Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RCD SEC filings page.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) reported $101.7M in revenue for fiscal year 2025, up 3.0% from the prior fiscal year. 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).
The balance-sheet-driven business is shrinking, while debt remains material and cash generation diverges from reported losses.
In FY2025, operating cash flow of$432M coexisted with a net loss of$229M , so the reported loss did not represent an equivalent operating cash drain. The same split appeared in FY2024, when cash flow was$275M against a loss of$436M , making accounting earnings a poor standalone guide to cash movement.
Assets fell from
Revenue grew
Financial Health Signals
We do not publish a peer-relative financial health score for Ready Capital Corporation 9.00% Senior Notes due 2029, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Ready Capital Corporation 9.00% Senior Notes due 2029 passes 5 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, the one computable operating efficiency signal (asset turnover improving) passes.
Ready Capital Corporation 9.00% Senior Notes due 2029 reported a net loss of $228.9M 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
Earnings & Revenue
Ready Capital Corporation 9.00% Senior Notes due 2029 generated $77.4M in revenue in Q2 2026. This represents a decrease of 49.3% from the same quarter a year earlier. Against the prior quarter it is down 5.3%.
Ready Capital Corporation 9.00% Senior Notes due 2029 reported a net loss of $101.5M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Ready Capital Corporation 9.00% Senior Notes due 2029 earned -$0.63 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Ready Capital Corporation 9.00% Senior Notes due 2029 held $124.1M in cash against $1.2B in long-term debt as of Q2 2026.
Ready Capital Corporation 9.00% Senior Notes due 2029 paid $0.01 per share in dividends in Q2 2026. This represents a decrease of 92.0% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Ready Capital Corporation 9.00% Senior Notes due 2029's quarterly ROE was -8.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 5.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Ready Capital Corporation 9.00% Senior Notes due 2029 repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Not reported for Q2 2026.
RCD 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $77.4M-49.3% | $81.7M+103.1% | N/A | $85.4M-20.3% | $152.7M-34.8% | $40.2M-82.7% | N/A | $107.2M+7.6% |
| Interest Expense | $82.9M-39.0% | $96.8M-31.1% | N/A | $127.0M-27.7% | $135.8M-25.8% | $140.5M-23.6% | N/A | $175.6M-7.5% |
| Income Tax | -$13.3Mn/m | -$16.7Mn/m | N/A | -$9.9Mn/m | -$39.9Mn/m | -$5.2Mn/m | N/A | -$8.4M-399.3% |
| Net Income | -$101.5Mn/m | -$201.7M-353.7% | N/A | -$18.7Mn/m | -$55.5Mn/m | $79.5Mn/m | N/A | -$9.3M-120.4% |
| EPS (Basic) | -$0.63n/m | -$1.25-366.0% | -$1.43n/m | -$0.13n/m | -$0.34n/m | $0.47n/m | -$1.88n/m | -$0.07-128.0% |
| EPS (Diluted) | -$0.63n/m | -$1.25-371.7% | -$1.43n/m | -$0.13n/m | -$0.34n/m | $0.46n/m | -$1.88n/m | -$0.07-128.0% |
| Diluted Shares (Avg) | 173M+1.2% | 168M0.0% | N/A | 166M-2.1% | 171M+0.5% | 168M-3.1% | N/A | 170M-2.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
RCD 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.3B-32.7% | $6.3B-36.7% | $7.8B-23.4% | $8.3B-26.0% | $9.3B-20.9% | $10.0B-17.2% | $10.1B-18.5% | $11.3B-12.1% |
| Cash & Equivalents | $124.1M-23.8% | $200.4M-2.7% | $207.8M+44.5% | $147.5M-18.6% | $162.9M-28.0% | $205.9M+24.0% | $143.8M+3.8% | $181.3M+9.4% |
| Goodwill | $49.5M0.0% | $49.5M0.0% | $49.5M0.0% | $49.5M+2.3% | $49.5M+0.8% | $49.5M+28.5% | $49.5M+28.5% | $48.4M+28.0% |
| Total Liabilities | $4.9B-33.4% | $4.9B-38.6% | $6.1B-25.4% | $6.4B-27.7% | $7.4B-21.3% | $7.9B-16.9% | $8.2B-16.3% | $8.9B-11.7% |
| Long-Term Debt | $1.2B-13.9% | $1.3B-15.3% | $1.4B+3.2% | $1.4B+15.1% | $1.4B+17.1% | $1.5B+33.9% | $1.3B+20.1% | $1.2B+8.8% |
| Total Equity | $1.2B-32.2% | $1.3B-31.0% | $1.5B-16.0% | $1.8B-20.5% | $1.8B-20.3% | $1.9B-19.2% | $1.8B-27.6% | $2.2B-13.8% |
| Retained Earnings | -$1.1Bn/m | -$1.0Bn/m | -$807.5Mn/m | -$569.7Mn/m | -$528.5Mn/m | -$450.3Mn/m | -$505.1M-506.0% | -$146.0M-186.6% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
RCD 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $75.1Mn/m | $590.2M+444.1% | -$10.8M-136.9% | $434.7M+96.6% | -$100.3M-9586.0% | $108.5M+362.6% | $29.2Mn/m | $221.1M+407.9% |
| Depreciation & Amortization | $1.6Mn/m | $1.6Mn/m | $1.7Mn/m | $1.1Mn/m | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $2.5M+56.3% | $1.6M-8.7% | N/A | $1.6M-11.1% | $1.6M-15.8% | $1.8M-5.8% | N/A | $1.8M-21.7% |
| Investing Cash Flow | $275.7M-42.8% | $668.9M+117.7% | $360.1M-32.9% | $493.4M+32.3% | $481.8M+50.5% | $307.3M+0.8% | $537.0M+25.1% | $373.0M+45.4% |
| Financing Cash Flow | -$414.2Mn/m | -$1.3Bn/m | -$294.3Mn/m | -$956.1Mn/m | -$432.3Mn/m | -$355.0Mn/m | -$607.9Mn/m | -$645.0Mn/m |
| Dividends Paid | $3.7M-84.5% | $3.6M-91.8% | $22.6M-49.3% | $22.8M-57.9% | $23.8M-54.8% | $44.0M-19.1% | $44.6M-31.1% | $54.3M+105.8% |
| Share Buybacks | $0-100.0% | $0-100.0% | $1.9M-95.6% | $10.6Mn/m | $37.7M+87.4% | $17.4M-8.6% | $43.1Mn/m | $0-100.0% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
RCD 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -131.2% | -246.8% | N/A | -21.9%-13.3pp | -36.3%-20.9pp | 197.6% | N/A | -8.7%-54.5pp |
| Return on Equity | -8.2%-5.2pp | -15.1%-19.1pp | N/A | -1.1%-0.6pp | -3.0%-1.5pp | 4.1%+7.2pp | N/A | -0.4%-2.2pp |
| Return on Assets | -1.6%-1.0pp | -3.2%-4.0pp | N/A | -0.2%-0.1pp | -0.6%-0.3pp | 0.8%+1.4pp | N/A | -0.1%-0.4pp |
| Debt-to-Equity | 0.96+0.2x | 0.94+0.2x | 0.89+0.2x | 0.78+0.2x | 0.76+0.2x | 0.77+0.3x | 0.73+0.3x | 0.54+0.1x |
| Liabilities-to-Equity | 3.97-0.1x | 3.63-0.5x | 3.96-0.5x | 3.63-0.4x | 4.04-0.1x | 4.08+0.1x | 4.46+0.6x | 3.99+0.1x |
| Asset Turnover | 0.010.0x | 0.010.0x | N/A | 0.010.0x | 0.020.0x | 0.000.0x | N/A | 0.010.0x |
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.
Where Ready Capital Corporation 9.00% Senior Notes due 2029 Ranks
Frequently Asked Questions
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) reported $101.7M in total revenue for fiscal year 2025. This represents a 3.0% 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.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) revenue grew by 3.0% year-over-year, from $98.8M to $101.7M in fiscal year 2025.
No, Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) reported a net loss of $228.9M in fiscal year 2025.
As of fiscal year 2025, Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) had $207.8M in cash and equivalents against $1.4B in long-term debt.
Yes, Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) paid $0.39 per share in dividends during fiscal year 2025.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) has a return on equity of -14.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) generated $432.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) had $7.8B in total assets as of fiscal year 2025, including both current and long-term assets.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) had a debt-to-equity ratio of 0.89 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) had a liabilities-to-equity ratio of 3.96 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) had a return on assets of -2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) has a Piotroski F-Score of 5 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.
Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD) reported a net loss of $228.9M 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.