Ladder Capital CorpLadder Capital Corp
Ladder Capital Corp

Ladder Capital Corp

LADR
Real Estate·Mortgage Real Estate Investment Trusts (REITs)

Ladder Capital Corp. is a holding company, which engages in the provision of commercial real estate finance services. It operates through the following segments: Loans, Securities, Real Estate, and Corporate and Other. The Loans segment includes mortgage loan receivables held for investment, and mortgage loan receivables held for sale. The Securities segment consists of all the company's activities related to securities, as well as investments in commercial mortgage-backed securities, United States agency securities, corporate bonds, and equity securities. The Real Estate segment is involved in the net leased properties, office buildings, student housing portfolios, hotels, industrial buildings, shopping centers, and condominium units. The Corporate and Other segment includes cash and cash equivalents, senior unsecured notes, compensation and employee benefits, operating expenses, and unallocated items including any inter-segment eliminations necessary to reconcile to consolidated company totals. The company was founded by Pamela McCormack, Robert Perelman, and Brian Harris in October 2008 and is headquartered in New York, NY.

New York; U.S.A
Market cap
No dataNo data
Revenue
$92M−32.9% YoY
Net income
$63.7M−40.7% YoY
Free cash flow
$78.7M−38.3% YoY

Market

Listed stock
LADRPriceNYSE
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Financial performance

Revenue
$92M−32.9% YoY
Operating income
$72.4M−30.2% YoY
Net income
$63.7M−40.7% YoY
Free cash flow
$78.7M−38.3% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $-6.9M, 2022 $97.9M, 2023 $162.2M, 2024 $137.1M, 2025 $92M. Operating income: 2021 $-33.2M, 2022 $62.8M, 2023 $117.6M, 2024 $103.7M, 2025 $72.4M. Net income: 2021 $56.9M, 2022 $165.3M, 2023 $100.5M, 2024 $107.4M, 2025 $63.7M. Free cash flow: 2021 $74.9M, 2022 $99.8M, 2023 $176.2M, 2024 $127.4M, 2025 $78.7M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-32.9%−1743 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-33.2M, 2022-12-31 $62.8M, 2023-12-31 $117.6M, 2024-12-31 $103.7M, 2025-12-31 $72.4M. Net income: 2021-12-31 $56.9M, 2022-12-31 $165.3M, 2023-12-31 $100.5M, 2024-12-31 $107.4M, 2025-12-31 $63.7M. Free cash flow: 2021-12-31 $74.9M, 2022-12-31 $99.8M, 2023-12-31 $176.2M, 2024-12-31 $127.4M, 2025-12-31 $78.7M

Growth heatmap

2022202320242025CAGR
Revenue
+1529.5%
+65.6%
-15.5%
-32.9%
No data
Gross profit
+636.7%
+64.1%
-10.3%
-25.3%
No data
Operating income
+289.0%
+87.2%
-11.8%
-30.2%
No data
Free cash flow
+33.3%
+76.7%
-27.7%
-38.3%
+1.2%

Earnings quality

Operating cash flow
$87M−35.0% YoY
Net income
$63.7M−40.7% YoY
Free cash flow
$78.7M−38.3% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 137%, 2024-12-31 125%, 2023-12-31 180%, 2022-12-31 65%, 2021-12-31 140%. Free cash flow: 2025-12-31 124%, 2024-12-31 119%, 2023-12-31 175%, 2022-12-31 60%, 2021-12-31 132%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
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Net debt
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Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
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Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
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No data
Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
No data
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