOPAT |
|
83.50 |
46,828.00 |
107.48 |
156.12 |
-190.95 |
59.30 |
50.81 |
-325.67 |
-41.87 |
164.29 |
89.21 |
| Net Debt to NOPAT |
|
80.70 |
45,489.13 |
104.67 |
150.92 |
-188.60 |
57.71 |
47.92 |
-310.04 |
-40.23 |
155.84 |
84.38 |
| Long-Term Debt to NOPAT |
|
0.86 |
2,614.90 |
6.23 |
7.54 |
-0.05 |
0.09 |
0.00 |
-26.54 |
-0.02 |
0.00 |
3.43 |
| 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 |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
-16 |
-36 |
140 |
-445 |
205 |
205 |
313 |
-409 |
574 |
117 |
111 |
| 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 |
|
-3.50 |
-5.83 |
15.12 |
-23.35 |
6.32 |
0.00 |
0.00 |
0.00 |
38.72 |
2.58 |
3.18 |
| Operating Cash Flow to Interest Expense |
|
4.71 |
3.98 |
2.15 |
1.81 |
0.89 |
0.00 |
0.00 |
0.00 |
1.51 |
-0.22 |
0.26 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
4.71 |
3.98 |
2.15 |
1.81 |
30.46 |
0.00 |
0.00 |
0.00 |
1.51 |
-0.22 |
0.26 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
0.02 |
0.02 |
0.00 |
0.00 |
0.01 |
0.02 |
| 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 |
|
1,513 |
1,550 |
1,421 |
1,877 |
1,664 |
1,481 |
1,188 |
1,592 |
998 |
885 |
781 |
| Invested Capital Turnover |
|
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
0.02 |
0.02 |
0.00 |
0.00 |
0.01 |
0.02 |
| Increase / (Decrease) in Invested Capital |
|
32 |
36 |
-128 |
456 |
-213 |
-183 |
-292 |
404 |
-595 |
-112 |
-104 |
| Enterprise Value (EV) |
|
1,350 |
1,404 |
1,293 |
1,699 |
1,557 |
1,361 |
1,066 |
1,464 |
923 |
792 |
739 |
| Market Capitalization |
|
45 |
39 |
47 |
71 |
65 |
76 |
102 |
94 |
72 |
81 |
184 |
| Book Value per Share |
|
$17.86 |
$15.86 |
$15.52 |
$14.45 |
$12.20 |
$12.92 |
$13.49 |
$11.92 |
$8.49 |
$8.34 |
$6.73 |
| Tangible Book Value per Share |
|
$17.86 |
$15.86 |
$15.52 |
$14.45 |
$12.20 |
$12.92 |
$13.49 |
$11.92 |
$8.49 |
$8.34 |
$6.73 |
| Total Capital |
|
1,513 |
1,550 |
1,421 |
1,877 |
1,664 |
1,481 |
1,188 |
1,592 |
998 |
885 |
781 |
| Total Debt |
|
1,350 |
1,405 |
1,280 |
1,684 |
1,510 |
1,320 |
1,022 |
1,438 |
885 |
749 |
588 |
| Total Long-Term Debt |
|
14 |
78 |
74 |
81 |
0.37 |
2.07 |
0.00 |
117 |
0.50 |
0.00 |
23 |
| Net Debt |
|
1,305 |
1,365 |
1,246 |
1,628 |
1,491 |
1,284 |
964 |
1,369 |
850 |
710 |
556 |
| Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
-962 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
3.39 |
0.00 |
0.00 |
1.89 |
9.06 |
0.00 |
0.00 |
| Net Nonoperating Obligations (NNO) |
|
1,350 |
1,405 |
1,280 |
1,684 |
1,510 |
1,320 |
1,022 |
1,438 |
885 |
749 |
588 |
| Total Depreciation and Amortization (D&A) |
|
7.17 |
9.42 |
16 |
9.25 |
10 |
15 |
14 |
7.52 |
2.29 |
0.91 |
3.87 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$1.77 |
$0.00 |
$1.31 |
$0.93 |
($0.88) |
$1.79 |
$1.63 |
$0.00 |
($2.29) |
$0.31 |
$0.28 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
9.15M |
9.12M |
9.13M |
13.12M |
12.47M |
12.46M |
12.34M |
0.00 |
13.78M |
19.82M |
37.56M |
| Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.79 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
9.15M |
9.12M |
9.13M |
13.12M |
12.47M |
12.46M |
12.34M |
0.00 |
13.78M |
19.82M |
37.56M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.79 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
9.15M |
9.12M |
9.13M |
13.12M |
12.47M |
12.46M |
12.34M |
0.00 |
13.78M |
19.82M |
37.56M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
11 |
0.02 |
8.33 |
7.55 |
-7.91 |
16 |
14 |
-4.42 |
-21 |
3.19 |
6.59 |
| Normalized NOPAT Margin |
|
51.63% |
0.41% |
49.27% |
45.80% |
0.00% |
56.56% |
54.28% |
0.00% |
0.00% |
31.62% |
41.47% |
| Pre Tax Income Margin |
|
73.76% |
0.58% |
70.39% |
65.42% |
0.00% |
80.80% |
77.54% |
0.00% |
0.00% |
45.17% |
44.69% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
3.58 |
0.00 |
1.28 |
0.57 |
-0.35 |
0.00 |
0.00 |
0.00 |
-2.04 |
0.10 |
0.20 |
| NOPAT to Interest Expense |
|
3.58 |
0.00 |
1.28 |
0.57 |
-0.24 |
0.00 |
0.00 |
0.00 |
-1.43 |
0.10 |
0.19 |
| EBIT Less CapEx to Interest Expense |
|
3.58 |
0.00 |
1.28 |
0.57 |
29.23 |
0.00 |
0.00 |
0.00 |
-2.04 |
0.10 |
0.20 |
| NOPAT Less CapEx to Interest Expense |
|
3.58 |
0.00 |
1.28 |
0.57 |
29.33 |
0.00 |
0.00 |
0.00 |
-1.43 |
0.10 |
0.19 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
121.57% |
64,023.33% |
130.28% |
163.01% |
-168.98% |
69.50% |
68.82% |
-273.77% |
-46.15% |
309.76% |
337.31% |
| Augmented Payout Ratio |
|
121.57% |
65,273.33% |
131.93% |
163.01% |
-252.08% |
72.85% |
73.72% |
-273.77% |
-47.02% |
309.76% |
337.31% |
Quarterly Metrics And Ratios for Ellington Credit
This table displays calculated financial ratios and metrics derived from Ellington Credit's official financial filings.
| Metric |
|
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
19.11% |
49.39% |
61.75% |
-52.87% |
185.78% |
-99.41% |
| EBITDA Growth |
|
17.16% |
51.02% |
71.49% |
-160.00% |
156.97% |
-98.32% |
| EBIT Growth |
|
16.47% |
57.78% |
82.46% |
-173.98% |
151.73% |
-117.57% |
| NOPAT Growth |
|
16.47% |
57.78% |
69.49% |
-151.79% |
168.11% |
-112.30% |
| Net Income Growth |
|
16.47% |
57.78% |
69.49% |
-167.75% |
147.68% |
-116.12% |
| EPS Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Operating Cash Flow Growth |
|
-180.63% |
-154.00% |
49.43% |
233.63% |
196.26% |
293.76% |
| Free Cash Flow Firm Growth |
|
-173.78% |
-79.31% |
-71.31% |
-168.53% |
127.01% |
-17.88% |
| Invested Capital Growth |
|
0.00% |
-11.26% |
-12.36% |
0.00% |
-26.68% |
-11.75% |
| Revenue Q/Q Growth |
|
-472.33% |
237.25% |
-57.35% |
-78.37% |
577.63% |
-99.05% |
| EBITDA Q/Q Growth |
|
-732.83% |
204.83% |
-55.16% |
-120.17% |
700.83% |
-96.90% |
| EBIT Q/Q Growth |
|
-1,049.29% |
208.92% |
-65.72% |
-120.87% |
763.82% |
-137.00% |
| NOPAT Q/Q Growth |
|
-764.51% |
255.60% |
-68.16% |
-115.73% |
974.00% |
-128.10% |
| Net Income Q/Q Growth |
|
-1,049.29% |
208.92% |
-68.16% |
-120.58% |
768.10% |
-136.82% |
| EPS Q/Q Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Operating Cash Flow Q/Q Growth |
|
-68.52% |
32.46% |
47.01% |
321.58% |
21.39% |
35.95% |
| Free Cash Flow Firm Q/Q Growth |
|
-187.10% |
112.55% |
4.88% |
-697.72% |
134.33% |
-61.84% |
| Invested Capital Q/Q Growth |
|
0.00% |
-10.22% |
1.67% |
-13.18% |
-7.48% |
8.06% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
0.00% |
86.45% |
90.88% |
-84.77% |
75.17% |
245.12% |
| EBIT Margin |
|
0.00% |
90.05% |
72.38% |
-69.86% |
68.44% |
-2,665.85% |
| Profit (Net Income) Margin |
|
0.00% |
90.05% |
67.24% |
-63.97% |
63.07% |
-2,445.12% |
| Tax Burden Percent |
|
100.00% |
100.00% |
92.89% |
91.57% |
92.16% |
91.72% |
| Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Effective Tax Rate |
|
0.00% |
0.00% |
7.11% |
0.00% |
7.84% |
0.00% |
| Return on Invested Capital (ROIC) |
|
0.00% |
0.97% |
0.86% |
-1.37% |
2.19% |
-35.56% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
0.97% |
0.86% |
-1.43% |
2.19% |
-35.63% |
| Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
6.35% |
5.53% |
-6.20% |
10.14% |
-144.34% |
| Return on Equity (ROE) |
|
0.00% |
7.31% |
6.39% |
-7.57% |
12.32% |
-179.91% |
| Cash Return on Invested Capital (CROIC) |
|
-200.00% |
12.41% |
13.84% |
-198.88% |
33.32% |
13.27% |
| Operating Return on Assets (OROA) |
|
0.00% |
0.91% |
0.87% |
-0.82% |
2.23% |
-47.84% |
| Return on Assets (ROA) |
|
0.00% |
0.91% |
0.81% |
-0.75% |
2.06% |
-43.88% |
| Return on Common Equity (ROCE) |
|
0.00% |
7.31% |
6.39% |
-7.57% |
12.32% |
-179.90% |
| Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
0.00% |
4.33% |
2.85% |
10.97% |
0.00% |
| Net Operating Profit after Tax (NOPAT) |
|
-7.99 |
12 |
3.96 |
-0.62 |
5.45 |
-1.53 |
| NOPAT Margin |
|
0.00% |
90.05% |
67.24% |
-48.90% |
63.07% |
-1,866.10% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.78% |
0.00% |
0.00% |
0.06% |
0.00% |
0.07% |
| SG&A Expenses to Revenue |
|
0.00% |
1.38% |
4.58% |
33.83% |
5.80% |
430.49% |
| Operating Expenses to Revenue |
|
0.00% |
9.95% |
27.62% |
169.86% |
31.56% |
2,765.85% |
| Earnings before Interest and Taxes (EBIT) |
|
-11 |
12 |
4.26 |
-0.89 |
5.91 |
-2.19 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-11 |
12 |
5.35 |
-1.08 |
6.49 |
0.20 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
0.72 |
0.60 |
0.92 |
0.95 |
0.91 |
0.95 |
| Price to Tangible Book Value (P/TBV) |
|
0.72 |
0.60 |
0.92 |
0.95 |
0.91 |
0.95 |
| Price to Revenue (P/Rev) |
|
14.46 |
8.04 |
10.60 |
12.68 |
5.90 |
11.56 |
| Price to Earnings (P/E) |
|
19,974.45 |
17.79 |
21.15 |
33.22 |
8.31 |
27.86 |
| Dividend Yield |
|
18.16% |
19.32% |
14.55% |
13.97% |
13.92% |
15.07% |
| Earnings Yield |
|
0.01% |
5.62% |
4.73% |
3.01% |
12.04% |
3.59% |
| Enterprise Value to Invested Capital (EV/IC) |
|
0.93 |
0.89 |
0.96 |
0.84 |
0.94 |
0.95 |
| Enterprise Value to Revenue (EV/Rev) |
|
165.45 |
78.42 |
70.12 |
60.00 |
22.97 |
46.55 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
635.93 |
144.66 |
112.34 |
135.75 |
29.96 |
67.42 |
| Enterprise Value to EBIT (EV/EBIT) |
|
228,616.95 |
173.64 |
133.43 |
149.07 |
31.32 |
104.17 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
228,616.95 |
173.64 |
133.43 |
149.07 |
31.32 |
112.24 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
279.71 |
81.13 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
6.77 |
6.49 |
0.00 |
2.39 |
6.69 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
7.85 |
5.50 |
5.30 |
4.35 |
2.77 |
3.03 |
| Long-Term Debt to Equity |
|
0.42 |
0.00 |
0.00 |
0.11 |
0.00 |
0.12 |
| Financial Leverage |
|
7.85 |
6.57 |
6.42 |
4.35 |
4.64 |
4.05 |
| Leverage Ratio |
|
9.55 |
8.04 |
7.89 |
6.39 |
5.99 |
5.36 |
| Compound Leverage Factor |
|
9.55 |
8.04 |
7.89 |
6.39 |
5.99 |
5.36 |
| Debt to Total Capital |
|
88.70% |
84.61% |
84.12% |
81.30% |
73.49% |
75.20% |
| Short-Term Debt to Total Capital |
|
84.00% |
84.61% |
84.12% |
79.23% |
73.48% |
72.31% |
| Long-Term Debt to Total Capital |
|
4.70% |
0.00% |
0.00% |
2.07% |
0.02% |
2.89% |
| Preferred Equity to Total Capital |
|
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% |
| Common Equity to Total Capital |
|
11.30% |
15.39% |
15.88% |
18.70% |
26.51% |
24.80% |
| Debt to EBITDA |
|
608.18 |
136.88 |
98.27 |
131.69 |
23.40 |
53.59 |
| Net Debt to EBITDA |
|
580.37 |
129.84 |
95.36 |
107.07 |
22.27 |
50.68 |
| Long-Term Debt to EBITDA |
|
32.22 |
0.00 |
0.00 |
3.36 |
0.00 |
2.06 |
| Debt to NOPAT |
|
218,641.50 |
164.29 |
116.73 |
144.61 |
24.46 |
89.21 |
| Net Debt to NOPAT |
|
208,642.50 |
155.84 |
113.27 |
117.58 |
23.28 |
84.38 |
| Long-Term Debt to NOPAT |
|
11,581.50 |
0.00 |
0.00 |
3.69 |
0.01 |
3.43 |
| Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
-994 |
125 |
131 |
-782 |
268 |
102 |
| Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Free Cash Flow to Firm to Interest Expense |
|
-80.49 |
10.84 |
12.95 |
-76.41 |
34.63 |
15.27 |
| Operating Cash Flow to Interest Expense |
|
-0.27 |
-0.20 |
-0.12 |
0.26 |
0.42 |
0.66 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
-0.27 |
-0.20 |
-0.12 |
0.26 |
0.42 |
0.66 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.01 |
0.01 |
0.01 |
0.01 |
0.03 |
0.02 |
| Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
986 |
885 |
900 |
781 |
723 |
781 |
| Invested Capital Turnover |
|
0.01 |
0.01 |
0.01 |
0.03 |
0.03 |
0.02 |
| Increase / (Decrease) in Invested Capital |
|
986 |
-112 |
-127 |
781 |
-263 |
-104 |
| Enterprise Value (EV) |
|
914 |
792 |
865 |
655 |
680 |
739 |
| Market Capitalization |
|
80 |
81 |
131 |
138 |
175 |
184 |
| Book Value per Share |
|
$7.38 |
$8.34 |
$7.21 |
$7.26 |
$7.57 |
$6.73 |
| Tangible Book Value per Share |
|
$7.38 |
$8.34 |
$7.21 |
$7.26 |
$7.57 |
$6.73 |
| Total Capital |
|
986 |
885 |
900 |
781 |
723 |
781 |
| Total Debt |
|
875 |
749 |
757 |
635 |
531 |
588 |
| Total Long-Term Debt |
|
46 |
0.00 |
0.00 |
16 |
0.11 |
23 |
| Net Debt |
|
835 |
710 |
735 |
517 |
506 |
556 |
| Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Net Nonoperating Expense (NNE) |
|
3.43 |
0.00 |
0.00 |
0.19 |
0.00 |
0.47 |
| Net Nonoperating Obligations (NNO) |
|
875 |
749 |
757 |
635 |
531 |
588 |
| Total Depreciation and Amortization (D&A) |
|
0.03 |
-0.50 |
1.09 |
-0.19 |
0.58 |
2.39 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
($0.75) |
$0.80 |
$0.20 |
($0.04) |
$0.21 |
($0.09) |
| Adjusted Weighted Average Basic Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
| Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
16.33M |
19.82M |
20.13M |
25.33M |
28.80M |
37.56M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
-7.99 |
8.71 |
3.96 |
-0.62 |
5.45 |
-1.53 |
| Normalized NOPAT Margin |
|
0.00% |
63.04% |
67.24% |
-48.90% |
63.07% |
-1,866.10% |
| Pre Tax Income Margin |
|
0.00% |
90.05% |
72.38% |
-69.86% |
68.44% |
-2,665.85% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
-0.92 |
1.08 |
0.42 |
-0.09 |
0.76 |
-0.33 |
| NOPAT to Interest Expense |
|
-0.65 |
1.08 |
0.39 |
-0.06 |
0.70 |
-0.23 |
| EBIT Less CapEx to Interest Expense |
|
-0.92 |
1.08 |
0.42 |
-0.09 |
0.76 |
-0.33 |
| NOPAT Less CapEx to Interest Expense |
|
-0.65 |
1.08 |
0.39 |
-0.06 |
0.70 |
-0.23 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
334,900.00% |
309.76% |
250.88% |
408.60% |
91.67% |
337.31% |
| Augmented Payout Ratio |
|
334,900.00% |
309.76% |
250.88% |
408.60% |
91.67% |
337.31% |
Key Financial Trends
Ellington Credit’s 2024 results show a highly volatile earnings profile. Net income was $4.0 million in Q1, a loss of $0.8 million in Q2, profit of $5.4 million in Q3, and a loss of $2.0 million in Q4. The company’s performance remains heavily influenced by investment gains and losses rather than by recurring net interest income alone.
There was some improvement in the core interest spread during the fourth quarter. Total interest income increased from $12.5 million in Q3 to $12.8 million in Q4, while interest expense declined from $7.8 million to $6.7 million. As a result, net interest income rose 29% quarter over quarter to $6.1 million. However, a $4.8 million investment loss more than offset that improvement, reducing Q4 revenue to just $82,000 and producing a $0.09 per-share loss.
- Net interest income improved materially: Q4 net interest income reached $6.1 million, up from $4.8 million in Q3 and well above the $279,000 recorded in Q1.
- Interest expense declined in Q4: Total interest expense fell approximately 13% from Q3, helping expand the interest margin despite relatively stable interest income.
- Operating cash flow turned positive and strengthened: Net cash from operating activities increased from a $1.2 million outflow in Q1 to $2.7 million in Q2, $3.2 million in Q3 and $4.4 million in Q4.
- Balance-sheet leverage declined during 2024: Total liabilities fell from $821.0 million at March 31 to $560.7 million at September 30, while total assets declined from $964.0 million to $752.3 million.
- Common equity increased through September: Total common equity rose from $142.9 million in Q1 to $191.6 million in Q3, providing a larger reported equity cushion relative to liabilities.
- Investment activity remained extremely large relative to reported earnings: Purchases and sales or maturities of investment securities each exceeded $1.0 billion in Q4. These transactions appear to reflect portfolio turnover and financing activity rather than ordinary operating cash generation.
- Cash balances were volatile: Cash declined from $118.8 million at June 30 to $25.7 million at September 30, while quarterly cash flow later showed a $6.1 million increase in Q4. The lack of a Q4 balance sheet limits visibility into the year-end liquidity position.
- Profitability deteriorated sharply in Q4: Net income fell from $5.4 million in Q3 to a $2.0 million loss, and EPS declined from $0.21 to negative $0.09.
- Earnings remain dependent on volatile investment marks: Net investment gains swung from a $5.6 million gain in Q1 and a $3.3 million gain in Q3 to losses of $2.6 million in Q2 and $4.8 million in Q4. This volatility makes recurring earnings difficult to forecast.
- Shareholder dilution was significant: Weighted-average basic shares increased from 20.1 million in Q1 to 37.6 million in Q4. Although equity issuance can support growth and balance-sheet funding, it reduces each existing shareholder’s percentage ownership and contributed to declining per-share results.
Overall, Ellington Credit entered 2025 with better recurring interest income and stronger quarterly operating cash flow than it had at the start of 2024. However, the company’s earnings remain exposed to investment-market volatility, substantial debt financing and ongoing share issuance. Investors should focus on whether net interest income can remain positive while investment losses stabilize and dilution slows.
10/10/26 09:23 AM ETAI Generated. May Contain Errors.