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Ellington Financial Inc. (EFC) Financials

EFC
Trailing 12 months to June 30, 2026
Revenue $455.4M +44.8% YoY
Net Income $226.1M +57.6% YoY
EPS (Diluted) $1.61 +30.9% YoY
Operating Cash Flow -$617.6M +0.3% YoY
Market Cap $1.5B as of Oct 7, 2026
Price / Sales 3.3x on $455.4M revenue, trailing 12 months to June 30, 2026
Price / Earnings 6.7x on $226.1M net income, trailing 12 months to June 30, 2026
Price / Book 0.8x on $2.0B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EFC SEC filings page.

Ellington Financial Inc. (EFC) reported $455.4M in revenue over the twelve months to Jun 30, 2026, up 44.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI EFC FY2025

Reported profits sit on a heavily financed balance sheet, while cash movements show an investment portfolio funded through continual turnover and external financing.

In FY2025, net income of $151M coexisted with operating cash flow of -$925M, showing that accounting earnings did not translate directly into cash retained. The combination of $5.1B of financing inflows and $4.1B of investing outflows points to a business managed through portfolio and funding flows rather than accumulated operating cash.

FY2025 ended with $19.4B of assets against $17.5B of liabilities. With only $1.8B of equity supporting that structure, balance-sheet financing is central to how the business operates, rather than retained profits alone.

Revenue was $336M and interest expense was $305M in FY2025. Because net income was $151M, the earnings result depends on more than revenue; financing costs are central to interpreting reported profitability.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 43 / 100
Financial Health Score 43/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ellington Financial Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin
65

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Ellington Financial Inc. scores 65/100 on it among other REITs.

FFO Growth
100

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Ellington Financial Inc. scores 100/100 on it among other REITs.

Leverage
0

Not available for Ellington Financial Inc., and counted as zero in the overall score.

Interest Cov.
0

Not available for Ellington Financial Inc., and counted as zero in the overall score.

AFFO Margin
69

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Ellington Financial Inc. scores 69/100 on it among other REITs.

Dividend Cov.
22

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Ellington Financial Inc. scores 22/100 on it among other REITs.

Piotroski F-Score Partial
1/6

Ellington Financial Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

For every $1 of reported earnings, Ellington Financial Inc. used $6.14 of operating cash (-$925.5M OCF vs $150.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

Revenue
$123.1M
YoY+33.1%
QoQ-28.1%

Ellington Financial Inc. generated $123.1M in revenue in Q2 2026. This represents an increase of 33.1% from the same quarter a year earlier. Against the prior quarter it is down 28.1%.

Net Income
$54.4M
YoY+26.7%
QoQ-43.0%

Ellington Financial Inc. reported $54.4M in net income in Q2 2026. This represents an increase of 26.7% from the same quarter a year earlier. Against the prior quarter it is down 43.0%.

EPS (Diluted)
$0.43
YoY-4.4%
QoQ-44.9%
5Y CAGR-10.5%
10Y CAGR+11.1%

Ellington Financial Inc. earned $0.43 per diluted share (EPS) in Q2 2026. This represents a decrease of 4.4% from the same quarter a year earlier. Against the prior quarter it is down 44.9%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$247.5M
YoY+17.3%
QoQ+51.6%
5Y CAGR+12.9%
10Y CAGR+5.8%

Ellington Financial Inc. held $247.5M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share
$0.39
YoY0.0%
QoQ0.0%
5Y CAGR-2.4%

Ellington Financial Inc. paid $0.39 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding
129M
YoY+29.0%
QoQ+2.8%
5Y CAGR+20.8%
10Y CAGR+14.7%

Ellington Financial Inc. had 129M shares outstanding in Q2 2026. This represents an increase of 29.0% from the same quarter a year earlier. Against the prior quarter it is up 2.8%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin
44.2%
YoY-2.2pp
QoQ-11.6pp

Ellington Financial Inc.'s net profit margin was 44.2% in Q2 2026, showing the share of revenue converted to profit. This is down 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.6 percentage points.

Return on Equity
2.8%
YoY+0.2pp
QoQ-2.2pp

Ellington Financial Inc.'s ROE was 2.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.2 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

EFC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFC quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$123.1M+33.1%$171.3M+106.6%$78.2M+8.7%$82.8M+23.6%$92.5M+1.5%$82.9M+9.8%$72.0M-15.0%$67.0M+24.6%
Interest Expense$98.6M+36.6%$88.2M+21.5%$86.6M+26.2%$73.1M-0.7%$72.1M+7.9%$72.7M+3.1%$68.6M-2.9%$73.7M+7.2%
Income Tax$52K-96.5%$966K+1106.3%$1.4M+240.8%$1.1M+8733.3%$1.5M+938.7%-$96K-257.4%$397K+207.8%$12K-94.6%
Net Income$54.4M+26.7%$95.5M+201.6%$46.7M-11.3%$29.5M+82.4%$42.9M-18.0%$31.6M+17.6%$52.7M+209.0%$16.2M+145.4%
EPS (Basic)$0.43-4.4%$0.78+122.9%$0.11-54.2%$0.29+52.6%$0.45-27.4%$0.35+9.4%$0.24+41.2%$0.19+90.0%
EPS (Diluted)$0.43-4.4%$0.78+122.9%$0.11$0.29+52.6%$0.45-27.4%$0.35+9.4%$0.24+41.2%$0.19+90.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Diluted Shares (Avg).

EFC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFC quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$21.0B+23.2%$20.2B+21.6%$19.4B+18.6%$17.8B+11.9%$17.1B+13.1%$16.6B+10.0%$16.3B+6.5%$16.0B+10.4%
Cash & Equivalents$247.5M+17.3%$163.2M-19.7%$201.9M+4.9%$184.8M-15.1%$211.0M+6.3%$203.3M+8.4%$192.4M-16.0%$217.7M+24.7%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$19.0B+23.7%$18.3B+21.8%$17.5B+18.7%$16.0B+12.0%$15.4B+13.8%$15.0B+10.5%$14.7B+6.9%$14.3B+9.3%
Total Equity$2.0B+18.0%$1.9B+18.9%$1.8B+16.8%$1.8B+9.9%$1.7B+7.3%$1.6B+5.3%$1.6B+3.5%$1.6B+22.4%
Retained Earnings-$360.9M+3.5%-$366.1M+3.5%-$413.0M-10.1%-$384.7M-6.2%-$374.0M-8.8%-$379.3M-4.5%-$375.1M-6.2%-$362.1M-8.5%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

EFC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFC quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$19.1M+90.9%-$10.0M+92.1%-$298.1M-111.8%-$290.4M-105.0%-$210.5M-137.6%-$126.4M-112.6%-$140.8M-78.3%-$141.7M-99.9%
Depreciation & Amortization$120K-71.3%$110K-74.3%$120K-72.7%$411K-6.4%$418K-40.1%$428K+8.4%$439K+21.6%$439K+59.6%
Stock-Based Compensation$1.5M+50.0%$1.0M+150.0%N/A$1.0M+233.3%$1.0M+233.3%$400K+33.3%N/A$300K0.0%
Investing Cash Flow-$2.3B-357.2%-$1.9B-200.6%-$1.9B-208.0%-$1.0B-77.5%-$495.7M-749.8%-$633.8M-261.3%-$621.4M-309.6%-$576.2M-4296.4%
Financing Cash Flow$2.4B+231.3%$1.8B+130.1%$2.3B+215.6%$1.3B+73.7%$719.6M+3014.0%$768.5M+307.6%$742.8M+555.1%$741.5M+1891.5%
Dividends Paid$49.9M+30.9%$55.3M+29.1%$49.5M+16.9%$40.6M+16.8%$38.1M+13.7%$42.9M+7.3%$42.4M+0.8%$34.8M+12.3%
Share BuybacksN/AN/A$0$0$0-100.0%$0-100.0%$0$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

EFC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EFC quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Net Margin44.2%-2.2pp55.7%+17.6pp59.7%-13.5pp35.6%+11.5pp46.4%-11.1pp38.2%+2.5pp73.2%+130.3pp24.1%+11.9pp
Return on Equity2.8%+0.2pp5.0%+3.0pp2.5%-0.8pp1.7%+0.7pp2.6%-0.8pp2.0%+0.2pp3.4%+6.5pp1.0%+0.5pp
Return on Assets0.3%0.0pp0.5%+0.3pp0.2%-0.1pp0.2%+0.1pp0.3%-0.1pp0.2%0.0pp0.3%+0.6pp0.1%+0.1pp
Debt-to-Equity9.68+0.4x9.52+0.2x9.53+0.2x9.09+0.2x9.24+0.5x9.30+0.4x9.38+0.3x8.91-1.1x
Asset Turnover0.010.0x0.010.0x0.000.0x0.000.0x0.010.0x0.010.0x0.000.0x0.000.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Ellington Financial Inc. EFC FY2025 $336.4M $150.8M 44.8% $1.5B 43/100
LADDER CAPITAL CORP LADR FY2025 $266.9M $63.7M 23.9% $1.1B 23/100
MFA Financial, Inc. MFA FY2025 $745.1M $176.8M 23.7% $743.0M 0/100
Dynex Capital, Inc. DX FY2025 N/A $319K N/A $2.7B —
Apollo Commercial Real Estate Finance, Inc. ARI FY2025 $271.6M $126.7M 46.7% $800.8M 33/100
PennyMac Mortgage Investment Trust PMT FY2025 $307.5M $86.1M 28.0% $686.3M 0/100

Frequently Asked Questions

What is Ellington Financial Inc.'s annual revenue?

Ellington Financial Inc. (EFC) reported $336.4M in total revenue for fiscal year 2025. This represents a 10.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ellington Financial Inc.'s revenue growing?

Ellington Financial Inc. (EFC) revenue grew by 10.1% year-over-year, from $305.6M to $336.4M in fiscal year 2025.

Is Ellington Financial Inc. profitable?

Yes, Ellington Financial Inc. (EFC) reported a net income of $150.8M in fiscal year 2025, with a net profit margin of 44.8%.

Ellington Financial Inc. (EFC) reported diluted earnings per share of $1.19 for fiscal year 2025. This represents a -12.5% 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.

Ellington Financial Inc. (EFC) had a net profit margin of 44.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Ellington Financial Inc. (EFC) paid $1.56 per share in dividends during fiscal year 2025.

Ellington Financial Inc. (EFC) has a return on equity of 8.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Ellington Financial Inc. (EFC) recorded an outflow of $925.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Ellington Financial Inc. (EFC) had $19.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Ellington Financial Inc. (EFC) had 125M shares outstanding as of fiscal year 2025.

Ellington Financial Inc. (EFC) had a debt-to-equity ratio of 9.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Ellington Financial Inc. (EFC) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Ellington Financial Inc. (EFC) trades at 6.7x earnings, its market capitalization divided by net income of $226.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Ellington Financial Inc. (EFC) trades at 3.3x sales, its market capitalization divided by revenue of $455.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Ellington Financial Inc. (EFC) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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.

For every $1 of reported earnings, Ellington Financial Inc. (EFC) used $6.14 of operating cash (-$925.5M OCF vs $150.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.

Ellington Financial Inc. (EFC) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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