Ready Capital Corporation (RC) 10-Year Financial Performance & Capital Metrics

RC • • REIT / Real Estate

Real EstateMortgage REITsSpecialty Mortgage REITsSmall Business & Specialty Lenders

AboutReady Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through three segments: SBC Lending and Acquisitions; Small Business Lending; and Residential Mortgage Banking. The SBC Lending and Acquisitions segment, through its subsidiary, ReadyCap Commercial, LLC, originate SBC loans secured by stabilized or transitional investor properties using various loan origination channels. The Small Business Lending segment, through its subsidiary, ReadyCap Lending, LLC, acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program. The Residential Mortgage Banking segment, through its subsidiary, GMFS, LLC, originates residential mortgage loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.Show more

Revenue $27M -93.0%
FFO -$416M -215.7%
FFO/Share -2.44 -200.8%
FFO Payout 0% -100.0%
FFO per Share -2.44 -200.8%
NOI Margin 100%
FFO Margin -1520.73% -1748.7%
ROE -19.02% -227.3%
ROA -3.86% -236.8%
Debt/Assets 59.51% +2.2%
Net Debt/EBITDA -
Book Value/Share 11.36 -36.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High NOI margin of 100.0%
✓Trading at only 0.2x book value

✗Weaknesses

✗High debt to equity ratio of 3.1x
✗Weak 3Y average ROE of 2.7%
✗Weak Piotroski F-Score: 1/9
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Shares diluted 14.7% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-5.79%

5Y-32.68%

3Y-54.81%

TTM-131.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-182.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-177.01%

ROCE

10Y Avg-2.7%

5Y Avg-

3Y Avg-

Latest-

Peer Comparison

Small Business & Specialty Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOANManhattan Bridge Capital, Inc.	53.3M	4.66	9.51	32.68%	69.99%	12.22%	9.24%	0.52
REFIChicago Atlantic Real Estate Finance, Inc.	267.45M	12.69	6.75	-4.44%	64.78%	11.54%	8.66%	0.34
RCReady Capital Corporation	358.3M	2.21	-0.84	-92.98%	-15.93%	-16.58%		3.12
SACHSachem Capital Corp.	51.03M	1.07	-1.15	91.85%	-10.02%	-18.42%	25.11%	1.48
RCDReady Capital Corporation 9.00% Senior Notes due 2029	3.5B	21.64	-8.23	-92.98%	-15.93%	-16.58%		3.12
RCBReady Capital Corporation	4.01B	24.65	-9.48	112.63%	-63.23%	-8.07%		0.23
SCCGSachem Capital Corp. 8.00% Note	1.1B	23.50	-25.27	-11.23%	-81.91%	-20.88%	1.16%	1.66

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	57.98M	124.94M	152.82M	158.26M	197.87M	384.65M	296.34M	383.33M	389.94M	27.35M
Revenue Growth %	0.17%	1.15%	0.22%	0.04%	0.25%	0.94%	-0.23%	0.29%	0.02%	-0.93%
Property Operating Expenses	18.85M	65.59M	77.01M	28.75M	0	0	0	0	0	0
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	50.85M	71.73M	86.19M	121.49M	197.87M	384.65M	296.34M	383.33M	389.94M	27.35M
G&A Expenses	30.93M	35.77M	65.21M	65.52M	61.11M	102.31M	71.74M	87.86M	96.27M	98.74M
EBITDA+	-30.97M	109.4M	180.38M	134.13M	0	0	0	0	0	0
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	933.81K	109.7M	232.21M	255.62M	0	0	0	0	0	0
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	-31.9M	-303K	-51.83M	-121.49M	0	0	0	0	0	0
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	18.85M	0	74.65M	109.24M	151.88M	175.48M	213.56M	400.77M	716.47M	696.46M
Interest Coverage	-1.69x	-	-0.69x	-1.11x	-	-	-	-	-	-
Non-Operating Income	-18.85B	55.87M	70.7M	39.74M	0	0	0	0	0	0
Pretax Income+	3M	65.22M	47.65M	62.84M	64.5M	54.45M	132.16M	175.03M	358.42M	-516.51M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.42M	9.65M	1.84M	1.39M	-10.55M	8.38M	14.86M	15.47M	7.17M	-104.51M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-1.26M	49.17M	43.29M	59.26M	72.97M	44.87M	157.74M	194.26M	339.45M	-435.75M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.05%	40%	-0.12%	0.37%	0.23%	-0.39%	2.52%	0.23%	0.75%	-2.28%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-1.01%	487.01%	0.73%	0.14%	-0.75%	-	-	0.26%	0.64%	-2.16%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	-0.04	1.85	1.38	1.85	1.72	0.81	1.54	1.51	2.23	-2.63
EPS Growth %	-1.06%	46.68%	-0.25%	0.34%	-0.07%	-0.53%	0.9%	-0.02%	0.48%	-2.18%
EPS (Basic)	-0.05	1.85	1.38	1.85	1.72	0.81	2.17	1.32	2.26	-2.63
Diluted Shares Outstanding	31.14M	26.65M	31.37M	32.1M	42.05M	53.82M	68.66M	117.19M	148.57M	170.47M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	775.14M	2.61B	2.52B	3.04B	4.98B	5.37B	9.53B	11.62B	12.44B	10.14B
Asset Growth %	-0.02%	2.36%	-0.03%	0.2%	0.64%	0.08%	0.77%	0.22%	0.07%	-0.18%
Real Estate & Other Assets+	560.56M	1.77B	875.16M	1.26B	-31.8M	-36.59M	49.58M	136.27M	-6.13B	-510.69M
PP&E (Net)	1.27M	-2.61B	1.36B	24M	4.53M	3.17M	2.4M	1.69M	2.54M	7.36M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	25.17M	399.74M	81.58M	1.49B	111.19M	41.13M	237.4M	289.93M	272.89M	0
Cash & Equivalents	20.79M	59.57M	63.42M	54.41M	67.93M	138.97M	229.53M	163.04M	138.53M	143.8M
Receivables	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	4.37M	0	0	1.41B	70.55M	0	-21.58M	-10.19B	123.26M	-391.42M
Intangible Assets	53.09M	87.49M	94.04M	120.06M	130.28M	121.65M	219.44M	102.57M	120.59M	165.45M
Total Liabilities	597.36M	2.05B	1.97B	2.47B	4.13B	4.54B	8.25B	9.72B	9.79B	8.21B
Total Debt+	454.07M	1.22B	1.78B	2.31B	3.93B	4.12B	7.92B	9.34B	7.24B	6.04B
Net Debt	433.27M	1.16B	1.71B	2.25B	3.86B	3.98B	6.74B	9.03B	7.11B	5.89B
Long-Term Debt	353.3M	1.22B	1.78B	1.82B	2.74B	3.12B	5.81B	8.34B	7.09B	5.7B
Short-Term Borrowings	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	4.62M	3.67M	3M	1.78M	8.21M	17.81M
Total Current Liabilities+	22.13M	81.71M	86.92M	86.86M	411.65M	569.96M	655.96M	457.75M	345.13M	0
Accounts Payable	15.1M	15.34M	15.98M	24.83M	31.45M	27.01M	41.38M	47.95M	41.62M	53.33M
Deferred Revenue	0	0	0	-48.69M	0	0	0	0	0	0
Other Liabilities	803.01M	-312.75M	86.95M	344.67M	-2.76B	0	2.51B	-6.38B	11.27M	-5.72B
Total Equity+	177.78M	552.1M	555.47M	564.08M	844.78M	834.21M	1.28B	1.9B	2.65B	1.94B
Equity Growth %	-0.08%	2.11%	0.01%	0.02%	0.5%	-0.01%	0.54%	0.48%	0.39%	-0.27%
Shareholders Equity	159.22M	513.1M	536.07M	544.83M	825.41M	815.4M	1.28B	1.8B	2.55B	1.84B
Minority Interest	18.55M	39.01M	19.39M	19.24M	19.37M	18.81M	4.49M	99.15M	98.46M	97.7M
Common Stock	798	3K	3K	3K	5K	5K	8K	11K	17K	17K
Additional Paid-in Capital	447.09M	513.29M	539.46M	540.48M	822.84M	849.54M	1.16B	1.68B	2.32B	2.25B
Retained Earnings	-4.98M	-201K	-3.38M	5.27M	8.75M	-24.2M	8.6M	4.99M	124.41M	-505.09M
Preferred Stock	125K	0	0	5.27M	0	0	111.38M	119.74M	119.74M	111.38M
Return on Assets (ROA)	-0%	0.03%	0.02%	0.02%	0.02%	0.01%	0.02%	0.02%	0.03%	-0.04%
Return on Equity (ROE)	-0.01%	0.13%	0.08%	0.11%	0.1%	0.05%	0.15%	0.12%	0.15%	-0.19%
Debt / Assets	0.59%	0.47%	0.7%	0.76%	0.79%	0.77%	0.83%	0.8%	0.58%	0.6%
Debt / Equity	2.55x	2.21x	3.20x	4.09x	4.65x	4.94x	6.18x	4.92x	2.74x	3.12x
Net Debt / EBITDA	-	10.58x	9.49x	16.79x	-	-	-	-	-	-
Book Value per Share	5.71	20.72	17.71	17.57	20.09	15.50	18.65	16.20	17.82	11.36

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-23.08M	14.76M	352.49M	140.3M	-52.4M	68.89M	-34.44M	359.15M	33.07M	-51.22M
Operating CF Growth %	-3.92%	1.64%	22.88%	-0.6%	-1.37%	2.31%	-1.5%	11.43%	-0.91%	-2.55%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-1.42M	55.56M	45.81M	61.46M	75.06M	46.07M	159.97M	203.16M	341M	-418.49M
Depreciation & Amortization	933.81K	1.48M	14.53M	15.47M	6.25M	0	16.01M	25.07M	20.23M	19.77M
Stock-Based Compensation	0	0	290K	447K	1.48M	5.3M	6.92M	7.5M	0	0
Other Non-Cash Items	-31.31M	-16.69M	379.79M	171.49M	-113.75M	-53.25M	-184.09M	176.78M	-195.18M	482.28M
Working Capital Changes	8.72M	-25.59M	20.28M	-12.58M	-15.17M	70.78M	-17.25M	-28.29M	-132.97M	-134.79M
Cash from Investing+	45.94M	384.69M	-242.23M	-580.76M	-1.21B	-59.44M	-1.72B	-1.56B	1.04B	1.86B
Acquisitions (Net)	1.68M	34.93M	0	20.88M	-5M	0	-11.54M	123.71M	38.71M	-44.37M
Purchase of Investments	-23.39M	-17.39M	-54.32M	362K	-26.66M	-37.92M	-59.71M	-128.24M	-37.79M	-34.65M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	2.77M	-2.67M	-624.36M	-1.4B	-1.2B	-34.01M	41.75M	-1.77B	942.95M	1.86B
Cash from Financing+	-35.85M	-381.46M	-106.4M	444.48M	1.3B	63.05M	1.88B	1.17B	-1.09B	-1.88B
Dividends Paid	-14.24M	-46.87M	-48.26M	-51.32M	-63.33M	-56.88M	-111.92M	-187.83M	-215.09M	-206.06M
Common Dividends	-35.61M	-46.87M	-48.26M	-51.32M	-63.33M	-56.88M	-111.92M	-187.83M	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	0	-103K	0	-9.23M	-98.24M	-36.97M	-18.11M	-82.25M
Other Financing	-2.7M	-1.56M	-56K	63.56M	-29.39M	-14.47M	-63.4M	-166.26M	35.27M	-41.89M
Net Change in Cash+	-13M	18M	3.86M	4.02M	33.01M	72.5M	122.85M	-26.3M	-50.37M	5.77M
Exchange Rate Effect	0	0	0	0	0	0	0	0	-1000K	1000K
Cash at Beginning	33.79M	41.57M	59.57M	90.95M	94.97M	127.98M	200.48M	323.33M	218.97M	168.59M
Cash at End	20.79M	59.57M	63.42M	94.97M	127.98M	200.48M	323.33M	297.03M	168.59M	174.36M
Free Cash Flow+	-8.84M	80.71M	352.49M	139.94M	-53.29M	68.89M	-3.74B	359.15M	33.07M	-51.22M
FCF Growth %	0.85%	10.13%	3.37%	-0.6%	-1.38%	2.29%	-55.28%	1.1%	-0.91%	-2.55%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	-0.01	5.96	8.78	9.81	1.88	0.83	2.53	1.87	2.42	-2.44
FFO Payout Ratio	-10893.03%	29.5%	17.52%	16.3%	79.94%	126.78%	64.42%	85.64%	59.8%	0%
NOI Margin	67.49%	47.5%	49.61%	81.84%	100%	100%	100%	100%	100%	100%
Net Debt / EBITDA	-	10.58x	9.49x	16.79x	-	-	-	-	-	-
Debt / Assets	58.58%	46.73%	70.36%	75.96%	78.97%	76.71%	83.06%	80.35%	58.23%	59.51%
Interest Coverage	-1.69x	-	-0.69x	-1.11x	-	-	-	-	-	-
Book Value / Share	5.71	20.72	17.71	17.57	20.09	15.5	18.65	16.2	17.82	11.36
Revenue Growth	16.71%	115.49%	22.31%	3.56%	25.03%	94.39%	-22.96%	29.36%	1.72%	-92.98%

Frequently Asked Questions

Growth & Financials

Ready Capital Corporation (RC) reported $-9.2M in revenue for fiscal year 2024. This represents a 138% decrease from $24.4M in 2012.

Ready Capital Corporation (RC) saw revenue decline by 93.0% over the past year.

Ready Capital Corporation (RC) reported a net loss of $310.9M for fiscal year 2024.

Dividend & Returns

Yes, Ready Capital Corporation (RC) pays a dividend with a yield of 54.69%. This makes it attractive for income-focused investors.

Ready Capital Corporation (RC) has a return on equity (ROE) of -19.0%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Ready Capital Corporation (RC) generated Funds From Operations (FFO) of $-263.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Ready Capital Corporation (RC) offers a 54.69% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

US Stock Screener

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Ready Capital Corporation (RC) 10-Year Financial Performance & Capital Metrics

RC • • REIT / Real Estate

Real EstateMortgage REITsSpecialty Mortgage REITsSmall Business & Specialty Lenders

Revenue $27M -93.0%
FFO -$416M -215.7%
FFO/Share -2.44 -200.8%
FFO Payout 0% -100.0%
FFO per Share -2.44 -200.8%
NOI Margin 100%
FFO Margin -1520.73% -1748.7%
ROE -19.02% -227.3%
ROA -3.86% -236.8%
Debt/Assets 59.51% +2.2%
Net Debt/EBITDA -
Book Value/Share 11.36 -36.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High NOI margin of 100.0%
✓Trading at only 0.2x book value

✗Weaknesses

✗High debt to equity ratio of 3.1x
✗Weak 3Y average ROE of 2.7%
✗Weak Piotroski F-Score: 1/9
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Shares diluted 14.7% in last year
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-5.79%

5Y-32.68%

3Y-54.81%

TTM-131.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-182.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-177.01%

ROCE

10Y Avg-2.7%

5Y Avg-

3Y Avg-

Latest-

Peer Comparison

Small Business & Specialty Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOANManhattan Bridge Capital, Inc.	53.3M	4.66	9.51	32.68%	69.99%	12.22%	9.24%	0.52
REFIChicago Atlantic Real Estate Finance, Inc.	267.45M	12.69	6.75	-4.44%	64.78%	11.54%	8.66%	0.34
RCReady Capital Corporation	358.3M	2.21	-0.84	-92.98%	-15.93%	-16.58%		3.12
SACHSachem Capital Corp.	51.03M	1.07	-1.15	91.85%	-10.02%	-18.42%	25.11%	1.48
RCDReady Capital Corporation 9.00% Senior Notes due 2029	3.5B	21.64	-8.23	-92.98%	-15.93%	-16.58%		3.12
RCBReady Capital Corporation	4.01B	24.65	-9.48	112.63%	-63.23%	-8.07%		0.23
SCCGSachem Capital Corp. 8.00% Note	1.1B	23.50	-25.27	-11.23%	-81.91%	-20.88%	1.16%	1.66

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	57.98M	124.94M	152.82M	158.26M	197.87M	384.65M	296.34M	383.33M	389.94M	27.35M
Revenue Growth %	0.17%	1.15%	0.22%	0.04%	0.25%	0.94%	-0.23%	0.29%	0.02%	-0.93%
Property Operating Expenses	18.85M	65.59M	77.01M	28.75M	0	0	0	0	0	0
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	50.85M	71.73M	86.19M	121.49M	197.87M	384.65M	296.34M	383.33M	389.94M	27.35M
G&A Expenses	30.93M	35.77M	65.21M	65.52M	61.11M	102.31M	71.74M	87.86M	96.27M	98.74M
EBITDA+	-30.97M	109.4M	180.38M	134.13M	0	0	0	0	0	0
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	933.81K	109.7M	232.21M	255.62M	0	0	0	0	0	0
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	-31.9M	-303K	-51.83M	-121.49M	0	0	0	0	0	0
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	18.85M	0	74.65M	109.24M	151.88M	175.48M	213.56M	400.77M	716.47M	696.46M
Interest Coverage	-1.69x	-	-0.69x	-1.11x	-	-	-	-	-	-
Non-Operating Income	-18.85B	55.87M	70.7M	39.74M	0	0	0	0	0	0
Pretax Income+	3M	65.22M	47.65M	62.84M	64.5M	54.45M	132.16M	175.03M	358.42M	-516.51M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.42M	9.65M	1.84M	1.39M	-10.55M	8.38M	14.86M	15.47M	7.17M	-104.51M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-1.26M	49.17M	43.29M	59.26M	72.97M	44.87M	157.74M	194.26M	339.45M	-435.75M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.05%	40%	-0.12%	0.37%	0.23%	-0.39%	2.52%	0.23%	0.75%	-2.28%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-1.01%	487.01%	0.73%	0.14%	-0.75%	-	-	0.26%	0.64%	-2.16%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	-0.04	1.85	1.38	1.85	1.72	0.81	1.54	1.51	2.23	-2.63
EPS Growth %	-1.06%	46.68%	-0.25%	0.34%	-0.07%	-0.53%	0.9%	-0.02%	0.48%	-2.18%
EPS (Basic)	-0.05	1.85	1.38	1.85	1.72	0.81	2.17	1.32	2.26	-2.63
Diluted Shares Outstanding	31.14M	26.65M	31.37M	32.1M	42.05M	53.82M	68.66M	117.19M	148.57M	170.47M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	775.14M	2.61B	2.52B	3.04B	4.98B	5.37B	9.53B	11.62B	12.44B	10.14B
Asset Growth %	-0.02%	2.36%	-0.03%	0.2%	0.64%	0.08%	0.77%	0.22%	0.07%	-0.18%
Real Estate & Other Assets+	560.56M	1.77B	875.16M	1.26B	-31.8M	-36.59M	49.58M	136.27M	-6.13B	-510.69M
PP&E (Net)	1.27M	-2.61B	1.36B	24M	4.53M	3.17M	2.4M	1.69M	2.54M	7.36M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	25.17M	399.74M	81.58M	1.49B	111.19M	41.13M	237.4M	289.93M	272.89M	0
Cash & Equivalents	20.79M	59.57M	63.42M	54.41M	67.93M	138.97M	229.53M	163.04M	138.53M	143.8M
Receivables	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	4.37M	0	0	1.41B	70.55M	0	-21.58M	-10.19B	123.26M	-391.42M
Intangible Assets	53.09M	87.49M	94.04M	120.06M	130.28M	121.65M	219.44M	102.57M	120.59M	165.45M
Total Liabilities	597.36M	2.05B	1.97B	2.47B	4.13B	4.54B	8.25B	9.72B	9.79B	8.21B
Total Debt+	454.07M	1.22B	1.78B	2.31B	3.93B	4.12B	7.92B	9.34B	7.24B	6.04B
Net Debt	433.27M	1.16B	1.71B	2.25B	3.86B	3.98B	6.74B	9.03B	7.11B	5.89B
Long-Term Debt	353.3M	1.22B	1.78B	1.82B	2.74B	3.12B	5.81B	8.34B	7.09B	5.7B
Short-Term Borrowings	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	4.62M	3.67M	3M	1.78M	8.21M	17.81M
Total Current Liabilities+	22.13M	81.71M	86.92M	86.86M	411.65M	569.96M	655.96M	457.75M	345.13M	0
Accounts Payable	15.1M	15.34M	15.98M	24.83M	31.45M	27.01M	41.38M	47.95M	41.62M	53.33M
Deferred Revenue	0	0	0	-48.69M	0	0	0	0	0	0
Other Liabilities	803.01M	-312.75M	86.95M	344.67M	-2.76B	0	2.51B	-6.38B	11.27M	-5.72B
Total Equity+	177.78M	552.1M	555.47M	564.08M	844.78M	834.21M	1.28B	1.9B	2.65B	1.94B
Equity Growth %	-0.08%	2.11%	0.01%	0.02%	0.5%	-0.01%	0.54%	0.48%	0.39%	-0.27%
Shareholders Equity	159.22M	513.1M	536.07M	544.83M	825.41M	815.4M	1.28B	1.8B	2.55B	1.84B
Minority Interest	18.55M	39.01M	19.39M	19.24M	19.37M	18.81M	4.49M	99.15M	98.46M	97.7M
Common Stock	798	3K	3K	3K	5K	5K	8K	11K	17K	17K
Additional Paid-in Capital	447.09M	513.29M	539.46M	540.48M	822.84M	849.54M	1.16B	1.68B	2.32B	2.25B
Retained Earnings	-4.98M	-201K	-3.38M	5.27M	8.75M	-24.2M	8.6M	4.99M	124.41M	-505.09M
Preferred Stock	125K	0	0	5.27M	0	0	111.38M	119.74M	119.74M	111.38M
Return on Assets (ROA)	-0%	0.03%	0.02%	0.02%	0.02%	0.01%	0.02%	0.02%	0.03%	-0.04%
Return on Equity (ROE)	-0.01%	0.13%	0.08%	0.11%	0.1%	0.05%	0.15%	0.12%	0.15%	-0.19%
Debt / Assets	0.59%	0.47%	0.7%	0.76%	0.79%	0.77%	0.83%	0.8%	0.58%	0.6%
Debt / Equity	2.55x	2.21x	3.20x	4.09x	4.65x	4.94x	6.18x	4.92x	2.74x	3.12x
Net Debt / EBITDA	-	10.58x	9.49x	16.79x	-	-	-	-	-	-
Book Value per Share	5.71	20.72	17.71	17.57	20.09	15.50	18.65	16.20	17.82	11.36

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-23.08M	14.76M	352.49M	140.3M	-52.4M	68.89M	-34.44M	359.15M	33.07M	-51.22M
Operating CF Growth %	-3.92%	1.64%	22.88%	-0.6%	-1.37%	2.31%	-1.5%	11.43%	-0.91%	-2.55%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-1.42M	55.56M	45.81M	61.46M	75.06M	46.07M	159.97M	203.16M	341M	-418.49M
Depreciation & Amortization	933.81K	1.48M	14.53M	15.47M	6.25M	0	16.01M	25.07M	20.23M	19.77M
Stock-Based Compensation	0	0	290K	447K	1.48M	5.3M	6.92M	7.5M	0	0
Other Non-Cash Items	-31.31M	-16.69M	379.79M	171.49M	-113.75M	-53.25M	-184.09M	176.78M	-195.18M	482.28M
Working Capital Changes	8.72M	-25.59M	20.28M	-12.58M	-15.17M	70.78M	-17.25M	-28.29M	-132.97M	-134.79M
Cash from Investing+	45.94M	384.69M	-242.23M	-580.76M	-1.21B	-59.44M	-1.72B	-1.56B	1.04B	1.86B
Acquisitions (Net)	1.68M	34.93M	0	20.88M	-5M	0	-11.54M	123.71M	38.71M	-44.37M
Purchase of Investments	-23.39M	-17.39M	-54.32M	362K	-26.66M	-37.92M	-59.71M	-128.24M	-37.79M	-34.65M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	2.77M	-2.67M	-624.36M	-1.4B	-1.2B	-34.01M	41.75M	-1.77B	942.95M	1.86B
Cash from Financing+	-35.85M	-381.46M	-106.4M	444.48M	1.3B	63.05M	1.88B	1.17B	-1.09B	-1.88B
Dividends Paid	-14.24M	-46.87M	-48.26M	-51.32M	-63.33M	-56.88M	-111.92M	-187.83M	-215.09M	-206.06M
Common Dividends	-35.61M	-46.87M	-48.26M	-51.32M	-63.33M	-56.88M	-111.92M	-187.83M	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	0	-103K	0	-9.23M	-98.24M	-36.97M	-18.11M	-82.25M
Other Financing	-2.7M	-1.56M	-56K	63.56M	-29.39M	-14.47M	-63.4M	-166.26M	35.27M	-41.89M
Net Change in Cash+	-13M	18M	3.86M	4.02M	33.01M	72.5M	122.85M	-26.3M	-50.37M	5.77M
Exchange Rate Effect	0	0	0	0	0	0	0	0	-1000K	1000K
Cash at Beginning	33.79M	41.57M	59.57M	90.95M	94.97M	127.98M	200.48M	323.33M	218.97M	168.59M
Cash at End	20.79M	59.57M	63.42M	94.97M	127.98M	200.48M	323.33M	297.03M	168.59M	174.36M
Free Cash Flow+	-8.84M	80.71M	352.49M	139.94M	-53.29M	68.89M	-3.74B	359.15M	33.07M	-51.22M
FCF Growth %	0.85%	10.13%	3.37%	-0.6%	-1.38%	2.29%	-55.28%	1.1%	-0.91%	-2.55%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	-0.01	5.96	8.78	9.81	1.88	0.83	2.53	1.87	2.42	-2.44
FFO Payout Ratio	-10893.03%	29.5%	17.52%	16.3%	79.94%	126.78%	64.42%	85.64%	59.8%	0%
NOI Margin	67.49%	47.5%	49.61%	81.84%	100%	100%	100%	100%	100%	100%
Net Debt / EBITDA	-	10.58x	9.49x	16.79x	-	-	-	-	-	-
Debt / Assets	58.58%	46.73%	70.36%	75.96%	78.97%	76.71%	83.06%	80.35%	58.23%	59.51%
Interest Coverage	-1.69x	-	-0.69x	-1.11x	-	-	-	-	-	-
Book Value / Share	5.71	20.72	17.71	17.57	20.09	15.5	18.65	16.2	17.82	11.36
Revenue Growth	16.71%	115.49%	22.31%	3.56%	25.03%	94.39%	-22.96%	29.36%	1.72%	-92.98%

Frequently Asked Questions

Growth & Financials

Ready Capital Corporation (RC) reported $-9.2M in revenue for fiscal year 2024. This represents a 138% decrease from $24.4M in 2012.

Ready Capital Corporation (RC) saw revenue decline by 93.0% over the past year.

Ready Capital Corporation (RC) reported a net loss of $310.9M for fiscal year 2024.

Dividend & Returns

Yes, Ready Capital Corporation (RC) pays a dividend with a yield of 54.69%. This makes it attractive for income-focused investors.

Ready Capital Corporation (RC) has a return on equity (ROE) of -19.0%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Ready Capital Corporation (RC) generated Funds From Operations (FFO) of $-263.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Ready Capital Corporation (RC) offers a 54.69% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.