The company's capital structure remains strained with a debt-to-equity ratio of 4.53x as of 2026Q1, reflecting a contraction in total assets from $1.4 billion to $1.2 billion over the last two years.
Lument Finance Trust, Inc. (LFT) balance sheet — 14-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Assets | 1.12B | 1.22B | 1.13B | 1.45B | 1.13B | 1.05B | 621.49M | 657.9M | 679.35M | 2.61B | 2.3B | 2.5B | 2.92B | 528.2M | 181.05M |
| Asset Growth % | 9.06% | 7.74% | -22% | 28.28% | 7.54% | 68.78% | -5.53% | -3.16% | -74% | 13.61% | -7.96% | -14.5% | 453.24% | 191.74% | - |
| Real Estate & Other Assets | -51.23M | -27.39M | -649.29K | 2.25M | -795.66K | 1.89M | 1.83M | 1.59M | -24.36M | -1.29B | -874.37M | -575.74M | -368.32M | -444.98M | 1.66M |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -679.35M | -1.32B | -1.43B | 0 | 0 | 0 | 0 |
| Investment Securities | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 33.49M | 28.54M | 0 | 1.44B | 0 | 1.05B | 618.74M | 653.61M | 67.71M | 1.33T | 898.46B | 597.61B | 411.55B | 478.05B | 89.73M |
| Cash & Equivalents | 28.98M | 23.11M | 69.17M | 51.25M | 43.86M | 14.75M | 11.38M | 10.94M | 7.88M | 34.35M | 27.53M | 26.14M | 32.27M | 33.06M | 5.54M |
| Receivables | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 189.36K |
| Other Current Assets | 4.51M | 0 | -75.12M | 8.86M | -49.66M | 29.91M | 60.02M | 7.41M | 0 | 27.59M | 0 | 29.34M | 138.86M | 50.09M | -89.73M |
| Intangible Assets | 506.73K | 554.25K | 649.29K | 691.97K | 795.66K | 552K | 919.68K | 2.7M | 4M | 2.96M | 3.44M | 4.27M | 0 | 0 | 0 |
| Total Liabilities | 910.64M | 996.89M | 890.7M | 1.21B | 884.96M | 879.55M | 507.79M | 549.26M | 529.15M | 2.47B | 2.16B | 2.32B | 2.71B | 414.28M | 64.78M |
| Total Debt | 901.49M | 988.1M | 875.86M | 1.19B | 876.28M | 873.63M | 502.62M | 545.31M | 523.21M | 1.22B | 1.34B | 1.79B | 2.1B | 413.01M | 63.42M |
| Net Debt | 872.51M | 964.98M | 806.69M | 1.14B | 832.42M | 858.88M | 491.24M | 534.37M | 515.33M | 1.19B | 1.31B | 1.77B | 2.07B | 379.95M | 57.88M |
| Long-Term Debt | 901.49M | 812.89M | 875.86M | 1.19B | 876.28M | 873.63M | 502.62M | 545.31M | 523.21M | 1.22B | 1.34B | 1.79B | 2.1B | 0 | 0 |
| Short-Term Borrowings | 0 | 175.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.23B | 804.81M | 0 | 0 | 0 | 63.42M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 181.6M | 14.16M | 10.34M | 0 | 5.92M | 5.17M | 3.94M | 1.23M | 7.32M | 9.71M | 6.57M | 8.24M | 274.62K | 63.42M |
| Accounts Payable | 0 | 1.87M | 2.7M | 4.09M | 2.36M | 147.8K | 338.42K | 369.16K | 1.23M | 7.32M | 9.71M | 6.57M | 8.24M | 274.62K | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -521.98M | 222.52K | 203.74K | -512.16M | -588.93M | -412.74M | 0 |
| Other Liabilities | 9.15M | 2.41M | -875.86M | 2.37M | -876.28M | 0 | 0 | 1 | -523.21M | 0 | 0 | -1.79B | -2.1B | 0 | 1.36M |
| Total Equity | 204.82M | 219.09M | 237.9M | 240.79M | 243M | 169.38M | 113.7M | 108.64M | 150.2M | 2.56B | 2.25B | 177.49M | 212.8M | 113.93M | 116.27M |
| Equity Growth % | -31.68% | -7.91% | -1.2% | -0.91% | 43.47% | 48.96% | 4.66% | -27.67% | -94.13% | 13.76% | 1166.98% | -16.59% | 86.79% | -2.02% | - |
| Shareholders Equity | 204.72M | 218.99M | 237.8M | 240.69M | 242.9M | 169.28M | 113.6M | 108.55M | 150.1M | 145.79M | 142.47M | 177.49M | 212.8M | 113.93M | 116.27M |
| Minority Interest | 99.5K | 99.5K | 99.5K | 99.5K | 99.5K | 99.5K | 99.5K | 99.5K | 99.5K | 2.41B | 2.11B | 0 | 0 | 0 | 0 |
| Common Stock | 524.86K | 524K | 523.09K | 522.49K | 522.25K | 249.43K | 249.39K | 236.88K | 236.83K | 221.39K | 175.35K | 146.27K | 146.95K | 73.56K | 73.89K |
| Additional Paid-in Capital | 314.99M | 314.89M | 314.7M | 314.59M | 314.6M | 233.83M | 233.85M | 228.14M | 231.31M | 224.05M | 204.26M | 189.04M | 189.33M | 110.13M | 110.1M |
| Retained Earnings | 59.47M | 67.28M | 70.02M | -131.67M | 31.25M | -122.06M | -120.5M | -119.83M | -3.84M | 4.07M | -637.5K | 7.35M | 11.36M | 8.05M | 3.66M |
| Preferred Stock | 57.25M | 57.25M | 57.25M | 57.25M | 57.25M | 57.25M | 0 | 0 | 37.16M | 37.16M | 37.16M | 37.16M | 37.16M | 18.06M | 0 |
| Return on Assets (ROA) | -1.22% | -0.23% | 1.76% | 1.53% | 0.91% | 1.26% | 1.32% | 0.93% | -0.33% | 0.19% | -0.33% | 0.02% | 0.19% | 0.91% | 3.99% |
| Return on Equity (ROE) | -6.31% | -1.2% | 9.46% | 8.15% | 4.78% | 7.44% | 7.6% | 4.83% | -0.4% | 0.2% | -0.66% | 0.23% | 2.03% | 2.8% | 6.22% |
| Debt / Assets | 80.82% | 81.26% | 77.61% | 82.48% | 77.69% | 83.29% | 80.87% | 82.89% | 77.02% | 46.84% | 58.25% | 71.82% | 71.95% | 78.19% | 35.03% |
| Debt / Equity | 4.40x | 4.51x | 3.68x | 4.96x | 3.61x | 5.16x | 4.42x | 5.02x | 3.48x | 0.48x | 0.60x | 10.11x | 9.88x | 3.63x | 0.55x |
| Net Debt / EBITDA | 25.96x | 18.22x | - | 45.25x | 13614.14x | 2017.74x | 0.24x | - | 13.33x | 0.16x | 15.78x | 21.16x | 66.45x | 47.71x | - |
| Book Value per Share | 39.04 | 41.85 | 45.49 | 46.10 | 50.27 | 67.90 | 45.60 | 45.87 | 60.94 | 1222.56 | 1471.48 | 11.55 | 16.50 | 17.80 | 18.96 |
Quick answers to the most common questions about buying LFT stock.
As of 2025, Lument Finance Trust, Inc. (LFT) had total assets of $1.22B including $28.5M in current assets.
Lument Finance Trust, Inc. (LFT) carries total debt of $988.1M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lument Finance Trust, Inc. (LFT) has total shareholders' equity (book value) of $219.0M ($41.85 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lument Finance Trust, Inc. (LFT) reported a current ratio of 0.16x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
High leverage credit sensitivity
Metrics are mathematically derived from official filings.
Capitalization Stretched by Asset Volatility
According to recent financial statements, LFT's total assets fluctuated from $1.4 billion in 2024Q1 to $1.2 billion by 2026Q1, reflecting a contractionary trend that suggests management is struggling to maintain portfolio scale while navigating a challenging environment for transitional multi-family debt originations.
The reduction in total assets appears to indicate a defensive posture or a lack of viable deployment opportunities in the current interest rate environment. Investors should monitor whether this contraction is a strategic pivot to preserve capital or a forced deleveraging event resulting from asset impairments.
Elevated Leverage Amplifies Credit Risk
As reported in quarterly filings, LFT's debt-to-equity ratio reached 4.53x in 2026Q1, a level that remains near the upper bound of its historical range and suggests that the company's capital structure is highly sensitive to even minor fluctuations in underlying property valuations.
This high leverage profile leaves little room for error in the transitional loan portfolio, as any significant credit event could rapidly erode the remaining equity base. The reliance on debt to fund the portfolio appears to be a primary driver of the company's current financial instability.
Cash Reserves Constrained by Obligations
Based on the company's reported figures, cash reserves declined from $64.6 million in 2024Q1 to $30.6 million in 2026Q1, indicating a tightening liquidity position that may limit the company's ability to support its loan portfolio or meet unexpected capital requirements.
The consistent decline in cash balances suggests that the company is consuming liquidity to manage its debt service and dividend obligations. This trend warrants further investigation into the adequacy of existing credit facilities to provide a sufficient buffer against potential portfolio stress.
Hidden Risks in CLO Financing
As indicated by the company's reliance on structured financing, the expiration of CLO reinvestment windows represents a non-obvious risk, as LFT may be forced to refinance its debt at significantly higher costs, potentially further compressing net interest margins and limiting future growth.
The structural dependence on CLO vehicles to term out transitional loans creates a maturity wall risk that is not immediately apparent in headline leverage metrics. If the cost of new financing exceeds the yield on existing assets, the company may face a structural impairment of its earnings power.