What is Ready Capital Corp's earnings per share (EPS)?

Ready Capital Corp (RC) reported diluted earnings per share of -$1.44 for fiscal year 2025. This represents a 45.2% 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.

Ready Capital Corp Financials

Trailing 12 months to June 30, 2026

Revenue $420.6M -43.0% YoY

Net Income -$549.1M -86.9% YoY

EPS (Diluted) -$3.44 -88.0% YoY

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

Ready Capital Corp (RC) reported $420.6M in revenue over the twelve months to Jun 30, 2026, down 43.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 RC FY2025 2026-04-30

Ready Capital's recent pattern is balance-sheet shrinkage, with cash generation improving even while reported earnings stay negative.

Over the last two years, operating cash flow climbed to $432.1M while net income fell to -$221.1M, which means the reported losses are not consuming liquidity at the same pace they hit accounting profit. Meanwhile, total assets fell from $12.4B to $7.8B, pointing to balance-sheet contraction rather than a business still adding scale.

Even with liabilities lower, debt-to-equity rose to 0.9x from 0.4x because equity absorbed the losses; shrinking the asset base did not stop leverage from looking heavier relative to book capital. Retained earnings moved from $124.4M to -$807.5M, showing how recent results have been eroding the cushion that supports lending assets.

In the latest year, interest expense was $514.1M against $569.2M of revenue, so funding cost was doing most of the damage before other operating costs even entered the picture. The dividend reset to $0.39 per share from $1.46 lines up with that narrower earnings capacity and helped keep cash from tightening further.

Financial Health Signals

Financial health score not available

Ready Capital Corp does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

Ready Capital Corp passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

N/A

Ready Capital Corp reported a net loss of $221.1M while generating $432.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$569.2M

YoY-36.5%

5Y CAGR+17.1%

10Y CAGR+14.3%

Ready Capital Corp generated $569.2M in revenue in fiscal year 2025. This represents a decrease of 36.5% from the prior year.

Net Income

-$221.1M

YoY+48.6%

Ready Capital Corp reported -$221.1M in net income in fiscal year 2025. This represents an increase of 48.6% from the prior year.

EPS (Diluted)

-$1.44

YoY+45.2%

Ready Capital Corp earned -$1.44 per diluted share (EPS) in fiscal year 2025. This represents an increase of 45.2% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$207.8M

YoY+44.5%

5Y CAGR+8.4%

10Y CAGR+17.5%

Ready Capital Corp held $207.8M in cash against $1.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.39

YoY-65.0%

Ready Capital Corp paid $0.39 per share in dividends in fiscal year 2025. This represents a decrease of 65.0% from the prior year.

Shares Outstanding

163M

YoY-0.2%

Ready Capital Corp had 163M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

-38.8%

YoY+9.1pp

5Y CAGR-56.2pp

10Y CAGR-66.0pp

Ready Capital Corp's net profit margin was -38.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.1 percentage points from the prior year.

Return on Equity

-14.3%

YoY+9.1pp

5Y CAGR-19.8pp

10Y CAGR-23.5pp

Ready Capital Corp's ROE was -14.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 9.1 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$67.6M

YoY-17.8%

Ready Capital Corp spent $67.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 17.8% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

RC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Revenue	$420.6M	$569.2M-36.5%	$897.0M-5.2%	$945.8M+42.6%	$663.2M+67.8%	$395.2M+52.8%	$258.6M+12.5%	$229.9M+35.6%	$169.5M+22.6%	$138.3M+0.9%	$137.0M-8.0%	$149.0M+60.3%	$92.9M	N/A	N/A
SG&A Expenses	$334.7M	$317.3M-1.6%	$322.5M+18.5%	$272.2M+174.3%	$99.2M+10.2%	$90.1M-2.0%	$91.9M+79.4%	$51.2M-9.5%	$56.6M+2.8%	$55.0M+121.7%	$24.8M+31.0%	$18.9M+48.1%	$12.8M+395.7%	$2.6M+1030.0%	$228K
Interest Expense	$417.5M	$514.1M-26.2%	$696.5M-2.8%	$716.5M+82.6%	$392.4M+92.0%	$204.4M+16.5%	$175.5M+15.5%	$151.9M+39.0%	$109.2M+46.3%	$74.6M+29.2%	$57.8M+20.8%	$47.8M+148.4%	$19.2M+171.3%	$7.1M+411.3%	$1.4M
Income Tax	-$71.5M	-$86.7M+17.0%	-$104.5M-1556.8%	$7.2M-53.6%	$15.5M+4.1%	$14.9M+77.2%	$8.4M+179.5%	-$10.6M-861.3%	$1.4M-24.6%	$1.8M-80.9%	$9.7M+23.6%	$7.8M+770.7%	$897K	$0	N/A
Net Income	-$549.1M	-$221.1M+48.6%	-$430.4M-223.5%	$348.4M+71.5%	$203.2M+27.0%	$160.0M+256.5%	$44.9M-38.5%	$73.0M+23.1%	$59.3M+36.9%	$43.3M-12.0%	$49.2M+21.8%	$40.4M+37.7%	$29.3M+288.4%	$7.6M-62.7%	$20.3M
EPS (Diluted)	-$3.44	-$1.44+45.2%	-$2.63-218.5%	$2.22+34.5%	$1.65	$2.16+166.7%	$0.81-52.9%	$1.72-6.5%	$1.84+33.3%	$1.38-25.4%	$1.85	$1.59	$3.08+234.8%	$0.92	$7.13

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$77.4M-5.3%	$81.7M-34.1%	$124.0M-9.8%	$137.5M-10.0%	$152.7M-1.4%	$155.0M-24.0%	$204.0M-10.0%	$226.5M
SG&A Expenses	$77.6M-6.2%	$82.7M-17.3%	$100.0M+34.6%	$74.3M+5.8%	$70.3M-3.2%	$72.6M-32.1%	$106.9M+52.9%	$69.9M
Interest Expense	$82.9M-14.4%	$96.8M-12.6%	$110.9M-12.7%	$127.0M-6.5%	$135.8M-3.3%	$140.5M-8.7%	$153.9M-12.3%	$175.6M
Income Tax	-$13.3M+20.3%	-$16.7M+47.3%	-$31.6M-218.3%	-$9.9M+75.1%	-$39.9M-667.0%	-$5.2M+69.9%	-$17.3M-106.1%	-$8.4M
Net Income	-$99.7M+50.2%	-$200.1M+14.0%	-$232.6M-1289.8%	-$16.7M+68.8%	-$53.7M-165.5%	$82.0M+126.0%	-$314.8M-4224.1%	-$7.3M
EPS (Diluted)	-$0.63+49.6%	-$1.25+12.6%	-$1.43-1000.0%	-$0.13+61.8%	-$0.34-173.9%	$0.46+124.5%	-$1.88	-$0.07

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

RC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RC quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Total Assets	$7.8B-23.4%	$10.1B-18.5%	$12.4B+7.1%	$11.6B+21.9%	$9.5B+77.5%	$5.4B+7.9%	$5.0B+63.9%	$3.0B+20.3%	$2.5B-3.1%	$2.6B+11.8%	$2.3B+194.0%	$792.4M+27.8%	$620.1M+207.5%	$201.6M
Cash & Equivalents	$207.8M+44.5%	$143.8M+3.8%	$138.5M-6.0%	$147.4M-23.6%	$193.0M+38.9%	$139.0M+104.6%	$67.9M+24.9%	$54.4M-14.2%	$63.4M+6.5%	$59.6M+43.3%	$41.6M-26.7%	$56.7M-74.0%	$218.1M+1044.1%	$19.1M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$8.9M+31.6%	$6.8M-6.4%	$7.2M+1087.5%	$608K	N/A	N/A	N/A
Goodwill	$49.5M0.0%	$49.5M+28.5%	$38.5M+1.9%	$37.8M+20.2%	$31.5M+180.8%	$11.2M0.0%	$11.2M	N/A	N/A	N/A	$14.2M-14.1%	$16.5M	N/A	N/A
Total Liabilities	$6.1B-25.4%	$8.2B-16.3%	$9.8B+0.7%	$9.7B+17.9%	$8.2B+81.7%	$4.5B+9.8%	$4.1B+67.1%	$2.5B+25.6%	$2.0B-4.1%	$2.1B+11.0%	$1.8B+208.8%	$599.0M+35.4%	$442.3M+224.0%	$136.5M
Long-Term Debt	$1.4B+3.2%	$1.3B+20.1%	$1.1B-0.9%	$1.1B+24.9%	$897.1M+102.6%	$442.8M+0.6%	$440.3M+30.5%	$337.3M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.5B-16.0%	$1.8B-27.6%	$2.5B+41.8%	$1.8B+40.4%	$1.3B+56.5%	$815.4M-1.2%	$825.4M+51.5%	$544.8M+1.6%	$536.1M+4.5%	$513.1M+16.3%	$441.3M+154.7%	$173.2M+8.8%	$159.2M+253.6%	$45.0M
Retained Earnings	-$807.5M-59.9%	-$505.1M-506.0%	$124.4M+2391.2%	$5.0M-41.9%	$8.6M+135.5%	-$24.2M-376.7%	$8.7M+65.9%	$5.3M+255.7%	-$3.4M-1584.1%	-$201K+96.6%	-$5.9M-165.3%	$9.0M+282.1%	-$5.0M-193.9%	$5.3M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$6.3B-0.8%	$6.3B-18.7%	$7.8B-6.7%	$8.3B-10.5%	$9.3B-6.7%	$10.0B-1.6%	$10.1B-9.9%	$11.3B
Cash & Equivalents	$124.1M-38.1%	$200.4M-3.6%	$207.8M+40.9%	$147.5M-9.5%	$162.9M-20.9%	$205.9M+43.2%	$143.8M-20.7%	$181.3M
Goodwill	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M+2.3%	$48.4M
Total Liabilities	$4.9B+1.0%	$4.9B-20.5%	$6.1B-5.1%	$6.4B-12.6%	$7.4B-7.0%	$7.9B-3.3%	$8.2B-8.0%	$8.9B
Long-Term Debt	$1.2B-5.3%	$1.3B-8.3%	$1.4B-0.9%	$1.4B+0.1%	$1.4B-6.8%	$1.5B+11.7%	$1.3B+10.5%	$1.2B
Total Equity	$1.2B-7.5%	$1.3B-13.2%	$1.5B-13.0%	$1.8B-2.9%	$1.8B-5.9%	$1.9B+5.6%	$1.8B-17.7%	$2.2B
Retained Earnings	-$1.1B-10.4%	-$1.0B-25.4%	-$807.5M-41.7%	-$569.7M-7.8%	-$528.5M-17.4%	-$450.3M+10.9%	-$505.1M-245.9%	-$146.0M

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.

RC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Operating Cash Flow	$1.1B	$432.1M+57.2%	$274.8M+437.5%	$51.1M-85.8%	$359.1M+1142.8%	-$34.4M-150.0%	$68.9M+231.5%	-$52.4M-137.3%	$140.3M-60.2%	$352.5M+2038.6%	$16.5M-42.2%	$28.5M+111.1%	-$256.5M-3254.3%	$8.1M+209.4%	$2.6M
Investing Cash Flow	$1.8B	$1.6B+7.0%	$1.5B+50.6%	$1.0B+165.5%	-$1.6B+9.4%	-$1.7B-2790.9%	-$59.4M+95.1%	-$1.2B-108.8%	-$580.8M-146.4%	-$235.7M-160.5%	$389.6M	N/A	N/A	N/A	N/A
Financing Cash Flow	-$2.9B	-$2.0B-8.4%	-$1.9B-73.2%	-$1.1B-192.7%	$1.2B-37.6%	$1.9B+2874.9%	$63.1M-95.1%	$1.3B+192.1%	$444.5M+517.3%	-$106.5M+72.1%	-$381.4M-363.8%	$144.6M	N/A	N/A	N/A
Dividends Paid	$52.8M	$113.3M-45.0%	$206.1M-4.2%	$215.1M+14.5%	$187.8M+67.8%	$111.9M+96.8%	$56.9M-10.2%	$63.3M+23.4%	$51.3M+6.3%	$48.3M+3.0%	$46.9M+31.6%	$35.6M+105.6%	$17.3M	N/A	N/A
Share Buybacks	$12.4M	$67.6M-17.8%	$82.3M+354.2%	$18.1M-51.0%	$37.0M	N/A	$9.2M	N/A	N/A	N/A	$1K	N/A	N/A	N/A	$14.2M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$75.1M-87.3%	$590.2M+5584.0%	-$10.8M-102.5%	$434.7M+533.5%	-$100.3M-192.4%	$108.5M+272.0%	$29.2M-86.8%	$221.1M
Investing Cash Flow	$275.7M-58.8%	$668.9M+85.8%	$360.1M-27.0%	$493.4M+2.4%	$481.8M+56.8%	$307.3M-42.8%	$537.0M+43.9%	$373.0M
Financing Cash Flow	-$414.2M+67.3%	-$1.3B-330.7%	-$294.3M+69.2%	-$956.1M-121.2%	-$432.3M-21.8%	-$355.0M+41.6%	-$607.9M+5.7%	-$645.0M
Dividends Paid	$3.7M+2.0%	$3.6M-84.0%	$22.6M-1.0%	$22.8M-4.3%	$23.8M-45.9%	$44.0M-1.3%	$44.6M-17.8%	$54.3M
Share Buybacks	$0	$0-100.0%	$1.9M-82.3%	$10.6M-72.0%	$37.7M+116.9%	$17.4M-59.6%	$43.1M	$0

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

RC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

RC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Net Margin	-38.8%+9.1pp	-48.0%-84.8pp	36.8%+6.2pp	30.6%-9.8pp	40.5%+23.1pp	17.3%-14.4pp	31.7%-3.2pp	35.0%+3.7pp	31.3%-4.6pp	35.9%+8.8pp	27.1%-4.4pp	31.6%	N/A	N/A
Return on Equity	-14.3%+9.1pp	-23.4%-37.1pp	13.7%+2.4pp	11.3%-1.2pp	12.5%+7.0pp	5.5%-3.3pp	8.8%-2.0pp	10.9%+2.8pp	8.1%-1.5pp	9.6%+0.4pp	9.2%-7.8pp	16.9%+12.2pp	4.7%-40.3pp	45.0%
Return on Assets	-2.9%+1.4pp	-4.2%-7.0pp	2.8%+1.0pp	1.8%+0.1pp	1.7%+0.8pp	0.8%-0.6pp	1.5%-0.5pp	1.9%+0.2pp	1.7%-0.2pp	1.9%+0.2pp	1.7%-2.0pp	3.7%+2.5pp	1.2%-8.8pp	10.1%
Debt-to-Equity	0.89+0.2x	0.73+0.3x	0.44-0.2x	0.63-0.1x	0.70+0.2x	0.540.0x	0.53-0.1x	0.62-3.1x	3.67-0.3x	4.00-0.2x	4.19+0.7x	3.46+0.7x	2.78-0.3x	3.03

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	-128.8%	-244.8%	-187.6%	-12.2%+23.0pp	-35.1%-88.0pp	52.9%	-154.3%	-3.2%
Return on Equity	-8.0%+6.9pp	-14.9%+0.1pp	-15.1%-14.1pp	-0.9%+2.0pp	-2.9%-7.2pp	4.2%+21.3pp	-17.1%-16.8pp	-0.3%
Return on Assets	-1.6%+1.6pp	-3.2%-0.2pp	-3.0%-2.8pp	-0.2%+0.4pp	-0.6%-1.4pp	0.8%+3.9pp	-3.1%-3.0pp	-0.1%
Debt-to-Equity	0.960.0x	0.94+0.1x	0.89+0.1x	0.780.0x	0.760.0x	0.770.0x	0.73+0.2x	0.54

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

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

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Where Ready Capital Corp Ranks

Frequently Asked Questions

What is Ready Capital Corp's annual revenue?

Ready Capital Corp (RC) reported $569.2M in total revenue for fiscal year 2025. This represents a -36.5% 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 Ready Capital Corp's revenue growing?

Ready Capital Corp (RC) revenue declined by 36.5% year-over-year, from $897.0M to $569.2M in fiscal year 2025.

Is Ready Capital Corp profitable?

No, Ready Capital Corp (RC) reported a net income of -$221.1M in fiscal year 2025, with a net profit margin of -38.8%.

How much debt does Ready Capital Corp have?

As of fiscal year 2025, Ready Capital Corp (RC) had $207.8M in cash and equivalents against $1.4B in long-term debt.

What is Ready Capital Corp's net profit margin?

Ready Capital Corp (RC) had a net profit margin of -38.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Ready Capital Corp pay dividends?

Yes, Ready Capital Corp (RC) paid $0.39 per share in dividends during fiscal year 2025.

What is Ready Capital Corp's return on equity (ROE)?

Ready Capital Corp (RC) has a return on equity of -14.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ready Capital Corp's operating cash flow?

Ready Capital Corp (RC) generated $432.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ready Capital Corp's total assets?

Ready Capital Corp (RC) had $7.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Ready Capital Corp buy back shares?

Yes, Ready Capital Corp (RC) spent $67.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Ready Capital Corp have outstanding?

Ready Capital Corp (RC) had 163M shares outstanding as of fiscal year 2025.

What is Ready Capital Corp's debt-to-equity ratio?

Ready Capital Corp (RC) had a debt-to-equity ratio of 0.89 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ready Capital Corp's return on assets (ROA)?

Ready Capital Corp (RC) had a return on assets of -2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ready Capital Corp's Piotroski F-Score?

Ready Capital Corp (RC) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Ready Capital Corp's earnings high quality?

Ready Capital Corp (RC) reported a net loss of $221.1M while generating $432.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.