1.Sales and profit
See section β- Claros Mortgage Trust, Inc. had $188M of revenue in fiscal 2025, down 24.4% on the year before. Over five years, revenue changed β7.3% a year on average.
- Claros Mortgage Trust, Inc. lost $489M in fiscal 2025.
Claros Mortgage Trust, Inc.
CMTG NYSE Real Estate Financials FY2019βFY2025
Claros Mortgage Trust, Inc. had $188M of revenue in fiscal 2025, down 24.4% on the year before. Over five years, revenue changed β7.3% a year on average.
Download report
3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$1.21
0.0%KIRAβs summary AI analyst
Hi! I read Claros Mortgage Trust, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
3 to watch
2.Cash and shareholders
See section β- Claros Mortgage Trust, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 0.7%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Claros Mortgage Trust, Inc. owes $3.0B more than it holds in cash.
- Claros Mortgage Trust, Inc. passes 3 of 7 financial health tests (Piotroski F-score).
Claros Mortgage Trust, Inc. in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β24.4%
No. Sales fell 24.4% last year.
Weak
Does it make a profit?
β260.4%
No. It lost money last year.
Weak
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$171M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$3.83 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Claros Mortgage Trust, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 3, 2026
Tuesday Β· in 8 days
- Time
- After the market closes
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- β$0.75
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 29, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 6, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 18, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 5, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 6, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 7, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 19, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 7, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· Claros Mortgage Trust, Inc. had $188M of revenue in fiscal 2025, down 24.4% on the year before. Over five years, revenue changed β7.3% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY19
Revenue $250M
FY20
Revenue $274M
FY21
Revenue $263M
FY22
Revenue $287M
FY23
Revenue $307M
FY24
Revenue $248M
FY25
Revenue $188M
Revenue
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
Margins, % of revenue
FY19
Gross β
Operating β
Net 65.4%
FCF β
FY20
Gross β
Operating β
Net 71.1%
FCF β
FY21
Gross β
Operating β
Net 61.4%
FCF β
FY22
Gross β
Operating β
Net 39.1%
FCF β
FY23
Gross β
Operating β
Net 2.0%
FCF β
FY24
Gross β
Operating β
Net β89.1%
FCF β
FY25
Gross β
Operating β
Net β260.4%
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross β
Operating β
Net β85.6%
FCF β
Q4 '23
Gross β
Operating β
Net 44.8%
FCF β
Q1 '24
Gross β
Operating β
Net β89.7%
FCF β
Q2 '24
Gross β
Operating β
Net β17.9%
FCF β
Q3 '24
Gross β
Operating β
Net β86.7%
FCF β
Q4 '24
Gross β
Operating β
Net β167.2%
FCF β
Q1 '25
Gross β
Operating β
Net β181.3%
FCF β
Q2 '25
Gross β
Operating β
Net β351.9%
FCF β
Q3 '25
Gross β
Operating β
Net β20.7%
FCF β
Q4 '25
Gross β
Operating β
Net β468.9%
FCF β
Q1 '26
Gross β
Operating β
Net β183.9%
FCF β
Q2 '26
Gross β
Operating β
Net β859.7%
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Claros Mortgage Trust, Inc. lost $489M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY19
Net income $163M
FY20
Net income $195M
FY21
Net income $161M
FY22
Net income $112M
FY23
Net income $6.0M
FY24
Net income β$221M
FY25
Net income β$489M
Net income
Q3 '23
Net income β$68.9M
Q4 '23
Net income $34.0M
Q1 '24
Net income β$52.8M
Q2 '24
Net income β$11.6M
Q3 '24
Net income β$56.2M
Q4 '24
Net income β$101M
Q1 '25
Net income β$78.6M
Q2 '25
Net income β$182M
Q3 '25
Net income β$9.5M
Q4 '25
Net income β$219M
Q1 '26
Net income β$54.3M
Q2 '26
Net income β$255M
Diluted EPS
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 β$1.60
FY25
Diluted EPS β$3.49
Diluted EPS
Q3 '23
Diluted EPS β$0.50
Q4 '23
Diluted EPS $0.24
Q1 '24
Diluted EPS β$0.39
Q2 '24
Diluted EPS β$0.09
Q3 '24
Diluted EPS β$0.40
Q4 '24
Diluted EPS β$0.72
Q1 '25
Diluted EPS β$0.56
Q2 '25
Diluted EPS β$1.30
Q3 '25
Diluted EPS β$0.07
Q4 '25
Diluted EPS β$1.56
Q1 '26
Diluted EPS β$0.39
Q2 '26
Diluted EPS β$1.81
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY19
Free cash flow β
FY20
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
Cash from operations vs capital spending
FY19
Cash from operations $130M
Capital spending β
FY20
Cash from operations $140M
Capital spending β
FY21
Cash from operations $214M
Capital spending β
FY22
Cash from operations $111M
Capital spending β
FY23
Cash from operations $111M
Capital spending β
FY24
Cash from operations $84.5M
Capital spending β
FY25
Cash from operations β$30.5M
Capital spending β
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $41.9M
Capital spending β
Q4 '23
Cash from operations $27.3M
Capital spending β
Q1 '24
Cash from operations $21.5M
Capital spending β
Q2 '24
Cash from operations $5.5M
Capital spending β
Q3 '24
Cash from operations $39.2M
Capital spending β
Q4 '24
Cash from operations $18.3M
Capital spending β
Q1 '25
Cash from operations β$35.8M
Capital spending β
Q2 '25
Cash from operations β$5.8M
Capital spending β
Q3 '25
Cash from operations $8.8M
Capital spending β
Q4 '25
Cash from operations $2.4M
Capital spending β
Q1 '26
Cash from operations β$6.5M
Capital spending β
Q2 '26
Cash from operations β$12.1M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Claros Mortgage Trust, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 0.7%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends $205M
Buybacks $3.6M
FY22
Dividends $208M
Buybacks $21.4M
FY23
Dividends $192M
Buybacks β
FY24
Dividends $121M
Buybacks β
FY25
Dividends $0.0M
Buybacks β
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $52.4M
Buybacks β
Q4 '23
Dividends $35.3M
Buybacks β
Q1 '24
Dividends $35.3M
Buybacks β
Q2 '24
Dividends $35.6M
Buybacks β
Q3 '24
Dividends $35.5M
Buybacks β
Q4 '24
Dividends $14.2M
Buybacks β
Q1 '25
Dividends β
Buybacks β
Q2 '25
Dividends β
Buybacks β
Q3 '25
Dividends β
Buybacks β
Q4 '25
Dividends β
Buybacks β
Q1 '26
Dividends β
Buybacks β
Q2 '26
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
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
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Claros Mortgage Trust, Inc. owes $3.0B more than it holds in cash.
Cash, debt and the ratios that show how comfortably Claros Mortgage Trust, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY19
Cash $335M
Debt β
FY20
Cash $428M
Debt β
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 (β = net cash) | $4.4B | $5.4B | $5.5B | $4.8B | $3.0B |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY19
Return on capital β
Return on equity 6.7%
Return on assets 2.5%
FY20
Return on capital β
Return on equity 8.0%
Return on assets 2.9%
FY21
Return on capital β
Return on equity 6.4%
Return on assets 2.2%
FY22
Return on capital β
Return on equity 4.5%
Return on assets 1.4%
FY23
Return on capital β
Return on equity 0.3%
Return on assets 0.1%
FY24
Return on capital β
Return on equity β10.3%
Return on assets β2.9%
FY25
Return on capital β
Return on equity β27.6%
Return on assets β8.4%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Claros Mortgage Trust, Inc. passes 3 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | β / 6 | 2 / 7 | 5 / 7 | 3 / 7 | 3 / 7 |
| Accruals ratio | 0.5% | 0.8% | β0.7% | 0.0% | β1.3% | β4.1% | β7.8% |
| Altman Z'' | β | β | β | β | β | β | β |
All figures
Every number, year by year.
7 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| 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 | β | β | β | $84.4M | β | β | β |
| Interest expense | $140M | $172M | $181M | $247M | $471M | $440M | $305M |
| Net income | $163M | $195M | $161M | $112M | $6.0M | β$221M | β$489M |
| Net income to common | $169M | $202M | $171M | $112M | $6.0M | β$221M | β$489M |
| Diluted EPS | $1.51 | $1.52 | $1.27 | $0.79 | $0.02 | β$1.60 | β$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 | β$30.5M |
| Depreciation and amortization | β | β | $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 | β | β | $3.6M | $21.4M | β | β | β |
| Dividends paid | β | β | $205M | $208M | $192M | $121M | $0.0M |
| Dividends and buybacks | β | β | $209M | $229M | $192M | $121M | $0.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $335M | $428M | $310M | $306M | $187M | $99.1M | $173M |
| Total debt | β | β | $4.8B | $5.7B | $5.7B | $4.9B | $3.2B |
| Loans, net | $5.9B | $6.1B | $6.3B | $7.4B | β | β | β |
| Deposits | β | $0.7M | β | β | β | β | β |
| Total assets | $6.5B | $7.0B | $7.5B | $8.2B | $8.1B | $7.0B | $4.7B |
| Total liabilities | β | $4.3B | $4.9B | $5.8B | $5.8B | $5.0B | $3.2B |
| Preferred stock | β | $0.1M | β | β | β | β | β |
| 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% | β89.1% | β260.4% |
| 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% | β10.3% | β27.6% |
| Return on assets | 2.5% | 2.9% | 2.2% | 1.4% | 0.1% | β2.9% | β8.4% |
| Return on tangible equity | 6.9% | 8.3% | 6.6% | 4.6% | 0.3% | β11.0% | β31.9% |
| Growth | |||||||
| Revenue growth | β | 9.7% | β4.0% | 9.3% | 6.7% | β19.0% | β24.4% |
| Net income growth | β | 19.2% | β17.2% | β30.4% | β94.6% | β3,771.2% | β |
| EPS growth | β | 0.7% | β16.4% | β37.8% | β97.5% | β8,100.0% | β |
| Share count change | β | 19.3% | 1.2% | 3.5% | β0.5% | 0.4% | 0.7% |
| Financial health | |||||||
| Debt / equity | β | β | 1.9x | 2.3x | 2.5x | 2.4x | 2.1x |
| Loans / deposits | β | 855,562.2% | β | β | β | β | β |
| Provision / loans | β | β | β | 1.1% | β | β | β |
| Capital allocation | |||||||
| Stock comp / revenue | 10.2% | 2.1% | 3.4% | 2.6% | 5.5% | 7.4% | 7.6% |
| Quality scores | |||||||
| Piotroski F-score | β | β | β | 2.0 | 5.0 | 3.0 | 3.0 |
| Accruals ratio | 0.5% | 0.8% | β0.7% | 0.0% | β1.3% | β4.1% | β7.8% |
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 β not investment advice. Check the original filings before relying on any figure.