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.
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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
Analyzing Ladder Capital Corp's (NYSE: LADR) last four years of quarterly financial data reveals several key trends and important highlights for investors:
- Consistent Net Income Growth: Ladder Capital has demonstrated a generally positive trend in consolidated net income, with Q2 2025 reporting $17.1 million, up from $16.4 million in Q1 2024 and improving from previous lower earnings in 2023 and 2022, suggesting growing profitability.
- Strong Operating Cash Flow: The company generated a solid $44.0 million net cash from operating activities in Q2 2025, indicating healthy cash generation from core operations compared to negative cash flows in earlier quarters such as Q1 2025 (-$28.7 million) and Q4 2024 (-$60.1 million).
- Robust Non-Interest Income: Non-interest income components like net realized and unrealized capital gains and other service charges contributed positively, with $9.2 million in Q2 2025, supporting diversification of revenue beyond interest income.
- Stable Equity Base: Total common equity stood at approximately $1.5 billion by Q2 2025, reflecting a stable capital foundation to support growth and absorb potential losses.
- Improving Earnings Per Share (EPS): Diluted EPS grew from $0.09 in Q1 2025 to $0.14 in Q2 2025, indicating enhanced profitability on a per-share basis.
- Interest Income Volatility: Total interest income has fluctuated across quarters, with Q2 2025 showing $21.5 million net interest income, influenced by swings in investment securities interest income and other interest income. Monitoring this variability is important as it materially impacts total revenue.
- Capex and Investment Securities Activity: Ladder Capital continues significant investment in securities, with large purchases (e.g., -$591.7 million in Q2 2025) and sizable sales/ maturities (e.g., $346.3 million in Q2 2025). The heavy investment turnover implies active portfolio management but also affects cash flow volatility.
- Leverage Levels: Long-term debt remains high at approximately $2.78 billion in Q2 2025, consistent with prior quarters. Investors should assess how debt levels and interest rates impact financial flexibility and risk.
- Dividend and Share Repurchase Activity: Ladder Capital consistently pays dividends (e.g., $29.0 million in Q2 2025) and repurchases common equity (e.g., $6.6 million in Q2 2025), reflecting a focus on shareholder returns. These outflows may limit available cash for reinvestment.
- Negative Net Cash from Financing & Investing Activities: In Q2 2025, net cash from investing activities was significantly negative (-$405.6 million), and net cash from financing activities also negative (-$23.5 million), which contributed to a substantial cash decline (-$385 million). This could pressure liquidity if sustained.
- Operating Expense Pressure: Salaries, employee benefits, and other operating expenses remain sizable, with nearly $31.4 million combined in Q2 2025, higher than some prior quarters, reducing operating margins.
- Interest Expense Impact: Although total interest expense was reported as zero in recent quarters, historical data showed significant interest expenses (e.g., $54.2 million in Q2 2024). Fluctuations here could impact net interest income and earnings.
In summary, Ladder Capital is showing positive earnings growth and stable equity with solid cash flow from operations, backed by active portfolio management. However, investors should monitor the higher leverage, cash outflows from investing activities, and operating expense pressures that could impact near-term liquidity and profitability. Overall, the company's financial health appears improving, but sustaining cash reserves and managing debt costs remain key considerations.
10/19/25 12:40 AM ETAI Generated. May Contain Errors.