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Earnings transcript
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LADR
Ladder Capital Corp
$10.4
0.29
(2.87%)
| Exchange: | NYSE |
| Market Cap: | 1.328B |
| Shares Outstanding: | 123.764B |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Mortgages | |||||
| CEO: | Brian Richard Harris | |||||
| Full Time Employees: | 54 | |||||
| Address: |
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| Website: | https://www.laddercapital.com |
Ladder Capital Corp engages in three core business activities. Its Lending division originates first mortgage loans, comprising “conduit” loans backed by stable, revenue-generating commercial real estate, and “balance sheet” loans for commercial properties undergoing significant change, such as lease-up, sale preparation, or rehabilitation. This segment also deploys capital into various structured real estate debt instruments, including note purchase financings, subordinated debt, and mezzanine financing. The Securities division focuses its investments on commercial mortgage-backed securities (CMBS), U.S. Agency Securities, corporate bonds, and equity holdings. Through its Real Estate division, the company acquires and maintains a diverse portfolio of commercial and residential properties, which spans office buildings, student housing, hotels, industrial sites, retail centers, and condominium units. Established in 2008 and headquartered in New York City, Ladder Capital Corp is recognized as a real estate investment trust (REIT) for federal income tax purposes, enabling it to generally bypass federal corporate income taxes by distributing at least 90% of its taxable earnings to shareholders.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 525,089 | 511,218 | 392,300 |
| Gross Profit | 415,233 | 394,878 | 281,535 |
| EBITDA | 381,553 | 366,459 | 275,394 |
| Operating Income | 338,366 | 332,323 | 243,369 |
| Net Income | 101,125 | 108,255 | 64,182 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 5,512,677 | 4,845,073 | 5,152,550 |
| Total Liabilities | 3,980,479 | 3,312,134 | 3,671,193 |
| Total Stockholders Equity | 1,533,148 | 1,535,030 | 1,483,926 |
| Total Debt | 3,177,339 | 3,153,479 | 3,510,402 |
| Cash and Cash Equivalents | 1,015,678 | 1,323,481 | 37,953 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 180,604 | 133,921 | 87,019 |
| Capital Expenditure | 0 | 0 | 0 |
| Free Cash Flow | 180,604 | 133,921 | 87,019 |
| Net Income | 100,501 | 107,447 | 22,328 |
| Net Change in Cash | 416,341 | 270,096 | -1,346,039 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2027 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 262,753.576 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 288,446.423 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 275,600 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 192,575.358 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 211,405.965 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 201,990.662 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 148,475.626 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 152,282.920 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 150,379.273 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 0 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 1.200 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 1.210 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 1.180 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 2 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance: Ladder Capital Corp reported distributable earnings of $32.1 million in Q3 2025, reflecting strong operational results. Key metrics such as revenue and net income from recent income statements indicate consistent profitability, supported by a focus on high-quality assets as highlighted in the earnings call.
- Strong Balance Sheet Metrics: The company’s current ratio (TTM) and quick ratio (TTM) suggest adequate liquidity to meet short-term obligations, while a manageable debt-to-equity ratio (TTM) indicates a balanced capital structure, providing financial stability.
- Investment-Grade Status: As noted in the Q3 2025 earnings call, Ladder Capital’s investment-grade status enhances its ability to access favorable financing terms, strengthening its position to optimize capital structure and drive shareholder returns.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates LADR intrinsic value between $10.75 – $15.67 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about LADR valuation
Is Ladder Capital Corp (LADR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Ladder Capital Corp (LADR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is LADR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether LADR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is LADR’s P/E ratio?
You can see LADR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for LADR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is LADR a good long-term investment?
Whether LADR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
LADR
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Daily snapshot
2.87
Trading Metrics:
| Open: | 10.24 | Previous Close: | 10.11 | |
| Day Low: | 10.2 | Day High: | 10.4 | |
| Year Low: | 9.61 | Year High: | 11.92 | |
| Price Avg 50: | 10.12 | Price Avg 200: | 10.67 | |
| Volume: | 981624 | Average Volume: | 892098 |
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Login — it's freeLADR full analysis
Welcome to MARKETSNAP’s SWOT analysis for Ladder Capital Corp, also known by its ticker LADR. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into this real estate investment trust to break down its strengths, weaknesses, opportunities, and threats. Let’s unpack what makes Ladder Capital tick, where it stands in the market, and whether it’s a solid addition to your portfolio. Stick with me as we explore…
