LADR Real Estate

Ladder Capital Corp

$9.11-1.83%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Real Estate
Industry: REIT - Mortgage
Country: United States
Market cap: 1.2B USD
Enterprise value: 5.1B USD
Full-time employees: 60

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.00 vs a peer median of 0.75) and more debt relative to equity (2.81× vs a peer median of 0.80×)higher risk: bigger price swings (beta 1.00 vs peers 0.75) and more debt vs equity (2.81× vs peers 0.80×)

Ranks #591 of 632 real estate companies (bottom 7%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $58M vs $21M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Ladder Capital recorded $58M of stock-based pay expense and spent $21M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Ladder Capital recorded $58M of stock-based pay expense and spent $21M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Much more borrowing than peers. Debt is 2.8× equity vs a peer median of 0.8×.Debt is 2.8× equity vs peers 0.8×.
Debt is 2.8× shareholders' equity, against a peer median of 0.8×, among the highest 10% of its peer group.Debt is 2.8× shareholders' equity, vs peers 0.8×, among the highest 10% of its peer group.
Valuation signals disagree. Cheaper than 65% of peers on free cash flow, but only 24% on operating cash profit (EBITDA).Cheaper than 65% of peers on free cash flow, but only 24% on operating cash profit.
Relative to its free cash flow, Ladder Capital looks cheaper than 65% of peers; relative to its operating cash profit (EBITDA), cheaper than only 24%. The valuation score blends the two, so look at which measure fits this business best.Relative to its free cash flow, Ladder Capital looks cheaper than 65% of peers; relative to its operating cash profit, cheaper than only 24%. The valuation score blends the two, so look at which measure fits this business best.
Revenue is falling. Revenue fell 23% in the 12 months to June 2026 vs the 12 months before.
Ladder Capital's revenue fell 23% in the 12 months to June 2026 vs the 12 months before.

StockQuotient Score

21/ 100

Oct 5 21 → Nov 4 21

Valuation

Is the price right?

26/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.16Sector median: 0.0535 · MAD: 0.0484

EBITDA yield3.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.05Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield8.9%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 0.54Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield125.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

14/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ EPS growth
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-39.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.65Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth-14.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported value33% base weight · Z-score -2.44Sector median: 0.0378 · MAD: 0.0744

Revenue growth-23.3%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Reported value33% base weight · Z-score -2.83Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

26/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.2683 · MAD: 0.2257

Return on assets0.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.88Sector median: 0.0211 · MAD: 0.0134

Return on invested capital1.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.77Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin69.2%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity3.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.00

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.78Sector median: 0.7490 · MAD: 0.3270

Current ratio3.08×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score 2.62Sector median: 1.1950 · MAD: 0.7210

Debt / equity2.81×

SEC filings · latest balance sheetReported value33% base weight · Z-score -5.16Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Ladder Capital

Is Ladder Capital getting weaker?: Its latest SEC filing (Jul 27, 2026) showed no major changes. Its overall score is unchanged at 21/100 since Oct 28, 2026.
How is Ladder Capital valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 26/100 against 762 real estate peers. Free cash flow yield 8.9% vs a peer median of 6.5% (stronger than 65% of peers).Free cash flow yield 8.9% vs peers 6.5% (stronger than 65% of peers). EBITDA yield 3.2% vs a peer median of 5.4% (weaker than 76% of peers).EBITDA yield 3.2% vs peers 5.4% (weaker than 76% of peers).
Is Ladder Capital growing?: More slowly than most of its peers. Growth scores 14/100 against 762 real estate peers. 3-year revenue growth -14.4% vs a peer median of 3.8% (weaker than 87% of peers).3-year revenue growth -14.4% vs peers 3.8% (weaker than 87% of peers).
How profitable is Ladder Capital?: Less profitable than most of its peers. Profitability scores 26/100 against 762 real estate peers. Return on assets 0.9% vs a peer median of 2.1% (weaker than 71% of peers).Return on assets 0.9% vs peers 2.1% (weaker than 71% of peers).
How risky is Ladder Capital?: Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 3.08× vs a peer median of 1.20× (stronger than 85% of peers).Current ratio 3.08× vs peers 1.20× (stronger than 85% of peers). Debt / equity 2.81× vs a peer median of 0.80× (weaker than 91% of peers).Debt / equity 2.81× vs peers 0.80× (weaker than 91% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 27, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Net income (12 months)	54.7M USD	52.2M USD	−4.7%
Debt	4.0B USD	4.0B USD	−0.6%
Cash	33.1M USD	37.6M USD	+13.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Mortgage companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	1.0%	2.8%	1.8%	2.2%	1.2%	▼ 1.0 pts
Return on equity (ROE)	3.8%	10.8%	6.6%	7.0%	4.3%	▼ 2.7 pts
Debt to equity	2.11×	2.09×	1.78×	1.66×	2.38×	▲ 43%
Interest coverage	-0.68×	0.59×	0.91×	0.83×	0.68×	▼ 18%

LADR price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.00 vs a peer median of 0.75) and more debt relative to equity (2.81× vs a peer median of 0.80×)higher risk: bigger price swings (beta 1.00 vs peers 0.75) and more debt vs equity (2.81× vs peers 0.80×)

Ranks #591 of 632 real estate companies (bottom 7%)

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $58M vs $21M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Ladder Capital recorded $58M of stock-based pay expense and spent $21M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Ladder Capital recorded $58M of stock-based pay expense and spent $21M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Much more borrowing than peers. Debt is 2.8× equity vs a peer median of 0.8×.Debt is 2.8× equity vs peers 0.8×.

Debt is 2.8× shareholders' equity, against a peer median of 0.8×, among the highest 10% of its peer group.Debt is 2.8× shareholders' equity, vs peers 0.8×, among the highest 10% of its peer group.

Valuation signals disagree. Cheaper than 65% of peers on free cash flow, but only 24% on operating cash profit (EBITDA).Cheaper than 65% of peers on free cash flow, but only 24% on operating cash profit.

Relative to its free cash flow, Ladder Capital looks cheaper than 65% of peers; relative to its operating cash profit (EBITDA), cheaper than only 24%. The valuation score blends the two, so look at which measure fits this business best.Relative to its free cash flow, Ladder Capital looks cheaper than 65% of peers; relative to its operating cash profit, cheaper than only 24%. The valuation score blends the two, so look at which measure fits this business best.

Revenue is falling. Revenue fell 23% in the 12 months to June 2026 vs the 12 months before.

Ladder Capital's revenue fell 23% in the 12 months to June 2026 vs the 12 months before.

Questions investors ask about Ladder Capital

Is Ladder Capital getting weaker?

Its latest SEC filing (Jul 27, 2026) showed no major changes. Its overall score is unchanged at 21/100 since Oct 28, 2026.

How is Ladder Capital valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 26/100 against 762 real estate peers. Free cash flow yield 8.9% vs a peer median of 6.5% (stronger than 65% of peers).Free cash flow yield 8.9% vs peers 6.5% (stronger than 65% of peers). EBITDA yield 3.2% vs a peer median of 5.4% (weaker than 76% of peers).EBITDA yield 3.2% vs peers 5.4% (weaker than 76% of peers).

Is Ladder Capital growing?

More slowly than most of its peers. Growth scores 14/100 against 762 real estate peers. 3-year revenue growth -14.4% vs a peer median of 3.8% (weaker than 87% of peers).3-year revenue growth -14.4% vs peers 3.8% (weaker than 87% of peers).

How profitable is Ladder Capital?

Less profitable than most of its peers. Profitability scores 26/100 against 762 real estate peers. Return on assets 0.9% vs a peer median of 2.1% (weaker than 71% of peers).Return on assets 0.9% vs peers 2.1% (weaker than 71% of peers).

How risky is Ladder Capital?

Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 3.08× vs a peer median of 1.20× (stronger than 85% of peers).Current ratio 3.08× vs peers 1.20× (stronger than 85% of peers). Debt / equity 2.81× vs a peer median of 0.80× (weaker than 91% of peers).Debt / equity 2.81× vs peers 0.80× (weaker than 91% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Net income (12 months)

54.7M USD

52.2M USD

−4.7%

Debt

4.0B USD

4.0B USD

−0.6%

Cash

33.1M USD

37.6M USD

+13.7%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

1.0%

2.8%

1.8%

2.2%

1.2%

▼ 1.0 pts

Return on equity (ROE)

3.8%

10.8%

6.6%

7.0%

4.3%

▼ 2.7 pts

Debt to equity

2.11×

2.09×

1.78×

1.66×

2.38×

▲ 43%

Interest coverage

-0.68×

0.59×

0.91×

0.83×

0.68×

▼ 18%