Ellington Credit Closed End Fund Financials

EARN

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2025 Currency USD FYE December

This page shows Ellington Credit Closed End Fund (EARN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial health score pending refresh

We are recalculating Ellington Credit Closed End Fund's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/5

Ellington Credit Closed End Fund passes 4 of 5 computable financial strength tests (4 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Cash-Backed

1.38x

For every $1 of reported earnings, Ellington Credit Closed End Fund generates $1.38 in operating cash flow ($9.1M OCF vs $6.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$6.6M

YoY+44.5%

5Y CAGR-21.6%

10Y CAGR-8.6%

Ellington Credit Closed End Fund reported $6.6M in net income in fiscal year 2024. This represents an increase of 44.5% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$31.8M

YoY-17.4%

5Y CAGR-2.1%

10Y CAGR-3.5%

Ellington Credit Closed End Fund held $31.8M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.96

YoY+0.0%

5Y CAGR-4.0%

10Y CAGR-8.0%

Ellington Credit Closed End Fund paid $0.96 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

30M

YoY+59.4%

5Y CAGR+18.9%

10Y CAGR+12.5%

Ellington Credit Closed End Fund had 30M shares outstanding in fiscal year 2024. This represents an increase of 59.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

3.4%

YoY+0.1pp

5Y CAGR-10.4pp

10Y CAGR-6.5pp

Ellington Credit Closed End Fund's ROE was 3.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

Ellington Credit Closed End Fund spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

EARN Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$34.8M-23.1%	$45.3M+205.4%	$14.8M-42.2%	$25.6M+47.7%	$17.4M+102.5%	$8.6M
Income Tax	$510K	$0	N/A	N/A	N/A	N/A
Net Income	$6.6M+44.5%	$4.6M+115.1%	-$30.2M-378.6%	-$6.3M-131.4%	$20.1M-9.6%	$22.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$6.2M	N/A	$7.8M-24.3%	$10.2M+1.3%	$10.1M	N/A	$12.3M+5.7%	$11.7M
Income Tax	-$6K	N/A	$463K+717.3%	-$75K-124.8%	$303K	N/A	$0	$0
Net Income	-$7.9M	N/A	$5.4M+768.1%	-$815K-120.6%	$4.0M	N/A	-$11.4M-1049.3%	$1.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EARN Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$824.1M-12.9%	$945.7M-10.2%	$1.1B-34.1%	$1.6B+33.8%	$1.2B-19.8%	$1.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$31.8M-17.4%	$38.5M+10.7%	$34.8M-49.6%	$69.0M+18.7%	$58.2M+64.5%	$35.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$630.4M-22.1%	$809.5M-14.0%	$941.2M-34.8%	$1.4B+40.4%	$1.0B-22.6%	$1.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$193.7M+42.2%	$136.2M+21.2%	$112.4M-27.1%	$154.2M-7.3%	$166.4M+3.5%	$160.8M
Retained Earnings	-$155.2M-11.9%	-$138.6M-7.8%	-$128.7M-51.8%	-$84.8M-33.8%	-$63.3M+9.1%	-$69.6M

Metric	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Total Assets	$783.6M-4.9%	$824.1M+9.5%	$752.3M-19.4%	$933.5M-3.2%	$964.0M+1.9%	$945.7M-11.2%	$1.1B-1.8%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$17.4M-45.4%	$31.8M+23.7%	$25.7M-78.3%	$118.8M+429.2%	$22.4M-41.8%	$38.5M-3.7%	$40.0M-8.5%	$43.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$555.1M-11.9%	$630.4M+12.4%	$560.7M-28.8%	$787.3M-4.1%	$821.0M+1.4%	$809.5M-15.1%	$953.0M-1.5%	$967.3M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$228.5M+18.0%	$193.7M+1.1%	$191.6M+31.1%	$146.1M+2.2%	$142.9M+4.9%	$136.2M+22.2%	$111.5M-4.5%	$116.7M
Retained Earnings	-$171.7M-10.7%	-$155.2M-6.1%	-$146.2M-0.7%	-$145.2M-4.1%	-$139.4M-0.6%	-$138.6M+5.7%	-$147.0M-11.5%	-$131.8M

EARN Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$9.1M+190.9%	-$10.0M-144.7%	$22.4M-19.6%	$27.9M+14.4%	$24.4M+39.0%	$17.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$116.4M+35.8%	$85.7M-22.5%	$110.5M+825.8%	-$15.2M-105.0%	$304.1M+37.1%	$221.9M
Financing Cash Flow	-$132.3M-83.7%	-$72.0M+56.9%	-$167.2M-9255.1%	-$1.8M+99.4%	-$305.6M-37.3%	-$222.6M
Dividends Paid	$22.2M+57.3%	$14.1M+1.3%	$13.9M-19.3%	$17.3M+24.8%	$13.8M-10.5%	$15.5M
Share Buybacks	$0	$0-100.0%	$262K	$0-100.0%	$986K+32.0%	$747K

Metric	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Operating Cash Flow	$9.2M+109.1%	$4.4M+35.9%	$3.2M+21.4%	$2.7M+321.6%	-$1.2M+47.0%	-$2.3M+32.5%	-$3.4M-68.5%	-$2.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$27.1M+63.3%	-$74.0M-259.6%	$46.4M-55.2%	$103.4M+154.4%	$40.6M+15.5%	$35.2M-49.1%	$69.1M+160.0%	$26.6M
Financing Cash Flow	$3.5M-95.4%	$75.7M+153.1%	-$142.6M-1359.1%	-$9.8M+82.4%	-$55.5M-61.5%	-$34.4M+50.5%	-$69.4M-296.5%	-$17.5M
Dividends Paid	$8.1M+18.1%	$6.8M+6.6%	$6.4M+30.0%	$4.9M+6.0%	$4.7M+19.2%	$3.9M+4.6%	$3.7M+10.8%	$3.4M
Share Buybacks	$978K	N/A	N/A	N/A	$0	$0	$0	N/A

EARN Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	3.4%+0.1pp	3.4%+30.2pp	-26.9%-22.8pp	-4.1%-16.2pp	12.1%-1.8pp	13.8%
Return on Assets	0.8%+0.3pp	0.5%+3.4pp	-2.9%-2.5pp	-0.4%-2.1pp	1.7%+0.2pp	1.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.25-2.7	5.94-2.4	8.37-1.0	9.36+3.2	6.18-2.1	8.26
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-3.4%	N/A	2.8%+3.4pp	-0.6%-3.3pp	2.8%	N/A	-10.3%-11.3pp	1.0%
Return on Assets	-1.0%	N/A	0.7%+0.8pp	-0.1%-0.5pp	0.4%	N/A	-1.1%-1.2pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.43-0.8	3.25+0.3	2.93-2.5	5.39-0.4	5.74-0.2	5.94-2.6	8.55+0.3	8.29
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Ellington Credit Closed End Fund profitable?

Yes, Ellington Credit Closed End Fund (EARN) reported a net income of $6.6M in fiscal year 2024.

Does Ellington Credit Closed End Fund pay dividends?

Yes, Ellington Credit Closed End Fund (EARN) paid $0.96 per share in dividends during fiscal year 2024.

What is Ellington Credit Closed End Fund's return on equity (ROE)?

Ellington Credit Closed End Fund (EARN) has a return on equity of 3.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ellington Credit Closed End Fund's operating cash flow?

Ellington Credit Closed End Fund (EARN) generated $9.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ellington Credit Closed End Fund's total assets?

Ellington Credit Closed End Fund (EARN) had $824.1M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Ellington Credit Closed End Fund have outstanding?

Ellington Credit Closed End Fund (EARN) had 30M shares outstanding as of fiscal year 2024.

What is Ellington Credit Closed End Fund's debt-to-equity ratio?

Ellington Credit Closed End Fund (EARN) had a debt-to-equity ratio of 3.25 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ellington Credit Closed End Fund's return on assets (ROA)?

Ellington Credit Closed End Fund (EARN) had a return on assets of 0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ellington Credit Closed End Fund's Piotroski F-Score?

Ellington Credit Closed End Fund (EARN) has a Piotroski F-Score of 4 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ellington Credit Closed End Fund's earnings high quality?

Ellington Credit Closed End Fund (EARN) has an earnings quality ratio of 1.38x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.