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Ellington Financial Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Ellington Financial Inc. holds $20.2B in total assets. Shareholders' equity is $1.9B against $643.0M in total debt. Cash and equivalents total $191.5M. Based on the Q1 2026 filing.

Total Assets$20.2BTotal Stockholders Equity$1.9BLong Term Debt$638.6MCash And Equivalents$191.5M
Latest FilingQ1 2026
Report Date2026-05-11
Market Cap$1.7B
P/E Ratio9.33
ROE10.33%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued interest$18.0M$20.5M$17.5M$20.6M$26.8M$17.7M
Accrued Expenses and Other Liabilities at Fair Value$293.6M$264.5M$264.5M$234.0M$272.7M$297.2M
Federal funds purchased and securities sold under repurchase agreements$2.6B$2.6B$2.3B$2.8B$2.7B$2.9B
Derivative Liabilities - Fair Value$70.1M$62.3M$74.2M$53.3M$42.7M$44.1M
Derivative Liabilities - Not Offset Policy Election Deduction$70.1M$62.3M$74.2M$53.3M$42.7M$44.1M
Derivative Liabilities Offset$70.1M$62.3M$74.2M$53.3M$42.7M$44.1M
Dividends payable$16.6M$17.0M$17.5M$18.6M$19.4M$19.1M
Deposits$22.2M$43.0M$46.0M$40.7M$35.9M$39.7M
Derivative liabilities$4.0K$607.0K$3.2M$114.0K$388.0K$607.0K
Trading liabilities$293.6M$264.5M$264.5M$234.0M$272.7M$297.2M
Lease Liability Payments - 2020 (Remaining Three Months)—————$724.0K
Operating Lease Liability Payments - 2024 (Lessee)—————$964.0K
Operating Lease Liability Payments - 2025 (Lessee)—————$479.0K
Lease Liability Payments - Due Year Two—————$964.0K
Lease Liability Payments - Due Year Three—————$950.0K
Lease Liability Payments - Due Year Four$948.0K$948.0K$948.0K$948.0K$479.0K$479.0K
Lease Liability Payments - Remainder of Fiscal Year—————$971.0K
Operating lease liabilities, current$5.7M$4.8M$4.6M$4.6M$4.5M$4.4M
Operating Lease Liability Payments Due—————$6.1M
Operating Lease Liability - Undiscounted Excess Amount$2.3M$2.1M$2.0M$1.9M$1.8M$1.7M
Payables to Broker Dealers and Clearing Organizations$55.4M$53.8M$30.1M$43.0M$48.1M$65.0M
Fair Value of Repurchase Agreement Collateral$3.3B$3.2B$3.0B$3.5B$3.3B$3.5B
Repurchase Agreements - Gross$2.6B$2.6B$2.3B$2.8B$2.7B$2.9B
Securities Sold Under Agreements to Repurchase - Not Offset Policy Election Deduction$162.0M$192.6M$43.1M$24.4M$24.3M$104.1M
Resale Agreement Collateral Obligation to Return$0.0$0.0$0.0$0.0$0.0$0.0

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Available-for-Sale Debt Securities - Amortized Cost$700.3M$717.6M$694.6M$696.3M$789.2M$876.3M
Available-for-Sale Debt Securities - Unrealized Loss Position (>=12 Months)$162.0M$139.9M$128.9M$131.7M$142.1M$150.1M
AFS and Trading Securities - Unrealized Loss Position (>=12 Months)$162.0M$139.9M$128.9M$131.7M$142.1M$150.1M
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$301.3M$253.7M$82.4M$53.3M$65.6M$217.9M
Available-for-Sale Debt Securities - Unrealized Loss Position (<12 Months)$301.3M$253.7M$82.4M$53.3M$65.6M$217.9M
Available-for-Sale Debt Securities - Unrealized Loss Position$38.5M$29.2M$21.6M$21.7M$26.8M$36.0M
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Fair Value$162.0M$139.9M$128.9M$131.7M$142.1M$150.1M
AFS and Trading Securities - Unrealized Loss Position Fair Value$463.3M$393.6M$211.3M$185.0M$207.7M$368.0M
AFS and Trading Securities - Unrealized Loss Position (<12 Months) Fair Value$301.3M$253.7M$82.4M$53.3M$65.6M$217.9M
Assets held for sale$46.7M$65.4M$48.8M$52.1M$75.5M$101.2M
Federal funds sold and securities purchased under resale agreements$336.7M$334.1M$348.4M$365.7M$453.0M$487.3M
Cash and cash equivalents$208.9M$217.3M$230.6M$205.6M$338.2M$191.5M
Cash, Cash Equivalents, and Marketable Securities$463.3M$393.6M$211.3M$185.0M$207.7M$368.0M
Derivative Assets - Net Reduction from Master Netting Arrangements$70.1M$62.3M$74.2M$53.3M$42.7M$44.1M
Derivative Collateral Right to Reclaim$5.3M$5.0M$4.5M$7.0M$6.9M$12.0M
Derivative assets$184.4M$157.3M$160.6M$151.2M$142.7M$152.8M
Net Cash Collateral Received - Derivative Instruments$956.0K$248.0K$4.4M$7.4M$10.0M$2.7M
Restricted cash$16.6M$14.0M$19.6M$20.8M$136.3M$28.3M

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
AFS and Trading Securities - Unrealized Loss Position (>=12 Months) Accumulated Loss$28.8M$23.9M$18.7M$18.2M$19.4M$22.8M
Common stock300M300M300M300M300M300M
Common Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Common Stock Shares Issued90.7M94.4M97.9M106.1M113.1M124.6M
Convertible Preferred Stock Authorized Shares100M100M100M100M100M100M
Convertible Preferred Stock Issued Shares13.8M13.8M13.8M13.8M13.8M9.2M
Convertible Preferred Stock Outstanding Shares13.8M13.8M13.8M13.8M13.8M9.2M
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March&#160;31, 2026 and December&#160;31, 2025, respectively$91.0K$94.0K$98.0K$106.0K$113.0K$125.0K
Investments - Gross Unrealized Losses$463.3M$393.6M$211.3M$185.0M$207.7M$368.0M
Noncontrolling interests$20.3M$23.4M$24.0M$30.1M$36.9M$37.9M
Other Equity$1.6B$1.7B$1.7B$1.8B$1.9B$2.1B
Preferred stock$332.0M$332.0M$332.0M$332.0M$332.0M$220.9M
Preferred Stock Liquidation Preference Value$345.0K$345.0K$345.0K$345.0K$345.0K$230.0K
Preferred Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Retained earnings-$375.1M-$379.3M-$374.0M-$384.7M-$413.0M-$366.1M
Share Repurchase Authorization Limit$45.1M$45.1M$45.1M$45.1M$45.1M$45.1M
Shares Reserved for Future Issuance Under Stock Plans1.3M1.1M1M1M944.1K528.5K
Total liabilities and stockholders' equity$16.3B$16.6B$17.1B$17.8B$19.4B$20.2B
Total stockholders' equity$1.6B$1.6B$1.7B$1.8B$1.8B$1.9B
Unrealized Gains on Investments$48.8M$40.6M$51.7M$52.8M$56.8M$57.9M
Unrealized Losses on Investments (Before Tax)$80.4M$79.5M$72.3M$73.2M$83.8M$94.6M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for credit losses$29.7M$33.8M$35.2M$38.1M$42.3M$43.1M
Deferred tax assets$92.5M$67.1M$64.2M$64.6M$90.1M$47.7M
Deferred Tax Assets - Investments-$31.7M———-$39.5M—
Equity Method Investments - Fair Value$220.1M$269.1M$307.7M$287.7M$312.4M$349.7M
Available-for-sale securities$962.3M$943.3M$938.5M$909.9M$1.0B$1.1B
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)$35.0K$35.0K$35.0K$35.0K$35.0K$35.0K
Finite-Lived Intangible Assets - Expected Amortization Expense (Year Five)$446.0K$446.0K$446.0K$446.0K$411.0K$411.0K
Intangible Assets Gross (Excluding Goodwill)$3.3M$3.3M$3.3M$3.3M$1.9M$1.9M
Intangible assets, net$971.0K$846.0K$720.0K$595.0K$586.0K$578.0K
Investments - Amortized Cost Basis$700.3M$717.6M$694.6M$696.3M$789.2M$876.3M
Mortgage servicing rights$29.8M$29.5M$29.3M$29.1M$28.9M$30.2M
Net Investment in Lease$5.2M$4.3M$4.1M$4.1M$4.0M$3.9M
Net Operating Loss Carryforwards$329.9M———$321.1M—
Income earned not collected$5.0M$4.9M$2.7M$3.2M$7.4M$8.0M
Intangible assets &#8212; net$971.0K$846.0K$720.0K$595.0K$586.0K$578.0K
Forward MSR-related investments, at fair value(1)$77.8M$87.2M$81.3M$74.7M$77.9M$72.8M
Other intangible assets&#8212;net$2.2M$2.0M$1.9M$1.8M$1.8M$1.8M
Loans, at fair value(1)(2)$14.0B$14.3B$14.7B$15.5B$16.6B$17.4B
Loan commitments, at fair value$6.7M$7.2M$8.8M$8.8M$9.1M$10.2M
Mortgage Loans On Real Estate$14.0B———$16.6B—
Operating lease right-of-use assets$5.2M$4.3M$4.1M$4.1M$4.0M$3.9M
Other Assets$32.8M$32.1M$33.0M$28.3M$26.4M$28.2M
Investment related receivables(1)$189.1M$184.4M$170.7M$159.6M$177.2M$239.4M
Fair value of servicing rights$29.8M$29.5M$29.3M$29.1M$28.9M$30.2M
Operating lease right-of-use assets8.9%9.2%9.2%9.2%9.2%9.2%
Operating Lease Right-of-Use Assets in Other Assets$5.2M$4.3M$4.1M$4.1M$4.0M$3.9M
Other non-current assets$32.8M$32.1M$33.0M$28.3M$26.4M$28.2M
Accumulated depreciation-$1.1M-$1.3M-$1.4M-$1.5M-$114.0K-$122.0K
Property and equipment, net$1.4M$1.2M$1.1M$960.0K$868.0K$1.1M
Tax Credit Carryforward Valuation Allowance-$71.3M———-$62.6M—
Total assets$16.3B$16.6B$17.1B$17.8B$19.4B$20.2B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$700.3M$717.6M$694.6M$696.3M$789.2M$876.3M
Gross Assets/Liabilities$71.0M$63.1M$81.8M$60.8M$53.1M$47.4M
Repurchase liability$2.6B$2.6B$2.3B$2.8B$2.7B$2.9B
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax$80.4M$79.5M$72.3M$73.2M$83.8M$94.6M
Gross Unrealized Gains$48.8M$40.6M$51.7M$52.8M$56.8M$57.9M
Total$700.3M$717.6M$694.6M$696.3M$789.2M$876.3M
Available for sale investments$962.3M$943.3M$938.5M$909.9M$1.0B$1.1B
Certificates of deposit, security deposits, and escrow cash$1.6M$1.2M$840.0K$1.2M$853.0K$1.3M
Common shares issued and outstanding upon conversion of all convertible securities (in shares)91.6M95.6M99M107.2M114.3M126.3M
Common stock, capital shares reserved for future issuance$1.3M$1.1M$1.0M$1.0M$944.1K$528.5K
Common stock, par value (in dollars per share)$0.0$0.0$0.0$0.0$0.0$0.0
Common stock, shares authorized (in shares)$300.0M$300.0M$300.0M$300.0M$300.0M$300.0M
Common stock, shares issued (in shares)$90.7M$94.4M$97.9M$106.1M$113.1M$124.6M
Common Stock, Shares, Outstanding$90.7M$94.4M$97.9M$106.1M$113.1M$124.6M
Debt Instrument, Unamortized Discount (Premium), Net-$389.8M-$633.7M-$391.8M-$483.2M-$245.7M-$252.1M
Debt Securities, Available-for-Sale, Allowance for Credit Loss$29.7M$33.8M$35.2M$38.1M$42.3M$43.1M
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss$28.8M$23.9M$18.7M$18.2M$19.4M$22.8M
Less than 12 months$301.3M$253.7M$82.4M$53.3M$65.6M$217.9M
12 months or more$162.0M$139.9M$128.9M$131.7M$142.1M$150.1M
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss$9.7M$5.3M$2.9M$3.5M$7.4M$13.1M
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss$38.5M$29.2M$21.6M$21.7M$26.8M$36.0M
Debt Securities, Available-for-Sale, Unrealized Loss Position$463.3M$393.6M$211.3M$185.0M$207.7M$368.0M
Capital loss carryforwards$10.5M———$12.0M—
Deferred Tax Assets, Gross$71.3M$67.1M$64.2M$64.6M$62.6M$47.7M
Deferred Tax Assets, Operating Loss Carryforwards$92.5M———$90.1M—
Deferred Tax Assets, Valuation Allowance-$71.3M———-$62.6M—
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election$64.1M$45.0M$56.1M$72.4M$62.2M$50.4M
Derivative Assets Liabilities At Fair Value Net$113.4M$94.2M$78.8M$90.4M$89.7M$105.5M
Derivative Liability$71.0M$63.1M$81.8M$60.8M$53.1M$47.4M
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election$4.0K$607.0K$3.2M$114.0K$388.0K$607.0K
Potential reduction in net position of total derivative liabilities$70.1M$62.3M$74.2M$53.3M$42.7M$44.1M
Equity Method Investments Fair Value Disclosure$220.1M$269.1M$307.7M$287.7M$312.4M$349.7M
Expected Principal Repayments Related to Consolidated European Mortgage Loan Securitizations$22.3M$20.1M$18.4M$31.4M$29.4M$15.4M
Expected Principal Repayments Related to Consolidated Reverse Mortgage Loan Securitizations$527.1M$122.7M$165.9M$320.2M$352.6M$375.6M
Finite-Lived Intangible Assets, Accumulated Amortization-$1.1M-$1.3M-$1.4M-$1.5M-$114.0K-$122.0K
2028$35.0K$35.0K$35.0K$35.0K$35.0K$35.0K
2030$35.0K$35.0K$35.0K$35.0K$35.0K$35.0K
2031$35.0K$35.0K$35.0K$35.0K$35.0K$35.0K
2027$385.0K$260.0K$134.0K$9.0K$35.0K$27.0K
2029$35.0K$35.0K$35.0K$35.0K$35.0K$35.0K
Finite Lived Intangible Assets Amortization Expense After Year Five$446.0K$446.0K$446.0K$446.0K$411.0K$411.0K
Capital expenditure incentive payables$0.0$4.5M——$0.0$19.2M
Indefinite- lived intangible impairment$3.3M$3.3M$3.3M$3.3M$1.9M$1.9M
Investment Owned At Fair Value, Net$668.7M$678.8M$673.9M$675.8M$762.2M$839.6M
Investment Owned Balance Principal Amount$13.7B$13.8B$14.2B$14.9B$16.0B$16.6B
Current Principal$903.5M$1.2B$872.3M$898.9M$565.2M$596.9M
Lessee Operating Lease Liability Payments Due—————$6.1M
Lessee Operating Lease Liability Undiscounted Excess Amount$2.3M$2.1M$2.0M$1.9M$1.8M$1.7M
Fair value of long-term debt$281.9M$247.3M$249.0M$251.9M$659.8M$638.6M
Noncontrolling interests in subsidiaries$20.3M$23.4M$24.0M$30.1M$36.9M$37.9M
Face amount$14.0B———$16.6B—
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans$565.6M———$723.0M—
Net Deferred Tax Asset (Liability), Net of Valuation Allowance$0.0———$0.0—
Number of HMBS pools being serviced89400.0%92900.0%96500.0%99700.0%102800.0%106200.0%
Number Of Real Estate Properties117.00135.00129.00146.00177.00199.00
Number of Counterparties with Outstanding Reverse Repurchase Agreements24.0024.0024.0024.0021.0022.00
Operating Lease Weighted Average Discount Rate Percent$0.1$0.1$0.1$0.1$0.1$0.1
Operating Loss Carryforwards$329.9M———$321.1M—
Other Additional Capital$1.6B$1.7B$1.7B$1.8B$1.9B$2.1B
Pre-tax Capital Loss Carryfoward$37.5M———$42.8M—
Preferred stock, liquidation preference, value$345.0K$345.0K$345.0K$345.0K$345.0K$230.0K
Preferred Stock, Par or Stated Value Per Share$0.0$0.0$0.0$0.0$0.0$0.0
Preferred Stock, Shares Authorized$100.0M$100.0M$100.0M$100.0M$100.0M$100.0M
Preferred Stock, Shares Issued$13.8M$13.8M$13.8M$13.8M$13.8M$9.2M
Preferred Stock, Shares Outstanding$13.8M$13.8M$13.8M$13.8M$13.8M$9.2M
Prepaid expenses and deferred offering costs$12.4M$11.8M$13.4M$12.4M$6.8M$6.0M
Prepaid scheduled draws on reverse mortgage loans$3.4M$4.0M$3.6M$3.8M$3.6M$4.4M
REO, fair value$19.0M$19.8M$20.1M$23.9M$41.7M$55.2M
Receivables and claims related to reverse mortgage loans repurchased from HMBS$1.2M$840.0K$1.2M$701.0K$1.1M$1.8M
Repurchase Agreements amount at risk threshold10.0%10.0%10.0%10.0%10.0%10.0%
Restricted Stock, Shares, Outstanding16.8K16.8K16.8K35.2K18.4K18.4K
Securities purchased under resale agreements where an appropriate legal opinion with respect to the master netting agreement has not been either sought or obtained$336.7M$334.1M$348.4M$365.7M$453.0M$487.3M
Securities Purchased under Agreements to Resell, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election$0.0$0.0$0.0$0.0$0.0$0.0
Repurchase agreements, Gross amounts not offset in the balance sheet, Cash collateral pledged$5.3M$5.0M$4.5M$7.0M$6.9M$12.0M
Carrying value of assets pledged as collateral against repurchase agreements$3.3B$3.2B$3.0B$3.5B$3.3B$3.5B
Securities Sold under Agreements to Repurchase, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election$0.0$0.0$0.0$0.0$0.0$0.0
Servicer Advances Receivable$93.5M$93.5M$93.5M$93.5M$93.5M$93.5M
Share Repurchase Program, Authorized, Amount$45.1M$45.1M$45.1M$45.1M$45.1M$45.1M
Total secured borrowings$13.9B$14.3B$14.6B$15.3B$16.3B$17.1B
Unpaid principal balance of loans in HMBS - Servicing$8.8B$9.1B$9.4B$9.6B$9.9B$10.2B
Unpaid principal balance of reverse mortgage loans in servicing portfolio$2.7B$2.7B$2.7B$2.7B$2.7B$2.6B
Unpaid principal balance on unactive loans$388.2M$409.0M$421.4M$472.9M$520.1M$518.0M
Remainder of Fiscal Year 2024—————$724.0K

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Instrument - Effective Interest Rate————6.7%6.5%
Debt - Unamortized Discount (Premium) and Issuance Costs, Net-$389.8M-$633.7M-$391.8M-$483.2M-$245.7M-$252.1M
Operating Lease Liability Payments - 2026 (Lessee)—————$950.0K
Operating Lease Liability Payments - 2027 (Lessee)—————$2.0M
Operating Lease Liability Payments - 2028 (Lessee)—————$479.0K
Operating Lease Liability Payments - 2029 (Lessee)—————$2.0M
Long-term debt$281.9M$247.3M$249.0M$251.9M$659.8M$638.6M
Accrued expenses and other liabilities$38.6M$42.5M$43.1M$50.5M$55.1M$57.9M
HMBS-related obligations, at fair value$9.2B$9.5B$9.8B$10.1B$10.4B$10.8B
Base management fee payable to affiliate$5.9M$6.1M$6.3M$6.2M$6.9M$7.1M
Other secured borrowings, at fair value(1)$1.9B$1.9B$2.1B$2.2B$2.9B$3.1B
Payables to customers and broker-dealers$22.7M$28.5M$42.8M$41.3M$36.1M$55.4M
Operating Lease Liabilities (Total)$5.7M$4.8M$4.6M$4.6M$4.5M$4.4M
Other non-current liabilities$71.0M$63.1M$81.8M$60.8M$53.1M$47.4M
Other Secured Financings$253.3M$268.2M$340.3M$189.2M$296.4M$264.4M
Secured Borrowings Cash Right to Reclaim$956.0K$248.0K$4.4M$7.4M$10.0M$2.7M
Total liabilities$14.7B$15.0B$15.4B$16.0B$17.5B$18.3B