A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
STARWOOD PROPERTY TRUST, INC.
STWD
$5.9B
Mkt Cap
$16.52
+1.16%
STARWOOD PROPERTY TRUST, INC. (STWD) has a current P/E ratio of 14.4, compared to its historical median P/E of 9.1. The stock is currently considered Expensive based on its historical valuation range.
STARWOOD PROPERTY TRUST, INC. (STWD) has a 5-year average return on invested capital (ROIC) of 9.3%. This is below average and may indicate limited pricing power.
STARWOOD PROPERTY TRUST, INC. (STWD) has a market capitalization of $6.1B. It is classified as a mid-cap stock.
Yes, STARWOOD PROPERTY TRUST, INC. (STWD) pays a dividend with a trailing twelve-month yield of 11.18%.
Based on historical P/E analysis, STARWOOD PROPERTY TRUST, INC. (STWD) appears expensive. The current P/E of 14.4 is 57% above its historical median of 9.1. The estimated fair value CAGR (P/E method) is -3.6%.
STARWOOD PROPERTY TRUST, INC. (STWD) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
STARWOOD PROPERTY TRUST, INC. (STWD) reported annual revenue of $1.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
Starwood Property Trust is a Maryland-incorporated REIT that originates, acquires, finances and manages a diversified portfolio of real estate debt and equity investments across the United States, Europe and Australia. The company operates through four reportable segments: Commercial and Residential Lending, which focuses on originating and acquiring commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, and mortgage-backed securities; Infrastructure Lending, which originates and manages infrastructure debt investments; Real Estate Property, which acquires and manages equity interests in stabilized commercial real estate including multifamily properties, medical office net lease properties and triple net lease properties; and Real Estate Investing and Servicing, which includes a U.S. servicing business managing problem assets, a CMBS investment business, a mortgage loan origination business for securitization, and a commercial real estate acquisition business. The company is externally managed by SPT Management, LLC, an affiliate of Starwood Capital Group, and is organized to qualify as a REIT, distributing at least 90% of taxable income to shareholders. The business model emphasizes sourcing and managing diversified target assets financed to deliver attractive risk-adjusted returns across market cycles, with a focus on originating and acquiring real estate debt with attractive risk-return profiles while maintaining conservative leverage and operational flexibility.
【Earnings recovery and accretion ahead】 Management expects distributable earnings to improve steadily throughout 2026 as unfunded commitments from 2025 investments are deployed and the recently acquired net lease business (Fundamental Income) scales and optimizes its capital structure. The company anticipates the net lease business, which was dilutive in 2025, to turn break-even in early 2026 and accretive thereafter, with the potential to exceed dividend coverage on a recurring basis by late 2026. Commercial real estate lending is expected to maintain elevated origination momentum, with the loan portfolio projected to reach record levels in the first quarter of 2026, supported by improving market conditions, lower forward rate expectations, and continued strong pipeline activity. The company plans to resolve approximately $900 million of non-accrual and REO assets by year-end 2026 and an additional $500 million in 2027, which management expects will materially improve earnings as these assets are stabilized and exited.
| Metric | Target | Period |
|---|---|---|
| Non-accrual and REO asset resolutions | $900 million by end of 2026; $500 million in 2027 | 2026 and 2027 |
| Unfunded commitments to be deployed | $1.9 billion | 2026 |
Non-accrual and REO asset resolutions (2026 and 2027): “We're expecting $900 million by the end of the year in our, in our plans, and then another $500 million next year in our base plan.”
Unfunded commitments to be deployed (2026): “the funding of $1.9 billion of unfunded commitments Rina mentioned”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.8B | 1.9B | 2.0B | 1.5B | 1.2B |
| Net Income | 351M | 412M | 360M | 339M | 871M | 448M |
| EPS | $0.98 | $1.15 | $1.10 | $1.07 | $2.74 | $1.52 |
| Free Cash Flow | 0 | 99M | 647M | 529M | 214M | -990M |
| ROIC | 3.7% | 9.3% | 12.7% | 11.0% | 7.5% | 6.2% |
| Gross Margin | - | 83.7% | 77.7% | 76.5% | 79.5% | 68.2% |
| Debt/Equity | 0.43 | 2.16 | 1.12 | 1.05 | 2.09 | 2.87 |
| Dividends/Share | $1.85 | $1.92 | $1.92 | $1.92 | $1.92 | $1.92 |
| Operating Income | 22M | 1.7B | 1.7B | 1.8B | 1.6B | 901M |
| Operating Margin | 1.1% | 93.5% | 89.1% | 86.6% | - | 77.0% |
| ROE | 5.3% | 6.2% | 5.7% | 5.3% | 13.9% | 8.5% |
| Shares Outstanding | 371M | 358M | 327M | 317M | 318M | 295M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 703M | 736M | 785M | 880M | 1.1B | 1.2B | 1.1B | 1.2B | 1.5B | 2.0B | 1.9B | 1.8B | 1.9B |
| Gross Margin | 78.2% | 75.7% | 65.9% | 64.8% | 60.9% | 69.4% | 66.0% | 68.2% | 79.5% | 76.5% | 77.7% | 83.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 170M | 155M | 153M | 130M | 136M | 155M | 158M | 171M | 176M | 180M | 199M | 209M | 219M |
| EBIT | 219M | 200M | 134M | 145M | 809M | 1.0B | 772M | 901M | 1.6B | 1.8B | 1.7B | 1.7B | 22M |
| Op. Margin | 31.1% | 27.1% | 17.0% | 16.4% | 73.0% | 86.2% | 67.9% | 77.0% | N/A | 86.6% | 89.1% | 93.5% | 1.1% |
| Net Income | 489M | 447M | 363M | 401M | 386M | 510M | 332M | 448M | 871M | 339M | 360M | 412M | 351M |
| Net Margin | 69.6% | 60.8% | 46.3% | 45.5% | 34.8% | 42.6% | 29.2% | 38.3% | 59.5% | 16.5% | 18.5% | 22.3% | 18.1% |
| Non-Recurring | 1.8M | 12K | 728K | 1.0M | 361K | 1.2M | 0 | 0 | 47K | 125M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 2.6% | 3.0% | 1.8% | 1.6% | 10.7% | 18.7% | 13.5% | 6.2% | 7.5% | 11.0% | 12.7% | 9.3% | 3.7% |
| ROE | 12.0% | 11.2% | 8.4% | 8.9% | 8.5% | 11.0% | 7.2% | 8.5% | 13.9% | 5.3% | 5.7% | 6.2% | 5.3% |
| ROA | 0.4% | 0.4% | 0.4% | 0.6% | 0.6% | 0.7% | 0.4% | 0.5% | 1.1% | 0.5% | 0.5% | 0.7% | 0.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 221M | 606M | 557M | -247M | 585M | -13M | 1.0B | -990M | 214M | 529M | 647M | 978M | 833M |
| Free Cash Flow | 221M | 606M | 557M | -247M | 585M | -13M | 1.0B | -990M | 214M | 529M | 647M | 99M | 0 |
| Owner Earnings | 175M | 545M | 457M | -359M | 430M | -163M | 920M | -1.1B | 124M | 440M | 563M | 845M | 677M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 878M | 0 |
| Maint. CapEx | 17M | 29M | 67M | 94M | 133M | 113M | 94M | 83M | 49M | 49M | 41M | 79M | 101M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 800M | 0 |
| D&A | 17M | 29M | 67M | 94M | 133M | 113M | 94M | 83M | 49M | 49M | 41M | 79M | 101M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 89.8% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 402M | 447M | 458M | 502M | 510M | 538M | 547M | 554M | 591M | 601M | 620M | 669M | 685M |
| Dividend Yield | 23.0% | 23.0% | 22.6% | 19.4% | 18.1% | 15.5% | 19.4% | 11.9% | 11.8% | 12.7% | 11.2% | 10.3% | 11.2% |
| Share Buybacks | 13M | 49M | 20M | 0 | 12M | 0 | 34M | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.7% | 2.5% | 0.9% | N/A | 0.4% | N/A | 1.0% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 29M | 32M | 33M | 18M | 23M | 36M | 31M | 39M | 40M | 39M | 42M | 54M | 55M |
| Debt Repayment | 3.4B | 4.3B | 5.3B | 4.6B | 6.4B | 8.7B | 6.1B | 11.9B | 9.9B | 7.5B | 9.2B | 11.4B | 11.4B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.9B | 2.9B | 2.7B | 4.7B | 853M | 640M | 1.0B | 17.1B | 13.1B | 6.3B | 6.7B | 14.2B | 2.5B |
| Cash & Equiv. | 255M | 369M | 616M | 369M | 240M | 478M | 563M | 217M | 261M | 195M | 378M | 499M | 377M |
| Long-Term Debt | 1.4B | 1.3B | 2.0B | 2.1B | 2.0B | 1.9B | 1.7B | 17.4B | 13.5B | 6.6B | 7.2B | 14.7B | 2.9B |
| Debt/Equity | 0.81 | 0.96 | 0.92 | 1.29 | 0.43 | 0.41 | 0.39 | 2.87 | 2.09 | 1.05 | 1.12 | 2.16 | 0.43 |
| Interest Coverage | 1.4 | 1.0 | 0.6 | 0.5 | 2.0 | 2.0 | 1.8 | 2.0 | 2.0 | 1.2 | 1.3 | 1.4 | 0.6 |
| Equity | 3.9B | 4.1B | 4.5B | 4.5B | 4.6B | 4.7B | 4.5B | 6.1B | 6.5B | 6.3B | 6.4B | 6.8B | 6.7B |
| Total Assets | 116.1B | 85.7B | 77.3B | 62.9B | 68.3B | 78.0B | 80.9B | 83.9B | 79.0B | 69.5B | 62.6B | 63.2B | 62.1B |
| Total Liabilities | 112.2B | 81.5B | 72.7B | 58.4B | 63.4B | 72.9B | 76.0B | 77.2B | 71.8B | 62.5B | 55.4B | 55.7B | 54.7B |
| Intangibles | 144M | 202M | 219M | 183M | 145M | 86M | 70M | 64M | 69M | 65M | 61M | 436M | 427M |
| Retained Earnings | -9.4M | -12M | -116M | -217M | -349M | -382M | -630M | 493M | 769M | 506M | 235M | -39M | -166M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 2.24 | 1.91 | 1.50 | 1.52 | 1.42 | 1.79 | 1.16 | 1.52 | 2.74 | 1.07 | 1.10 | 1.15 | 0.98 |
| Owner EPS | 0.80 | 2.33 | 1.89 | -1.36 | 1.58 | -0.57 | 3.22 | -3.78 | 0.39 | 1.39 | 1.72 | 2.36 | 1.82 |
| Book Value | 17.67 | 17.68 | 18.68 | 16.99 | 16.94 | 16.51 | 15.70 | 20.62 | 20.32 | 19.72 | 19.67 | 18.99 | 17.98 |
| Cash Flow/Share | 1.01 | 2.59 | 2.30 | -0.94 | 2.15 | -0.05 | 3.66 | -3.36 | 0.67 | 1.67 | 1.98 | 2.73 | 1.22 |
| Dividends/Share | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.92 | 1.85 |
| Shares Out. | 218.5M | 234.2M | 242.1M | 263.7M | 271.7M | 284.7M | 285.9M | 294.6M | 318.1M | 317.0M | 327.2M | 357.9M | 370.7M |
| Valuation | |||||||||||||
| P/E Ratio | 3.7 | 4.2 | 6.2 | 6.6 | 7.2 | 7.7 | 10.5 | 10.9 | 4.9 | 16.4 | 15.5 | 15.7 | 16.9 |
| P/FCF | 8.2 | 3.1 | 4.1 | N/A | 4.7 | N/A | 3.3 | N/A | 20.1 | 10.5 | 8.6 | 65.1 | N/A |
| EV/EBIT | 17.0 | 24.1 | 37.4 | 10.1 | 4.5 | 4.4 | 5.3 | 6.9 | 3.8 | 4.1 | 416.4 | 436.4 | 388.8 |
| Price/Book | 0.5 | 0.5 | 0.5 | 0.6 | 0.6 | 0.8 | 0.8 | 0.8 | 0.7 | 0.9 | 0.9 | 1.0 | 0.9 |
| Price/Sales | 2.5 | 2.7 | 2.6 | 2.9 | 2.5 | 2.9 | 2.5 | 4.0 | 3.4 | 2.3 | 2.8 | 3.5 | 3.2 |
| FCF Yield | 12.0% | 31.6% | 24.5% | -9.4% | 21.1% | -0.3% | 30.0% | -20.4% | 5.0% | 9.5% | 11.6% | 1.5% | N/A |
| Market Cap | 1.8B | 1.9B | 2.3B | 2.6B | 2.8B | 3.9B | 3.5B | 4.9B | 4.3B | 5.6B | 5.6B | 6.5B | 6.1B |
| Avg. Price | 7.98 | 8.30 | 8.39 | 9.80 | 10.39 | 12.22 | 9.86 | 15.82 | 15.72 | 14.90 | 16.95 | 18.23 | 16.52 |
| Year-End Price | 8.29 | 8.12 | 9.32 | 10.00 | 10.20 | 13.85 | 12.20 | 16.50 | 13.51 | 17.51 | 17.05 | 18.06 | 16.52 |
STARWOOD PROPERTY TRUST, INC. passes 2 of 9 quality checks, indicating weak fundamentals.
STARWOOD PROPERTY TRUST, INC. trades at 14.4x trailing earnings, compared to its 15-year median P/E of 9.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 59.5x vs a median of 8.6x. The company's 5-year average ROIC is 9.3% with a gross margin of 77.1%. Total shareholder yield (dividends) is 11.2%. At current prices, the estimated annualized return to fair value is -0.2%.
STARWOOD PROPERTY TRUST, INC. (STWD) has a net profit margin of 22.3%. This is a strong margin indicating high profitability.
STARWOOD PROPERTY TRUST, INC. (STWD) generated $99 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
STARWOOD PROPERTY TRUST, INC. (STWD) has a debt-to-equity ratio of 2.16. This indicates higher leverage, which may increase financial risk.
STARWOOD PROPERTY TRUST, INC. (STWD) reported earnings per share (EPS) of $1.15 in its most recent fiscal year.
STARWOOD PROPERTY TRUST, INC. (STWD) has a return on equity (ROE) of 6.2%. This indicates moderate shareholder returns.
STARWOOD PROPERTY TRUST, INC. (STWD) has a 5-year average gross margin of 77.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for STARWOOD PROPERTY TRUST, INC. (STWD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
STARWOOD PROPERTY TRUST, INC. (STWD) has a book value per share of $18.99, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects distributable earnings to improve steadily throughout 2026 as unfunded commitments from 2025 investments are deployed and the recently acquired net lease business (Fundamental Income) scales and optimizes its capital structure. The company anticipates the net lease business, which was dilutive in 2025, to turn break-even in early 2026 and accretive thereafter, with the potential to exceed dividend coverage on a recurring basis by late 2026. Commercial real estate lending is expected to maintain elevated origination momentum, with the loan portfolio projected to reach record levels in the first quarter of 2026, supported by improving market conditions, lower forward rate expectations, and continued strong pipeline activity. The company plans to resolve approximately $900 million of non-accrual and REO assets by year-end 2026 and an additional $500 million in 2027, which management expects will materially improve earnings as these assets are stabilized and exited.
Based on recent SEC filings and earnings calls, STARWOOD PROPERTY TRUST, INC. (STWD) has provided the following forward guidance: Non-accrual and REO asset resolutions: $900 million by end of 2026; $500 million in 2027 (2026 and 2027); Unfunded commitments to be deployed: $1.9 billion (2026).
No recent press releases.