NYSE : LADR
Ladder Capital Corp — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 9.16 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.15B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 300.94M | 266.89M | 358.62M | 407.28M | 293.52M | 176.10M |
| Total Interest Expense | 209.96M | 174.92M | 221.54M | 245.10M | 195.60M | 182.95M |
| Net Interest Income | 90.97M | 91.98M | 137.09M | 162.19M | 97.92M | -6.85M |
| Commissions and Fees | 2.49M | 14.99M | 18.70M | 8.93M | 14.86M | 11.19M |
| Gain (Loss) on Sale of Loans & Receivables | -94.00K | 4.72M | 30.00K | -523.00K | -2.51M | 8.40M |
| Gain (Loss) on Sale of Investments | 1.50M | |||||
| Other Revenue | 114.15M | 99.73M | 104.02M | 99.19M | 122.04M | 104.89M |
| Revenue Before Loan Losses | 273.14M | 215.22M | 285.12M | 278.59M | 348.31M | 174.90M |
| Provision for Loan Losses | 104.00K | -157.00K | 13.93M | 25.10M | 3.71M | -8.71M |
| Revenue | 273.04M | 215.38M | 271.18M | 253.50M | 344.59M | 183.61M |
| Salaries & Employee Benefits | 61.62M | 52.73M | 60.67M | 63.62M | 75.84M | 38.35M |
| Cost of Services Provided | 74.48M | 63.61M | 67.48M | 65.94M | 66.56M | 49.64M |
| Total Operating Expenses | 170.78M | 148.34M | 160.48M | 159.47M | 175.06M | 125.79M |
| Operating Income | 102.25M | 67.04M | 110.71M | 94.03M | 169.53M | 57.82M |
| EBT Excluding Unusual Items | 102.25M | 67.04M | 110.71M | 94.03M | 169.53M | 57.82M |
| Other Unusual Items | 79.00K | 151.00K | 188.00K | 10.72M | 685.00K | |
| Pretax Income | 102.33M | 67.19M | 110.89M | 104.75M | 170.21M | 57.82M |
| Income Tax Expense | 3.42M | 3.49M | 3.45M | 4.24M | 4.91M | 928.00K |
| Earnings From Continuing Ops. | 98.91M | 63.70M | 107.45M | 100.50M | 165.31M | 56.89M |
| Minority Interest in Earnings | 36.00K | 487.00K | 808.00K | 624.00K | -23.09M | -371.00K |
| Net Income | 98.95M | 64.18M | 108.25M | 101.12M | 142.22M | 56.52M |
| Net Income to Common | 98.95M | 64.18M | 108.25M | 101.12M | 142.22M | 56.52M |
| Shares Outstanding (Basic) | 124.85M | 125.48M | 125.58M | 124.67M | 124.30M | 123.76M |
| Shares Outstanding (Diluted) | 125.58M | 126.19M | 125.79M | 124.88M | 125.82M | 124.56M |
| EPS (Basic) | 0.79 | 0.51 | 0.86 | 0.81 | 1.14 | 0.46 |
| EPS (Diluted) | 0.79 | 0.51 | 0.86 | 0.81 | 1.13 | 0.45 |
| Dividend Per Share | 0.92 | 0.92 | 0.92 | 0.92 | 0.88 | 0.80 |
| Operating Margin | 37.45% | 31.13% | 40.82% | 37.09% | 49.20% | 31.49% |
| Profit Margin | 36.24% | 29.80% | 39.92% | 39.89% | 41.27% | 30.78% |
| Effective Tax Rate | 3.34% | 5.20% | 3.11% | 4.05% | 2.88% | 1.60% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 41.78M | 37.95M | 1.32B | 1.02B | 609.08M | 548.74M |
| Long-Term Investments | 2.32B | 2.13B | 1.11B | 537.23M | 593.74M | 726.43M |
| Trading Asset Securities | 348.00K | 264.00K | 437.00K | 1.45M | 2.04M | 402.00K |
| Loans & Lease Receivables | 2.91B | 2.17B | 1.54B | 3.11B | 3.86B | 3.52B |
| Other Receivables | 25.06M | 19.29M | 15.54M | 25.33M | 26.24M | 14.04M |
| Property, Plant & Equipment | 624.89M | 664.97M | 620.18M | 665.39M | 635.17M | 790.86M |
| Other Intangible Assets | 40.76M | 51.87M | 50.62M | 61.05M | 64.96M | 74.83M |
| Restricted Cash | 21.43M | 14.89M | 12.61M | 15.45M | 50.52M | 72.80M |
| Other Current Assets | 4.46M | 25.18M | ||||
| Long-Term Deferred Charges | 11.50M | 10.20M | 9.20M | 4.00M | 5.00M | 2.90M |
| Other Long-Term Assets | 22.76M | 22.14M | 136.40M | 48.30M | 72.04M | 73.07M |
| Total Assets | 6.04B | 5.15B | 4.85B | 5.51B | 5.95B | 5.85B |
| Accrued Expenses | 60.49M | 76.45M | 74.82M | 65.14M | 65.83M | 40.25M |
| Short-Term Debt | 874.84M | 627.01M | ||||
| Current Portion of Long-Term Debt | 14.93M | 62.74M | 374.67M | 481.46M | 374.25M | |
| Current Portion of Leases | 570.00K | 2.60M | ||||
| Long-Term Debt | 3.46B | 2.88B | 3.07B | 3.41B | 3.76B | 3.85B |
| Long-Term Leases | 12.34M | 11.67M | ||||
| Other Current Liabilities | 31.45M | 31.82M | 31.84M | 32.29M | 34.40M | 27.59M |
| Long-Term Deferred Tax Liabilities | 5.60M | 6.70M | 4.60M | 3.00M | 1.80M | 2.30M |
| Other Long-Term Liabilities | 127.18M | 31.56M | 65.25M | 96.09M | 69.89M | 47.79M |
| Total Liabilities | 4.58B | 3.67B | 3.31B | 3.98B | 4.42B | 4.34B |
| Common Stock | 126.00K | 127.00K | 127.00K | 127.00K | 127.00K | 126.00K |
| Additional Paid-In Capital | 1.78B | 1.79B | 1.78B | 1.76B | 1.83B | 1.80B |
| Retained Earnings | -264.55M | -260.08M | -206.87M | -197.88M | -177.00M | -207.80M |
| Comprehensive Income & Other | -3.17M | -4.13M | -4.87M | -13.85M | -21.01M | -4.11M |
| Total Common Equity | 1.46B | 1.48B | 1.54B | 1.53B | 1.53B | 1.51B |
| Minority Interest | -2.53M | -2.57M | -2.09M | -950.00K | 215.00K | 6.48M |
| Shareholders' Equity | 1.46B | 1.48B | 1.53B | 1.53B | 1.53B | 1.51B |
| Total Liabilities & Equity | 6.04B | 5.15B | 4.85B | 5.51B | 5.95B | 5.85B |
| Total Debt | 4.36B | 3.52B | 3.14B | 3.78B | 4.25B | 4.22B |
| Net Cash (Debt) | -4.32B | -3.49B | -1.81B | -2.77B | -3.63B | -3.67B |
| Net Cash Per Share | -34.38 | -27.63 | -14.40 | -22.16 | -28.89 | -29.47 |
| Filing Date Shares Outstanding | 125.99M | 127.23M | 127.11M | 126.62M | 126.50M | 126.62M |
| Total Common Shares Outstanding | 125.99M | 127.23M | 127.11M | 126.91M | 126.50M | 125.45M |
| Working Capital | 2.05B | 1.53B | 2.75B | 3.72B | 4.00B | 3.74B |
| Book Value Per Share | 11.61 | 11.66 | 12.08 | 12.08 | 12.12 | 12.01 |
| Tangible Book Value | 1.42B | 1.43B | 1.48B | 1.47B | 1.47B | 1.43B |
| Tangible Book Value Per Share | 11.29 | 11.26 | 11.68 | 11.60 | 11.61 | 11.42 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 98.95M | 64.18M | 108.25M | 101.12M | 142.22M | 56.52M |
| Depreciation & Amortization | 34.12M | 30.70M | 30.63M | 28.12M | 30.91M | 35.91M |
| Other Amortization | 10.82M | 9.64M | 10.56M | 12.43M | 15.56M | 21.53M |
| Gain on Sale of Loans & Receivables | -12.84M | -14.90M | -14.65M | -18.52M | -18.25M | -22.20M |
| Loss (Gain) From Sale of Investments | 5.56M | -5.37M | 1.22M | -420.00K | -1.42M | -1.31M |
| Provision for Credit Losses | 104.00K | -157.00K | 13.93M | 25.10M | 3.71M | -8.71M |
| Loss (Gain) on Equity Investments | 809.00K | 1.42M | 79.00K | -658.00K | -785.00K | -1.46M |
| Stock-Based Compensation | 24.59M | 20.33M | 18.83M | 18.58M | 31.58M | 15.30M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 1.03M | 3.63M | -32.10M | 38.92M | ||
| Change in Other Net Operating Assets | -2.41M | -16.42M | -20.87M | 33.73M | 41.40M | 743.00K |
| Other Operating Activities | -1.56M | 735.00K | -79.00K | -10.76M | 21.17M | -380.00K |
| Operating Cash Flow | 87.68M | 87.02M | 133.92M | 180.60M | 106.71M | 79.74M |
| Investment in Securities | -311.36M | -1.03B | -598.98M | 110.12M | 101.69M | 387.22M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -1.11B | -583.99M | 1.43B | 670.05M | -325.00M | -1.22B |
| Other Investing Activities | -76.00K | 4.63M | 4.31M | 1.32M | 19.10M | |
| Investing Cash Flow | -1.27B | -1.61B | 932.76M | 793.50M | 81.59M | -651.46M |
| Long-Term Debt Issued | 4.57B | 667.97M | 921.01M | 2.43B | 4.52B | |
| Long-Term Debt Repaid | -4.20B | -1.31B | -1.35B | -2.41B | -4.49B | |
| Net Debt Issued (Repaid) | 1.34B | 376.88M | -644.80M | -427.08M | 13.71M | 25.50M |
| Issuance of Common Stock | 1.00K | |||||
| Repurchase of Common Stock | -40.09M | -20.47M | -15.43M | -10.34M | -19.27M | -13.46M |
| Common Dividends Paid | -116.73M | -117.41M | -117.71M | -116.42M | -107.01M | -100.55M |
| Other Financing Activities | -6.43M | -11.96M | -18.65M | -3.92M | -37.67M | -2.50M |
| Financing Cash Flow | 1.18B | 227.04M | -796.59M | -557.77M | -150.24M | -91.02M |
| Net Cash Flow | 298.00K | -1.29B | 270.10M | 416.34M | 38.06M | -662.74M |
| Cash Interest Paid | 157.50M | 157.50M | 199.43M | 233.64M | 177.98M | 173.13M |
| Cash Income Tax Paid | 3.52M | 3.52M | 1.86M | -2.40M | -1.17M | -2.53M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.15B | 1.40B | 1.43B | 1.46B | 1.27B | 1.50B |
| PE Ratio | 11.60 | 21.80 | 13.19 | 14.45 | 8.94 | 26.61 |
| PS Ratio | 4.23 | 6.50 | 5.27 | 5.76 | 3.69 | 8.19 |
| PB Ratio | 0.79 | 0.94 | 0.93 | 0.95 | 0.83 | 0.99 |
| P/OCF Ratio | 13.16 | 16.08 | 10.66 | 8.09 | 11.91 | 18.86 |
| Debt / Equity Ratio | 2.98 | 2.38 | 2.04 | 2.47 | 2.77 | 2.79 |
| Net Debt / Equity Ratio | 2.96 | 2.35 | 1.18 | 1.81 | 2.37 | 2.42 |
| Quick Ratio | 3.03 | 3.02 | 16.99 | 8.80 | 7.74 | 9.24 |
| Current Ratio | 3.08 | 3.08 | 17.23 | 8.89 | 7.87 | 9.46 |
| Asset Turnover | 0.05 | 0.04 | 0.05 | 0.04 | 0.06 | 0.03 |
| Return on Equity (ROE) | 6.70% | 4.23% | 7.01% | 6.56% | 10.85% | 3.72% |
| Return on Assets (ROA) | 1.84% | 1.27% | 2.08% | 1.75% | 2.80% | 0.97% |
| Return on Invested Capital (ROIC) | 1.75% | 1.31% | 2.15% | 1.63% | 2.86% | 0.99% |
| Earnings Yield | 8.62% | 4.59% | 7.58% | 6.92% | 11.19% | 3.76% |
| Dividend Yield | 10.04% | 8.37% | 8.19% | 7.99% | 8.76% | 6.67% |
| Payout Ratio | 116.52% | 182.94% | 108.73% | 115.12% | 75.24% | 177.90% |
| Buyback Yield / Dilution | 0.43% | -0.33% | -0.72% | 0.75% | -1.01% | -10.81% |
| Total Shareholder Return | 10.47% | 8.04% | 7.46% | 8.74% | 7.75% | -4.14% |