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STARWOOD PROPERTY TRUST, INC.

STWD Real Estate Reit Mortgage

STARWOOD PROPERTY TRUST, INC.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, down 5.27% from fiscal 2024.

Revenue
+11.7%
EPS
−668.4%
Free cash flow
+72.7%
Total debt
+21.1%

Quarter to September 2026, against a year earlier

12.42 0.46 −3.57%
Market cap
$4.8B
P/E
0.0×
Fwd P/E
17.1×
Dividend yield
14.9%
F-score
5/9
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

Sold, $m 0.12
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — 1 — — — — — — —
Insider Ownership 4.28%

Capital & Financial Ratios $m

Size
Market Cap 4,770.00
Revenue ttm 2,064.92
Net income ttm (196.37)
Free cash flow ttm 984.19
Net debt Q (712.75)
Valuation
P/E 0.00
Forward P/E 17.10
Price / sales 2.27
Forward P/S Powerpack
Price / FCF 9.29
Price / book 0.76
Financial health
Current ratio Q 0.00
Debt / equity Q 0.00
Interest coverage Q —
Growth
Revenue growth Q +11.65% (above 0%: growing)
Operating income growth Q −51,822.79% (below 0%: shrinking)
EPS, this year −13.49% (below 0%: weak)
EPS, next year A +24.89% (at or above 15%: strong)
Revenue, next year A +15.00% (at or above 10%: strong)
EPS, past 5 yrs +0.53%
EPS, next 5 yrs A +4.89%

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 13.4×, against a ten-year median of 14.5×; over the ten years it ranged from 11.5× in 2024 to 21.5× in 2022.
P/S against its own 10 years 0.88%
10-year low 10-year high
P/B against its own 10 years 2.46%
10-year low 10-year high
EV/Sales against its own 10 years 25.74%
10-year low 10-year high
EV/FCF against its own 10 years 79.97%
10-year low 10-year high

Dividends

Yield
14.9%
Annual rate
1.92
Payout ratio
325.4%
Growth, 2017–25
0.00%/yr
  1. 1.92 ’17
  2. 1.92 ’18 +0
  3. 1.92 ’19 +0
  4. 1.92 ’20 +0
  5. 1.92 ’21 +0
  6. 1.92 ’22 +0
  7. 1.92 ’23 +0
  8. 1.92 ’24 +0
  9. 1.92 ’25 +0
  10. 1.90 ’26e −1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 312 554 675 713
Receivables 201 168 163 216
Inventory — — — —
Other — — — —
513 722 837 929
2023 2024 2025 Q'26
Payables 293 435 500 576
ST’ Debt — — — —
Other — — — —
293 435 500 576

Compound Annual Growth %

10y 5y 3y
Sales 9.62% 10.17% 7.98%
Cash Flow 4.91% (1.33%) 66.01%
Earnings (1.05%) 3.94% (22.20%)
Book Value 5.50% 7.94% 1.39%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.40 Actual 0.40

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.45 0.40 Miss by 0.05
Q4 FY25 0.41 0.42 Beat by 0.01
Q1 FY26 0.42 0.39 Miss by 0.03
Q2 FY26 0.40 0.40 Met by 0.00
Q3 FY26 0.28 — Reports 6 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.13 0.01 (1.08) — —
’25 0.33 0.38 0.19 0.26 1.15
’24 0.48 0.24 0.23 0.15 1.10
’23 0.16 0.54 0.15 0.22 1.07
’22 1.02 0.67 0.61 0.44 2.74
’21 0.38 0.40 0.44 0.31 1.52
’20 (0.24) 0.49 0.52 0.37 1.12
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 512 514 546 — —
’25 418 444 489 493 1,844
’24 523 490 480 454 1,947
’23 490 516 522 522 2,050
’22 294 326 391 455 1,465
’21 287 291 302 290 1,170
’20 313 266 267 291 1,136
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 94 171 231 — —
’25 239 (87) 338 489 978
’24 56 53 242 296 647
’23 (29) 189 356 12 529
’22 154 531 159 (631) 214
’21 271 17 (750) (528) (990)
’20 191 579 (244) 519 1,046
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 (10) 231 — —
’25 233 (37) 291 324 810
’24 238 56 253 289 835
’23 (34) 199 393 19 577
’22 295 526 173 (602) 392
’21 298 39 (755) (500) (918)
’20 184 596 (248) 513 1,045
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 785 880 1,109 1,196 1,136 1,170 1,465 2,050 1,947 1,844 2,065 +10.0% 2,121 2,323 2,520 +11.0%
Gross margin, % 62.29 55.68 51.75 47.20 52.70 52.42 42.57 27.76 28.25 27.46 29.35 (34.8) pt
EBT 376 444 427 550 386 501 998 417 406 480 (178) +2.7%
EBT margin, % 47.92 50.49 38.45 45.98 34.00 42.83 68.10 20.37 20.85 26.02 (8.63) (21.9) pt
Net income 368 413 411 537 366 492 1,059 418 381 443 (196) +2.1%
Per share, $
Per share, $ Revenue 3.29 3.39 4.18 4.28 4.03 4.09 4.79 6.62 6.09 5.27 5.68 +5.4%
Earnings 1.50 1.52 1.42 1.79 1.12 1.52 2.74 1.07 1.10 1.15 (0.68) (2.9%)
Cash flow 2.33 (0.95) 2.21 (0.05) 3.71 (3.46) 0.70 1.71 2.02 2.80 2.70 +2.0%
Capex (0.07) (2.00) 0.97 1.12 0.00 0.25 0.58 0.16 0.59 (0.48) 0.00 +24.5%
Free cash flow 2.27 (2.95) 3.18 1.07 3.71 (3.21) 1.28 1.86 2.61 2.32 2.70 +0.2%
Book value 19.12 17.64 18.47 18.39 17.24 22.50 22.37 21.33 21.15 20.38 16.93 +0.7%
Shares, m 239 260 265 279 282 286 306 310 320 350 362 +4.3%
Valuation, ×
Valuation, × P/E 14.41 13.94 13.88 14.13 16.93 15.78 6.69 19.76 17.07 15.53 0.00 14.8
P/S 6.75 6.25 4.71 5.80 4.79 5.94 3.86 3.19 3.11 3.41 2.27 4.8
P/B 1.16 1.20 1.07 1.35 1.12 1.08 0.83 0.99 0.90 0.88 0.76 1.1
EV/Sales 13.82 14.84 13.97 15.16 15.43 20.21 17.60 12.56 11.74 15.03 13.40 15.0
EV/FCF 19.38 (16.72) 18.39 60.48 16.78 (25.76) 65.74 44.63 27.35 34.23 54.91 24.4
Cash, $m
Cash, $m Operating cash flow 557 (247) 585 (13) 1,046 (990) 214 529 647 978 984 +6.5%
Capex (16) (518) 257 313 (1) 72 178 48 189 (168) (480) +29.9%
Free cash flow 541 (765) 843 300 1,045 (918) 392 577 835 810 984 +4.6%
Balance, $m
Balance, $m Working capital 481 281 331 426 611 248 252 219 287 338 929 (3.9%)
Net debt 5,550 7,554 10,269 11,189 12,087 16,700 20,125 19,206 16,789 21,420 (713) +16.2%
Shareholders’ equity 4,560 4,579 4,900 5,137 4,863 6,434 6,836 6,609 6,767 7,125 6,161 +5.1%
Returns, %
Returns, % ROA 0.45 0.57 0.59 0.70 0.42 0.54 1.05 0.45 0.53 0.64 (0.41) +0.2 pt
ROIC 0.83 0.75 0.54 0.64 0.63 0.49 0.44 (0.12) (0.09) 0.13 (3.01) (0.7) pt
ROE 8.32 8.77 8.14 10.16 6.63 7.81 12.88 4.95 5.27 5.79 (3.65) (2.5) pt
People
People Employees 340 312 290 296 282 277 290 293 286 324 — (0.5%)
Revenue/emp, $m 2.31 2.82 3.83 4.04 4.03 4.22 5.05 7.00 6.81 5.69 — +10.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

STARWOOD PROPERTY TRUST, INC. 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
NLY Annaly Capital Management Inc $14.9B 13.2× 18.4× −76.86% (below 0%: shrinking) n/m +741.71% (above 0%: growing) (187.86%) 0.00% Compare
AGNC AGNC Investment Corp. $11.2B 441× — (loss-making) +32.45% (above 0%: growing) n/m +164.05% (above 0%: growing) 33.61% (113.46%) Compare
RITM Rithm Capital Corp. $5.3B 14.6× 10.1× +55.62% (above 0%: growing) +8.33% (above 0%: growing) +34.64% (above 0%: growing) 100.00% 83.59% Compare
STWD STARWOOD PROPERTY TRUST, INC. $4.8B 21.8× 17.1× +15.62% (above 0%: growing) n/m +72.68% (above 0%: growing) 27.80% (2.16%)
DX Dynex Capital, Inc. $2.8B 47.2× — (loss-making) +122.14% (above 0%: growing) n/m +19.26% (above 0%: growing) 100.00% 96.21% Compare
BXMT Blackstone Mortgage Trust, Inc. $1.9B — (loss-making) — (loss-making) −5.69% (below 0%: shrinking) n/m −68.73% (below 0%: shrinking) 77.32% 69.63% Compare
ARR ARMOUR Residential REIT, Inc. $1.9B — (loss-making) — (loss-making) +30.53% (above 0%: growing) n/m +361.70% (above 0%: growing) 100.00% 93.98% 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% Compare
LADR Ladder Capital Corp $1.2B 11.4× 12.9× −15.61% (below 0%: shrinking) +253.93% (above 0%: growing) +579.74% (above 0%: growing) 100.00% 54.14% Compare
Median of peers $2.3B 13.9× 11.5× +31.49% +8.33% +136.47% 97.85% 76.61%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 13 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 0.00 0.00 148.43
2024 0.00 0.00 141.54
2023 0.00 0.00 142.54
2022 0.00 0.00 112.58
2021 0.00 0.00 135.83

Ownership

Directors and executive officers, together 5.80%
BlackRock, Inc. 8.10%
The Vanguard Group 7.80%
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

STARWOOD PROPERTY TRUST, INC. (STWD) Latest News

6 Nov

Impact 3 · · Associated Press
Impact 3 · · PR Newswire

16 Oct

Impact 3 · · Simply Wall St.

15 Oct

Impact 3 · · Insider Monkey

11 Sep

Impact 3 · · credaily.com

9 Sep

Impact 3 ·

9 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 3 ·

27 Jul

Impact 3 · · credaily.com

24 Jul

Impact 3 ·

1 Jul

Impact 3 ·

21 Jun

Impact 3 · · Insider Monkey

5 Jun

Impact 3 · · TipRanks

15 May

Impact 4 · · MarketBeat

11 May

Impact 3 · · PR Newswire
Impact 3 · · Zacks
Impact 3 · · PR Newswire

8 May

Impact 4 · · Moby
Impact 4 · · PR Newswire
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

5 May

Impact 3 · · Insider Monkey

3 May

Impact 3 · · Simply Wall St.

13 Apr

Impact 4 · · 24/7 Wall St.

2 Apr

Impact 4 · · Simply Wall St.

31 Mar

Impact 3 · · MarketBeat

23 Mar

Impact 3 · · Moby

13 Mar

Impact 3 · · PR Newswire

3 Mar

Impact 4 · · Zacks

28 Feb

Impact 4 · · Simply Wall St.

STWD metrics, ten years each

stockrow.com/STWD · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com