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Ellington Financial

NYSE:EFC
Snowflake Description

Moderate growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EFC
NYSE
$544M
Imp Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The last earnings update was 17 days ago. More info.


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EFC Share Price and Events
7 Day Returns
0%
NYSE:EFC
-0.5%
US Mortgage REITs
-1.4%
US Market
1 Year Returns
11.7%
NYSE:EFC
-4.6%
US Mortgage REITs
1.6%
US Market
EFC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ellington Financial (EFC) 0% -0.2% 6.7% 11.7% 4.1% -23.9%
US Mortgage REITs -0.5% -3.5% -2.7% -4.6% 2.8% -12.9%
US Market -1.4% -3.9% 0.1% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • EFC outperformed the Mortgage REITs industry which returned -4.6% over the past year.
  • EFC outperformed the Market in United States of America which returned 1.6% over the past year.
Price Volatility
EFC
Industry
5yr Volatility vs Market

EFC Value

 Is Ellington Financial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ellington Financial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ellington Financial.

NYSE:EFC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $19.31 * 9.1%
$1.76
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. $19.31
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:EFC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Mortgage REITs Unlevered Beta Simply Wall St/ S&P Global 0.28
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.278 (1 + (1- 21%) (378.71%))
1.075
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.075 * 5.96%)
9.13%

Discounted Cash Flow Calculation for NYSE:EFC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Ellington Financial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:EFC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.1% – 9.13%) * $19.31)
$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.00 / (9.13% - 2.73%)
$-0.05
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $19.31 + $-0.05
$19.26
NYSE:EFC Discount to Share Price
Calculation Result
Value per share (USD) From above. $19.26
Current discount Discount to share price of $18.17
= -1 x ($18.17 - $19.26) / $19.26
5.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ellington Financial is available for.
Intrinsic value
6%
Share price is $18.17 vs Future cash flow value of $19.26
Current Discount Checks
For Ellington Financial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ellington Financial's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Ellington Financial's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ellington Financial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ellington Financial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:EFC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.35
NYSE:EFC Share Price ** NYSE (2019-05-24) in USD $18.17
United States of America Mortgage REITs Industry PE Ratio Median Figure of 23 Publicly-Listed Mortgage REITs Companies 12.78x
United States of America Market PE Ratio Median Figure of 3,086 Publicly-Listed Companies 17.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ellington Financial.

NYSE:EFC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:EFC Share Price ÷ EPS (both in USD)

= 18.17 ÷ 1.35

13.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ellington Financial is overvalued based on earnings compared to the US Mortgage REITs industry average.
  • Ellington Financial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Ellington Financial's expected growth come at a high price?
Raw Data
NYSE:EFC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
4.3%per year
United States of America Mortgage REITs Industry PEG Ratio Median Figure of 21 Publicly-Listed Mortgage REITs Companies 1.21x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NYSE:EFC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.43x ÷ 4.3%

3.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ellington Financial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ellington Financial's assets?
Raw Data
NYSE:EFC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $18.90
NYSE:EFC Share Price * NYSE (2019-05-24) in USD $18.17
United States of America Mortgage REITs Industry PB Ratio Median Figure of 37 Publicly-Listed Mortgage REITs Companies 0.96x
United States of America Market PB Ratio Median Figure of 5,208 Publicly-Listed Companies 1.8x
NYSE:EFC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:EFC Share Price ÷ Book Value per Share (both in USD)

= 18.17 ÷ 18.90

0.96x

* Primary Listing of Ellington Financial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ellington Financial is overvalued based on assets compared to the US Mortgage REITs industry average.
X
Value checks
We assess Ellington Financial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage REITs industry average (and greater than 0)? (1 check)
  5. Ellington Financial has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

EFC Future Performance

 How is Ellington Financial expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ellington Financial expected to grow at an attractive rate?
  • Ellington Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Ellington Financial's earnings growth is positive but not above the United States of America market average.
  • Ellington Financial's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:EFC Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:EFC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 4.3%
NYSE:EFC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 26.7%
United States of America Mortgage REITs Industry Earnings Growth Rate Market Cap Weighted Average 42.9%
United States of America Mortgage REITs Industry Revenue Growth Rate Market Cap Weighted Average 26.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:EFC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:EFC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 54
2020-12-31 162 51 3
2019-12-31 153 52 2
NYSE:EFC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 82 -349 41
2018-12-31 79 -494 46
2018-09-30 81 -760 55
2018-06-30 72 -571 55
2018-03-31 64 -480 39
2017-12-31 61 -463 33
2017-09-30 69 -218 28
2017-06-30 70 -135 22
2017-03-31 68 -19 22
2016-12-31 59 70 -16
2016-09-30 59 429 -16
2016-06-30 61 380 -12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ellington Financial's earnings are expected to grow by 4.3% yearly, however this is not considered high growth (20% yearly).
  • Ellington Financial's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:EFC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Ellington Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EFC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.80 1.80 1.80 1.00
2020-12-31 1.69 1.80 1.51 6.00
2019-12-31 1.72 1.80 1.59 6.00
NYSE:EFC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.35
2018-12-31 1.52
2018-09-30 1.80
2018-06-30 1.76
2018-03-31 1.23
2017-12-31 1.04
2017-09-30 0.86
2017-06-30 0.69
2017-03-31 0.68
2016-12-31 -0.48
2016-09-30 -0.48
2016-06-30 -0.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ellington Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ellington Financial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ellington Financial has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

EFC Past Performance

  How has Ellington Financial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ellington Financial's growth in the last year to its industry (Mortgage REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ellington Financial's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Ellington Financial's 1-year earnings growth exceeds its 5-year average (3.8% vs -9.9%)
  • Ellington Financial's earnings growth has not exceeded the US Mortgage REITs industry average in the past year (3.8% vs 13.7%).
Earnings and Revenue History
Ellington Financial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ellington Financial Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EFC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 81.99 40.62 16.95
2018-12-31 79.35 45.92 15.62
2018-09-30 80.61 55.44 15.34
2018-06-30 71.61 55.00 15.09
2018-03-31 63.79 39.14 14.90
2017-12-31 60.56 33.49 15.33
2017-09-30 68.86 27.83 15.73
2017-06-30 69.62 22.23 16.05
2017-03-31 68.32 22.16 16.45
2016-12-31 58.98 -15.79 16.90
2016-09-30 59.39 -15.71 17.45
2016-06-30 61.14 -12.37 17.51
2016-03-31 78.35 -4.30 17.35
2015-12-31 84.86 37.60 17.42
2015-09-30 70.15 38.50 17.12
2015-06-30 74.24 47.42 18.68
2015-03-31 56.77 55.05 17.72
2014-12-31 51.38 58.31 17.40
2014-09-30 66.35 70.29 20.00
2014-06-30 61.88 69.11 20.31
2014-03-31 85.18 59.93 22.09
2013-12-31 91.81 77.22 22.12
2013-09-30 82.22 86.91 27.07
2013-06-30 77.43 104.24 33.59
2013-03-31 51.50 103.32 33.63
2012-12-31 49.45 95.06 30.95
2012-09-30 47.20 72.40 22.59
2012-06-30 32.10 42.36 12.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ellington Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ellington Financial used its assets less efficiently than the US Mortgage REITs industry average last year based on Return on Assets.
  • Unable to establish if Ellington Financial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Ellington Financial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ellington Financial has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

EFC Health

 How is Ellington Financial's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ellington Financial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ellington Financial's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Ellington Financial's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ellington Financial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ellington Financial Company Filings, last reported 1 month ago.

NYSE:EFC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 592.43 2,061.46 96.61
2018-12-31 595.17 2,016.74 125.93
2018-09-30 616.68 1,951.99 245.36
2018-06-30 613.28 1,728.81 279.15
2018-03-31 609.95 1,636.36 188.59
2017-12-31 620.96 1,513.37 254.75
2017-09-30 629.72 1,236.49 334.39
2017-06-30 636.96 1,234.34 427.78
2017-03-31 654.46 1,169.01 427.93
2016-12-31 644.78 1,076.35 343.69
2016-09-30 664.75 1,054.40 409.48
2016-06-30 679.18 1,157.24 408.99
2016-03-31 694.92 1,257.98 460.35
2015-12-31 738.95 1,234.66 452.51
2015-09-30 758.34 1,444.22 322.98
2015-06-30 777.08 1,406.63 269.31
2015-03-31 785.42 1,464.45 290.85
2014-12-31 788.54 1,736.32 366.17
2014-09-30 812.11 1,443.33 232.53
2014-06-30 631.12 1,238.13 235.04
2014-03-31 630.08 1,206.39 257.80
2013-12-31 626.05 1,281.94 271.12
2013-09-30 629.80 1,379.72 271.30
2013-06-30 637.86 1,307.70 289.96
2013-03-31 520.60 984.97 143.62
2012-12-31 506.36 922.27 121.24
2012-09-30 498.65 682.54 142.35
2012-06-30 395.28 913.42 159.17
  • Ellington Financial's level of debt (348%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (191.5% vs 348% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Ellington Financial's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Ellington Financial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ellington Financial has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

EFC Dividends

 What is Ellington Financial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.25%
Current annual income from Ellington Financial dividends. Estimated to be 9.4% next year.
If you bought $2,000 of Ellington Financial shares you are expected to receive $185 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ellington Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Ellington Financial's dividend is above the markets top 25% of dividend payers in United States of America (3.75%).
Upcoming dividend payment

Purchase Ellington Financial before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:EFC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Mortgage REITs Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 10.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:EFC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.68 1.00
2020-12-31 1.68 6.00
2019-12-31 1.74 6.00
NYSE:EFC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-07 1.680 9.264
2019-04-05 1.680 9.255
2019-02-14 1.640 9.361
2018-10-31 1.640 10.385
2018-08-01 1.640 10.214
2018-05-02 1.640 10.317
2018-02-07 1.640 11.070
2017-11-01 1.640 10.982
2017-07-31 1.800 11.403
2017-05-01 1.800 10.911
2017-02-08 1.800 11.260
2016-10-31 1.800 11.319
2016-08-01 2.000 11.843
2016-05-02 2.000 11.574
2016-02-09 2.000 11.676
2015-11-06 2.000 11.875
2015-08-03 2.600 14.258
2015-05-04 2.600 13.515
2015-02-11 2.600 12.882
2014-11-04 3.080 14.773
2014-08-06 3.080 13.272
2014-05-06 3.080 12.840
2014-02-11 3.080 12.941
2013-11-04 3.080 13.237
2013-08-01 3.080 13.665
2013-05-02 3.080 13.070
2013-02-12 3.080 12.183
2012-11-02 2.800 12.242
2012-08-01 2.800 12.425
2012-05-07 2.800 13.077
2012-02-09 1.600 8.173
2011-11-02 1.600 8.922
2011-08-02 1.600 9.003
2011-05-09 1.600 7.513
2011-03-16 2.510 11.016
2011-02-15 2.510 10.630
2011-02-10 5.240 21.996
2010-11-10 3.200 14.380

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ellington Financial has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Ellington Financial has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Ellington Financial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Ellington Financial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ellington Financial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ellington Financial has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

EFC Management

 What is the CEO of Ellington Financial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Larry Penn
COMPENSATION $0
AGE 56
TENURE AS CEO 11.8 years
CEO Bio

Mr. Laurence Eric Penn, also known as Larry serves as a Founding Partner, Vice Chairman and the Chief Operating Officer at Ellington Management Group, L.L.C. where he helps oversee many functions of the firm. In Ellington’s earlier years, Mr. Penn was the senior portfolio manager primarily responsible for investments in agency MBS. Prior to joining Ellington in 1995 shortly after its inception, Mr. Penn was at Lehman Brothers where he was a Managing Director and co-head of CMO origination and trading. Mr. Penn began his career at Lehman Brothers in 1984, after receiving a Master of Advanced Study in Mathematics from Cambridge University, where he studied as both a National Science Foundation and Winston Churchill Scholar. Mr. Penn graduated summa cum laude, Phi Beta Kappa with a Bachelor of Arts in Mathematics from Harvard University in 1983. He was one of five winners nationwide in the 1980 Putnam collegiate mathematics problem solving competition, and represented the United States in the 21st International Mathematics Olympiad held in London, England.

CEO Compensation
  • Insufficient data for Larry to compare compensation growth.
  • Larry's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Ellington Financial management team in years:

5.8
Average Tenure
50.5
Average Age
  • The average tenure for the Ellington Financial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Larry Penn

TITLE
CEO, President & Director
AGE
56
TENURE
11.8 yrs

JR Herlihy

TITLE
Chief Financial Officer
COMPENSATION
$542K
AGE
36
TENURE
1.2 yrs

Michael Vranos

TITLE
Co-Chief Investment Officer
AGE
56
TENURE
9.9 yrs

Chris Smernoff

TITLE
Chief Accounting Officer
COMPENSATION
$456K
AGE
41
TENURE
1.2 yrs

Mark Tecotzky

TITLE
Co-Chief Investment Officer
AGE
56
TENURE
11.2 yrs

Daniel Margolis

TITLE
General Counsel
AGE
45
TENURE
5.8 yrs

Jason Frank

TITLE
Secretary & Corporate Counsel
TENURE
5.4 yrs
Board of Directors Tenure

Average tenure and age of the Ellington Financial board of directors in years:

11.8
Average Tenure
62
Average Age
  • The average tenure for the Ellington Financial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Thomas Robards

TITLE
Chairman of the Board
COMPENSATION
$166K
AGE
71
TENURE
9.6 yrs

Larry Penn

TITLE
CEO, President & Director
AGE
56
TENURE
11.8 yrs

Ed Resendez

TITLE
Director
COMPENSATION
$134K
AGE
62
TENURE
11.8 yrs

Ronald Simon

TITLE
Director
COMPENSATION
$134K
AGE
79
TENURE
11.8 yrs

Lisa Mumford

TITLE
Director
COMPENSATION
$738K
AGE
55
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Ellington Financial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ellington Financial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

EFC News

Simply Wall St News

Is Ellington Financial Inc. (NYSE:EFC) An Attractive Dividend Stock?

Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … In this case, Ellington Financial likely looks attractive to dividend investors, given its 9.3% dividend yield and nine-year payment history. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

4 Days Left Until Ellington Financial Inc. (NYSE:EFC) Trades Ex-Dividend

(NYSE:EFC): The dividend payment of US$0.14 per share will be distributed to shareholders on 25 April 2019, and the stock will begin trading ex-dividend at an earlier date, 28 March 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Ellington Financial's latest financial data to analyse its dividend characteristics. … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

4 Days Left To Cash In On Ellington Financial LLC (NYSE:EFC) Dividend

If you are interested in cashing in on Ellington Financial LLC's (NYSE:EFC) upcoming dividend of US$0.41 per share, you only have 4 days left to buy the shares before its ex-dividend date, 28 February 2019, in time for dividends payable on the 15 March 2019. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

How Many Insiders Bought Ellington Financial LLC (NYSE:EFC) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Ellington Financial LLC (NYSE:EFC). … Happily, we note that in the last year insiders bought 168.11k shares for a total of US$2.7m … In total, Ellington Financial insiders bought more than they sold over the last year

Simply Wall St -

2 Days Left To Ellington Financial LLC (NYSE:EFC)’s Ex-Dividend Date, Should Investors Buy?

Investors who want to cash in on Ellington Financial LLC's (NYSE:EFC) upcoming dividend of US$0.41 per share have only 2 days left to buy the shares before its ex-dividend date, 30 August 2018, in time for dividends payable on the 17 September 2018. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Will the company be able to keep paying dividend based on the future earnings growth

Simply Wall St -

How Does Ellington Financial LLC (NYSE:EFC) Fare As A Dividend Stock?

Ellington Financial LLC (NYSE:EFC) has returned to shareholders over the past 8 years, an average dividend yield of 12.00% annually. … Does Ellington Financial tick all the boxes of a great dividend stock? … View our latest analysis for Ellington Financial

Simply Wall St -

Ellington Financial LLC’s (NYSE:EFC) Insiders Ramped Up Holdings - Should You?

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. … Ellington Financial is one of United States’s. … some insider buying over the past three months, with insiders investing in.

Simply Wall St -

Does Ellington Financial LLC's (NYSE:EFC) PE Ratio Signal A Buying Opportunity?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for EFC Price per share = $15.18 Earnings per share = $1.044 ∴ Price-Earnings Ratio = $15.18 ÷ $1.044 = 14.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with EFC, then EFC’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with EFC, EFC’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

Is It Time To Sell Ellington Financial LLC (EFC) Based Off Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for EFC Price per share = 15.35 Earnings per share = 0.687 ∴ Price-Earnings Ratio = 15.35 ÷ 0.687 = 22.4x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you are inadvertently comparing riskier firms with EFC, then EFC’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price. … If this assumption does not hold true, EFC’s higher P/E ratio may be because firms in our peer group are being undervalued by the market.

Simply Wall St -

EFC Company Info

Description

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S. government agency or the U.S. government-sponsored entity; residential mortgage loans; commercial mortgage-backed securities; commercial mortgage loans and other commercial real estate debt; and residential mortgage loans. It also provides collateralized loan obligations; mortgage-related and non-mortgage-related derivatives; equity investments in mortgage-related entities; and other strategic investments, as well as invests in corporate debt and equity securities. In addition, it offers consumer loans and asset-backed securities backed by consumer and commercial assets. Ellington Financial LLC was founded in 2007 and is based in Old Greenwich, Connecticut.

Details
Name: Ellington Financial Inc.
EFC
Exchange: NYSE
Founded: 2007
$544,332,789
$540,480,749
29,957,776
Website: http://www.ellingtonfinancial.com
Address: Ellington Financial Inc.
53 Forest Avenue,
Old Greenwich,
Connecticut, 06870,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE EFC Common Stock New York Stock Exchange US USD 08. Oct 2010
Number of employees
Current staff
Staff numbers
0
Ellington Financial employees.
Industry
Mortgage REITs
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/27 00:59
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.