Granite Point Mortgage Trust Inc. (GPMT) Cash Flow Statement
Where GPMT’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $2.7M −69.5% vs 2024
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $2.7M 1.8% margin
- Returned to shareholders
- $30.4M 1,141% of free cash flow
- Change in cash
- −$34.4M cash at year-end $80.1M
Cash from operations
$2.7M
Acquisitions & other
+$299.0M
Dividends
−$24.8M
Share buybacks (net)
−$5.7M
Net borrowing (repayment)
−$142.6M
Other financing
−$163.0M
Change in cash
−$34.4M
Drawn to scale: where the cash came from and how it was used. Hover for values.
GPMT operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
GPMT cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $35.5M2016 | $2.7M2025 | −25.0%/yr | |
| Capital expenditures | $760.7M2016 | $02025 | −100.0% | |
| Free cash flow | $35.5M2016 | $2.7M2025 | −25.0%/yr | |
| Free cash flow margin | 71.9%2016 | 1.8%2025 | −70.0 pts | |
| Operating cash flow / net income | 1.002016 | 0.882021 | −0.12 | |
| Stock-based compensation | $1.1M2017 | $1.0M2025 | −0.5%/yr | |
| Dividends paid | $532.1M2016 | $24.8M2025 | −28.9%/yr | |
| Share buybacks (net) | $104.2M2016 | $5.7M2025 | −27.6%/yr | |
| Capex / revenue | 1,540.0%2016 | 0.0%2025 | −1,540.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GPMT cash flow by activity
OperatingInvestingFinancingChange in cash
GPMT net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
GPMT cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$41.2M | −$207.1M | −$63.2M | −$40.8M | $68.4M | −$40.4M | $70.2M | $63.1M | $53.3M | $35.4M |
| Depreciation & amortization | $8.0M | $6.5M | $3.5M | $12.4M | $16.6M | $6.4M | $266,000 | $19,000 | $19,000 | $19,000 |
| Stock-based compensation | $1.0M | $6.6M | $7.0M | $7.0M | $7.6M | $5.3M | $4.8M | $3.5M | $1.1M | — |
| Change in working capital | −$2.1M | −$2.3M | $60,000 | $2.1M | $4.0M | −$5.7M | −$3.3M | $4.9M | −$20.5M | $6.0M |
| Other non-cash items | $36.9M | $205.0M | $104.8M | $78.2M | −$36.2M | $54.7M | −$7.8M | −$9.1M | −$3.4M | −$5.9M |
| Cash from operating activities | $2.7M | $8.8M | $52.1M | $58.9M | $60.3M | $20.3M | $64.2M | $62.4M | $30.5M | $35.5M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | −$2.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$760.7M |
| Investments (net) | $0 | $435.2M | $625.3M | $409.3M | $143.9M | $341.6M | −$1.03B | −$835.3M | −$925.7M | −$757.4M |
| Acquisitions & other investing | $299.0M | $2.8M | −$63.9M | −$689,000 | −$4.1M | $0 | $0 | $0 | $0 | $760.7M |
| Cash from investing activities | $299.0M | $435.2M | $561.4M | $408.6M | $139.8M | $341.6M | −$1.03B | −$835.3M | −$925.7M | −$757.4M |
| Financing activities | ||||||||||
| Dividends paid | −$24.8M | −$38.4M | −$57.3M | −$65.9M | −$66.8M | −$34.2M | −$86.4M | −$68.7M | −$13.9M | −$532.1M |
| Share repurchases & issuance (net) | −$5.7M | −$7.6M | −$11.3M | −$15.7M | −$17.8M | $4.5M | $1.55B | $900.6M | −$60.3M | −$104.2M |
| Net borrowing (repayment) | −$142.6M | −$201.7M | −$340.4M | −$874.1M | $713.9M | $52.3M | −$182.7M | $220.9M | $598.1M | $818.2M |
| Shares issued | $0 | $0 | $0 | $87.5M | $110.5M | $109,000 | $207.5M | $3.1M | $0 | $0 |
| Other financing | −$163.0M | −$281.0M | −$145.5M | $336.5M | −$1.06B | −$215.3M | −$480.1M | −$265.4M | $425.7M | $539.9M |
| Cash from financing activities | −$336.1M | −$528.7M | −$554.5M | −$531.7M | −$325.0M | −$192.4M | $1.01B | $790.6M | $949.6M | $721.8M |
| Summary | ||||||||||
| Net change in cash | −$34.4M | −$84.7M | $59.1M | −$64.1M | −$124.9M | $169.4M | $36.3M | $12.7M | $54.4M | −$59,000 |
| Cash at end of period | $80.1M | $114.5M | $199.2M | $140.2M | $204.3M | $329.2M | $159.8M | $123.4M | $110.7M | $56.3M |
| Free cash flow | $2.7M | $6.0M | $52.1M | $58.9M | $60.3M | $20.3M | $64.2M | $57.4M | $19.4M | $35.5M |
| Free cash flow margin | 1.8% | — | — | 75.3% | 68.9% | 19.3% | 60.1% | 62.7% | 26.3% | 71.9% |
| Capex / revenue | 0.0% | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1,540.0% |
| Operating cash flow / net income | — | — | — | — | 0.88 | — | 0.91 | 0.99 | 0.57 | 1.00 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$58.2M | −$2.6M | −$23.8M | $3.0M | −$13.4M | −$7.0M | −$38.8M | −$31.2M | −$63.1M | −$74.1M | −$13.5M | −$20.9M |
| Depreciation & amortization | $3.3M | $2.0M | $2.2M | $2.2M | $2.2M | $1.5M | $1.9M | $2.0M | $1.2M | $1.3M | $1.4M | $1.4M |
| Stock-based compensation | $1.1M | $910,000 | $1.0M | $896,000 | $2.2M | $2.4M | $400,000 | $2.5M | $1.5M | $2.2M | $1.1M | $1.6M |
| Change in working capital | $1.9M | −$1.4M | $3.8M | $662,000 | −$994,000 | −$5.5M | −$866,000 | $1.6M | $74,000 | −$3.0M | −$3.4M | $3.1M |
| Other non-cash items | $52.4M | −$1.4M | $18.5M | −$2.3M | $10.7M | $3.0M | $37.4M | $31.2M | $61.3M | $75.3M | $24.1M | $30.9M |
| Cash from operating activities | $509,000 | −$2.4M | $1.7M | $4.5M | $736,000 | −$5.7M | $30,000 | $6.1M | $987,000 | $1.7M | $9.7M | $16.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −$617,000 | −$2.3M | −$2.3M | −$769,000 | −$1.7M | −$303,000 | −$801,000 | −$2.0M | $0 | $0 | $0 | $0 |
| Investments (net) | $0 | $0 | $3.2M | $90.3M | $95.6M | $80.1M | $136.0M | $236.4M | $45.7M | $17.1M | $173.5M | $156.7M |
| Acquisitions & other investing | $90.9M | $176.0M | $32.1M | $769,000 | $1.7M | $303,000 | $801,000 | $2.0M | $0 | $0 | $0 | $0 |
| Cash from investing activities | $90.2M | $173.6M | $33.0M | $90.3M | $95.6M | $80.1M | $136.0M | $236.4M | $45.7M | $17.1M | $173.5M | $156.7M |
| Financing activities | ||||||||||||
| Dividends paid | −$6.2M | −$6.2M | −$6.2M | −$6.2M | −$6.2M | −$6.2M | −$6.3M | −$6.3M | −$11.6M | −$14.1M | −$14.3M | −$14.3M |
| Share repurchases & issuance (net) | −$306,000 | −$306,000 | $0 | $0 | −$3.1M | −$2.5M | −$4.0M | −$2.0M | −$1.6M | −$1.2M | −$5.2M | $0 |
| Net borrowing (repayment) | $13.0M | −$108.0M | −$23.3M | −$74.2M | −$30.0M | −$15.2M | −$26.4M | −$122.2M | — | — | — | −$151.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$34.0M | −$92.6M | $945,000 | −$36.5M | −$61.6M | −$64.4M | −$109.5M | −$86.0M | −$102.7M | −$34.6M | −$248.0M | −$86,000 |
| Cash from financing activities | −$27.4M | −$207.1M | −$28.5M | −$116.8M | −$100.9M | −$88.4M | −$146.3M | −$216.5M | −$116.0M | −$49.9M | −$267.5M | −$166.0M |
| Summary | ||||||||||||
| Net change in cash | $63.3M | −$35.9M | $6.2M | −$22.0M | −$4.5M | −$14.0M | −$10.2M | $25.9M | −$69.2M | −$31.2M | −$84.3M | $6.7M |
| Cash at end of period | $107.5M | $44.2M | $80.1M | $73.9M | $95.9M | $100.4M | $114.5M | $124.7M | $98.8M | $168.0M | $199.2M | $283.5M |
| Free cash flow | −$108,000 | −$4.7M | −$657,000 | $4.5M | −$991,000 | −$6.0M | −$771,000 | $4.1M | $987,000 | $1.7M | $9.7M | $16.0M |
| Free cash flow margin | −0.4% | −16.3% | −2.0% | 12.4% | −2.7% | −59.5% | −8.1% | 40.2% | 12.6% | 13.4% | 56.3% | 81.3% |
| Capex / revenue | 2.4% | 8.0% | 7.3% | 2.1% | 4.7% | 3.0% | 8.5% | 19.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | — | — | 1.49 | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
GPMT cash generation
In fiscal 2025 (ended December 31, 2025), Granite Point Mortgage generated $2.7 million of cash from operations (down 69.5%) and spent $0 on capital expenditures, leaving free cash flow of $2.7 million, 1.8% of revenue. It returned $30.4 million to shareholders through dividends ($24.8 million) and net share buybacks ($5.7 million). Cash and equivalents fell by $34.4 million over the year.
Related: GPMT income statement, GPMT balance sheet, GPMT dividend history. See the GPMT stock overview for the latest quote and news.
GPMT cash flow FAQ
What is Granite Point Mortgage's free cash flow?
Granite Point Mortgage's free cash flow was $2.7 million in fiscal 2025: $2.7 million of operating cash flow minus $0 of capital expenditures It was $6.0 million a year earlier..
How much cash does Granite Point Mortgage generate from operations?
Granite Point Mortgage generated $2.7 million of cash from operating activities in fiscal 2025.
How much stock does Granite Point Mortgage buy back?
Granite Point Mortgage spent $5.7 million on net share repurchases in fiscal 2025.
How much does Granite Point Mortgage pay in dividends?
Granite Point Mortgage paid $24.8 million in dividends in fiscal 2025, 928.8% of free cash flow.