ARMOUR Residential REIT, Inc. (ARR) Key Metrics
ARR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.87B
- Enterprise value
- $19.75B
- P/E (TTM)
- 3.3
- Forward P/E
- 5.1
- PEG ratio
- 2.97
- Price / sales
- 3.8 10-yr median 1.8
- Price / book
- 0.8 10-yr median 0.7
- EV / EBITDA
- 9.8 10-yr median 22.4
- Dividend yield
- 21.82% $2.88 a year
- Beta
- 1.40
ARR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARR valuation Price multiples at each fiscal year-end price.
ARR returns How much profit the business earns on the capital it uses.
ARR per-share figures Results divided by the shares outstanding at year-end.
ARR financial health Debt, liquidity and how easily interest is covered.
ARR efficiency & capital use Working capital cycle and where the cash goes.
ARR valuation history
ARR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARR cash returned to shareholders
ARR price vs earnings per share
ARR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.67B | $983.7M | $831.8M | — | — | — | — | — | — | — |
| Enterprise value | $19.55B | $11.63B | $10.26B | — | — | — | — | — | — | — |
| P/E ratio | 5.2 | — | — | — | — | — | — | — | — | — |
| Price / sales | 1.3 | 4.1 | 1.8 | — | — | — | — | — | — | — |
| Price / book | 0.7 | 0.7 | 0.7 | — | — | — | — | — | — | — |
| Price / free cash flow | 13.4 | 3.8 | 6.3 | — | — | — | — | — | — | — |
| Price / operating cash flow | 13.4 | 3.8 | 6.3 | — | — | — | — | — | — | — |
| EV / sales | 15.0 | 48.5 | 22.8 | — | — | — | — | — | — | — |
| EV / EBITDA | 20.2 | 22.8 | 22.4 | — | — | — | — | — | — | — |
| EV / free cash flow | 157.4 | 44.5 | 77.2 | — | — | — | — | — | — | — |
| Earnings yield | 19.4% | −1.5% | −8.2% | — | — | — | — | — | — | — |
| Free cash flow yield | 7.4% | 26.6% | 16.0% | — | — | — | — | — | — | — |
| Dividend yield | 17.0% | 16.6% | 27.4% | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 18.2% | 16.7% | 28.6% | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $17.69 | $18.86 | $19.32 | $28.15 | $49.05 | $53.95 | $89.35 | $102.50 | $128.60 | $108.45 |
| Per share | ||||||||||
| Revenue per share | $13.85 | $4.60 | $10.44 | — | — | — | — | — | — | — |
| Earnings per share | $3.42 | −$0.28 | −$1.58 | — | — | — | — | — | — | — |
| Operating cash flow per share | $1.32 | $5.01 | $3.08 | — | — | — | — | — | — | — |
| Free cash flow per share | $1.32 | $5.01 | $3.08 | — | — | — | — | — | — | — |
| Cash per share | $0.67 | $1.30 | $5.15 | — | — | — | — | — | — | — |
| Book value per share | $23.99 | $26.10 | $29.53 | — | — | — | — | — | — | — |
| Tangible book value per share | $23.99 | $26.10 | $29.53 | — | — | — | — | — | — | — |
| Dividends per share | $3.01 | $3.12 | $5.30 | — | — | — | — | — | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| Debt per share | $190.33 | $205.44 | $224.09 | — | — | — | — | — | — | — |
| Shares outstanding | 94.3M | 52.2M | 43.1M | — | — | — | — | — | — | — |
| Change in shares outstanding | +80.7% | +21.1% | — | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.8% | −1.1% | −5.7% | −7.2% | 0.1% | −2.4% | −3.7% | −10.0% | 13.7% | −5.3% |
| Return on invested capital (ROIC) | 4.7% | 3.5% | 4.0% | −1.0% | 0.1% | −2.0% | −2.9% | 3.7% | 11.9% | 3.0% |
| Return on assets (ROA) | 1.9% | −0.1% | −0.6% | −3.1% | 0.1% | −2.4% | −2.4% | −1.4% | 2.0% | −0.6% |
| Return on tangible assets | 1.5% | −0.1% | −0.6% | −2.4% | 0.1% | −4.1% | −2.0% | −1.5% | 1.9% | −0.8% |
| Free cash flow margin | 9.5% | 109.0% | 29.5% | — | 61.2% | — | — | — | 88.3% | — |
| Income quality (OCF / net income) | 0.38 | — | — | — | 3.02 | — | — | — | 0.67 | — |
| Financial health | ||||||||||
| Total debt | $17.94B | $10.72B | $9.65B | $6.48B | $3.96B | $4.54B | $11.43B | $7.06B | $7.56B | $6.87B |
| Cash & short-term investments | $63.3M | $68.0M | $221.9M | $87.3M | $338.0M | $5.35B | $12.12B | $7.27B | $7.74B | $6.78B |
| Net debt | $17.88B | $10.65B | $9.43B | $6.39B | $3.62B | −$808.7M | −$696.6M | −$211.5M | −$180.3M | $85.2M |
| Debt / equity | 7.94 | 7.87 | 7.59 | 5.82 | 0.75 | 0.82 | 0.86 | 6.28 | 5.70 | 6.29 |
| Debt / assets | 0.85 | 0.79 | 0.78 | 0.69 | 0.75 | 0.82 | 0.86 | 0.83 | 0.85 | 0.86 |
| Net debt / EBITDA | 18.49 | 20.89 | 20.59 | — | 57.03 | — | — | −4.38 | −0.65 | 3.09 |
| Current ratio | 0.01 | 0.01 | 1.11 | 18.13 | 87.00 | — | 342.27 | 525.81 | 825.51 | 478.50 |
| Quick ratio | 0.01 | 0.01 | 1.11 | — | 891.44 | — | 333.60 | 549.74 | 832.35 | 452.49 |
| Interest coverage | 1.5 | 1.0 | 0.9 | -0.9 | 2.2 | -3.4 | -0.9 | 0.3 | 2.9 | 0.4 |
| Working capital | −$17.79B | −$11.96B | $1.24B | $109.7M | $344.0M | $5.35B | $12.12B | $7.28B | $7.76B | $6.79B |
| Invested capital | $20.14B | $12.01B | $10.70B | $7.50B | $8.89B | $4.71B | $12.54B | $913.8M | $1.15B | $1.18B |
| Tangible asset value | $2.26B | $1.36B | $1.27B | $1.11B | $5.27B | $5.52B | $13.24B | $1.13B | $1.33B | $1.09B |
| Net current asset value | −$18.59B | −$12.07B | $1.27B | −$8.21B | $344.0M | $5.35B | $12.12B | −$43.2M | $163.5M | −$84.7M |
| Graham number | $42.98 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$197.48 | −$231.58 | −$251.22 | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $283.5M | $162.9M | $228.2M | $154.4M | $108.1M | $85.3M | $140.1M | $114.1M | $105.3M | $126.6M |
| Share buybacks (net) | $19.9M | $1.3M | $9.9M | $7.7M | $0 | $210.4M | $71.5M | $0 | $0 | $14.7M |
| Dividend payout ratio | 87.8% | — | — | — | — | — | — | — | 63.7% | — |
| Dividends + buybacks / free cash flow | 244.3% | 62.8% | 179.3% | 130.6% | 921.0% | — | — | 151.6% | 95.6% | 1.9% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | 0.0% | — | — | — | 0.0% | — |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | 0.0% | 0.0% | — |
| Capex / depreciation | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 89.69 |
| Stock-based compensation / revenue | 0.2% | 1.4% | 0.7% | — | 24.9% | — | — | — | 0.8% | — |
| R&D / revenue | — | — | 0.0% | — | 0.0% | — | — | — | 0.0% | — |
| SG&A / revenue | 3.3% | 2.0% | 1.1% | — | 38.6% | — | — | — | 2.5% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 19.4 | 76.1 | 30.8 | — | 217.4 | — | — | — | 59.4 | — |
| Days of inventory on hand | — | — | — | -85,810.6 | 793,673.5 | -24,275.2 | -20.1 | -469.2 | 589.2 | 2,391.3 |
| Days payables outstanding | 201.2 | 434.6 | 388.2 | 231.3 | -1,003.9 | 326.4 | 41.6 | 27.6 | 45.6 | 101.2 |
| Cash conversion cycle (days) | -181.7 | -358.5 | -357.4 | — | 794,894.8 | — | — | — | 603.0 | — |
| Receivables turnover | 18.78 | 4.80 | 11.85 | 0.00 | 1.68 | 0.00 | 0.00 | 0.00 | 6.14 | 0.00 |
| Payables turnover | 1.81 | 0.84 | 0.94 | 1.58 | −0.36 | 1.12 | 8.77 | 13.25 | 8.01 | 3.61 |
| Inventory turnover | — | — | — | — | — | — | — | — | — | 0.15 |
| Asset turnover | 0.08 | 0.02 | 0.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| Average receivables | $69.5M | $50.0M | $38.0M | $19.4M | $11.4M | $24.0M | $28.8M | $22.3M | $20.3M | $26.5M |
| Average payables | $21.4M | $39.5M | $33.6M | $16.5M | $4.1M | $19.9M | $24.7M | $11.6M | $11.8M | $20.3M |
| Average inventory | — | — | — | −$6.11B | −$3.24B | −$1.48B | −$11.9M | −$198.3M | $152.6M | $479.0M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ARR's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), ARMOUR Residential REIT traded at 5.2 times earnings. Based on the latest twelve months, the trailing P/E is 3.3 and the forward P/E is 5.1. ARMOUR Residential REIT earned a return on equity of 17.8% and a return on invested capital of 4.7% in fiscal 2025. It ended the year with $17.9 billion of debt and $63.3 million in cash and short-term investments, net debt of $17.9 billion. It returned $303.4 million to shareholders: $283.5 million in dividends and $19.9 million in share buybacks, 244% of free cash flow.
See the ARR income statement, the ARR chart for price history, or the ARR stock overview for the latest quote and news.
ARR key metrics FAQ
What is ARMOUR Residential REIT's P/E ratio?
ARMOUR Residential REIT's trailing P/E ratio is 3.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 5.1. At the end of fiscal 2025 it was 5.2.
What is ARMOUR Residential REIT's EV/EBITDA?
ARMOUR Residential REIT's enterprise value was 20.2 times EBITDA at the end of fiscal 2025 (enterprise value $19.5 billion, EBITDA $966.8 million); the current EV/EBITDA is 9.8.
What is ARMOUR Residential REIT's return on equity?
ARMOUR Residential REIT's return on equity (ROE) was 17.8% in fiscal 2025: net income of $322.7 million on average shareholders' equity of $1.8 billion.
What is ARMOUR Residential REIT's ROIC?
ARMOUR Residential REIT's return on invested capital was 4.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ARMOUR Residential REIT have?
ARMOUR Residential REIT had total debt of $17.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 7.94 and $17.9 billion of net debt (18.49 times EBITDA).
What is ARMOUR Residential REIT's dividend yield?
ARMOUR Residential REIT's forward dividend yield is 21.82%. ARMOUR Residential REIT paid $283.5 million in dividends in fiscal 2025 ($3.01 per share), a payout ratio of 87.8%.
Does ARMOUR Residential REIT buy back its shares?
Yes. ARMOUR Residential REIT spent $19.9 million on net share repurchases in fiscal 2025 Shares outstanding changed +80.7% over the year, to 94.3M..
What is ARMOUR Residential REIT's free cash flow yield?
ARMOUR Residential REIT generated $124.2 million of free cash flow in fiscal 2025, a free cash flow yield of 7.4% on its market value at year-end ($1.7 billion).
What is ARMOUR Residential REIT's current ratio?
ARMOUR Residential REIT's current ratio was 0.01 at the end of fiscal 2025: current assets were 0.01 times current liabilities.