Short answer
Ellington Financial Inc. (EFC) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $494M (+18.9% year over year) and net income of $119M.
- Top risk flagged: Regulatory risk under Delaware General Corporation Law restricting cash dividends to "surplus" or current/preceding year net profits
FY2025 key financial metrics · XBRL
- Revenue
- $494M
- +18.9% YoY
- Net income
- $119M
- +0.8% YoY
- EPS (diluted)
- $1.19
- −12.5% YoY
- ROE
- 6.5%
- −1.0 pp YoY
- Operating cash flow
- −$925M
- −115.0% YoY
Source: XBRL data from the Ellington Financial Inc. (EFC) FY2025 10-K on SEC EDGAR. USD.
Ellington Financial Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Ellington focuses on risk management and oversight with integrated cybersecurity protocols safeguarding sensitive information
- Emphasis on cybersecurity: Detailed cross-functional cybersecurity governance, technical safeguards, incident response, third-party risk management, and employee training programs emphasized
- Strategic focus: Strengthened oversight by Board Audit Committee and frequent internal cybersecurity working groups enhancing proactive threat monitoring and response
- Employee count specific to Longbridge segment: approximately 500 as of December 31, 2025
- Noteworthy cybersecurity posture: No material cybersecurity incidents to date, with ongoing penetration testing, third-party audits, and continuous technology updates
Management Discussion & Analysis
- Revenue and investment income details not explicitly stated in provided text, no YoY figures available
- Investment Portfolio Segment and Longbridge Segment focus; no performance numbers given to identify best/worst segment
- Management outlook emphasizes opportunistic, flexible asset allocation and hedging to adapt to changing market conditions and maintain REIT status
Risk Factors
- Regulatory risk under Delaware General Corporation Law restricting cash dividends to "surplus" or current/preceding year net profits
- Macroeconomic exposure to dividend reductions impacting income-focused equity holders
- Operational vulnerability due to potential forfeiture or conversion timing of 61,911 OP LTIP Units granted Dec 17, 2025
- Competitive risk from S&P 500 outperformance with cumulative return $195.98 vs $167.05 for Ellington
- Financial risk from Board discretion to delay, convert, or revoke declared dividends affecting shareholder cash flow
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.