Ellington Credit Co (EARN)
Ellington Residential Mortgage REIT functions as a real estate investment trust (REIT), with its core business focused on the acquisition, investment, and oversight of assets tied to residential mortgages and real estate. The company's holdings primarily include various Residential Mortgage-Backed Securities (RMBS), such as government-backed agency pools and agency Collateralized Mortgage Obligations (CMOs). Additionally, it invests in non-agency RMBS, which encompasses non-agency CMOs ranging from investment-grade to non-investment-grade ratings. Having opted for REIT tax treatment, the company benefits from an exemption from corporate income tax on the segment of its net earnings that are distributed to its investors. Ellington Residential Mortgage REIT was established in 2012 and is headquartered in Old Greenwich, Connecticut.
Sector: Real Estate Investment Trusts
Industry: Asset Management
Ellington Credit Company
NYSE:EARNFinancial Services · Asset Management
+1.40%$3.63
AH Close$3.63+0.00%vs close
AH Close$3.63+0.00%vs close
Mkt Cap$136.37M
Float37.06M
O/S37.57M
Inst Own3.8%
SI2.0%
Div Yield26.45%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$42.57M
Net Income-$14.45M
Total Assets$386.93M
Free Cash Flow$540.72M
Debt & Equity
Debt 59%
Equity 41%
Total Debt$220.27M
Total Equity$153.82M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in EARN's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$386.93M
Liabilities$233.1M
Accounts Receivable$18.07M
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $42.57M | $50.67M | $55.35M | -$10.25M | $2.17M | $35.9M | $62.82M | $26.73M | $35.54M | $26.19M | $11.41M | $26.43M | $5.47M | $956K |
| YoY Growth | -16.0% | -8.4% | -640.0% | -573.2% | -94.0% | -42.8% | 135.0% | -24.8% | 35.7% | 129.5% | -56.8% | 383.4% | 472.0% | - |
| Cost of Revenue | $6.21M | $34.79M | $45.26M | $14.82M | $2.72M | $9.96M | $35.28M | $32.52M | $19.05M | $9.27M | $6.24M | $4.51M | $3.06M | $0 |
| Gross Profit | $36.36M | $15.88M | $10.09M | -$25.07M | -$557K | $25.94M | $27.54M | -$5.79M | $16.49M | $16.91M | $5.17M | $21.92M | $2.41M | $956K |
| Gross Margin | 85.4% | 31.3% | 18.2% | 244.6% | -25.7% | 72.2% | 43.8% | -21.6% | 46.4% | 64.6% | 45.4% | 82.9% | 44.1% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $520K | $1.93M | $1.12M | $1.11M | $1.1M | $3.29M | $3.17M | $3.43M | $3.76M | $3.09M | $3.33M | $2.96M | $2.47M | $3.27M |
| Other | $44.3M | $6.86M | $4.42M | $4.02M | $4.65M | $2.54M | $2.12M | $2.07M | $1.95M | $1.92M | $1.81M | $2.79M | $1.86M | $0 |
| Total Operating Expenses | $44.82M | $8.78M | $5.54M | $5.13M | $5.75M | $5.83M | $5.29M | $5.51M | $5.7M | $5.01M | $5.14M | $5.75M | $4.33M | $3.1M |
| Operating Income (EBIT) | -$8.44M | $7.1M | $4.56M | -$30.2M | -$6.31M | $20.11M | $22.26M | -$11.29M | $10.79M | $11.91M | $30K | $16.17M | -$1.91M | -$2.49M |
| Operating Margin | -19.8% | 14.0% | 8.2% | 294.6% | -291.3% | 56.0% | 35.4% | -42.3% | 30.4% | 45.5% | 0.3% | 61.2% | -35.0% | -260.7% |
| Interest Expense | $10.52M | $34.79M | $45.26M | $14.82M | $2.72M | $9.96M | $35.28M | $32.52M | $19.05M | $9.27M | $6.24M | $4.51M | $3.06M | $0 |
| Interest Income | $43.28M | $49.86M | $42.55M | $35.01M | $28.36M | $27.32M | $43.85M | $54.55M | $49.19M | $33.5M | $40.75M | $46.82M | $27.87M | $0 |
| Other Income (Expense) | -$6.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.96M |
| Income Before Tax (EBT) | -$14.46M | $7.1M | $4.56M | -$30.2M | -$6.31M | $20.11M | $22.26M | -$11.29M | $10.79M | $11.91M | $30K | $16.17M | -$1.91M | -$2.14M |
| Income Tax Expense | -$6K | $510K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $348K |
| Net Income | -$14.45M | $6.59M | $4.56M | -$30.2M | -$6.31M | $20.11M | $22.26M | -$11.29M | $10.79M | $11.91M | $30K | $16.17M | -$1.91M | -$2.14M |
| Net Income Margin | -33.9% | 13.0% | 8.2% | 294.6% | -291.3% | 56.0% | 35.4% | -42.3% | 30.4% | 45.5% | 0.3% | 61.2% | -35.0% | -224.3% |
| Supplementary Data | ||||||||||||||
| EPS | -0.41 | 0.24 | 0.31 | -2.29 | -0.50 | 1.63 | 1.79 | -0.88 | 0.93 | 1.31 | 0.00 | 1.77 | -0.29 | -0.23 |
| Diluted EPS | -0.38 | 0.24 | 0.31 | -2.29 | -0.50 | 1.63 | 1.79 | -0.88 | 0.93 | 1.31 | 0.00 | 1.77 | -0.29 | -0.23 |
| Weighted Average OS | 37.57M | 27.16M | 14.88M | 13.16M | 12.68M | 12.35M | 12.46M | 12.81M | 11.60M | 9.12M | 9.14M | 9.14M | 6.57M | 9.13M |
| EBITDA | -$8.44M | $7.1M | $4.56M | -$27.91M | -$6.31M | $20.11M | $22.26M | -$11.29M | $10.79M | $27.69M | $9.45M | $23.34M | -$1.91M | $1.96M |
| EBITDA Margin | -19.8% | 14.0% | 8.2% | 272.3% | -291.3% | 56.0% | 35.4% | -42.3% | 30.4% | 105.7% | 82.8% | 88.3% | -35.0% | 204.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $57.73M | $31.84M | $38.53M | $34.82M | $69.03M | $58.17M | $35.35M | $18.59M | $56.12M | $33.5M | $40.17M | $45.24M | $50.11M | $18.16M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $57.73M | $31.84M | $38.53M | $34.82M | $69.03M | $58.17M | $35.35M | $18.59M | $56.12M | $33.5M | $40.17M | $45.24M | $50.11M | $18.16M |
| Accounts Receivable | $18.07M | $43.13M | $58.9M | $55.6M | $93.17M | $51.91M | $45.11M | $103.86M | $54.14M | $87.35M | $193.15M | $65.16M | $99.81M | $39K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$18.2M |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $39K |
| Total Current Assets | $75.8M | $74.97M | $97.43M | $90.42M | $162.19M | $110.08M | $80.46M | $122.44M | $110.26M | $120.85M | $233.31M | $110.39M | $149.92M | $39K |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $308.36M | $725.78M | $847.83M | $962.28M | $1.32B | $2.17B | $2.81B | $3.09B | $3.38B | $2.46B | $2.49B | $2.79B | $2.69B | $13.6M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $2.77M | $23.34M | $431K | $935K | $117.96M | -$1.08B | -$1.4B | -$1.54B | -$1.6B | -$1.15B | -$1.16B | -$1.38B | -$1.33B | $18.56M |
| Total Long-Term Assets | $311.13M | $749.12M | $848.26M | $963.21M | $1.44B | $1.08B | $1.41B | $1.55B | $1.78B | $1.31B | $1.32B | $1.41B | $1.36B | $32.16M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$39K |
| Total Assets | $386.93M | $824.09M | $945.69M | $1.05B | $1.6B | $1.19B | $1.49B | $1.68B | $1.89B | $1.43B | $1.56B | $1.52B | $1.51B | $32.16M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $0 | $32.55M | $57.29M | $50.36M | $2.84M | $1.53M | $3.76M | $6.31M | $3.81M | $2.97M | $1.8M | $1.27M | $23.55M | $0 |
| Short-Term Debt | $166.27M | $562.97M | $729.54M | $842.46M | $1.06B | $1.02B | $1.3B | $1.48B | $1.6B | $1.2B | $1.22B | $1.32B | $1.31B | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$4.43M | -$5.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $166.27M | $595.52M | $787.98M | $893.91M | $1.07B | $1.02B | $1.3B | $1.49B | $1.6B | $1.2B | $1.23B | $1.33B | $1.33B | $1.19M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $54M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | -$153.44M | $34.84M | $21.47M | $47.31M | $375.33M | $10.71M | $27.64M | $33.04M | $92.64M | $85.87M | $186.78M | $32.47M | $9.02M | $0 |
| Total Long-Term Liabilities | -$99.44M | $34.84M | $21.47M | $47.31M | $375.33M | $10.71M | $27.64M | $33.04M | $92.64M | $85.87M | $186.78M | $32.47M | $9.02M | $1.19M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.19M |
| Total Liabilities | $233.1M | $630.37M | $809.45M | $941.22M | $1.44B | $1.03B | $1.33B | $1.52B | $1.69B | $1.29B | $1.41B | $1.36B | $1.34B | $1.19M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $153.82M | $297K | $186K | $134K | $131K | $123K | $124K | $125K | $134K | $92K | $92K | $91K | $91K | $16K |
| Retained Earnings | -$39.95M | -$155.16M | -$138.65M | -$128.66M | -$84.77M | -$63.34M | -$69.64M | -$77.19M | -$47.49M | -$39.41M | -$36.26M | -$18.01M | -$14.06M | -$1.73M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $39.95M | $348.59M | $274.7M | $240.94M | $238.87M | $229.61M | $230.36M | $230.89M | $240.06M | $181M | $181.03M | $181.28M | $181.15M | $32.67M |
| Total Equity | $153.82M | $193.73M | $136.24M | $112.41M | $154.22M | $166.4M | $160.84M | $153.82M | $192.7M | $141.68M | $144.85M | $163.37M | $167.18M | $30.96M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $386.93M | $824.09M | $945.69M | $1.05B | $1.6B | $1.19B | $1.49B | $1.68B | $1.89B | $1.43B | $1.56B | $1.52B | $1.51B | $32.16M |
| Supplementary Data | ||||||||||||||
| Total Debt | $220.27M | $562.97M | $729.54M | $842.46M | $1.06B | $1.02B | $1.3B | $1.48B | $1.6B | $1.2B | $1.22B | $1.32B | $1.31B | $0 |
| Net Debt | $162.55M | $531.13M | $691.01M | $807.64M | $995.81M | $957.08M | $1.26B | $1.46B | $1.54B | $1.16B | $1.18B | $1.28B | $1.26B | -$18.16M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$38.85M | $6.59M | $4.56M | -$30.2M | -$6.31M | $20.11M | $22.26M | -$11.29M | $10.79M | $11.91M | $30K | $16.17M | -$1.91M | -$2.14M |
| Depreciation & Amortization | $0 | $0 | $0 | $2.29M | $0 | $0 | $0 | $0 | $0 | $15.79M | $9.41M | $7.17M | $0 | $2.49M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$15.79M | -$9.41M | -$7.17M | $0 | $0 |
| Stock-Based Compensation | $98K | $442K | $255K | $312K | $271K | $241K | $216K | $203K | $196K | $165K | $120K | $135K | $46K | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $59K | -$487K | -$1.2M | $1.18M | -$390K | $902K | $591K | $177K | -$1.15M | -$308K | $468K | -$27K | -$23.07M | -$156K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $794K | -$935K | -$1.89M | $3.81M | $415K | -$3.26M | -$1.25M | $1.66M | $1.41M | $551K | $674K | -$77K | $764K | $0 |
| Other Working Capital | $497.57M | $360K | $133K | -$232K | $171K | $685K | -$216K | -$73K | $22.47M | -$15.48M | -$15.24M | -$22.51M | $23.38M | $0 |
| Total Working Capital Change | $497.63M | -$1.06M | -$2.95M | $4.76M | $196K | -$1.67M | -$877K | $1.77M | $22.72M | -$15.24M | -$14.1M | -$22.61M | $1.07M | -$156K |
| Other Non-Cash Items | $81.84M | $3.15M | -$11.89M | $45.26M | $33.72M | $5.69M | -$4.06M | $38.17M | $26.54M | $23.09M | $38.76M | $27.57M | $26.31M | $32K |
| Net Cash from Operating | $540.72M | $9.11M | -$10.02M | $22.42M | $27.88M | $24.37M | $17.53M | $28.85M | $60.25M | $19.93M | $24.8M | $21.26M | $25.51M | $224K |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$331.25M | -$4.07B | -$8.32B | -$2.92B | -$2.31B | -$1.27B | -$2.23B | -$2.53B | -$3.27B | -$2.89B | -$2.79B | -$2.26B | -$2.92B | $0 |
| Sales of Investments | $675.95M | $4.2B | $8.4B | $2.86B | $2.41B | $1.57B | $2.44B | $2.52B | $2.8B | $2.9B | $2.95B | $2.25B | $1.47B | $0 |
| Other Investing Activities | $0 | -$15.2M | $3.34M | $163.61M | -$115.1M | -$142K | $7.6M | $69.61M | -$6.45M | $3.62M | -$64.64M | -$13.99M | $0 | -$53.58M |
| Net Cash from Investing | $344.7M | $116.45M | $85.72M | $110.55M | -$15.23M | $304.06M | $221.85M | $62.83M | -$477.89M | $13.86M | $90.07M | -$19.03M | -$1.45B | -$53.58M |
| Financing Activities | ||||||||||||||
| Debt Repaid | -$52.31M | - | - | - | - | - | - | - | -$399.23M | - | - | - | - | - |
| Common Stock Issuance | -$310K | $74.06M | $33.8M | $2.11M | $9.29M | $0 | $0 | $0 | $59.1M | $0 | $0 | $0 | $150M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | -$262K | $0 | -$986K | -$747K | -$9.39M | $0 | -$196K | -$375K | $0 | $0 | $0 |
| Dividends Paid | -$35.92M | -$22.21M | -$14.12M | -$13.94M | -$17.27M | -$13.84M | -$15.47M | -$19.09M | -$17.59M | -$15.51M | -$19.21M | -$19.66M | -$5.85M | $0 |
| Other Financing Activities | -$3.7M | -$17.68M | $21.25M | $67.29M | -$43.39M | -$9.76M | -$206.41M | -$100.74M | $0 | -$24.75M | -$100.36M | $12.55M | $1.31B | $94.5M |
| Net Cash from Financing | -$339.7M | -$132.25M | -$71.98M | -$167.18M | -$1.79M | -$305.61M | -$222.62M | -$129.21M | $440.25M | -$40.45M | -$119.94M | -$7.11M | $1.45B | $126M |
| Forex Effect | -$519.84M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $25.89M | -$6.69M | $3.72M | -$34.21M | $10.86M | $22.82M | $16.77M | -$37.53M | $22.61M | -$6.66M | -$5.07M | -$4.88M | $31.95M | $72.64M |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $540.72M | $9.11M | -$10.02M | $22.42M | $27.88M | $24.37M | $17.53M | $28.85M | $60.25M | $19.93M | $24.8M | $21.26M | $25.51M | $224K |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $540.72M | $9.11M | -$10.02M | $22.42M | $27.88M | $24.37M | $17.53M | $28.85M | $60.25M | $19.93M | $24.8M | $21.26M | $25.51M | $224K |
| Cash at Beginning | $31.84M | $38.53M | $34.82M | $69.03M | $58.17M | $35.35M | $18.59M | $56.12M | $33.5M | $40.17M | $45.24M | $50.11M | $18.16M | $0 |
| Cash at End | $57.73M | $31.84M | $38.53M | $34.82M | $69.03M | $58.17M | $35.35M | $18.59M | $56.12M | $33.5M | $40.17M | $45.24M | $50.11M | $72.64M |