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Financials · STWD

STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. (STWD) financials

For the twelve months ended Sep 30, 2026, STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. reported $2.06B of revenue and -$234.36M of net income.

Revenue, TTM
$2.06B
Revenue growth, YoY
+14.4%
Net income, TTM
-$234.36M
Net margin
-11.3%
EPS, diluted, TTM
-$0.69
Cash
$391.94M
P/S
2.16
Market cap
$4.46B
Annual revenue$1.84B
FY2016FY2025
Annual net income$411.54M
FY2016FY2025
Annual free cash flow$99.36M
FY2023FY2025

STWD revenue and earnings growth

STWD revenueQ3 2026$545.85M

Quarter YoY
+11.7%
QoQ
+6.3%
FY YoY
-5.3%
5Y CAGR
+10.2%
10Y CAGR
+9.6%

STWD revenue was $545.85M in fiscal Q3 2026 (ended Sep 30, 2026), up 11.7% from a year earlier and up 6.3% from the prior quarter. For the full fiscal 2025 it was $1.84B, down 5.3% from fiscal 2024. Compound annual growth was +10.2% over 5 years and +9.6% over 10 years. It rose in 7 of the last 10 fiscal years.

STWD net incomeQ3 2026-$389.71M

FY YoY
+14.3%
5Y CAGR
+4.4%
10Y CAGR
-0.9%

STWD net income was -$389.71M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $72.56M a year earlier. For the full fiscal 2025 it was $411.54M, up 14.3% from fiscal 2024. Compound annual growth was +4.4% over 5 years and -0.9% over 10 years. It rose in 6 of the last 10 fiscal years.

STWD EPSQ3 2026-$1.08

FY YoY
+4.5%
5Y CAGR
-0.2%
10Y CAGR
-4.9%

STWD diluted EPS was -$1.08 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.19 a year earlier. For the full fiscal 2025 it was $1.15, up 4.5% from fiscal 2024. Compound annual growth was -0.2% over 5 years and -4.9% over 10 years.

STWD free cash flowQ4 2025$488.75M

Quarter YoY
+65.4%
FY YoY
-84.6%

STWD free cash flow was $488.75M in fiscal Q4 2025 (ended Dec 31, 2025), up 65.4% from a year earlier. For the full fiscal 2025 it was $99.36M, down 84.6% from fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.84B$1.95B$2.05B$1.46B$1.17B$1.14B$1.20B$1.11B$879.89M$784.67M
Selling, general and admin$208.81M$199.24M$180.21M$175.50M$171.30M$157.87M$155.11M$136.13M$129.59M$152.94M
Operating income--------$144.64M$133.54M
Interest expense--$1.44B$797.12M$445.09M$419.76M$508.73M$408.19M$295.67M$230.80M
Pre-tax income$479.81M$406.01M$417.48M$997.54M$501.10M$386.28M$550.17M$426.53M$444.29M$376.00M
Income tax$36.72M$25.43M-$682.0K-$61.52M$8.67M$20.20M$13.23M$15.33M$31.52M$8.34M
Net income$411.54M$359.93M$339.21M$871.48M$447.74M$331.69M$509.66M$385.83M$400.77M$365.19M
EPS, basic$1.15$1.10$1.07$2.80$1.54$1.16$1.81$1.44$1.53$1.52
EPS, diluted$1.15$1.10$1.07$2.74$1.52$1.16$1.79$1.42$1.52$1.50
Diluted shares350.0M320.6M310.5M315.7M296.8M282.5M289.7M288.5M262.1M241.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$499.48M$554.00M$311.97M$382.13M$321.91M$722.16M$574.03M$487.87M$418.27M$650.75M
Goodwill$259.85M$259.85M$259.85M$259.85M$259.85M$259.85M$259.85M$259.85M$140.44M$140.44M
Total assets$63.18B$62.56B$69.50B$79.04B$83.85B$80.87B$78.04B$68.26B$62.94B$77.26B
Total debt----$1.83B$1.73B$1.93B$2.00B$2.13B$2.01B
Total liabilities$55.69B$55.36B$62.48B$71.84B$77.20B$76.01B$72.91B$63.36B$58.36B$72.70B
Shareholders' equity$6.80B$6.77B$6.61B$6.84B$6.43B$4.86B$5.14B$4.90B$4.58B$4.56B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$977.85M$646.59M$528.60M$213.74M-$989.98M$1.05B-$13.20M$585.47M-$246.84M$556.63M
Capital expenditures$878.49M$0$0-------
Free cash flow$99.36M$646.59M$528.60M-------
Investing cash flow-$3.78B$2.08B$855.07M-$2.95B-$4.28B-$911.80M-$775.87M-$2.52B-$1.04B-$800.54M
Financing cash flow$2.92B-$2.49B-$1.45B$2.80B$4.87B$13.28M$876.72M$2.00B$1.05B$505.51M
Dividends paid$668.86M$620.00M$601.19M$591.46M$553.93M$546.88M$538.42M$509.97M$501.66M$458.35M
Share repurchases---$0$0$33.83M$0$12.09M-$19.72M
Depreciation and amortization$78.98M$41.31M$49.14M$49.29M$83.00M$94.41M$113.32M$132.65M$93.60M$66.79M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-5.3%-5.0%40.0%25.2%3.0%-5.0%7.9%26.1%12.1%6.6%
Net income growth, YoY14.3%6.1%-61.1%94.6%35.0%-34.9%32.1%-3.7%9.7%-19.0%
EPS growth, YoY4.5%2.8%-60.9%80.3%31.0%-35.2%26.1%-6.6%1.3%-21.5%
Operating margin--------16.4%17.0%
Net margin22.3%18.5%16.5%59.5%38.3%29.2%42.6%34.8%45.5%46.5%
Free cash flow margin5.4%33.2%25.8%-------
Return on equity6.1%5.3%5.1%12.7%7.0%6.8%9.9%7.9%8.8%8.0%
Return on assets0.7%0.6%0.5%1.1%0.5%0.4%0.7%0.6%0.6%0.5%
Debt to equity----0.280.360.380.410.460.44

Source: XBRL data STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

STWD peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
STWD$2.06B+14.4%-$234.36M-11.3%$4.46B
WELL$13.79B+39.2%$1.67B12.1%$181.46B
PLD$8.95B+6.7%$3.71B41.5%$124.09B
EQIX$10.06B+11.1%$1.65B16.4%$104.38B
AMT$11.01B+5.3%$3.31B30.1%$87.65B
SPG$7.15B+16.2%$4.51B63.0%$75.39B
DLR$6.34B+12.6%$1.38B21.7%$68.13B
PSA$5.03B+5.2%$1.90B37.8%$63.18B
O$6.21B+10.8%$1.36B21.8%$56.58B

STWD FAQ

7 questions
  • What is STWD revenue?
    STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. (STWD) reported $2.06B of revenue for the twelve months ended Sep 30, 2026. That is up 14.4% from the year before. Revenue for fiscal 2025 was $1.84B.
  • Is STWD profitable?
    No. STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. reported a net loss of $234.36M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does STWD have?
    STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. reported $391.94M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is STWD revenue growing?
    STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc.'s revenue changed -5.3% in fiscal 2025, to $1.84B. Its compound annual growth rate was +10.2% over 5 years and +9.6% over 10 years.
  • What is STWD earnings per share?
    Diluted earnings per share were -$0.69 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did STWD last report financial results?
    The latest statements here come from STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc.'s 10-Q filed on Nov 6, 2026, covering the period ended Sep 30, 2026.
  • Where does this STWD financial data come from?
    Quantisnow builds these statements from the structured XBRL data STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. files with the SEC. It is provided for information only and is not investment advice.