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.
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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) has experienced notable fluctuations in its financial performance over the past several years, with some clear trends emerging from the analysis of the quarterly financial statements from 2021 through the end of 2024.
Positive Highlights:
- Investment securities interest income has generally increased from approximately $103 million in Q2 2021 to over $230 million in recent 2024 quarters, reflecting strengthening core interest income streams.
- Net interest income remained positive in most quarters, indicating Ready Capital continues to earn more on its interest-bearing assets than it pays on liabilities, despite rising interest expenses.
- Strong cash flows from investing activities are observed, with significant proceeds from the sale or maturity of investments consistently contributing positive cash inflows (e.g., $664 million in Q4 2024).
- The company has maintained consistent dividend payments to common shareholders, with dividends per share ranging from $0.25 to $0.42 during recent quarters.
- Share repurchases have been sporadic but indicate management's intent to return capital to shareholders when appropriate, such as repurchases of $43 million in Q4 2024.
- Total assets have grown overall from around $9.2 billion in Q3 2021 to more than $11 billion by late 2024, demonstrating asset base expansion.
Neutral Observations:
- Salaries and employee benefits expenses have remained fairly stable and in line with company size, ranging from $20 million to $27 million per quarter.
- Other operating expenses show some variability but have stayed in the $18 million to $56 million range, reflecting general administrative costs and perhaps restructuring activities.
- Cash and cash equivalents have fluctuated in a range between approximately $110 million to $230 million across quarters, reflecting typical liquidity management.
- Long-term debt levels have increased significantly from about $7.8 billion in Q3 2021 to over $8 billion by Q3 2024 but also show active repayment and issuance patterns, indicating active balance sheet management.
Challenges and Negative Trends:
- Ready Capital has faced significant net losses in recent periods, with Q4 2024 reporting consolidated net losses exceeding $314 million and similar losses in other 2024 quarters, a stark reversal from profitable quarters in 2022 and early 2023.
- Provision for credit losses has dramatically increased in 2024, reaching $285 million in Q4 2024 compared to much lower historical levels, heavily impacting profitability and signaling potential credit quality issues.
- Net realized and unrealized capital gains on investments turned negative or sharply down in recent quarters, reducing non-interest income substantially (e.g., -$1 million in Q4 2024 and large negative figures earlier in 2024), possibly reflecting market or investment challenges.
- Total non-interest expenses have fluctuated upward, with restructuring charges also appearing, indicating challenges in operational efficiency and potential restructuring needs.
- The company’s net cash used in financing activities has widened, with significant repayments of debt ($972 million in Q4 2024) outpacing issuances, which may pressure cash flows and liquidity.
- Weighted average shares outstanding have increased over time, potentially diluting earnings per share, which have been negative in recent quarters (e.g., -$1.89 per share in Q4 2024), impacting shareholder value.
Summary: Ready Capital experienced strong performance and profitability through 2022 and early 2023 but has encountered considerable headwinds through 2024, including elevated credit loss provisions and investment-related losses leading to significant net losses. While the company maintains healthy core interest income and active asset management, these challenges have dampened earnings. The elevated provisioning for credit losses suggests increased risk or deteriorating asset quality, and investors should monitor these aspects carefully. Stable dividend payments and active capital allocation efforts provide some support, but the negative earnings trend in 2024 highlights risk concerns for shareholders.
08/29/25 07:38 AM ETAI Generated. May Contain Errors.