Ready Capital Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ready Capital Corp 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Interest expense	57.8	74.6	109	152	175	204	392	716
Pre-tax income	65.2	47.7	62.8	64.5	54.5	132	175	358	-517	-303
Income tax	9.65	1.84	1.39	-10.6	8.38	14.9	15.5	7.17	-105	-86.7
Net income to minority interests	4.24	2.52	2.2	2.09	1.2	2.23	8.9	8.96	5.36	7.85
Net income	49.2	43.3	59.3	73	44.9	150	186	331	-444	-237
EPS, basic	1.85	1.38	1.84	1.72	0.81	2.17	1.73	2.25	-2.63	-1.44
EPS, diluted	1.85	1.38	1.84	1.72	0.81	2.16	1.65	2.22	-2.63	-1.44
Shares, basic (weighted)	26.6	31.4	32.1	42	53.7	68.5	107	147	169	165
Shares, diluted (weighted)	26.6	31.4	32.1	42	53.8	68.7	117	149	170	167
Dividend per share	1.61	1.48	1.57	1.60	1.30	1.66	1.66	1.46	1.10	0.39

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	59.6	63.4	54.4	67.9	139	193	147	139	144	208
Short-term investments	320
Property, plant and equipment			1.1
Lease right-of-use assets				4.53	3.17	2.4	1.69	2.54	7.36	3.37
Goodwill				11.2	11.2	31.5	37.8	38.5	49.5	49.5
Intangible assets	3.64	3.26	2.92	8.31	6.99	14.8	15.5	17.7	37	38.2
Other non-current assets	1.57
Total assets	2,605	2,524	3,037	4,977	5,372	9,534	11,621	12,441	10,142	7,770
Accrued liabilities	17.5	16.5	19.9	21.1	35.7	42.7	31.1	34	39.6	35.7
Total liabilities	2,053	1,968	2,473	4,132	4,538	8,245	9,722	9,794	8,198	6,118
Total debt			337	440	443	897	1,120	1,110	1,333	1,375
Paid-in capital	513	539	540	823	850	1,162	1,684	2,322	2,250	2,264
Retained earnings	-0.2	-3.39	5.27	8.75	-24.2	8.6	4.99	124	-505	-808
Other comprehensive income			-0.92	-6.18	-9.95	-5.73	-9.37	-17.9	-18.6	-24.2
Shareholders' equity	513	536	545	825	815	1,276	1,791	2,540	1,838	1,544
Minority interests	39	19.4	19.2	19.4	18.8	4.49	99.1	98.5	97.7	99.2
Total equity	552	555	564	845	834	1,281	1,890	2,638	1,936	1,643
Total liabilities and equity	2,605	2,524	3,037	4,977	5,372	9,534	11,621	12,441	10,142	7,770
Shares outstanding	30.5	32	32.1	51.1	54.4	75.8	111	172	163	163

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	53.4	45.8	61.5	75.1	46.1	160	203	348	-430	-221
Depreciation and amortization	0.62							0	0	2.81
Stock-based compensation	0			1.48	5.3	6.92	7.5	7.55	8.12	5.81
Deferred income tax	2.26	3.25	0.86	-11.1	10.1	0.04	7.01	5.36	-105	-87.1
Change in receivables	-2.33	0.46	-2.13	7.56	-0.01	9.73	14.1	-21.3	1.95	-2.97
Cash from operations	16.5	352	140	-52.4	68.9	-34.4	359	51.1	275	432
Acquisitions				-5.01		-11.5	124	38.7	-44.4
Purchases of investments	-1,570	-839
Sales and maturities of investments	1,570	1,160
Cash from investing	390	-236	-581	-1,213	-59.4	-1,718	-1,556	1,019	1,535	1,643
Debt issued			50	105		304	220	0	126	0
Debt repaid	-57.5					-50		0	0	-247
Stock issued		-0.07	0.09	91.4	13.4	165	123	0.11	0	0
Share buybacks	-0				-9.24		-37	-18.1	-82.3	-67.6
Dividends paid	-46.9	-48.3	-51.3	-63.3	-56.9	-112	-188	-215	-206	-113
Cash from financing	-381	-107	444	1,298	63.1	1,876	1,171	-1,085	-1,880	-2,038
Net change in cash	18	3.86	4.02	33	72.5	123	-2.63	-11.1	-79.7	66.8
Interest paid	54.7	62.1	95.9	126	156	186	355	661	659	489
Income taxes paid	6.16	3.77	0.9	-2.66	-8.48	13.4	29.2	2.01	-11.9	-0.03

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-45.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-9.0%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Operating cash flow growth, 1y	57.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.4%	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	44.4%	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	-65.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-38.6%	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	-21.6%	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	-16.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-4.8%	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	13.6%	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	-23.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-12.6%	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	7.7%	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	-1.9%	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	12.6%	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	25.5%	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
Debt / equity	0.96x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.1%	Total debt / total assets.
Liabilities / assets	78.4%	Total liabilities / total assets.
Net debt	$1.07B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.15B	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.27	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	$6.30	Cash from operations / diluted weighted shares.
Book value per share	$7.50	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.98	Tangible book value / shares outstanding.
Cash per share	$0.75	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$219.7M	Share price x shares outstanding.
Enterprise value	$1.29B	Market cap + total debt - cash - short-term investments.
P/B	0.18x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.19x	Market cap / tangible book value, when positive.
P/OCF	0.20x	Market cap / cash from operations, when positive.
Earnings yield	-256.8%	Net income / market cap (the inverse of P/E).
Dividend yield	24.0%	Dividends paid over the period / market cap.
Shareholder yield	29.7%	(Dividends paid + share buybacks) / market cap.

Was Ready Capital Corp profitable in fiscal 2025?

No. It reported a net loss of $236.9M.

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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