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Ellington Credit Company

EARN Financial Asset Management

Ellington Credit Company’s revenue for fiscal 2024 (year ended December 2024) was $49.9 million, up 17.2% from fiscal 2023. In the quarter to December 2024, revenue grew 8.08%, EPS fell 109.3% and free cash flow grew 293.8%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for five.

3.46 0.13 +3.90%
Market cap
$127.1M
P/E
11.5×
Fwd P/E
13.0×
Dividend yield
30.1%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 127.11
Revenue 49.86
Net Income 3.96
Free Cash Flow 7.91
Net Debt 508.13
Current Ratio 0.14
Debt/Equity 2.91
P/E ratio 11.53
Fwd P/E 13.00
P/S ratio 1.64
P/B ratio 0.42
Past 5Y EPS Growth —
This Y EPS Growth (3.12%) (below 0%: weak)
Next Y EPS Growth 9.87%
Next Y revenue growth (16.37%) (below 0%: weak)
Next 5Y EPS Growth (4.88%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 33.63%
10-year low 10-year high
P/S against its own 10 years 0.66%
10-year low 10-year high
P/B against its own 10 years 0.52%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 1.04
Annual Dividend Yield 30.06%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.96
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2025 0.96
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2024 0.96
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2023 0.96
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2022 1.04
0.10
0.10
0.10
0.10
0.08
0.08
0.08
0.08
0.08
0.08
0.08
0.08
2021 1.18
0.28
0.30
0.30
0.10
0.10
0.10
2020 1.12
0.28
0.28
0.28
0.28
2019 1.18
0.34
0.28
0.28
0.28
2018 1.45
0.37
0.37
0.37
0.34
2017 1.57
0.40
0.40
0.40
0.37
2016 1.65
0.45
0.40
0.40
0.40
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2021 2022 2023 2024
Cash 187 35 39 55
Receivables 5 37 56 22
Inventory — — — —
Other — — — —
191 72 94 76
2021 2022 2023 2024
Payables — — — —
ST’ Debt 1,065 842 730 563
Other — — — —
1,066 844 731 564

Compound Annual Growth %

10y 5y 3y
Sales 0.63% 2.61% 20.69%
Cash Flow (8.12%) (12.27%) (31.12%)
Earnings (8.59%) (21.61%) 0.00%
Book Value 1.72% 3.79% 7.90%

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’24 10 14 13 13 50
’23 9 10 11 12 43
’22 7 9 9 10 35
’21 7 10 5 6 28
’20 10 3 8 6 27
’19 13 12 10 9 44
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’24 (1) 1 3 4 9
’23 (2) (4) (3) (2) (10)
’22 7 14 4 4 22
’21 7 15 7 6 28
’20 6 9 8 8 24
’19 5 9 4 4 18
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’24 (1) 1 3 4 9
’23 (2) (4) (3) (2) (10)
’22 7 14 4 4 22
’21 7 15 7 6 28
’20 6 9 8 8 24
’19 5 9 4 4 18
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 — — — — —
’24 0.20 (0.04) 0.21 (0.07) 0.28
’23 0.17 0.09 (0.75) 0.75 0.31
’22 (1.33) (0.82) (1.04) 0.88 (2.29)
’21 0.01 (0.36) 0.07 (0.21) (0.50)
’20 (1.35) 1.73 0.66 0.60 1.63
’19 0.72 (0.01) 0.30 0.78 1.79
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Trend 2025e 2026e 2027e
Price, $
Price, $ Low — 9.57 12.01 10.14 9.68 2.70 9.81 5.70 5.09 5.54

Analyst estimates 2025–2027

Powerpack
High — 14.43 15.74 12.13 12.14 13.30 13.92 11.07 8.15 7.26
People
People Employees — 160 160 150 150 150 170 170 170 160
Revenue/emp, $m — 0.21 0.31 0.36 0.29 0.18 0.17 0.21 0.25 0.31
Income, $m
Income, $m Revenue — 33 49 55 44 27 28 35 43 50
Gross margin, % — 92.57 93.94 94.79 93.93 90.19 90.20 93.83 94.86 94.17
EBT — 12 11 (11) 22 20 (6) (30) 5 7
EBT margin, % — 35.54 21.93 (20.70) 50.76 73.62 (22.24) (86.27) 10.71 14.23
Net income — 12 11 (11) 22 20 (6) (30) 5 7
Depreciation — 16 9 10 15 14 8 2 1 4
Per share, $
Per share, $ Revenue — 3.67 4.24 4.26 3.52 2.21 2.24 2.66 2.86 2.11
Earnings — 1.31 0.93 (0.88) 1.79 1.63 (0.50) (2.29) 0.31 0.28
Cash flow — 2.18 2.97 2.25 1.41 1.97 2.20 1.70 (0.67) 0.39
Capex — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow — 2.18 2.97 2.25 1.41 1.97 2.20 1.70 (0.67) 0.39
Book value — 15.53 16.61 12.01 12.91 13.47 12.16 8.54 9.16 8.22
Shares, m — 9 12 13 12 12 13 13 15 24
Valuation, ×
Valuation, × P/E — 10.13 13.02 0.00 6.06 7.95 0.00 0.00 23.27 22.07
P/S — 3.59 2.80 2.40 3.08 5.90 4.65 2.64 2.12 3.13
P/B — 0.85 0.71 0.85 0.84 0.97 0.85 0.82 0.66 0.81
EV/Sales — 36.11 32.47 29.21 31.79 40.93 35.61 25.69 18.36 13.32
EV/FCF — 39.32 24.55 42.65 62.54 37.36 29.24 30.69 (62.96) 84.00
Cash, $m
Cash, $m Operating cash flow — 20 34 29 18 24 28 22 (10) 9
Capex — — — — — — — — — —
Free cash flow — 20 34 29 18 24 28 22 (10) 9
Balance, $m
Balance, $m Working capital — (1,052) (1,433) (1,384) (1,249) (954) (875) (771) (637) (488)
Total debt — 1,198 1,597 1,482 1,296 1,015 1,065 842 730 563
Net debt — 1,089 1,460 1,463 1,259 957 878 807 691 508
Shareholders’ equity — 142 193 154 161 166 154 112 136 194
Returns, %
Returns, % ROA — 0.80 0.65 (0.63) 1.41 1.50 (0.45) (2.28) 0.46 0.74
ROIC — 0.98 0.92 0.64 0.14 0.64 1.20 1.02 (0.62) 0.56
ROE — 8.31 6.45 (6.52) 14.15 12.29 (3.94) (22.65) 3.67 3.99
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2024 · latest quarter Dec 2024

Charts ten years each

Ellington Credit Company vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WHG Westwood Holdings Group Inc $181.4M 20.0× — (loss-making) +9.62% (above 0%: growing) +50.00% (above 0%: growing) −58.51% (below 0%: shrinking) 100.00% 8.14% Compare
NSLR Neostellar Capital Corp. $181.1M 1.3× 2.9× +79.14% (above 0%: growing) n/m −171.41% (below 0%: shrinking) 100.00% (7,413.51%) Compare
WHF WhiteHorse Finance, Inc. $164.5M 9.6× 8.9× −23.72% (below 0%: shrinking) +380.00% (above 0%: growing) −159.82% (below 0%: shrinking) 100.00% 66.34% Compare
SPMC Sound Point Meridian Capital, Inc. $147.8M — (loss-making) — — +76.60% (above 0%: growing) — — — Compare
HSDT Solana Company $142.7M — (loss-making) — (loss-making) +5,774.42% (above 0%: growing) n/m −331.34% (below 0%: shrinking) 96.95% (1,293.47%) Compare
DFDV DeFi Development Corp. $135.7M — (loss-making) — (loss-making) +66.87% (above 0%: growing) n/m +110.69% (above 0%: growing) 99.37% (689.20%) Compare
EARN Ellington Credit Company $127.1M 11.5× 13.0× +8.08% (above 0%: growing) n/m +293.76% (above 0%: growing) 93.62% 30.14%
SAMG Silvercrest Asset Management Group Inc. $126.3M 96.3× 22.0× +0.36% (above 0%: growing) −90.48% (below 0%: shrinking) +0.46% (above 0%: growing) 100.00% 3.11% Compare
ZSTK ZeroStack Corp. $92.1M — (loss-making) — (loss-making) +40.67% (above 0%: growing) n/m +146.50% (above 0%: growing) 11.85% (177.43%) Compare
Median of peers $145.3M 14.8× 8.9× +40.67% +63.30% −58.51% 100.00% (177.43%)

All 120 Asset Management stocks →

Ellington Credit Company (EARN) key facts

  • Strength: Ellington Credit Company’s revenue for fiscal 2024 (year ended December 2024) was $49.9 million, up 17.2% from fiscal 2023.
  • Ellington Credit Company (EARN) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, EARN traded at $3.46, a market capitalization of $127.1 million.
  • Ellington Credit Company pays an annual dividend of $1.04 per share, a yield of 30.1%.
  • Return on equity was 3.99% and debt-to-equity 2.91.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2024.

Source: company filings (standardised) and stockrow calculations.

Ellington Credit Company (EARN) Latest News

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stockrow.com/EARN · Data as of Dec 31, 2024 · For information only; not investment advice. · © 2026 stockrow.com