Latest Ratios: P/E Ratio -1.6x · EV/EBITDA 29.4x · ROE -1.2%. (2012–2025 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 | $22M | $74M | $13M | $12M | $9M | $10M | $8M | $8M | $7M | $8M | $8M |
| Enterprise Value | $987M | $1.0B | $820M | $1.2B | $842M | $868M | $499M | $542M | $522M | $1.2B | $1.3B |
| P/E Ratio → | -1.58 | — | 0.76 | 0.80 | 1.73 | 1.28 | 0.96 | 2.94 | — | 6.96 | — |
| P/S Ratio | 0.29 | 0.93 | 0.39 | 0.38 | 0.46 | 0.45 | 0.43 | 0.47 | 1.41 | 0.46 | 1.00 |
| P/B Ratio | 0.10 | 0.34 | 0.06 | 0.05 | 0.04 | 0.06 | 0.07 | 0.07 | 0.05 | 0.00 | 0.00 |
| P/FCF | 3.35 | 8.61 | 0.50 | 0.49 | 0.56 | 0.69 | 0.67 | 1.05 | — | 1.98 | 3.24 |
| P/OCF | 2.14 | 7.31 | 0.50 | 0.49 | 0.56 | 0.69 | 0.67 | 1.05 | 0.58 | 1.98 | 3.24 |
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 | — | 13.12 | 23.53 | 35.99 | 42.03 | 41.22 | 26.09 | 33.32 | 104.65 | 66.34 | 173.54 |
| EV / EBITDA | 29.36 | 19.62 | — | 45.73 | 13764.36 | 2040.24 | 0.25 | — | 13.51 | 0.16 | 15.87 |
| EV / EBIT | 18.91 | 20.31 | — | 12.21 | — | — | — | — | — | — | — |
| EV / FCF | — | 121.13 | 30.23 | 46.66 | 51.67 | 62.72 | 40.87 | 74.43 | — | 283.34 | 563.64 |
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 | 90.1% | 90.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -20008.5% | -4639.2% | -19370.0% |
| Operating Margin | 65.9% | 65.9% | — | 68.5% | — | — | — | — | 753.4% | 39829.4% | -105.1% |
| Net Profit Margin | -3.5% | -3.5% | 65.0% | 61.5% | 49.3% | 50.0% | 44.1% | 38.4% | -109.6% | 26.1% | -105.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.2% | -1.2% | 9.5% | 8.2% | 4.8% | 7.4% | 7.6% | 4.8% | -0.4% | 0.2% | -0.7% |
| ROA | -0.2% | -0.2% | 1.8% | 1.5% | 0.9% | 1.3% | 1.3% | 0.9% | -0.3% | 0.2% | -0.3% |
| ROIC | 3.5% | 3.5% | — | 1.3% | — | — | — | — | 1.3% | 147.6% | -0.2% |
| ROCE | 4.9% | 4.9% | — | 1.7% | — | — | — | — | 2.3% | 293.8% | -0.3% |
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 | 4.51 | 4.51 | 3.68 | 4.96 | 3.61 | 5.16 | 4.42 | 5.02 | 3.48 | 0.48 | 0.60 |
| Debt / EBITDA | 18.66 | 18.66 | — | 47.28 | 14331.44 | 2052.39 | 0.25 | — | 13.53 | 0.17 | 16.11 |
| Net Debt / Equity | — | 4.40 | 3.39 | 4.74 | 3.43 | 5.07 | 4.32 | 4.92 | 3.43 | 0.46 | 0.58 |
| Net Debt / EBITDA | 18.22 | 18.22 | — | 45.25 | 13614.14 | 2017.74 | 0.24 | — | 13.33 | 0.16 | 15.78 |
| Debt / FCF | — | 112.52 | 29.73 | 46.17 | 51.10 | 62.03 | 40.20 | 73.38 | — | 281.36 | 560.40 |
| Interest Coverage | 0.95 | 0.95 | — | 1.26 | — | — | — | — | 0.90 | -90.02 | -0.00 |
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 | 0.16 | 0.16 | — | 139.71 | — | 176.78 | 119.67 | 165.76 | 54.98 | 181085.84 | 92505.05 |
| Quick Ratio | 0.16 | 0.16 | — | 139.71 | — | 176.78 | 119.67 | 165.76 | 54.98 | 181086.58 | 92505.88 |
| Cash Ratio | 0.13 | 0.13 | 4.88 | 4.96 | — | 2.49 | 2.20 | 2.77 | 6.40 | 181.09 | 92.51 |
| Asset Turnover | — | 0.07 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.01 | 0.01 | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| 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 | 84.9% | 24.8% | 100.0% | 100.0% | 100.0% | 100.0% | 93.7% | 86.7% | 73.2% | 100.0% | 100.0% |
| Payout Ratio | — | — | 69.2% | 66.2% | 118.1% | 94.8% | 90.4% | 106.1% | — | 252.9% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 131.8% | 124.5% | 57.9% | 78.1% | 104.0% | 34.1% | — | 14.4% | — |
| FCF Yield | 29.9% | 11.6% | 201.1% | 203.3% | 177.3% | 144.6% | 149.9% | 95.2% | — | 50.5% | 30.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3.7% |
| Total Shareholder Yield | 84.9% | 24.8% | 100.0% | 100.0% | 100.0% | 100.0% | 93.7% | 86.7% | 73.2% | 100.0% | 100.0% |
| Shares Outstanding | — | $5M | $5M | $5M | $5M | $2M | $2M | $2M | $2M | $2M | $2M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying LFT stock.
Lument Finance Trust, Inc.'s current P/E ratio is -1.6x. The historical average is 4.5x.
Lument Finance Trust, Inc.'s current EV/EBITDA is 29.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 27.1x.
Lument Finance Trust, Inc.'s return on equity (ROE) is -1.2%. The historical average is 3.7%.
Based on historical data, Lument Finance Trust, Inc. is trading at a P/E of -1.6x. Compare with industry peers and growth rates for a complete picture.
Lument Finance Trust, Inc.'s current dividend yield is 84.92%.
Lument Finance Trust, Inc. has 90.1% gross margin and 65.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Lument Finance Trust, Inc.'s Debt/EBITDA ratio is 18.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Transitional loan credit impairment
Metrics are mathematically derived from official filings.
Deep Discount Reflects Credit Uncertainty
Based on reported figures, LFT trades at a P/B ratio of 0.24, which, according to recent market data, suggests that investors are pricing in significant potential impairments to the underlying loan portfolio rather than viewing the current valuation as a fundamental entry point for value.
The absence of a meaningful P/FFO multiple underscores the market's skepticism regarding the company's ability to generate consistent distributable earnings in the current interest rate environment. This deep discount to book value appears to reflect a lack of confidence in the recovery of transitional multi-family assets, warranting further investigation into the specific credit quality of the loan book.
Margin Volatility Obscures Operational Efficiency
As reported in financial statements, LFT's NOI margin has experienced extreme fluctuations, collapsing from a historical baseline of 100% in early 2024 to a negative 29.8% by 2025Q4, indicating that property-level operating expenses and credit provisions are currently overwhelming the core interest income stream.
The erratic nature of these margins suggests that the company's profitability is highly sensitive to non-cash accounting adjustments and potential credit losses within its transitional loan portfolio. Investors should monitor whether the recent stabilization in 2026Q1 represents a durable recovery or merely a temporary reprieve from the underlying structural pressures.
Payout Sustainability Remains Highly Precarious
According to recent SEC filings, LFT's FFO payout ratio reached 4.1% in 2026Q1, yet this figure is misleading given the historical volatility of FFO per share, which swung from a negative $0.14 in 2025Q4 to a positive $0.01 in the most recent quarter.
The inconsistency in FFO generation suggests that the current dividend policy may be supported by capital recycling or external financing rather than organic cash flow. This reliance on non-operational sources to fund distributions warrants further investigation into the long-term viability of the current payout level.
High Leverage Amplifies Credit Sensitivity
As indicated by quarterly filings, LFT's debt-to-equity ratio of 4.53x in 2026Q1 remains near the upper bound of its historical range, suggesting that the company's capital structure is exceptionally sensitive to even minor fluctuations in underlying property valuations or interest rate volatility.
This elevated leverage profile limits the company's financial flexibility and increases the risk that any further deterioration in the multi-family sector could lead to significant equity erosion. The reliance on structured CLO financing further complicates the risk profile, as the expiration of reinvestment windows may force refinancing at unfavorable terms.
Standard P/E Distorts REIT Reality
Based on the provided financial data, the most commonly misapplied metric for LFT is the standard P/E ratio, which fails to account for the significant non-cash depreciation and CECL provisions that characterize the mortgage REIT business model and obscure true cash-generating capacity.
Using P/E in this context is misleading because it treats non-cash accounting charges as operational expenses, thereby masking the company's actual ability to cover its dividend. Analysts should instead focus on Distributable Earnings or FFO, which provide a more accurate reflection of the cash available for distribution to shareholders.