Ellington Financial Inc Financials

EFC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Ellington Financial Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

-3.65x

For every $1 of reported earnings, Ellington Financial Inc generates $-3.65 in operating cash flow (-$430.5M OCF vs $117.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Ellington Financial Inc (EFC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$117.8M

YoY+93.5%

5Y CAGR+15.8%

10Y CAGR+7.1%

Ellington Financial Inc reported $117.8M in net income in fiscal year 2024. This represents an increase of 93.5% from the prior year.

EPS (Diluted)

$1.36

YoY+52.8%

5Y CAGR-5.0%

10Y CAGR-4.2%

Ellington Financial Inc earned $1.36 per diluted share (EPS) in fiscal year 2024. This represents an increase of 52.8% from the prior year.

Cash & Debt

$192.4M

YoY-16.0%

5Y CAGR+21.6%

10Y CAGR+5.4%

Ellington Financial Inc held $192.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$1600.00

YoY-11.1%

5Y CAGR+288.4%

Ellington Financial Inc paid $1600.00 per share in dividends in fiscal year 2024. This represents a decrease of 11.1% from the prior year.

Shares Outstanding

91M

YoY+9.3%

5Y CAGR+18.6%

10Y CAGR+10.5%

Ellington Financial Inc had 91M shares outstanding in fiscal year 2024. This represents an increase of 9.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

7.5%

YoY+3.5pp

5Y CAGR+0.7pp

10Y CAGR-0.1pp

Ellington Financial Inc's ROE was 7.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$685K

YoY-94.5%

5Y CAGR-2.6%

Ellington Financial Inc spent $685K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 94.5% from the prior year.

Capital Expenditures

N/A

EFC 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	$279.6M+6.5%	$262.5M+85.1%	$141.8M+222.0%	$44.0M-28.6%	$61.7M-21.4%	$78.5M
Income Tax	$612K+33.9%	$457K+102.6%	-$17.7M-663.5%	$3.1M-72.4%	$11.4M+630.2%	$1.6M
Net Income	$117.8M+93.5%	$60.9M+171.4%	-$85.3M-168.1%	$125.3M+626.9%	$17.2M-69.5%	$56.5M
EPS (Diluted)	$1.36+52.8%	$0.89+162.2%	$-1.43-155.4%	$2.58+561.5%	$0.39-77.8%	$1.76

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
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	$73.1M+1.4%	$72.1M-0.7%	$72.7M-1.4%	$73.7M+10.1%	$66.9M-5.1%	$70.5M	N/A	$68.7M
Income Tax	$1.1M-28.1%	$1.5M+1636.5%	-$96K-900.0%	$12K-91.5%	$142K+132.8%	$61K	N/A	$224K
Net Income	$29.5M-31.3%	$42.9M+35.6%	$31.6M+95.7%	$16.2M-69.1%	$52.3M+94.5%	$26.9M	N/A	$6.6M
EPS (Diluted)	$0.29-35.6%	$0.45+28.6%	$0.35+84.2%	$0.19-69.4%	$0.62+93.8%	$0.32	N/A	$0.10

EFC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$16.3B+6.5%	$15.3B+8.7%	$14.1B+172.1%	$5.2B+51.7%	$3.4B-21.3%	$4.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$192.4M-16.0%	$228.9M+5.5%	$217.1M+134.2%	$92.7M-17.0%	$111.6M+54.4%	$72.3M
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	$14.7B+6.9%	$13.8B+7.1%	$12.9B+233.8%	$3.9B+54.6%	$2.5B-28.2%	$3.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$0-100.0%	$85.8M+0.3%	$85.6M+0.3%	$85.3M
Total Equity	$1.6B+3.5%	$1.5B+26.8%	$1.2B-7.4%	$1.3B+45.9%	$885.2M+6.7%	$829.3M
Retained Earnings	-$375.1M-6.2%	-$353.4M-21.5%	-$290.9M-199.0%	-$97.3M+31.3%	-$141.5M-36.7%	-$103.6M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$17.8B+4.5%	$17.1B+2.6%	$16.6B+2.0%	$16.3B+8.1%	$15.1B-0.3%	$15.1B-1.2%	$15.3B+6.0%	$14.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$184.8M-12.4%	$211.0M+3.8%	$203.3M+5.7%	$192.4M-3.1%	$198.5M+5.9%	$187.5M-18.1%	$228.9M+31.1%	$174.7M
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	$16.0B+4.3%	$15.4B+2.5%	$15.0B+1.9%	$14.7B+8.9%	$13.5B-0.4%	$13.6B-1.5%	$13.8B+5.1%	$13.1B
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	$1.8B+6.0%	$1.7B+3.2%	$1.6B+2.8%	$1.6B+1.1%	$1.6B+1.3%	$1.5B+1.1%	$1.5B+15.5%	$1.3B
Retained Earnings	-$384.7M-2.9%	-$374.0M+1.4%	-$379.3M-1.1%	-$375.1M-9.1%	-$343.9M+5.3%	-$363.0M-2.7%	-$353.4M-5.9%	-$333.6M

EFC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$430.5M-78.0%	-$241.9M-666.6%	$42.7M-16.8%	$51.3M-57.1%	$119.5M+50.8%	$79.2M
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	-$728.3M-516.4%	$174.9M+110.0%	-$1.8B+13.5%	-$2.0B-499.3%	$507.3M+130.5%	-$1.7B
Financing Cash Flow	$1.1B+1403.7%	$75.6M-95.9%	$1.8B-5.9%	$2.0B+432.8%	-$587.4M-136.4%	$1.6B
Dividends Paid	$163.5M+9.6%	$149.3M+21.3%	$123.1M+43.6%	$85.7M+31.8%	$65.0M+19.7%	$54.3M
Share Buybacks	$685K-94.5%	$12.4M+644.5%	$1.7M	$0-100.0%	$3.1M+290.8%	$782K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$290.4M-38.0%	-$210.5M-66.6%	-$126.4M+10.2%	-$140.8M-58.9%	-$88.6M-49.0%	-$59.5M+24.7%	-$79.0M-11.4%	-$70.9M
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	-$1.0B-106.3%	-$495.7M+21.8%	-$633.8M-2.0%	-$621.4M-914.5%	$76.3M-80.6%	$393.0M+32.6%	$296.4M+2059.1%	$13.7M
Financing Cash Flow	$1.3B+79.0%	$719.6M-6.4%	$768.5M+3.5%	$742.8M+3114.6%	$23.1M+106.2%	-$370.2M-126.8%	-$163.2M-538.3%	$37.2M
Dividends Paid	$40.6M+6.6%	$38.1M-11.1%	$42.9M+1.2%	$42.4M+26.5%	$33.5M-16.2%	$40.0M-5.0%	$42.0M+35.7%	$31.0M
Share Buybacks	$0	$0	$0	$0-100.0%	$161K-69.3%	$524K	$0	$0

EFC 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	7.5%+3.5pp	4.0%	N/A	9.7%+7.8pp	1.9%-4.9pp	6.8%
Return on Assets	0.7%+0.3pp	0.4%+1.0pp	-0.6%-3.0pp	2.4%+1.9pp	0.5%-0.8pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.38+0.3	9.08+9.1	0.00-0.1	0.07-0.0	0.100.0	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
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	1.7%-0.9pp	2.6%+0.6pp	2.0%+0.9pp	1.0%-2.4pp	3.4%+1.6pp	1.8%	N/A	0.5%
Return on Assets	0.2%-0.1pp	0.3%+0.1pp	0.2%+0.1pp	0.1%-0.3pp	0.4%+0.2pp	0.2%	N/A	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.09-0.1	9.24-0.1	9.30-0.1	9.38+0.7	8.71-0.1	8.86-0.2	9.08-0.9	9.98
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 Financial Inc profitable?

Yes, Ellington Financial Inc (EFC) reported a net income of $117.8M in fiscal year 2024.

What is Ellington Financial Inc's earnings per share (EPS)?

Ellington Financial Inc (EFC) reported diluted earnings per share of $1.36 for fiscal year 2024. This represents a 52.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Does Ellington Financial Inc pay dividends?

Yes, Ellington Financial Inc (EFC) paid $1600.00 per share in dividends during fiscal year 2024.

What is Ellington Financial Inc's return on equity (ROE)?

Ellington Financial Inc (EFC) has a return on equity of 7.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ellington Financial Inc's operating cash flow?

Ellington Financial Inc (EFC) generated -$430.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ellington Financial Inc's total assets?

Ellington Financial Inc (EFC) had $16.3B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Ellington Financial Inc buy back shares?

Yes, Ellington Financial Inc (EFC) spent $685K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Ellington Financial Inc have outstanding?

Ellington Financial Inc (EFC) had 91M shares outstanding as of fiscal year 2024.

What is Ellington Financial Inc's debt-to-equity ratio?

Ellington Financial Inc (EFC) had a debt-to-equity ratio of 9.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ellington Financial Inc's return on assets (ROA)?

Ellington Financial Inc (EFC) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ellington Financial Inc's cash runway?

Based on fiscal year 2024 data, Ellington Financial Inc (EFC) had $192.4M in cash against an annual operating cash burn of $430.5M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Ellington Financial Inc's Piotroski F-Score?

Ellington Financial Inc (EFC) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ellington Financial Inc's earnings high quality?

Ellington Financial Inc (EFC) has an earnings quality ratio of -3.65x, considered low quality (accrual-driven). 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.