Ellington Financial Inc.
EFC NYSE Real Estate Financials FY2016–FY2025
Last close · Oct 23, 2026
$11.73
0.9%
Revenue
Total sales reported in the income statement.
$336M
10.1%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$119M
0.8%
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.
—
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
7.3x
On $1.60 EPS (TTM)
What Ellington Financial Inc. does
No business description yet.
- Legal name
- Ellington Financial Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 2, 2026
- Accession · CIK
- 0001628280-26-013279
0001411342
Revenue and margins
Ellington Financial Inc. had $336M of revenue in fiscal 2025, up 10.1% on the year before.
FY16
Revenue —
FY17
Revenue —
FY18
Revenue —
FY19
Revenue $93.3M
FY20
Revenue $46.7M
FY21
Revenue $151M
FY22
Revenue $60.0M
FY23
Revenue $277M
FY24
Revenue $306M
FY25
Revenue $336M
Q3 '23
Revenue $53.7M
Q4 '23
Revenue $84.6M
Q1 '24
Revenue $75.5M
Q2 '24
Revenue $91.2M
Q3 '24
Revenue $67.0M
Q4 '24
Revenue $72.0M
Q1 '25
Revenue $82.9M
Q2 '25
Revenue $92.5M
Q3 '25
Revenue $82.8M
Q4 '25
Revenue $78.2M
Q1 '26
Revenue $171M
Q2 '26
Revenue $123M
FY16
Gross —
Operating —
Net —
FCF —
FY17
Gross —
Operating —
Net —
FCF —
FY18
Gross —
Operating —
Net —
FCF —
FY19
Gross —
Operating —
Net 60.5%
FCF —
FY20
Gross —
Operating —
Net 37.0%
FCF —
FY21
Gross —
Operating —
Net 83.0%
FCF —
FY22
Gross —
Operating —
Net −142.2%
FCF —
FY23
Gross —
Operating —
Net 22.0%
FCF —
FY24
Gross —
Operating —
Net 38.6%
FCF —
FY25
Gross —
Operating —
Net 35.3%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating —
Net 12.3%
FCF —
Q4 '23
Gross —
Operating —
Net 14.8%
FCF —
Q1 '24
Gross —
Operating —
Net 35.6%
FCF —
Q2 '24
Gross —
Operating —
Net 57.4%
FCF —
Q3 '24
Gross —
Operating —
Net 24.1%
FCF —
Q4 '24
Gross —
Operating —
Net 31.1%
FCF —
Q1 '25
Gross —
Operating —
Net 38.2%
FCF —
Q2 '25
Gross —
Operating —
Net 46.4%
FCF —
Q3 '25
Gross —
Operating —
Net 35.7%
FCF —
Q4 '25
Gross —
Operating —
Net 18.7%
FCF —
Q1 '26
Gross —
Operating —
Net 55.7%
FCF —
Q2 '26
Gross —
Operating —
Net 44.2%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income −$16.0M
FY17
Net income $34.0M
FY18
Net income $46.7M
FY19
Net income $56.5M
FY20
Net income $17.2M
FY21
Net income $125M
FY22
Net income −$85.3M
FY23
Net income $60.9M
FY24
Net income $118M
FY25
Net income $119M
Q3 '23
Net income $6.6M
Q4 '23
Net income $12.5M
Q1 '24
Net income $26.9M
Q2 '24
Net income $52.3M
Q3 '24
Net income $16.2M
Q4 '24
Net income $22.4M
Q1 '25
Net income $31.6M
Q2 '25
Net income $42.9M
Q3 '25
Net income $29.5M
Q4 '25
Net income $14.7M
Q1 '26
Net income $95.5M
Q2 '26
Net income $54.4M
FY16
Diluted EPS −$0.48
FY17
Diluted EPS $1.04
FY18
Diluted EPS $1.52
FY19
Diluted EPS $1.76
FY20
Diluted EPS $0.39
FY21
Diluted EPS $2.58
FY22
Diluted EPS −$1.43
FY23
Diluted EPS $0.89
FY24
Diluted EPS $1.36
FY25
Diluted EPS $1.19
Q3 '23
Diluted EPS $0.10
Q4 '23
Diluted EPS $0.17
Q1 '24
Diluted EPS $0.32
Q2 '24
Diluted EPS $0.62
Q3 '24
Diluted EPS $0.19
Q4 '24
Diluted EPS $0.23
Q1 '25
Diluted EPS $0.35
Q2 '25
Diluted EPS $0.45
Q3 '25
Diluted EPS $0.29
Q4 '25
Diluted EPS $0.10
Q1 '26
Diluted EPS $0.78
Q2 '26
Diluted EPS $0.43
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 5.5%
Return on equity −2.5%
Return on assets −0.7%
FY17
Return on capital 4.4%
Return on equity 5.5%
Return on assets 1.3%
FY18
Return on capital 5.6%
Return on equity 8.0%
Return on assets 1.3%
FY19
Return on capital —
Return on equity 8.1%
Return on assets 1.4%
FY20
Return on capital —
Return on equity 2.0%
Return on assets 0.4%
FY21
Return on capital —
Return on equity 11.5%
Return on assets 2.9%
FY22
Return on capital —
Return on equity −6.9%
Return on assets −0.9%
FY23
Return on capital —
Return on equity 4.5%
Return on assets 0.4%
FY24
Return on capital —
Return on equity 7.6%
Return on assets 0.7%
FY25
Return on capital —
Return on equity 7.0%
Return on assets 0.7%
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.
FY16
Free cash flow —
FY17
Free cash flow —
FY18
Free cash flow —
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 —
FY16
Cash from operations $69.7M
Capital spending —
FY17
Cash from operations −$463M
Capital spending —
FY18
Cash from operations −$494M
Capital spending —
FY19
Cash from operations $79.2M
Capital spending —
FY20
Cash from operations $120M
Capital spending —
FY21
Cash from operations $51.3M
Capital spending —
FY22
Cash from operations $42.7M
Capital spending —
FY23
Cash from operations −$242M
Capital spending —
FY24
Cash from operations −$431M
Capital spending —
FY25
Cash from operations −$925M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations −$70.9M
Capital spending —
Q4 '23
Cash from operations −$79.0M
Capital spending —
Q1 '24
Cash from operations −$59.5M
Capital spending —
Q2 '24
Cash from operations −$88.6M
Capital spending —
Q3 '24
Cash from operations −$142M
Capital spending —
Q4 '24
Cash from operations −$141M
Capital spending —
Q1 '25
Cash from operations −$126M
Capital spending —
Q2 '25
Cash from operations −$211M
Capital spending —
Q3 '25
Cash from operations −$290M
Capital spending —
Q4 '25
Cash from operations −$298M
Capital spending —
Q1 '26
Cash from operations −$10.0M
Capital spending —
Q2 '26
Cash from operations −$19.1M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Ellington Financial Inc. returned $184M to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY16
Dividends $65.1M
Buybacks $14.0M
FY17
Dividends $57.6M
Buybacks $14.6M
FY18
Dividends $50.7M
Buybacks $23.1M
FY19
Dividends $54.3M
Buybacks $0.8M
FY20
Dividends $65.0M
Buybacks $3.1M
FY21
Dividends $85.7M
Buybacks $0.0M
FY22
Dividends $123M
Buybacks $1.7M
FY23
Dividends $149M
Buybacks $12.4M
FY24
Dividends $164M
Buybacks $0.7M
FY25
Dividends $184M
Buybacks $0.0M
Dividends
Buybacks
Q3 '23
Dividends $36.8M
Buybacks $0.0M
Q4 '23
Dividends $42.0M
Buybacks $0.0M
Q1 '24
Dividends $40.0M
Buybacks $0.5M
Q2 '24
Dividends $40.3M
Buybacks $0.2M
Q3 '24
Dividends $40.9M
Buybacks $0.0M
Q4 '24
Dividends $42.4M
Buybacks $0.0M
Q1 '25
Dividends $42.9M
Buybacks $0.0M
Q2 '25
Dividends $44.7M
Buybacks $0.0M
Q3 '25
Dividends $46.6M
Buybacks $0.0M
Q4 '25
Dividends $49.5M
Buybacks $0.0M
Q1 '26
Dividends $55.3M
Buybacks —
Q2 '26
Dividends $53.7M
Buybacks —
Dividends
Buybacks
FY16
Diluted shares —
FY17
Diluted shares —
FY18
Diluted shares —
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.04B
FY21
Diluted shares 0.05B
FY22
Diluted shares 0.06B
FY23
Diluted shares —
FY24
Diluted shares —
FY25
Diluted shares —
Balance sheet
Cash, debt and the ratios that show how comfortably Ellington Financial Inc. can carry it.
FY16
Cash $123M
Debt $0.0M
FY17
Cash $47.2M
Debt $84.8M
FY18
Cash $44.7M
Debt $85.0M
FY19
Cash $72.3M
Debt $85.3M
FY20
Cash $112M
Debt $85.6M
FY21
Cash $92.7M
Debt $85.8M
FY22
Cash $217M
Debt $0.0M
FY23
Cash $229M
Debt —
FY24
Cash $192M
Debt —
FY25
Cash $202M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $92.7M | $217M | $229M | $192M | $202M |
| Debt incl. finance leases | $85.8M | $0.0M | — | — | — |
| Debt / equity | 0.1x | 0.0x | — | — | — |
| Total assets | $5.2B | $14.1B | $15.3B | $16.3B | $19.4B |
| Total liabilities | $3.9B | $12.9B | $13.8B | $14.7B | $17.5B |
| Shareholders' equity | $1.3B | $1.2B | $1.5B | $1.6B | $1.8B |
| Net debt (− = net cash) | −$6.9M | −$217M | — | — | — |
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 | FY16 | FY17 | FY18 | 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 | — / 5 | — / 5 | — / 5 | 3 / 7 | 5 / 7 | 3 / 7 | — / 5 | — / 5 | — / 5 |
| Accruals ratio | −3.6% | 18.4% | 15.5% | −0.5% | −2.6% | 1.7% | −1.3% | 2.1% | 3.5% | 5.9% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | — | — | — | $93.3M | $46.7M | $151M | $60.0M | $277M | $306M | $336M |
| Net interest income | — | — | — | $81.4M | $112M | $131M | $140M | $108M | $136M | $190M |
| Noninterest income | — | — | — | $11.8M | −$65.2M | $19.6M | −$80.4M | $169M | $169M | $146M |
| Operating income | $35.8M | $35.2M | $43.1M | — | — | — | — | — | — | — |
| Interest expense | $16.3M | $31.1M | $56.7M | $78.5M | $61.7M | $44.0M | $142M | $262M | $280M | $305M |
| Pretax income | — | — | — | $63.2M | $1.8M | $85.6M | −$25.0M | $89.2M | $116M | $97.9M |
| Income tax | — | — | — | $1.6M | $11.4M | $3.1M | −$17.7M | $0.5M | $0.6M | $3.8M |
| Net income | −$16.0M | $34.0M | $46.7M | $56.5M | $17.2M | $125M | −$85.3M | $60.9M | $118M | $119M |
| Diluted EPS | −$0.48 | $1.04 | $1.52 | $1.76 | $0.39 | $2.58 | −$1.43 | $0.89 | $1.36 | $1.19 |
| Diluted shares | — | — | — | 0.03B | 0.04B | 0.05B | 0.06B | — | — | — |
| Cash flow | ||||||||||
| Cash from operations | $69.7M | −$463M | −$494M | $79.2M | $120M | $51.3M | $42.7M | −$242M | −$431M | −$925M |
| Depreciation and amortization | — | — | — | — | — | — | $0.3M | $1.1M | $1.5M | $1.0M |
| Stock-based compensation | $0.4M | $0.4M | $0.4M | $0.5M | $0.7M | $1.0M | $1.4M | $1.3M | $1.1M | $3.6M |
| Share buybacks | $14.0M | $14.6M | $23.1M | $0.8M | $3.1M | $0.0M | $1.7M | $12.4M | $0.7M | $0.0M |
| Dividends paid | $65.1M | $57.6M | $50.7M | $54.3M | $65.0M | $85.7M | $123M | $149M | $164M | $184M |
| Dividends and buybacks | $79.2M | $72.3M | $73.9M | $55.1M | $68.1M | $85.7M | $125M | $162M | $164M | $184M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $123M | $47.2M | $44.7M | $72.3M | $112M | $92.7M | $217M | $229M | $192M | $202M |
| Total debt | $0.0M | $84.8M | $85.0M | $85.3M | $85.6M | $85.8M | $0.0M | — | — | — |
| Property and equipment, net | — | — | — | — | — | $0.0M | $1.4M | $1.1M | $1.4M | $0.9M |
| Intangible assets | — | — | — | — | — | $0.0M | $3.3M | $2.7M | $2.2M | $1.8M |
| Total assets | $2.4B | $3.0B | $4.0B | $4.3B | $3.4B | $5.2B | $14.1B | $15.3B | $16.3B | $19.4B |
| Total liabilities | $1.8B | $2.4B | $3.4B | $3.5B | $2.5B | $3.9B | $12.9B | $13.8B | $14.7B | $17.5B |
| Shareholders' equity | $638M | $600M | $564M | $829M | $885M | $1.3B | $1.2B | $1.5B | $1.6B | $1.8B |
| Margins | ||||||||||
| Net margin | — | — | — | 60.5% | 37.0% | 83.0% | −142.2% | 22.0% | 38.6% | 35.3% |
| Net interest share of revenue | — | — | — | 87.3% | 239.8% | 87.0% | 234.1% | 38.9% | 44.6% | 56.5% |
| Returns | ||||||||||
| Return on capital | 5.5% | 4.4% | 5.6% | — | — | — | — | — | — | — |
| Return on equity | −2.5% | 5.5% | 8.0% | 8.1% | 2.0% | 11.5% | −6.9% | 4.5% | 7.6% | 7.0% |
| Return on assets | −0.7% | 1.3% | 1.3% | 1.4% | 0.4% | 2.9% | −0.9% | 0.4% | 0.7% | 0.7% |
| Return on tangible equity | −2.5% | 5.7% | 8.3% | 6.8% | 1.9% | 9.7% | −7.2% | 4.0% | 7.5% | 6.5% |
| Growth | ||||||||||
| Revenue growth | — | — | — | — | −50.0% | 223.7% | −60.3% | 361.6% | 10.4% | 10.1% |
| Net income growth | — | — | 37.4% | 21.0% | −69.5% | 626.9% | −168.1% | — | 93.5% | 0.8% |
| EPS growth | — | — | 46.2% | 15.8% | −77.8% | 561.5% | −155.4% | — | 52.8% | −12.5% |
| Share count change | — | — | — | — | 34.5% | 11.5% | 23.2% | — | — | — |
| Financial health | ||||||||||
| Debt / equity | 0.0x | 0.1x | 0.2x | 0.1x | 0.1x | 0.1x | 0.0x | — | — | — |
| Interest coverage | 2.2x | 1.1x | 0.8x | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Stock comp / revenue | — | — | — | 0.5% | 1.5% | 0.6% | 2.3% | 0.5% | 0.4% | 1.1% |
| Quality scores | ||||||||||
| Piotroski F-score | — | — | — | — | 3.0 | 5.0 | 3.0 | — | — | — |
| Accruals ratio | −3.6% | 18.4% | 15.5% | −0.5% | −2.6% | 1.7% | −1.3% | 2.1% | 3.5% | 5.9% |
Source: SEC EDGAR XBRL filings (CIK 0001411342). 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.