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Ready Capital Corp

RC Real Estate Reit Mortgage

Ready Capital Corp’s revenue for fiscal 2025 (year ended December 2025) was $569.2 million, down 36.5% from fiscal 2024.

Revenue
−49.3%
EPS
−85.3%
Free cash flow
+231.2%
Total debt
−37.2%

Quarter to June 2026, against a year earlier

0.94 0.13 −12.15%
Market cap
$176.8M
P/E
0.0×
Fwd P/E
−0.4×
Dividend yield
3.67%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.08
Sold, $m 0.01
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 10.95%

Capital & Financial Ratios $m

Size
Market Cap 176.76
Revenue ttm 420.60
Net income ttm (549.12)
Free cash flow ttm 1,249.31
Net debt Q 2,896.67
Valuation
P/E 0.00
Forward P/E (0.42) (negative: loss-making)
Price / sales 0.43
Forward P/S Powerpack
Price / FCF 0.14
Price / book 0.15
Financial health
Current ratio Q 1.91
Debt / equity Q 2.29
Interest coverage Q 0.95
Growth
Revenue growth Q −49.32% (below 0%: shrinking)
Operating income growth Q −48.44% (below 0%: shrinking)
EPS, this year −29.87% (below 0%: weak)
EPS, next year A +63.28% (at or above 15%: strong)
Revenue, next year A −39.70% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +64.44% (at or above 15%: strong)

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
EV/Sales is 7.3×, against a ten-year median of 7.9×; over the ten years it ranged from 2.1× in 2016 to 12.1× in 2021.
P/S against its own 10 years 0.37%
10-year low 10-year high
P/B against its own 10 years 0.37%
10-year low 10-year high
EV/Sales against its own 10 years 40.26%
10-year low 10-year high
EV/FCF against its own 10 years 0.39%
10-year low 10-year high

Dividends

Yield
3.67%
Annual rate
0.04
Payout ratio
—
Growth, 2017–25
−15.5%/yr
  1. 1.48 ’17
  2. 1.57 ’18 +6
  3. 1.60 ’19 +2
  4. 1.30 ’20 −19
  5. 1.56 ’21 +20
  6. 1.66 ’22 +6
  7. 1.20 ’23 −28
  8. 1.10 ’24 −8
  9. 0.39 ’25 −65
  10. 0.04 ’26e −90
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 169 174 248 174
Receivables — — — —
Inventory — — — —
Other — — — —
4,298 3,825 4,368 3,894
2023 2024 2025 Q'26
Payables 207 188 172 166
ST’ Debt 2,102 2,035 2,789 1,877
Other — — — —
2,310 2,223 2,961 2,042

Compound Annual Growth %

10y 5y 3y
Sales 14.35% 17.09% (4.97%)
Cash Flow 31.24% 44.37% 6.36%
Earnings 0.00% 0.00% 0.00%
Book Value 13.15% 14.64% (4.40%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.25 Actual −0.24

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.02 −0.94 Miss by 0.96
Q4 FY25 −0.11 −0.09 Beat by 0.02
Q1 FY26 −0.13 −0.33 Miss by 0.20
Q2 FY26 −0.25 −0.24 Beat by 0.01
Q3 FY26 −0.25 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.25) (0.63) — — —
’25 0.46 (0.34) (0.13) (1.46) (1.44)
’24 (0.44) (0.23) (0.07) (1.90) (2.63)
’23 0.29 1.76 0.25 0.04 2.22
’22 0.66 0.45 0.50 0.06 1.66
’21 0.49 0.38 0.60 0.68 2.17
’20 (0.98) 0.62 0.63 0.49 0.81
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 82 77 — — —
’25 155 153 137 124 569
’24 232 234 227 204 897
’23 216 231 249 250 946
’22 124 154 186 199 663
’21 73 103 105 114 395
’20 70 63 61 65 259
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 590 75 — — —
’25 108 (100) 435 (11) 432
’24 23 1 221 29 275
’23 (1) 38 44 (30) 51
’22 15 64 63 217 359
’21 (50) 71 (101) 46 (34)
’20 (100) 148 (48) 69 69
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 627 130 — — —
’25 116 (99) 488 4 509
’24 25 34 243 40 342
’23 33 39 57 0 129
’22 16 65 68 218 367
’21 (49) 72 (101) 88 7
’20 (92) 149 (49) 87 86
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 137 138 169 230 259 395 663 946 897 569 421 +17.1% 343 319 343 (15.5%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 65 48 63 65 54 132 175 358 (517) (303) (621) n/m
EBT margin, % 47.59 34.46 37.08 28.06 21.05 33.44 26.39 37.90 (57.58) (53.16) (147.60) (100.7) pt
Net income 53 46 61 75 46 160 203 348 (430) (221) (549) n/m
Per share, $
Per share, $ Revenue 5.14 4.41 5.28 5.47 4.81 5.77 6.21 6.44 5.30 3.46 2.55 (4.3%)
Earnings 1.85 1.38 1.84 1.72 0.81 2.17 1.73 2.25 (2.63) (1.44) (3.47) n/m
Cash flow 0.62 11.24 4.37 (1.25) 1.28 (0.50) 3.36 0.35 1.63 2.63 6.60 +17.4%
Capex 0.25 0.15 (0.01) (0.02) 0.32 0.61 0.07 0.53 0.40 0.47 0.97 +7.2%
Free cash flow 0.87 11.40 4.36 (1.27) 1.60 0.11 3.43 0.88 2.02 3.09 7.57 +15.2%
Book value 20.72 17.72 17.58 20.11 15.52 18.69 17.69 18.02 11.50 10.04 8.13 (7.7%)
Shares, m 27 31 32 42 54 69 107 147 169 165 164 +22.4%
Valuation, ×
Valuation, × P/E 11.70 11.01 7.40 8.29 16.38 7.20 6.35 4.16 0.00 0.00 0.00 7.2
P/S 2.63 3.45 2.62 2.82 2.59 2.71 1.82 1.59 1.29 0.63 0.43 2.2
P/B 0.65 0.86 0.79 0.77 0.80 0.92 0.68 0.59 0.63 0.23 0.15 0.7
EV/Sales 6.90 9.30 9.04 9.39 8.58 10.64 7.23 4.81 4.85 7.51 7.31 7.8
EV/FCF 40.88 3.56 10.75 (40.40) 23.56 161.12 13.12 35.45 12.74 8.42 2.46 26.9
Cash, $m
Cash, $m Operating cash flow 16 352 140 (52) 69 (34) 359 51 275 432 1,089 +43.8%
Capex 7 5 0 (1) 17 42 8 78 67 77 160 +31.3%
Free cash flow 23 357 140 (53) 86 7 367 129 342 509 1,249 +41.0%
Balance, $m
Balance, $m Working capital 765 739 649 919 986 1,242 1,106 1,988 1,602 1,408 1,851 +7.0%
Net debt 2,346 809 1,089 1,510 1,550 3,134 3,589 3,044 3,194 3,917 2,897 +5.9%
Shareholders’ equity 552 555 564 845 834 1,281 1,890 2,647 1,944 1,652 1,342 +12.9%
Returns, %
Returns, % ROA 1.99 1.69 2.13 1.82 0.87 2.02 1.76 2.75 (3.93) (2.65) (7.25) (4.6) pt
ROIC 2.96 6.38 6.87 6.33 7.25 5.84 7.70 10.38 11.04 6.44 6.29 +3.5 pt
ROE 9.53 7.82 10.59 10.36 5.34 15.00 12.64 15.40 (20.40) (14.12) (37.06) (23.6) pt
People
People Employees — — — — — — — 374 475 442 — +8.7%
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.53 1.89 1.29 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Ready Capital Corp vs peers in Reit Mortgage (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
ARI Apollo Commercial Real Estate Finance $309.8M 3.0× 10.2× −37.40% (below 0%: shrinking) −8.33% (below 0%: shrinking) −20.13% (below 0%: shrinking) 91.99% 16.46% Compare
NREF NexPoint Real Estate Finance, Inc. $256.2M 3.9× 10.9× +11.50% (above 0%: growing) −57.97% (below 0%: shrinking) −363.98% (below 0%: shrinking) 100.00% 25.54% Compare
CMTG Claros Mortgage Trust, Inc. $241.3M — (loss-making) — (loss-making) −29.16% (below 0%: shrinking) n/m +36.67% (above 0%: growing) 79.10% (44.62%) Compare
REFI Chicago Atlantic Real Estate Finance, Inc. $229.1M 6.5× 6.7× −11.02% (below 0%: shrinking) −16.67% (below 0%: shrinking) +40.10% (above 0%: growing) 100.00% 59.97% Compare
ACRE Ares Commercial Real Estate Corporation $188.6M — (loss-making) 48.0× +14.25% (above 0%: growing) n/m +1,481.15% (above 0%: growing) 100.00% 37.52% Compare
RC Ready Capital Corp $176.8M — (loss-making) — (loss-making) −49.32% (below 0%: shrinking) n/m +231.22% (above 0%: growing) 100.00% 101.65%
ACR ACRES Commercial Realty Corp. $176.4M — (loss-making) — (loss-making) −4.08% (below 0%: shrinking) n/m −57.74% (below 0%: shrinking) 92.55% (26.38%) Compare
MITT TPG Mortgage Investment Trust Inc. $158.7M 6.8× 16.4× +11.99% (above 0%: growing) n/m +110.45% (above 0%: growing) 100.00% 100.45% Compare
AOMR Angel Oak Mortgage REIT Inc. $144.4M — (loss-making) 16.4× +15.82% (above 0%: growing) n/m +63.13% (above 0%: growing) 24.11% (39.27%) Compare
Median of peers $208.8M 5.2× 13.6× +3.71% −16.67% +38.39% 96.28% 21.00%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 1 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 0.00 0.00 47.20
2024 0.00 0.00 130.50
2023 0.00 0.00 173.00
2022 0.00 0.00 165.30
2021 0.00 0.00 206.50

Ownership

Directors and executive officers, together 1.40%
Howard Amster 8.60%
Blackrock, Inc. 7.90%
The Vanguard Group, Inc. 5.20%
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

Ready Capital Corp (RC) Latest News

5 Nov

Impact 3 · · Associated Press
Impact 3 · · GlobeNewswire

29 Oct

Impact 3 · · Zacks

13 Aug

Impact 3 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat transcript

7 Aug

Impact 4 · transcript

6 Aug

Impact 4 ·
Impact 3 ·

31 Jul

Impact 3 ·

30 Jul

Impact 3 ·

14 May

Impact 3 · · MarketBeat

7 May

Impact 4 · · Zacks
Impact 4 ·

1 May

Impact 4 · · GlobeNewswire

28 Feb

Impact 4 · · MarketBeat

27 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

26 Feb

Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

13 Feb

Impact 3 ·

14 Jan

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

15 Dec

Impact 3 · · GlobeNewswire

4 Dec

Impact 4 · · Simply Wall St.

6 Nov

Impact 4 · · GlobeNewswire earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press Finance

4 Nov

Impact 3 · · StockStory
stockrow.com/RC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com