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Starwood Property Trust logo

Starwood Property Trust Income Statement

Revenue, expenses, and profitability over time

Starwood Property Trust generated $1.9B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $351.2M with a 18.11% net margin. Diluted EPS is $0.96, which grew 0.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$1.9BNet Income (TTM)$351.2MEps Diluted (TTM)$0.96
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$6.3B
P/E Ratio18.03
ROE5.37%

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Foreign Currency Transaction Gain (Loss)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Unrealized Foreign Currency Transaction Gain (Loss)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Foreign Currency Transaction Gain (Loss)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Foreign exchange gains (losses)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Income from equity method investments$3.4M$537K$7.9M$2.5M$3.7M$818K
Net Interest and Investment Income (Loss)$25.5M—————
Foreign Currency Transaction Gain (Loss), Pre-tax-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Other Charges-$2M-$1.3M$1.6M-$3.5M-$29.8M-$3.1M
Net Gain (Loss) on Derivative Instruments$139M-$39.7M-$101.3M$5.8M$0-$2.5M
Foreign Currency Transaction Gain (Loss)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Interest expense$310.5M$292.2M$316.1M$334.8M$333.8M$328.9M
Interest income$25.5M—————
Net investment gains (losses)$139M-$39.7M-$101.3M$5.8M$0-$2.5M
Investment income, net$25.5M—————
Foreign currency transaction gain (loss)-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Foreign Currency Transaction Gain (Loss), Before Tax-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Change in fair value of servicing rights$2.2M$753K$2.4M$2M$758K-$537K
Change in fair value of mortgage loans, net—$58.4M$29.9M$52.4M$43.8M-$12.7M
Gain on sale of investments and other assets, net$432K$0$31.7M$1M$10.2M$679K
Other income (expense), net$93.3M$85.9M$121.6M$93.8M$120.8M$21.3M
Variable Interest Entity, Measure of Activity, Income or Loss before Tax$31.9M$28.7M$40.3M$43.7M$42.1M$32.5M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Operating Expense, Net-$589K-$1.9M-$1.9M-$439K-$166K-$401K
Depreciation and amortization$11.2M$11.5M$10.4M$26M$31.1M$33.7M
General and administrative$49.4M$48.1M$51.1M$51.5M$58.1M$58.3M
Other operating income (expense), net-$589K-$1.9M-$1.9M-$439K-$166K-$401K
Management fees$41.2M$40.8M$30.8M$32.2M$33.4M$36.2M
Credit loss reversal, net$52.4M-$25M$5.7M$28.4M$10.3M-$377K
Other operating expenses-$589K-$1.9M-$1.9M-$439K-$166K-$401K
Total operating expenses$479M$384.2M$430.5M$489.4M$482.4M$480.3M
Lease Costs$13.7M$14.8M$14.5M$16M$15.5M$23.1M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Operating Income-$589K-$1.9M-$1.9M-$439K-$166K-$401K
Other operating income (expense), net-$589K-$1.9M-$1.9M-$439K-$166K-$401K

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other operating income$6.3M$5.4M$6.4M$5.3M$5.2M$5.2M
Rental income$27.7M$29.2M$28.2M$57.5M$67.5M$80M
Total revenue$454.4M$418.2M$444.3M$488.9M$492.9M$512.5M
Mortgage Banking Income$17.7M$17.5M$14.1M$23.2M$31.8M$48M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.14$0.33$0.38$0.19$0.26$0.13
Diluted earnings per share$0.14$0.33$0.38$0.19$0.26$0.13

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$68.7M$119.9M$135.4M$93.3M$131.3M$53.5M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$0$3.8M$671K$13.3M$18.9M-$3.9M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$51.6M$112.3M$129.8M$72.6M$96.9M$51.9M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (Loss), Foreign Currency Transaction, before Tax-$98.4M$34.8M$83.8M-$12.2M$6.6M-$6.1M
Interest income from loans$388.4M$353.9M$385.2M$395.4M$383.9M$373.8M
Interest Income Securities Mortgage Backed$14.4M$12.2M$10.3M$7.4M$4.6M$5.4M
Net interest and investment income (loss)$25.5M—————
Lease income — operating leases$27.7M$29.2M$28.2M$57.5M$67.5M$80M
Other income, net (Note 6)-$2M-$1.3M$1.6M-$3.5M-$29.8M-$3.1M
Other income, net-$589K-$1.9M-$1.9M-$439K-$166K-$401K