Ready Capital Corp (RC) - Net Assets
Based on the latest financial reports, Ready Capital Corp (RC) has net assets worth $1.88 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.33 Billion) and total liabilities ($6.46 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check RC tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.88 Billion |
| % of Total Assets | 22.51% |
| Annual Growth Rate | 31.45% |
| 5-Year Change | 132.05% |
| 10-Year Change | 988.85% |
| Growth Volatility | 67.89 |
Ready Capital Corp - Net Assets Trend (2011–2024)
This chart illustrates how Ready Capital Corp's net assets have evolved over time, based on quarterly financial data. See Ready Capital Corp liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Ready Capital Corp (2011–2024)
The table below shows the annual net assets of Ready Capital Corp from 2011 to 2024. For live valuation and market cap data, see RC stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.94 Billion | -26.86% |
| 2023-12-31 | $2.65 Billion | +39.41% |
| 2022-12-31 | $1.90 Billion | +48.26% |
| 2021-12-31 | $1.28 Billion | +53.51% |
| 2020-12-31 | $834.21 Million | -1.25% |
| 2019-12-31 | $844.78 Million | +49.76% |
| 2018-12-31 | $564.08 Million | +1.55% |
| 2017-12-31 | $555.47 Million | +0.61% |
| 2016-12-31 | $552.10 Million | +210.56% |
| 2015-12-31 | $177.78 Million | -8.07% |
| 2014-12-31 | $193.38 Million | +8.78% |
| 2013-12-31 | $177.77 Million | +172.90% |
| 2012-12-31 | $65.14 Million | +17.76% |
| 2011-12-31 | $55.32 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ready Capital Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 49995453400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $17.00K | 0.00% |
| Other Comprehensive Income | $-18.55 Million | -1.01% |
| Other Components | $2.36 Billion | 128.49% |
| Total Equity | $1.84 Billion | 100.00% |
Ready Capital Corp Competitors by Market Cap
The table below lists competitors of Ready Capital Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tredegar Corporation
NYSE:TG
|
$269.14 Million |
|
Canada Nickel Company Inc
V:CNC
|
$269.15 Million |
|
Inflection Point Acquisition Corp. III Class A Ordinary Shares
NASDAQ:IPCX
|
$269.16 Million |
|
First of Long Island Corp
NASDAQ:FLIC
|
$269.21 Million |
|
Dentium
KO:145720
|
$269.13 Million |
|
Petron Malaysia Refining Marketing
KLSE:3042
|
$269.12 Million |
|
Hsin Tai Gas Co Ltd
TWO:8917
|
$269.03 Million |
|
Niagen Bioscience, Inc.
NASDAQ:NAGE
|
$268.95 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ready Capital Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,548,298,000 to 1,838,045,000, a change of -710,253,000 (-27.9%).
- Net loss of 435,755,000 reduced equity.
- Dividend payments of 206,057,000 reduced retained earnings.
- Share repurchases of 82,250,000 reduced equity.
- Other comprehensive income decreased equity by 692,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-435.75 Million | -23.71% |
| Dividends Paid | $206.06 Million | -11.21% |
| Share Repurchases | $82.25 Million | -4.47% |
| Other Comprehensive Income | $-692.00K | -0.04% |
| Other Changes | $14.50 Million | +0.79% |
| Total Change | $- | -27.87% |
Book Value vs Market Value Analysis
This analysis compares Ready Capital Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.15x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.03x to 0.15x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | $1.61 | $1.66 | x |
| 2013-12-31 | $5.55 | $1.66 | x |
| 2014-12-31 | $4.64 | $1.66 | x |
| 2015-12-31 | $5.11 | $1.66 | x |
| 2016-12-31 | $19.25 | $1.66 | x |
| 2017-12-31 | $17.09 | $1.66 | x |
| 2018-12-31 | $16.97 | $1.66 | x |
| 2019-12-31 | $19.63 | $1.66 | x |
| 2020-12-31 | $15.15 | $1.66 | x |
| 2021-12-31 | $18.59 | $1.66 | x |
| 2022-12-31 | $15.35 | $1.66 | x |
| 2023-12-31 | $17.15 | $1.66 | x |
| 2024-12-31 | $10.78 | $1.66 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ready Capital Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -23.71%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1593.02%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 5.52x
- Recent ROE (-23.71%) is below the historical average (9.13%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 44.19% | 81.42% | 0.12x | 4.48x | $15.40 Million |
| 2013 | 4.19% | 41.06% | 0.03x | 3.89x | $-9.25 Million |
| 2014 | 15.44% | 53.83% | 0.06x | 4.57x | $9.42 Million |
| 2015 | -0.79% | -2.17% | 0.07x | 4.87x | $-17.18 Million |
| 2016 | 9.58% | 39.35% | 0.05x | 5.08x | $-2.14 Million |
| 2017 | 8.08% | 28.33% | 0.06x | 4.71x | $-10.32 Million |
| 2018 | 10.88% | 37.44% | 0.05x | 5.57x | $4.77 Million |
| 2019 | 8.84% | 49.94% | 0.03x | 6.03x | $-9.57 Million |
| 2020 | 5.50% | 16.61% | 0.05x | 6.59x | $-36.67 Million |
| 2021 | 12.36% | 41.15% | 0.04x | 7.47x | $30.13 Million |
| 2022 | 10.80% | 50.68% | 0.03x | 6.46x | $14.32 Million |
| 2023 | 13.32% | 87.05% | 0.03x | 4.88x | $84.62 Million |
| 2024 | -23.71% | -1593.02% | 0.00x | 5.52x | $-619.56 Million |
Industry Comparison
This section compares Ready Capital Corp's net assets metrics with peer companies in the REIT - Mortgage industry.
Industry Context
- Industry: REIT - Mortgage
- Average net assets among peers: $2,048,291,399
- Average return on equity (ROE) among peers: 2.88%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ready Capital Corp (RC) | $1.88 Billion | 44.19% | 3.44x | $269.13 Million |
| Arbor Realty Trust (ABR) | $3.07 Billion | 4.85% | 3.73x | $981.04 Million |
| Acres Commercial Realty Corp (ACR) | $448.19 Million | 7.57% | 4.10x | $120.21 Million |
| Ares Commercial Real Estate (ACRE) | $480.89 Million | 5.07% | 2.88x | $255.77 Million |
| New York Mortgage Trust, Inc. (ADAM) | $1.43 Billion | 10.42% | 7.84x | $793.47 Million |
| AFC Gamma Inc (AFCG) | $175.57 Million | -11.78% | 0.57x | $61.88 Million |
| AGNC Investment Corp. (AGNC) | $9.91 Billion | 1.30% | 10.03x | $11.82 Billion |
| Angel Oak Mortgage Inc (AOMR) | $248.31 Million | 0.30% | 1.05x | $210.78 Million |
| Apollo Commercial Real Estate Finance Inc (ARI) | $2.35 Billion | 11.26% | 3.06x | $1.42 Billion |
| ARMOUR Residential REIT Inc (ARR) | $1.33 Billion | 12.46% | 5.73x | $2.07 Billion |
| Brightspire Capital Inc (BRSP) | $1.05 Billion | -12.62% | 2.56x | $710.02 Million |
About Ready Capital Corp
Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The LMM Commercial Real Estate segment originates LLM loans across the full life-cycle of an LLM property, including construction, bridge, stabilized, and agency loan origination channels. The Small Business Lending segm… Read more