Ellington Residential Mortgage REIT (EARN) Key Metrics
EARN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $136.0M
- Enterprise value
- $314.4M
- P/E (TTM)
- — 10-yr median 11.5
- Forward P/E
- 5.8
- PEG ratio
- —
- Price / sales
- 3.3 10-yr median 4.5
- Price / book
- 0.7 10-yr median 0.8
- EV / EBITDA
- — 10-yr median 75.9
- Dividend yield
- 27.75% $0.96 a year
- Beta
- 1.30
EARN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsEARN valuation Price multiples at each fiscal year-end price.
Price / sales+31.0%
4.7
2025 · hover or tap a bar for each year
20162025
Price / book+38.7%
1.3
2025 · hover or tap a bar for each year
20162025
Price / free cash flow−98.1%
0.4
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+268.1 pts
273.1%
2025 · hover or tap a bar for each year
20162025
EARN returns How much profit the business earns on the capital it uses.
Return on equity−12.3 pts
−8.3%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−2.1 pts
−1.3%
2025 · hover or tap a bar for each year
20162025
Return on assets−3.1 pts
−2.4%
2025 · hover or tap a bar for each year
20162025
Asset turnover+22.8%
0.07
2025 · hover or tap a bar for each year
20162025
EARN per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−39.3%
$1.13
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$0.38
2025 · hover or tap a bar for each year
20162025
Free cash flow per share+4,190.8%
$14.39
2025 · hover or tap a bar for each year
20162025
Book value per share−42.6%
$4.09
2025 · hover or tap a bar for each year
20162025
Dividends per share+16.9%
$0.96
2025 · hover or tap a bar for each year
20162025
Shares outstanding+38.3%
37.6M
2025 · hover or tap a bar for each year
20162025
EARN financial health Debt, liquidity and how easily interest is covered.
Debt / equity−50.7%
1.43
2025 · hover or tap a bar for each year
20162025
Net debt−$368.6M
$162.5M
2025 · hover or tap a bar for each year
20162025
Current ratio+262.1%
0.46
2025 · hover or tap a bar for each year
20162025
Interest coverage
-0.8
2025 · hover or tap a bar for each year
20162025
Debt / assets−16.7%
0.57
2025 · hover or tap a bar for each year
20162025
EARN efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−105 days
262 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue0.0 pts
0.0%
2025 · hover or tap a bar for each year
20162025
Dividends + buybacks / FCF−237.2 pts
6.6%
2025 · hover or tap a bar for each year
20162025
EARN valuation history
Fiscal year-endToday10-year median
EARN returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
EARN debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
EARN cash returned to shareholders
DividendsBuybacksFree cash flow
EARN price vs earnings per share
Share price at year-endEPS (right axis)
EARN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $198.0M | $179.8M | $91.2M | $90.3M | $131.8M | $161.1M | $135.2M | $131.1M | $139.7M | $118.7M |
| Enterprise value | $360.5M | $711.0M | $782.2M | $901.1M | $1.13B | $1.12B | $1.40B | $1.61B | $1.68B | $1.29B |
| P/E ratio | — | 27.3 | 20.0 | — | — | 8.0 | 6.1 | — | 12.9 | 10.0 |
| Price / sales | 4.7 | 3.5 | 1.6 | 4.5 | — | 6.2 | 4.9 | — | 3.9 | 4.5 |
| Price / book | 1.3 | 0.9 | 0.7 | 0.8 | 0.1 | 0.1 | 0.1 | 0.9 | 0.7 | 0.8 |
| Price / free cash flow | 0.4 | 19.7 | — | 4.0 | 4.7 | 6.6 | 7.7 | 4.5 | 2.3 | 6.0 |
| Price / operating cash flow | 0.4 | 19.7 | — | 4.0 | 4.7 | 6.6 | 7.7 | 4.5 | 2.3 | 6.0 |
| EV / sales | 8.5 | 14.0 | 14.1 | 44.6 | — | 43.4 | 50.8 | — | 47.3 | 49.1 |
| EV / EBITDA | — | 100.2 | 171.6 | — | — | 32.7 | 62.8 | 75.9 | 156.0 | 46.4 |
| EV / free cash flow | 0.7 | 78.0 | — | 40.2 | 40.5 | 46.2 | 79.7 | 55.8 | 27.9 | 64.5 |
| Earnings yield | −7.3% | 3.7% | 5.0% | −33.4% | −4.8% | 12.5% | 16.5% | −8.6% | 7.7% | 10.0% |
| Free cash flow yield | 273.1% | 5.1% | −11.0% | 24.8% | 21.2% | 15.1% | 13.0% | 22.0% | 43.1% | 16.8% |
| Dividend yield | 18.1% | 12.4% | 15.5% | 15.4% | 13.1% | 8.6% | 11.4% | 14.6% | 12.6% | 13.1% |
| Shareholder yield (dividends + buybacks) | 18.1% | 12.4% | 15.5% | 15.7% | 13.1% | 9.2% | 12.0% | 21.7% | 12.6% | 13.2% |
| Share price at fiscal year-end | $5.27 | $6.62 | $6.13 | $6.86 | $10.39 | $13.04 | $10.85 | $10.23 | $12.04 | $13.01 |
| Per share | ||||||||||
| Revenue per share | $1.13 | $1.87 | $3.72 | $1.53 | $0.00 | $2.10 | $2.21 | $0.00 | $3.06 | $2.87 |
| Earnings per share | −$0.38 | $0.24 | $0.31 | −$2.29 | −$0.50 | $1.63 | $1.79 | −$0.88 | $0.93 | $1.31 |
| Operating cash flow per share | $14.39 | $0.34 | −$0.67 | $1.70 | $2.20 | $1.97 | $1.41 | $2.25 | $5.19 | $2.18 |
| Free cash flow per share | $14.39 | $0.34 | −$0.67 | $1.70 | $2.20 | $1.97 | $1.41 | $2.25 | $5.19 | $2.18 |
| Cash per share | $1.54 | $1.17 | $2.59 | $2.64 | $5.44 | $4.71 | $2.84 | $1.45 | $4.84 | $3.67 |
| Book value per share | $4.09 | $7.13 | $9.16 | $8.54 | $125.80 | $96.60 | $119.20 | $12.01 | $16.61 | $15.53 |
| Tangible book value per share | $4.09 | $7.13 | $9.16 | $8.54 | $125.80 | $96.60 | $119.20 | $12.01 | $16.61 | $15.53 |
| Dividends per share | $0.96 | $0.82 | $0.95 | $1.06 | $1.36 | $1.12 | $1.24 | $1.49 | $1.52 | $1.70 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $5.86 | $20.73 | $49.04 | $64.24 | $84.04 | $82.72 | $104.19 | $116.94 | $137.83 | $131.55 |
| Shares outstanding | 37.6M | 27.2M | 14.9M | 13.2M | 12.7M | 12.4M | 12.5M | 12.8M | 11.6M | 9.1M |
| Change in shares outstanding | +38.3% | +82.6% | +13.0% | +3.8% | +2.7% | −0.9% | −2.7% | +10.4% | +27.2% | −0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −8.3% | 4.0% | 3.7% | −3.5% | −0.5% | 1.5% | 2.7% | −6.5% | 6.5% | 8.3% |
| Return on invested capital (ROIC) | −1.3% | 0.8% | 0.5% | −0.7% | −0.2% | 0.8% | 1.0% | 1.0% | 0.4% | 0.5% |
| Return on assets (ROA) | −2.4% | 0.7% | 0.5% | −2.3% | −0.5% | 1.5% | 1.4% | −0.6% | 0.7% | 0.8% |
| Return on tangible assets | −3.7% | 0.8% | 0.5% | −2.9% | −0.4% | 1.7% | 1.5% | −0.7% | 0.6% | 0.8% |
| Free cash flow margin | — | 18.0% | −18.1% | 111.1% | — | 94.0% | 63.7% | — | 169.5% | 76.1% |
| Income quality (OCF / net income) | — | 1.38 | −2.20 | — | — | 1.21 | 0.79 | — | 5.58 | 1.67 |
| Financial health | ||||||||||
| Total debt | $220.3M | $563.0M | $729.5M | $845.6M | $1.07B | $1.02B | $1.30B | $1.50B | $1.60B | $1.20B |
| Cash & short-term investments | $57.7M | $31.8M | $38.5M | $34.8M | $69.0M | $58.2M | $35.4M | $18.6M | $56.1M | $33.5M |
| Net debt | $162.5M | $531.1M | $691.0M | $810.8M | $996.9M | $963.7M | $1.26B | $1.48B | $1.54B | $1.17B |
| Debt / equity | 1.43 | 2.91 | 5.35 | 7.52 | 0.67 | 0.86 | 0.87 | 9.74 | 8.30 | 8.47 |
| Debt / assets | 0.57 | 0.68 | 0.77 | 0.80 | 0.67 | 0.86 | 0.87 | 0.89 | 0.85 | 0.84 |
| Net debt / EBITDA | — | 74.85 | 151.57 | — | — | 28.03 | 56.75 | 69.71 | 143.02 | 42.12 |
| Current ratio | 0.46 | 0.13 | 0.12 | 1.80 | 57.03 | 71.76 | 21.39 | 16.47 | 14.22 | 29.44 |
| Quick ratio | 0.46 | 0.13 | 0.12 | 1.80 | 57.03 | 71.76 | 21.39 | 285.13 | 524.65 | 522.41 |
| Interest coverage | -0.8 | 0.2 | 0.1 | -1.0 | -2.3 | 2.0 | 0.6 | 0.7 | 0.6 | 1.3 |
| Working capital | −$90.5M | −$520.6M | −$690.6M | $40.1M | $159.3M | $108.5M | $76.7M | $97.5M | $50.3M | $84.4M |
| Invested capital | $316.4M | $724.9M | $827.2M | $923.2M | $2.59B | $2.16B | $2.75B | $1.63B | $1.74B | $1.31B |
| Tangible asset value | $153.8M | $193.7M | $136.2M | $112.4M | $1.60B | $1.19B | $1.49B | $153.8M | $192.7M | $141.7M |
| Net current asset value | −$157.3M | −$555.4M | −$712.0M | −$850.8M | $159.3M | $108.5M | $76.7M | −$1.42B | −$1.64B | −$1.20B |
| Graham number | — | $6.24 | $7.95 | — | — | $59.49 | $69.21 | — | $18.64 | $21.36 |
| Graham net-net per share | −$4.31 | −$20.84 | −$48.86 | −$65.69 | $10.73 | $7.74 | $5.25 | −$177.37 | −$221.45 | −$210.47 |
| Capital allocation | ||||||||||
| Dividends paid | $35.9M | $22.2M | $14.1M | $13.9M | $17.3M | $13.8M | $15.5M | $19.1M | $17.6M | $15.5M |
| Share buybacks (net) | — | $0 | $0 | $262,000 | $0 | $986,000 | $747,000 | $9.4M | $0 | $196,000 |
| Dividend payout ratio | — | 337.3% | 309.8% | — | — | 68.8% | 69.5% | — | 163.0% | 130.3% |
| Dividends + buybacks / free cash flow | 6.6% | 243.8% | — | 63.3% | 62.0% | 60.8% | 92.5% | 98.7% | 29.2% | 78.8% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% |
| Capex / depreciation | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | 0.2% | 0.9% | 0.5% | 1.5% | — | 0.9% | 0.8% | — | 0.6% | 0.6% |
| R&D / revenue | — | — | 0.0% | 0.0% | — | 0.0% | 0.0% | — | 0.0% | 0.0% |
| SG&A / revenue | 1.2% | 3.8% | 3.3% | 14.2% | — | 12.7% | 11.5% | — | 10.6% | 11.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 262.4 | 367.5 | 377.5 | 1,345.0 | — | 682.7 | 987.0 | — | 726.6 | 1,954.7 |
| Days of inventory on hand | — | — | — | — | — | — | — | -534,044.5 | -32,633.3 | -28,782.8 |
| Days payables outstanding | — | 471.2 | 434.1 | 6,766.6 | 608.1 | 745.2 | 1,408.0 | 1,484.8 | 64.9 | 93.8 |
| Cash conversion cycle (days) | — | -103.7 | -56.6 | -5,421.6 | — | -62.5 | -421.0 | — | -31,971.5 | -26,921.9 |
| Receivables turnover | 1.39 | 0.99 | 0.97 | 0.27 | 0.00 | 0.53 | 0.37 | 0.00 | 0.50 | 0.19 |
| Payables turnover | — | 0.77 | 0.84 | 0.05 | 0.60 | 0.49 | 0.26 | 0.25 | 5.62 | 3.89 |
| Asset turnover | 0.07 | 0.06 | 0.06 | 0.02 | 0.00 | 0.02 | 0.02 | 0.00 | 0.02 | 0.02 |
| Average receivables | $30.6M | $51.0M | $57.3M | $74.4M | $72.5M | $48.5M | $74.5M | $79.0M | $70.7M | $140.2M |
| Average payables | — | $44.9M | $53.8M | $26.6M | $2.2M | $2.6M | $5.0M | $5.1M | $3.4M | $2.4M |
| Average inventory | — | — | — | — | — | — | — | −$1.82B | −$1.70B | −$731.3M |
| 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 EARN's annual financial statements (latest annual report filed December 31, 2025) 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.
EARN valuation and financial ratios
Ellington Residential Mortgage REIT earned a return on equity of −8.3% and a return on invested capital of −1.3% in fiscal 2025. It ended the year with $220.3 million of debt and $57.7 million in cash and short-term investments, net debt of $162.5 million. It returned $35.9 million to shareholders: $35.9 million in dividends and $0 in share buybacks, 7% of free cash flow. The share count rose 311.8% from 9.1M to 37.6M over 9 years.
See the EARN income statement, the EARN chart for price history, or the EARN stock overview for the latest quote and news.
EARN key metrics FAQ
What is Ellington Residential Mortgage REIT's return on equity?
Ellington Residential Mortgage REIT's return on equity (ROE) was −8.3% in fiscal 2025: net income of -$14.5 million on average shareholders' equity of $173.8 million.
What is Ellington Residential Mortgage REIT's ROIC?
Ellington Residential Mortgage REIT's return on invested capital was −1.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ellington Residential Mortgage REIT have?
Ellington Residential Mortgage REIT had total debt of $220.3 million at the end of fiscal 2025, a debt-to-equity ratio of 1.43.
What is Ellington Residential Mortgage REIT's dividend yield?
Ellington Residential Mortgage REIT's forward dividend yield is 27.75%. Ellington Residential Mortgage REIT paid $35.9 million in dividends in fiscal 2025 ($0.96 per share), a payout ratio of —.
What is Ellington Residential Mortgage REIT's free cash flow yield?
Ellington Residential Mortgage REIT generated $540.7 million of free cash flow in fiscal 2025, a free cash flow yield of 273.1% on its market value at year-end ($198.0 million).
What is Ellington Residential Mortgage REIT's current ratio?
Ellington Residential Mortgage REIT's current ratio was 0.46 at the end of fiscal 2025: current assets were 0.46 times current liabilities.