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Ellington Financial Inc. logo

Ellington Financial Inc. Income Statement

Revenue, expenses, and profitability over time

Ellington Financial Inc. generated $528.1M in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $182.6M with a 34.57% net margin. Based on the Q1 2026 filing.

Total Revenue (TTM)$528.1MNet Income (TTM)$182.6MEps Diluted (TTM)$-1.19
Latest FilingQ1 2026
Report Date2026-05-11
Market Cap$1.7B
P/E Ratio9.32
ROE10.33%

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other operating income$11.8M$24.3M$12.3M$2.6M$13.3M$4.5M
Net interest income$38.1M$43.3M$43.3M$49.7M$53.6M$61.3M
Total interest income$106.7M$115.9M$115.5M$122.8M$140.3M$149.5M
Total noninterest income$33.8M$39.7M$49.2M$33M$24.6M$110M
Total revenue$106.7M$115.9M$115.5M$122.8M$140.3M$149.5M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.24$0.35$0.45$0.29$0.11$0.78

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$398K-$96K$1.5M$1.1M$1.4M$966K

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$68.6M$72.7M$72.1M$73.1M$86.6M$88.2M
Other income (expense), net$11.8M$24.3M$12.3M$2.6M$13.3M$4.5M
Net change from HECM reverse mortgage loans, at fair value$126.3M$177M$168.8M$206M$156.5M$235M
Net change related to HMBS obligations, at fair value-$106.2M-$147.5M-$142.2M-$171M-$124.6M-$194.1M
Unrealized gains (losses) on real estate owned, net$1.2M-$3.3M-$1.4M$736K-$1.2M$1.3M
Realized gains (losses) on real estate owned, net-$1.9M-$934K-$1.4M-$3.4M-$2M-$3.1M
Realized gains (losses) on financial derivatives, net—$11.6M-$519K-$8.3M-$8.5M$19.2M
Realized gains (losses) on securities and loans, net$0-$8.8M$6.9M$9.3M$4.3M$14.7M
Realized Gains (Losses) on Unsecured Borrowings, at fair value, net$0-$1.4M$0$0$0$0
Unrealized gains (losses) on other secured borrowings, at fair value, net—-$31.4M-$25.8M-$21.1M-$14.4M$7M
Unrealized gains (losses) on securities and loans, net—$46.1M$59.8M$24.4M$3.7M-$19.6M
Unrealized gains (losses) on unsecured borrowings, at fair value, net-$3.8M$1M-$1.7M-$2.9M-$7.9M$21.2M
Debt Issuance and Commitment Costs$0$1.5M$1.5M$1.5M$1.5M—

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Incentive Fee Expense$0$4.5M$0$0$0$19.2M
Other expenses$6.9M$7.1M$7.7M$8.4M$7.9M$8.8M
Salaries And Wages$18.7M$16.9M$21.3M$21.7M$23.6M$21.8M
Other operating expenses$51.8M$52M$57.1M$57M$72.5M$80.4M
Professional fees$3.2M$3.7M$3.1M$2.9M$3.3M$3.6M
Total operating expenses$51.8M$52M$57.1M$57M$72.5M$80.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt issuance costs related to Other secured borrowings, at fair value$2.2M$0$2.3M$1.4M$6.5M$2.3M
Debt Issuance Costs Related to Unsecured Borrowings, at Fair Value$0$1.5M$1.5M$1.5M$1.5M—
Dividends on preferred shares$7.4M$7M$7M$7.1M$7M$5.9M
Interest Income (Expense), Operating$38.1M$43.3M$43.3M$49.7M$53.6M$61.3M
Interest Income Operating$106.7M$115.9M$115.5M$122.8M$140.3M$149.5M
Amount awarded—$0———$17M
Management fees$5.9M$6.1M$6.3M$6.2M$6.9M$7.1M
Other$8.5M$6.6M$9.1M$9.2M$11.1M$9.7M
Servicing expense$6.4M$7M$7.2M$7.2M$7.1M$7.8M
Preferred Stock Redemption Discount$83.8K$0———$4M
Preferred Stock Redemption Premium$83.8K—————

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Preferred stock dividends$7.4M$7M$7M$7.1M$7M$5.9M