Latest Ratios: P/E Ratio 19.2x · EV/EBITDA 41.8x · ROE 8.5%. (2008–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $2.4B | $2.1B | $1.5B | — | — | — | — | — | — | — |
| Enterprise Value | $19.2B | $19.2B | $1.9B | $14.6B | — | — | — | — | — | — | — |
| P/E Ratio → | 19.18 | 20.24 | 17.64 | 24.77 | — | — | — | — | — | — | — |
| P/S Ratio | 3.62 | 3.55 | 7.38 | 5.87 | — | — | — | — | — | — | — |
| P/B Ratio | 1.21 | 1.28 | 1.31 | 0.98 | — | — | — | — | — | — | — |
| P/FCF | 4.80 | 4.70 | — | — | — | — | — | — | — | — | — |
| P/OCF | 4.80 | 4.70 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 28.40 | 6.70 | 56.95 | — | — | — | — | — | — | — |
| EV / EBITDA | 41.83 | 41.73 | 16.27 | 163.76 | — | — | — | — | — | — | — |
| EV / EBIT | 46.24 | 41.73 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 37.63 | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.3% | 84.3% | 100.0% | 100.0% | 100.0% | 80.5% | 100.0% | 100.0% | 99.5% | -99.2% | -806.7% |
| Operating Margin | 61.6% | 61.6% | 41.2% | 34.8% | -57.9% | 62.2% | 5.2% | 64.0% | 134.6% | 606.0% | 12.7% |
| Net Profit Margin | 21.8% | 21.8% | 51.7% | 32.8% | -162.3% | 61.6% | 71.1% | 68.0% | 60.8% | 57.7% | -682.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.5% | 8.5% | 9.3% | 6.1% | -5.5% | 11.9% | 2.8% | 7.9% | 7.7% | 1.0% | -2.3% |
| ROA | 0.8% | 0.8% | 0.9% | 0.6% | -0.7% | 3.1% | 0.6% | 1.4% | 1.3% | 0.2% | -0.6% |
| ROIC | 1.8% | 1.8% | 0.6% | 0.5% | -0.2% | 2.5% | 0.0% | 1.2% | 3.4% | 2.7% | 0.0% |
| ROCE | 2.5% | 2.5% | 0.9% | 0.9% | -0.5% | 7.6% | 0.1% | 2.2% | 3.3% | 2.6% | 0.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 9.07 | 9.07 | 8.93 | 8.68 | 10.16 | 2.75 | 2.59 | 3.77 | 3.35 | 2.38 | 1.64 |
| Debt / EBITDA | 36.95 | 36.95 | 122.17 | 149.47 | — | 18.84 | 1311.63 | 60.07 | 12.92 | 12.67 | 17.54 |
| Net Debt / Equity | — | 8.96 | -0.12 | 8.53 | 9.98 | 2.68 | 2.47 | 3.69 | 3.28 | 2.30 | 1.45 |
| Net Debt / EBITDA | 36.51 | 36.51 | -1.65 | 146.88 | — | 18.36 | 1250.22 | 58.74 | 12.63 | 12.26 | 15.50 |
| Debt / FCF | — | 32.93 | — | — | 3404.90 | 15.81 | 15.16 | 24.83 | — | — | 13.41 |
| Interest Coverage | 1.51 | 1.51 | 0.42 | 0.34 | — | 4.38 | 0.03 | — | 1.65 | 0.95 | -0.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.08 | 0.08 | — | 2.64 | — | — | — | — | 1.89 | 0.36 | 1.58 |
| Quick Ratio | 0.08 | 0.08 | — | 2.64 | — | — | — | — | 1.93 | 0.49 | -0.01 |
| Cash Ratio | 0.08 | 0.08 | 1.62 | 0.05 | 0.04 | 0.03 | 0.06 | 0.03 | 0.09 | 0.22 | 1.34 |
| Asset Turnover | — | 0.03 | 0.02 | 0.02 | 0.00 | 0.04 | 0.01 | 0.02 | 0.02 | 0.00 | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 0.15 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 8.1% | 7.7% | 7.8% | 9.9% | — | — | — | — | — | — | — |
| Payout Ratio | 125.0% | 125.0% | 112.1% | 177.5% | — | 64.2% | 260.0% | 93.7% | 108.7% | 930.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 4.9% | 5.7% | 4.0% | — | — | — | — | — | — | — |
| FCF Yield | 20.8% | 21.3% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 1.2% | 0.8% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 8.1% | 7.7% | 9.0% | 10.7% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $99M | $87M | $69M | $61M | $49M | $44M | $32M | $31M | $33M | $33M |
High repo leverage sensitivity
Based on reported figures, EFC-PD trades at a P/B ratio of 1.21, which suggests that the market assigns a premium to the firm's book value despite the lack of consistent FFO data and the significant volatility observed in recent quarterly earnings reports across the mortgage REIT sector.
The current P/B multiple appears elevated relative to peers like Granite Point Mortgage Trust, which may indicate that investors are pricing in the potential for superior credit selection rather than current cash flow generation. Given the absence of a stable P/FFO metric, the valuation remains highly speculative and sensitive to shifts in the underlying fair market value of the credit portfolio.
As reported in financial statements, the company's NOI margin has fluctuated between 80.5% and 100.0% over the last ten quarters, suggesting that the firm's profitability is heavily influenced by non-recurring gains and mark-to-market adjustments rather than stable, organic growth in interest income from the core mortgage portfolio.
The wide variance in margins indicates that the firm's profitability is highly cyclical and dependent on the performance of complex credit assets. Investors should monitor whether the recent stabilization in margins can be sustained without relying on transactional gains that often obscure the true underlying cost of capital.
According to recent SEC filings, EFC-PD maintains a debt-to-equity ratio of 9.03x as of 2026Q1, a level that indicates a high degree of sensitivity to repo market volatility and leaves the firm with a thin margin of safety against potential asset valuation declines in the credit segment.
The persistent reliance on high leverage to drive returns suggests that the company's balance sheet is structurally vulnerable to liquidity crunches. The interest coverage ratio, which has remained low at 2.23x, further underscores the risk that rising borrowing costs could rapidly erode the firm's ability to service its debt obligations.
Data from financial disclosures indicates that the P/E ratio is the most commonly misapplied metric for EFC-PD, as it fails to account for the significant non-cash depreciation and mark-to-market adjustments inherent in the mortgage REIT business model, thereby distorting the true economic earnings of the firm.
Using P/E obscures the impact of interest rate volatility on the company's asset values and ignores the necessity of maintenance capital expenditures. Analysts should instead prioritize FFO or AFFO to better assess the company's recurring cash flow capacity and its ability to sustain dividend distributions to preferred shareholders.
Includes 30+ ratios · 18 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EFC-PD stock.
Ellington Financial Inc.'s current P/E ratio is 19.2x. The historical average is 20.9x. This places it at the 33th percentile of its historical range.
Ellington Financial Inc.'s current EV/EBITDA is 41.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.0x.
Ellington Financial Inc.'s return on equity (ROE) is 8.5%. The historical average is 8.0%.
Based on historical data, Ellington Financial Inc. is trading at a P/E of 19.2x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ellington Financial Inc.'s current dividend yield is 8.09% with a payout ratio of 125.0%.
Ellington Financial Inc. has 84.3% gross margin and 61.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Ellington Financial Inc.'s Debt/EBITDA ratio is 37.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.