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Ready Capital (RC) Financials

Ready Capital logo
$4.07 -0.16 (-3.78%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$4.10 +0.02 (+0.61%)
As of 08/8/2025 06:43 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 Ready Capital

Annual Income Statements for Ready Capital

This table shows Ready 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		 29 40 49 43 59 73 45 150 186 331 -444
Consolidated Net Income / (Loss)		 33 45 53 46 61 75 46 160 203 348 -430
Net Income / (Loss) Continuing Operations		 35 45 56 46 61 75 46 117 160 351 -412
Total Pre-Tax Income 		36 53 65 48 63 65 54 132 175 358 -517
Total Revenue		 98 121 145 205 208 253 418 324 426 638 99
Net Interest Income / (Expense)		 74 101 79 64 60 78 83 191 271 229 201
Total Interest Income		 93 149 137 138 169 230 259 395 663 946 897
Investment Securities Interest Income		 4.83 - 137 138 169 230 259 395 663 946 897
Total Interest Expense		 19 48 58 75 109 152 175 204 392 716 696
Long-Term Debt Interest Expense		 15 48 58 75 109 152 175 204 392 716 696
Total Non-Interest Income		 24 20 66 141 148 175 335 133 155 408 -102
Other Service Charges		 11 20 9.16 7.41 65 11 42 6.86 56 106 51
Net Realized & Unrealized Capital Gains on Investments		 13 - 48 111 55 49 239 109 87 282 -169
Other Non-Interest Income		 - - 8.66 23 27 114 54 18 11 21 17
Provision for Credit Losses		 12 20 7.82 2.36 1.70 3.68 35 8.05 34 7.23 293
Total Non-Interest Expense		 50 54 72 155 144 184 329 184 216 272 323
Salaries and Employee Benefits		 15 22 28 59 61 57 99 69 85 92 94
Insurance Policy Acquisition Costs		 - 0.97 - - 1.14 0.11 5.97 5.42 3.11 1.79 0.00
Other Operating Expenses		 34 31 43 96 82 120 224 95 111 152 162
Impairment Charge		 - - - - - - - - 4.03 8.64 57
Restructuring Charge		 - - - - 0.00 7.75 0.06 14 14 18 10
Income Tax Expense		 0.90 7.81 9.65 1.84 1.39 -11 8.38 15 15 7.17 -105
Net Income / (Loss) Discontinued Operations		 -2.67 -0.65 -2.16 - - - - 43 44 -2.83 -18
Preferred Stock Dividends Declared		 - - - - - 0.00 0.00 7.50 8.00 8.00 8.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 3.39 4.39 4.24 2.52 2.20 2.09 1.20 2.23 8.90 8.96 5.36
Basic Earnings per Share		 - $1.59 $1.85 $1.38 $1.84 $1.72 $0.81 $2.17 $1.73 $2.25 ($2.63)
Weighted Average Basic Shares Outstanding		 24.60M 25.29M 26.65M 31.35M 32.09M 42.01M 53.74M 68.51M 106.88M 146.84M 169.11M
Diluted Earnings per Share		 - $1.59 $1.85 $1.38 $1.84 $1.72 $0.81 $2.16 $1.65 $2.22 ($2.63)
Weighted Average Diluted Shares Outstanding		 24.60M 25.29M 26.65M 31.35M 32.10M 42.05M 53.82M 68.66M 117.19M 148.57M 170.47M
Weighted Average Basic & Diluted Shares Outstanding		 24.60M 25.29M 26.65M 31.40M 32.20M 52.03M 54.43M 83.33M 110.73M 172.55M 163.15M
Cash Dividends to Common per Share		 - $1.78 $1.61 $1.48 $1.57 $1.60 $1.30 $1.66 $1.66 $1.46 $1.10

Quarterly Income Statements for Ready Capital

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

Metric Q1 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 3/31/2022 9/30/2022 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
Net Income / (Loss) Attributable to Common Shareholders		 - 61 9.46 33 247 44 7.76 -76 -38 -11 -318
Consolidated Net Income / (Loss)		 - 66 14 37 253 47 11 -74 -34 -7.28 -315
Net Income / (Loss) Continuing Operations		 - 66 -30 39 245 44 25 -76 -31 -7.47 -298
Total Pre-Tax Income 		- 71 -47 39 247 46 26 -106 -80 -16 -315
Total Revenue		 - 149 1.94 89 337 100 113 -54 -31 107 77
Net Interest Income / (Expense)		 - 71 64 57 61 59 53 49 51 51 50
Total Interest Income		 - 186 199 216 61 249 420 232 51 227 387
Investment Securities Interest Income		 - 186 199 216 231 249 250 232 234 227 204
Total Interest Expense		 - 115 135 159 0.00 190 368 184 0.00 176 337
Total Non-Interest Income		 - 79 -62 32 276 41 60 -103 -82 56 27
Other Service Charges		 - 16 25 20 19 19 48 15 6.60 15 14
Net Realized & Unrealized Capital Gains on Investments		 - 38 -59 7.14 252 15 7.55 -122 -11 -35 -1.04
Other Non-Interest Income		 - 24 -29 4.64 5.04 0.00 11 3.76 -78 71 19
Provision for Credit Losses		 - 3.43 34 -6.73 19 -12 6.69 -27 -19 53 285
Total Non-Interest Expense		 - 75 15 56 71 66 80 78 67 70 107
Salaries and Employee Benefits		 - 28 -2.01 22 25 23 22 21 21 26 27
Other Operating Expenses		 - 44 6.28 31 32 40 48 57 45 41 19
Restructuring Charge		 - 1.54 5.03 0.89 14 2.33 0.58 0.65 1.59 3.00 4.88
Income Tax Expense		 - 4.78 -17 0.90 2.19 2.81 1.27 -30 -49 -8.40 -17
Net Income / (Loss) Discontinued Operations		 - - - -1.53 8.84 3.66 -14 1.42 -2.77 0.19 -17
Preferred Stock Dividends Declared		 - 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 3.02 2.23 1.84 4.49 1.52 1.12 0.12 1.82 2.03 1.39
Basic Earnings per Share		 - $0.53 $0.03 $0.30 $1.87 $0.25 ($0.17) ($0.44) ($0.23) ($0.07) ($1.89)
Weighted Average Basic Shares Outstanding		 - 114.37M 106.88M 110.67M 131.65M 171.97M 146.84M 172.03M 168.65M 168.34M 169.11M
Diluted Earnings per Share		 - $0.50 $0.04 $0.29 $1.76 $0.25 ($0.08) ($0.44) ($0.23) ($0.07) ($1.89)
Weighted Average Diluted Shares Outstanding		 - 125.67M 117.19M 121.03M 141.58M 174.44M 148.57M 173.10M 169.86M 169.51M 170.47M
Weighted Average Basic & Diluted Shares Outstanding		 - 110.51M 110.73M 110.75M 171.97M 172.12M 172.55M 168.87M 168.21M 168.53M 163.15M
Cash Dividends to Common per Share		 - $0.42 $0.40 $0.40 $0.40 $0.36 $0.30 $0.30 $0.30 $0.25 $0.25

Annual Cash Flow Statements for Ready Capital

This table details how cash moves in and out of Ready 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		 -161 -15 23 10 4.02 33 73 228 106 -22 -80
Net Cash From Operating Activities		 -262 27 12 352 140 -52 69 -34 359 51 275
Net Cash From Continuing Operating Activities		 -256 29 16 352 140 -52 69 -90 274 59 286
Net Income / (Loss) Continuing Operations		 35 45 56 46 61 75 46 117 160 351 -412
Consolidated Net Income / (Loss)		 33 45 53 46 61 75 46 160 203 348 -430
Net Income / (Loss) Discontinued Operations		 2.67 0.65 2.16 - - - - - - - -18
Provision For Loan Losses		 12 20 7.82 - 1.70 3.68 35 9.35 38 16 295
Amortization Expense		 -28 -12 1.48 15 15 14 34 -24 2.43 67 53
Non-Cash Adjustments to Reconcile Net Income		 -268 -8.35 -22 272 74 -119 -132 -166 119 -246 485
Changes in Operating Assets and Liabilities, net		 -7.66 -16 -27 20 -13 -27 87 -27 -45 -87 -134
Net Cash From Discontinued Operating Activities		 -0.59 - - - - - - - - - -12
Net Cash From Investing Activities		 -881 -187 390 -236 -581 -1,213 -59 -1,718 -1,556 1,019 1,535
Net Cash From Continuing Investing Activities		 -880 -187 390 -236 -581 -1,213 -59 -1,718 -1,552 1,021 1,435
Purchase of Investment Securities		 -1,180 -702 -431 -671 -1,379 -781 -1,055 -4,038 -3,988 -1,004 -905
Sale of Property, Leasehold Improvements and Equipment		 - 7.57 6.63 4.80 1.63 19 17 42 7.52 78 67
Sale and/or Maturity of Investments		 318 509 777 432 797 857 979 4,409 2,448 1,957 2,288
Other Investing Activities, net		 -19 -1.71 -2.32 -1.10 -0.56 -1,307 0.00 -2,130 -19 -9.05 -15
Net Cash From Discontinued Investing Activities		 -0.46 - - - - - - - - - 100
Net Cash From Financing Activities		 977 145 -381 -107 444 1,298 63 1,876 1,171 -1,085 -1,880
Net Cash From Continuing Financing Activities		 977 145 -381 -107 444 1,298 63 1,939 1,264 -1,133 -1,839
Issuance of Debt		 2,190 9,389 4,620 5,151 4,303 6,899 7,366 12,702 10,378 5,248 2,320
Issuance of Common Equity		 - - - - 0.09 91 13 165 123 0.11 0.00
Repayment of Debt		 -1,188 -9,207 -4,953 -5,209 -3,780 -5,599 -7,236 -10,718 -8,939 -6,103 -3,858
Repurchase of Common Equity		 - - -0.00 -0.07 0.00 0.00 -9.24 0.00 -37 -18 -82
Payment of Dividends		 -17 -36 -47 -48 -51 -63 -57 -112 -188 -215 -206
Other Financing Activities, Net		 -8.57 -2.70 -1.46 -0.06 -28 -29 -14 11 -73 -45 -13
Net Cash From Discontinued Financing Activities		 - - - - - - - - - - -41
Other Net Changes in Cash		 - -0.84 -1.72 - - - - 55 81 -9.77 -70
Cash Interest Paid		 18 45 55 62 96 126 156 186 355 661 659
Cash Income Taxes Paid		 1.14 7.00 6.16 3.77 0.90 -2.66 -8.48 13 29 2.01 -12

Quarterly Cash Flow Statements for Ready Capital

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

Metric Q1 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 3/31/2022 9/30/2022 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
Net Change in Cash & Equivalents		 - 74 110 -86 166 -83 -20 -27 44 -43 -53
Net Cash From Operating Activities		 - 63 217 -0.91 38 44 -30 23 1.06 221 29
Net Cash From Continuing Operating Activities		 - 63 132 -1.14 50 18 -7.79 16 34 238 -1.88
Net Income / (Loss) Continuing Operations		 - 66 -30 39 245 44 25 -76 -31 -7.47 -298
Consolidated Net Income / (Loss)		 - 66 14 37 253 47 11 -74 -34 -7.28 -315
Net Income / (Loss) Discontinued Operations		 - - - - - - - 1.42 -2.77 0.19 -17
Provision For Loan Losses		 - 4.81 36 -5.14 22 -9.49 8.79 -25 -18 53 285
Amortization Expense		 - -7.44 20 9.72 8.26 25 23 30 -6.77 15 14
Non-Cash Adjustments to Reconcile Net Income		 - 17 110 11 -231 -24 -1.70 155 111 162 57
Changes in Operating Assets and Liabilities, net		 - -18 -4.52 -55 6.26 -17 -21 -68 -21 15 -61
Net Cash From Discontinued Operating Activities		 - - - - - - - 7.51 -33 -17 31
Net Cash From Investing Activities		 - 91 27 48 286 257 429 305 320 373 537
Net Cash From Continuing Investing Activities		 - 91 32 48 286 257 430 305 259 374 497
Purchase of Investment Securities		 - -2,851 -398 -285 -208 -370 -141 -0.63 -540 -197 -168
Sale of Property, Leasehold Improvements and Equipment		 - 5.49 0.51 34 1.02 13 30 1.31 33 22 10
Sale and/or Maturity of Investments		 - 631 555 300 499 616 542 500 546 577 664
Other Investing Activities, net		 - 2,303 0.54 -0.78 -5.46 -1.68 -1.13 -196 220 -28 -11
Net Cash From Discontinued Investing Activities		 - - - - - - - -0.19 61 -0.75 40
Net Cash From Financing Activities		 - -79 -266 -97 -182 -377 -429 -360 -267 -645 -608
Net Cash From Continuing Financing Activities		 - -79 -173 -131 -194 -358 -450 -348 -278 -666 -548
Issuance of Debt		 - 2,514 -12 2,025 2,324 481 418 925 768 114 514
Repayment of Debt		 - -2,535 -52 -2,089 -2,411 -804 -799 -1,193 -970 -722 -972
Repurchase of Common Equity		 - -3.82 -33 0.00 -18 -0.01 - -19 -20 - -43
Payment of Dividends		 - -51 -51 -47 -77 -26 -65 -54 -53 -54 -45
Other Financing Activities, Net		 - -3.70 -25 -20 -13 -9.16 -3.68 -5.91 -2.23 -3.81 -1.48
Net Cash From Discontinued Financing Activities		 - - - - - - - -12 11 21 -60
Other Net Changes in Cash		 - - - -0.06 - - -22 - - -51 -42
Cash Interest Paid		 - 93 137 145 167 160 189 178 177 166 138
Cash Income Taxes Paid		 - 13 2.03 0.13 0.51 -0.11 1.47 0.22 -12 -0.00 0.01

Annual Balance Sheets for Ready Capital

This table presents Ready 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 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
Total Assets		 792 2,330 2,605 2,524 3,037 4,977 5,372 9,534 11,621 12,441 10,142
Cash and Due from Banks		 34 42 60 63 54 68 139 230 147 139 144
Restricted Cash		 7.14 15 20 - - 52 48 52 48 30 31
Trading Account Securities		 249 463 352 95 125 151 168 241 151 163 201
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 - - 182 216 - 188 340 553 124 - 242
Other Assets		 65 1,809 1,991 2,149 2,857 4,518 2,159 8,459 11,151 12,028 9,525
Total Liabilities & Shareholders' Equity		 792 2,330 2,605 2,524 3,037 4,977 5,372 9,534 11,621 12,441 10,142
Total Liabilities		 599 1,850 2,053 1,968 2,473 4,132 4,538 8,245 9,722 9,794 8,198
Long-Term Debt		 467 1,605 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735
Other Long-Term Liabilities		 29 56 85 85 997 1,939 167 235 514 555 462
Commitments & Contingencies		 0.00 - - - - - 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - 0.00 8.36 8.36 8.36 8.36
Total Equity & Noncontrolling Interests		 193 480 552 555 564 845 834 1,281 1,890 2,638 1,936
Total Preferred & Common Equity		 173 441 513 536 545 825 815 1,276 1,791 2,540 1,838
Preferred Stock		 0.00 0.13 - - - - 0.00 111 111 111 111
Total Common Equity		 173 441 513 536 545 825 815 1,165 1,680 2,429 1,727
Common Stock		 164 447 513 539 540 823 850 1,162 1,684 2,322 2,250
Retained Earnings		 9.03 -5.90 -0.20 -3.39 5.27 8.75 -24 8.60 4.99 124 -505
Accumulated Other Comprehensive Income / (Loss)		 - - - - -0.92 -6.18 -9.95 -5.73 -9.37 -18 -19
Noncontrolling Interest		 20 39 39 19 19 19 19 4.49 99 98 98

Quarterly Balance Sheets for Ready Capital

This table presents Ready 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 2021 Q4 2021 Q1 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2021 12/31/2021 3/31/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 9,264 - 11,476 11,858 11,537 12,383 12,799 12,044 11,774 11,253
Cash and Due from Banks		 210 - 211 208 111 228 182 166 226 181
Restricted Cash		 53 - 57 58 50 - - 25 - 31
Trading Account Securities		 243 - 300 197 150 160 169 162 165 188
Loans and Leases, Net of Allowance		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 550 - 523 404 237 239 185 3,985 533 3,876
Other Assets		 8,209 - 10,385 10,992 10,990 11,757 12,263 7,706 10,851 6,976
Total Liabilities & Shareholders' Equity		 9,264 - 11,476 11,858 11,537 12,383 12,799 12,044 11,774 11,253
Total Liabilities		 8,027 - 9,509 9,881 9,649 9,672 10,100 9,535 9,374 8,915
Long-Term Debt		 7,792 - 9,140 9,606 9,437 11,859 12,236 4,198 11,087 8,193
Other Long-Term Liabilities		 235 - 369 275 212 182 184 568 546 722
Commitments & Contingencies		 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 8.36 - 8.36 8.36 8.36 8.36 8.36 8.36 8.36 8.36
Total Equity & Noncontrolling Interests		 1,229 - 1,959 1,969 1,880 2,703 2,691 2,500 2,392 2,330
Total Preferred & Common Equity		 1,210 - 1,851 1,867 1,780 2,603 2,592 2,403 2,293 2,233
Preferred Stock		 111 - 111 111 111 111 111 111 111 111
Total Common Equity		 1,099 - 1,740 1,756 1,669 2,492 2,481 2,291 2,182 2,122
Common Stock		 1,115 - 1,723 1,720 1,688 2,314 2,318 2,307 2,288 2,292
Retained Earnings		 -10 - 22 40 -6.53 187 169 -3.55 -92 -146
Accumulated Other Comprehensive Income / (Loss)		 -6.28 - -4.70 -4.51 -12 -9.28 -5.93 -12 -14 -24
Noncontrolling Interest		 19 - 107 102 100 100 99 97 99 97

Annual Metrics And Ratios for Ready Capital

This table displays calculated financial ratios and metrics derived from Ready 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		 469.64% 23.51% 19.93% 41.52% 1.61% 21.37% 65.40% -22.52% 31.50% 49.79% -84.52%
EBITDA Growth		 10.30% 314.11% 91.07% -6.77% 25.95% 0.77% 11.52% 22.98% 63.97% 139.46% -209.18%
EBIT Growth		 380.44% 30.39% 37.82% -26.93% 31.88% 2.64% -15.58% 142.70% 32.43% 104.78% -244.11%
NOPAT Growth		 368.57% 14.51% 37.09% -17.55% 34.14% 22.13% -38.62% 154.62% 36.02% 120.15% -202.94%
Net Income Growth		 333.21% 36.81% 19.30% -14.22% 34.14% 22.13% -38.62% 247.25% 27.00% 71.49% -223.53%
EPS Growth		 0.00% 0.00% 16.35% -25.41% 33.33% -6.52% -52.91% 166.67% -23.61% 34.55% -218.47%
Operating Cash Flow Growth		 -1,962.65% 110.36% -55.26% 2,797.33% -60.20% -137.35% 231.48% -149.99% 1,142.79% -85.76% 437.48%
Free Cash Flow Firm Growth		 71.07% -1,121.38% 86.79% 166.47% 250.07% -306.06% 76.67% -2,631.22% 71.98% 77.12% 575.65%
Invested Capital Growth		 25.42% 196.21% 10.97% -3.27% -15.93% 48.93% 8.61% 181.84% 19.44% 6.56% -18.21%
Revenue Q/Q Growth		 70.23% 18.84% -5.00% 22.17% -24.20% 14.39% 10.01% -33.29% 15.35% 20.98% -26.44%
EBITDA Q/Q Growth		 -87.68% 226.70% -18.30% 3.21% -15.39% -1.82% 24.98% -31.22% -8.98% 21.92% -306.86%
EBIT Q/Q Growth		 -46.34% 19,644.63% -31.15% -6.50% -27.76% 23.41% 30.86% -17.62% -22.55% 25.73% -193.94%
NOPAT Q/Q Growth		 -14.66% 556.51% -23.56% -24.85% -5.01% 18.00% 16.80% -12.43% -20.38% 18.41% -193.94%
Net Income Q/Q Growth		 -15.31% 1,178.15% -25.50% -22.56% -5.01% 18.00% 16.80% 19.43% -16.42% -0.80% -310.82%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -5.64% 1.78% 42.11% 7.46% -28.26% -5.13% -220.73%
Operating Cash Flow Q/Q Growth		 -668.34% 108.45% -80.33% 42.41% -41.42% 12.34% 464.14% -201.74% 90.75% -82.83% 27.23%
Free Cash Flow Firm Q/Q Growth		 -0.62% -5,501.97% -157.39% 106.79% 242.24% 19.13% -122.68% -1.53% 29.97% 87.66% -58.10%
Invested Capital Q/Q Growth		 7.12% 203.59% 420.62% -0.02% -27.32% -24.27% 6.38% 2.99% -4.12% -20.76% -8.09%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 8.62% 28.92% 46.07% 30.35% 37.62% 31.23% 21.06% 33.42% 41.68% 66.63% -469.82%
EBIT Margin		 37.13% 39.20% 45.05% 23.26% 30.19% 25.53% 13.03% 40.81% 41.10% 56.19% -523.02%
Profit (Net Income) Margin		 33.48% 37.09% 36.89% 22.36% 29.52% 29.71% 11.02% 49.40% 47.71% 54.63% -435.82%
Tax Burden Percent		 90.17% 84.10% 81.89% 96.14% 97.79% 116.36% 84.60% 121.05% 116.08% 97.21% 83.33%
Interest Burden Percent		 100.00% 112.50% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 2.47% 14.67% 14.80% 3.86% 2.21% -16.36% 15.40% 11.24% 8.84% 2.00% 0.00%
Return on Invested Capital (ROIC)		 5.16% 2.68% 2.33% 1.86% 2.75% 2.96% 1.45% 1.86% 1.56% 3.06% -3.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.63% 3.04% 2.21% 1.86% 2.75% 2.96% 1.45% 2.68% 2.07% 3.03% -4.17%
Return on Net Nonoperating Assets (RNNOA)		 12.47% 10.61% 8.02% 6.42% 8.23% 7.70% 4.03% 13.21% 11.18% 12.27% -15.39%
Return on Equity (ROE)		 17.63% 13.29% 10.35% 8.27% 10.98% 10.65% 5.49% 15.07% 12.75% 15.33% -18.75%
Cash Return on Invested Capital (CROIC)		 -17.39% -96.36% -8.07% 5.19% 20.06% -36.36% -6.80% -93.38% -16.16% -3.29% 16.68%
Operating Return on Assets (OROA)		 5.14% 3.03% 2.64% 1.86% 2.26% 1.61% 1.05% 1.77% 1.65% 2.98% -4.57%
Return on Assets (ROA)		 4.63% 2.87% 2.16% 1.79% 2.21% 1.87% 0.89% 2.15% 1.92% 2.90% -3.81%
Return on Common Equity (ROCE)		 15.80% 12.12% 9.56% 7.84% 10.60% 10.36% 5.36% 14.05% 11.38% 13.86% -16.97%
Return on Equity Simple (ROE_SIMPLE)		 18.89% 10.14% 10.41% 8.55% 11.28% 9.09% 5.65% 12.54% 11.34% 13.72% -23.42%
Net Operating Profit after Tax (NOPAT)		 35 41 56 46 61 75 46 117 160 351 -362
NOPAT Margin		 36.21% 33.58% 38.38% 22.36% 29.52% 29.71% 11.02% 36.22% 37.47% 55.07% -366.12%
Net Nonoperating Expense Percent (NNEP)		 0.53% -0.36% 0.12% 0.00% 0.00% 0.00% 0.00% -0.81% -0.51% 0.03% 0.81%
SG&A Expenses to Revenue		 15.51% 18.45% 19.68% 28.74% 29.21% 22.44% 23.67% 21.35% 19.85% 14.48% 95.09%
Operating Expenses to Revenue		 50.80% 44.53% 49.55% 75.59% 69.00% 73.01% 78.66% 56.70% 50.81% 42.67% 326.57%
Earnings before Interest and Taxes (EBIT)		 36 47 65 48 63 65 54 132 175 358 -517
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8.43 35 67 62 78 79 88 108 177 425 -464
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.26 0.10 0.09 0.41 0.40 0.46 0.53 0.70 0.55 0.63 0.67
Price to Tangible Book Value (P/TBV)		 0.30 0.10 0.09 0.41 0.40 0.46 0.53 0.70 0.55 0.63 0.67
Price to Revenue (P/Rev)		 0.46 0.36 0.33 1.06 1.06 1.52 1.03 2.51 2.18 2.41 11.64
Price to Earnings (P/E)		 1.54 1.08 0.98 5.02 3.72 5.25 9.57 5.41 4.99 4.63 0.00
Dividend Yield		 28.17% 29.11% 28.36% 21.79% 22.85% 18.83% 16.50% 15.04% 19.73% 16.38% 16.13%
Earnings Yield		 64.80% 92.17% 101.81% 19.92% 26.89% 19.04% 10.45% 18.49% 20.03% 21.60% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.78 0.80 0.78 0.84 0.81 0.82 0.83 0.93 0.91 0.91 0.92
Enterprise Value to Revenue (EV/Rev)		 6.08 14.97 13.57 9.98 7.98 9.80 6.52 26.76 23.86 16.89 90.41
Enterprise Value to EBITDA (EV/EBITDA)		 70.49 51.76 29.45 32.87 21.21 31.38 30.98 80.07 57.26 25.35 0.00
Enterprise Value to EBIT (EV/EBIT)		 16.37 38.18 30.11 42.90 26.43 38.39 50.07 65.57 58.06 30.05 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 16.79 44.58 35.34 44.62 27.03 32.99 59.18 73.87 63.69 30.67 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 66.43 161.42 5.80 11.84 0.00 39.58 0.00 28.29 210.68 32.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 15.97 3.71 0.00 0.00 0.00 0.00 0.00 4.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.95 3.71 3.54 3.37 2.62 2.60 2.96 6.21 4.85 3.47 3.98
Long-Term Debt to Equity		 2.41 3.34 3.54 3.37 2.62 2.60 2.96 6.21 4.85 3.47 3.98
Financial Leverage		 2.70 3.49 3.62 3.46 2.99 2.60 2.77 4.93 5.40 4.05 3.69
Leverage Ratio		 3.81 4.64 4.78 4.63 4.97 5.69 6.16 7.02 6.64 5.29 4.92
Compound Leverage Factor		 3.81 5.21 4.78 4.63 4.97 5.69 6.16 7.02 6.64 5.29 4.92
Debt to Total Capital		 74.66% 78.76% 77.99% 77.11% 72.35% 72.19% 74.72% 86.14% 82.91% 77.64% 79.92%
Short-Term Debt to Total Capital		 13.50% 7.76% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 61.16% 71.00% 77.99% 77.11% 72.35% 72.19% 74.72% 86.14% 82.91% 77.63% 79.92%
Preferred Equity to Total Capital		 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 1.20% 1.00% 0.94% 1.15%
Noncontrolling Interests to Total Capital		 2.64% 1.72% 1.56% 0.80% 0.94% 0.64% 0.57% 0.14% 0.97% 0.90% 1.10%
Common Equity to Total Capital		 22.70% 19.52% 20.45% 22.09% 26.71% 27.17% 24.71% 12.53% 15.12% 20.52% 17.84%
Debt to EBITDA		 67.59 51.00 29.33 30.09 18.84 27.79 28.01 74.01 51.89 21.62 -16.67
Net Debt to EBITDA		 62.73 49.39 28.14 29.07 18.15 26.28 25.89 71.41 50.79 21.23 -16.30
Long-Term Debt to EBITDA		 55.37 45.98 29.33 30.09 18.84 27.79 28.01 74.01 51.89 21.62 -16.67
Debt to NOPAT		 16.10 43.92 35.21 40.84 24.01 29.22 53.51 68.28 57.71 26.16 -21.39
Net Debt to NOPAT		 14.94 42.53 33.77 39.45 23.13 27.63 49.46 65.89 56.49 25.68 -20.91
Long-Term Debt to NOPAT		 13.19 39.60 35.21 40.84 24.01 29.22 53.51 68.28 57.71 26.16 -21.39
Noncontrolling Interest Sharing Ratio		 10.42% 8.78% 7.56% 5.27% 3.45% 2.74% 2.27% 6.74% 10.76% 9.62% 9.49%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -119 -1,457 -192 128 448 -923 -215 -5,882 -1,648 -377 1,794
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -6.20 -30.47 -3.33 1.71 4.10 -6.08 -1.23 -28.78 -4.20 -0.53 2.58
Operating Cash Flow to Interest Expense		 -13.64 0.57 0.21 4.72 1.28 -0.35 0.39 -0.17 0.92 0.07 0.39
Operating Cash Flow Less CapEx to Interest Expense		 -13.64 0.73 0.33 4.79 1.30 -0.22 0.49 0.04 0.93 0.18 0.49
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.08 0.06 0.08 0.07 0.06 0.08 0.04 0.04 0.05 0.01
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 763 2,260 2,508 2,426 2,040 3,038 3,299 9,299 11,107 11,835 9,680
Invested Capital Turnover		 0.14 0.08 0.06 0.08 0.09 0.10 0.13 0.05 0.04 0.06 0.01
Increase / (Decrease) in Invested Capital		 155 1,497 248 -82 -386 998 261 5,999 1,808 728 -2,155
Enterprise Value (EV)		 594 1,807 1,964 2,044 1,661 2,476 2,726 8,665 10,161 10,772 8,928
Market Capitalization		 45 44 48 217 220 383 429 812 930 1,534 1,149
Book Value per Share		 $21.73 $55.35 $58.06 $16.75 $16.99 $18.30 $14.97 $15.83 $15.20 $14.11 $10.25
Tangible Book Value per Share		 $18.95 $55.23 $58.06 $16.75 $16.99 $18.30 $14.97 $15.83 $15.20 $14.11 $10.25
Total Capital		 763 2,260 2,508 2,426 2,040 3,038 3,299 9,299 11,107 11,835 9,680
Total Debt		 570 1,780 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735
Total Long-Term Debt		 467 1,605 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735
Net Debt		 529 1,724 1,877 1,807 1,421 2,073 2,278 7,729 9,012 9,020 7,561
Capital Expenditures (CapEx)		 0.00 -7.57 -6.63 -4.80 -1.63 -19 -17 -42 -7.52 -78 -67
Net Nonoperating Expense (NNE)		 2.67 -4.24 2.16 0.00 0.00 0.00 0.00 -43 -44 2.83 69
Net Nonoperating Obligations (NNO)		 570 1,780 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735
Total Depreciation and Amortization (D&A)		 -28 -12 1.48 15 15 14 34 -24 2.43 67 53
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.35 ($0.16) $0.00 $1.38 $1.84 $1.72 $0.81 $2.17 $1.73 $2.25 ($2.63)
Adjusted Weighted Average Basic Shares Outstanding		 7.97M 7.97M 30.55M 31.35M 32.09M 42.01M 53.74M 68.51M 106.88M 146.84M 169.11M
Adjusted Diluted Earnings per Share		 $3.08 ($0.16) $0.00 $1.38 $1.84 $1.72 $0.81 $2.17 $1.66 $2.22 ($2.63)
Adjusted Weighted Average Diluted Shares Outstanding		 10.68M 8.90M 30.55M 31.35M 32.10M 42.05M 53.82M 68.66M 117.19M 148.57M 170.47M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $1.72 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.97M 7.97M 26.65M 32.00M 32.12M 52.03M 54.43M 83.33M 110.73M 172.55M 163.15M
Normalized Net Operating Profit after Tax (NOPAT)		 35 41 56 46 61 51 46 130 176 377 -315
Normalized NOPAT Margin		 36.21% 33.58% 38.38% 22.36% 29.52% 20.02% 11.04% 40.14% 41.25% 59.13% -318.89%
Pre Tax Income Margin		 37.13% 44.10% 45.05% 23.26% 30.19% 25.53% 13.03% 40.81% 41.10% 56.19% -523.02%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.89 0.99 1.13 0.64 0.58 0.42 0.31 0.65 0.45 0.50 -0.74
NOPAT to Interest Expense		 1.84 0.85 0.96 0.61 0.56 0.49 0.26 0.57 0.41 0.49 -0.52
EBIT Less CapEx to Interest Expense		 1.89 1.15 1.24 0.70 0.59 0.55 0.41 0.85 0.47 0.61 -0.65
NOPAT Less CapEx to Interest Expense		 1.84 1.01 1.08 0.68 0.58 0.62 0.36 0.78 0.43 0.60 -0.42
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 52.92% 79.54% 87.77% 105.34% 83.50% 84.37% 123.48% 69.96% 92.45% 61.73% -47.88%
Augmented Payout Ratio		 52.92% 79.54% 87.77% 105.49% 83.50% 84.37% 143.52% 69.96% 110.65% 66.93% -66.99%

Quarterly Metrics And Ratios for Ready Capital

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

Metric Q1 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 3/31/2022 9/30/2022 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
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 - 3.89% 103.55% -41.31% 172.51% -33.13% 5,689.76% -160.95% -109.33% 7.56% -31.54%
EBITDA Growth		 - 25.21% -180.16% -35.67% 293.97% 12.70% 280.50% -253.62% -134.03% -101.31% -711.90%
EBIT Growth		 - 33.83% -1,432.15% -52.00% 256.11% -34.77% 154.76% -368.44% -132.43% -134.27% -1,313.05%
NOPAT Growth		 - 42.37% -403.97% -40.08% 314.71% -34.31% 174.39% -292.31% -122.90% -125.54% -992.86%
Net Income Growth		 - 42.37% -74.47% -42.46% 329.70% -28.79% -20.47% -300.57% -113.50% -115.43% -2,992.67%
EPS Growth		 - -16.67% -94.20% -56.06% 291.11% -50.00% -300.00% -251.72% -113.07% -128.00% -2,262.50%
Operating Cash Flow Growth		 - 162.04% 370.42% -106.15% -40.80% -30.86% -113.66% 2,685.45% -97.23% 407.90% 198.34%
Free Cash Flow Firm Growth		 - 57.69% 69.26% 96.67% 45.80% -32.98% 61.78% 2,623.58% 137.37% 232.78% 374.98%
Invested Capital Growth		 - 28.29% 19.44% 1.97% 25.84% 28.94% 6.56% -40.78% -7.43% -29.49% -18.21%
Revenue Q/Q Growth		 - 20.59% -98.70% 4,464.30% 279.63% -70.41% 12.91% -157.74% 41.86% 441.01% -28.13%
EBITDA Q/Q Growth		 - -1.75% -142.82% 280.41% 419.03% -71.89% -31.42% -271.01% -14.98% 98.92% -31,863.66%
EBIT Q/Q Growth		 - 2.52% -166.73% 183.15% 526.05% -81.22% -43.98% -601.94% 24.38% 80.16% -1,882.96%
NOPAT Q/Q Growth		 - 12.36% -150.08% 216.07% 535.00% -82.20% -43.28% -452.22% 24.38% 80.16% -1,882.96%
Net Income Q/Q Growth		 - 12.36% -79.35% 170.27% 585.20% -81.38% -76.94% -781.62% 53.89% 78.72% -4,224.10%
EPS Q/Q Growth		 - 11.11% -92.00% 625.00% 506.90% -85.80% -132.00% -450.00% 47.73% 69.57% -2,600.00%
Operating Cash Flow Q/Q Growth		 - -2.28% 244.58% -100.42% 4,305.73% 14.15% -168.10% 179.09% -95.49% 20,822.23% -86.81%
Free Cash Flow Firm Q/Q Growth		 - 50.92% 26.00% 90.22% -1,425.63% -20.42% 78.73% 4.21% -77.41% 327.84% -55.95%
Invested Capital Q/Q Growth		 - 0.04% -4.12% 1.97% 28.65% 2.51% -20.76% -0.88% 101.11% -21.92% -8.09%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 - 42.66% -1,400.82% 55.37% 75.70% 71.90% 43.67% 0.00% 0.00% -0.88% -390.33%
EBIT Margin		 - 47.65% -2,438.17% 44.42% 73.25% 46.48% 23.06% 0.00% 0.00% -14.81% -408.57%
Profit (Net Income) Margin		 - 44.45% 703.81% 41.67% 75.22% 47.33% 9.67% 0.00% 0.00% -6.79% -408.46%
Tax Burden Percent		 - 93.28% -28.87% 93.83% 102.69% 101.83% 41.92% 70.11% 42.75% 45.85% 99.97%
Interest Burden Percent		 - 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 - 6.72% 0.00% 2.29% 0.89% 6.06% 4.90% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 - 1.59% -71.23% 1.41% 3.20% 1.74% 1.22% 0.00% 0.00% -0.11% -2.63%
ROIC Less NNEP Spread (ROIC-NNEP)		 - 1.59% -70.69% 1.39% 3.28% 1.77% 1.07% 0.00% 0.00% -0.07% -3.74%
Return on Net Nonoperating Assets (RNNOA)		 - 8.62% -381.81% 6.69% 15.06% 8.26% 4.33% 0.00% 0.00% -0.29% -13.79%
Return on Equity (ROE)		 - 10.21% -453.04% 8.10% 18.26% 10.00% 5.55% 0.00% 0.00% -0.40% -16.42%
Cash Return on Invested Capital (CROIC)		 - -22.84% -16.16% -0.76% -20.44% -23.04% -3.29% 53.86% 7.15% 33.62% 16.68%
Operating Return on Assets (OROA)		 - 1.67% -98.15% 1.40% 3.47% 1.99% 1.22% 0.00% 0.00% -0.17% -3.57%
Return on Assets (ROA)		 - 1.55% 28.33% 1.32% 3.57% 2.02% 0.51% 0.00% 0.00% -0.08% -3.57%
Return on Common Equity (ROCE)		 - 9.06% -404.28% 7.16% 16.53% 9.06% 5.01% 0.00% 0.00% -0.37% -14.86%
Return on Equity Simple (ROE_SIMPLE)		 - 13.02% 0.00% 9.88% 14.22% 13.55% 0.00% 9.87% -2.19% -4.69% 0.00%
Net Operating Profit after Tax (NOPAT)		 - 66 -33 39 245 44 25 -74 -56 -11 -220
NOPAT Margin		 - 44.45% -1,706.72% 43.40% 72.59% 43.66% 21.93% 0.00% 0.00% -10.37% -286.00%
Net Nonoperating Expense Percent (NNEP)		 - 0.00% -0.54% 0.02% -0.08% -0.03% 0.15% 0.00% -0.19% -0.04% 1.12%
SG&A Expenses to Revenue		 - 18.57% -103.34% 24.85% 7.40% 23.05% 19.92% 0.00% 0.00% 23.81% 34.61%
Operating Expenses to Revenue		 - 50.05% 796.45% 63.17% 20.99% 65.71% 71.00% 0.00% 0.00% 65.22% 138.71%
Earnings before Interest and Taxes (EBIT)		 - 71 -47 39 247 46 26 -106 -80 -16 -315
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 - 64 -27 49 255 72 49 -75 -87 -0.94 -301
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 - 0.52 0.55 0.57 0.44 0.62 0.63 0.66 0.63 0.60 0.67
Price to Tangible Book Value (P/TBV)		 - 0.52 0.55 0.57 0.44 0.62 0.63 0.66 0.63 0.60 0.67
Price to Revenue (P/Rev)		 - 2.45 2.18 2.61 1.90 2.89 2.41 3.06 10.90 9.56 11.64
Price to Earnings (P/E)		 - 3.97 4.99 6.01 3.12 4.58 4.63 6.82 0.00 0.00 0.00
Dividend Yield		 - 21.22% 19.73% 19.13% 16.41% 17.58% 16.38% 15.45% 15.40% 15.07% 16.13%
Earnings Yield		 - 25.17% 20.03% 16.63% 32.08% 21.83% 21.60% 14.65% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 - 0.90 0.91 0.92 0.89 0.92 0.91 0.86 0.92 0.90 0.92
Enterprise Value to Revenue (EV/Rev)		 - 28.36 23.86 28.75 22.45 26.17 16.89 11.60 98.34 70.62 90.41
Enterprise Value to EBITDA (EV/EBITDA)		 - 53.69 57.26 69.54 38.02 39.59 25.35 19.11 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 - 46.32 58.06 78.94 41.79 48.41 30.05 26.92 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 - 52.24 63.69 78.07 40.53 46.52 30.67 24.20 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 - 55.60 28.29 30.41 40.81 46.34 210.68 76.04 324.53 43.89 32.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 - 0.00 0.00 0.00 0.00 0.00 0.00 1.18 12.42 2.21 4.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 - 4.86 4.85 5.00 4.37 4.53 3.47 1.67 4.62 3.50 3.98
Long-Term Debt to Equity		 - 4.86 4.85 5.00 4.37 4.53 3.47 1.67 4.62 3.50 3.98
Financial Leverage		 - 5.41 5.40 4.82 4.59 4.67 4.05 3.10 4.49 4.05 3.69
Leverage Ratio		 - 6.57 6.64 5.97 5.19 5.27 5.29 5.36 4.73 4.77 4.92
Compound Leverage Factor		 - 6.57 6.64 5.97 5.19 5.27 5.29 5.36 4.73 4.77 4.92
Debt to Total Capital		 - 82.93% 82.91% 83.32% 81.39% 81.92% 77.64% 62.60% 82.20% 77.80% 79.92%
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		 - 82.93% 82.91% 83.32% 81.39% 81.92% 77.63% 62.60% 82.20% 77.80% 79.92%
Preferred Equity to Total Capital		 - 0.96% 1.00% 0.98% 0.76% 0.75% 0.94% 1.66% 0.83% 1.06% 1.15%
Noncontrolling Interests to Total Capital		 - 0.95% 0.97% 0.96% 0.74% 0.72% 0.90% 1.57% 0.80% 1.00% 1.10%
Common Equity to Total Capital		 - 15.16% 15.12% 14.73% 17.10% 16.61% 20.52% 34.17% 16.17% 20.15% 17.84%
Debt to EBITDA		 - 49.27 51.89 62.82 34.83 35.10 21.62 13.98 -267.66 -71.85 -16.67
Net Debt to EBITDA		 - 47.91 50.79 61.75 34.16 34.58 21.23 13.34 -262.19 -69.98 -16.30
Long-Term Debt to EBITDA		 - 49.27 51.89 62.82 34.83 35.10 21.62 13.98 -267.66 -71.85 -16.67
Debt to NOPAT		 - 47.94 57.71 70.53 37.13 41.25 26.16 17.70 -139.53 -66.61 -21.39
Net Debt to NOPAT		 - 46.61 56.49 69.33 36.42 40.64 25.68 16.90 -136.68 -64.88 -20.91
Long-Term Debt to NOPAT		 - 47.94 57.71 70.53 37.13 41.25 26.16 17.70 -139.53 -66.61 -21.39
Noncontrolling Interest Sharing Ratio		 - 11.21% 10.76% 11.59% 9.44% 9.42% 9.62% 0.00% 0.00% 8.64% 9.49%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 - -2,488 -1,841 -180 -2,748 -3,309 -704 4,545 1,027 4,393 1,935
Operating Cash Flow to CapEx		 - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 - -21.54 -13.64 -1.13 0.00 -17.43 -1.91 24.73 0.00 25.02 5.74
Operating Cash Flow to Interest Expense		 - 0.55 1.61 -0.01 0.00 0.23 -0.08 0.13 0.00 1.26 0.09
Operating Cash Flow Less CapEx to Interest Expense		 - 0.59 1.61 0.21 0.00 0.30 0.00 0.13 0.00 1.39 0.12
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 - 0.04 0.04 0.03 0.05 0.04 0.05 0.04 0.01 0.01 0.01
Fixed Asset Turnover		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 - 11,583 11,107 11,325 14,570 14,936 11,835 6,707 13,488 10,531 9,680
Invested Capital Turnover		 - 0.04 0.04 0.03 0.04 0.04 0.06 0.05 0.01 0.01 0.01
Increase / (Decrease) in Invested Capital		 - 2,554 1,808 219 2,992 3,352 728 -4,619 -1,083 -4,404 -2,155
Enterprise Value (EV)		 - 10,468 10,161 10,445 12,945 13,799 10,772 5,740 12,461 9,480 8,928
Market Capitalization		 - 906 930 949 1,093 1,526 1,534 1,515 1,381 1,283 1,149
Book Value per Share		 - $15.35 $15.20 $15.07 $22.50 $14.43 $14.11 $13.32 $12.92 $12.61 $10.25
Tangible Book Value per Share		 - $15.35 $15.20 $15.07 $22.50 $14.43 $14.11 $13.32 $12.92 $12.61 $10.25
Total Capital		 - 11,583 11,107 11,325 14,570 14,936 11,835 6,707 13,488 10,531 9,680
Total Debt		 - 9,606 9,208 9,437 11,859 12,236 9,188 4,198 11,087 8,193 7,735
Total Long-Term Debt		 - 9,606 9,208 9,437 11,859 12,236 9,188 4,198 11,087 8,193 7,735
Net Debt		 - 9,341 9,012 9,276 11,631 12,054 9,020 4,008 10,861 7,980 7,561
Capital Expenditures (CapEx)		 - -5.49 -0.51 -34 -1.02 -13 -30 -1.31 -33 -22 -10
Net Nonoperating Expense (NNE)		 - 0.00 -47 1.53 -8.84 -3.66 14 0.11 -22 -3.83 94
Net Nonoperating Obligations (NNO)		 - 9,606 9,208 9,437 11,859 12,236 9,188 4,198 11,087 8,193 7,735
Total Depreciation and Amortization (D&A)		 - -7.44 20 9.72 8.26 25 23 30 -6.77 15 14
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 - $0.53 $0.03 $0.30 $1.87 $0.25 ($0.17) ($0.44) ($0.23) ($0.07) ($1.89)
Adjusted Weighted Average Basic Shares Outstanding		 - 114.37M 106.88M 110.67M 131.65M 171.97M 146.84M 172.03M 168.65M 168.34M 169.11M
Adjusted Diluted Earnings per Share		 - $0.50 $0.04 $0.29 $1.76 $0.25 ($0.08) ($0.44) ($0.23) ($0.07) ($1.89)
Adjusted Weighted Average Diluted Shares Outstanding		 - 125.67M 117.19M 121.03M 141.58M 174.44M 148.57M 173.10M 169.86M 169.51M 170.47M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 - 110.51M 110.73M 110.75M 171.97M 172.12M 172.55M 168.87M 168.21M 168.53M 163.15M
Normalized Net Operating Profit after Tax (NOPAT)		 - 68 -30 39 258 46 25 -74 -55 -9.02 -217
Normalized NOPAT Margin		 - 45.41% -1,525.70% 44.38% 76.70% 45.85% 22.42% 0.00% 0.00% -8.41% -281.57%
Pre Tax Income Margin		 - 47.65% -2,438.17% 44.42% 73.25% 46.48% 23.06% 0.00% 0.00% -14.81% -408.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 - 0.62 -0.35 0.25 0.00 0.24 0.07 -0.58 0.00 -0.09 -0.93
NOPAT to Interest Expense		 - 0.57 -0.25 0.24 0.00 0.23 0.07 -0.40 0.00 -0.06 -0.65
EBIT Less CapEx to Interest Expense		 - 0.66 -0.35 0.46 0.00 0.31 0.15 -0.57 0.00 0.04 -0.90
NOPAT Less CapEx to Interest Expense		 - 0.62 -0.24 0.45 0.00 0.30 0.15 -0.40 0.00 0.06 -0.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 - 70.05% 92.45% 114.09% 61.10% 57.36% 61.73% 93.71% -394.22% -215.94% -47.88%
Augmented Payout Ratio		 - 71.62% 110.65% 114.09% 75.97% 71.95% 66.93% 109.37% -472.13% -253.35% -66.99%

Key Financial Trends

Ready Capital (NYSE: RC) Financial Analysis Summary (2021-2024)

Analyzing Ready Capital's financial results over the last four years reveals several key trends in profitability, revenue, expenses, cash flow, and balance sheet stability.

  • Revenue Fluctuation: Total interest income generally remained strong, peaking towards 2023 with quarterly incomes over $420 million but showed some variability in 2024 quarters, indicating sensitivity to market conditions and portfolio changes.
  • Net Interest Income: Net interest income, a key driver, was positive and steady ranging between $45 million to $70 million across the periods, supporting core earnings.
  • Provision for Credit Losses: Dropped significantly from substantial positive provisions (~$66 million in Q4 2023) to large negative provisions in 2024 quarters, reflecting release of reserves or improving asset quality that can boost earnings.
  • Net Income Recovery in 2023: The company returned to profitability in 2023 with several quarters posting positive net income attributable to common shareholders, driven by gains and strong interest management.
  • Capital Management: Total common equity increased over time, reaching over $2.1 billion by Q3 2024, signaling strengthened capitalization.
  • Non-Interest Income Volatility: Other non-interest income showed volatility with notable unrealized capital losses impacting net income, especially significant negative values in some 2024 quarters, adding earnings uncertainty.
  • Operating Expenses Growth: Total non-interest expenses gradually increased, including restructuring charges and other operating expenses, which could pressure margins but are expected in growth or restructuring phases.
  • Cash Dividends: Dividends per common share remained stable around $0.25-$0.4 in 2023 and 2024, suggesting consistent return to shareholders despite earnings challenges.
  • Net Losses in 2024: The company experienced significant net losses in 2024 quarters, with Q4 2024 showing a loss of over $318 million attributable to common shareholders, driven mainly by credit loss provisions and unrealized investment losses.
  • Leverage & Debt Level Fluctuations: Long-term debt remains sizable, moving between ~$7.8 billion to $11 billion across the periods. Sharp increases in debt, especially around 2024 Q3, accompanied by repayments and issuance, suggest active but volatile leverage management that could present risk.

Summary: Ready Capital's financial performance has been uneven over recent years. While 2023 showed a return to profitability with improving credit loss provisions and capital base growth, 2024 saw significant challenges with large net losses, volatile non-interest income, and steep provisions for credit losses. The firm maintains substantial assets and equity but faces ongoing pressure from investment losses and high leverage. Investors should monitor credit conditions, expense control, and recovery of net income in coming quarters to gauge sustainability.

08/09/25 01:46 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Ready Capital's Financials

When does Ready Capital's fiscal year end?

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

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

Ready Capital's net income appears to be on a downward trend, with a most recent value of -$430.40 million in 2024, falling from $32.72 million in 2014. The previous period was $348.41 million in 2023. Find out what analysts predict for Ready Capital in the coming months.

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

Over the last 10 years, Ready Capital's total revenue changed from $97.74 million in 2014 to $98.76 million in 2024, a change of 1.0%.

How much debt does Ready Capital have?

Ready Capital's total liabilities were at $8.20 billion at the end of 2024, a 16.3% decrease from 2023, and a 1,268.6% increase since 2014.

How much cash does Ready Capital have?

In the past 10 years, Ready Capital's cash and equivalents has ranged from $33.79 million in 2014 to $229.53 million in 2021, and is currently $143.80 million as of their latest financial filing in 2024.

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

Over the last 10 years, Ready Capital's book value per share changed from 21.73 in 2014 to 10.25 in 2024, a change of -52.9%.


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This page (NYSE:RC) was last updated on 8/9/2025 by MarketBeat.com Staff
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