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. In the quarter to June 2026, revenue grew 15.6%, EPS fell 97.4%, free cash flow grew 72.7% and total debt rose 21.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, operating cash flow growth for three.

12.45 0.16 −1.27%
Market cap
$4.7B
P/E
21.1×
Fwd P/E
17.8×
Dividend yield
15.4%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total sells 0.12
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 4.94%

Capital & Financial Ratios $m

Market Cap 4,670.00
Revenue 2,007.95
Net Income 264.72
Free Cash Flow 610.12
Net Debt 23,053.77
Current Ratio 1.46
Debt/Equity 3.47
P/E ratio 21.10
Fwd P/E 17.80
P/S ratio 2.27
P/B ratio 0.67
Past 5Y EPS Growth 0.53%
This Y EPS Growth (11.75%) (below 0%: weak)
Next Y EPS Growth 25.67% (at or above 15%: strong)
Next Y revenue growth 14.95% (at or above 10%: strong)
Next 5Y EPS Growth 4.89%

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

Valuation vs history

P/E against its own 10 years 96.13%
10-year low 10-year high
P/S against its own 10 years 0.18%
10-year low 10-year high
P/B against its own 10 years 0.66%
10-year low 10-year high
EV/Sales against its own 10 years 28.64%
10-year low 10-year high
EV/FCF against its own 10 years 67.23%
10-year low 10-year high

Dividends

Payout Ratio 3.25
Annual Dividend Rate 1.92
Annual Dividend Yield 15.42%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.92
0.48
0.48
0.48
2025 1.92
0.48
0.48
0.48
0.48
2024 1.92
0.48
0.48
0.48
0.48
2023 1.92
0.48
0.48
0.48
0.48
2022 1.92
0.48
0.48
0.48
0.48
2021 1.92
0.48
0.48
0.48
0.48
2020 1.92
0.48
0.48
0.48
0.48
2019 1.92
0.48
0.48
0.48
0.48
2018 1.92
0.48
0.48
0.48
0.48
2017 1.92
0.48
0.48
0.48
0.48
2016 1.92
0.48
0.48
0.48
0.48
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 312 554 675 640
Receivables 201 168 163 201
Inventory — — — —
Other — — — —
513 722 837 841
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%

Revenue $m

Mar Jun Sep Dec Year
’26 512 514 — — —
’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 — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.13 0.01 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.69 21.24 19.16 19.28 7.59 18.25 17.69 16.06 18.43 16.59

Analyst estimates 2026–2028

Powerpack
High 23.46 23.01 23.04 25.56 26.33 27.01 25.70 22.29 21.22 21.05
People
People Employees 340 312 290 296 282 277 290 293 286 324
Revenue/emp, $m 2.31 2.82 3.83 4.04 4.03 4.22 5.05 7.00 6.81 5.69
Income, $m
Income, $m Revenue 785 880 1,109 1,196 1,136 1,170 1,465 2,050 1,947 1,844
Gross margin, % 62.29 55.68 51.75 47.20 52.70 52.42 42.57 27.76 28.25 27.46
EBT 376 444 427 550 386 501 998 417 406 480
EBT margin, % 47.92 50.49 38.45 45.98 34.00 42.83 68.10 20.37 20.85 26.02
Net income 368 413 411 537 366 492 1,059 418 381 443
Depreciation 35 77 117 110 87 63 36 39 36 75
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
Earnings 1.50 1.52 1.42 1.79 1.12 1.52 2.74 1.07 1.10 1.15
Cash flow 2.33 (0.95) 2.21 (0.05) 3.71 (3.46) 0.70 1.71 2.02 2.80
Capex (0.07) (2.00) 0.97 1.12 0.00 0.25 0.58 0.16 0.59 (0.48)
Free cash flow 2.27 (2.95) 3.18 1.07 3.71 (3.21) 1.28 1.86 2.61 2.32
Book value 19.12 17.64 18.47 18.39 17.24 22.50 22.37 21.33 21.15 20.38
Shares, m 239 260 265 279 282 286 306 310 320 350
Valuation, ×
Valuation, × P/E 14.41 13.94 13.88 14.13 16.93 15.78 6.69 19.76 17.07 15.53
P/S 6.75 6.25 4.71 5.80 4.79 5.94 3.86 3.19 3.11 3.41
P/B 1.16 1.20 1.07 1.35 1.12 1.08 0.83 0.99 0.90 0.88
EV/Sales 13.82 14.84 13.97 15.16 15.43 20.21 17.60 12.56 11.74 15.03
EV/FCF 19.38 (16.72) 18.39 60.48 16.78 (25.76) 65.74 44.63 27.35 34.23
Cash, $m
Cash, $m Operating cash flow 557 (247) 585 (13) 1,046 (990) 214 529 647 978
Capex (16) (518) 257 313 (1) 72 178 48 189 (168)
Free cash flow 541 (765) 843 300 1,045 (918) 392 577 835 810
Balance, $m
Balance, $m Working capital 481 281 331 426 611 248 252 219 287 338
Total debt 6,201 7,972 10,757 11,763 12,809 17,022 20,507 19,518 17,343 22,094
Net debt 5,550 7,554 10,269 11,189 12,087 16,700 20,125 19,206 16,789 21,420
Shareholders’ equity 4,560 4,579 4,900 5,137 4,863 6,434 6,836 6,609 6,767 7,125
Returns, %
Returns, % ROA 0.45 0.57 0.59 0.70 0.42 0.54 1.05 0.45 0.53 0.64
ROIC 0.83 0.75 0.54 0.64 0.63 0.49 0.44 (0.12) (0.09) 0.13
ROE 8.32 8.77 8.14 10.16 6.63 7.81 12.88 4.95 5.27 5.79
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $13.9B 4.6× 7.0× +76.43% (above 0%: growing) +3,433.33% (above 0%: growing) +1,001.47% (above 0%: growing) 40.28% 0.00% Compare
AGNC AGNC Investment Corp. $10.5B 4.5× 9.4× +22.17% (above 0%: growing) n/m +21.11% (above 0%: growing) 30.08% 64.50% Compare
RITM Rithm Capital Corp. $4.9B 12.3× 7.5× −22.48% (below 0%: shrinking) −77.48% (below 0%: shrinking) +117.58% (above 0%: growing) 100.00% 79.13% Compare
STWD STARWOOD PROPERTY TRUST, INC. $4.7B 21.1× 17.8× +15.62% (above 0%: growing) −97.37% (below 0%: shrinking) +72.68% (above 0%: growing) 27.80% (2.16%)
DX Dynex Capital, Inc. $2.8B 4.1× 28.2× +170.93% (above 0%: growing) n/m +163.96% (above 0%: growing) 100.00% 94.64% Compare
ARR ARMOUR Residential REIT, Inc. $1.9B 3.5× 8.3× +45.88% (above 0%: growing) n/m +741.92% (above 0%: growing) 100.00% 93.50% Compare
BXMT Blackstone Mortgage Trust, Inc. $1.8B 117× 22.4× −3.29% (below 0%: shrinking) n/m +3.93% (above 0%: growing) 78.86% 71.19% Compare
EFC Ellington Financial Inc. $1.5B 7.1× 6.4× +47.95% (above 0%: growing) −4.44% (below 0%: shrinking) +108.89% (above 0%: growing) 95.69% 125.46% Compare
LADR Ladder Capital Corp $1.1B 21.7× 19.0× +4.91% (above 0%: growing) −14.29% (below 0%: shrinking) −9.50% (below 0%: shrinking) 100.00% 60.88% Compare
Median of peers $2.3B 5.8× 8.9× +34.03% −9.36% +113.24% 97.85% 75.16%

All 37 Reit Mortgage stocks →

STARWOOD PROPERTY TRUST, INC. (STWD) key facts

  • Concern: STARWOOD PROPERTY TRUST, INC.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, down 5.27% from fiscal 2024.
  • Strength: Net income was $443.1 million, or $1.15 per share (basic), a net margin of 21.8%.
  • STARWOOD PROPERTY TRUST, INC. (STWD) is a Reit Mortgage company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, STWD traded at $12.45, a market capitalization of $4.7 billion.
  • At that price the stock trades at 21.1× trailing-twelve-month earnings and 2.3× sales; its P/E is higher than 96% of its own readings over the past ten years.
  • STARWOOD PROPERTY TRUST, INC. pays an annual dividend of $1.92 per share, a yield of 15.4%.
  • Return on equity was 5.79% and debt-to-equity 3.47.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

STARWOOD PROPERTY TRUST, INC. (STWD) Latest News

7 Aug

Impact 4 · earnings
stockrow.com/STWD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com