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RC logoReady Capital Corporation(RC)Earnings, Financials & Key Ratios

RC•NYSE•REIT / Real Estate
$2.04
$330M mkt cap·Price updated May 6, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustrySmall-balance bridge and hard-money 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 Payout0%-100.0%
  • FFO per Share-2.44-200.8%
  • NOI Margin100%
  • FFO Margin-1520.73%-1748.7%
  • ROE-19.02%-227.3%
  • ROA-3.86%-236.8%
  • Debt/Assets59.51%+2.2%
  • Book Value/Share11.36-36.3%
Technical→

RC Key Insights

Ready Capital Corporation (RC) fundamental analysis — strengths, weaknesses & financial health based on 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
  • ✗Shares diluted 14.7% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

RC Price & Volume

Ready Capital Corporation (RC) stock price & volume — 10-year historical chart

Loading chart...

RC Growth Metrics

Ready Capital Corporation (RC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-5.79%
5 Years-32.68%
3 Years-54.81%
TTM-131.52%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-182.99%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-177.01%

Return on Capital

10 Years-2.7%
5 Years-
3 Years-
Last Year-

RC Recent Earnings

Ready Capital Corporation (RC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 6/12 qtrs (50%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.09
Est $0.11
+18.2%
Revenue
$14M
Est $84M
-116.8%
Q4 2025
Nov 6, 2025
EPS
$0.94
Est $0.24
-291.7%
Revenue
$85M
Est $73M
+17.0%
Q3 2025
Aug 7, 2025
EPS
$0.14
Est $0.01
-1300.0%
Revenue
$182M
Est $169M
+7.5%
Q2 2025
May 8, 2025
EPS
$0.09
Est $0.12
-175.0%
Revenue
$74M
Est $207M
-135.7%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.09vs $0.11+18.2%
$14Mvs $84M-116.8%
Q4 2025Nov 6, 2025
$0.94vs $0.24-291.7%
$85Mvs $73M+17.0%
Q3 2025Aug 7, 2025
$0.14vs $0.01-1300.0%
$182Mvs $169M+7.5%
Q2 2025May 8, 2025
$0.09vs $0.12-175.0%
$74Mvs $207M-135.7%
Based on last 12 quarters of dataView full earnings history →

RC Peer Comparison

Ready Capital Corporation (RC) competitors in Small-balance bridge and hard-money lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ACRE logoACREAres Commercial Real Estate CorporationDirect Competitor287.24M5.22-318.29-2.79%-1.6%-0.18%2.06
BXMT logoBXMTBlackstone Mortgage Trust, Inc.Direct Competitor3.25B19.2930.14-13.96%6.75%2.93%4.61
TRTX logoTRTXTPG RE Finance Trust, Inc.Direct Competitor664.08M8.5915.07123.25%23.2%5.7%3.08
GPMT logoGPMTGranite Point Mortgage Trust Inc.Direct Competitor70.87M1.49-1.28187.77%-30.49%-7.1%2.12
KREF logoKREFKKR Real Estate Finance Trust Inc.Direct Competitor422.45M6.57-6.26-22.72%-23.56%-8.4%3.83
BRSP logoBRSPBrightSpire Capital, Inc.Direct Competitor775.15M5.95-22.88-4.5%-9.47%-3.34%2.68
LADR logoLADRLadder Capital CorpProduct Competitor1.31B10.2920.18-23.26%16.52%4.29%2.37
ARI logoARIApollo Commercial Real Estate Finance, Inc.Product Competitor1.45B10.9513.521.28%17.9%6.88%4.27

Compare RC vs Peers

Ready Capital Corporation (RC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ACRE

Most directly comparable listed peer for RC.

Scale Benchmark

vs CBRE

Larger-name benchmark to compare RC against a more recognizable public peer.

Peer Set

Compare Top 5

vs ACRE, BXMT, TRTX, GPMT

RC Income Statement

Ready Capital Corporation (RC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Revenue124.94M152.82M158.26M197.87M384.65M296.34M383.33M389.94M27.35M-9.25M
Revenue Growth %115.49%22.31%3.56%25.03%94.39%-22.96%29.36%1.72%-92.98%-131.52%
Property Operating Expenses65.59M77.01M28.75M00000020.81M
Net Operating Income (NOI)
59.35M▲ 0%
75.81M▲ 27.7%
129.52M▲ 70.8%
197.87M▲ 52.8%
384.65M▲ 94.4%
296.34M▼ 23.0%
383.33M▲ 29.4%
389.94M▲ 1.7%
27.35M▼ 93.0%
134.19M▲ 0%
NOI Margin %47.5%49.61%81.84%100%100%100%100%100%100%-1450.97%
Operating Expenses71.73M86.19M121.49M197.87M384.65M296.34M383.33M389.94M27.35M65.27M
G&A Expenses35.77M65.21M65.52M61.11M102.31M71.74M87.86M96.27M98.74M76.91M
EBITDA109.4M180.38M134.13M000000-95.33M
EBITDA Margin %87.56%118.04%84.75%0%0%0%0%0%0%1030.82%
Depreciation & Amortization109.7M232.21M255.62M0000000
D&A / Revenue %87.81%151.95%161.52%0%0%0%0%0%0%0%
Operating Income
-303K▲ 0%
-51.83M▼ 17005.0%
-121.49M▼ 134.4%
0▲ 100.0%
0▲ 0%
0▲ 0%
0▲ 0%
0▲ 0%
0▲ 0%
-95.33M▲ 0%
Operating Margin %-0.24%-33.92%-76.77%0%0%0%0%0%0%1030.82%
Interest Expense074.65M109.24M151.88M175.48M213.56M400.77M716.47M696.46M3M
Interest Coverage--0.69x-1.11x-------
Non-Operating Income55.87M70.7M39.74M000000-95.33M
Pretax Income
65.22M▲ 0%
47.65M▼ 26.9%
62.84M▲ 31.9%
64.5M▲ 2.6%
54.45M▼ 15.6%
132.16M▲ 142.7%
175.03M▲ 32.4%
358.42M▲ 104.8%
-516.51M▼ 244.1%
-353.2M▲ 0%
Pretax Margin %52.2%31.18%39.71%32.6%14.16%44.6%45.66%91.92%-1888.25%3819.25%
Income Tax9.65M1.84M1.39M-10.55M8.38M14.86M15.47M7.17M-104.51M-72.4M
Effective Tax Rate %14.8%3.86%2.21%-16.36%15.4%11.24%8.84%2%20.23%20.5%
Net Income
49.17M▲ 0%
43.29M▼ 12.0%
59.26M▲ 36.9%
72.97M▲ 23.1%
44.87M▼ 38.5%
157.74M▲ 251.6%
194.26M▲ 23.2%
339.45M▲ 74.7%
-435.75M▼ 228.4%
-310.87M▲ 0%
Net Margin %39.35%28.33%37.44%36.88%11.67%53.23%50.68%87.05%-1593.02%3361.49%
Net Income Growth %4000.11%-11.96%36.89%23.14%-38.51%251.56%23.15%74.74%-228.37%-182.99%
Funds From Operations (FFO)
158.87M▲ 0%
275.5M▲ 73.4%
314.88M▲ 14.3%
79.22M▼ 74.8%
44.87M▼ 43.4%
173.75M▲ 287.2%
219.33M▲ 26.2%
359.68M▲ 64.0%
-415.98M▼ 215.7%
-263.61M▲ 0%
FFO Margin %127.16%180.28%198.96%40.04%11.67%58.63%57.22%92.24%-1520.73%2850.46%
FFO Growth %48700.63%73.41%14.29%-74.84%--26.23%63.99%-215.65%-2738.68%
FFO per Share5.968.789.811.880.832.531.872.42-2.44-1.57
FFO Payout Ratio %29.5%17.52%16.3%79.94%126.78%64.42%85.64%59.8%0%-8.66%
EPS (Diluted)
1.85▲ 0%
1.38▼ 25.4%
1.85▲ 34.1%
1.72▼ 7.0%
0.81▼ 52.9%
1.54▲ 90.1%
1.51▼ 1.9%
2.23▲ 47.7%
-2.63▼ 217.9%
-1.85▲ 0%
EPS Growth %4667.9%-25.41%34.06%-7.03%-52.91%90.12%-1.95%47.68%-217.94%-177.01%
EPS (Basic)1.851.381.851.720.812.171.322.26-2.63-
Diluted Shares Outstanding26.65M31.37M32.1M42.05M53.82M68.66M117.19M148.57M170.47M167.79M

RC Balance Sheet

Ready Capital Corporation (RC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Assets2.61B2.52B3.04B4.98B5.37B9.53B11.62B12.44B10.14B8.33B
Asset Growth %236.1%-3.14%20.34%63.89%7.94%77.47%21.89%7.06%-18.48%-82.54%
Real Estate & Other Assets1.77B875.16M1.26B-31.8M-36.59M49.58M136.27M-6.13B-510.69M-521.35M
PP&E (Net)-2.61B1.36B24M4.53M3.17M2.4M1.69M2.54M7.36M3.54M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets399.74M81.58M1.49B111.19M41.13M237.4M289.93M272.89M00
Cash & Equivalents59.57M63.42M54.41M67.93M138.97M229.53M163.04M138.53M143.8M147.51M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets001.41B70.55M0-21.58M-10.19B123.26M-391.42M-470.15M
Intangible Assets87.49M94.04M120.06M130.28M121.65M219.44M102.57M120.59M165.45M165.83M
Total Liabilities2.05B1.97B2.47B4.13B4.54B8.25B9.72B9.79B8.21B6.46B
Total Debt1.22B1.78B2.31B3.93B4.12B7.92B9.34B7.24B6.04B3.78B
Net Debt1.16B1.71B2.25B3.86B3.98B6.74B9.03B7.11B5.89B3.63B
Long-Term Debt1.22B1.78B1.82B2.74B3.12B5.81B8.34B7.09B5.7B3.35B
Short-Term Borrowings0101.1M88.39M380.2M999.47M2.11B996.56M149.92M317.05M418.22M
Capital Lease Obligations0004.62M3.67M3M1.78M8.21M17.81M51.56M
Total Current Liabilities81.71M86.92M86.86M411.65M569.96M655.96M457.75M345.13M00
Accounts Payable15.34M15.98M24.83M31.45M27.01M41.38M47.95M41.62M53.33M60.93M
Deferred Revenue107.92M-18.22M-48.69M4.13B10.7M286K9.72B-32.98M00
Other Liabilities-312.75M86.95M344.67M-2.76B02.51B-6.38B11.27M-5.72B-3.36B
Total Equity
552.1M▲ 0%
555.47M▲ 0.6%
564.08M▲ 1.5%
844.78M▲ 49.8%
834.21M▼ 1.3%
1.28B▲ 53.5%
1.9B▲ 48.3%
2.65B▲ 39.4%
1.94B▼ 26.9%
1.88B▲ 0%
Equity Growth %210.56%0.61%1.55%49.76%-1.25%53.51%48.26%39.41%-26.86%-84.22%
Shareholders Equity513.1M536.07M544.83M825.41M815.4M1.28B1.8B2.55B1.84B1.77B
Minority Interest39.01M19.39M19.24M19.37M18.81M4.49M99.15M98.46M97.7M100.53M
Common Stock3K3K3K5K5K8K11K17K17K17K
Additional Paid-in Capital513.29M539.46M540.48M822.84M849.54M1.16B1.68B2.32B2.25B2.26B
Retained Earnings-201K-3.38M5.27M8.75M-24.2M8.6M4.99M124.41M-505.09M-569.71M
Preferred Stock005.27M00111.38M119.74M119.74M111.38M111.38M
Return on Assets (ROA)2.91%1.69%2.13%1.82%0.87%2.12%1.84%2.82%-3.86%-3.73%
Return on Equity (ROE)13.47%7.82%10.59%10.36%5.34%14.92%12.22%14.94%-19.02%-16.58%
Debt / Assets46.73%70.36%75.96%78.97%76.71%83.06%80.35%58.23%59.51%45.33%
Debt / Equity2.21x3.20x4.09x4.65x4.94x6.18x4.92x2.74x3.12x3.12x
Net Debt / EBITDA10.58x9.49x16.79x-------38.07x
Book Value per Share20.7217.7117.5720.0915.5018.6516.2017.8211.3611.18

RC Cash Flow Statement

Ready Capital Corporation (RC) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations14.76M352.49M140.3M-52.4M68.89M-34.44M359.15M33.07M-51.22M-51.22M
Operating CF Growth %163.96%2287.65%-60.2%-137.35%231.48%-149.99%1142.79%-90.79%-254.89%117758.9%
Operating CF / Revenue %11.82%230.66%88.65%-26.48%17.91%-11.62%93.69%8.48%-187.25%553.85%
Net Income55.56M45.81M61.46M75.06M46.07M159.97M203.16M341M-418.49M-310.87M
Depreciation & Amortization1.48M14.53M15.47M6.25M016.01M25.07M20.23M19.77M47.26M
Stock-Based Compensation0290K447K1.48M5.3M6.92M7.5M001.59M
Other Non-Cash Items-16.69M379.79M171.49M-113.75M-53.25M-184.09M176.78M-195.18M482.28M718.53M
Working Capital Changes-25.59M20.28M-12.58M-15.17M70.78M-17.25M-28.29M-132.97M-134.79M-106.19M
Cash from Investing384.69M-242.23M-580.76M-1.21B-59.44M-1.72B-1.56B1.04B1.86B1.93B
Acquisitions (Net)34.93M020.88M-5M0-11.54M123.71M38.71M-44.37M800K
Purchase of Investments-17.39M-54.32M362K-26.66M-37.92M-59.71M-128.24M-37.79M-34.65M-30.18M
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K3M
Other Investing-2.67M-624.36M-1.4B-1.2B-34.01M41.75M-1.77B942.95M1.86B1.9B
Cash from Financing-381.46M-106.4M444.48M1.3B63.05M1.88B1.17B-1.09B-1.88B-2.35B
Dividends Paid-46.87M-48.26M-51.32M-63.33M-56.88M-111.92M-187.83M-215.09M-206.06M-135.32M
Common Dividends-46.87M-48.26M-51.32M-63.33M-56.88M-111.92M-187.83M00-22.83M
Debt Issuance (Net)-1000K-1000K1000K1000K1000K1000K1000K-1000K-1000K-4M
Share Repurchases00-103K0-9.23M-98.24M-36.97M-18.11M-82.25M-108.8M
Other Financing-1.56M-56K63.56M-29.39M-14.47M-63.4M-166.26M35.27M-41.89M-74.37M
Net Change in Cash
18M▲ 0%
3.86M▼ 78.6%
4.02M▲ 4.1%
33.01M▲ 722.0%
72.5M▲ 119.6%
122.85M▲ 69.4%
-26.3M▼ 121.4%
-50.37M▼ 91.5%
5.77M▲ 111.5%
-20.93M▲ 0%
Exchange Rate Effect0000000-1000K1000K3M
Cash at Beginning41.57M59.57M90.95M94.97M127.98M200.48M323.33M218.97M168.59M222.48M
Cash at End59.57M63.42M94.97M127.98M200.48M323.33M297.03M168.59M174.36M194.5M
Free Cash Flow
80.71M▲ 0%
352.49M▲ 336.8%
139.94M▼ 60.3%
-53.29M▼ 138.1%
68.89M▲ 229.3%
-3.74B▼ 5527.6%
359.15M▲ 109.6%
33.07M▼ 90.8%
-51.22M▼ 254.9%
366.24M▲ 0%
FCF Growth %1013.23%336.76%-60.3%-138.08%229.28%-5527.62%109.6%-90.79%-254.89%2997.48%
FCF / Revenue %64.6%230.66%88.42%-26.93%17.91%-1261.83%93.69%8.48%-187.25%-3960.22%

RC Key Ratios

Ready Capital Corporation (RC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
FFO per Share5.968.789.811.880.832.531.872.42-2.44-1.57
FFO Payout Ratio29.5%17.52%16.3%79.94%126.78%64.42%85.64%59.8%0%-8.66%
NOI Margin47.5%49.61%81.84%100%100%100%100%100%100%-1450.97%
Net Debt / EBITDA10.58x9.49x16.79x-------38.07x
Debt / Assets46.73%70.36%75.96%78.97%76.71%83.06%80.35%58.23%59.51%45.33%
Interest Coverage--0.69x-1.11x-------
Book Value / Share20.7217.7117.5720.0915.518.6516.217.8211.3611.18
Revenue Growth115.49%22.31%3.56%25.03%94.39%-22.96%29.36%1.72%-92.98%-131.52%

RC SEC Filings & Documents

Ready Capital Corporation (RC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 24, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Nov 6, 2025·SEC

10-K Annual Reports

4
FY 2026

Mar 2, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

RC Frequently Asked Questions

Ready Capital Corporation (RC) stock FAQ — growth, dividends, profitability & financials explained

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 59.25%. 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 59.25% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More RC

Ready Capital Corporation (RC) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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