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 (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.