NYSE : RC
Ready Capital Corporation — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 1.07 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 177.10M
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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 | 420.60M | 569.17M | 896.98M | 945.81M | 663.22M | 395.20M |
| Total Interest Expense | 414.18M | 507.65M | 682.33M | 716.47M | 392.36M | 204.37M |
| Net Interest Income | 6.42M | 61.51M | 214.64M | 229.35M | 270.86M | 190.83M |
| Other Revenue | 3.70M | -32.49M | -106.40M | 205.18M | 167.63M | 155.10M |
| Revenue Before Loan Losses | 10.12M | 29.02M | 108.24M | 434.52M | 438.48M | 345.93M |
| Provision for Loan Losses | 280.43M | 87.04M | 292.76M | 7.23M | 34.44M | 8.05M |
| Revenue | -270.31M | -58.02M | -184.52M | 427.29M | 404.04M | 337.88M |
| Salaries & Employee Benefits | 108.44M | 104.31M | 93.91M | 92.37M | 84.54M | 69.12M |
| Cost of Services Provided | 85.66M | 93.77M | 100.41M | 103.56M | 71.22M | 51.64M |
| Other Operating Expenses | 150.80M | 121.61M | 83.63M | 54.52M | 55.59M | 70.67M |
| Total Operating Expenses | 344.90M | 319.69M | 277.95M | 250.44M | 211.35M | 191.44M |
| Operating Income | -615.21M | -377.70M | -462.46M | 176.85M | 192.69M | 146.44M |
| Currency Exchange Gain (Loss) | 205.00K | 205.00K | 912.00K | |||
| EBT Excluding Unusual Items | -615.00M | -377.50M | -461.55M | 176.85M | 192.69M | 146.44M |
| Other Unusual Items | 27.74M | 109.55M | 13.86M | 207.97M | ||
| Pretax Income | -620.79M | -302.56M | -516.51M | 358.42M | 175.03M | 132.16M |
| Income Tax Expense | -71.51M | -86.70M | -104.51M | 7.17M | 15.47M | 14.86M |
| Earnings From Continuing Ops. | -549.28M | -215.85M | -412.00M | 351.25M | 159.55M | 117.30M |
| Earnings From Discontinued Ops. | 163.00K | -5.21M | -18.40M | -2.83M | 43.61M | 42.67M |
| Net Income to Company | -549.12M | -221.06M | -430.40M | 348.41M | 203.16M | 159.97M |
| Minority Interest in Earnings | -7.07M | -7.85M | -5.36M | -8.96M | -8.90M | -2.23M |
| Net Income | -556.19M | -228.91M | -435.75M | 339.45M | 194.26M | 157.74M |
| Preferred Dividends & Other Adjustments | 8.34M | 8.67M | 9.12M | 9.28M | 9.56M | 9.09M |
| Net Income to Common | -564.53M | -237.58M | -444.88M | 330.17M | 184.70M | 148.65M |
| Shares Outstanding (Basic) | 163.49M | 164.54M | 169.11M | 146.84M | 106.88M | 68.51M |
| Shares Outstanding (Diluted) | 163.49M | 164.54M | 169.11M | 148.57M | 117.19M | 68.66M |
| EPS (Basic) | -3.45 | -1.44 | -2.63 | 2.25 | 1.73 | 2.17 |
| EPS (Diluted) | -3.45 | -1.44 | -2.63 | 2.23 | 1.66 | 2.17 |
| Dividend Per Share | 0.15 | 0.39 | 1.10 | 1.46 | 1.66 | 1.66 |
| Operating Margin | 41.39% | 47.69% | 43.34% | |||
| Profit Margin | 77.27% | 45.71% | 44.00% | |||
| Effective Tax Rate | 2.00% | 8.84% | 11.24% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 124.15M | 207.84M | 143.80M | 139.20M | 148.40M | 238.57M |
| Long-Term Investments | 228.25M | 241.31M | 257.37M | 245.19M | 235.40M | 141.15M |
| Trading Asset Securities | 3.10M | 6.74M | 17.24M | 9.07M | 12.53M | 53.32M |
| Loans & Lease Receivables | 4.34B | 5.28B | 8.33B | 10.69B | 10.08B | 7.99B |
| Other Receivables | 162.59M | 149.21M | 222.22M | 193.67M | 58.03M | 59.04M |
| Property, Plant & Equipment | 3.03M | 3.37M | 7.36M | 2.54M | 1.69M | 2.40M |
| Goodwill | 49.50M | 49.50M | 49.50M | 38.53M | 37.82M | 31.47M |
| Other Intangible Assets | 153.92M | 164.45M | 165.45M | 120.59M | 102.57M | 219.44M |
| Restricted Cash | 53.60M | 41.69M | 38.97M | 123.30M | 125.21M | 84.76M |
| Other Current Assets | 604.44M | 654.73M | 502.76M | 273.72M | 583.30M | 95.48M |
| Long-Term Deferred Tax Assets | 201.57M | 201.57M | 111.33M | 977.00K | 3.60M | |
| Long-Term Deferred Charges | 15.12M | 31.67M | 35.86M | 41.81M | 41.84M | 29.76M |
| Other Long-Term Assets | 42.39M | 31.63M | 14.82M | 485.13M | 69.28M | 36.61M |
| Total Assets | 6.26B | 7.77B | 10.14B | 12.44B | 11.62B | 9.53B |
| Accounts Payable | 31.83M | 33.78M | 22.47M | 16.29M | 42.30M | |
| Accrued Expenses | 86.01M | 100.74M | 97.75M | 88.70M | 87.36M | 94.27M |
| Short-Term Debt | 60.00K | 1.43M | 352.00K | 212.00K | 1.32M | 94.52M |
| Current Portion of Long-Term Debt | 772.10M | 796.89M | 500.26M | 51.28M | 127.56M | 46.16M |
| Current Portion of Leases | 1.99M | |||||
| Long-Term Debt | 3.96B | 5.15B | 7.27B | 9.18B | 9.09B | 7.89B |
| Long-Term Leases | 7.92M | 6.58M | 17.81M | 8.21M | 1.78M | 3.00M |
| Other Current Liabilities | 3.67M | 3.63M | 271.90M | 387.45M | 323.12M | 46.81M |
| Other Long-Term Liabilities | 81.90M | 24.35M | 6.22M | 23.97M | 40.30M | 17.07M |
| Total Liabilities | 4.91B | 6.12B | 8.20B | 9.79B | 9.72B | 8.25B |
| Common Stock | 17.00K | 17.00K | 17.00K | 17.00K | 11.00K | 8.00K |
| Additional Paid-In Capital | 2.27B | 2.26B | 2.25B | 2.32B | 1.68B | 1.16B |
| Retained Earnings | -1.12B | -807.52M | -505.09M | 124.41M | 4.99M | 8.60M |
| Comprehensive Income & Other | -21.45M | -24.20M | -18.55M | -17.86M | -9.37M | -5.73M |
| Total Common Equity | 1.13B | 1.43B | 1.73B | 2.43B | 1.68B | 1.16B |
| Minority Interest | 102.67M | 99.23M | 97.70M | 98.46M | 99.15M | 4.49M |
| Shareholders' Equity | 1.35B | 1.65B | 1.94B | 2.65B | 1.90B | 1.29B |
| Total Liabilities & Equity | 6.26B | 7.77B | 10.14B | 12.44B | 11.62B | 9.53B |
| Total Debt | 4.74B | 5.96B | 7.79B | 9.24B | 9.22B | 8.03B |
| Net Cash (Debt) | -4.61B | -5.74B | -7.63B | -9.09B | -9.06B | -7.74B |
| Net Cash Per Share | -28.23 | -34.90 | -45.10 | -61.19 | -77.34 | -112.73 |
| Filing Date Shares Outstanding | 165.19M | 162.88M | 163.15M | 172.55M | 110.73M | 83.33M |
| Total Common Shares Outstanding | 165.21M | 163.01M | 162.79M | 172.28M | 110.52M | 75.84M |
| Working Capital | 4.71B | 6.11B | 8.60B | 10.92B | 10.54B | 8.73B |
| Book Value Per Share | 6.83 | 8.79 | 10.61 | 14.10 | 15.20 | 15.36 |
| Tangible Book Value | 1.04B | 1.34B | 1.64B | 2.37B | 1.63B | 1.12B |
| Tangible Book Value Per Share | 6.31 | 8.25 | 10.08 | 13.77 | 14.72 | 14.75 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -556.19M | -228.91M | -435.75M | 339.45M | 194.26M | 157.74M |
| Depreciation & Amortization | 37.30M | 34.38M | 24.37M | |||
| Gain on Sale of Loans & Receivables | -150.80M | -15.44M | 124.88M | |||
| Loss (Gain) From Sale of Investments | 48.89M | 45.61M | 52.54M | 66.53M | 2.43M | -23.93M |
| Asset Writedown & Restructuring Costs | 20.04M | 12.08M | 15.09M | -8.87M | -23.48M | -23.17M |
| Provision for Credit Losses | 280.43M | 87.04M | 294.88M | 16.22M | 37.80M | 9.35M |
| Loss (Gain) on Equity Investments | -10.90M | -2.27M | -7.70M | 2.93M | -9.33M | 561.00K |
| Stock-Based Compensation | 6.50M | 5.81M | 8.12M | 7.55M | 7.50M | 6.92M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 1.29B | 635.60M | 326.04M | 18.06M | 192.09M | -83.63M |
| Change in Accounts Payable | -36.97M | -14.41M | -22.21M | 13.98M | -67.50M | 3.66M |
| Change in Other Net Operating Assets | -100.91M | -221.57M | -51.75M | -68.91M | 63.86M | -46.72M |
| Other Operating Activities | -45.14M | -129.11M | -91.67M | -242.20M | -43.59M | -30.27M |
| Operating Cash Flow | 1.09B | 432.12M | 274.81M | 51.13M | 359.15M | -34.44M |
| Sale of Property, Plant & Equipment | 4.25M | 4.25M | ||||
| Cash Acquisitions | 16.02M | -44.37M | 38.71M | 123.57M | -11.54M | |
| Divestitures | 3.52M | 3.52M | ||||
| Investment in Securities | 19.13M | 6.09M | -19.65M | -9.69M | 114.50M | 1.97B |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 1.67B | 1.55B | 1.45B | 935.85M | -1.77B | -3.72B |
| Other Investing Activities | -46.77M | -4.79M | 85.51M | -10.96M | -23.91M | -496.00K |
| Investing Cash Flow | 1.80B | 1.64B | 1.54B | 1.02B | -1.56B | -1.72B |
| Long-Term Debt Issued | 3.33B | 2.32B | 5.25B | 10.38B | 12.70B | |
| Long-Term Debt Repaid | -5.15B | -3.86B | -6.10B | -8.94B | -10.72B | |
| Net Debt Issued (Repaid) | -2.87B | -1.82B | -1.54B | -855.05M | 1.44B | 1.98B |
| Preferred Share Repurchases | -109.37M | |||||
| Issuance of Common Stock | 108.00K | 123.49M | 166.69M | |||
| Repurchase of Common Stock | -13.14M | -69.70M | -83.49M | -22.06M | -42.79M | -1.29M |
| Total Dividends Paid | -52.76M | -113.32M | -206.06M | -215.09M | -187.83M | -111.92M |
| Other Financing Activities | 6.45M | -34.15M | -52.83M | 7.00M | -160.44M | -52.61M |
| Financing Cash Flow | -2.93B | -2.04B | -1.88B | -1.09B | 1.17B | 1.88B |
| Net Cash Flow | 14.86M | 66.76M | -79.73M | -11.10M | -49.98M | 122.85M |
| Cash Interest Paid | 377.25M | 489.25M | 659.26M | 661.17M | 355.23M | 186.09M |
| Cash Income Tax Paid | 384.00K | -34.00K | -11.93M | 2.01M | 29.16M | 13.38M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 182.06M | 353.44M | 1.15B | 1.76B | 1.23B | 1.15B |
| PE Ratio | 5.34 | 6.67 | 7.74 | |||
| PS Ratio | -6.09 | -6.23 | 4.13 | 3.05 | 3.40 | |
| PB Ratio | 0.16 | 0.21 | 0.59 | 0.67 | 0.65 | 0.89 |
| P/OCF Ratio | 0.16 | 0.82 | 4.18 | 34.51 | 3.43 | |
| Debt / Equity Ratio | 3.51 | 3.61 | 4.01 | 3.49 | 4.86 | 6.23 |
| Net Debt / Equity Ratio | 3.42 | 3.48 | 3.92 | 3.44 | 4.77 | 6.00 |
| Quick Ratio | 5.38 | 6.02 | 9.64 | 18.91 | 17.56 | 24.79 |
| Current Ratio | 6.46 | 7.52 | 10.51 | 19.73 | 18.97 | 26.97 |
| Asset Turnover | 0.04 | 0.04 | 0.04 | |||
| Return on Equity (ROE) | -33.45% | -12.01% | -17.95% | 15.46% | 10.01% | 11.05% |
| Return on Assets (ROA) | -7.05% | -2.41% | -3.65% | 2.92% | 1.51% | 1.57% |
| Return on Invested Capital (ROIC) | -10.05% | -4.36% | -4.28% | 1.51% | 1.72% | 1.79% |
| Earnings Yield | -313.90% | -64.77% | -37.91% | 19.24% | 15.78% | 13.71% |
| Dividend Yield | 3.64% | 17.76% | 15.58% | 14.26% | 14.90% | 10.94% |
| Payout Ratio | 63.36% | 96.69% | 70.95% | |||
| Buyback Yield / Dilution | 2.20% | 2.70% | -13.83% | -26.77% | -70.69% | -27.58% |
| Total Shareholder Return | 5.94% | 20.46% | 1.75% | -12.51% | -55.78% | -16.63% |