Ellington Credit's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ellington Credit (EARN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Ellington Credit vs Its Competitors
- TTM: Trailing 12-month revenue of 10M vs 18,428M combined for tracked competitors (0.1% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-96.7% annualized vs trailing 12 months), vs accelerating (+4.9%) for its tracked peer group.
- Growth: Ellington Credit generated -98.6% revenue growth year over year in Q4 2025, vs 488.4% for its tracked competitors combined.
- Profitability: Its -9,597.6% net margin compares with 9.3% for the peer group.
- Peer revenue share: Ellington Credit accounted for 0.0% of combined revenue among its tracked peer group, down from 0.7% a year earlier.
- Peer differentiation: Revenue per employee of $0.21M compares with $10.35M for the peer group (0.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
EARN Sales vs. its Competitors, Q4 2025
Ellington Credit reported revenue contraction of 98.61 % year on year in Q4 2025, below its competitors' combined revenue growth of 488.35 %.
With a net margin of -9,597.56 %, Ellington Credit reported lower profitability than its competitors (9.33 %).
Ellington Credit generated 0.00 % of the combined sales of its peer group, down from 0.71 % a year earlier.
Ellington Credit vs. its Competitors, Q4 2025
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Ellington Credit and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Ellington Credit Company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Ellington Credit's competitor groups requires a Commercial License.
For context: the Real Estate Investment Trusts industry grew revenue -0.8% year over year, combined, vs -98.6% for Ellington Credit. Ellington Credit's share of combined industry revenue moved from 0.01% to 0.00%, a loss of 0.01 percentage points.
Ellington Credit's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ellington Credit Company | No | No | No | Yes |
| Competitors combined (8) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 0.00 % (0 of 8) | 0.00 % (0 of 8) | 62.50 % (5 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
EARN Stock Performance relative to its Competitors
EARN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Two Harbors Investment Corp | 282.9% | Outperformed |
| 2 | Adamas Trust Inc | 282.9% | Outperformed |
| 3 | Annaly Capital Management Inc | 282.9% | Outperformed |
| 4 | Agnc Investment Corp | 282.9% | Outperformed |
| 5 | Invesco Mortgage Capital Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ellington Credit's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Ellington Credit Company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Ellington Credit Company | 140.64 | 10.07 |
| Annaly Capital Management Inc | 13,742.04 | 7,228.06 |
| Agnc Investment Corp | 10,417.33 | 4,497.00 |
| Starwood Property Trust inc | 4,851.89 | 2,007.95 |
| Blackstone Mortgage Trust Inc | 1,900.85 | 2,297.66 |
| Two Harbors Investment Corp | 1,282.84 | 713.47 |
| SUBTOTAL | 34,376.74 | 18,438.44 |
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Sources: Ellington Credit Company's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ellington Credit Company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ellington Credit's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Invesco Mortgage Capital Inc | Named by the company | 85% |
| Two Harbors Investment Corp | Named by the company | 85% |
| Chimera Investment Corporation | Named by the company | 85% |
| Starwood Property Trust inc | Named by the company | 85% |
| Agnc Investment Corp | Named by the company | 85% |
| Annaly Capital Management Inc | Named by the company | 85% |
| Western Asset Mortgage Capital Corporation | Named by the company | 85% |
| Blackstone Mortgage Trust Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Ellington Credit's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Ellington Credit's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Starwood Property Trust inc | Commercial and Residential Lending 67.24 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Ellington Credit's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ellington Credit Company | 141 | 209,813 | -109,271 |
| Annaly Capital Management Inc | 13,742 | 37,843,225 | 15,598,440 |
| Agnc Investment Corp | 10,417 | 83,277,778 | 41,962,963 |
| Starwood Property Trust inc | 4,852 | 6,197,377 | 817,046 |
| Blackstone Mortgage Trust Inc | 1,901 | 28,366,185 | 190,481 |
| Two Harbors Investment Corp | 1,283 | 1,468,039 | -705,681 |
| PEERS TOTAL | 34,236 | 10,353,016 | 3,101,385 |
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Ellington Credit's Position in Industry Market Structure
Market-capitalization share and concentration across all 182 companies in Ellington Credit's industry classification, broader than the peer set above. Market cap in millions of $.Ellington Credit ranks #0 of 182 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 418, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Welltower Inc | 165,688 | 11.89 % |
| 2 | Prologis Inc | 123,181 | 8.84 % |
| 3 | Equinix Inc | 99,078 | 7.11 % |
| 4 | American Tower Corporation | 75,990 | 5.45 % |
| 5 | Simon Property Group inc | 1,234 | 5.2% |
| 6 | Digital Realty Trust Inc | 1,234 | 5.2% |
| 7 | Realty Income Corporation | 1,234 | 5.2% |
| 8 | Public Storage | 1,234 | 5.2% |
| 9 | Ventas inc | 1,234 | 5.2% |
| 10 | Iron Mountain Inc | 1,234 | 5.2% |
| 0 | Ellington Credit Company | 157 | 0.00 % |
Market cap and industry share for the rest of Ellington Credit's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-01.
Ellington Credit's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Real Estate Investment Trusts industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (193 companies). See the full Real Estate Investment Trusts industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 83.74 % | 70.51 % (avg) | +13.2 pp |
| Operating Margin | 6.41 % | industry median | -18.1 pp |
| EBITDA Margin | 128.52 % | 37.73 % (avg) | +90.8 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 24.26 % (avg) | -24.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Ellington Credit's Valuation vs Competitive Position
Valuation multiples vs the Real Estate Investment Trusts industry average (193 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Real Estate Investment Trusts industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 33.2x | - |
| EV / EBITDA | 53.5x | 17.6x | +35.9x |
| P/B | 1.1x | 2.0x | -1.0x |
| Return on Equity | -2.76 % | industry aggregate | -6.31 % |
| Return on Invested Capital | 0.07 % | 2.03 % (avg) | -1.96 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Ellington Credit's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -124.43 % | - | - | - | -120.53 % | - | - | 57.32 % |
| Operating Margin | 706.30 % | 196.16 % | 508.61 % | 62.44 % | 192.35 % | 127.35 % | 45.17 % | 44.69 % |
| Return on Invested Capital | -3.80 % | -11.45 % | -10.05 % | 2.65 % | -1.25 % | -3.81 % | 0.39 % | 0.68 % |
| P/E | 13.6x | - | 6.5x | 7.4x | - | - | 17.3x | 23.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Ellington Credit's Strategic Group Map
Every company in Ellington Credit's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Ellington Credit is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Ellington Credit's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 418 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 24.26 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Ellington Credit's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Ellington Credit's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Ellington Credit's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Ellington Credit falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Ellington Credit's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 18.1 points below the industry median.
- Return on equity 6.3 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-96.7% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (33.30 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Ellington Credit's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ellington Credit Company | 0.04 | 0.14 | 2.82 |
| Annaly Capital Management Inc | - | 0.85 | - |
| Agnc Investment Corp | 0.01 | 0.43 | 6.94 |
| Starwood Property Trust inc | 0.05 | 2.74 | 4.27 |
| Blackstone Mortgage Trust Inc | 0.03 | 0.03 | 2.47 |
| Two Harbors Investment Corp | 0.09 | 1.02 | 0.18 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ellington Credit's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ellington Credit Company | Q1 2025 | -98.6 % | - |
| Annaly Capital Management Inc | Q2 2026 | - | +1,271.1 % |
| Agnc Investment Corp | Q2 2026 | - | - |
| Starwood Property Trust inc | Q2 2026 | +15.6 % | -88.9 % |
| Blackstone Mortgage Trust Inc | Q2 2026 | - | - |
| Two Harbors Investment Corp | Q1 2026 | +4.2 % | - |
| PEERS TOTAL | -77.8 % | +13,008.4 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ellington Credit's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ellington Credit Company | Q1 2025 | - | - |
| Annaly Capital Management Inc | Q2 2026 | - | - |
| Agnc Investment Corp | Q2 2026 | - | - |
| Starwood Property Trust inc | Q2 2026 | +81.3 % | - |
| Blackstone Mortgage Trust Inc | Q2 2026 | - | - |
| Two Harbors Investment Corp | Q1 2026 | - | - |
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Ellington Credit's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ellington Credit Company | - | - | - |
| Annaly Capital Management Inc | 2.19% | 2.19% | 18.49% |
| Agnc Investment Corp | 1.95% | 7.27% | 18.67% |
| Starwood Property Trust inc | 0.43% | 0.39% | 3.76% |
| Blackstone Mortgage Trust Inc | 0.08% | 0.09% | 0.45% |
| Two Harbors Investment Corp | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ellington Credit's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ellington Credit Company | - | 13.96 |
| Annaly Capital Management Inc | 4.23 | 1.90 |
| Agnc Investment Corp | 4.57 | 2.32 |
| Starwood Property Trust inc | 21.69 | 2.42 |
| Blackstone Mortgage Trust Inc | 140.63 | 0.83 |
| Two Harbors Investment Corp | - | 1.80 |
| PEERS AVERAGE | 6.23 | 1.86 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.