Ladder Capital Corp (LADR) Income Statement
LADR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLADR revenue and net income
Where LADR's revenue goes
2025Each bar shows an amount and its share of revenue. LADR kept 16.4% of revenue as net income.
LADR profit margins
LADR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −23.3% | −10.3% | +1.8% | −1.0% |
| Gross profit | −28.7% | −13.1% | +3.3% | −1.2% |
| Operating income | −26.8% | −12.5% | +5.7% | +4.2% |
| Net income | −40.7% | −23.3% | — | −1.4% |
| EPS (diluted) | −29.8% | −10.1% | +7.6% | −7.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LADR quarterly EPS vs estimates
Ladder Capital beat the analyst EPS estimate in 5 of the last 8 quarters.
LADR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $392.3M | $511.2M | $525.1M | $543.7M | $358.2M | $358.1M | $501.9M | $600.6M | $456.7M | $394.3M |
| Cost of revenue | $110.8M | $116.3M | $109.9M | $114.7M | $111.3M | $118.5M | $109.2M | $115.3M | $117.3M | $112.3M |
| Gross profit | $281.5M | $394.9M | $415.2M | $429.0M | $246.9M | $239.7M | $392.7M | $485.4M | $339.4M | $282.0M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $52.7M | $60.7M | $65.8M | $75.8M | $38.3M | $58.1M | $67.8M | $60.1M | $70.5M | $64.3M |
| Total operating expenses | $38.2M | $62.6M | $76.9M | $65.3M | $7.7M | $55.5M | $254.1M | $55.8M | $200.5M | $163.0M |
| Operating income | $243.4M | $332.3M | $338.4M | $363.7M | $239.2M | $184.2M | $138.6M | $429.5M | $138.9M | $118.9M |
| Interest income | $266.9M | $358.6M | $401.4M | $293.5M | $176.1M | $239.8M | $330.2M | $344.8M | $263.7M | $236.4M |
| Interest expense | $174.9M | $221.5M | $245.1M | $195.6M | $182.9M | $227.5M | $204.4M | $194.3M | $146.1M | $120.8M |
| Income before taxes | $67.2M | $110.9M | $104.7M | $170.2M | $57.8M | −$19.2M | $139.6M | $228.3M | $133.6M | $120.0M |
| Income taxes | $3.5M | $3.4M | $4.2M | $4.9M | $928,000 | −$9.8M | $2.6M | $6.6M | $7.7M | $6.3M |
| Net income | $64.2M | $108.3M | $101.1M | $142.2M | $56.5M | −$14.4M | $122.6M | $180.0M | $95.3M | $66.7M |
| EBITDA | $274.1M | $364.8M | $378.0M | $396.7M | $276.7M | $245.1M | $381.2M | $462.8M | $319.3M | $280.2M |
| EPS (diluted) | $0.85 | $1.21 | $1.34 | $1.17 | $0.49 | $0.59 | $1.61 | $2.04 | $1.55 | $1.47 |
| Gross margin | 71.8% | 77.2% | 79.1% | 78.9% | 68.9% | 66.9% | 78.3% | 80.8% | 74.3% | 71.5% |
| Operating margin | 62.0% | 65.0% | 64.4% | 66.9% | 66.8% | 51.4% | 27.6% | 71.5% | 30.4% | 30.2% |
| Net margin | 16.4% | 21.2% | 19.3% | 26.2% | 15.8% | −4.0% | 24.4% | 30.0% | 20.9% | 16.9% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $78.2M | $103.3M | $96.3M | $102.4M | $98.2M | $91.5M | $121.2M | $129.6M | $118.7M | $128.8M | $121.9M |
| Cost of revenue | — | $55.6M | $30.2M | $28.1M | $29.4M | $27.9M | $25.4M | $27.2M | $29.5M | $31.0M | $28.6M | $27.3M |
| Gross profit | — | $22.6M | $73.1M | $68.2M | $73.0M | $70.3M | $66.1M | $94.0M | $100.1M | $87.7M | $100.2M | $94.6M |
| Sales, general & admin | — | $17.4M | $22.3M | $10.9M | $11.6M | $11.6M | $18.8M | $11.8M | $14.4M | $13.7M | $20.8M | $13.0M |
| Total operating expenses | $4.9M | $41.4M | $18.5M | $7.0M | $8.4M | $8.0M | $14.7M | $10.0M | $14.3M | $15.0M | $23.3M | $15.5M |
| Operating income | $30.7M | −$18.9M | $54.6M | $61.2M | $64.6M | $62.3M | $51.4M | $84.0M | $85.8M | $72.7M | $77.0M | $79.1M |
| Interest income | — | $78.2M | $74.2M | $68.1M | $71.8M | $62.7M | $64.3M | $78.1M | $96.1M | $88.5M | $95.9M | $100.6M |
| Interest expense | $51.6M | $55.6M | $51.2M | $45.7M | $44.0M | $41.2M | $44.0M | $50.9M | $57.7M | $54.2M | $58.8M | $60.7M |
| Income before taxes | $67.3M | $16.3M | $3.2M | $15.5M | $20.1M | $20.8M | $10.7M | $33.0M | $28.5M | $31.0M | $18.4M | $18.4M |
| Income taxes | $1.4M | $1.7M | $566,000 | −$343,000 | $960,000 | $3.7M | −$838,000 | $1.7M | $901,000 | −$1.1M | $1.9M | −$670,000 |
| Net income | $65.9M | $14.6M | $2.6M | $15.9M | $19.2M | $17.3M | $11.8M | $31.4M | $27.9M | $32.3M | $16.6M | $19.2M |
| EBITDA | $127.0M | −$9.7M | $63.3M | $69.4M | $72.0M | $69.7M | $61.6M | $91.0M | $93.9M | $93.2M | $85.0M | $86.4M |
| EPS (diluted) | $0.35 | $0.21 | $0.22 | $0.17 | $0.25 | $0.23 | $0.20 | $0.27 | $0.30 | $0.31 | $0.33 | $0.32 |
| Gross margin | — | 28.9% | 70.7% | 70.9% | 71.3% | 71.6% | 72.2% | 77.5% | 77.2% | 73.9% | 77.8% | 77.6% |
| Operating margin | — | −24.1% | 52.9% | 63.6% | 63.1% | 63.4% | 56.1% | 69.3% | 66.2% | 61.2% | 59.7% | 64.9% |
| Net margin | — | 18.6% | 2.5% | 16.5% | 18.7% | 17.6% | 12.9% | 25.9% | 21.5% | 27.2% | 12.9% | 15.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LADR's financial statements (latest annual report filed February 9, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LADR financial results
In fiscal year 2025 (ended December 31, 2025), Ladder Capital reported revenue of $392.3 million, down 23.3% from the year before. It had net income of $64.2 million (down 40.7%), a net profit margin of 16.4%. Diluted earnings per share came to $0.85. Over five years revenue grew at an average rate of 1.8% a year.
See the LADR stock overview for the latest quote and news, or the LADR chart for price history and technical indicators.
LADR income statement FAQ
What is Ladder Capital's annual revenue?
Ladder Capital reported total revenue of $392.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 23.3% from $511.2 million the previous year.
Is Ladder Capital profitable?
Yes. Ladder Capital reported net income of $64.2 million in fiscal 2025, a net profit margin of 16.4%; its operating margin was 62.0%.
What is Ladder Capital's gross margin?
Ladder Capital's gross margin was 71.8% in fiscal 2025: for every $100 of revenue, Ladder Capital kept $72 after the direct cost of its products and services.
How fast is Ladder Capital growing?
Revenue grew 1.8% a year on average over the last five fiscal years, from $358.1 million to $392.3 million.
What are Ladder Capital's earnings per share?
Ladder Capital earned $0.85 per diluted share in fiscal 2025, compared with $1.21 a year earlier.
When does Ladder Capital's fiscal year end?
Ladder Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 9, 2026.