ARMOUR Residential REIT, Inc. (ARR) Income Statement
ARR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsARR revenue and net income
Where ARR's revenue goes
2025Each bar shows an amount and its share of revenue. ARR kept 24.7% of revenue as net income.
ARR profit margins
ARR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +444.1% | — | — | +72.0% |
| Gross profit | +512.5% | — | — | — |
| Operating income | +89.3% | — | — | +42.4% |
| Net income | — | — | — | — |
| EPS (diluted) | −16.8% | −13.5% | −2.4% | −14.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ARR quarterly EPS vs estimates
ARMOUR Residential REIT beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: October 28, 2026 (estimate $0.73).
ARR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $239.9M | $449.7M | $0 | $19.2M | $0 | $0 | $0 | $124.7M | $0 |
| Cost of revenue | $38.9M | $33.1M | $31.6M | $26.0M | −$1.5M | $22.2M | $216.6M | $154.2M | $94.6M | $73.1M |
| Gross profit | $1.27B | $206.8M | $418.1M | −$903.9M | $19.2M | −$44.4M | −$433.2M | −$68.9M | $124.7M | −$99.7M |
| Research & development | — | — | $0 | $0 | $3 | $1 | $1 | $3 | $1 | $0 |
| Sales, general & admin | $42.4M | $4.7M | $4.9M | $5.5M | $7.4M | $6.3M | $4.6M | $4.4M | $3.1M | $3.3M |
| Total operating expenses | $301.6M | −$303.0M | −$39.8M | −$799.0M | $5.1M | $5.3M | $3.1M | $4.1M | $6.9M | $7.5M |
| Operating income | $964.8M | $509.8M | $457.9M | −$105.0M | $15.4M | −$215.1M | −$249.9M | $48.3M | $275.7M | $27.6M |
| Interest income | $800.4M | $550.9M | $479.4M | $228.4M | $80.8M | $169.8M | $439.6M | $283.1M | $254.4M | $264.0M |
| Interest expense | $642.1M | $524.1M | $525.8M | $120.8M | $7.1M | $63.0M | $288.2M | $154.2M | $94.6M | $73.1M |
| Income before taxes | $322.7M | −$14.4M | −$67.9M | −$229.9M | $15.4M | −$215.1M | −$249.9M | −$106.0M | $181.2M | −$45.5M |
| Income taxes | — | — | −$67.9M | $120.8M | $11.5M | $9.8M | $15.6M | $17.0M | $197.0M | −$36.4M |
| Net income | $322.7M | −$14.4M | −$67.9M | −$229.9M | $3.9M | −$224.9M | −$265.5M | −$123.0M | $165.3M | −$61.1M |
| EBITDA | $966.8M | $509.8M | $457.9M | −$92.6M | $63.5M | −$161.8M | −$196.0M | $48.3M | $275.7M | $27.6M |
| EPS (diluted) | $3.06 | $3.68 | $4.65 | $4.72 | $3.72 | $3.45 | $11.70 | $10.39 | $11.03 | $10.86 |
| Gross margin | 97.0% | 86.2% | 93.0% | — | 100.0% | — | — | — | 100.0% | — |
| Operating margin | 73.9% | 212.5% | 101.8% | — | 80.1% | — | — | — | 221.0% | — |
| Net margin | 24.7% | −6.0% | −15.1% | — | 20.3% | — | — | — | 132.5% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $210.8M | $56.0M | $349.0M | $393.5M | $194.5M | $368.2M | $0 | $411.5M | $36.2M | $14.7M | $550.5M | $0 |
| Cost of revenue | $12.5M | $12.2M | $10.3M | $10.1M | $9.4M | $9.1M | $8.6M | $8.3M | $8.2M | $8.2M | $8.1M | $8.1M |
| Gross profit | $198.3M | $43.7M | $338.7M | $383.4M | $185.1M | $359.1M | −$231.0M | $403.2M | $28.0M | $6.5M | $542.4M | −$317.3M |
| Sales, general & admin | $12.5M | $953,000 | $10.3M | $926,000 | $888,000 | $811,000 | $1.0M | $1.1M | $1.1M | $1.4M | $1.3M | $8.1M |
| Total operating expenses | −$103.6M | $3.1M | −$59.1M | $52.5M | $113.0M | $195.2M | −$324.4M | $212.1M | −$46.6M | −$144.2M | $302.4M | −$288.1M |
| Operating income | $301.9M | $40.6M | $397.8M | $330.9M | $72.2M | $163.9M | $93.4M | $191.1M | $74.6M | $150.7M | $240.0M | −$29.1M |
| Interest income | $263.9M | $249.2M | $236.5M | $210.2M | $180.9M | $172.9M | $152.5M | $127.1M | $129.9M | $141.5M | $146.2M | $153.6M |
| Interest expense | $187.1M | $178.5M | $186.1M | $171.7M | $147.8M | $136.5M | $139.8M | $125.2M | $123.0M | $136.1M | $140.4M | $150.0M |
| Income before taxes | $114.8M | −$54.9M | $211.7M | $159.3M | −$75.6M | $27.3M | −$46.4M | $65.9M | −$48.4M | $14.5M | $99.6M | −$179.2M |
| Income taxes | — | — | — | — | — | $27.3M | — | — | −$48.4M | $14.5M | −$42,000 | −$179.2M |
| Net income | $114.8M | −$54.9M | $211.7M | $159.3M | −$75.6M | $27.3M | −$46.4M | $65.9M | −$48.4M | $14.5M | $99.6M | −$179.2M |
| EBITDA | $301.9M | −$39.1M | $400.3M | $330.9M | $72.2M | $163.9M | $93.4M | $191.1M | $74.6M | $150.7M | $240.0M | −$29.1M |
| EPS (diluted) | $0.72 | −$0.49 | $0.71 | $0.72 | $0.77 | $0.86 | $0.78 | $1.00 | $1.08 | $0.82 | $1.07 | $1.08 |
| Gross margin | 94.1% | 78.2% | 97.1% | 97.4% | 95.2% | 97.5% | — | 98.0% | 77.5% | 44.4% | 98.5% | — |
| Operating margin | 143.2% | 72.6% | 114.0% | 84.1% | 37.1% | 44.5% | — | 46.4% | 206.1% | 1,028.2% | 43.6% | — |
| Net margin | 54.5% | −98.0% | 60.7% | 40.5% | −38.9% | 7.4% | — | 16.0% | −133.5% | 99.1% | 18.1% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ARR's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ARR financial results
In fiscal year 2025 (ended December 31, 2025), ARMOUR Residential REIT reported revenue of $1.3 billion, up 444.1% from the year before. It had net income of $322.7 million, a net profit margin of 24.7%. Diluted earnings per share came to $3.06.
See the ARR stock overview for the latest quote and news, or the ARR chart for price history and technical indicators.
ARR income statement FAQ
What is ARMOUR Residential REIT's annual revenue?
ARMOUR Residential REIT reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 444.1% from $239.9 million the previous year.
Is ARMOUR Residential REIT profitable?
Yes. ARMOUR Residential REIT reported net income of $322.7 million in fiscal 2025, a net profit margin of 24.7%; its operating margin was 73.9%.
What is ARMOUR Residential REIT's gross margin?
ARMOUR Residential REIT's gross margin was 97.0% in fiscal 2025: for every $100 of revenue, ARMOUR Residential REIT kept $97 after the direct cost of its products and services.
What are ARMOUR Residential REIT's earnings per share?
ARMOUR Residential REIT earned $3.06 per diluted share in fiscal 2025, compared with $3.68 a year earlier.
When will ARMOUR Residential REIT report its next earnings?
ARMOUR Residential REIT is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does ARMOUR Residential REIT's fiscal year end?
ARMOUR Residential REIT's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.