Ladder Capital Corp LADR

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Ladder Capital is an investment grade-rated, internally-managed real estate investment trust ("REIT") that is a leader in commercial real estate finance. We originate and invest in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) owning and operating commercial real estate, including net leased commercial properties; and (iii) investing in investment grade securities secured by first mortgage loans on commercial real estate. We believe that our in-house origination platform, ability to flexibly allocate capital among complementary product lines, credit-centric underwriting approach, access to diversified financing sources, and experienced management team position us well to deliver attractive returns on equity to our shareholders through economic and credit cycles.

Last close 9.31 2026-10-23
Market cap $1.16B estimated share count
52-week range 8.48 - 11.48

Valuation FY2025 figures against the last close

P/S4.4x
P/E18.3x
P/FCF14.8x
EV/EBITDA—
Dividend yield—
Diluted EPS0.51

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $266.9M$358.6M$407.3M$293.5M$176.1M$239.8M$330.2M$344.8M$263.7M$236.4M
Total operating expenses $19.4M$19.2M$19.5M$20.7M$17.7M$20.3M$22.6M$21.7M$21.4M$20.6M
Interest expense $92.0M$137.1M$162.2M$97.9M$182.9M$227.5M$204.4M$194.3M$146.1M$120.8M
Pre-tax income $67.2M$110.9M$104.7M$170.2M$57.8M-$19.2M$139.6M$228.3M$133.6M$120.0M
Income tax $3.5M$3.4M$4.2M$4.9M$928.0K$9.8M$2.6M$6.6M$7.7M$6.3M
Net income $63.7M$107.4M$100.5M$165.3M$56.9M-$9.5M$137.0M$221.7M$125.9M$113.7M
EPS, basic 0.510.860.811.140.46-0.131.161.851.161.08
EPS, diluted 0.510.860.811.130.45-0.131.151.841.131.06
Shares, diluted (wtd. avg.) —125.8M124.9M125.8M124.6M112.4M106.4M97.7M109.7M107.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $38.0M$1.32B$1.02B$659.6M$621.5M$1.28B$355.7M$98.5M$182.7M$89.4M
Other intangibles $51.9M$50.6M$61.0M$65.0M$79.1M$91.2M$98.4M$104.3M$128.6M$106.6M
Total assets $5.15B$4.85B$5.51B$5.95B$5.85B$5.88B$6.67B$6.27B$6.03B$5.58B
Total liabilities $3.67B$3.31B$3.98B$4.42B$4.34B$4.33B$5.03B$4.63B$4.54B$4.07B
Retained earnings -$260.1M-$206.9M-$197.9M-$177.0M-$207.8M-$163.7M-$35.7M$11.3M-$39.1M-$11.1M
Total equity $1.48B$1.54B$1.53B$1.53B$1.51B$1.55B$1.64B$1.64B$1.49B$1.51B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $87.0M$133.9M$180.6M$106.7M$79.7M$111.9M$183.2M$200.4M$12.0M$338.4M
Depreciation and amortisation $32.0M$32.3M$29.9M$32.7M$37.8M$39.1M$38.5M$400.0K$40.3M$39.4M
Stock-based compensation $20.3M$18.8M$18.6M$31.6M$15.3M$42.7M$21.8M$8.8M$19.0M$17.6M
Capital expenditure $8.3M$6.5M$4.4M$6.9M$4.9M$6.1M$7.6M$7.8M$5.6M$10.6M
Investing cash flow -$1.61B$932.8M$793.5M$81.6M-$651.5M$1.54B-$126.6M-$342.9M-$306.6M$36.3M
Financing cash flow $227.0M-$796.6M-$557.8M-$150.2M-$91.0M-$725.7M$200.7M$58.2M$387.9M-$448.1M
Buybacks $11.8M$6.5M$2.5M$7.9M$9.0M$3.0M$637.0K$0$2.6M$4.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001577670-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2016: 236.4M Net income, FY2016: 113.7M Revenue, FY2017: 263.7M Net income, FY2017: 125.9M Revenue, FY2018: 344.8M Net income, FY2018: 221.7M Revenue, FY2019: 330.2M Net income, FY2019: 137M Revenue, FY2020: 239.8M Net income, FY2020: -9.5M Revenue, FY2021: 176.1M Net income, FY2021: 56.9M Revenue, FY2022: 293.5M Net income, FY2022: 165.3M Revenue, FY2023: 407.3M Net income, FY2023: 100.5M Revenue, FY2024: 358.6M Net income, FY2024: 107.4M Revenue, FY2025: 266.9M Net income, FY2025: 63.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $236.4M $263.7M $344.8M $330.2M $239.8M $176.1M $293.5M $407.3M $358.6M $266.9M
Gross profit — — — — — — — — — —
Net income $113.7M $125.9M $221.7M $137.0M -$9.5M $56.9M $165.3M $100.5M $107.4M $63.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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