Ladder Capital (LADR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ladder Capital

NYSE•Real Estate•REIT - Mortgage

$9.11-0.17(-0.02%)Pre-market

Market Cap

$1.13B

P/E

11.4x

P/S

10.0x

P/B

0.8x

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. It operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates and acquires balance sheet loans that provide interim financing to borrowers seeking short-term capital for the acquisition or transition of commercial real estate; originates conduit loans, which are first mortgage loans on commercial real estate properties for sale in commercial mortgage-backed securities securitizations; and invests in note purchase financings, subordinated debt, mezzanine debt, and other structured finance products related to commercial real estate. Its Securities segment invests in CMBS, U.S. Agency securities, corporate bonds, equity securities, and U.S. Treasury securities that are not classified as cash and cash equivalents. The Real Estate segment engages in net leased properties, other diversified real estate, and investments in unconsolidated ventures. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Ladder Capital Corp was founded in 2008 and is headquartered in New York, New York.

How this company scores

WeakMetricSide Score: 51/100

Grade capped at D — Interest coverage below 1× (-0.3x) — earnings cannot cover interest. Strongest: Growth (20/25); weakest: Balance Sheet & Red Flags (3/25).

Profitability10/25

Growth20/25

Balance Sheet & Red Flags3/25

Cash & Earnings Quality18/25

Strengths

Rising earningsProfit converts from growthNo share dilution

Grade capped at D

Interest coverage below 1× (-0.3x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 11.4x5y range 6.8x – 26.0x

Currently near its 20-quarter median.

P/S · 10.0x5y range 9.6x – 14.6x

Currently near its 20-quarter median.

P/B · 0.8x5y range 0.7x – 1.0x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

D/E ratio of 3.0 is elevated and rising. Watch for further debt accumulation.

Revenue Decline

Watch

Revenue has softened, declining in 4 quarters. Watch for further erosion.

Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $1.13B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $112.79M
Q. Revenue: $30.66M
TTM EBITDA: $-29.09M
TTM Op. Income: $-63.78M
Q. Op. Income: $-20.90M
TTM Net Income: $98.91M
Q. Net Income: $65.89M
EPS: $0.53
Shares Out.: $124.10M

$112.79M in TTM revenue grew 10.0% YoY, reaching $30.66M last quarter. TTM EBITDA of $-29.09M and TTM operating income of $-63.78M show growth is flowing through to the bottom line. TTM net income of $98.91M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -41.9%
Op. Margin: -68.2%
Net Margin: 214.9%

Op. margin of -68.2% is down 33.9% YoY — costs are rising relative to revenue. Net margin at 214.9% Over the past year, operating margin is down 99% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 11.4x
P/S Ratio: 10.0x
P/B Ratio: 0.8x

At 11.4x P/E, the stock trades below typical market levels. P/S of 10.0x and P/B of 0.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 36% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $6.04B
Cash: $41.78M
Long-Term Debt: $4.36B
Book Value: $1.46B
D/E Ratio: 3.0
Debt/EBITDA: N/A

With $6.04B in assets and $4.36B in long-term debt, D/E is 3.0and book value is $1.46B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 6 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $11.03M
TTM Free Cash Flow: $78.51M
FCF Margin: 69.6%
FCF / Net Income: 0.8

TTM FCF of $78.51M on $11.03M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.