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Ladder Capital (LADR) Financials

Ladder Capital logo
$10.26 +0.01 (+0.05%)
Closing price 05/8/2026 03:59 PM Eastern
Extended Trading
$10.27 +0.00 (+0.02%)
As of 05/8/2026 08:00 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 Massive. 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 74 67 95 180 123 -14 57 142 101 108 64
Consolidated Net Income / (Loss)		 146 114 126 222 137 -9.46 57 165 101 107 64
Net Income / (Loss) Continuing Operations		 146 114 126 222 137 -9.46 57 165 101 107 64
Total Pre-Tax Income 		161 120 134 228 140 -19 58 170 105 111 67
Total Revenue		 226 265 189 401 175 63 70 349 181 161 215
Net Interest Income / (Expense)		 128 116 118 151 126 12 -6.85 98 162 137 92
Total Interest Income		 242 236 264 345 330 240 176 294 162 137 267
Investment Securities Interest Income		 242 236 264 345 - 240 176 294 407 359 267
Total Interest Expense		 113 121 146 194 204 227 183 196 0.00 0.00 175
Long-Term Debt Interest Expense		 113 121 146 194 - - 183 196 - - 175
Total Non-Interest Income		 98 149 71 250 49 50 77 251 19 24 123
Other Service Charges		 15 21 18 26 24 13 11 15 8.93 19 15
Net Realized & Unrealized Capital Gains on Investments		 73 51 53 118 25 38 66 128 9.77 5.45 9.09
Other Non-Interest Income		 9.91 77 - 106 - - - 108 - - 99
Provision for Credit Losses		 0.60 0.30 0.00 14 2.60 18 -8.71 3.71 25 14 -0.16
Total Non-Interest Expense		 88 159 74 159 160 153 126 175 159 160 148
Salaries and Employee Benefits		 62 64 70 60 68 58 38 76 64 61 53
Other Operating Expenses		 -13 55 -37 57 52 56 50 67 66 67 64
Depreciation Expense		 39 39 40 42 39 39 38 33 30 32 32
Income Tax Expense		 15 6.32 7.71 6.64 2.65 -9.79 0.93 4.91 4.24 3.45 3.49
Net Income / (Loss) Attributable to Noncontrolling Interest		 71 47 31 16 15 -0.56 0.37 23 -0.62 -0.81 -0.49
Basic Earnings per Share		 $2.86 $1.08 $2.32 $1.85 $1.16 ($0.13) $0.46 $1.14 $1.62 $0.86 $0.51
Weighted Average Basic Shares Outstanding		 103.40M 62.00M 163.81M 97.23M 105.46M 112.41M 123.76M 124.30M 249.34M 125.58M 125.48M
Diluted Earnings per Share		 $2.84 $1.06 $2.26 $1.84 $1.15 ($0.13) $0.45 $1.13 $1.62 $0.86 $0.51
Weighted Average Diluted Shares Outstanding		 103.74M 107.64M 219.41M 97.65M 106.40M 112.41M 124.56M 125.82M 249.76M 125.79M 126.19M
Weighted Average Basic & Diluted Shares Outstanding		 102.20M 105.30M 111.28M 120.21M 120.98M 126.83M 128.02M 126.50M 126.62M 127.11M 127.23M

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 31 19 17 32 28 31 12 17 19 16 2.61
Consolidated Net Income / (Loss)		 31 19 16 32 28 31 12 17 19 16 2.60
Net Income / (Loss) Continuing Operations		 31 19 16 32 28 31 12 17 19 16 2.60
Total Pre-Tax Income 		34 18 18 31 28 33 11 21 20 16 3.17
Total Revenue		 80 111 45 77 45 33 26 31 57 101 25
Net Interest Income / (Expense)		 39 40 37 34 38 27 20 22 28 22 23
Total Interest Income		 101 162 37 89 38 -32 20 22 72 153 23
Investment Securities Interest Income		 101 101 96 89 96 78 64 63 72 68 74
Other Interest Income		 - - -59 - -58 - -44 -41 - - -51
Total Interest Expense		 62 122 0.00 54 0.00 -59 0.00 0.00 44 131 0.00
Total Non-Interest Income		 41 71 7.81 42 6.94 5.70 5.77 9.24 30 79 1.83
Other Service Charges		 1.81 2.24 3.70 3.64 6.61 4.75 5.29 2.80 3.86 3.04 1.41
Net Realized & Unrealized Capital Gains on Investments		 14 -3.74 4.11 13 0.33 0.94 0.49 6.44 -0.88 3.05 0.42
Provision for Credit Losses		 7.47 6.01 5.77 5.06 3.06 0.05 -0.08 -0.04 -0.03 -0.00 -0.03
Total Non-Interest Expense		 38 36 45 41 39 36 41 35 37 35 49
Salaries and Employee Benefits		 14 13 21 14 14 12 19 12 12 11 22
Other Operating Expenses		 17 15 16 19 17 16 14 16 18 16 18
Depreciation Expense		 7.14 7.77 8.30 8.41 8.15 7.47 7.34 8.04 8.24 8.38 8.91
Nonoperating Income / (Expense), net		 - - 24 - 26 36 25 25 - - 27
Income Tax Expense		 3.15 -0.67 1.93 -1.09 0.90 1.71 -0.84 3.71 0.96 -0.34 0.57
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.12 -0.21 -0.18 -0.22 -0.35 -0.05 -0.22 -0.22 -0.02 -0.03 -0.00
Basic Earnings per Share		 $0.25 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14 $0.15 $0.13 $0.02
Weighted Average Basic Shares Outstanding		 124.73M 124.67M 125.32M 125.73M 125.71M 125.58M 125.63M 125.80M 125.34M 125.48M 125.40M
Diluted Earnings per Share		 $0.25 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14 $0.15 $0.13 $0.02
Weighted Average Diluted Shares Outstanding		 124.97M 124.88M 125.52M 125.84M 125.91M 125.79M 126.28M 126.20M 126.12M 126.19M 126.02M
Weighted Average Basic & Diluted Shares Outstanding		 126.91M 126.62M 127.89M 127.87M 127.64M 127.11M 128.10M 127.46M 127.32M 127.23M 127.67M

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 18 -73 93 -84 257 929 -663 38 416 270 -1,293
Net Cash From Operating Activities		 -38 338 12 200 183 112 80 107 181 134 87
Net Cash From Continuing Operating Activities		 -38 338 12 201 184 112 80 107 181 134 87
Net Income / (Loss) Continuing Operations		 146 114 126 222 137 -9.46 57 165 101 107 64
Consolidated Net Income / (Loss)		 146 114 126 222 137 -9.46 57 165 101 107 64
Provision For Loan Losses		 0.60 0.30 0.00 14 2.60 18 -8.71 3.71 25 14 -0.16
Depreciation Expense		 39 39 40 42 39 39 38 33 30 32 32
Amortization Expense		 1.14 3.94 0.11 -8.55 -9.58 0.33 4.82 -8.52 8.68 7.00 -3.50
Non-Cash Adjustments to Reconcile Net Income		 -214 194 -151 -83 16 101 -13 -116 -19 -19 12
Changes in Operating Assets and Liabilities, net		 -11 -13 -3.70 15 -1.32 -37 1.66 30 36 -7.89 -17
Net Cash From Investing Activities		 35 36 -307 -343 -127 1,542 -651 82 794 933 -1,607
Net Cash From Continuing Investing Activities		 35 36 -307 -343 -127 1,542 -651 82 794 933 -1,607
Purchase of Property, Leasehold Improvements and Equipment		 -8.38 -11 -5.64 - -7.59 -6.10 -4.87 -6.95 -4.37 -6.50 -8.34
Purchase of Investment Securities		 -1,925 -1,969 -1,950 0.00 -1,726 -448 -331 -97 -144 -912 -1,976
Sale and/or Maturity of Investments		 1,890 1,946 1,598 4,400 3,011 2,346 1,970 1,418 1,010 2,047 1,672
Other Investing Activities, net		 79 69 51 20 -1,452 -354 -2,310 -1,235 -68 -195 -1,295
Net Cash From Financing Activities		 22 -448 388 58 201 -726 -91 -150 -558 -797 227
Net Cash From Continuing Financing Activities		 22 -448 388 58 201 -726 -91 -150 -558 -797 227
Issuance of Debt		 16,280 12,360 10,080 5,807 14,403 10,021 4,519 2,427 921 668 4,572
Repayment of Debt		 -16,137 -12,689 -9,510 -5,682 -14,023 -10,615 -4,494 -2,413 -1,348 -1,313 -4,196
Repurchase of Common Equity		 -0.99 -4.65 -2.59 0.00 -0.64 -3.04 -9.01 -7.92 -2.48 -6.53 -12
Payment of Dividends		 -40 -67 -100 -123 -145 -119 -101 -137 -116 -118 -117
Other Financing Activities, Net		 -80 -47 -80 56 -34 -51 -6.96 -20 -12 -28 -21
Cash Interest Paid		 107 115 131 183 195 203 173 178 234 199 158
Cash Income Taxes Paid		 7.31 8.78 -0.21 9.84 0.89 2.20 -2.53 -1.17 -2.40 1.86 3.52

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -6.10 208 157 -25 492 -353 -813 -385 -85 -10 -1.27
Net Cash From Operating Activities		 78 58 -20 45 169 -60 -29 44 26 45 -7.99
Net Cash From Continuing Operating Activities		 78 58 -20 45 169 -60 -29 44 26 45 -7.99
Net Income / (Loss) Continuing Operations		 31 19 16 32 28 31 12 17 19 16 2.60
Consolidated Net Income / (Loss)		 31 19 16 32 28 31 12 17 19 16 2.60
Provision For Loan Losses		 7.47 6.01 5.77 5.06 3.06 0.05 -0.08 -0.04 -0.03 -0.00 -0.03
Depreciation Expense		 7.14 7.77 8.30 8.41 8.15 7.47 7.34 8.04 8.24 8.38 8.91
Amortization Expense		 -0.75 -2.45 -1.93 -1.90 -1.47 -2.32 1.31 -1.23 7.16 -7.99 -2.38
Non-Cash Adjustments to Reconcile Net Income		 -5.83 2.92 11 -8.77 2.08 -8.04 -60 65 -5.66 9.92 16
Changes in Operating Assets and Liabilities, net		 39 25 -60 10 130 -89 11 -45 -2.53 19 -33
Net Cash From Investing Activities		 79 191 337 250 147 199 -374 -406 -291 -536 -451
Net Cash From Continuing Investing Activities		 79 191 337 250 147 199 -374 -406 -291 -536 -451
Purchase of Property, Leasehold Improvements and Equipment		 -1.14 -1.73 -1.37 -0.46 -3.02 -1.65 -0.87 -0.64 -0.48 -6.36 -0.74
Purchase of Investment Securities		 -59 -67 -71 -95 -432 -315 -522 -592 -1,255 393 -270
Sale and/or Maturity of Investments		 157 267 458 366 584 639 402 346 550 373 375
Other Investing Activities, net		 -17 -7.00 -49 -21 -2.23 -123 -253 -160 414 -1,296 -555
Net Cash From Financing Activities		 -164 -41 -160 -320 176 -492 -410 -23 180 481 458
Net Cash From Continuing Financing Activities		 -164 -41 -160 -320 176 -492 -410 -23 180 481 458
Issuance of Debt		 6.13 177 81 61 513 13 0.25 348 2,008 2,217 4,222
Repayment of Debt		 -140 -188 -199 -351 -299 -463 -367 -335 -1,789 -1,705 -3,706
Repurchase of Common Equity		 -0.20 - -0.65 -0.21 -1.19 -4.48 -2.32 -6.62 -1.54 -1.28 -13
Payment of Dividends		 -29 -29 -31 -29 -29 -29 -31 -29 -29 -29 -31
Other Financing Activities, Net		 -0.74 -0.47 -10 -0.50 -7.78 -8.53 -10 -0.17 -9.28 -0.84 -14

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 2014 2015 2016 2017 2018 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 5,814 5,895 5,578 6,026 6,273 5,881 5,851 5,951 5,513 4,845 5,153
Cash and Due from Banks		 76 109 45 77 68 1,254 549 609 1,016 1,323 38
Restricted Cash		 42 31 45 106 31 30 73 51 15 13 15
Trading Account Securities		 2,822 2,444 2,140 36 40 77 24 34 34 1,128 72
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 2,354 3,554 3,886 3,155 0.00 2,217
Loans and Leases		 - - - - - 2,354 3,554 3,886 3,155 - 2,217
Premises and Equipment, Net		 769 835 822 1,032 998 985 866 700 726 671 704
Other Assets		 1,687 1,905 169 1,262 1,635 1,181 818 691 608 119 2,153
Total Liabilities & Shareholders' Equity		 5,814 5,895 5,578 6,026 6,273 5,881 5,851 5,951 5,513 4,845 5,153
Total Liabilities		 4,309 4,404 4,069 4,537 4,629 4,333 4,338 4,418 3,980 3,312 3,671
Other Short-Term Payables		 - 96 - - - 71 68 100 97 75 108
Long-Term Debt		 4,183 4,275 3,942 4,380 4,453 4,210 4,220 4,246 3,784 3,136 3,510
Other Long-Term Liabilities		 126 28 127 158 177 52 50 72 99 102 53
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 785 828 1,510 1,488 1,644 1,548 1,514 1,534 1,532 1,533 1,481
Total Preferred & Common Equity		 785 828 971 1,235 1,445 1,543 1,507 1,533 1,533 1,535 1,484
Total Common Equity		 785 828 971 1,235 1,445 1,543 1,507 1,533 1,533 1,535 1,484
Common Stock		 726 777 992 1,306 1,471 1,780 1,795 1,827 1,757 1,777 1,787
Retained Earnings		 44 61 -11 -39 11 -164 -208 -177 -198 -207 -260
Treasury Stock		 0.00 -5.81 -11 -32 -33 -63 -76 -96 -12 -30 -39
Accumulated Other Comprehensive Income / (Loss)		 16 -3.56 1.37 -0.21 -4.65 -10 -4.11 -21 -14 -4.87 -4.14
Noncontrolling Interest		 - - 538 253 198 5.26 6.48 0.22 -0.95 - -2.57

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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 5,870 5,861 5,629 5,503 5,323 5,048 5,379 4,470 4,457 4,687 5,607
Cash and Due from Banks		 328 626 777 798 1,220 1,196 1,607 480 135 49 33
Restricted Cash		 29 25 97 60 12 12 12 14 13 13 19
Trading Account Securities		 36 34 33 33 34 528 47 1,586 2,014 1,987 72
Loans and Leases, Net of Allowance		 4,019 3,794 3,501 3,372 2,798 0.00 2,040 0.00 0.00 0.00 2,606
Loans and Leases		 4,019 3,794 3,501 3,372 2,798 - 2,040 - - - 2,606
Premises and Equipment, Net		 770 693 687 675 734 707 691 655 690 706 776
Other Assets		 706 712 564 603 573 67 1,033 71 12 11 2,148
Total Liabilities & Shareholders' Equity		 5,870 5,861 5,629 5,503 5,323 5,048 5,379 4,470 4,457 4,687 5,607
Total Liabilities		 4,366 4,332 4,097 3,965 3,799 3,520 3,848 2,956 2,957 3,193 4,162
Other Short-Term Payables		 81 82 81 95 76 - 99 - - 55 76
Long-Term Debt		 4,238 4,082 3,958 3,794 3,667 3,378 3,585 2,770 2,783 2,997 4,028
Other Long-Term Liabilities		 47 168 58 76 56 142 164 186 174 140 59
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,504 1,529 1,532 1,538 1,524 1,528 1,531 1,514 1,500 1,493 1,445
Total Preferred & Common Equity		 1,502 1,529 1,532 1,539 1,525 1,530 1,533 1,517 1,503 1,496 1,447
Total Common Equity		 1,502 1,529 1,532 1,539 1,525 1,530 1,533 1,517 1,503 1,496 1,447
Common Stock		 1,823 1,836 1,839 1,842 1,767 1,770 1,774 1,778 1,781 1,784 1,773
Retained Earnings		 -207 -184 -185 -183 -211 -208 -209 -225 -237 -247 -287
Treasury Stock		 -95 -106 -106 -106 -22 -22 -23 -30 -37 -38 -33
Accumulated Other Comprehensive Income / (Loss)		 -19 -18 -17 -15 -9.82 -11 -8.71 -7.22 -5.64 -3.34 -5.84
Noncontrolling Interest		 1.66 -0.51 -0.60 -0.72 -1.33 - -1.93 - - - -2.57

Annual Metrics And Ratios for Ladder Capital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.86 $1.08 $1.16 $1.85 $2.32 ($0.13) $0.46 $1.14 $0.81 $0.86 $0.51
Adjusted Weighted Average Basic Shares Outstanding		 103.40M 62.00M 81.90M 97.23M 210.91M 112.41M 123.76M 124.30M 124.67M 125.58M 125.48M
Adjusted Diluted Earnings per Share		 $2.84 $1.06 $1.13 $1.84 $2.30 ($0.13) $0.45 $1.13 $0.81 $0.86 $0.51
Adjusted Weighted Average Diluted Shares Outstanding		 103.74M 107.64M 109.70M 97.65M 212.80M 112.41M 124.56M 125.82M 124.88M 125.79M 126.19M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $1.08 $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		 109.91M 110.73M 111.28M 120.21M 120.98M 126.83M 128.02M 126.50M 126.62M 127.11M 127.23M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Ladder Capital

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 127,233,559.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 127,233,559.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 84.02% -25.02% -12.67% -20.07% -43.14% -70.22% -41.93% -59.89% 26.67% - -4.80%
EBITDA Growth		 372.40% -31.67% -80.71% -117.99% -76.62% -96.64% -1,351.47% -94.29% 272.93% - -202.20%
EBIT Growth		 950.54% -33.84% -1,250.30% -587.15% -91.71% -103.90% -152.67% -115.03% 606.81% - -65.89%
NOPAT Growth		 941.19% -74.38% -1,209.47% -605.07% -91.16% -113.30% -204.35% -111.93% 595.11% - -26.38%
Net Income Growth		 8.75% -74.38% -25.96% 14.36% -11.65% 64.70% -29.67% -46.75% -30.45% - -77.47%
EPS Growth		 8.70% -106.38% -63.89% 13.04% -12.00% 933.33% -30.77% -46.15% -31.82% - -77.78%
Operating Cash Flow Growth		 104.12% 7.17% -118.29% 167.45% 116.36% -202.95% -40.99% -3.00% -84.42% - 72.19%
Free Cash Flow Firm Growth		 195.15% 1,602.58% 71.51% 152.20% -50.37% 33.79% 114.78% 0.72% 194.68% - -235.49%
Invested Capital Growth		 -7.13% -8.01% -7.49% -10.62% -4.05% -12.18% -17.47% -12.70% -12.22% - 27.73%
Revenue Q/Q Growth		 67.62% 38.56% -59.33% -15.39% 19.25% -27.43% -20.69% 17.91% 86.67% - -75.42%
EBITDA Q/Q Growth		 538.36% 80.79% -99.08% -269.32% 929.79% -74.01% -442.69% 125.27% 1,556.95% - -126.08%
EBIT Q/Q Growth		 2,084.61% 98.99% -108.33% -34.49% 137.19% -193.68% -439.24% 67.57% 531.42% - -136.10%
NOPAT Q/Q Growth		 1,887.66% -39.02% -126.79% -55.52% 134.79% -191.73% -513.16% 75.29% 600.04% - -223.59%
Net Income Q/Q Growth		 11.05% -39.02% -13.63% 95.53% -14.20% 13.67% -63.12% 48.06% 12.05% - -83.59%
EPS Q/Q Growth		 8.70% -112.00% 533.33% 100.00% -15.38% 13.64% -64.00% 55.56% 7.14% - -84.62%
Operating Cash Flow Q/Q Growth		 216.04% -25.24% -134.89% 322.85% 272.22% -135.57% 52.22% 253.32% -40.20% - -117.61%
Free Cash Flow Firm Q/Q Growth		 93.27% 9.40% -13.93% 38.58% -61.96% 194.91% 38.17% -30.49% 4.04% - -292.92%
Invested Capital Q/Q Growth		 -2.87% -0.30% -2.36% -5.48% 4.27% -8.75% -8.23% -0.02% 4.84% - 9.62%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 51.08% 66.65% 1.51% -3.02% 21.01% 7.52% -32.51% 6.97% 61.84% - -69.79%
EBIT Margin		 43.06% 61.84% -12.67% -20.14% 6.28% -8.11% -55.12% -15.16% 35.04% - -96.06%
Profit (Net Income) Margin		 39.11% 17.21% 36.55% 84.47% 60.77% 95.20% 44.27% 55.59% 33.37% - 10.48%
Tax Burden Percent		 90.84% 103.65% 89.51% 103.51% 96.83% 94.82% 107.82% 82.16% 95.23% - 82.14%
Interest Burden Percent		 100.00% 26.86% -322.36% -405.28% 999.40% -1,238.42% -74.49% -446.25% 100.00% - -13.28%
Effective Tax Rate		 9.16% -3.65% 10.49% -3.51% 3.17% 5.18% -7.82% 17.84% 4.77% - 17.86%
Return on Invested Capital (ROIC)		 1.53% 0.90% -0.59% -0.66% 0.15% -0.25% -1.79% -0.26% 0.75% - -3.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.53% 0.90% -0.04% 0.43% 0.82% 0.73% -0.95% 0.42% 0.75% - -2.81%
Return on Net Nonoperating Assets (RNNOA)		 4.03% 2.35% -0.10% 1.03% 1.98% 1.65% -2.01% 0.85% 1.64% - -6.46%
Return on Equity (ROE)		 5.55% 3.25% -0.69% 0.37% 2.13% 1.40% -3.79% 0.59% 2.40% - -9.93%
Cash Return on Invested Capital (CROIC)		 10.21% 10.16% 9.53% 10.86% 5.96% 12.72% 18.68% 15.47% 14.67% - -23.23%
Operating Return on Assets (OROA)		 1.64% 3.12% -0.64% -0.62% 0.15% -0.25% -1.60% -0.31% 0.76% - -4.08%
Return on Assets (ROA)		 1.49% 0.87% 1.85% 2.61% 1.46% 2.96% 1.29% 1.13% 0.72% - 0.45%
Return on Common Equity (ROCE)		 5.55% 3.25% -0.69% 0.37% 2.14% 1.40% -3.80% 0.59% 2.40% - -9.95%
Return on Equity Simple (ROE_SIMPLE)		 10.12% 0.00% 6.21% 6.46% 6.21% 0.00% 6.76% 5.83% 5.29% - 3.78%
Net Operating Profit after Tax (NOPAT)		 31 19 -5.10 -7.93 2.76 -2.53 -16 -3.83 19 - -20
NOPAT Margin		 39.11% 17.21% -11.34% -20.84% 6.08% -7.69% -59.44% -12.46% 33.37% - -78.90%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% -0.56% -1.09% -0.67% -0.98% -0.84% -0.68% 0.00% - -0.65%
SG&A Expenses to Revenue		 17.91% 11.77% 46.25% 36.08% 31.77% 35.72% 71.88% 37.57% 20.11% - 89.85%
Operating Expenses to Revenue		 47.57% 32.73% 99.84% 106.84% 86.97% 107.96% 155.44% 115.30% 65.01% - 196.17%
Earnings before Interest and Taxes (EBIT)		 34 68 -5.69 -7.66 2.85 -2.67 -14 -4.67 20 - -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 41 74 0.68 -1.15 9.53 2.48 -8.49 2.14 36 - -17
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.78 0.88 0.85 0.94 0.97 0.93 0.96 0.92 0.93 - 0.86
Price to Tangible Book Value (P/TBV)		 0.78 0.88 0.85 0.94 0.97 0.93 0.96 0.92 0.93 - 0.86
Price to Revenue (P/Rev)		 5.56 4.65 4.61 8.75 11.35 8.86 10.19 14.28 12.81 - 5.81
Price to Earnings (P/E)		 8.49 13.31 13.66 14.51 15.43 13.19 14.02 15.58 17.45 - 22.60
Dividend Yield		 9.72% 8.68% 8.96% 8.15% 7.93% 8.22% 8.06% 8.56% 8.43% - 9.42%
Earnings Yield		 11.78% 7.51% 7.32% 6.89% 6.48% 7.58% 7.13% 6.42% 5.73% - 4.43%
Enterprise Value to Invested Capital (EV/IC)		 0.78 0.77 0.72 0.74 0.67 0.69 0.87 0.94 0.96 - 0.95
Enterprise Value to Revenue (EV/Rev)		 19.15 14.16 13.21 21.89 26.38 20.01 26.16 41.57 39.83 - 24.36
Enterprise Value to EBITDA (EV/EBITDA)		 85.77 32.97 30.76 629.10 0.00 279.72 1,572.07 0.00 0.00 - 62.04
Enterprise Value to EBIT (EV/EBIT)		 140.22 39.12 37.91 0.00 0.00 0.00 0.00 0.00 0.00 - 90.39
Enterprise Value to NOPAT (EV/NOPAT)		 26.56 40.77 39.43 0.00 36.23 0.00 0.00 45.79 54.60 - 95.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.41 22.69 76.52 22.36 13.66 24.09 29.66 32.28 0.00 - 48.41
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.32 7.27 7.26 6.40 11.08 5.08 4.21 5.64 6.14 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.47 2.47 2.41 2.21 2.34 2.05 1.83 1.86 2.01 - 2.79
Long-Term Debt to Equity		 2.47 2.47 2.41 2.21 2.34 2.05 1.83 1.86 2.01 - 2.79
Financial Leverage		 2.64 2.62 2.54 2.40 2.40 2.26 2.12 2.04 2.18 - 2.30
Leverage Ratio		 3.74 3.74 3.66 3.49 3.55 3.38 3.23 3.14 3.33 - 3.41
Compound Leverage Factor		 3.74 1.00 -11.81 -14.15 35.44 -41.88 -2.40 -14.03 3.33 - -0.45
Debt to Total Capital		 71.15% 71.18% 70.64% 68.87% 70.08% 67.19% 64.69% 65.02% 66.78% - 73.60%
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%
Long-Term Debt to Total Capital		 71.15% 71.18% 70.64% 68.87% 70.08% 67.19% 64.69% 65.02% 66.78% - 73.60%
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%
Noncontrolling Interests to Total Capital		 -0.01% -0.02% -0.03% -0.03% -0.04% -0.04% -0.05% -0.06% -0.06% - -0.05%
Common Equity to Total Capital		 28.86% 28.84% 29.38% 31.19% 29.96% 32.89% 35.42% 35.10% 33.33% - 26.45%
Debt to EBITDA		 78.67 30.45 30.19 588.21 -140.76 271.91 1,169.17 -84.25 -426.11 - 47.90
Net Debt to EBITDA		 60.88 22.15 20.05 377.96 -77.18 156.05 960.85 -79.76 -417.16 - 47.29
Long-Term Debt to EBITDA		 78.67 30.45 30.19 588.21 -140.76 271.91 1,169.17 -84.25 -426.11 - 47.90
Debt to NOPAT		 24.36 37.65 38.71 -185.19 37.68 -245.69 -127.52 31.79 37.86 - 73.57
Net Debt to NOPAT		 18.85 27.39 25.70 -119.00 20.66 -141.00 -104.80 30.09 37.07 - 72.63
Long-Term Debt to NOPAT		 24.36 37.65 38.71 -185.19 37.68 -245.69 -127.52 31.79 37.86 - 73.57
Noncontrolling Interest Sharing Ratio		 0.04% -0.02% -0.05% -0.12% -0.09% -0.16% -0.19% -0.27% -0.23% - -0.24%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 441 482 415 575 219 645 891 620 645 - -1,208
Operating Cash Flow to CapEx		 6,828.32% 3,367.88% -1,483.98% 9,913.97% 5,605.67% -3,641.49% -3,294.38% 6,936.22% 5,498.54% - -1,075.24%
Free Cash Flow to Firm to Interest Expense		 7.08 3.95 0.00 0.00 0.00 0.00 0.00 0.00 14.66 - 0.00
Operating Cash Flow to Interest Expense		 1.25 0.48 0.00 0.00 0.00 0.00 0.00 0.00 0.60 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 1.24 0.46 0.00 0.00 0.00 0.00 0.00 0.00 0.59 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.05 0.05 0.03 0.02 0.03 0.03 0.02 0.02 - 0.04
Fixed Asset Turnover		 0.30 0.41 0.40 0.24 0.19 0.23 0.21 0.14 0.16 - 0.30
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,332 5,316 5,191 4,907 5,116 4,669 4,284 4,283 4,491 - 5,472
Invested Capital Turnover		 0.04 0.05 0.05 0.03 0.03 0.03 0.03 0.02 0.02 - 0.04
Increase / (Decrease) in Invested Capital		 -410 -463 -420 -583 -216 -648 -907 -623 -625 - 1,188
Enterprise Value (EV)		 4,136 4,098 3,736 3,613 3,447 3,226 3,724 4,009 4,322 - 5,217
Market Capitalization		 1,201 1,346 1,303 1,444 1,483 1,428 1,450 1,377 1,391 - 1,243
Book Value per Share		 $12.12 $12.08 $12.17 $11.96 $11.99 $12.03 $11.93 $11.73 $11.74 - $11.37
Tangible Book Value per Share		 $12.12 $12.08 $12.17 $11.96 $11.99 $12.03 $11.93 $11.73 $11.74 - $11.37
Total Capital		 5,332 5,316 5,191 4,905 5,116 4,666 4,282 4,281 4,488 - 5,472
Total Debt		 3,794 3,784 3,667 3,378 3,585 3,136 2,770 2,783 2,997 - 4,028
Total Long-Term Debt		 3,794 3,784 3,667 3,378 3,585 3,136 2,770 2,783 2,997 - 4,028
Net Debt		 2,936 2,753 2,435 2,171 1,966 1,800 2,276 2,635 2,934 - 3,976
Capital Expenditures (CapEx)		 1.14 1.73 1.37 0.46 3.02 1.65 0.87 0.64 0.48 - 0.74
Net Nonoperating Expense (NNE)		 0.00 0.00 -22 -40 -25 -34 -27 -21 0.00 - -22
Net Nonoperating Obligations (NNO)		 3,794 3,784 3,667 3,380 3,585 3,138 2,772 2,786 3,000 - 4,028
Total Depreciation and Amortization (D&A)		 6.40 5.32 6.37 6.51 6.68 5.14 5.90 6.81 15 - 6.53
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.50 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14 $0.15 $0.13 $0.02
Adjusted Weighted Average Basic Shares Outstanding		 249.46M 124.67M 125.32M 125.73M 125.71M 125.58M 125.63M 125.80M 125.34M 125.48M 125.40M
Adjusted Diluted Earnings per Share		 $0.50 ($0.03) $0.13 $0.26 $0.22 $0.25 $0.09 $0.14 $0.15 $0.13 $0.02
Adjusted Weighted Average Diluted Shares Outstanding		 249.94M 124.88M 125.52M 125.84M 125.91M 125.79M 126.28M 126.20M 126.12M 126.19M 126.02M
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		 126.91M 126.62M 127.89M 127.87M 127.64M 127.11M 128.10M 127.46M 127.32M 127.23M 127.67M
Normalized Net Operating Profit after Tax (NOPAT)		 31 13 -5.10 -5.36 2.76 -2.53 -10 -3.83 19 - -20
Normalized NOPAT Margin		 39.11% 11.63% -11.34% -14.10% 6.08% -7.69% -38.59% -12.46% 33.37% - -78.90%
Pre Tax Income Margin		 43.06% 16.61% 40.84% 81.61% 62.76% 100.40% 41.06% 67.66% 35.04% - 12.76%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.55 0.56 0.00 0.00 0.00 0.00 0.00 0.00 0.46 - 0.00
NOPAT to Interest Expense		 0.50 0.16 0.00 0.00 0.00 0.00 0.00 0.00 0.44 - 0.00
EBIT Less CapEx to Interest Expense		 0.53 0.55 0.00 0.00 0.00 0.00 0.00 0.00 0.45 - 0.00
NOPAT Less CapEx to Interest Expense		 0.48 0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.43 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 74.67% 116.38% 124.05% 118.73% 123.50% 109.86% 114.91% 134.64% 148.83% - 214.10%
Augmented Payout Ratio		 77.39% 118.85% 124.94% 119.80% 125.66% 115.94% 122.90% 151.33% 167.72% - 255.80%

Financials Breakdown Chart

Key Financial Trends

Ladder Capital Corp (NYSE: LADR) has a diversified portfolio that leverages mortgage servicing rights, investment securities, and trading assets. Across the last four years of quarterly data, the company has shown notable shifts in revenue mix, earnings volatility, and a growing servicing asset base, while maintaining a relatively high leverage profile typical for a mortgage REIT. The latest four quarters (Q1–Q4 2025) reflect a stronger revenue cadence and improving cash flow in operating activities, but earnings and liquidity dynamics remain sensitive to investment gains, credit provisioning, and debt financing decisions.

  • MSR portfolio growth supports potential servicing revenue: Mortgage Servicing Rights (MSR) rose to about $1.9B by late 2025 (roughly $1.6B–$1.9B range across 2024–2025), indicating a larger servicing asset base that can generate ongoing servicing fees and related income.
  • Improving operating cash flow in 2025: Net cash from continuing operating activities turned consistently positive in Q2–Q4 2025 (e.g., roughly $44–45M in recent quarters), signaling better ability to fund activities from core operations.
  • Liquidity support from debt financing in 2025: Issuance/debt financing activity provided liquidity to fund investments and maintain balance sheet capacity, helping to manage funding needs for asset growth.
  • Revenue advances in Q4 2025 driven by gains and non-interest income: Total revenue jumped to about $101M in Q4 2025 from roughly $33M in Q4 2024, aided by higher non-interest income and investment-related gains.
  • Stable asset base with a multi-year horizon: Total assets generally sit in the $4.4–4.7B band across 2022–2025, indicating a stable, sizable balance sheet foundation.
  • Loans and leases often small or zero net of allowance: Loans and Leases, Net of Allowance, are frequently minimal or zero, suggesting Ladder relies more on investment securities/MSR than traditional lending activities.
  • Equity base and dilution modest in recent years: Total equity remains around $1.5B with a shrinking impact from share dilution, reflecting steady capital structure without dramatic swings in equity base.
  • Earnings volatility and lower near-term earnings in late 2025: Net income attributable to common shareholders declined in Q4 2025 (about $15.9M) versus Q4 2024 (about $31.4M), despite higher revenue, pointing to earnings variability and potential tax/credit provision shifts.
  • Cash flow liquidity intermittently pressured in some quarters: Net change in cash and equivalents was negative in several quarters (e.g., substantial negative read in Q4 2024 and a negative quarter within 2025), signaling episodic liquidity or investing activity outflows.
  • Elevated leverage and debt burden: Total liabilities typically run around $3.0–3.2B with long-term debt near $2.8–3.0B, implying ongoing interest-rate risk and refinancing sensitivity inherent to a mortgage REIT model.
05/09/26 01:47 AM ETAI Generated. May Contain Errors.

Ladder Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ladder Capital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Ladder Capital's net income appears to be on a downward trend, with a most recent value of $63.70 million in 2025, falling from $146.13 million in 2015. The previous period was $107.45 million in 2024. See where experts think Ladder Capital is headed by visiting Ladder Capital's forecast page.

Over the last 10 years, Ladder Capital's total revenue changed from $225.86 million in 2015 to $215.37 million in 2025, a change of -4.6%.

Ladder Capital's total liabilities were at $3.67 billion at the end of 2025, a 10.8% increase from 2024, and a 14.8% decrease since 2014.

In the past 10 years, Ladder Capital's cash and equivalents has ranged from $37.95 million in 2025 to $1.32 billion in 2024, and is currently $37.95 million as of their latest financial filing in 2025.


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Financial statements for NYSE:LADR last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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