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

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 Financials

EFC

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Ellington Financial Inc (EFC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 2026-05-11

Balance-sheet growth funded by large financing inflows, rather than retained cash, is the clearest operating mechanic in these results.

FY2025 net income was $151M, close to FY2024, but operating cash flow deteriorated to -$925M. That gap, alongside financing inflow of $5.1B, suggests reported profit is being shaped far more by a financed balance sheet and portfolio turnover than by cash earnings arriving steadily.

Assets reached $19.4B while equity was only $1.83B, so a thin layer of capital supports a very large investment portfolio and leaves returns highly sensitive to balance-sheet structure. ROA of 0.8% became ROE of 8.2%, which means leverage is doing much of the work in translating modest asset returns into shareholder returns.

The company paid $184M in dividends in FY2025 against net income of $151M, continuing a pattern where distributions were not fully covered by reported earnings and helping explain why retained earnings remain negative. At the same time, shares outstanding increased from 83.0M to 113.1M over two years, so per-share economics weakened even though total profit recovered.

Financial Health Signals

Financial Profile 4/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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.

Leverage

Ellington Financial Inc has elevated debt relative to equity (D/E of 9.53), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Returns

Ellington Financial Inc generates a 8.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is down from 9.4% the prior year.

Piotroski F-Score Weak

1/9

Ellington Financial Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

-6.14x

For every $1 of reported earnings, Ellington Financial Inc generates $-6.14 in operating cash flow (-$925.5M OCF vs $150.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$150.8M

YoY+1.8%

5Y CAGR+54.3%

10Y CAGR+14.7%

Ellington Financial Inc reported $150.8M in net income in fiscal year 2025. This represents an increase of 1.8% from the prior year.

EPS (Diluted)

$1.19

YoY-12.5%

5Y CAGR+25.0%

10Y CAGR+0.5%

Ellington Financial Inc earned $1.19 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 12.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$201.9M

YoY+4.9%

5Y CAGR+12.6%

10Y CAGR+0.9%

Ellington Financial Inc held $201.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.56

YoY-2.5%

5Y CAGR+4.4%

10Y CAGR-4.4%

Ellington Financial Inc paid $1.56 per share in dividends in fiscal year 2025. This represents a decrease of 2.5% from the prior year.

Shares Outstanding

113M

YoY+24.8%

5Y CAGR+20.9%

10Y CAGR+13.1%

Ellington Financial Inc had 113M shares outstanding in fiscal year 2025. This represents an increase of 24.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

8.2%

YoY-1.2pp

5Y CAGR+6.3pp

10Y CAGR+3.0pp

Ellington Financial Inc's ROE was 8.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Ellington Financial Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

EFC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	$304.5M+8.9%	$279.6M+6.5%	$262.5M+85.1%	$141.8M+222.0%	$44.0M-28.6%	$61.7M
Income Tax	$3.8M+519.6%	$612K+33.9%	$457K+102.6%	-$17.7M-663.5%	$3.1M-72.4%	$11.4M
Net Income	$150.8M+1.8%	$148.1M+168395.3%	$88K+100.1%	-$70.9M-150.4%	$140.6M+715.1%	$17.2M
EPS (Diluted)	$1.19-12.5%	$1.36+52.8%	$0.89+162.2%	$-1.43-155.4%	$2.58+561.5%	$0.39

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$88.2M	N/A	$73.1M+1.4%	$72.1M-0.7%	$72.7M	N/A	$73.7M+10.1%	$66.9M
Income Tax	$966K	N/A	$1.1M-28.1%	$1.5M+1636.5%	-$96K	N/A	$12K-91.5%	$142K
Net Income	$95.5M	N/A	$29.5M-31.3%	$42.9M+35.6%	$31.6M	N/A	$16.2M-69.1%	$52.3M
EPS (Diluted)	$0.78	N/A	$0.29-35.6%	$0.45+28.6%	$0.35	N/A	$0.19-69.4%	$0.62

EFC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$19.4B+18.6%	$16.3B+6.5%	$15.3B+8.7%	$14.1B+172.1%	$5.2B+51.7%	$3.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$201.9M+4.9%	$192.4M-16.0%	$228.9M+5.5%	$217.1M+134.2%	$92.7M-17.0%	$111.6M
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	$17.5B+18.7%	$14.7B+6.9%	$13.8B+7.1%	$12.9B+233.8%	$3.9B+54.6%	$2.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$85.8M+0.3%	$85.6M
Total Equity	$1.8B+16.8%	$1.6B+3.5%	$1.5B+26.8%	$1.2B-7.4%	$1.3B+45.9%	$885.2M
Retained Earnings	-$413.0M-10.1%	-$375.1M-6.2%	-$353.4M-21.5%	-$290.9M-199.0%	-$97.3M+31.3%	-$141.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$20.2B+4.5%	$19.4B+8.5%	$17.8B+4.5%	$17.1B+2.6%	$16.6B+2.0%	$16.3B+2.3%	$16.0B+5.7%	$15.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$163.2M-19.2%	$201.9M+9.2%	$184.8M-12.4%	$211.0M+3.8%	$203.3M+5.7%	$192.4M-11.6%	$217.7M+9.7%	$198.5M
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	$18.3B+4.5%	$17.5B+8.9%	$16.0B+4.3%	$15.4B+2.5%	$15.0B+1.9%	$14.7B+2.8%	$14.3B+6.0%	$13.5B
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	$1.9B+4.7%	$1.8B+3.9%	$1.8B+6.0%	$1.7B+3.2%	$1.6B+2.8%	$1.6B-2.3%	$1.6B+3.5%	$1.6B
Retained Earnings	-$366.1M+11.3%	-$413.0M-7.3%	-$384.7M-2.9%	-$374.0M+1.4%	-$379.3M-1.1%	-$375.1M-3.6%	-$362.1M-5.3%	-$343.9M

EFC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$925.5M-115.0%	-$430.5M-78.0%	-$241.9M-666.6%	$42.7M-16.8%	$51.3M-57.1%	$119.5M
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	-$4.1B-458.3%	-$728.3M-516.4%	$174.9M+110.0%	-$1.8B+13.5%	-$2.0B-499.3%	$507.3M
Financing Cash Flow	$5.1B+350.3%	$1.1B+1403.7%	$75.6M-95.9%	$1.8B-5.9%	$2.0B+432.8%	-$587.4M
Dividends Paid	$183.6M+12.3%	$163.5M+9.6%	$149.3M+21.3%	$123.1M+43.6%	$85.7M+31.8%	$65.0M
Share Buybacks	$0-100.0%	$685K-94.5%	$12.4M+644.5%	$1.7M	$0-100.0%	$3.1M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$10.0M+96.7%	-$298.1M-2.6%	-$290.4M-38.0%	-$210.5M-66.6%	-$126.4M+10.2%	-$140.8M+0.6%	-$141.7M-59.9%	-$88.6M
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	-$1.9B+0.4%	-$1.9B-87.1%	-$1.0B-106.3%	-$495.7M+21.8%	-$633.8M-2.0%	-$621.4M-7.8%	-$576.2M-855.2%	$76.3M
Financing Cash Flow	$1.8B-24.6%	$2.3B+82.0%	$1.3B+79.0%	$719.6M-6.4%	$768.5M+3.5%	$742.8M+0.2%	$741.5M+3109.2%	$23.1M
Dividends Paid	$55.3M+11.8%	$49.5M+21.9%	$40.6M+6.6%	$38.1M-11.1%	$42.9M+1.2%	$42.4M+21.8%	$34.8M+3.9%	$33.5M
Share Buybacks	N/A	$0	$0	$0	$0	$0	$0-100.0%	$161K

EFC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	8.2%-1.2pp	9.4%+9.4pp	0.0%+5.9pp	-5.9%-16.8pp	10.9%+8.9pp	1.9%
Return on Assets	0.8%-0.1pp	0.9%+0.9pp	0.0%+0.5pp	-0.5%-3.2pp	2.7%+2.2pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.53+0.2	9.38+0.3	9.08+9.1	0.00-0.1	0.07-0.0	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	5.0%	N/A	1.7%-0.9pp	2.6%+0.6pp	2.0%	N/A	1.0%-2.4pp	3.4%
Return on Assets	0.5%	N/A	0.2%-0.1pp	0.3%+0.1pp	0.2%	N/A	0.1%-0.3pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.52-0.0	9.53+0.4	9.09-0.1	9.24-0.1	9.30-0.1	9.38+0.5	8.91+0.2	8.71
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 $150.8M in fiscal year 2025.

Does Ellington Financial Inc pay dividends?

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

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

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.

What is Ellington Financial Inc's operating cash flow?

Ellington Financial Inc (EFC) generated -$925.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ellington Financial Inc's total assets?

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

How many shares does Ellington Financial Inc have outstanding?

Ellington Financial Inc (EFC) had 113M shares outstanding as of fiscal year 2025.

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

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.

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

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.

What is Ellington Financial Inc's cash runway?

Based on fiscal year 2025 data, Ellington Financial Inc (EFC) had $201.9M in cash against an annual operating cash burn of $925.5M. This gives an estimated cash runway of approximately 3 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 1 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 to 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 -6.14x, 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.

How financially healthy is Ellington Financial Inc?

Ellington Financial Inc (EFC) scores 4 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.