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Ready Capital Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Ready Capital holds $6.3B in total assets. Shareholders' equity is $1.3B against $1.4B in total debt. Cash and equivalents total $241.2M. Based on the Q1 2026 filing.

Total Assets$6.3BTotal Stockholders Equity$1.3BLong Term Debt$1.3BCash And Equivalents$241.2M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$294.1M
ROE-30.67%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued expenses$39.6M$29.3M$31.2M$37.7M$35.7M$24.4M
Accrued interest$39.7M$42.8M$43.0M$40.0M$40.3M$33.7M
Accrued Manufacturing Costs$39.6M$29.3M$31.2M$37.7M$35.7M$24.4M
Convertible Debt - Current$8.4M$8.4M$8.4M$8.4M$8.4M$8.4M
Accounts Payable And Other Accrued Liabilities$188.1M$185.5M$184.7M$166.4M$171.6M$161.2M
Compensation and benefits$39.6M$29.3M$31.2M$37.7M$35.7M$24.4M
Current portion of long-term debt—$699.0M$649.3M$649.3M—$100.0M
Derivative Liabilities - Fair Value$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Liabilities Offset$2.9M$951.0K$2.2M$1.6M$1.4M$948.0K
Dividends payable$43.2M$23.9M$22.9M$22.6M$3.6M$3.7M
Derivative liabilities$2.1B$2.7B$3.5B$2.9B$2.8B$2.3B
Professional Service Fees Payable$5.5M$4.8M$7.9M$2.5M$2.7M$718.0K

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$2.3B$2.3B$2.3B$2.3B$2.3B$2.3B
Accumulated other comprehensive income (loss)-$18.6M-$21.7M-$23.3M-$24.1M-$24.2M-$24.5M
Common stock17K500M500M500M500M500M
Common Stock Par Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00
Common Stock Shares Issued162.8M172.5M164.3M161.8M163M165.3M
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$17.0K$17.0K$17.0K$17.0K$17.0K$17.0K
Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding$111.4M$111.4M$111.4M$111.4M$111.4M$111.4M
Noncontrolling interests$97.7M$99.6M$98.5M$100.5M$99.2M$100.8M
Preferred stock$111.4M$111.4M$111.4M$111.4M$111.4M$111.4M
Preferred Stock Liquidation Preference Value$25.00$25.00$25.00$25.00$25.00$25.00
Retained earnings-$505.1M-$450.3M-$528.5M-$569.7M-$807.5M-$1.0B
Temporary Equity Attributable to Parent$8.4M$8.4M$8.4M$8.4M$8.4M$8.4M
Total liabilities and stockholders' equity$10.1B$10.0B$9.3B$8.3B$7.8B$6.3B
Total stockholders' equity$1.8B$1.9B$1.8B$1.8B$1.5B$1.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aggregate Notional Principal Outstanding$457.4M$457.4M$457.4M$444.0M$438.7M$438.7M
Nonperforming Loans and Leases Percentage6.3%11.0%11.5%7.2%25.5%29.3%
Loans 90+ Days Past Due Percentage100.0%100.0%100.0%100.0%100.0%100.0%
Derivative Notional Amount$457.4M$457.4M$457.4M$444.0M$438.7M$438.7M
Fair Value Measurement Disclosure$352.0K$575.0K$2.0M$1.6M$1.4M$948.0K
Gross Assets/Liabilities$352.0K$575.0K$2.0M$1.6M$1.4M$948.0K
Line of Credit Maximum Borrowing Capacity—$4.5B$5.4B$5.5B—$4.2B
Managed Servicing Portfolio$9.0B$9.2B$9.3B$9.4B$9.4B$9.3B
PPP liabilities$20.9M$15.3M$12.8M$10.4M$8.6M$3.8M
Accrued Professional Fees Current And Noncurrent$5.5M$4.8M$7.9M$2.5M$2.7M$718.0K
Below Market Lease Accumulated Amortization———$6.0K$14.0K$22.0K
Below Market Lease Gross———$417.0K$418.0K$426.0K
Borrowings Under Guaranteed Investment Agreements$691.1M$668.8M$629.4M$565.9M$524.1M$501.7M
Business Combination, Contingent Consideration, Liability$573.0K$16.0M$17.2M$18.4M$18.7M$20.4M
Total REO, held for sale$142.7M——$322.4M$360.1M$351.7M
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)$500.0M$500.0M$500.0M$500.0M$500.0M$500.0M
Common stock, shares issued (in shares)$162.8M$172.5M$164.3M$161.8M$163.0M$165.3M
Common Stock, Shares, Outstanding$162.8M$172.5M$164.3M$161.8M$163.0M$165.3M
Other Contractual Commitments—$9.5M$9.0M$9.2M—$8.4M
Other Contractual Commitments - Remainder of Fiscal Year 2024—$127.0K$54.0K$21.0K—$168.0K
Contractual Obligation, to be Paid, Year Four—$9.5M$9.0M$9.2M—$8.4M
Contractual Obligation, to be Paid, Year Two—$4.7M$3.9M$3.5M—$3.7M
Contractual Obligation, to be Paid, Year Three—$7.3M$6.2M$5.4M—$6.2M
Contractual Obligation, to be Paid, Remainder of Fiscal Year—$127.0K$54.0K$21.0K—$168.0K
Thereafter—$646.3M$609.6M$547.3M—$481.0M
Long-term debt, gross—$1.5B$1.4B$1.4B—$1.3B
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net—$24.2M$23.8M$22.4M—$17.6M
Deferred financing costs$8.1M$10.1M$10.2M$12.3M$12.5M$10.4M
Deferred loan exit fees$27.8M$25.9M$23.7M$22.5M$19.2M$10.1M
Derivative Asset, Subject to Master Netting Arrangement, Liability Offset$25.4M$20.1M$18.3M$16.5M$13.0M$14.9M
Derivative, gross, assets$33.4M$27.1M$24.0M$21.8M$19.7M$19.0M
Derivative Asset, Including Not Subject to Master Netting Arrangement, after Offset and Deduction$8.0M$6.9M$5.8M$5.3M$6.7M$4.1M
Derivatives, gross, liabilities$352.0K$575.0K$2.0M$1.6M$1.4M$948.0K
Derivative Liability$352.0K$575.0K$2.0M$1.6M$1.4M$948.0K
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral$2.9M$951.0K$2.2M$1.6M$1.4M$948.0K
Derivative Liability, Security Sold under Agreement to Repurchase, and Security Loaned, Subject to Master Netting Arrangement, Deduction of Financial Instrument Not Offset$2.1B$2.7B$3.5B$2.9B$2.8B$2.3B
Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash$0.0$0.0$0.0$0.0$0.0$0.0
Notional$457.4M$457.4M$457.4M$444.0M$438.7M$438.7M
Due from servicers$7.0M$8.1M$0.0$8.1M$72.0M$28.0M
Receivable from third party$34.5M$35.4M$41.1M$47.2M$44.0M$57.2M
Equity method investments (Note 11)$161.6M$170.9M$169.4M$178.8M$161.4M$167.3M
Equity Method Investments Fair Value Disclosure$6.6M$6.4M$6.2M$6.0M$5.7M$5.5M
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value$105.7M$104.0M$96.0M$97.6M$98.7M$91.0M
Financing Receivable And Loans Held For Sale, After Allowance for Credit Loss And Valuation Allowance, Unpaid Principal Balance$9.0B$9.0B$8.5B$6.8B$6.3B$4.9B
Total, Carrying Value$8.5B$8.4B$7.9B$6.5B$5.9B$4.5B
Loans modified, nonaccrual—————$232.2M
Number of loans that did not make payments in accordance with their modified terms—14.0017.0030.00—52.00
Allowance for loan losses related to non-accrual loans-$125.2M-$192.6M-$178.2M-$47.8M-$133.8M-$146.7M
UPB of non-accrual loans$654.5M$1.1B$1.0B$503.8M$1.5B$1.4B
Non-accrual loans with an allowance$509.8M$797.7M$802.2M$434.0M$1.3B$1.2B
Originated, at amortized cost, more than five years before current fiscal year$1.6B$1.9B$1.8B$1.2B$1.1B$1.9B
2021$295.4M$2.3B$2.1B$2.0B$1.4B$1.3B
Year one$580.8M$94.4M$152.4M$210.6M$290.8M$28.3M
Year two$412.8M$568.4M$563.5M$574.1M$547.3M$225.0M
2022$2.8B$2.4B$2.2B$2.0B$1.5B$231.2M
2023$2.7B$412.7M$396.7M$353.9M$324.7M$489.1M
With an allowance$89.4M$97.2M$106.7M$118.9M$90.0K$4.8M
Total Loans, net$8.7B$8.1B$7.6B$6.6B$5.5B$4.5B
Thereafter—$10.2M$10.4M$11.6M—$10.7M
Finite-Lived Intangible Assets, Accumulated Amortization$11.0M$12.6M$14.3M$16.1M$16.5M$18.3M
2028—$5.4M$5.9M$6.1M—$6.1M
2030—$3.0M$3.5M$3.6M—$2.5M
Remainder of 2026—$4.6M$3.3M$2.0M—$5.4M
2027—$5.6M$6.0M$6.3M—$7.1M
2029—$4.4M$4.8M$5.1M—$3.9M
Indefinite- lived intangible impairment$48.0M$49.4M$51.8M$54.9M$54.7M$55.8M
Lease payable$17.8M$16.5M$8.8M$8.5M$8.6M$8.2M
Liabilities of consolidated VIEs$4.2M$23.8M$17.6M$2.5M$2.5M$3.3M
Committed Revolving Credit Facilities—$4.5B$5.4B$5.5B—$4.2B
Loans, net$3.5M$2.0M$1.3M$1.1M$737.0K$462.0K
Loans, held for sale, valuation allowance$97.6M$158.1M$212.7M$53.9M$67.6M$74.3M
2028—$100.0M$100.0M$100.0M—$380.0M
2029—$330.0M$380.0M$380.0M—$244.6M
2030—$245.3M$245.3M$244.6M—$0.0
2027—$699.0M$649.3M$649.3M—$100.0M
Remainder of 2026—$102.4M$0.0$0.0—$517.4M
Thereafter—$36.3M$36.3M$36.3M—$36.3M
Noncontrolling interests in subsidiaries$97.7M$99.6M$98.5M$100.5M$99.2M$100.8M
Mortgage-backed securities, fair value————$34.5M$31.6M
Mortgage Loans In Process Of Foreclosure Amount$8.4M$11.1M$14.6M$31.3M$17.9M$25.7M
PPP receivables$18.4M$14.9M$12.6M$10.6M$8.8M$6.8M
PPP loans————$208.0K$266.0K
Preferred equity investment————$79.9M$72.7M
Preferred Stock Liquidation Preference$25.0$25.0$25.0$25.0$25.0$25.0
Total REO, held for use$0.0——$261.7M$260.1M$258.5M
Depreciation and accumulated depreciation—$0.0————
Receivable from third party————$12.4M$12.4M
Repair and denial reserve$7.4M$8.2M$8.5M$9.0M$12.3M$12.7M
Thereafter—$47.3M$47.2M$50.3M—$42.1M
2026—$17.9M$11.7M$6.2M—$17.4M
2030—$12.6M$12.8M$13.8M—$12.8M
2027—$20.4M$20.6M$22.2M—$20.0M
2029—$14.5M$14.7M$15.7M—$14.6M
2028—$17.1M$17.3M$18.8M—$16.7M
Tax receivable$1.7M$7.7M$50.0M$60.2M$719.0K$16.7M
Preferred stock Series C, liquidation preference (in dollars per share)$25.00$25.00$25.00$25.00$25.00$25.00
Penalties and interest accrued on unrecognized tax benefits—$0.0$0.0$0.0—$0.0
Cash, cash equivalents, and restricted cash in assets of consolidated VIEs—$2.9M$2.8M$2.5M—$1.9M
Purchase Obligation—$668.8M$629.4M$565.9M—$501.7M
Remainder of Fiscal Year 2024—$102.4M$0.0$0.0—$517.4M
Remainder of Fiscal Year 2025—$4.6M$3.3M$2.0M—$5.4M

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Allowance for Credit Losses - Receivable (Current)$339.9M$239.2M$232.6M$169.1M$218.5M$235.7M
Cash and cash equivalents$182.8M$248.4M$222.5M$194.5M$249.5M$241.2M
Prepaid expenses and other$362.5M$399.7M$462.7M$472.5M$508.2M$466.4M
Derivative Assets - Fair Value$33.4M$27.1M$24.0M$21.8M$19.7M$19.0M
Derivative Assets - Net Reduction from Master Netting Arrangements$0.0$0.0$0.0$0.0$0.0$0.0
Derivative Collateral Right to Reclaim$0.0$0.0$0.0$0.0$0.0$0.0
Derivative assets$8.0M$6.9M$5.8M$5.3M$6.7M$4.1M
Impaired Financing Receivable with No Related Allowance - Unpaid Principal Balance$17.0M$50.7M$22.7M$17.8M$36.3M$22.0M
Financing Receivables$8.3B$7.7B$7.2B$6.3B$5.2B$4.2B
Loans and Lending Commitments$8.3B$7.7B$7.2B$6.3B$5.2B$4.2B
Loans held for sale$128.5M$81.8M$134.5M$143.8M$73.1M$87.2M
Net Cash Collateral Received - Derivative Instruments$0.0$0.0$0.0$0.0$0.0$0.0
Prepaid expenses and other current assets$362.5M$399.7M$462.7M$472.5M$508.2M$466.4M
Restricted cash$30.6M$39.6M$56.8M$44.5M$39.7M$38.9M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross loans$8.3B$7.7B$7.2B$6.3B$5.2B$4.2B
Loans 90+ Days Past Due$89.4M$97.2M$106.7M$118.9M$90.0K$4.8M
Purchased Credit Deteriorated Loans$8.3B$7.7B$7.2B$6.3B$5.2B$4.2B
Deferred tax assets$111.3M$111.3M$111.3M$111.3M$201.6M$201.6M
Equity method investments$161.6M$170.9M$169.4M$178.8M$161.4M$167.3M
Equity Method Investments - Fair Value$6.6M$6.4M$6.2M$6.0M$5.7M$5.5M
Available-for-sale securities————$34.5M$31.6M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)—$3.0M$3.5M$3.6M—$2.5M
Goodwill$49.5M$49.5M$49.5M$49.5M$49.5M$49.5M
Intangible Assets Gross (Excluding Goodwill)$48.0M$49.4M$51.8M$54.9M$54.7M$55.8M
Intangible assets, net—$33.3M$33.8M$34.7M—$35.8M
Mortgage servicing rights$128.4M$129.8M$124.3M$127.0M$126.3M$123.7M
Net Investment in Lease$7.4M$6.9M$3.7M$3.5M$3.4M$3.2M
Assets of consolidated VIEs$5.2B$3.7B$2.4B$2.2B$2.0B$960.9M
Deferred tax assets$111.3M$111.3M$111.3M$111.3M$201.6M$201.6M
Financing Receivable, Net Reported Amount Excluding Loans of Consolidated Variable Interest Entities$3.4B$4.4B$5.1B$4.4B$3.5B$3.4B
Intangible assets — net—$33.3M$33.8M$34.7M—$35.8M
Other intangible assets—net$37.0M$36.8M$37.6M$38.9M$38.2M$37.4M
Loans, held for sale (including $87,198 and $73,094 held at fair value and net of valuation allowance of $74,315 and $67,612)$241.6M$528.7M$632.8M$163.8M$585.8M$360.2M
Carrying Amount, MBS$31.0M$31.4M$32.3M$33.1M$34.5M$31.6M
Operating lease right-of-use assets$7.4M$6.9M$3.7M$3.5M$3.4M$3.2M
Other Assets$11.4M$11.3M$10.2M$13.2M$16.3M$19.5M
Operating Lease Right-of-Use Assets in Other Assets$7.4M$6.9M$3.7M$3.5M$3.4M$3.2M
Other non-current assets$193.4M$11.3M$10.2M$13.2M$16.3M$19.5M
Accumulated depreciation$11.0M$12.6M$14.3M$16.1M$16.5M$18.3M
Total assets$10.1B$10.0B$9.3B$8.3B$7.8B$6.3B

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contingent Consideration Liability (Non-Current)$573.0K$15.4M$15.2M$15.2M$18.7M$0.0
Debt Maturity - 2024—$102.4M$0.0$0.0—$517.4M
Debt Maturity - 2027—$330.0M$380.0M$380.0M—$244.6M
Debt - Unamortized Discount (Premium) and Issuance Costs, Net—$24.2M$23.8M$22.4M—$17.6M
Long-term debt—$1.5B$1.4B$1.4B—$1.3B
Due to third parties$1.4M$1.1M$9.8M$9.9M$3.1M$12.3M
Loan participations sold$95.6M$98.1M$101.9M$103.0M$56.6M$56.6M
Other Accounts Payable and Accrued Liabilities$33.8M$24.1M$20.8M$29.7M$31.8M$51.7M
Senior secured notes, net$437.8M$671.5M$720.9M$721.2M$722.7M$723.7M
Corporate debt, net$895.3M$817.2M$666.1M$666.6M$652.5M$537.0M
Other non-current liabilities$5.6M$5.2M$10.7M$5.2M$9.7M$4.2M
Other Secured Financings—$15.4M$15.2M$15.2M—$0.0
Lease intangible liabilities, net———$411.0K$404.0K$404.0K
Servicing Liability$13.6M$15.7M$23.4M$20.9M$19.4M$18.4M
Total Carrying Value of Debt—$1.5B$1.4B$1.4B—$1.3B
Total liabilities$8.2B$7.9B$7.4B$6.4B$20.1M$21.4M
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued—$0.0$0.0$0.0—$0.0