Monday 2 November 2026 Export EFC’s income statement to Excel — free account

Ellington Financial Inc.

Ellington Financial Inc.’s revenue for fiscal 2025 (year ended December 2025) was $494.5 million, up 18.9% from fiscal 2024.

Revenue: +48.0%
EPS: −4.44%
Free cash flow: +108.9%
Total debt: +23.7%

Quarter to June 2026, against a year earlier

Revenue growth 5 yrs

11.52 0.11 +0.96%

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Market cap: $1.5B
P/E: 7.0×
Fwd P/E: 5.6×
Dividend yield: 13.5%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Size

Market Cap 1,470.00

Revenue ttm 583.45

Net income ttm 150.77

Free cash flow ttm (546.53)

Net debt Q 17,216.84

Valuation

P/E 7.02

Forward P/E 5.58

Price / sales 2.48

Forward P/S Powerpack

Price / FCF 0.00

Price / book 0.81

Financial health

Current ratio Q 52.06

Debt / equity Q 9.37

Interest coverage Q 2.17

Growth

Revenue growth Q +47.95%

Operating income growth Q +35.31%

EPS, this year +12.07%

EPS, next year A −5.07%

Revenue, next year A +37.74%

EPS, past 5 yrs +25.00%

EPS, next 5 yrs A +1.76%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 13.41%

10-year low 10-year high

P/S against its own 10 years 8.08%

10-year low 10-year high

P/B against its own 10 years 41.30%

10-year low 10-year high

EV/Sales against its own 10 years 64.90%

10-year low 10-year high

Dividends

Yield: 13.5%
Annual rate: 1.56
Payout ratio: 95.1%
Growth, 2016–25: −2.45%/yr

1.95 ’16
1.76 ’17 −10%
1.64 ’18 −7%
1.81 ’19 +10%
1.26 ’20 −30%
1.64 ’21 +30%
1.80 ’22 +10%
1.80 ’23 +0%
1.60 ’24 −11%
1.56 ’25 −3%
1.56 ’26e +0%

paid forecast Powerpack

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,749	1,171	1,373	1,521
Receivables	532	22	36	250
Inventory	—	—	—	—
Other	—	—	—	—
	14,620	15,229	18,088	19,685

	2023	2024	2025	Q'26
Payables	68	61	55	68
ST’ Debt	154	294	273	252
Other	—	—	—	—
	313	393	383	378

Compound Annual Growth %

	10y	5y	3y
Sales	16.81%	23.30%	20.56%
Cash Flow	0.00%	0.00%	0.00%
Earnings	12.04%	47.10%	0.00%
Book Value	9.74%	15.22%	15.30%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.46 Actual 0.60

0.37 0.44 0.50 0.57 0.63

Q2 FY25 Beat +0.07

Q3 FY25 Beat +0.09

Q1 FY26 Beat +0.13

Q2 FY26 Beat +0.14

Q3 FY26 — Nov 4

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q2 FY25	0.40	0.47	Beat by 0.07
Q3 FY25	0.44	0.53	Beat by 0.09
Q1 FY26	0.42	0.55	Beat by 0.13
Q2 FY26	0.46	0.60	Beat by 0.14
Q3 FY26	0.48	—	Reports 4 November 2026

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.78	0.43	—	—	—
’25	0.35	0.45	0.29	0.14	1.19
’24	0.32	0.62	0.19	0.25	1.36
’23	0.58	0.04	0.10	0.18	0.90
’22	(0.17)	(1.08)	(0.55)	0.37	(1.43)
’21	0.86	0.75	0.41	0.61	2.58
’20	(3.04)	0.84	1.06	1.44	0.39

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	150	171	—	—	—
’25	116	115	123	140	494
’24	102	100	107	107	416
’23	87	88	96	99	370
’22	51	63	79	90	282
’21	40	46	40	49	176
’20	52	39	43	39	174

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(10)	(19)	—	—	—
’25	(126)	(211)	(290)	(298)	(925)
’24	(59)	(89)	(142)	(141)	(431)
’23	(49)	(43)	(71)	(79)	(242)
’22	33	48	(11)	(28)	43
’21	9	35	15	(8)	51
’20	29	38	16	37	120

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	6	16	—	—	—
’25	(116)	(183)	(273)	(296)	(867)
’24	(46)	(81)	(126)	(136)	(389)
’23	(36)	(37)	(66)	(66)	(205)
’22	33	53	(11)	(22)	53
’21	9	34	15	7	65
’20	36	38	16	39	129

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Jun ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	80	94	135	160	174	176	282	370	416	494	583		+22.4%	681	759	681	+11.3%
	Gross margin, %	87.45	90.36	93.86	94.93	93.37	83.43	94.03	94.48	94.36	94.86	95.29		+7.4 pt	Powerpack Ellington Financial Inc.’s next three years, line by line Analysts expect revenue to grow 11.3% a year to 2028 — slower than the 22.4% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(16)	36	50	55	2	86	(25)	89	116	98	170		n/m
	EBT margin, %	(19.58)	38.28	36.96	34.10	1.05	48.77	(8.85)	24.10	27.95	19.80	29.05		+39.4 pt
	Net income	(16)	36	50	63	28	141	(71)	88	148	151	151		n/m
Per share, $
Per share, $	Revenue	2.45	2.93	4.46	4.99	3.99	3.62	4.72	5.42	4.79	4.97	4.64		+8.2%
	Earnings	(0.48)	1.04	1.52	1.76	0.39	2.58	(1.43)	0.90	1.36	1.19	1.64		n/m
	Cash flow	2.13	(14.44)	(16.31)	2.47	2.75	1.06	0.71	(3.54)	(4.96)	(9.31)	(4.92)		n/m
	Capex	0.00	0.00	0.00	0.74	0.22	0.28	0.18	0.54	0.47	0.59	0.57		n/m
	Free cash flow	2.13	(14.44)	(16.31)	3.21	2.97	1.33	0.89	(3.00)	(4.48)	(8.72)	(4.35)		n/m
	Book value	19.68	19.37	19.64	27.09	21.19	27.27	20.40	22.50	18.32	18.82	15.91		(0.5%)
	Shares, m	33	32	30	32	43	49	60	68	87	99	112		+13.1%
Valuation, ×
Valuation, ×	P/E	0.00	13.82	10.15	10.24	47.87	6.50	0.00	13.92	8.78	11.04	7.02		12.2
	P/S	6.40	4.95	3.44	3.68	3.72	4.73	2.67	2.31	2.53	2.73	2.48		3.7
	P/B	0.80	0.75	0.78	0.78	0.80	0.76	0.76	0.72	0.84	0.88	0.81		0.8
	EV/Sales	18.05	20.16	17.89	8.84	8.34	13.71	41.40	34.02	34.56	34.81	31.99		23.2
	EV/FCF	20.76	(4.09)	(4.89)	13.72	11.19	37.19	218.91	(61.41)	(36.93)	(19.86)	(34.15)		17.5
Cash, $m
Cash, $m	Operating cash flow	70	(463)	(494)	79	120	51	43	(242)	(431)	(925)	(618)		n/m
	Capex	—	—	—	24	10	13	11	37	41	59	71		+16.2%
	Free cash flow	70	(463)	(494)	103	129	65	53	(205)	(389)	(867)	(547)		n/m
Balance, $m
Balance, $m	Working capital	556	448	389	4,052	3,126	4,660	13,173	14,307	14,836	17,705	19,307		+46.9%
	Net debt	934	1,429	1,951	826	801	1,577	10,932	11,739	13,327	15,863	17,217		+37.0%
	Shareholders’ equity	645	621	595	869	922	1,324	1,221	1,536	1,591	1,871	1,999		+12.6%
Returns, %
Returns, %	ROA	(0.59)	1.26	1.34	1.39	0.44	2.96	(0.89)	0.41	0.74	0.67	1.02		+1.3 pt
	ROIC	2.06	2.02	2.45	6.03	3.18	3.48	0.95	2.44	2.35	2.17	2.52		+0.1 pt
	ROE	(2.31)	5.37	7.68	8.54	2.20	13.33	(8.17)	5.60	9.66	8.49	12.37		+10.8 pt
People
People	Employees	160	160	150	150	150	170	170	170	160	170	—		+0.7%
	Revenue/emp, $m	0.50	0.59	0.90	1.07	1.16	1.03	1.66	2.18	2.60	2.91	—		+21.6%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
DX Dynex Capital, Inc.	$2.8B	4.0×	— (loss-making)	+170.93% (above 0%: growing)	n/m	+163.96% (above 0%: growing)	100.00%	94.64%	Compare
ARR ARMOUR Residential REIT, Inc.	$1.9B	3.3×	— (loss-making)	+45.88% (above 0%: growing)	n/m	+741.92% (above 0%: growing)	100.00%	93.50%	Compare
BXMT Blackstone Mortgage Trust, Inc.	$1.8B	122×	— (loss-making)	−3.29% (below 0%: shrinking)	n/m	+3.93% (above 0%: growing)	78.86%	71.19%	Compare
EFC Ellington Financial Inc.	$1.5B	7.0×	5.6×	+47.95% (above 0%: growing)	−4.44% (below 0%: shrinking)	+108.89% (above 0%: growing)	95.69%	125.46%
LADR Ladder Capital Corp	$1.2B	21.8×	12.9×	+4.91% (above 0%: growing)	−14.29% (below 0%: shrinking)	−9.50% (below 0%: shrinking)	100.00%	60.88%	Compare
ORC Orchid Island Capital, Inc.	$926.4M	3.2×	— (loss-making)	+77.91% (above 0%: growing)	n/m	+342.48% (above 0%: growing)	100.00%	117.80%	Compare
CIM Chimera Investment Corporation	$694.8M	— (loss-making)	— (loss-making)	+10.10% (above 0%: growing)	n/m	−4,466.16% (below 0%: shrinking)	100.00%	1.81%	Compare
MFA MFA Financial, Inc.	$673.3M	6.5×	7.3×	+4.48% (above 0%: growing)	+59.09% (above 0%: growing)	+162.56% (above 0%: growing)	100.00%	78.90%	Compare
ARI Apollo Commercial Real Estate Finance	$299.5M	2.9×	10.2×	−37.40% (below 0%: shrinking)	−8.33% (below 0%: shrinking)	−20.13% (below 0%: shrinking)	91.99%	16.46%	Compare
Median of peers	$1.0B	4.0×	10.2×	+7.51%	−8.33%	+83.24%	100.00%	75.05%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 9 April 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	0.00	0.00	167.05
2024	0.00	0.00	119.53
2023	0.00	0.00	109.94
2022	0.00	0.00	93.05
2021	0.00	0.00	113.92

Ownership

Directors and executive officers, together 3.20%

Blackrock, Inc. 13.20%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement