Income StatementBalance SheetCash FlowSegments
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Ladder Capital Cash Flow Statement

Operating, investing, and financing cash movements

Ladder Capital generated $107.8M in operating cash flow over the trailing twelve months. After $8.2M in capital expenditures, free cash flow was $99.5M. Free cash flow decreased 0.4% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$107.8MNet Cash From Investing (TTM)-$1.7BNet Cash From Financing (TTM)$1.1BCapital Expenditures (TTM)$8.2MDepreciation And Amortization Cf (TTM)$33.6MNet Change In Cash (TTM)-$481.8M
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$1.3B
P/E Ratio23.81
ROE3.69%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt issuance costs and discount amortization-$209.0K-$178.0K-$152.0K-$163.0K-$159.0K-$151.0K
Amortization of debt issuance costs$2.4M$2.4M$2.4M$2.5M$2.4M$2.6M
Amortization of Investment Discount and Premium$373.0K$476.0K$492.0K$245.0K—$75.0K
Accretion (amortization) of discounts and premiums on investments$373.0K$476.0K$492.0K$245.0K—$75.0K
Change in accrued investment income-$3.8M$2.3M—$1.2M$1.4M$2.0M
Change in accrued liabilities-$89.6M$14.2M-$45.8M-$3.5M—-$29.7M
Change in other assets$3.5M$609.0K$3.2M—$1.5M$954.0K
Deferred income taxes-$1.1M$459.0K-$2.2M$0.0-$370.0K$121.0K
Depreciation and amortization$7.5M$7.3M$8.0M$8.2M$8.4M$8.9M
Net gains (losses) on investments-$925.0K$687.0K$103.0K—$136.0K-$1.9M
Gain (loss) on sale of assets$12.4M$3.8M$0.0$0.0$0.0$0.0
Accretion (Amortization) of Investment Discounts and Premiums$373.0K$476.0K$492.0K$245.0K—$75.0K
Loans held for sale activity$0.0$63.4M———$12.5M
Loss on extinguishment of debt$0.0$256.0K$1.0K-$106.0K$0.0$0.0
Net cash from operating activities—-$28.7M$44.0M$26.3M$45.4M-$8.0M
Net income$31.3M$11.6M$17.1M$19.2M$15.9M$2.6M
Accretion (Amortization) Of Discounts And Premiums, Loans$3.7M$2.7M——$2.4M$4.5M
Accretion (Amortization) of Discounts and Premiums, Investments$373.0K$476.0K$492.0K$245.0K—$75.0K
Amortization of above and below Market Leases-$413.0K-$402.0K-$346.0K-$320.0K-$227.0K-$229.0K
Amortization Of Debt Discount Premium-$209.0K-$178.0K-$152.0K-$163.0K-$159.0K-$151.0K
Amortization expense related to capitalized debt issuance costs$2.4M$2.4M$2.4M$2.5M$2.4M$2.6M
Debt and Equity Securities, Realized Gain$97.0K$541.0K$488.0K$2.0M$751.0K$983.0K
Gain (Loss) on Sale of Properties$12.4M$3.8M$0.0$0.0$0.0$0.0
Income (Loss) from Equity Method Investments, Additional Interest-$68.0K-$732.0K-$288.0K-$414.0K$0.0-$256.0K
Increase (Decrease) in Accrued Interest Receivable, Net-$3.8M$2.3M—$1.2M$1.4M$2.0M
Increase (Decrease) in Deferred Income Taxes-$1.1M$459.0K-$2.2M$0.0-$370.0K$121.0K
Increase (Decrease) in Other Operating Assets$3.5M$609.0K$3.2M—$1.5M$954.0K
Loss (Gain) on Sales of Loans, Held-For-Sale—$162.0K$4.9M$0.0$16.0K$73.0K
Payments For Origination Of Mortgage Loans Held For Sale$0.0$63.4M———$12.5M
Gain (loss) on mark-to-market of Escrowed Shares-$308.0K$35.0K-$220.0K$0.0-$26.0K$106.0K
Accretion (Amortization) of Investment Discounts and Premiums$373.0K$476.0K$492.0K$245.0K—$75.0K
Stock-based compensation$2.2M$11.2M$3.0M$3.0M$3.1M$14.2M
Unrealized Gain (Loss) on Derivatives-$308.0K$35.0K-$220.0K$0.0-$26.0K$106.0K

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$1.7M$872.0K$635.0K$479.0K$6.4M$743.0K
Payments for Capital Improvements$1.7M$872.0K$635.0K$479.0K$6.4M$743.0K
Payments to Acquire Loans and Leases Held For Investment and Origination of Loans$123.4M$253.0M$159.6M$476.1M$406.3M$555.3M
Payments to Acquire Securities$315.0M$521.8M$591.7M$366.7M$469.5M$269.7M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$68.2M$84.5M$116.1M$164.3M$169.2M$121.4M
Proceeds From Sale Of Mortgage Loans Held For Sale$0.0$0.0$66.8M——$12.9M
Proceeds From Sale Of Real Estate Heldforinvestment$44.6M$13.1M———$0.0
Proceeds from sales of securities$21.6M$39.9M$19.5M$257.4M$95.1M$162.0M
Basis recovery of interest-only securities$768.0K$496.0K$562.0K$443.0K$369.0K$367.0K
Net cash from investing activities$199.1M-$373.8M-$405.6M-$291.4M-$536.5M-$450.9M
Proceeds from maturities/sales of investments$68.2M$84.5M$116.1M$164.3M$169.2M$121.4M
Proceeds from Principal Repayments on Loans and Leases$503.9M$264.0M$210.2M$129.9M$106.9M$91.1M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dividends paid$28.9M$30.7M$29.0M$28.8M$28.8M$30.5M
Payments of Ordinary Dividends$28.9M$30.7M$29.0M$28.8M$28.8M$30.5M
Proceeds from borrowings under debt obligations$13.3M$250.0K$347.5M$2.0B$2.2B$4.2B
Repayments And Repurchase of Borrowings Under Debt Obligations$463.2M$367.0M$335.2M$1.8B$1.7B$3.7B
Net cash from financing activities-$492.1M-$410.2M-$23.5M$179.7M$481.1M$457.6M
Payment of debt issuance costs$8.8M$1.7M$152.0K$9.3M$866.0K$5.4M
Repurchases of common stock$4.5M$2.3M$6.6M$1.5M$1.3M$13.4M
Taxes paid for net share settlement$0.0$8.7M—$10.0K—$9.1M
Payments of consent fees related to long-term debt$8.8M$1.7M$152.0K$9.3M$866.0K$5.4M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow—-$29.6M$43.4M$25.9M$39.0M-$8.7M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash—-$812.7M-$385.0M-$85.4M-$10.1M-$1.3M
Repayment in transit of mortgage loans receivable held for investment (other assets)$129.5M$19.8M-$18.9M-$1.0M$125.0K$0.0
Repayments in transit of securities (other assets)$0.0$582.0K——$106.0K$3.0M
Non-cash disposition of loans via foreclosure$0.0$0.0-$42.4M-$22.7M$0.0-$79.7M
Securities purchased, not settled$15.0K$19.0K$31.8M$25.1M-$56.9M$5.3M
Real estate and real estate held for sale acquired in settlement of mortgage loans receivable held for investment, net$0.0$0.0$42.4M$22.7M$0.0$79.7M