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Ellington Credit (EARN) Financials

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$4.42 -0.05 (-1.01%)
As of 10:32 AM Eastern
This is a fair market value price provided by Massive. Learn more.
Annual Income Statements for Ellington Credit

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.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
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
Net Income / (Loss) Continuing Operations
16 0.03 12 11 -11 22 20 -6.31 -30 4.56 6.59
Total Pre-Tax Income
16 0.03 12 11 -11 22 20 -6.31 -30 4.56 7.10
Total Revenue
22 5.18 17 16 -5.79 28 26 -0.56 -25 10 16
Net Interest Income / (Expense)
42 35 24 30 22 8.57 17 26 20 -2.71 15
Total Interest Income
47 41 33 49 55 8.57 17 26 35 43 50
Investment Securities Interest Income
47 41 33 49 55 44 27 28 35 43 50
Total Interest Expense
4.51 6.24 9.27 19 33 0.00 0.00 0.00 15 45 35
Long-Term Debt Interest Expense
- - - - - - - - 15 45 35
Total Non-Interest Income
-20 -29 -7.31 -14 -28 19 8.58 -26 -45 13 0.81
Other Service Charges
- - - - - - - - - 0.00 -0.67
Net Realized & Unrealized Capital Gains on Investments
-20 -29 -7.31 -14 -28 19 8.58 -26 -45 13 1.48
Total Non-Interest Expense
5.75 5.15 5.01 5.70 5.51 5.29 5.83 5.75 5.13 5.54 8.78
Salaries and Employee Benefits
0.68 0.62 0.60 0.78 0.59 0.51 0.61 0.72 0.71 0.74 1.56
Other Operating Expenses
5.07 4.52 4.41 4.93 4.92 4.78 5.22 5.03 4.42 4.80 7.23
Income Tax Expense
- - - - - - - - - 0.00 0.51
Basic Earnings per Share
$1.77 $0.00 $1.31 $0.93 ($0.88) $1.79 $1.63 ($0.50) ($2.29) $0.31 $0.28
Weighted Average Basic Shares Outstanding
9.14M 9.12M 9.13M 13.12M 12.47M 12.46M 12.34M 13.11M 13.78M 19.82M 37.56M
Weighted Average Diluted Shares Outstanding
9.14M 9.12M 9.13M 13.12M 12.47M 12.46M 12.34M 13.11M 13.78M 19.82M 37.56M
Weighted Average Basic & Diluted Shares Outstanding
9.14M 9.12M 9.13M 13.12M 12.47M 12.46M 12.34M 13.11M 13.78M 19.82M 37.56M
Cash Dividends to Common per Share
$2.20 $2.00 $1.65 $1.57 $1.45 $1.18 $1.12 $1.18 $1.04 $0.96 $0.96

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
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
-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
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 3/31/2025
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
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024
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
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
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
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
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%

Financials Breakdown Chart

Key Financial Trends

Ellington Credit (NYSE: EARN) showed a mixed but generally deteriorating operating profile in 2024, with a weak finish to the year after stronger results earlier in the year. The company remained highly dependent on spread income and investment performance, but Q4 2024 was a sharp step down from prior quarters and from late 2023.

  • Q3 2024 was a strong quarter, with net income of $5.4 million and EPS of $0.21, showing the business can still generate solid earnings in favorable conditions.
  • Q2 and Q3 2024 both produced positive operating cash flow, with $2.7 million and $3.2 million in net cash from operating activities, respectively.
  • The company continued to produce positive cash from investing activities in multiple quarters, helped by large sales and maturities of investment securities.
  • Cash and equivalents increased materially in Q2 2024 to $118.8 million, providing a solid liquidity cushion at that point in the year.
  • Common equity rose to $337.8 million in Q3 2024 from $282.4 million in Q1 2024, reflecting balance-sheet growth and/or capital activity.
  • The company’s financing model remained active, with very large debt issuance and repayment volumes each quarter, indicating a highly managed but leverage-dependent structure.
  • Dividend payments remained modest relative to the scale of the balance sheet, with common dividends around $0.24 per share in the reported quarters.
  • Q4 2024 turned negative, with a net loss of $2.0 million and EPS of -$0.09, reversing the profitable Q3 result.
  • Total revenue in Q4 2024 was only $82,000, as investment gains collapsed and non-interest income swung to a -$6.1 million loss.
  • Book equity weakened sharply: total common equity fell to $191.6 million in Q3 2024 from $146.1 million in Q2 2024, but liabilities also remained very high, showing leverage remains a key risk.
  • Interest expense stayed elevated and exceeded interest income in several periods, leaving the company dependent on capital gains and portfolio marks to generate profits.
  • Compared with Q4 2023, results were much weaker: net income dropped from $12.4 million to a loss in Q4 2024, and earnings momentum clearly faded over the year.

Bottom line: EARN’s 2024 results show a volatile mortgage/credit REIT-style profile: earnings can rebound quickly when investment gains are favorable, but the company is exposed to sharp quarter-to-quarter swings, high leverage, and mark-to-market risk. Investors should focus on dividend coverage, leverage trends, and whether portfolio income can stabilize without relying on capital gains.

07/17/26 10:35 AM ETAI Generated. May Contain Errors.

Ellington Credit Financials - Frequently Asked Questions

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

Ellington Credit's net income appears to be on a downward trend, with a most recent value of $6.59 million in 2024, falling from $16.17 million in 2014. The previous period was $4.56 million in 2023. Find out what analysts predict for Ellington Credit in the coming months.

Over the last 10 years, Ellington Credit's total revenue changed from $21.92 million in 2014 to $15.88 million in 2024, a change of -27.6%.

Ellington Credit's total liabilities were at $555.06 million at the end of 2025, a 11.9% decrease from 2024, and a 60.7% decrease since 2015.

In the past 10 years, Ellington Credit's cash and equivalents has ranged from $17.38 million in 2025 to $69.03 million in 2021, and is currently $17.38 million as of their latest financial filing in 2025.

Over the last 10 years, Ellington Credit's book value per share changed from 17.86 in 2014 to 6.73 in 2024, a change of -62.3%.



Financial statements for NYSE:EARN last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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