Ellington Credit Co financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ellington Credit Co files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Operating expenses	5.15	5.01	5.7	5.51	5.29	5.83	5.75	5.13	5.54	8.78
Interest expense								14.8	45.3	34.8
Pre-tax income									4.56	7.1
Income tax									0	0.51
Net income	0.03	11.9	10.8	-11.3	22.3	20.1	-6.31	-30.2	4.56	6.59
EPS, basic	0.00	1.31	0.93	-0.88	1.79	1.63	-0.50	-2.29	0.31	0.28
EPS, diluted	0.00	1.31	0.93	-0.88	1.79	1.63	-0.50	-2.29	0.31	0.28
Shares, basic (weighted)	9.14	9.12	11.6	12.8	12.5	12.4	12.7	13.2	14.9	23.6
Shares, diluted (weighted)	9.14	9.12	11.6	12.8	12.5	12.4	12.7	13.2	14.9	23.6
Dividend per share	2.00	1.65	1.57	1.45	1.18	1.12	1.18	1.04	0.96	0.96

Balance sheet

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	40.2	33.5	56.1	18.6	35.4	58.2	69	34.8	38.5	31.8
Total assets	1,557	1,429	1,887	1,676	1,489	1,195	1,598	1,054	946	824
Total liabilities	1,412	1,287	1,694	1,522	1,328	1,028	1,444	941	809	630
Paid-in capital	181	181	240	231	230	230	239	241	275	349
Retained earnings	-36.3	-39.4	-47.5	-77.2	-69.6	-63.3	-84.8	-129	-139	-155
Shareholders' equity	145	142	193	154	161	166	154	112	136	194
Total equity	145	142	193	154	161	166	154	112	136	194
Total liabilities and equity	1,557	1,429	1,887	1,676	1,489	1,195	1,598	1,054	946	824
Shares outstanding	9.14	9.13	13.3	12.5	12.5	12.3	13.1	13.4	18.6	29.7

Cash flow statement

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	0.03	11.9	10.8	-11.3	22.3	20.1	-6.31	-30.2	4.56	6.59
Stock-based compensation	0.12	0.17	0.2	0.2	0.22	0.24	0.27	0.31	0.26	0.44
Deferred income tax										0
Cash from operations	24.8	19.9	34.4	28.8	17.5	24.4	27.9	22.4	-10	9.11
Purchases of investments	-2,021	-2,083	-2,518	-1,474	-1,577	-944	-1,646	-2,358	-1,784	-1,359
Cash from investing	90.1	13.9	-476	62.8	222	304	-15.2	111	85.7	116
Stock issued	0	0	59.1	0					33.8	74.1
Share buybacks	-0.38	-0.2	0	-9.39	-0.75	-0.99	0	-0.26	0	0
Dividends paid	-19.2	-15.5	-17.6	-19.1	-15.5	-13.8	-17.3	-13.9	-14.1	-22.2
Cash from financing	-120	-40.5	464	-129	-223	-306	-1.79	-167	-72	-132
Net change in cash	-5.07	-6.66	22.6	-37.5	16.8	22.8	10.9	-34.2	3.72	-6.69
Interest paid	5.56	8.72	17.6	30.9	36.5	13.2	2.31	11	47.1	35.7
Income taxes paid									0	0.83

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2025; growth uses fiscal years. Valuation uses the share price of $4.26 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-2.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.7%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	44.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	-21.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-9.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-31.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-31.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-12.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-6.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-4.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	42.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-19.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-11.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	58.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	23.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	13.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	70.8%	Total liabilities / total assets.
Tangible book value	$228.5M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.15	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$0.56	Cash from operations / diluted weighted shares.
Book value per share	$6.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.08	Tangible book value / shares outstanding.
Cash per share	$0.46	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$160.0M	Share price x shares outstanding.
Enterprise value	$142.6M	Market cap + total debt - cash - short-term investments.
P/B	0.70x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.70x	Market cap / tangible book value, when positive.
P/OCF	8.19x	Market cap / cash from operations, when positive.
Earnings yield	-3.3%	Net income / market cap (the inverse of P/E).
Dividend yield	16.0%	Dividends paid over the period / market cap.
Shareholder yield	16.0%	(Dividends paid + share buybacks) / market cap.

Was Ellington Credit Co profitable in fiscal 2024?

Yes. Net income was $6.6M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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