A Business at a Glance
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The following description of our business should be read in conjunction with the information included elsewhere in this Form 10‑K for the year ended December 31, 2025. This discussion contains forward‑looking statements that involve risks and uncertainties. Actual results could differ significantly from the results discussed in the forward‑looking statements due to the factors set forth in “Risk Factors” and elsewhere in this Form 10‑K. References in this Form 10‑K to “we,” “our,” “us,” or the “Company” refer to Starwood Property Trust, Inc. and its subsidiaries. Starwood Property Trust, Inc. (“STWD” and, together with its subsidiaries, “we” or the “Company”) is a Maryland corporation that commenced operations in August 2009, upon the completion of our initial public offering (“IPO”). We are focused primarily on originating, acquiring, financing and managing mortgage loans and other real estate investments in the United States (“U.S.”), Europe and Australia.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.8B | 1.8B | 1.9B | 2.0B | 1.5B | 1.2B |
| Net Income | 412M | 412M | 360M | 339M | 871M | 448M |
| EPS | $1.15 | $1.15 | $1.10 | $1.07 | $2.74 | $1.52 |
| Free Cash Flow | 99M | 99M | 647M | 529M | 214M | -990M |
| ROIC | 7.6% | 9.3% | 12.7% | 11.0% | 7.5% | 6.2% |
| Gross Margin | 83.7% | 83.7% | 77.7% | 76.5% | 79.5% | 68.2% |
| Debt/Equity | 2.16 | 2.16 | 1.12 | 1.05 | 2.09 | 2.87 |
| Dividends/Share | $1.87 | $1.92 | $1.92 | $1.92 | $1.92 | $1.92 |
| Operating Income | 1.7B | 1.7B | 1.7B | 1.8B | 1.6B | 901M |
| Operating Margin | 93.5% | 93.5% | 89.1% | 86.6% | 109.7% | 77.0% |
| ROE | 6.1% | 6.2% | 5.7% | 5.3% | 13.9% | 8.5% |
| Shares Outstanding | 358M | 358M | 327M | 317M | 318M | 295M |
STARWOOD PROPERTY TRUST, INC. passes 2 of 9 quality checks, indicating weak fundamentals.
STARWOOD PROPERTY TRUST, INC. trades at 15.7x 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 64.9x 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 10.4%. At current prices, the estimated annualized return to fair value is +0.7%.
STARWOOD PROPERTY TRUST, INC. (STWD) has a current P/E ratio of 15.7, 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 $6.4B. It is classified as a mid-cap stock.
Yes, STARWOOD PROPERTY TRUST, INC. (STWD) pays a dividend with a trailing twelve-month yield of 10.37%.
Based on historical P/E analysis, STARWOOD PROPERTY TRUST, INC. (STWD) appears expensive. The current P/E of 15.7 is 72% above its historical median of 9.1. The estimated fair value CAGR (P/E method) is -3.8%.
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, 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.