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Ladder Capital (LADR) Financials

Ladder Capital logo
$11.50 +0.01 (+0.04%)
Closing price 03:59 PM Eastern
Extended Trading
$11.53 +0.02 (+0.22%)
As of 07:54 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Ladder Capital

Annual Income Statements for Ladder Capital

This table shows Ladder Capital'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		 110 74 67 95 180 123 -14 57 142 101 108
Consolidated Net Income / (Loss)		 98 146 114 126 222 137 -9.46 57 165 101 107
Net Income / (Loss) Continuing Operations		 98 146 114 126 222 137 -9.46 57 165 101 107
Total Pre-Tax Income 		124 161 120 134 228 140 -19 58 170 105 111
Total Revenue		 299 226 265 189 401 175 63 70 349 289 161
Net Interest Income / (Expense)		 110 128 116 118 151 126 12 -6.85 98 162 137
Total Interest Income		 187 242 236 264 345 330 240 176 294 407 137
Investment Securities Interest Income		 187 242 236 264 345 - 240 176 294 407 359
Other Interest Income		 - - - - - 330 - - - - -222
Total Interest Expense		 78 113 121 146 194 204 227 183 196 245 0.00
Total Non-Interest Income		 189 98 149 71 250 49 50 77 251 127 24
Other Service Charges		 12 15 21 18 26 24 13 11 15 8.93 19
Net Realized & Unrealized Capital Gains on Investments		 112 73 51 53 118 25 38 66 128 21 5.45
Provision for Credit Losses		 0.60 0.60 0.30 0.00 14 2.60 18 -8.71 3.71 25 14
Total Non-Interest Expense		 174 88 159 74 159 160 153 126 175 159 160
Salaries and Employee Benefits		 82 62 64 70 60 68 58 38 76 64 61
Other Operating Expenses		 61 -13 55 -37 57 52 56 50 67 66 67
Depreciation Expense		 28 39 39 40 42 39 39 38 33 30 32
Nonoperating Income / (Expense), net		 - 23 14 19 - 127 90 105 - - 124
Income Tax Expense		 27 15 6.32 7.71 6.64 2.65 -9.79 0.93 4.91 4.24 3.45
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 71 47 31 16 15 -0.56 0.37 23 -0.62 -0.81
Basic Earnings per Share		 $0.90 $2.86 $1.08 $2.32 $1.85 $1.16 ($0.13) $0.46 $1.14 $0.81 $0.86
Weighted Average Basic Shares Outstanding		 49.30M 103.40M 62.00M 163.81M 97.23M 105.46M 112.41M 123.76M 124.30M 124.67M 125.58M
Diluted Earnings per Share		 $0.86 $2.84 $1.06 $2.26 $1.84 $1.15 ($0.13) $0.45 $1.13 $0.81 $0.86
Weighted Average Diluted Shares Outstanding		 97.58M 103.74M 107.64M 219.41M 97.65M 106.40M 112.41M 124.56M 125.82M 124.88M 125.79M
Weighted Average Basic & Diluted Shares Outstanding		 99.60M 102.20M 105.30M 111.28M 120.21M 120.98M 126.83M 128.02M 126.50M 126.62M 127.11M

Quarterly Income Statements for Ladder Capital

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 60 22 28 31 19 17 32 28 31 12 17
Consolidated Net Income / (Loss)		 74 22 28 31 19 16 32 28 31 12 17
Net Income / (Loss) Continuing Operations		 74 22 28 31 19 16 32 28 31 12 17
Total Pre-Tax Income 		75 24 28 34 18 18 31 28 33 11 21
Total Revenue		 147 51 48 80 111 45 77 45 33 26 31
Net Interest Income / (Expense)		 37 43 40 39 40 37 34 38 27 20 22
Total Interest Income		 95 104 40 101 162 37 89 38 -32 20 22
Investment Securities Interest Income		 95 104 102 101 101 96 89 96 78 64 63
Other Interest Income		 - - -61 - - -59 - -58 - -44 -41
Total Interest Expense		 57 61 0.00 62 122 0.00 54 0.00 -59 0.00 0.00
Total Non-Interest Income		 110 8.42 7.09 41 71 7.81 42 6.94 5.70 5.77 9.24
Other Service Charges		 2.63 1.64 3.24 1.81 2.24 3.70 3.64 6.61 4.75 5.29 2.80
Net Realized & Unrealized Capital Gains on Investments		 54 6.78 3.85 14 -3.74 4.11 13 0.33 0.94 0.49 6.44
Provision for Credit Losses		 2.34 4.74 6.88 7.47 6.01 5.77 5.06 3.06 0.05 -0.08 -0.04
Total Non-Interest Expense		 42 46 39 38 36 45 41 39 36 41 35
Salaries and Employee Benefits		 17 22 14 14 13 21 14 14 12 19 12
Other Operating Expenses		 17 17 17 17 15 16 19 17 16 14 16
Depreciation Expense		 7.91 7.53 7.47 7.14 7.77 8.30 8.41 8.15 7.47 7.34 8.04
Nonoperating Income / (Expense), net		 - 23 27 - - 24 - 26 36 25 25
Income Tax Expense		 1.01 1.72 0.05 3.15 -0.67 1.93 -1.09 0.90 1.71 -0.84 3.71
Net Income / (Loss) Attributable to Noncontrolling Interest		 15 -0.22 -0.07 -0.12 -0.21 -0.18 -0.22 -0.35 -0.05 -0.22 -0.22
Basic Earnings per Share		 $0.48 $0.36 $0.23 $0.25 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14
Weighted Average Basic Shares Outstanding		 124.30M 248.99M 124.73M 124.73M 124.67M 125.32M 125.73M 125.71M 125.58M 125.63M 125.80M
Diluted Earnings per Share		 $0.47 $0.36 $0.23 $0.25 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14
Weighted Average Diluted Shares Outstanding		 125.82M 249.31M 124.83M 124.97M 124.88M 125.52M 125.84M 125.91M 125.79M 126.28M 126.20M
Weighted Average Basic & Diluted Shares Outstanding		 126.50M 126.95M 126.93M 126.91M 126.62M 127.89M 127.87M 127.64M 127.11M 128.10M 127.46M

Annual Cash Flow Statements for Ladder Capital

This table details how cash moves in and out of Ladder Capital'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		 -2.52 18 -73 93 -84 257 929 -663 38 416 270
Net Cash From Operating Activities		 209 -38 338 12 200 183 112 80 107 181 134
Net Cash From Continuing Operating Activities		 209 -38 338 12 201 184 112 80 107 181 134
Net Income / (Loss) Continuing Operations		 98 146 114 126 222 137 -9.46 57 165 101 107
Consolidated Net Income / (Loss)		 98 146 114 126 222 137 -9.46 57 165 101 107
Provision For Loan Losses		 0.60 0.60 0.30 0.00 14 2.60 18 -8.71 3.71 25 14
Depreciation Expense		 28 39 39 40 42 39 39 38 33 30 32
Amortization Expense		 90 1.14 3.94 0.11 -8.55 -9.58 0.33 4.82 -8.52 -10 -7.62
Non-Cash Adjustments to Reconcile Net Income		 3.97 -214 194 -151 -83 16 101 -13 -116 1.37 -3.94
Changes in Operating Assets and Liabilities, net		 -12 -11 -13 -3.70 15 -1.32 -37 1.66 30 34 -8.22
Net Cash From Investing Activities		 -2,369 35 36 -307 -343 -127 1,542 -651 82 794 933
Net Cash From Continuing Investing Activities		 -2,369 35 36 -307 -343 -127 1,542 -651 82 794 933
Purchase of Property, Leasehold Improvements and Equipment		 -5.19 -8.38 -11 -5.64 - -7.59 -6.10 -4.87 -6.95 -4.37 -6.50
Purchase of Investment Securities		 -3,637 -1,925 -1,969 -1,950 0.00 -1,726 -448 -331 -97 -144 -912
Divestitures		 - - - 0.00 0.00 49 4.00 25 2.28 0.00 0.00
Sale and/or Maturity of Investments		 1,296 1,890 1,946 1,598 4,400 3,011 2,346 1,970 1,418 1,010 2,047
Other Investing Activities, net		 -24 79 69 51 20 -1,452 -354 -2,310 -1,235 -68 -195
Net Cash From Financing Activities		 2,158 22 -448 388 58 201 -726 -91 -150 -558 -797
Net Cash From Continuing Financing Activities		 2,158 22 -448 388 58 201 -726 -91 -150 -558 -797
Issuance of Debt		 16,886 16,280 12,360 10,080 5,807 14,403 10,021 4,519 2,427 921 668
Issuance of Common Equity		 259 - 0.00 0.00 - 0.00 40 0.00 0.19 0.00 0.00
Repayment of Debt		 -14,907 -16,137 -12,689 -9,510 -5,682 -14,023 -10,615 -4,494 -2,413 -1,348 -1,313
Repurchase of Common Equity		 0.00 -0.99 -4.65 -2.59 0.00 -0.64 -3.04 -9.01 -7.92 -2.48 -6.53
Payment of Dividends		 -51 -40 -67 -100 -123 -145 -119 -101 -137 -117 -118
Other Financing Activities, Net		 -31 -80 -47 -80 56 -34 -51 -6.96 -20 -11 -27
Cash Interest Paid		 63 107 115 131 183 195 203 173 178 234 199
Cash Income Taxes Paid		 46 7.31 8.78 -0.21 9.84 0.89 2.20 -2.53 -1.17 -2.40 1.86

Quarterly Cash Flow Statements for Ladder Capital

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 302 101 113 -6.10 208 157 -25 492 -353 -813 -385
Net Cash From Operating Activities		 54 111 -67 78 58 -20 45 169 -60 -29 44
Net Cash From Continuing Operating Activities		 54 111 -67 78 58 -20 45 169 -60 -29 44
Net Income / (Loss) Continuing Operations		 74 22 28 31 19 16 32 28 31 12 17
Consolidated Net Income / (Loss)		 74 22 28 31 19 16 32 28 31 12 17
Provision For Loan Losses		 2.34 4.74 6.88 7.47 6.01 5.77 5.06 3.06 0.05 -0.08 -0.04
Depreciation Expense		 7.91 7.53 7.47 7.14 7.77 8.30 8.41 8.15 7.47 7.34 8.04
Amortization Expense		 -3.41 -4.51 -2.66 -0.75 -2.45 -1.93 -1.90 -1.47 -2.32 -1.43 -1.23
Non-Cash Adjustments to Reconcile Net Income		 -50 1.45 2.84 -5.83 2.92 11 -8.77 2.08 -8.04 -57 65
Changes in Operating Assets and Liabilities, net		 23 80 -110 39 25 -60 10 130 -89 11 -45
Net Cash From Investing Activities		 290 188 335 79 191 337 250 147 199 -374 -406
Net Cash From Continuing Investing Activities		 290 188 335 79 191 337 250 147 199 -374 -406
Purchase of Property, Leasehold Improvements and Equipment		 -1.29 -0.63 -0.87 -1.14 -1.73 -1.37 -0.46 -3.02 -1.65 -0.87 -0.64
Purchase of Investment Securities		 -28 -3.51 -14 -59 -67 -71 -95 -432 -315 -522 -592
Sale and/or Maturity of Investments		 371 225 362 157 267 458 366 584 639 402 346
Other Investing Activities, net		 -51 -33 -12 -17 -7.00 -49 -21 -2.23 -123 -253 -160
Net Cash From Financing Activities		 -42 -198 -155 -164 -41 -160 -320 176 -492 -410 -23
Net Cash From Continuing Financing Activities		 -42 -198 -155 -164 -41 -160 -320 176 -492 -410 -23
Issuance of Debt		 874 601 137 6.13 177 81 61 513 13 0.25 348
Repayment of Debt		 -869 -758 -262 -140 -188 -199 -351 -299 -463 -367 -335
Repurchase of Common Equity		 -1.76 -2.29 - -0.20 - -0.65 -0.21 -1.19 -4.48 -2.32 -6.62
Payment of Dividends		 -58 -30 -29 -29 -29 -31 -29 -29 -29 -31 -29
Other Financing Activities, Net		 13 -9.18 -0.85 -0.74 -0.47 -10 -0.50 -7.78 -8.53 -10 -0.17

Annual Balance Sheets for Ladder Capital

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

Metric 2013 2014 2015 2016 2017 2018 2020 2021 2022 2023 2024
Period end date 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,489 5,814 5,895 5,578 6,026 6,273 5,881 5,851 5,951 5,513 4,845
Cash and Due from Banks		 79 76 109 45 77 68 1,254 549 609 1,016 1,323
Restricted Cash		 29 42 31 45 106 31 30 73 51 15 13
Trading Account Securities		 1,675 2,822 2,444 2,140 36 40 77 24 34 34 1,128
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 2,354 3,554 3,886 3,155 0.00
Premises and Equipment, Net		 624 769 835 822 1,032 998 985 866 700 726 671
Mortgage Servicing Rights		 - - - - - - - - - - 1,591
Other Assets		 642 1,687 1,905 169 1,262 1,635 1,181 818 691 608 119
Total Liabilities & Shareholders' Equity		 3,489 5,814 5,895 5,578 6,026 6,273 5,881 5,851 5,951 5,513 4,845
Total Liabilities		 2,304 4,309 4,404 4,069 4,537 4,629 4,333 4,338 4,418 3,980 3,312
Long-Term Debt		 1,623 4,183 4,275 3,942 4,380 4,453 4,210 4,220 4,246 3,784 3,136
Other Long-Term Liabilities		 - 126 28 127 158 177 52 50 72 99 177
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 8.84 720 663 - - - - - - - -2.09
Total Equity & Noncontrolling Interests		 1,176 785 828 1,510 1,488 1,644 1,548 1,514 1,534 1,532 1,533
Total Preferred & Common Equity		 1,176 785 828 971 1,235 1,445 1,543 1,507 1,533 1,533 1,535
Total Common Equity		 1,176 785 828 971 1,235 1,445 1,543 1,507 1,533 1,533 1,535
Common Stock		 1,176 726 777 992 1,306 1,471 1,780 1,795 1,827 1,757 1,777
Retained Earnings		 0.00 44 61 -11 -39 11 -164 -208 -177 -198 -207
Treasury Stock		 - 0.00 -5.81 -11 -32 -33 -63 -76 -96 -12 -30
Accumulated Other Comprehensive Income / (Loss)		 0.00 16 -3.56 1.37 -0.21 -4.65 -10 -4.11 -21 -14 -4.87

Quarterly Balance Sheets for Ladder Capital

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

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets		 5,843 5,870 5,861 5,629 5,503 5,323 5,048 5,379 4,470 4,457
Cash and Due from Banks		 217 328 626 777 798 1,220 1,196 1,607 480 135
Restricted Cash		 66 29 25 97 60 12 12 12 14 13
Trading Account Securities		 41 36 34 33 33 34 528 47 1,586 2,014
Loans and Leases, Net of Allowance		 4,004 4,019 3,794 3,501 3,372 2,798 0.00 2,040 0.00 0.00
Premises and Equipment, Net		 788 770 693 687 675 734 707 691 655 690
Mortgage Servicing Rights		 - - - - - - 2,539 - 1,665 1,594
Other Assets		 743 706 712 564 603 573 67 1,033 71 12
Total Liabilities & Shareholders' Equity		 5,843 5,870 5,861 5,629 5,503 5,323 5,048 5,379 4,470 4,457
Total Liabilities		 4,333 4,366 4,332 4,097 3,965 3,799 3,520 3,848 2,956 2,957
Long-Term Debt		 4,206 4,238 4,082 3,958 3,794 3,667 3,378 3,585 2,770 2,783
Other Long-Term Liabilities		 49 47 168 58 76 56 142 164 186 174
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - -1.58 - -2.31 -2.55
Total Equity & Noncontrolling Interests		 1,510 1,504 1,529 1,532 1,538 1,524 1,528 1,531 1,514 1,500
Total Preferred & Common Equity		 1,502 1,502 1,529 1,532 1,539 1,525 1,530 1,533 1,517 1,503
Total Common Equity		 1,502 1,502 1,529 1,532 1,539 1,525 1,530 1,533 1,517 1,503
Common Stock		 1,819 1,823 1,836 1,839 1,842 1,767 1,770 1,774 1,778 1,781
Retained Earnings		 -207 -207 -184 -185 -183 -211 -208 -209 -225 -237
Treasury Stock		 -92 -95 -106 -106 -106 -22 -22 -23 -30 -37
Accumulated Other Comprehensive Income / (Loss)		 -18 -19 -18 -17 -15 -9.82 -11 -8.71 -7.22 -5.64

Annual Metrics And Ratios for Ladder Capital

This table displays calculated financial ratios and metrics derived from Ladder Capital'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		 -4.97% -24.44% 17.24% -28.76% 112.49% -56.25% -64.34% 12.33% 396.76% -17.10% -44.27%
EBITDA Growth		 -11.84% -26.81% -15.97% 3.99% 68.50% -83.94% -265.60% 93.96% 4,723.50% -36.06% -90.72%
EBIT Growth		 -35.45% 10.73% -22.95% 8.40% 98.73% -94.26% -931.26% 57.06% 463.51% -38.46% -112.58%
NOPAT Growth		 -48.27% 28.14% -19.74% 7.82% 104.77% -94.19% -693.12% 39.64% 458.79% -39.20% -112.70%
Net Income Growth		 -48.27% 49.69% -22.18% 10.69% 76.10% -38.20% -106.90% 701.53% 190.55% -39.20% 6.91%
EPS Growth		 0.00% 230.23% -62.68% 113.21% -18.58% -37.50% -111.30% 446.15% 151.11% -28.32% 6.17%
Operating Cash Flow Growth		 -56.08% -118.36% 983.46% -96.46% 1,572.37% -8.59% -38.90% -28.77% 33.82% 69.25% -25.85%
Free Cash Flow Firm Growth		 33.07% 101.92% 910.09% -173.28% 97.87% -5,840.75% 270.42% -103.18% 665.56% 372.16% 12.63%
Invested Capital Growth		 66.09% 1.47% -5.54% 7.64% 3.89% 6.60% -11.40% -0.43% 0.80% -8.01% -12.18%
Revenue Q/Q Growth		 3.13% -21.20% 62.29% -34.55% 16.30% -16.73% -27.62% 88.63% 48.00% 33.96% 23.41%
EBITDA Q/Q Growth		 -1.26% -22.49% 20.73% 35.03% -9.88% -45.98% -55.04% 92.92% 97.05% 157.72% 145.28%
EBIT Q/Q Growth		 -3.50% 27.20% 15.64% -8.29% -9.72% -73.91% -34.31% 54.93% 143.38% 255.09% 73.84%
NOPAT Q/Q Growth		 -7.50% 23.54% 1.65% -28.84% -7.71% -89.13% -260.42% 66.53% 39.94% -35.47% -113.41%
Net Income Q/Q Growth		 -7.50% 44.31% 15.13% -17.26% -7.71% 15.71% -119.88% 212.00% 39.94% -35.47% 12.94%
EPS Q/Q Growth		 0.00% 468.00% -55.08% 63.77% -41.40% 13.86% -172.22% 0.00% 54.79% -38.17% 48.28%
Operating Cash Flow Q/Q Growth		 172.99% -179.46% 188.01% -92.60% -27.65% -42.03% -45.91% 60.13% 0.58% 2.21% -46.95%
Free Cash Flow Firm Q/Q Growth		 0.00% 103.90% 252.46% -151.47% 98.39% -456.30% 113.38% -102.56% 134.30% -0.29% 104.05%
Invested Capital Q/Q Growth		 24.49% 0.61% -10.79% 3.59% -3.41% -0.02% -7.67% 8.68% 0.66% -0.30% -8.75%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 81.26% 78.70% 56.41% 82.34% 65.29% 23.98% -111.33% -5.98% 55.70% 42.96% 7.15%
EBIT Margin		 41.56% 60.91% 40.02% 60.90% 56.96% 7.48% -174.35% -66.65% 48.77% 36.21% -8.17%
Profit (Net Income) Margin		 32.66% 64.70% 42.94% 66.73% 55.30% 78.13% -15.12% 80.98% 47.37% 34.74% 66.64%
Tax Burden Percent		 78.58% 90.94% 94.74% 94.23% 97.09% 98.11% 49.14% 98.40% 97.12% 95.95% 96.89%
Interest Burden Percent		 100.00% 116.81% 113.26% 116.28% 100.00% 1,064.63% 17.65% -123.48% 100.00% 100.00% -841.90%
Effective Tax Rate		 21.42% 9.06% 5.26% 5.77% 2.91% 1.89% 0.00% 1.61% 2.88% 4.05% 3.11%
Return on Invested Capital (ROIC)		 2.14% 2.18% 1.79% 1.91% 3.71% 0.20% -1.25% -0.80% 2.87% 1.81% -0.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.14% 2.68% 2.11% 2.34% 3.71% 2.51% 0.02% 1.64% 2.87% 1.81% 3.22%
Return on Net Nonoperating Assets (RNNOA)		 5.11% 7.57% 5.79% 6.49% 10.45% 14.81% 0.15% 4.52% 7.98% 4.74% 7.27%
Return on Equity (ROE)		 7.26% 9.75% 7.58% 8.40% 14.16% 15.02% -1.09% 3.72% 10.85% 6.56% 7.02%
Cash Return on Invested Capital (CROIC)		 -47.53% 0.73% 7.49% -5.44% -0.11% -6.19% 10.84% -0.37% 2.07% 10.16% 12.72%
Operating Return on Assets (OROA)		 2.67% 2.35% 1.85% 1.98% 3.71% 0.20% -1.74% -0.80% 2.88% 1.83% -0.25%
Return on Assets (ROA)		 2.10% 2.50% 1.98% 2.17% 3.60% 2.12% -0.15% 0.97% 2.80% 1.75% 2.07%
Return on Common Equity (ROCE)		 5.29% 5.25% 4.54% 6.18% 12.11% 11.90% -0.98% 3.70% 10.83% 6.56% 7.03%
Return on Equity Simple (ROE_SIMPLE)		 12.43% 17.64% 11.71% 10.19% 15.34% 0.00% -0.61% 3.77% 10.78% 6.56% 7.00%
Net Operating Profit after Tax (NOPAT)		 98 125 100 108 222 13 -76 -46 165 101 -13
NOPAT Margin		 32.66% 55.39% 37.92% 57.39% 55.30% 7.34% -122.04% -65.58% 47.37% 34.74% -7.92%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.50% -0.32% -0.42% 0.00% -2.31% -1.27% -2.44% 0.00% 0.00% -3.47%
SG&A Expenses to Revenue		 27.48% 27.28% 24.27% 37.35% 15.00% 38.65% 92.90% 54.58% 21.73% 21.99% 37.63%
Operating Expenses to Revenue		 58.24% 38.83% 59.86% 39.10% 39.57% 91.04% 245.13% 179.05% 50.16% 55.12% 99.53%
Earnings before Interest and Taxes (EBIT)		 124 138 106 115 228 13 -109 -47 170 105 -13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 243 178 149 155 262 42 -70 -4.20 194 124 12
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.91 0.72 0.82 0.71 0.76 1.02 0.57 0.81 0.70 0.88 0.93
Price to Tangible Book Value (P/TBV)		 0.91 0.72 0.82 0.71 0.76 1.02 0.57 0.81 0.70 0.88 0.93
Price to Revenue (P/Rev)		 2.39 2.63 3.02 4.65 2.74 8.51 14.18 17.29 3.07 4.65 8.86
Price to Earnings (P/E)		 6.47 8.06 11.98 9.20 6.09 12.16 0.00 21.49 7.54 13.31 13.19
Dividend Yield		 0.00% 37.14% 13.50% 17.36% 13.24% 10.92% 12.75% 8.26% 10.39% 8.68% 8.22%
Earnings Yield		 15.45% 12.40% 8.34% 10.86% 16.41% 8.22% 0.00% 4.65% 13.27% 7.51% 7.58%
Enterprise Value to Invested Capital (EV/IC)		 0.97 0.94 0.95 0.91 0.93 0.95 0.66 0.84 0.81 0.77 0.69
Enterprise Value to Revenue (EV/Rev)		 18.39 23.90 19.60 28.24 14.09 35.22 61.05 68.60 13.35 14.16 20.01
Enterprise Value to EBITDA (EV/EBITDA)		 22.63 30.37 34.75 34.30 21.59 146.91 0.00 0.00 23.96 32.97 279.72
Enterprise Value to EBIT (EV/EBIT)		 44.25 39.25 48.97 46.37 24.74 470.88 0.00 0.00 27.37 39.12 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 56.32 43.16 51.69 49.21 25.49 479.97 0.00 0.00 28.18 40.77 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 26.35 0.00 15.34 444.50 28.19 33.71 34.11 60.44 43.65 22.69 24.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 129.73 12.35 0.00 0.00 0.00 5.75 0.00 39.02 7.27 5.08
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.78 2.87 2.61 2.94 2.71 26.89 2.72 2.79 2.77 2.47 2.05
Long-Term Debt to Equity		 2.78 2.87 2.61 2.94 2.71 26.89 2.72 2.79 2.77 2.47 2.05
Financial Leverage		 2.39 2.82 2.74 2.78 2.82 5.90 6.09 2.75 2.78 2.62 2.26
Leverage Ratio		 3.46 3.91 3.82 3.87 3.93 7.09 7.26 3.83 3.87 3.74 3.38
Compound Leverage Factor		 3.46 4.56 4.33 4.50 3.93 75.53 1.28 -4.73 3.87 3.74 -28.47
Debt to Total Capital		 73.54% 74.16% 72.31% 74.64% 73.04% 96.42% 73.11% 73.60% 73.46% 71.18% 67.19%
Short-Term Debt to Total Capital		 0.00% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 73.54% 74.06% 72.31% 74.64% 73.04% 96.42% 73.11% 73.60% 73.46% 71.18% 67.19%
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		 12.65% 11.49% 9.87% 4.31% 3.26% 3.58% 0.09% 0.11% 0.00% -0.02% -0.04%
Common Equity to Total Capital		 13.81% 14.35% 17.82% 21.05% 23.71% 0.00% 26.80% 26.29% 26.53% 28.84% 32.89%
Debt to EBITDA		 17.22 24.08 26.39 28.20 17.01 115.59 -60.46 -1,003.74 21.84 30.45 271.91
Net Debt to EBITDA		 16.73 23.29 25.79 27.02 16.64 107.13 -42.02 -855.89 18.45 22.15 156.05
Long-Term Debt to EBITDA		 17.22 24.05 26.39 28.20 17.01 115.59 -60.46 -1,003.74 21.84 30.45 271.91
Debt to NOPAT		 42.85 34.21 39.26 40.46 20.09 377.66 -55.16 -91.59 25.68 37.65 -245.69
Net Debt to NOPAT		 41.63 33.10 38.37 38.77 19.64 350.01 -38.33 -78.10 21.69 27.39 -141.00
Long-Term Debt to NOPAT		 42.85 34.17 39.26 40.46 20.09 377.66 -55.16 -91.59 25.68 37.65 -245.69
Noncontrolling Interest Sharing Ratio		 27.08% 46.16% 40.04% 26.40% 14.42% 20.78% 10.76% 0.39% 0.22% -0.02% -0.16%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2,166 42 420 -308 -6.56 -390 664 -21 119 564 635
Operating Cash Flow to CapEx		 4,019.11% -457.40% 3,180.70% 212.50% 0.00% 2,413.16% 1,834.23% 1,636.34% 1,535.62% 4,129.04% 2,061.27%
Free Cash Flow to Firm to Interest Expense		 -27.92 0.37 3.48 -2.11 -0.03 -1.91 2.92 -0.12 0.61 2.30 0.00
Operating Cash Flow to Interest Expense		 2.69 -0.34 2.80 0.08 1.03 0.90 0.49 0.44 0.55 0.74 0.00
Operating Cash Flow Less CapEx to Interest Expense		 2.62 -0.41 2.71 0.04 1.07 0.86 0.47 0.41 0.51 0.72 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.06 0.04 0.05 0.03 0.07 0.03 0.01 0.01 0.06 0.05 0.03
Fixed Asset Turnover		 0.43 0.28 0.32 0.20 0.39 0.17 0.06 0.08 0.45 0.41 0.23
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,688 5,772 5,452 5,868 6,096 6,499 5,758 5,733 5,779 5,316 4,669
Invested Capital Turnover		 0.07 0.04 0.05 0.03 0.07 0.03 0.01 0.01 0.06 0.05 0.03
Increase / (Decrease) in Invested Capital		 2,263 83 -320 416 228 403 -741 -25 46 -463 -648
Enterprise Value (EV)		 5,498 5,399 5,191 5,327 5,650 6,176 3,818 4,819 4,658 4,098 3,226
Market Capitalization		 714 595 800 877 1,097 1,492 887 1,215 1,072 1,346 1,428
Book Value per Share		 $7.92 $8.34 $8.86 $11.15 $12.99 $0.00 $12.83 $12.01 $12.12 $12.08 $12.03
Tangible Book Value per Share		 $7.92 $8.34 $8.86 $11.15 $12.99 $0.00 $12.83 $12.01 $12.12 $12.08 $12.03
Total Capital		 5,688 5,772 5,452 5,868 6,096 5,041 5,758 5,733 5,779 5,316 4,666
Total Debt		 4,183 4,280 3,942 4,380 4,453 4,860 4,210 4,220 4,246 3,784 3,136
Total Long-Term Debt		 4,183 4,275 3,942 4,380 4,453 4,860 4,210 4,220 4,246 3,784 3,136
Net Debt		 4,064 4,140 3,853 4,197 4,354 4,504 2,926 3,598 3,586 2,753 1,800
Capital Expenditures (CapEx)		 5.19 8.38 11 5.64 -7.78 7.59 6.10 4.87 6.95 4.37 6.50
Net Nonoperating Expense (NNE)		 0.00 -21 -13 -18 0.00 -124 -67 -103 0.00 0.00 -120
Net Nonoperating Obligations (NNO)		 4,183 4,280 3,942 4,380 4,453 6,318 4,210 4,220 4,246 3,784 3,138
Total Depreciation and Amortization (D&A)		 119 40 43 40 33 29 39 43 24 20 25
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.90 $2.86 $1.08 $1.16 $1.85 $2.32 ($0.13) $0.46 $1.14 $0.81 $0.86
Adjusted Weighted Average Basic Shares Outstanding		 49.30M 103.40M 62.00M 81.90M 97.23M 210.91M 112.41M 123.76M 124.30M 124.67M 125.58M
Adjusted Diluted Earnings per Share		 $0.86 $2.84 $1.06 $1.13 $1.84 $2.30 ($0.13) $0.45 $1.13 $0.81 $0.86
Adjusted Weighted Average Diluted Shares Outstanding		 97.58M 103.74M 107.64M 109.70M 97.65M 212.80M 112.41M 124.56M 125.82M 124.88M 125.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $1.08 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 99.60M 109.91M 110.73M 111.28M 120.21M 120.98M 126.83M 128.02M 126.50M 126.62M 127.11M
Normalized Net Operating Profit after Tax (NOPAT)		 100 125 100 108 222 14 -76 -46 165 101 -13
Normalized NOPAT Margin		 33.29% 55.39% 37.92% 57.39% 55.30% 8.09% -122.04% -65.58% 47.37% 34.74% -7.92%
Pre Tax Income Margin		 41.56% 71.15% 45.33% 70.82% 56.96% 79.64% -30.78% 82.30% 48.77% 36.21% 68.78%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.60 1.21 0.88 0.79 1.18 0.06 -0.48 -0.26 0.87 0.43 0.00
NOPAT to Interest Expense		 1.26 1.10 0.83 0.74 1.14 0.06 -0.34 -0.25 0.85 0.41 0.00
EBIT Less CapEx to Interest Expense		 1.53 1.14 0.79 0.75 1.22 0.03 -0.51 -0.28 0.83 0.41 0.00
NOPAT Less CapEx to Interest Expense		 1.19 1.03 0.74 0.70 1.18 0.03 -0.36 -0.28 0.81 0.39 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 51.73% 27.33% 59.06% 79.50% 55.38% 105.50% -1,257.01% 176.74% 82.61% 116.38% 109.86%
Augmented Payout Ratio		 51.73% 28.01% 63.15% 81.56% 55.38% 105.96% -1,289.10% 192.57% 87.39% 118.85% 115.94%

Quarterly Metrics And Ratios for Ladder Capital

This table displays calculated financial ratios and metrics derived from Ladder Capital's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 331.03% -30.83% -43.26% 84.02% -25.02% -12.67% -20.07% -43.14% -70.22% -41.93% -59.89%
EBITDA Growth		 908.09% -87.02% -87.46% 372.40% -31.67% -80.71% -117.99% -76.62% -96.64% -1,351.47% -94.29%
EBIT Growth		 6,179.27% -97.23% -96.57% 950.54% -33.84% -1,250.30% -587.15% -91.71% -103.90% -152.67% -115.03%
NOPAT Growth		 2,047.66% -97.60% -96.37% 941.19% -74.38% -1,209.47% -605.07% -91.16% -113.30% -204.35% -111.93%
Net Income Growth		 174.28% 15.86% -34.99% 8.75% -74.38% -25.96% 14.36% -11.65% 64.70% -29.67% -46.75%
EPS Growth		 571.43% 140.00% -17.86% 8.70% -106.38% -63.89% 13.04% -12.00% 933.33% -30.77% -46.15%
Operating Cash Flow Growth		 1.15% 470.93% -253.06% 104.12% 7.17% -118.29% 167.45% 116.36% -202.95% -40.99% -3.00%
Free Cash Flow Firm Growth		 -0.37% 145.25% 228.64% 195.15% 1,602.58% 71.51% 152.20% -50.37% 33.79% 114.78% 0.72%
Invested Capital Growth		 0.80% -4.13% -3.96% -7.13% -8.01% -7.49% -10.62% -4.05% -12.18% -17.47% -12.70%
Revenue Q/Q Growth		 240.04% 38.47% -7.56% 67.62% 38.56% -59.33% -15.39% 19.25% -27.43% -20.69% 17.91%
EBITDA Q/Q Growth		 1,149.94% 245.81% 81.62% 538.36% 80.79% -99.08% -269.32% 929.79% -74.01% -442.69% 125.27%
EBIT Q/Q Growth		 3,059.80% 107.16% 217.58% 2,084.61% 98.99% -108.33% -34.49% 137.19% -193.68% -439.24% 67.57%
NOPAT Q/Q Growth		 2,378.37% -99.38% 241.63% 1,887.66% -39.02% -126.79% -55.52% 134.79% -191.73% -513.16% 75.29%
Net Income Q/Q Growth		 158.86% -70.11% 26.59% 11.05% -39.02% -13.63% 95.53% -14.20% 13.67% -63.12% 48.06%
EPS Q/Q Growth		 104.35% -23.40% -36.11% 8.70% -112.00% 533.33% 100.00% -15.38% 13.64% -64.00% 55.56%
Operating Cash Flow Q/Q Growth		 42.40% 104.44% -160.43% 216.04% -25.24% -134.89% 322.85% 272.22% -135.57% 52.22% 253.32%
Free Cash Flow Firm Q/Q Growth		 106.11% 754.39% -5.76% 93.27% 9.40% -13.93% 38.58% -61.96% 194.91% 38.17% -30.49%
Invested Capital Q/Q Growth		 0.66% -2.91% -2.16% -2.87% -0.30% -2.36% -5.48% 4.27% -8.75% -8.23% -0.02%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 73.14% 6.83% 13.41% 51.08% 66.65% 1.51% -3.02% 21.01% 7.52% -32.51% 6.97%
EBIT Margin		 70.09% 0.96% 3.30% 43.06% 61.84% -12.67% -20.14% 6.28% -8.11% -55.12% -15.16%
Profit (Net Income) Margin		 50.38% 43.12% 59.04% 39.11% 17.21% 36.55% 84.47% 60.77% 95.20% 44.27% 55.59%
Tax Burden Percent		 98.66% 92.81% 99.84% 90.84% 103.65% 89.51% 103.51% 96.83% 94.82% 107.82% 82.16%
Interest Burden Percent		 72.86% 4,830.51% 1,789.95% 100.00% 26.86% -322.36% -405.28% 999.40% -1,238.42% -74.49% -446.25%
Effective Tax Rate		 1.34% 7.19% 0.16% 9.16% -3.65% 10.49% -3.51% 3.17% 5.18% -7.82% 17.84%
Return on Invested Capital (ROIC)		 3.05% 0.03% 0.11% 1.53% 0.90% -0.59% -0.66% 0.15% -0.25% -1.79% -0.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.05% 0.55% 0.76% 1.53% 0.90% -0.04% 0.43% 0.82% 0.73% -0.95% 0.42%
Return on Net Nonoperating Assets (RNNOA)		 8.49% 1.52% 2.03% 4.03% 2.35% -0.10% 1.03% 1.98% 1.65% -2.01% 0.85%
Return on Equity (ROE)		 11.54% 1.56% 2.13% 5.55% 3.25% -0.69% 0.37% 2.13% 1.40% -3.79% 0.59%
Cash Return on Invested Capital (CROIC)		 2.07% 7.15% 6.78% 10.21% 10.16% 9.53% 10.86% 5.96% 12.72% 18.68% 15.47%
Operating Return on Assets (OROA)		 4.15% 0.04% 0.10% 1.64% 3.12% -0.64% -0.62% 0.15% -0.25% -1.60% -0.31%
Return on Assets (ROA)		 2.98% 1.57% 1.85% 1.49% 0.87% 1.85% 2.61% 1.46% 2.96% 1.29% 1.13%
Return on Common Equity (ROCE)		 11.52% 1.55% 2.13% 5.55% 3.25% -0.69% 0.37% 2.14% 1.40% -3.80% 0.59%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 11.01% 10.00% 10.12% 0.00% 6.21% 6.46% 6.21% 0.00% 6.76% 5.83%
Net Operating Profit after Tax (NOPAT)		 74 0.46 1.57 31 19 -5.10 -7.93 2.76 -2.53 -16 -3.83
NOPAT Margin		 50.38% 0.89% 3.30% 39.11% 17.21% -11.34% -20.84% 6.08% -7.69% -59.44% -12.46%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.52% -0.65% 0.00% 0.00% -0.56% -1.09% -0.67% -0.98% -0.84% -0.68%
SG&A Expenses to Revenue		 11.31% 42.91% 29.93% 17.91% 11.77% 46.25% 36.08% 31.77% 35.72% 71.88% 37.57%
Operating Expenses to Revenue		 28.32% 89.84% 82.23% 47.57% 32.73% 99.84% 106.84% 86.97% 107.96% 155.44% 115.30%
Earnings before Interest and Taxes (EBIT)		 103 0.50 1.57 34 68 -5.69 -7.66 2.85 -2.67 -14 -4.67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 108 3.51 6.38 41 74 0.68 -1.15 9.53 2.48 -8.49 2.14
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.70 0.70 0.83 0.78 0.88 0.85 0.94 0.97 0.93 0.96 0.92
Price to Tangible Book Value (P/TBV)		 0.70 0.70 0.83 0.78 0.88 0.85 0.94 0.97 0.93 0.96 0.92
Price to Revenue (P/Rev)		 3.07 4.98 7.05 5.56 4.65 4.61 8.75 11.35 8.86 10.19 14.28
Price to Earnings (P/E)		 7.54 7.39 9.13 8.49 13.31 13.66 14.51 15.43 13.19 14.02 15.58
Dividend Yield		 10.39% 10.70% 9.22% 9.72% 8.68% 8.96% 8.15% 7.93% 8.22% 8.06% 8.56%
Earnings Yield		 13.27% 13.54% 10.95% 11.78% 7.51% 7.32% 6.89% 6.48% 7.58% 7.13% 6.42%
Enterprise Value to Invested Capital (EV/IC)		 0.81 0.80 0.79 0.78 0.77 0.72 0.74 0.67 0.69 0.87 0.94
Enterprise Value to Revenue (EV/Rev)		 13.35 20.88 24.23 19.15 14.16 13.21 21.89 26.38 20.01 26.16 41.57
Enterprise Value to EBITDA (EV/EBITDA)		 23.96 74.35 270.01 85.77 32.97 30.76 629.10 0.00 279.72 1,572.07 0.00
Enterprise Value to EBIT (EV/EBIT)		 27.37 105.63 0.00 140.22 39.12 37.91 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 28.18 26.77 28.39 26.56 40.77 39.43 0.00 36.23 0.00 0.00 45.79
Enterprise Value to Operating Cash Flow (EV/OCF)		 43.65 18.16 31.79 23.41 22.69 76.52 22.36 13.66 24.09 29.66 32.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 39.02 11.00 11.46 7.32 7.27 7.26 6.40 11.08 5.08 4.21 5.64
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.77 2.67 2.58 2.47 2.47 2.41 2.21 2.34 2.05 1.83 1.86
Long-Term Debt to Equity		 2.77 2.67 2.58 2.47 2.47 2.41 2.21 2.34 2.05 1.83 1.86
Financial Leverage		 2.78 2.77 2.68 2.64 2.62 2.54 2.40 2.40 2.26 2.12 2.04
Leverage Ratio		 3.87 3.90 3.77 3.74 3.74 3.66 3.49 3.55 3.38 3.23 3.14
Compound Leverage Factor		 2.82 188.19 67.52 3.74 1.00 -11.81 -14.15 35.44 -41.88 -2.40 -14.03
Debt to Total Capital		 73.46% 72.76% 72.10% 71.15% 71.18% 70.64% 68.87% 70.08% 67.19% 64.69% 65.02%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 73.46% 72.76% 72.10% 71.15% 71.18% 70.64% 68.87% 70.08% 67.19% 64.69% 65.02%
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% -0.01% -0.01% -0.01% -0.02% -0.03% -0.03% -0.04% -0.04% -0.05% -0.06%
Common Equity to Total Capital		 26.53% 27.25% 27.91% 28.86% 28.84% 29.38% 31.19% 29.96% 32.89% 35.42% 35.10%
Debt to EBITDA		 21.84 67.36 245.69 78.67 30.45 30.19 588.21 -140.76 271.91 1,169.17 -84.25
Net Debt to EBITDA		 18.45 56.61 191.44 60.88 22.15 20.05 377.96 -77.18 156.05 960.85 -79.76
Long-Term Debt to EBITDA		 21.84 67.36 245.69 78.67 30.45 30.19 588.21 -140.76 271.91 1,169.17 -84.25
Debt to NOPAT		 25.68 24.25 25.83 24.36 37.65 38.71 -185.19 37.68 -245.69 -127.52 31.79
Net Debt to NOPAT		 21.69 20.38 20.13 18.85 27.39 25.70 -119.00 20.66 -141.00 -104.80 30.09
Long-Term Debt to NOPAT		 25.68 24.25 25.83 24.36 37.65 38.71 -185.19 37.68 -245.69 -127.52 31.79
Noncontrolling Interest Sharing Ratio		 0.22% 0.20% 0.23% 0.04% -0.02% -0.05% -0.12% -0.09% -0.16% -0.19% -0.27%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 28 242 228 441 482 415 575 219 645 891 620
Operating Cash Flow to CapEx		 4,217.80% 17,797.12% -7,738.05% 6,828.32% 3,367.88% -1,483.98% 9,913.97% 5,605.67% -3,641.49% -3,294.38% 6,936.22%
Free Cash Flow to Firm to Interest Expense		 0.49 3.98 0.00 7.08 3.95 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.95 1.83 0.00 1.25 0.48 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.93 1.82 0.00 1.24 0.46 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.06 0.04 0.03 0.04 0.05 0.05 0.03 0.02 0.03 0.03 0.02
Fixed Asset Turnover		 0.45 0.29 0.24 0.30 0.41 0.40 0.24 0.19 0.23 0.21 0.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,779 5,611 5,490 5,332 5,316 5,191 4,907 5,116 4,669 4,284 4,283
Invested Capital Turnover		 0.06 0.04 0.03 0.04 0.05 0.05 0.03 0.03 0.03 0.03 0.02
Increase / (Decrease) in Invested Capital		 46 -241 -226 -410 -463 -420 -583 -216 -648 -907 -623
Enterprise Value (EV)		 4,658 4,506 4,350 4,136 4,098 3,736 3,613 3,447 3,226 3,724 4,009
Market Capitalization		 1,072 1,076 1,266 1,201 1,346 1,303 1,444 1,483 1,428 1,450 1,377
Book Value per Share		 $12.12 $12.09 $12.07 $12.12 $12.08 $12.17 $11.96 $11.99 $12.03 $11.93 $11.73
Tangible Book Value per Share		 $12.12 $12.09 $12.07 $12.12 $12.08 $12.17 $11.96 $11.99 $12.03 $11.93 $11.73
Total Capital		 5,779 5,611 5,490 5,332 5,316 5,191 4,905 5,116 4,666 4,282 4,281
Total Debt		 4,246 4,082 3,958 3,794 3,784 3,667 3,378 3,585 3,136 2,770 2,783
Total Long-Term Debt		 4,246 4,082 3,958 3,794 3,784 3,667 3,378 3,585 3,136 2,770 2,783
Net Debt		 3,586 3,431 3,084 2,936 2,753 2,435 2,171 1,966 1,800 2,276 2,635
Capital Expenditures (CapEx)		 1.29 0.63 0.87 1.14 1.73 1.37 0.46 3.02 1.65 0.87 0.64
Net Nonoperating Expense (NNE)		 0.00 -22 -27 0.00 0.00 -22 -40 -25 -34 -27 -21
Net Nonoperating Obligations (NNO)		 4,246 4,082 3,958 3,794 3,784 3,667 3,380 3,585 3,138 2,772 2,786
Total Depreciation and Amortization (D&A)		 4.50 3.02 4.81 6.40 5.32 6.37 6.51 6.68 5.14 5.90 6.81
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.48 $0.18 $0.23 $0.50 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14
Adjusted Weighted Average Basic Shares Outstanding		 124.30M 124.49M 124.73M 249.46M 124.67M 125.32M 125.73M 125.71M 125.58M 125.63M 125.80M
Adjusted Diluted Earnings per Share		 $0.47 $0.18 $0.23 $0.50 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14
Adjusted Weighted Average Diluted Shares Outstanding		 125.82M 124.66M 124.83M 249.94M 124.88M 125.52M 125.84M 125.91M 125.79M 126.28M 126.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 126.50M 126.95M 126.93M 126.91M 126.62M 127.89M 127.87M 127.64M 127.11M 128.10M 127.46M
Normalized Net Operating Profit after Tax (NOPAT)		 74 0.46 1.57 31 13 -5.10 -5.36 2.76 -2.53 -10 -3.83
Normalized NOPAT Margin		 50.38% 0.89% 3.30% 39.11% 11.63% -11.34% -14.10% 6.08% -7.69% -38.59% -12.46%
Pre Tax Income Margin		 51.07% 46.46% 59.14% 43.06% 16.61% 40.84% 81.61% 62.76% 100.40% 41.06% 67.66%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.80 0.01 0.00 0.55 0.56 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 1.29 0.01 0.00 0.50 0.16 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 1.78 0.00 0.00 0.53 0.55 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 1.27 0.00 0.00 0.48 0.14 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 82.61% 66.07% 75.03% 74.67% 116.38% 124.05% 118.73% 123.50% 109.86% 114.91% 134.64%
Augmented Payout Ratio		 87.39% 71.77% 78.65% 77.39% 118.85% 124.94% 119.80% 125.66% 115.94% 122.90% 151.33%

Key Financial Trends

Ladder Capital (NYSE: LADR) has demonstrated notable financial trends over the past four years, based on the quarterly income statements, cash flow statements, and balance sheets analyzed.

  • Net income has shown resilience with Q2 2025 reporting $17.1 million, an increase from $11.6 million in Q1 2025 and consistent growth compared to prior quarters in 2024 and 2023.
  • Net interest income remains positive and has increased, with $21.5 million recorded in Q2 2025 versus $20.3 million in Q1 2025, reflecting improved earnings from investment securities.
  • Non-interest income is contributing positively, with $9.2 million in Q2 2025, led by net realized and unrealized capital gains of $6.4 million, which indicates diversification of revenue streams beyond interest.
  • Cash and equivalents decreased to about $135 million in Q2 2025 from $480 million in Q1 2025, in part due to investment activities, but overall operating cash flows remain positive at $44 million for Q2 2025, supporting ongoing operations.
  • Long-term debt levels have remained relatively stable, from $4.1 billion in early 2023 down to $2.8 billion by Q2 2025, indicating potential debt repayment or refinancing strategies to manage leverage.
  • Total assets have fluctuated but remain strong at approximately $4.46 billion in Q2 2025 compared to higher levels in 2023 (~$5.5 billion), possibly reflecting portfolio rebalancing or asset sales.
  • Depreciation and amortization expenses remain significant but relatively steady around $7-8 million per quarter, consistent with the company’s investment in premises and equipment.
  • Negative other interest income in Q2 2025 (approximately -$41.2 million) offsets some of the positive investment securities income, signaling costs or losses in other interest sources that may require monitoring.
  • Net cash used in investing activities is substantial (around -$406 million in Q2 2025), primarily driven by large purchases of investment securities, indicating aggressive portfolio growth that could increase risk exposure.
  • Repayments of debt and repurchase of common equity have continued, with $335 million in debt repayments and $6.6 million in equity repurchases in Q2 2025; these outflows may pressure liquidity if not balanced by financial inflows.

Summary: Ladder Capital shows consistent profitability growth and stable net interest income, with active portfolio management reflected in investment securities purchases and sales. The company maintains a strong asset base and manages debt levels downward. However, negative other interest income and significant investing cash outflows introduce elements of risk. Investors should monitor the impact of these investing activities and interest income fluctuations on liquidity and earnings going forward.

08/28/25 10:28 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Ladder Capital's Financials

When does Ladder Capital's financial year end?

According to the most recent income statement we have on file, Ladder Capital's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ladder Capital's net income changed over the last 10 years?

Ladder Capital's net income appears to be on a downward trend, with a most recent value of $107.45 million in 2024, rising from $97.63 million in 2014. The previous period was $100.50 million in 2023. See where experts think Ladder Capital is headed by visiting Ladder Capital's forecast page.

How has Ladder Capital's revenue changed over the last 10 years?

Over the last 10 years, Ladder Capital's total revenue changed from $298.92 million in 2014 to $161.24 million in 2024, a change of -46.1%.

How much debt does Ladder Capital have?

Ladder Capital's total liabilities were at $3.31 billion at the end of 2024, a 16.8% decrease from 2023, and a 43.8% increase since 2013.

How much cash does Ladder Capital have?

In the past 10 years, Ladder Capital's cash and equivalents has ranged from $44.62 million in 2016 to $1.32 billion in 2024, and is currently $1.32 billion as of their latest financial filing in 2024.

How has Ladder Capital's book value per share changed over the last 10 years?

Over the last 10 years, Ladder Capital's book value per share changed from 7.92 in 2014 to 12.03 in 2024, a change of 51.8%.


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This page (NYSE:LADR) was last updated on 8/28/2025 by MarketBeat.com Staff
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