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Specialty finance REIT investing across residential and commercial mortgage credit, securitized products and related loans.
Specialty finance REIT investing across residential and commercial mortgage credit, securitized products and related loans.
Earns the spread between interest on its loans and securities and the cost of the short-term borrowing (repo) that funds them, plus gains and losses on the assets. As a REIT it passes most taxable income to shareholders as dividends and pays fees to its external manager, Ellington.
Moat: narrow (process know-how). External manager Ellington's multi-decade structured-credit expertise supports niche sourcing.
Headquarters: Old Greenwich, Connecticut, US · Founded: 2007 · Employees: 170
Size Ellington Financial (EFC) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.45B, the 2018th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.26 on 6 Nov 2026.
Performance Over six months the shares fell 17.3%, against -5.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 30.2% over the last twelve months (peer median +3.6%); the operating margin is 81.2% (peer median 51.2%).
Valuation It trades at 5.9× forward earnings against a peer median of 16.1× (cheapest of 16).
Credit Ellington Financial has 1 bond outstanding ($0).
Short interest Short interest is 8.6% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $630M | $544M | $372M | $352M | $303M |
| Revenue growth | — | +46% | +6% | +16% | — |
| Gross profit | $520M | $449M | $299M | $294M | $265M |
| EBITDA | $512M | $419M | $403M | $323M | $119M |
| Net income | $224M | $147M | $146M | $84.1M | -$70.0M |
| Free cash flow | $950M | $509M | $203M | $114M | $318M |
| Capital expenditure | $168,000 | $0 | $0 | $37,000 | $39.1M |
| Total debt | $18.5B | $17.0B | $14.2B | $13.3B | $12.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ellington Financial EFC | $1.45B | -17% | +30% | 81% | 5.9× | n/a |
| AGNC Investment AGNC | $11.2B | -19% | +152% | 35% | 6.1× | n/a |
| Annaly Capital Management NLY | $14.8B | -17% | +23% | 77% | 6.0× | n/a |
| Two Harbors Investment TWO | n/a | -9% | n/a | n/a | n/a | n/a |
| Chimera Investment CIM | $612M | -46% | +14% | 70% | 3.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EFC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.3% | +1.1% | 6th lowest of 21 |
| 6-month return | -17.3% | -5.5% | 4th lowest of 21 |
| Distance from 52-week high | -20.2% | -16.3% | 8th lowest of 21 |
| Revenue growth (TTM) | +30.2% | +3.6% | 3rd highest of 20 |
| Operating margin | 81.2% | 51.2% | highest of 20 |
| Forward P/E | 5.9× | 16.1× | cheapest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 81% | 5.9× | n/a | n/a |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 51% | 20.9× | n/a | n/a |
| Empire State Realty OP LP Series ES ESBA | United States | $1.46B | -6% | +2% | 16% | n/a | n/a | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 28% | 17.3× | n/a | n/a |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | 46% | n/a | n/a | n/a |
| Lendlease Global Commercial REIT JYEU.SI | Singapore | $1.44B | -3% | +4% | 67% | 16.1× | n/a | n/a |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 28% | 14.6× | n/a | n/a |
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 29% | 14.4× | n/a | n/a |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 64% | 18.0× | n/a | n/a |
| CNAMC China Resources Commercial Asset Closed Infrastructure Real Estate Investment Trust 180601.SZ | China | $1.41B | -6% | n/a | n/a | 24.8× | n/a | n/a |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 73% | 16.2× | n/a | n/a |
| Killam Apartment REIT KMP-UN.TO | Canada | $1.51B | -3% | +5% | 63% | 11.0× | n/a | n/a |
| Innovative Industrial Properties IIPR | United States | $1.51B | -4% | -4% | 47% | 13.4× | n/a | n/a |
| Japan Logistics Fund 8967.T | Japan | $1.52B | -8% | +3% | 53% | 21.0× | n/a | n/a |
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 81% | 13.3× | n/a | n/a |
| Mori Hills Reit Investment 3234.T | Japan | $1.36B | -14% | -1% | 54% | 18.9× | n/a | n/a |
| AEON REIT Investment 3292.T | Japan | $1.36B | -19% | +1% | 35% | n/a | n/a | n/a |
| Comforia Residential REIT 3282.T | Japan | $1.36B | -20% | +17% | 41% | n/a | n/a | n/a |
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | 35% | n/a | n/a | n/a |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 73% | 14.3× | n/a | n/a |
| Esr-reit 9A4U.SI | Singapore | $1.33B | -14% | +5% | 71% | 10.6× | n/a | n/a |
Ellington Financial has 1 bond outstanding with $0 face value.