Ellington Credit Co - Understand $earn stock

$EARN Market Cap: $161.3 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$36.40M

TTM

Gross Margin

1.01%

TTM

Net Earnings

$21.03M

TTM

Current Assets

Current Liabilities

Current Ratio

Total Assets

$752.3M

Q3 2024

Total Liabilities

$560.7M

Q3 2024

Book Value

$191.6M

Q3 2024

Cash

$25.75M

Q3 2024

P/E

7.672

Nov 13, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	$42.55M	$35.01M	$28.36M	$27.32M	$43.85M	$54.55M	$49.19M	$33.50M	$40.75M	$46.82M	$27.87M	$240.0K
YoY Change	21.55%	23.42%	3.82%	-37.7%	-19.62%	10.9%	46.84%	-17.79%	-12.96%	67.99%	11512.5%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	$42.55M	$35.01M	$28.36M	$27.32M	$43.85M	$54.55M	$49.19M	$33.50M	$40.75M	$46.82M	$27.87M	$240.0K
Cost Of Revenue	$48.93M	$18.11M	$6.784M	$14.17M	$38.96M	$36.49M	$23.24M	$12.67M	$9.740M	$7.780M	$5.750M	$250.0K
Gross Profit	-$6.378M	$16.89M	$21.58M	$13.15M	$4.880M	$18.07M	$25.95M	$20.83M	$31.02M	$39.04M	$22.12M	-$10.00K
Gross Profit Margin	-14.99%	48.26%	76.08%	48.13%	11.13%	33.13%	52.75%	62.18%	76.12%	83.38%	79.37%	-4.17%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Selling, General & Admin	$382.0K	$401.0K	$377.0K	$320.0K	$300.0K	$300.0K	$300.0K			$0.00		$590.0K
YoY Change	-4.74%	6.37%	17.81%	6.67%	0.0%	0.0%
% of Gross Profit		2.37%	1.75%	2.43%	6.15%	1.66%	1.16%			0.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$5.535M	$5.128M	$5.752M	$5.826M	$5.288M	$5.508M	$5.702M	$5.009M	$5.145M	$5.752M	$4.326M	$610.0K
YoY Change	7.94%	-10.85%	-1.27%	10.17%	-3.99%	-3.4%	13.84%	-2.64%	-10.55%	32.96%	609.18%
Operating Profit	-$11.91M	$11.77M	$15.83M	$7.324M	-$408.0K	$12.56M	$20.25M	$15.82M	$25.88M	$33.29M	$17.79M	-$620.0K
YoY Change	-201.25%	-25.66%	116.11%	-1895.1%	-103.25%	-37.96%	27.98%	-38.86%	-22.27%	87.07%	-2970.0%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Interest Expense	$45.26M	-$45.26M	-$26.20M	$8.580M	$18.97M	-$27.82M	-$13.65M	-$7.310M	-$29.34M	-$20.39M	-$22.40M	$90.00K
YoY Change	-200.0%	72.75%	-405.34%	-54.77%	-168.19%	103.81%	86.73%	-75.09%	43.89%	-8.97%	-24988.89%
% of Operating Profit		-384.63%	-165.52%	117.15%		-221.46%	-67.41%	-46.2%	-113.39%	-61.25%	-125.89%
Other Income/Expense, Net	$1.482M	$1.435M	$1.314M	$1.297M	$1.305M	$1.243M	$1.208M	$1.252M	$1.238M	$1.803M	$1.235M
YoY Change	3.28%	9.21%	1.31%	-0.61%	4.99%	2.9%	-3.51%	1.13%	-31.34%	45.99%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Pretax Income	$4.559M	-$30.20M	-$6.309M	$20.11M	$22.26M	-$11.30M	$10.79M	$11.91M	$30.00K	$16.17M	-$1.910M	-$540.0K
YoY Change	-115.1%	378.65%	-131.37%	-9.66%	-296.99%	-204.73%	-9.4%	39600.0%	-99.81%	-946.6%	253.7%
Income Tax											$0.00	$0.00
% Of Pretax Income
Net Earnings	$4.559M	-$30.20M	-$6.309M	$20.11M	$22.26M	-$11.30M	$10.79M	$11.91M	$30.00K	$16.17M	-$1.914M	-$540.0K
YoY Change	-115.1%	378.65%	-131.37%	-9.63%	-297.04%	-204.7%	-9.39%	39586.67%	-99.81%	-944.72%	254.44%
Net Earnings / Revenue	10.71%	-86.27%	-22.24%	73.62%	50.75%	-20.71%	21.93%	35.54%	0.07%	34.53%	-6.87%	-225.0%
Basic Earnings Per Share	$0.31	-$2.29	-$0.50	$1.63	$1.79	-$0.88	$0.93	$1.31	$0.00	$1.77	-$0.29
Diluted Earnings Per Share	$0.31	-$2.29	-$497.4K	$1.628M	$1.787M	-$882.1K	$930.2K	$1.306M	$3.282K	$1.769M	-$290.7K	-$331.3K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Cash & Short-Term Investments	$38.53M	$34.82M	$69.03M	$58.20M	$35.40M	$18.60M	$56.10M	$33.50M	$40.20M	$45.20M	$50.10M	$18.20M
YoY Change	10.68%	-49.56%	18.6%	64.41%	90.32%	-66.84%	67.46%	-16.67%	-11.06%	-9.78%	175.27%
Cash & Equivalents	$38.53M	$34.82M	$69.03M	$58.20M	$35.40M	$18.60M	$56.10M	$33.50M	$40.20M	$45.20M	$50.10M	$18.20M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$51.13M	$33.45M		$0.00	$5.500M	$74.20M	$21.60M	$33.20M	$155.5M	$41.80M	$76.70M
Other Receivables	$7.767M	$22.15M		$51.90M	$39.60M	$29.70M	$32.50M	$54.20M	$37.60M	$23.40M	$23.10M
Total Short-Term Assets	$97.43M	$90.42M	$162.2M	$110.1M	$80.50M	$122.5M	$110.2M	$120.9M	$233.3M	$110.4M	$149.9M	$18.20M
YoY Change	7.76%	-44.25%	47.32%	36.77%	-34.29%	11.16%	-8.85%	-48.18%	111.32%	-26.35%	723.63%
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$773.5M	$893.5M	$1.312B	$1.082B	$1.402B	$1.540B	$1.686B	$1.227B	$1.242B	$1.393B	$1.326B	$13.60M
YoY Change	-13.43%	-31.88%	21.26%	-22.83%	-8.99%	-8.64%	37.41%	-1.23%	-10.84%	5.08%	9650.0%
Other Assets
YoY Change
Total Long-Term Assets	$848.3M	$963.2M	$1.436B	$1.085B	$1.409B	$1.553B	$1.777B	$1.308B	$1.323B	$1.411B	$1.361B	$14.00M
YoY Change	-11.93%	-32.94%	32.41%	-22.99%	-9.3%	-12.59%	35.83%	-1.15%	-6.19%	3.64%	9622.86%
Total Assets	$945.7M	$1.054B	$1.598B	$1.195B	$1.489B	$1.676B	$1.887B	$1.429B	$1.557B	$1.521B	$1.511B	$32.20M
YoY Change
Accounts Payable	$12.14M	$42.20M	$255.1M	$0.00	$19.40M	$11.30M	$3.800M	$5.500M	$98.90M	$4.200M	$2.800M
YoY Change	-71.23%	-83.46%		-100.0%	71.68%	197.37%	-30.91%	-94.44%	2254.76%	50.0%
Accrued Expenses	$3.964M	$5.793M	$2.121M	$1.400M	$4.300M	$5.800M	$4.000M	$2.600M	$1.900M	$1.600M	$1.800M	$1.100M
YoY Change	-31.57%	173.13%	51.5%	-67.44%	-25.86%	45.0%	53.85%	36.84%	18.75%	-11.11%	63.64%
Deferred Revenue
YoY Change
Short-Term Debt	$729.5M	$843.0M	$1.182B	$1.015B	$1.296B	$1.482B	$1.597B	$1.198B	$1.223B	$1.323B	$1.310B	$0.00
YoY Change	-13.45%	-28.69%	16.43%	-21.68%	-12.51%	-7.24%	33.32%	-2.02%	-7.59%	0.98%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$802.1M	$938.1M	$1.443B	$1.022B	$1.326B	$1.505B	$1.692B	$1.286B	$1.407B	$1.349B	$1.343B	$1.200M
YoY Change	-14.5%	-35.0%	41.25%	-22.96%	-11.89%	-11.06%	31.65%	-8.64%	4.3%	0.45%	111808.33%
Long-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$7.329M	$3.119M	$1.103M	$6.600M	$2.000M	$16.60M	$1.900M	$2.000M	$4.700M	$8.700M	$1.100M
YoY Change	134.98%	182.77%	-83.29%	230.0%	-87.95%	773.68%	-5.0%	-57.45%	-45.98%	690.91%
Total Long-Term Liabilities	$7.329M	$3.119M	$1.103M	$6.600M	$2.000M	$16.60M	$1.900M	$2.000M	$4.700M	$8.700M	$1.100M	$0.00
YoY Change	134.98%	182.77%	-83.29%	230.0%	-87.95%	773.68%	-5.0%	-57.45%	-45.98%	690.91%
Total Liabilities	$809.5M	$941.2M	$1.444B	$1.028B	$1.328B	$1.522B	$1.694B	$1.288B	$1.412B	$1.358B	$1.344B	$1.200M
YoY Change	-14.0%	-34.83%	40.44%	-22.58%	-12.71%	-10.19%	31.6%	-8.8%	3.98%	1.03%	111891.67%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Basic Shares Outstanding	14.88M shares	13.16M shares	12.68M shares	12.35M shares	12.46M shares	12.81M shares	11.60M shares	9.121M shares	9.144M shares	9.143M shares	6.567M shares
Diluted Shares Outstanding
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $161.33 Million

About Ellington Credit Co

Ellington Residential Mortgage REIT is a real estate investment trust, which engages in the acquisition, investment, and management of residential mortgage and real estate-related assets. The company is headquartered in Old Greenwich, Connecticut and currently employs 170 full-time employees. The company went IPO on 2013-01-05. The firm is focused on acquiring, investing in, and managing secondary collateralized loan obligations (CLO) mezzanine debt and equity tranches. The Company’s primary objective is to generate attractive risk-adjusted total returns for its shareholders by making investments in multiple parts of the CLO capital structure, including mezzanine debt and equity tranches. The firm select investments for their ability to provide a total return to drive a sustainable earnings stream and book value growth over a long-term horizon, rather than focusing just on current yield. The firm also takes a trading-oriented approach, which seeks to take advantage of pricing inefficiencies in the CLO market, as opposed to simply buy-and-hold. The company is externally managed and advised by Ellington Credit Company Management LLC.

Industry: Real Estate Investment Trusts Peers: Acres Commercial Realty Corp AG Mortgage Investment Trust Inc Annaly Capital Management Inc Arlington Asset Investment Corp. Cherry Hill Mortgage Investment Corp Manhattan Bridge Capital Inc Lument Finance Trust Inc Sachem Capital Corp. Western Asset Mortgage Capital Corp