Ready Capital Corp (RCPE) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
1251 AVENUE OF THE AMERICAS NEW YORK, NY 10020 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 138,532 | 163,041 | 229,531 | 138,975 | 67,928 | 54,406 | |||
| Cash and cash equivalent | 138,532 | 163,041 | 229,531 | 138,975 | 67,928 | 54,406 | |||
| Disposal group, including discontinued operation | 16,472 | ||||||||
| Total current assets: | 155,004 | 163,041 | 229,531 | 138,975 | 67,928 | 54,406 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 2,539 | 1,687 | 2,402 | 3,172 | 4,531 | ✕ | |||
| Long-term investments and receivables | 133,321 | 118,641 | 141,148 | 79,509 | 58,850 | 33,438 | |||
| Long-term investments | 133,321 | 118,641 | 141,148 | 79,509 | 58,850 | 33,438 | |||
| Intangible assets, net (including goodwill) | 56,279 | 54,126 | 46,312 | 18,192 | 19,515 | 2,915 | |||
| Goodwill | 38,530 | 37,818 | 31,470 | 11,206 | 11,206 | ||||
| Intangible assets, net (excluding goodwill) | 17,749 | 16,308 | 14,842 | 6,986 | 8,309 | 2,915 | |||
| Deferred income tax assets | 977 | 3,601 | ✕ | ||||||
| Total noncurrent assets: | 192,139 | 175,431 | 193,463 | 100,873 | 82,896 | 36,353 | |||
| Other undisclosed assets | 12,094,074 | 11,282,505 | 9,111,037 | 5,132,247 | 4,826,194 | 2,946,084 | |||
| TOTAL ASSETS: | 12,441,217 | 11,620,977 | 9,534,031 | 5,372,095 | 4,977,018 | 3,036,843 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 33,961 | 38,245 | 42,715 | 35,724 | 21,146 | 18,718 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | 42,715 | 35,724 | 21,146 | 18,718 | ||
| Accrued liabilities | 33,961 | 38,245 | |||||||
| Disposal group, including discontinued operation | 13,999 | ||||||||
| Total current liabilities: | 47,960 | 38,245 | 42,715 | 35,724 | 21,146 | 18,718 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 32,977 | 30,885 | 11,986 | 16,839 | 18,757 | ||||
| Deferred income tax liabilities | 32,977 | 30,885 | 11,986 | 16,839 | 18,757 | ✕ | |||
| Total noncurrent liabilities: | 32,977 | 30,885 | 11,986 | 16,839 | 18,757 | ||||
| Other undisclosed liabilities | 9,713,518 | 9,653,252 | 8,190,371 | 4,485,324 | 4,092,331 | 2,454,050 | |||
| Total liabilities: | 9,794,455 | 9,722,382 | 8,245,072 | 4,537,887 | 4,132,234 | 2,472,768 | |||
| Temporary equity, including noncontrolling interest | 8,361 | 8,361 | 8,361 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 2,539,937 | 1,791,088 | 1,276,104 | 815,396 | 825,412 | 544,831 | |||
| Preferred stock | 111,378 | 111,378 | 111,378 | ||||||
| Common stock | 17 | 11 | 8 | 5 | 5 | 3 | |||
| Additional paid in capital | 2,321,989 | 1,684,074 | 1,161,853 | 849,541 | 822,837 | 540,478 | |||
| Accumulated other comprehensive loss | (17,860) | (9,369) | (5,733) | (9,947) | (6,176) | (922) | |||
| Retained earnings (accumulated deficit) | 124,413 | 4,994 | 8,598 | (24,203) | 8,746 | 5,272 | |||
| Equity, attributable to noncontrolling interest | 98,464 | 99,146 | 4,494 | 18,812 | 19,372 | 19,244 | |||
| Total equity: | 2,638,401 | 1,890,234 | 1,280,598 | 834,208 | 844,784 | 564,075 | |||
| TOTAL LIABILITIES AND EQUITY: | 12,441,217 | 11,620,977 | 9,534,031 | 5,372,095 | 4,977,018 | 3,036,843 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 65,008 | 38,344 | 169,919 | 230,850 | 301,865 | 234,606 | ||
| Gain (loss) on disposition of assets for financial service operations | (15,420) | 101,038 | 198,937 | 54,640 | 36,240 | |||
| Net investment income | 218,267 | 159,957 | ||||||
| Realized investment gains (losses) | 65,008 | 53,764 | 68,881 | 31,913 | 28,958 | 38,409 | ||
| Cost of revenue | (7,230) | (34,442) | (10,588) | (5,975) | (5,811) | (5,509) | ||
| Financing interest expense | ||||||||
| Provision for loan, lease, and other losses | (7,230) | (34,442) | ||||||
| Amortization of mortgage servicing rights (msrs) | (10,588) | (5,975) | (5,811) | (5,509) | ||||
| Gross profit: | 57,778 | 3,902 | 159,331 | 224,875 | 296,054 | 229,097 | ||
| Operating expenses | (152,904) | (149,464) | (135,352) | (115,303) | (76,006) | (60,610) | ||
| Other operating income, net (Noninterest Income, Other Operating Income) | 103,127 | 50,756 | 9,009 | 41,516 | 11,078 | 5,586 | ||
| Operating income (loss): | 8,001 | (94,806) | 32,988 | 151,088 | 231,126 | 174,073 | ||
| Nonoperating income (Investment Income, Nonoperating) | 207,972 | 30,728 | ||||||
| Interest and debt expense | (716,468) | (400,774) | (213,561) | (175,481) | (151,880) | (109,238) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 78,846 | (45,470) | (1,992) | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (500,495) | (495,580) | (180,573) | 54,453 | 64,504 | 62,843 | ||
| Income (loss) from equity method investments | (905) | 11,661 | 6,916 | |||||
| Other undisclosed income (loss) from continuing operations before income taxes | 859,819 | 716,815 | 362,714 | |||||
| Income (loss) from continuing operations before income taxes: | 358,419 | 232,896 | 189,057 | 54,453 | 64,504 | 62,843 | ||
| Income tax expense (benefit) | (7,174) | (29,733) | (29,083) | (8,384) | 10,552 | (1,386) | ||
| Income (loss) from continuing operations: | 351,245 | 203,163 | 159,974 | 46,069 | 75,056 | 61,457 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 159,974 | 46,069 | 75,056 | 61,457 | |
| Loss from discontinued operations | (2,834) | |||||||
| Net income (loss): | 348,411 | 203,163 | 159,974 | 46,069 | 75,056 | 61,457 | ||
| Net loss attributable to noncontrolling interest | (8,960) | (8,900) | (2,230) | (1,199) | (2,088) | (2,199) | ||
| Net income (loss) attributable to parent: | 339,451 | 194,263 | 157,744 | 44,870 | 72,968 | 59,258 | ||
| Preferred stock dividends and other adjustments | (7,997) | (7,996) | (7,503) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | (1,392) | (653) | (217) | |||||
| Net income (loss) available to common stockholders, diluted: | 331,454 | 186,267 | 150,241 | 43,478 | 72,315 | 59,041 | ||
Comprehensive Income ($ in thousands)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 348,411 | 203,163 | 159,974 | 46,069 | 75,056 | 61,457 | ||
| Other comprehensive income (loss) | (8,559) | (3,749) | 4,486 | (3,852) | (5,435) | (954) | ||
| Comprehensive income (loss): | 339,852 | 199,414 | 164,460 | 42,217 | 69,621 | 60,503 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (8,909) | (8,915) | (2,313) | (1,118) | (1,907) | (2,167) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 330,943 | 190,499 | 162,147 | 41,099 | 67,714 | 58,336 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.