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Ready Capital (RC) Financials

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$1.54 -0.02 (-0.97%)
As of 01:41 PM Eastern
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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 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		 40 49 43 59 73 45 150 186 331 -444 -237
Consolidated Net Income / (Loss)		 45 53 46 61 75 46 160 203 348 -430 -221
Net Income / (Loss) Continuing Operations		 45 56 46 61 75 46 117 160 351 -412 -216
Total Pre-Tax Income 		53 65 48 63 65 54 132 175 358 -517 -303
Total Revenue		 121 145 205 208 253 418 324 426 638 99 102
Net Interest Income / (Expense)		 101 79 64 60 78 83 191 271 229 201 55
Total Interest Income		 149 137 138 169 230 259 395 271 946 897 569
Investment Securities Interest Income		 - 137 138 169 230 259 395 663 946 897 569
Total Interest Expense		 48 58 75 109 152 175 204 0.00 716 696 514
Long-Term Debt Interest Expense		 48 58 75 109 152 175 204 - 716 696 514
Total Non-Interest Income		 20 66 141 148 175 335 133 155 408 -102 47
Other Service Charges		 20 9.16 7.41 65 11 42 6.86 56 106 51 54
Net Realized & Unrealized Capital Gains on Investments		 - 48 111 55 49 239 109 87 282 -169 -26
Other Non-Interest Income		 - 8.66 23 27 114 54 18 11 21 17 19
Provision for Credit Losses		 20 7.82 2.36 1.70 3.68 35 8.05 34 7.23 293 87
Total Non-Interest Expense		 54 72 155 144 184 329 184 216 272 323 317
Salaries and Employee Benefits		 22 28 59 61 57 99 69 85 92 94 104
Insurance Policy Acquisition Costs		 0.97 - - 1.14 0.11 5.97 5.42 3.11 1.79 0.00 0.00
Other Operating Expenses		 31 43 96 82 120 224 95 111 152 162 183
Impairment Charge		 - - - - - - - 4.03 8.64 57 24
Restructuring Charge		 - - - 0.00 7.75 0.06 14 14 18 10 6.05
Income Tax Expense		 7.81 9.65 1.84 1.39 -11 8.38 15 15 7.17 -105 -87
Net Income / (Loss) Discontinued Operations		 -0.65 -2.16 - - - - 43 44 -2.83 -18 -5.21
Preferred Stock Dividends Declared		 - - - - 0.00 0.00 7.50 8.00 8.00 8.00 8.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.39 4.24 2.52 2.20 2.09 1.20 2.23 8.90 8.96 5.36 7.85
Basic Earnings per Share		 $1.59 $1.85 $1.38 $1.84 $1.72 $0.81 $2.17 $1.73 $2.25 ($2.63) ($1.44)
Weighted Average Basic Shares Outstanding		 25.29M 26.65M 31.35M 32.09M 42.01M 53.74M 68.51M 106.88M 146.84M 169.11M 164.54M
Diluted Earnings per Share		 $1.59 $1.85 $1.38 $1.84 $1.72 $0.81 $2.16 $1.65 $2.22 ($2.63) ($1.44)
Weighted Average Diluted Shares Outstanding		 25.29M 26.65M 31.35M 32.10M 42.05M 53.82M 68.66M 117.19M 148.57M 170.47M 167.26M
Weighted Average Basic & Diluted Shares Outstanding		 25.29M 26.65M 31.40M 32.20M 52.03M 54.43M 83.33M 110.73M 172.55M 163.15M 162.88M
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 $0.39

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 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		 44 7.76 -76 -38 -11 -318 78 -57 -21 -236 -204
Consolidated Net Income / (Loss)		 47 11 -74 -34 -7.28 -315 82 -54 -17 -233 -200
Net Income / (Loss) Continuing Operations		 44 25 -76 -31 -7.47 -298 82 -49 -17 -233 -200
Total Pre-Tax Income 		46 26 -106 -80 -16 -315 77 -89 -27 -264 -217
Total Revenue		 100 113 -54 -31 107 77 40 -9.77 85 -14 -63
Net Interest Income / (Expense)		 59 53 49 51 51 50 15 17 11 13 -15
Total Interest Income		 249 420 232 51 227 387 15 17 11 527 82
Investment Securities Interest Income		 249 250 232 234 227 204 155 153 137 124 82
Total Interest Expense		 190 368 184 0.00 176 337 0.00 0.00 0.00 514 97
Long-Term Debt Interest Expense		 190 - 184 - 176 - - - - - 97
Total Non-Interest Income		 41 60 -103 -82 56 27 26 -27 75 -27 -48
Other Service Charges		 19 48 16 6.60 15 14 12 11 15 16 18
Net Realized & Unrealized Capital Gains on Investments		 15 7.55 -122 -11 -35 -1.04 7.69 -38 -126 130 -72
Other Non-Interest Income		 0.00 11 3.76 -78 76 19 6.46 -0.30 186 -173 5.42
Provision for Credit Losses		 -12 6.69 -27 -19 53 285 -110 8.64 38 150 71
Total Non-Interest Expense		 66 80 78 67 70 107 73 70 74 100 83
Salaries and Employee Benefits		 23 22 21 21 26 27 25 27 25 28 27
Other Operating Expenses		 40 48 40 36 41 19 43 39 46 56 55
Impairment Charge		 - - 17 9.13 0.53 - 2.35 4.27 1.86 15 -0.47
Restructuring Charge		 2.33 0.58 0.65 1.59 3.00 4.88 2.69 0.64 1.91 0.81 0.34
Income Tax Expense		 2.81 1.27 -30 -49 -8.40 -17 -5.21 -40 -9.94 -32 -17
Net Income / (Loss) Discontinued Operations		 3.66 -14 1.42 -2.77 0.19 -17 -0.45 -4.93 0.21 -0.05 0.00
Preferred Stock Dividends Declared		 2.00 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		 1.52 1.12 0.12 1.82 2.03 1.39 2.46 1.81 2.01 1.57 1.64
Basic Earnings per Share		 $0.25 ($0.17) ($0.44) ($0.23) ($0.07) ($1.89) $0.47 ($0.34) ($0.13) ($1.44) ($1.25)
Weighted Average Basic Shares Outstanding		 171.97M 146.84M 172.03M 168.65M 168.34M 169.11M 165.17M 167.75M 163.57M 164.54M 163.67M
Diluted Earnings per Share		 $0.25 ($0.08) ($0.44) ($0.23) ($0.07) ($1.89) $0.46 ($0.34) ($0.13) ($1.43) ($1.25)
Weighted Average Diluted Shares Outstanding		 174.44M 148.57M 173.10M 169.86M 169.51M 170.47M 167.72M 170.67M 165.87M 167.26M 167.65M
Weighted Average Basic & Diluted Shares Outstanding		 172.12M 172.55M 168.87M 168.21M 168.53M 163.15M 170.51M 164.33M 162.13M 162.88M 165.22M
Cash Dividends to Common per Share		 $0.36 $0.30 $0.30 $0.30 $0.25 $0.25 $0.13 $0.13 $0.13 $0.01 $0.01

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 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		 -15 23 10 4.02 33 73 228 106 -11 -80 67
Net Cash From Operating Activities		 27 12 352 140 -52 69 -34 359 51 275 432
Net Cash From Continuing Operating Activities		 29 16 352 140 -52 69 -90 274 59 286 456
Net Income / (Loss) Continuing Operations		 45 56 46 61 75 46 117 160 351 -412 -216
Consolidated Net Income / (Loss)		 45 53 46 61 75 46 160 203 348 -430 -221
Net Income / (Loss) Discontinued Operations		 0.65 2.16 - - - - - - -2.83 -18 -5.21
Provision For Loan Losses		 20 7.82 - 1.70 3.68 35 9.35 38 16 295 87
Depreciation Expense		 - - - - - - - - 0.00 0.00 2.81
Amortization Expense		 -12 1.48 15 15 14 34 -24 2.43 67 53 46
Non-Cash Adjustments to Reconcile Net Income		 -8.35 -22 272 74 -119 -132 -166 119 -288 485 687
Changes in Operating Assets and Liabilities, net		 -16 -27 20 -13 -27 87 -27 -45 -87 -134 -151
Net Cash From Discontinued Operating Activities		 - - - - - - - - -7.87 -12 -24
Net Cash From Investing Activities		 -187 390 -236 -581 -1,213 -59 -1,718 -1,556 1,019 1,535 1,643
Net Cash From Continuing Investing Activities		 -187 390 -236 -581 -1,213 -59 -1,718 -1,552 1,021 1,435 1,599
Acquisitions		 - - - - - - - - 39 -44 16
Purchase of Investment Securities		 -702 -431 -671 -1,379 -781 -1,055 -4,038 -3,988 -1,043 -861 -623
Sale of Property, Leasehold Improvements and Equipment		 7.57 6.63 4.80 1.63 19 17 42 7.52 78 67 73
Divestitures		 - 39 - - - 0.00 - - 0.00 0.00 4.25
Sale and/or Maturity of Investments		 509 777 432 797 857 979 4,409 2,448 1,957 2,288 2,177
Other Investing Activities, net		 -1.71 -2.32 -1.10 -0.56 -1,307 0.00 -2,130 -19 -9.05 -15 -48
Net Cash From Discontinued Investing Activities		 - - - - - - - - -1.91 100 43
Net Cash From Financing Activities		 145 -381 -107 444 1,298 63 1,876 1,171 -1,085 -1,880 -2,038
Net Cash From Continuing Financing Activities		 145 -381 -107 444 1,298 63 1,939 1,264 -1,133 -1,839 -2,033
Issuance of Debt		 9,389 4,620 5,151 4,303 6,899 7,366 12,702 10,378 5,248 2,320 3,326
Issuance of Common Equity		 - - - 0.09 91 13 165 123 0.11 0.00 0.00
Repayment of Debt		 -9,207 -4,953 -5,209 -3,780 -5,599 -7,236 -10,718 -8,939 -6,103 -3,858 -5,146
Repurchase of Common Equity		 - -0.00 -0.07 0.00 0.00 -9.24 0.00 -37 -18 -82 -68
Payment of Dividends		 -36 -47 -48 -51 -63 -57 -112 -188 -215 -206 -113
Other Financing Activities, Net		 -2.70 -1.46 -0.06 -28 -29 -14 11 -73 -45 -13 -32
Net Cash From Discontinued Financing Activities		 - - - - - - - - 48 -41 -4.32
Other Net Changes in Cash		 -0.84 -1.72 - - - - 55 81 -15 -70 37
Cash Interest Paid		 45 55 62 96 126 156 186 355 661 659 489
Cash Income Taxes Paid		 7.00 6.16 3.77 0.90 -2.66 -8.48 13 29 2.01 -12 -0.03

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 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		 -83 -20 -27 44 -43 -53 66 -26 -28 55 -8.33
Net Cash From Operating Activities		 44 -30 23 1.06 221 29 108 -100 435 -11 590
Net Cash From Continuing Operating Activities		 18 -7.79 16 34 238 -1.88 80 -48 435 -11 590
Net Income / (Loss) Continuing Operations		 44 25 -76 -31 -7.47 -298 82 -49 -17 -233 -200
Consolidated Net Income / (Loss)		 47 11 -74 -34 -7.28 -315 82 -54 -17 -233 -200
Net Income / (Loss) Discontinued Operations		 - - 1.42 -2.77 0.19 -17 -0.45 -4.93 0.21 -0.05 0.00
Provision For Loan Losses		 -9.49 8.79 -25 -18 53 285 -110 8.64 38 150 71
Depreciation Expense		 - - - - - - 0.00 - - 1.71 1.58
Amortization Expense		 25 23 30 -6.77 15 14 11 16 6.17 12 12
Non-Cash Adjustments to Reconcile Net Income		 -24 -1.70 124 111 162 57 88 4.27 492 103 663
Changes in Operating Assets and Liabilities, net		 -17 -21 -37 -21 15 -61 8.61 -28 -47 -84 37
Net Cash From Discontinued Operating Activities		 - - 7.51 -33 -17 31 28 -52 - - 0.00
Net Cash From Investing Activities		 257 429 305 320 373 537 307 482 493 360 669
Net Cash From Continuing Investing Activities		 257 430 305 259 374 497 252 493 493 360 669
Purchase of Investment Securities		 -370 -141 -207 -540 -197 -168 -186 -145 -129 -179 -98
Sale of Property, Leasehold Improvements and Equipment		 13 30 1.31 33 22 10 7.10 1.22 49 15 37
Sale and/or Maturity of Investments		 616 542 500 546 577 664 416 621 565 574 731
Other Investing Activities, net		 -1.68 -1.13 10 220 -28 -11 -1.34 - - -47 0.00
Net Cash From Discontinued Investing Activities		 - - -0.19 61 -0.75 40 55 -12 - - 0.00
Net Cash From Financing Activities		 -377 -429 -360 -267 -645 -608 -355 -432 -956 -294 -1,267
Net Cash From Continuing Financing Activities		 -358 -450 -348 -278 -666 -548 -296 -487 -956 -294 -1,267
Issuance of Debt		 481 418 925 768 114 514 1,476 1,200 326 324 867
Repayment of Debt		 -804 -799 -1,193 -970 -722 -972 -1,696 -1,620 -1,240 -590 -2,127
Repurchase of Common Equity		 -0.01 - -19 -20 - -43 -17 -38 -11 -1.88 0.00
Payment of Dividends		 -26 -65 -54 -53 -54 -45 -44 -24 -23 -23 -3.63
Other Financing Activities, Net		 -9.16 -3.68 -5.91 -2.23 -3.81 -1.48 -15 -5.28 -7.86 -4.03 -3.79
Net Cash From Discontinued Financing Activities		 - - -12 11 21 -60 -59 54 - - 0.00
Cash Interest Paid		 160 189 178 177 166 138 134 129 122 104 79
Cash Income Taxes Paid		 -0.11 1.47 0.22 -12 -0.00 0.01 -0.30 0.04 0.03 0.19 -0.04

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 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
Total Assets		 2,330 2,605 2,524 3,037 4,977 5,372 9,534 11,621 12,441 10,142 7,770
Cash and Due from Banks		 42 60 63 54 68 139 230 147 139 144 208
Restricted Cash		 15 20 - - 52 48 52 48 30 31 40
Trading Account Securities		 463 352 95 125 151 168 241 151 163 201 203
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 82 242 586
Other Assets		 1,809 1,991 2,149 2,857 4,518 2,159 8,459 11,151 12,028 9,525 6,734
Total Liabilities & Shareholders' Equity		 2,330 2,605 2,524 3,037 4,977 5,372 9,534 11,621 12,441 10,142 7,770
Total Liabilities		 1,850 2,053 1,968 2,473 4,132 4,538 8,245 9,722 9,794 8,198 6,118
Short-Term Debt		 175 - - - - - - - 0.21 0.35 1.43
Other Short-Term Payables		 13 12 12 - - - - - 54 43 3.63
Long-Term Debt		 1,605 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735 5,920
Other Long-Term Liabilities		 56 85 85 997 1,939 167 235 514 555 423 196
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 8.36
Total Equity & Noncontrolling Interests		 480 552 555 564 845 834 1,281 1,890 2,638 1,936 1,643
Total Preferred & Common Equity		 441 513 536 545 825 815 1,276 1,791 2,540 1,838 1,544
Preferred Stock		 0.13 - - - - 0.00 111 111 111 111 111
Total Common Equity		 441 513 536 545 825 815 1,165 1,680 2,429 1,727 1,433
Common Stock		 447 513 539 540 823 850 1,162 1,684 2,322 2,250 2,264
Retained Earnings		 -5.90 -0.20 -3.39 5.27 8.75 -24 8.60 4.99 124 -505 -808
Accumulated Other Comprehensive Income / (Loss)		 - - - -0.92 -6.18 -9.95 -5.73 -9.37 -18 -19 -24
Noncontrolling Interest		 39 39 19 19 19 19 4.49 99 98 98 99

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 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		 11,858 11,537 12,383 12,799 12,044 11,774 11,253 9,976 9,309 8,332 6,314
Cash and Due from Banks		 208 111 228 182 166 226 181 206 163 148 200
Restricted Cash		 58 50 - - 25 - 31 40 57 44 39
Trading Account Securities		 197 150 160 169 162 165 188 209 207 217 203
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		 404 237 239 185 3,985 533 3,876 4,883 633 164 360
Other Assets		 10,992 10,990 11,757 12,263 7,706 10,851 6,976 4,639 8,249 7,759 5,512
Total Liabilities & Shareholders' Equity		 11,858 11,537 12,383 12,799 12,044 11,774 11,253 9,976 9,309 8,332 6,314
Total Liabilities		 9,881 9,649 9,672 10,100 9,535 9,374 8,915 7,927 7,375 6,449 4,866
Short-Term Debt		 - - - - - - - - 1.99 1.63 0.95
Other Short-Term Payables		 - - 26 65 - 53 - - 23 23 3.69
Long-Term Debt		 9,606 9,437 11,859 12,236 4,198 11,087 8,193 7,543 7,138 6,230 4,667
Other Long-Term Liabilities		 275 212 182 184 568 546 722 384 214 197 197
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 8.36 8.36 8.36 8.36 8.36 8.36 8.36 8.36 8.36 8.36 8.36
Total Equity & Noncontrolling Interests		 1,969 1,880 2,703 2,691 2,500 2,392 2,330 2,041 1,926 1,875 1,440
Total Preferred & Common Equity		 1,867 1,780 2,603 2,592 2,403 2,293 2,233 1,942 1,827 1,775 1,340
Preferred Stock		 111 111 111 111 111 111 111 111 111 111 111
Total Common Equity		 1,756 1,669 2,492 2,481 2,291 2,182 2,122 1,830 1,716 1,663 1,228
Common Stock		 1,720 1,688 2,314 2,318 2,307 2,288 2,292 2,302 2,268 2,257 2,266
Retained Earnings		 40 -6.53 187 169 -3.55 -92 -146 -450 -529 -570 -1,013
Accumulated Other Comprehensive Income / (Loss)		 -4.51 -12 -9.28 -5.93 -12 -14 -24 -22 -23 -24 -24
Noncontrolling Interest		 102 100 100 99 97 99 97 100 99 101 101

Annual Metrics And Ratios for Ready Capital

This table displays calculated financial ratios and metrics derived from Ready 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
DEI Shares Outstanding		 - - - - - - - - - - 162,126,276.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 162,126,276.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -1.36
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.51% 19.93% 41.52% 1.61% 21.37% 65.40% -22.52% 31.50% 49.79% -84.52% 3.03%
EBITDA Growth		 314.11% 91.07% -6.77% 25.95% 0.77% 11.52% 22.98% 63.97% 139.46% -209.18% 45.23%
EBIT Growth		 30.39% 37.82% -26.93% 31.88% 2.64% -15.58% 142.70% 32.43% 104.78% -244.11% 41.42%
NOPAT Growth		 14.51% 37.09% -17.55% 34.14% 22.13% -38.62% 154.62% 36.02% 120.15% -202.94% 41.42%
Net Income Growth		 36.81% 19.30% -14.22% 34.14% 22.13% -38.62% 247.25% 27.00% 71.49% -223.53% 48.64%
EPS Growth		 0.00% 16.35% -25.41% 33.33% -6.52% -52.91% 166.67% -23.61% 34.55% -218.47% 45.25%
Operating Cash Flow Growth		 110.36% -55.26% 2,797.33% -60.20% -137.35% 231.48% -149.99% 1,142.79% -85.76% 437.48% 57.24%
Free Cash Flow Firm Growth		 -1,121.38% 86.79% 166.47% 250.07% -306.06% 76.67% -2,631.22% 71.98% 77.12% 575.65% 5.68%
Invested Capital Growth		 196.21% 10.97% -3.27% -15.93% 48.93% 8.61% 181.84% 19.44% 6.56% -18.21% -21.77%
Revenue Q/Q Growth		 18.84% -5.00% 22.17% -24.20% 14.39% 10.01% -33.29% 15.35% 20.98% -26.44% -47.27%
EBITDA Q/Q Growth		 226.70% -18.30% 3.21% -15.39% -1.82% 24.98% -31.22% -8.98% 21.92% -306.86% 16.93%
EBIT Q/Q Growth		 19,644.63% -31.15% -6.50% -27.76% 23.41% 30.86% -17.62% -22.55% 25.73% -193.94% 14.34%
NOPAT Q/Q Growth		 556.51% -23.56% -24.85% -5.01% 18.00% 16.80% -12.43% -20.38% 18.41% -193.94% 14.34%
Net Income Q/Q Growth		 1,178.15% -25.50% -22.56% -5.01% 18.00% 16.80% 19.43% -16.42% -0.80% -310.82% 27.09%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -5.64% 1.78% 42.11% 7.46% -28.26% -5.13% -220.73% 24.21%
Operating Cash Flow Q/Q Growth		 108.45% -80.33% 42.41% -41.42% 12.34% 464.14% -201.74% 90.75% -82.83% 27.23% -8.46%
Free Cash Flow Firm Q/Q Growth		 -5,501.97% -157.39% 106.79% 242.24% 19.13% -122.68% -1.53% 29.97% 87.66% -58.10% -12.63%
Invested Capital Q/Q Growth		 203.59% 420.62% -0.02% -27.32% -24.27% 6.38% 2.99% -4.12% -20.76% -8.09% -6.68%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 28.92% 46.07% 30.35% 37.62% 31.23% 21.06% 33.42% 41.68% 66.63% -469.82% -249.76%
EBIT Margin		 39.20% 45.05% 23.26% 30.19% 25.53% 13.03% 40.81% 41.10% 56.19% -523.02% -297.36%
Profit (Net Income) Margin		 37.09% 36.89% 22.36% 29.52% 29.71% 11.02% 49.40% 47.71% 54.63% -435.82% -217.26%
Tax Burden Percent		 84.10% 81.89% 96.14% 97.79% 116.36% 84.60% 121.05% 116.08% 97.21% 83.33% 73.06%
Interest Burden Percent		 112.50% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 14.67% 14.80% 3.86% 2.21% -16.36% 15.40% 11.24% 8.84% 2.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 2.68% 2.33% 1.86% 2.75% 2.96% 1.45% 1.86% 1.56% 3.06% -3.36% -2.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.04% 2.21% 1.86% 2.75% 2.96% 1.45% 2.68% 2.07% 3.03% -4.17% -2.59%
Return on Net Nonoperating Assets (RNNOA)		 10.61% 8.02% 6.42% 8.23% 7.70% 4.03% 13.21% 11.18% 12.27% -15.39% -9.84%
Return on Equity (ROE)		 13.29% 10.35% 8.27% 10.98% 10.65% 5.49% 15.07% 12.75% 15.33% -18.75% -12.30%
Cash Return on Invested Capital (CROIC)		 -96.36% -8.07% 5.19% 20.06% -36.36% -6.80% -93.38% -16.16% -3.29% 16.68% 21.97%
Operating Return on Assets (OROA)		 3.03% 2.64% 1.86% 2.26% 1.61% 1.05% 1.77% 1.65% 2.98% -4.57% -3.38%
Return on Assets (ROA)		 2.87% 2.16% 1.79% 2.21% 1.87% 0.89% 2.15% 1.92% 2.90% -3.81% -2.47%
Return on Common Equity (ROCE)		 12.12% 9.56% 7.84% 10.60% 10.36% 5.36% 14.05% 11.38% 13.86% -16.97% -10.80%
Return on Equity Simple (ROE_SIMPLE)		 10.14% 10.41% 8.55% 11.28% 9.09% 5.65% 12.54% 11.34% 13.72% -23.42% -14.32%
Net Operating Profit after Tax (NOPAT)		 41 56 46 61 75 46 117 160 351 -362 -212
NOPAT Margin		 33.58% 38.38% 22.36% 29.52% 29.71% 11.02% 36.22% 37.47% 55.07% -366.12% -208.15%
Net Nonoperating Expense Percent (NNEP)		 -0.36% 0.12% 0.00% 0.00% 0.00% 0.00% -0.81% -0.51% 0.03% 0.81% 0.14%
SG&A Expenses to Revenue		 18.45% 19.68% 28.74% 29.21% 22.44% 23.67% 21.35% 19.85% 14.48% 95.09% 102.52%
Operating Expenses to Revenue		 44.53% 49.55% 75.59% 69.00% 73.01% 78.66% 56.70% 50.81% 42.67% 326.57% 311.81%
Earnings before Interest and Taxes (EBIT)		 47 65 48 63 65 54 132 175 358 -517 -303
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 35 67 62 78 79 88 108 177 425 -464 -254
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.10 0.09 0.41 0.40 0.46 0.53 0.70 0.55 0.63 0.67 0.25
Price to Tangible Book Value (P/TBV)		 0.10 0.09 0.41 0.40 0.46 0.53 0.70 0.55 0.63 0.67 0.25
Price to Revenue (P/Rev)		 0.36 0.33 1.06 1.06 1.52 1.03 2.51 2.18 2.41 11.64 3.45
Price to Earnings (P/E)		 1.08 0.98 5.02 3.72 5.25 9.57 5.41 4.99 4.63 0.00 0.00
Dividend Yield		 29.11% 28.36% 21.79% 22.85% 18.83% 16.50% 15.04% 19.73% 16.38% 16.13% 17.77%
Earnings Yield		 92.17% 101.81% 19.92% 26.89% 19.04% 10.45% 18.49% 20.03% 21.60% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.80 0.78 0.84 0.81 0.82 0.83 0.93 0.91 0.91 0.92 0.82
Enterprise Value to Revenue (EV/Rev)		 14.97 13.57 9.98 7.98 9.80 6.52 26.76 23.86 16.89 90.41 61.36
Enterprise Value to EBITDA (EV/EBITDA)		 51.76 29.45 32.87 21.21 31.38 30.98 80.07 57.26 25.35 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 38.18 30.11 42.90 26.43 38.39 50.07 65.57 58.06 30.05 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 44.58 35.34 44.62 27.03 32.99 59.18 73.87 63.69 30.67 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 66.43 161.42 5.80 11.84 0.00 39.58 0.00 28.29 210.68 32.49 14.45
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 15.97 3.71 0.00 0.00 0.00 0.00 0.00 4.98 3.29
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.71 3.54 3.37 2.62 2.60 2.96 6.21 4.85 3.47 3.98 3.59
Long-Term Debt to Equity		 3.34 3.54 3.37 2.62 2.60 2.96 6.21 4.85 3.47 3.98 3.58
Financial Leverage		 3.49 3.62 3.46 2.99 2.60 2.77 4.93 5.40 4.05 3.69 3.80
Leverage Ratio		 4.64 4.78 4.63 4.97 5.69 6.16 7.02 6.64 5.29 4.92 4.98
Compound Leverage Factor		 5.21 4.78 4.63 4.97 5.69 6.16 7.02 6.64 5.29 4.92 4.98
Debt to Total Capital		 78.76% 77.99% 77.11% 72.35% 72.19% 74.72% 86.14% 82.91% 77.64% 79.92% 78.19%
Short-Term Debt to Total Capital		 7.76% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02%
Long-Term Debt to Total Capital		 71.00% 77.99% 77.11% 72.35% 72.19% 74.72% 86.14% 82.91% 77.63% 79.92% 78.17%
Preferred Equity to Total Capital		 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 1.20% 1.00% 0.94% 1.15% 1.47%
Noncontrolling Interests to Total Capital		 1.72% 1.56% 0.80% 0.94% 0.64% 0.57% 0.14% 0.97% 0.90% 1.10% 1.42%
Common Equity to Total Capital		 19.52% 20.45% 22.09% 26.71% 27.17% 24.71% 12.53% 15.12% 20.52% 17.84% 18.92%
Debt to EBITDA		 51.00 29.33 30.09 18.84 27.79 28.01 74.01 51.89 21.62 -16.67 -23.30
Net Debt to EBITDA		 49.39 28.14 29.07 18.15 26.28 25.89 71.41 50.79 21.23 -16.30 -22.32
Long-Term Debt to EBITDA		 45.98 29.33 30.09 18.84 27.79 28.01 74.01 51.89 21.62 -16.67 -23.29
Debt to NOPAT		 43.92 35.21 40.84 24.01 29.22 53.51 68.28 57.71 26.16 -21.39 -27.96
Net Debt to NOPAT		 42.53 33.77 39.45 23.13 27.63 49.46 65.89 56.49 25.68 -20.91 -26.79
Long-Term Debt to NOPAT		 39.60 35.21 40.84 24.01 29.22 53.51 68.28 57.71 26.16 -21.39 -27.95
Noncontrolling Interest Sharing Ratio		 8.78% 7.56% 5.27% 3.45% 2.74% 2.27% 6.74% 10.76% 9.62% 9.49% 12.14%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,457 -192 128 448 -923 -215 -5,882 -1,648 -377 1,794 1,895
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		 -30.47 -3.33 1.71 4.10 -6.08 -1.23 -28.78 -4.20 -0.53 2.58 3.69
Operating Cash Flow to Interest Expense		 0.57 0.21 4.72 1.28 -0.35 0.39 -0.17 0.92 0.07 0.39 0.84
Operating Cash Flow Less CapEx to Interest Expense		 0.73 0.33 4.79 1.30 -0.22 0.49 0.04 0.93 0.18 0.49 0.98
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.06 0.08 0.07 0.06 0.08 0.04 0.04 0.05 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 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,260 2,508 2,426 2,040 3,038 3,299 9,299 11,107 11,835 9,680 7,573
Invested Capital Turnover		 0.08 0.06 0.08 0.09 0.10 0.13 0.05 0.04 0.06 0.01 0.01
Increase / (Decrease) in Invested Capital		 1,497 248 -82 -386 998 261 5,999 1,808 728 -2,155 -2,107
Enterprise Value (EV)		 1,807 1,964 2,044 1,661 2,476 2,726 8,665 10,161 10,772 8,928 6,244
Market Capitalization		 44 48 217 220 383 429 812 930 1,534 1,149 351
Book Value per Share		 $55.35 $58.06 $16.75 $16.99 $18.30 $14.97 $15.83 $15.20 $14.11 $10.25 $8.84
Tangible Book Value per Share		 $55.23 $58.06 $16.75 $16.99 $18.30 $14.97 $15.83 $15.20 $14.11 $10.25 $8.84
Total Capital		 2,260 2,508 2,426 2,040 3,038 3,299 9,299 11,107 11,835 9,680 7,573
Total Debt		 1,780 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735 5,921
Total Long-Term Debt		 1,605 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735 5,920
Net Debt		 1,724 1,877 1,807 1,421 2,073 2,278 7,729 9,012 9,020 7,561 5,673
Capital Expenditures (CapEx)		 -7.57 -6.63 -4.80 -1.63 -19 -17 -42 -7.52 -78 -67 -73
Net Nonoperating Expense (NNE)		 -4.24 2.16 0.00 0.00 0.00 0.00 -43 -44 2.83 69 9.27
Net Nonoperating Obligations (NNO)		 1,780 1,956 1,871 1,476 2,193 2,465 8,010 9,208 9,188 7,735 5,921
Total Depreciation and Amortization (D&A)		 -12 1.48 15 15 14 34 -24 2.43 67 53 48
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.16) $0.00 $1.38 $1.84 $1.72 $0.81 $2.17 $1.73 $2.25 ($2.63) ($1.44)
Adjusted Weighted Average Basic Shares Outstanding		 7.97M 30.55M 31.35M 32.09M 42.01M 53.74M 68.51M 106.88M 146.84M 169.11M 164.54M
Adjusted Diluted Earnings per Share		 ($0.16) $0.00 $1.38 $1.84 $1.72 $0.81 $2.17 $1.66 $2.22 ($2.63) ($1.44)
Adjusted Weighted Average Diluted Shares Outstanding		 8.90M 30.55M 31.35M 32.10M 42.05M 53.82M 68.66M 117.19M 148.57M 170.47M 167.26M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.72 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.97M 26.65M 32.00M 32.12M 52.03M 54.43M 83.33M 110.73M 172.55M 163.15M 162.88M
Normalized Net Operating Profit after Tax (NOPAT)		 41 56 46 61 51 46 130 176 377 -315 -191
Normalized NOPAT Margin		 33.58% 38.38% 22.36% 29.52% 20.02% 11.04% 40.14% 41.25% 59.13% -318.89% -187.82%
Pre Tax Income Margin		 44.10% 45.05% 23.26% 30.19% 25.53% 13.03% 40.81% 41.10% 56.19% -523.02% -297.36%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.99 1.13 0.64 0.58 0.42 0.31 0.65 0.45 0.50 -0.74 -0.59
NOPAT to Interest Expense		 0.85 0.96 0.61 0.56 0.49 0.26 0.57 0.41 0.49 -0.52 -0.41
EBIT Less CapEx to Interest Expense		 1.15 1.24 0.70 0.59 0.55 0.41 0.85 0.47 0.61 -0.65 -0.45
NOPAT Less CapEx to Interest Expense		 1.01 1.08 0.68 0.58 0.62 0.36 0.78 0.43 0.60 -0.42 -0.27
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 79.54% 87.77% 105.34% 83.50% 84.37% 123.48% 69.96% 92.45% 61.73% -47.88% -51.26%
Augmented Payout Ratio		 79.54% 87.77% 105.49% 83.50% 84.37% 143.52% 69.96% 110.65% 66.93% -66.99% -81.84%

Quarterly Metrics And Ratios for Ready Capital

This table displays calculated financial ratios and metrics derived from Ready 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		 - - - - - - 326,302,172.00 170,507,227.00 164,327,272.00 162,126,276.00 162,878,779.00
DEI Adjusted Shares Outstanding		 - - - - - - 326,302,172.00 170,507,227.00 164,327,272.00 162,126,276.00 162,878,779.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.25 -0.31 -0.10 -1.43 -1.23
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -33.13% 5,689.76% -160.95% -109.33% 7.56% -31.54% 174.40% 68.92% -20.32% -118.36% -256.87%
EBITDA Growth		 12.70% 280.50% -253.62% -134.03% -101.31% -711.90% 217.22% 15.98% -2,101.28% 16.86% -329.61%
EBIT Growth		 -34.77% 154.76% -368.44% -132.43% -134.27% -1,313.05% 172.98% -10.85% -69.31% 16.09% -380.77%
NOPAT Growth		 -34.31% 174.39% -292.31% -122.90% -125.54% -992.86% 211.28% -10.85% -69.31% 16.09% -284.12%
Net Income Growth		 -28.79% -20.47% -300.57% -113.50% -115.43% -2,992.67% 210.51% -56.95% -129.94% 26.10% -344.11%
EPS Growth		 -50.00% -300.00% -251.72% -113.07% -128.00% -2,262.50% 204.55% -47.83% -85.71% 24.34% -371.74%
Operating Cash Flow Growth		 -30.86% -113.66% 2,685.45% -97.23% 407.90% 198.34% 362.55% -9,586.00% 96.55% -136.91% 444.11%
Free Cash Flow Firm Growth		 -32.98% 61.78% 2,623.58% 137.37% 232.78% 374.98% -161.69% 323.77% -45.42% -0.64% 218.57%
Invested Capital Growth		 28.94% 6.56% -40.78% -7.43% -29.49% -18.21% 43.03% -32.72% -22.95% -21.77% -36.24%
Revenue Q/Q Growth		 -70.41% 12.91% -157.74% 41.86% 441.01% -28.13% -47.78% -124.29% 974.18% -116.56% -346.12%
EBITDA Q/Q Growth		 -71.89% -31.42% -271.01% -14.98% 98.92% -31,863.66% 129.41% -182.42% 71.59% -1,107.26% 18.77%
EBIT Q/Q Growth		 -81.22% -43.98% -601.94% 24.38% 80.16% -1,882.96% 124.52% -214.88% 69.69% -882.77% 17.95%
NOPAT Q/Q Growth		 -82.20% -43.28% -452.22% 24.38% 80.16% -1,882.96% 137.39% -175.33% 69.69% -882.77% 17.95%
Net Income Q/Q Growth		 -81.38% -76.94% -781.62% 53.89% 78.72% -4,224.10% 126.04% -165.49% 68.82% -1,289.81% 13.98%
EPS Q/Q Growth		 -85.80% -132.00% -450.00% 47.73% 69.57% -2,600.00% 124.34% -173.91% 61.76% -1,000.00% 12.59%
Operating Cash Flow Q/Q Growth		 14.15% -168.10% 179.09% -95.49% 20,822.23% -86.81% 271.98% -192.44% 533.52% -102.48% 5,584.01%
Free Cash Flow Firm Q/Q Growth		 -20.42% 78.73% 4.21% -77.41% 327.84% -55.95% -244.91% 255.20% -44.89% -19.83% 72.93%
Invested Capital Q/Q Growth		 2.51% -20.76% -0.88% 101.11% -21.92% -8.09% -0.90% -5.41% -10.57% -6.68% -19.23%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 71.90% 43.67% 0.00% 0.00% -0.88% -390.33% 219.87% 0.00% -24.25% 0.00% 0.00%
EBIT Margin		 46.48% 23.06% 0.00% 0.00% -14.81% -408.57% 191.87% 0.00% -31.47% 0.00% 0.00%
Profit (Net Income) Margin		 47.33% 9.67% 0.00% 0.00% -6.79% -408.46% 203.71% 0.00% -19.59% 0.00% 0.00%
Tax Burden Percent		 101.83% 41.92% 70.11% 42.75% 45.85% 99.97% 106.17% 60.52% 62.26% 88.05% 92.31%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 6.06% 4.90% 0.00% 0.00% 0.00% 0.00% -6.74% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.74% 1.22% 0.00% 0.00% -0.11% -2.63% 4.85% 0.00% -0.46% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.77% 1.07% 0.00% 0.00% -0.07% -3.74% 4.84% 0.00% -0.43% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 8.26% 4.33% 0.00% 0.00% -0.29% -13.79% 12.48% 0.00% -1.46% 0.00% 0.00%
Return on Equity (ROE)		 10.00% 5.55% 0.00% 0.00% -0.40% -16.42% 17.33% 0.00% -1.91% 0.00% -28.76%
Cash Return on Invested Capital (CROIC)		 -23.04% -3.29% 53.86% 7.15% 33.62% 16.68% -38.28% 37.00% 23.27% 21.97% 38.94%
Operating Return on Assets (OROA)		 1.99% 1.22% 0.00% 0.00% -0.17% -3.57% 3.36% 0.00% -0.62% 0.00% 0.00%
Return on Assets (ROA)		 2.02% 0.51% 0.00% 0.00% -0.08% -3.57% 3.57% 0.00% -0.39% 0.00% 0.00%
Return on Common Equity (ROCE)		 9.06% 5.01% 0.00% 0.00% -0.37% -14.86% 15.67% 0.00% -1.72% 0.00% -25.15%
Return on Equity Simple (ROE_SIMPLE)		 13.55% 0.00% 9.87% -2.19% -4.69% 0.00% -14.13% -16.08% -17.08% 0.00% -37.56%
Net Operating Profit after Tax (NOPAT)		 44 25 -74 -56 -11 -220 82 -62 -19 -185 -152
NOPAT Margin		 43.66% 21.93% 0.00% 0.00% -10.37% -286.00% 204.81% 0.00% -22.03% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -0.03% 0.15% 0.00% -0.19% -0.04% 1.12% 0.01% -0.09% -0.03% 0.70% 0.79%
SG&A Expenses to Revenue		 23.05% 19.92% 0.00% 0.00% 23.81% 34.61% 60.96% 0.00% 28.97% 0.00% 0.00%
Operating Expenses to Revenue		 65.71% 71.00% 0.00% 0.00% 65.22% 138.71% 180.44% 0.00% 87.01% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 46 26 -106 -80 -16 -315 77 -89 -27 -264 -217
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 72 49 -75 -87 -0.94 -301 88 -73 -21 -250 -203
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.62 0.63 0.66 0.63 0.60 0.67 0.42 0.43 0.38 0.25 0.21
Price to Tangible Book Value (P/TBV)		 0.62 0.63 0.66 0.63 0.60 0.67 0.42 0.43 0.38 0.25 0.21
Price to Revenue (P/Rev)		 2.89 2.41 3.06 10.90 9.56 11.64 4.01 3.47 3.27 3.45 0.00
Price to Earnings (P/E)		 4.58 4.63 6.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 17.58% 16.38% 15.45% 15.40% 15.07% 16.13% 19.50% 17.16% 16.15% 17.77% 16.67%
Earnings Yield		 21.83% 21.60% 14.65% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.92 0.91 0.86 0.92 0.90 0.92 0.86 0.87 0.85 0.82 0.80
Enterprise Value to Revenue (EV/Rev)		 26.17 16.89 11.60 98.34 70.62 90.41 42.94 36.71 35.71 61.36 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 39.59 25.35 19.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 48.41 30.05 26.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 46.52 30.67 24.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 46.34 210.68 76.04 324.53 43.89 32.49 23.04 30.50 14.60 14.45 5.38
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 1.18 12.42 2.21 4.98 0.00 1.89 3.18 3.29 1.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.53 3.47 1.67 4.62 3.50 3.98 3.68 3.69 3.31 3.59 3.22
Long-Term Debt to Equity		 4.53 3.47 1.67 4.62 3.50 3.98 3.68 3.69 3.31 3.58 3.22
Financial Leverage		 4.67 4.05 3.10 4.49 4.05 3.69 2.58 4.21 3.42 3.80 3.49
Leverage Ratio		 5.27 5.29 5.36 4.73 4.77 4.92 4.83 4.86 4.64 4.98 4.66
Compound Leverage Factor		 5.27 5.29 5.36 4.73 4.77 4.92 4.83 4.86 4.64 4.98 4.66
Debt to Total Capital		 81.92% 77.64% 62.60% 82.20% 77.80% 79.92% 78.63% 78.69% 76.79% 78.19% 76.32%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02%
Long-Term Debt to Total Capital		 81.92% 77.63% 62.60% 82.20% 77.80% 79.92% 78.63% 78.66% 76.77% 78.17% 76.30%
Preferred Equity to Total Capital		 0.75% 0.94% 1.66% 0.83% 1.06% 1.15% 1.16% 1.23% 1.37% 1.47% 1.82%
Noncontrolling Interests to Total Capital		 0.72% 0.90% 1.57% 0.80% 1.00% 1.10% 1.13% 1.18% 1.34% 1.42% 1.78%
Common Equity to Total Capital		 16.61% 20.52% 34.17% 16.17% 20.15% 17.84% 19.08% 18.91% 20.50% 18.92% 20.08%
Debt to EBITDA		 35.10 21.62 13.98 -267.66 -71.85 -16.67 -25.14 -24.95 -20.37 -23.30 -8.55
Net Debt to EBITDA		 34.58 21.23 13.34 -262.19 -69.98 -16.30 -24.32 -24.18 -19.74 -22.32 -8.12
Long-Term Debt to EBITDA		 35.10 21.62 13.98 -267.66 -71.85 -16.67 -25.14 -24.94 -20.36 -23.29 -8.55
Debt to NOPAT		 41.25 26.16 17.70 -139.53 -66.61 -21.39 -32.31 -29.81 -25.20 -27.96 -11.18
Net Debt to NOPAT		 40.64 25.68 16.90 -136.68 -64.88 -20.91 -31.26 -28.89 -24.43 -26.79 -10.61
Long-Term Debt to NOPAT		 41.25 26.16 17.70 -139.53 -66.61 -21.39 -32.31 -29.80 -25.20 -27.95 -11.18
Noncontrolling Interest Sharing Ratio		 9.42% 9.62% 0.00% 0.00% 8.64% 9.49% 9.57% 0.00% 10.34% 0.00% 12.58%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,309 -704 4,545 1,027 4,393 1,935 -2,804 4,351 2,398 1,922 3,324
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		 -17.43 -1.91 24.73 0.00 25.02 5.74 0.00 0.00 0.00 3.74 34.33
Operating Cash Flow to Interest Expense		 0.23 -0.08 0.13 0.00 1.26 0.09 0.00 0.00 0.00 -0.02 6.09
Operating Cash Flow Less CapEx to Interest Expense		 0.30 0.00 0.13 0.00 1.39 0.12 0.00 0.00 0.00 0.01 6.47
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.05 0.04 0.01 0.01 0.01 0.02 0.02 0.02 0.01 0.00
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		 14,936 11,835 6,707 13,488 10,531 9,680 9,593 9,074 8,115 7,573 6,117
Invested Capital Turnover		 0.04 0.06 0.05 0.01 0.01 0.01 0.02 0.02 0.02 0.01 0.00
Increase / (Decrease) in Invested Capital		 3,352 728 -4,619 -1,083 -4,404 -2,155 2,886 -4,413 -2,417 -2,107 -3,476
Enterprise Value (EV)		 13,799 10,772 5,740 12,461 9,480 8,928 8,291 7,884 6,891 6,244 4,913
Market Capitalization		 1,526 1,534 1,515 1,381 1,283 1,149 774 745 631 351 264
Book Value per Share		 $14.43 $14.11 $13.32 $12.92 $12.61 $10.25 $11.22 $10.06 $10.19 $8.84 $7.54
Tangible Book Value per Share		 $14.43 $14.11 $13.32 $12.92 $12.61 $10.25 $11.22 $10.06 $10.19 $8.84 $7.54
Total Capital		 14,936 11,835 6,707 13,488 10,531 9,680 9,593 9,074 8,115 7,573 6,117
Total Debt		 12,236 9,188 4,198 11,087 8,193 7,735 7,543 7,140 6,231 5,921 4,668
Total Long-Term Debt		 12,236 9,188 4,198 11,087 8,193 7,735 7,543 7,138 6,230 5,920 4,667
Net Debt		 12,054 9,020 4,008 10,861 7,980 7,561 7,298 6,921 6,039 5,673 4,429
Capital Expenditures (CapEx)		 -13 -30 -1.31 -33 -22 -10 -7.10 -1.22 -49 -15 -37
Net Nonoperating Expense (NNE)		 -3.66 14 0.11 -22 -3.83 94 0.45 -8.41 -2.08 48 48
Net Nonoperating Obligations (NNO)		 12,236 9,188 4,198 11,087 8,193 7,735 7,543 7,140 6,231 5,921 4,668
Total Depreciation and Amortization (D&A)		 25 23 30 -6.77 15 14 11 16 6.17 14 14
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.25 ($0.17) ($0.44) ($0.23) ($0.07) ($1.89) $0.47 ($0.34) ($0.13) ($1.44) ($1.25)
Adjusted Weighted Average Basic Shares Outstanding		 171.97M 146.84M 172.03M 168.65M 168.34M 169.11M 165.17M 167.75M 163.57M 164.54M 163.67M
Adjusted Diluted Earnings per Share		 $0.25 ($0.08) ($0.44) ($0.23) ($0.07) ($1.89) $0.46 ($0.34) ($0.13) ($1.43) ($1.25)
Adjusted Weighted Average Diluted Shares Outstanding		 174.44M 148.57M 173.10M 169.86M 169.51M 170.47M 167.72M 170.67M 165.87M 167.26M 167.65M
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		 172.12M 172.55M 168.87M 168.21M 168.53M 163.15M 170.51M 164.33M 162.13M 162.88M 165.22M
Normalized Net Operating Profit after Tax (NOPAT)		 46 25 -74 -55 -9.02 -217 58 -59 -16 -174 -152
Normalized NOPAT Margin		 45.85% 22.42% 0.00% 0.00% -8.41% -281.57% 143.08% 0.00% -18.94% 0.00% 0.00%
Pre Tax Income Margin		 46.48% 23.06% 0.00% 0.00% -14.81% -408.57% 191.87% 0.00% -31.47% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.24 0.07 -0.58 0.00 -0.09 -0.93 0.00 0.00 0.00 -0.51 -2.24
NOPAT to Interest Expense		 0.23 0.07 -0.40 0.00 -0.06 -0.65 0.00 0.00 0.00 -0.36 -1.57
EBIT Less CapEx to Interest Expense		 0.31 0.15 -0.57 0.00 0.04 -0.90 0.00 0.00 0.00 -0.49 -1.86
NOPAT Less CapEx to Interest Expense		 0.30 0.15 -0.40 0.00 0.06 -0.62 0.00 0.00 0.00 -0.33 -1.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 57.36% 61.73% 93.71% -394.22% -215.94% -47.88% -71.34% -56.78% -44.63% -51.26% -14.49%
Augmented Payout Ratio		 71.95% 66.93% 109.37% -472.13% -253.35% -66.99% -100.73% -90.21% -80.51% -81.84% -24.47%

Financials Breakdown Chart

Key Financial Trends

Ready Capital (NYSE: RC) showed a sharp deterioration in profitability and balance sheet strength in Q1 2026 compared with both the prior quarter and the same period a year ago. The company posted a large net loss, but it also generated strong operating and investing cash inflows that were more than offset by heavy debt repayment and financing outflows.

  • Operating cash flow remained strong in Q1 2026, with net cash from operating activities of $590.2 million, up from $-10.8 million in Q4 2025.
  • Investing cash flow was also strong, with net cash from investing activities of $668.9 million, supported by $730.6 million of sales and maturities of investments.
  • Cash and equivalents increased from the prior quarter to $200.4 million at March 31, 2026, versus $147.5 million at September 30, 2025.
  • Short-term debt fell sharply to $0.9 million from $1.6 million in Q3 2025, indicating reduced near-term borrowing pressure.
  • Revenue composition remains highly volatile, with Q1 2026 total revenue of negative $63.1 million driven by a $71.5 million loss on investments.
  • Common equity improved sequentially to $1.23 billion from $1.16 billion in Q4 2025, even though retained earnings remained deeply negative.
  • Net interest income stayed negative at negative $15.1 million, reflecting a persistent funding-cost challenge.
  • RC reported a net loss of $200.1 million in Q1 2026, worse than the $232.6 million loss in Q4 2025 and far below the $81.0 million profit in Q1 2025.
  • Credit losses remain elevated, with a $70.9 million provision for credit losses in Q1 2026.
  • Debt remains very large at $4.67 billion, and financing activities were a major cash drag with $1.27 billion of net cash outflow.

Over the last four years, the biggest trend for Ready Capital has been extreme earnings volatility. The company was profitable in parts of 2023 and early 2025, but losses widened badly in late 2025 and Q1 2026. That pattern suggests earnings remain highly sensitive to investment gains and losses, credit provisions, and changes in interest rates.

The balance sheet also shows a major shift. Total assets fell to $6.31 billion in Q1 2026 from $8.33 billion in Q3 2025 and $11.25 billion in Q3 2024. At the same time, long-term debt declined from $6.23 billion in Q3 2025 to $4.67 billion in Q1 2026, which may reduce leverage but also reflects a smaller asset base.

For retail investors, the takeaway is mixed: cash generation and debt reduction are positives, but the business is still struggling to produce stable earnings. Until RC shows more consistent core profitability and lower credit volatility, the stock may continue to trade more like a turnaround story than a steady income name.

07/20/26 11:48 AM ETAI Generated. May Contain Errors.

Ready Capital Financials - Frequently Asked Questions

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

Ready Capital's net income appears to be on a downward trend, with a most recent value of -$221.06 million in 2025, falling from $44.77 million in 2015. The previous period was -$430.40 million in 2024. View Ready Capital's forecast to see where analysts expect Ready Capital to go next.

Over the last 10 years, Ready Capital's total revenue changed from $120.71 million in 2015 to $101.75 million in 2025, a change of -15.7%.

Ready Capital's total liabilities were at $6.12 billion at the end of 2025, a 25.4% decrease from 2024, and a 230.8% increase since 2015.

In the past 10 years, Ready Capital's cash and equivalents has ranged from $41.57 million in 2015 to $229.53 million in 2021, and is currently $207.84 million as of their latest financial filing in 2025.

Over the last 10 years, Ready Capital's book value per share changed from 55.35 in 2015 to 8.84 in 2025, a change of -84.0%.


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Financial statements for NYSE:RC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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