Claros Mortgage Trust, Inc.
CMTG NYSE Real Estate Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$188M
24.4%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$489M
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$3.83 EPS (TTM)
What Claros Mortgage Trust, Inc. does
No business description yet.
- Legal name
- Claros Mortgage Trust, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 18, 2026
- Accession · CIK
- 0001193125-26-057455
0001666291
Revenue and margins
Claros Mortgage Trust, Inc. had $188M of revenue in fiscal 2025, down 24.4% on the year before.
FY19
Revenue $250M
FY20
Revenue $274M
FY21
Revenue $263M
FY22
Revenue $287M
FY23
Revenue $307M
FY24
Revenue $248M
FY25
Revenue $188M
Q3 '23
Revenue $80.6M
Q4 '23
Revenue $76.0M
Q1 '24
Revenue $58.8M
Q2 '24
Revenue $64.5M
Q3 '24
Revenue $64.9M
Q4 '24
Revenue $60.2M
Q1 '25
Revenue $43.4M
Q2 '25
Revenue $51.6M
Q3 '25
Revenue $46.1M
Q4 '25
Revenue $46.7M
Q1 '26
Revenue $29.5M
Q2 '26
Revenue $29.7M
FY19
Gross —
Operating —
Net 65.4%
FCF —
FY20
Gross —
Operating —
Net 71.1%
FCF —
FY21
Gross —
Operating —
Net 61.4%
FCF —
FY22
Gross —
Operating —
Net 39.1%
FCF —
FY23
Gross —
Operating —
Net 2.0%
FCF —
FY24
Gross —
Operating —
Net −89.1%
FCF —
FY25
Gross —
Operating —
Net −260.4%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating —
Net −85.6%
FCF —
Q4 '23
Gross —
Operating —
Net 44.8%
FCF —
Q1 '24
Gross —
Operating —
Net −89.7%
FCF —
Q2 '24
Gross —
Operating —
Net −17.9%
FCF —
Q3 '24
Gross —
Operating —
Net −86.7%
FCF —
Q4 '24
Gross —
Operating —
Net −167.2%
FCF —
Q1 '25
Gross —
Operating —
Net −181.3%
FCF —
Q2 '25
Gross —
Operating —
Net −351.9%
FCF —
Q3 '25
Gross —
Operating —
Net −20.7%
FCF —
Q4 '25
Gross —
Operating —
Net −468.9%
FCF —
Q1 '26
Gross —
Operating —
Net −183.9%
FCF —
Q2 '26
Gross —
Operating —
Net −859.7%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income $163M
FY20
Net income $195M
FY21
Net income $161M
FY22
Net income $112M
FY23
Net income $6.0M
FY24
Net income −$221M
FY25
Net income −$489M
Q3 '23
Net income −$68.9M
Q4 '23
Net income $34.0M
Q1 '24
Net income −$52.8M
Q2 '24
Net income −$11.6M
Q3 '24
Net income −$56.2M
Q4 '24
Net income −$101M
Q1 '25
Net income −$78.6M
Q2 '25
Net income −$182M
Q3 '25
Net income −$9.5M
Q4 '25
Net income −$219M
Q1 '26
Net income −$54.3M
Q2 '26
Net income −$255M
FY19
Diluted EPS $1.51
FY20
Diluted EPS $1.52
FY21
Diluted EPS $1.27
FY22
Diluted EPS $0.79
FY23
Diluted EPS $0.02
FY24
Diluted EPS −$1.60
FY25
Diluted EPS −$3.49
Q3 '23
Diluted EPS −$0.50
Q4 '23
Diluted EPS $0.24
Q1 '24
Diluted EPS −$0.39
Q2 '24
Diluted EPS −$0.09
Q3 '24
Diluted EPS −$0.40
Q4 '24
Diluted EPS −$0.72
Q1 '25
Diluted EPS −$0.56
Q2 '25
Diluted EPS −$1.30
Q3 '25
Diluted EPS −$0.07
Q4 '25
Diluted EPS −$1.56
Q1 '26
Diluted EPS −$0.39
Q2 '26
Diluted EPS −$1.81
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 6.7%
Return on assets 2.5%
FY20
Return on capital —
Return on equity 8.0%
Return on assets 2.9%
FY21
Return on capital —
Return on equity 6.4%
Return on assets 2.2%
FY22
Return on capital —
Return on equity 4.5%
Return on assets 1.4%
FY23
Return on capital —
Return on equity 0.3%
Return on assets 0.1%
FY24
Return on capital —
Return on equity −10.3%
Return on assets −2.9%
FY25
Return on capital —
Return on equity −27.6%
Return on assets −8.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY19
Free cash flow —
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY19
Cash from operations $130M
Capital spending —
FY20
Cash from operations $140M
Capital spending —
FY21
Cash from operations $214M
Capital spending —
FY22
Cash from operations $111M
Capital spending —
FY23
Cash from operations $111M
Capital spending —
FY24
Cash from operations $84.5M
Capital spending —
FY25
Cash from operations −$30.5M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations $41.9M
Capital spending —
Q4 '23
Cash from operations $27.3M
Capital spending —
Q1 '24
Cash from operations $21.5M
Capital spending —
Q2 '24
Cash from operations $5.5M
Capital spending —
Q3 '24
Cash from operations $39.2M
Capital spending —
Q4 '24
Cash from operations $18.3M
Capital spending —
Q1 '25
Cash from operations −$35.8M
Capital spending —
Q2 '25
Cash from operations −$5.8M
Capital spending —
Q3 '25
Cash from operations $8.8M
Capital spending —
Q4 '25
Cash from operations $2.4M
Capital spending —
Q1 '26
Cash from operations −$6.5M
Capital spending —
Q2 '26
Cash from operations −$12.1M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Claros Mortgage Trust, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 0.7%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends $205M
Buybacks $3.6M
FY22
Dividends $208M
Buybacks $21.4M
FY23
Dividends $192M
Buybacks —
FY24
Dividends $121M
Buybacks —
FY25
Dividends $0.0M
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends $52.4M
Buybacks —
Q4 '23
Dividends $35.3M
Buybacks —
Q1 '24
Dividends $35.3M
Buybacks —
Q2 '24
Dividends $35.6M
Buybacks —
Q3 '24
Dividends $35.5M
Buybacks —
Q4 '24
Dividends $14.2M
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.11B
FY20
Diluted shares 0.13B
FY21
Diluted shares 0.13B
FY22
Diluted shares 0.14B
FY23
Diluted shares 0.14B
FY24
Diluted shares 0.14B
FY25
Diluted shares 0.14B
Balance sheet
Cash, debt and the ratios that show how comfortably Claros Mortgage Trust, Inc. can carry it.
FY19
Cash $335M
Debt —
FY20
Cash $428M
Debt —
FY21
Cash $310M
Debt $4.8B
FY22
Cash $306M
Debt $5.7B
FY23
Cash $187M
Debt $5.7B
FY24
Cash $99.1M
Debt $4.9B
FY25
Cash $173M
Debt $3.2B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $310M | $306M | $187M | $99.1M | $173M |
| Debt incl. finance leases | $4.8B | $5.7B | $5.7B | $4.9B | $3.2B |
| Debt / equity | 1.9x | 2.3x | 2.5x | 2.4x | 2.1x |
| Total assets | $7.5B | $8.2B | $8.1B | $7.0B | $4.7B |
| Total liabilities | $4.9B | $5.8B | $5.8B | $5.0B | $3.2B |
| Shareholders' equity | $2.6B | $2.5B | $2.3B | $2.0B | $1.5B |
| Net debt (− = net cash) | $4.4B | $5.4B | $5.5B | $4.8B | $3.0B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Return on assets rose | — | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | ✕ | ✕ | ✓ | ✓ |
| Current ratio rose | — | — | — | — | — | — | — |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✓ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ |
| F-score | — / 3 | — / 6 | — / 6 | 2 / 7 | 5 / 7 | 3 / 7 | 3 / 7 |
| Accruals ratio | 0.5% | 0.8% | −0.7% | 0.0% | −1.3% | −4.1% | −7.8% |
| Altman Z'' | — | — | — | — | — | — | — |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $250M | $274M | $263M | $287M | $307M | $248M | $188M |
| Net interest income | $250M | $274M | $235M | $224M | $227M | $161M | $84.5M |
| Provision for credit losses | — | — | — | $84.4M | — | — | — |
| Interest expense | $140M | $172M | $181M | $247M | $471M | $440M | $305M |
| Net income | $163M | $195M | $161M | $112M | $6.0M | −$221M | −$489M |
| Net income to common | $169M | $202M | $171M | $112M | $6.0M | −$221M | −$489M |
| Diluted EPS | $1.51 | $1.52 | $1.27 | $0.79 | $0.02 | −$1.60 | −$3.49 |
| Diluted shares | 0.11B | 0.13B | 0.13B | 0.14B | 0.14B | 0.14B | 0.14B |
| Cash flow | |||||||
| Cash from operations | $130M | $140M | $214M | $111M | $111M | $84.5M | −$30.5M |
| Depreciation and amortization | — | — | $7.1M | $8.0M | $9.3M | $10.5M | $10.8M |
| Stock-based compensation | $25.5M | $5.7M | $8.8M | $7.6M | $16.8M | $18.3M | $14.3M |
| Share buybacks | — | — | $3.6M | $21.4M | — | — | — |
| Dividends paid | — | — | $205M | $208M | $192M | $121M | $0.0M |
| Dividends and buybacks | — | — | $209M | $229M | $192M | $121M | $0.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $335M | $428M | $310M | $306M | $187M | $99.1M | $173M |
| Total debt | — | — | $4.8B | $5.7B | $5.7B | $4.9B | $3.2B |
| Loans, net | $5.9B | $6.1B | $6.3B | $7.4B | — | — | — |
| Deposits | — | $0.7M | — | — | — | — | — |
| Total assets | $6.5B | $7.0B | $7.5B | $8.2B | $8.1B | $7.0B | $4.7B |
| Total liabilities | — | $4.3B | $4.9B | $5.8B | $5.8B | $5.0B | $3.2B |
| Preferred stock | — | $0.1M | — | — | — | — | — |
| Shareholders' equity | $2.4B | $2.4B | $2.6B | $2.5B | $2.3B | $2.0B | $1.5B |
| Margins | |||||||
| Net margin | 65.4% | 71.1% | 61.4% | 39.1% | 2.0% | −89.1% | −260.4% |
| Net interest share of revenue | 100.0% | 100.0% | 89.3% | 77.9% | 74.2% | 64.8% | 45.0% |
| Returns | |||||||
| Return on equity | 6.7% | 8.0% | 6.4% | 4.5% | 0.3% | −10.3% | −27.6% |
| Return on assets | 2.5% | 2.9% | 2.2% | 1.4% | 0.1% | −2.9% | −8.4% |
| Return on tangible equity | 6.9% | 8.3% | 6.6% | 4.6% | 0.3% | −11.0% | −31.9% |
| Growth | |||||||
| Revenue growth | — | 9.7% | −4.0% | 9.3% | 6.7% | −19.0% | −24.4% |
| Net income growth | — | 19.2% | −17.2% | −30.4% | −94.6% | −3,771.2% | — |
| EPS growth | — | 0.7% | −16.4% | −37.8% | −97.5% | −8,100.0% | — |
| Share count change | — | 19.3% | 1.2% | 3.5% | −0.5% | 0.4% | 0.7% |
| Financial health | |||||||
| Debt / equity | — | — | 1.9x | 2.3x | 2.5x | 2.4x | 2.1x |
| Loans / deposits | — | 855,562.2% | — | — | — | — | — |
| Provision / loans | — | — | — | 1.1% | — | — | — |
| Capital allocation | |||||||
| Stock comp / revenue | 10.2% | 2.1% | 3.4% | 2.6% | 5.5% | 7.4% | 7.6% |
| Quality scores | |||||||
| Piotroski F-score | — | — | — | 2.0 | 5.0 | 3.0 | 3.0 |
| Accruals ratio | 0.5% | 0.8% | −0.7% | 0.0% | −1.3% | −4.1% | −7.8% |
Source: SEC EDGAR XBRL filings (CIK 0001666291). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.