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Ellington Financial Inc. (EFC.PD) stock analysis

EFC.PDNYSEReal EstateFiscal year ends December 31Also trades as EFC, EFC.PB, EFC.PC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026Score 15/3042% below fair value
$21.85−0.10 (-0.46%)

Close on Oct 30, 2026Market cap $2.82BP/E 13.4Yield 7139.58%

StockData Score

Prices as of Oct 30, 2026How the score works

Value5Growth3Performance4Health0Dividend3

Solid15 of 30 checks passed

Ellington Financial passes 15 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
5/6
Growth
3/6
Past performance
4/6
Financial health
0/6
Dividend
3/6

What stands out

  • Margin of safety over 20%

    The price is 42.5% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $11.41 is below our fair value estimate of $19.84.

  • Earnings grew over 5 years

    Net income grew 47.1% a year on average over the last five fiscal years.

  • Revenue growing 10%+ a year

    Revenue grew 77.7% a year over the last three fiscal years.

What to watch

  • Return on equity under 15%

    Return on equity was 10.7% over the last twelve months and averaged 4.8% over five years; we look for 15% on both.

  • Elevated bankruptcy risk

    The Altman Z-score is 0.04; above 3 is the safe zone and below 1.8 the distress zone.

  • Not covered by earnings

    Dividends take 106% of net income, leaving little room.

  • Dividend was cut

    The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

Valuation5/6

  • P/E below its 5-year median

    Ellington Financial's P/E of 7.0 is below its own 5-year median of 9.8.

  • P/E below the industry

    Ellington Financial's P/E of 7.0 is below the Real estate median of 17.1.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B below the industry

    Ellington Financial's price-to-book of 0.75 is below the Real estate median of 0.81.

  • Trading below fair value

    The share price of $11.41 is below our fair value estimate of $19.84.

  • Margin of safety over 20%

    The price is 42.5% below fair value, more than the 20% cushion we look for.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 77.7% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth accelerating

    Net income grew 71.5% over the last twelve months, against a 5-year average of 47.1% a year.

  • Growing faster than the industry

    Revenue grew 44.8% over the last twelve months; the Real estate median is 5.3%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin trend

    This company does not report gross profit.

Past performance4/6

  • Return on equity under 15%

    Return on equity was 10.7% over the last twelve months and averaged 4.8% over five years; we look for 15% on both.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity above the industry

    Ellington Financial's return on equity of 10.7% is above the Real estate median of 1.4%.

  • Earnings grew over 5 years

    Net income grew 47.1% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 42.6% over the last twelve months, against a 5-year average of 7.3%.

  • Net margin above the industry

    Ellington Financial's net margin of 42.6% is above the Real estate median of 6.4%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term liquidity

    The balance sheet is not split into current and non-current items.

  • Elevated bankruptcy risk

    The Altman Z-score is 0.04; above 3 is the safe zone and below 1.8 the distress zone.

Dividend3/6

  • Pays a dividend

    Ellington Financial paid dividends worth 13.7% of the share price over the last twelve months.

  • Yield above Treasuries

    The 13.7% yield is above the 4.4% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 4.0% or more; Ellington Financial yields 13.7%.

  • Dividend was cut

    The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

  • Not covered by earnings

    Dividends take 106% of net income, leaving little room.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$19.84

The share price is 42% below this estimate.

20%+ below
Near fair value
20%+ above
$11.41Price$19.84Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E13.4×9.8×17.1×$21.8880%
P/B0.8×0.7×0.8×$11.6920%
Fair value$19.84100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 9.8
  • Real estate median 17.1

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$21.26M
Value traded per 1% price move
$21.19M

Downside

Low risk

Typical loss in a bad month
11.9%
Volatility (annualized)
19%
Sharpe ratio, 1 year
-1.00
Beta to the S&P 500 (5Y)
0.80

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Net margin

35.3%−1.7 pts over 5 years