Ellington Financial Inc. (EFC) Stock

Ellington Financial Inc. (EFC) is a Real Estate stock trading at $13.64 (as of 2026-08-21), with a market capitalization of $1.76B and a trailing P/E of 9.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Ellington Financial Inc., through its subsidiary Ellington Financial Operating Partnership LLC, acquires and manages a range of financial assets in the United States, including residential and commercial mortgage-backed securities and mortgage loans, as well as other related debt and investments. Its portfolio can also include collateralized loan obligations, mortgage and non-mortgage derivatives, corporate debt and equity securities, consumer loans, and asset-backed securities.

Understand Ellington Financial Inc.: how it makes money

Ellington Financial acquires and manages mortgage-related and other financial assets in the United States, including residential mortgage-backed securities and residential and commercial mortgage loans, and it makes money through the cash flows and value changes from these mortgage assets (including through securitizations, principal paydowns, and loan activity).

The profit engine is the ability to originate and/or hold mortgage assets whose economics then flow through securitizations and portfolio cash movements, including principal paydowns and loan prepayments.

Revenue by segment (latest quarter)
Longbridge	$0.1B
Other/Unspecified	$0.0B

Business quality (Solid): High signal on the operating mechanics (originations, securitizations, paydowns, and prepayments). Segment disclosure in the provided data is incomplete, so only one segment contributor (Longbridge) is explicitly identified.

Valuation: At 8× earnings, EFC trades 76% below the Real Estate average (34×). Note: one-time items can distort reported P/E.

Bull case

Ongoing origination activity: Longbridge New Loan Origination Volume indicates the company is continuing to generate new mortgage loan activity that can feed its mortgage asset strategy.
Portfolio cash flow visibility: Principal Paydowns Received from Residential Transition, Commercial Bridge, and Consumer Loan Portfolios suggests cash inflows from asset amortization and runoff.

Bear case

Prepayment risk can change cash flows: Loan Prepayments can alter the timing and amount of cash flows coming from mortgage assets, which can affect earnings power.
Non-qualified mortgage securitizations are a moving target: Dependence on Non-Qualified Mortgage Securitizations Unpaid Principal Value and securitization-related activity means results can be sensitive to how those assets perform and how they are financed.
Funding and leverage exposure: Five-Year Senior Unsecured Notes Issued metrics suggest the strategy may rely on external financing at points in time, which can be a risk if market conditions change.

Valuation — source: SEC EDGAR (first-party)
Price	$13.64
Market Cap	$1.76B
P/E Ratio	9.0
EV / EBITDA	8.6
Price / Book	0.88
Price / Sales	2.19
Dividend Yield	11.7%
DCF Value (model)	$47.18
DCF Upside vs Price	245.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$494.49M
Net Margin	24.0%
Return on Equity	9.7%
Revenue Growth (YoY)	18.9%
EPS Growth (YoY)	-12.5%

Valuation vs Sector & Industry
Stock P/E	9.0
Sector P/E (Real Estate)	27.2
Industry P/E (Real Estate)	29.6
vs Sector	-66.7%
vs Industry	-69.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($233.46M)
Institutional Holders Tracked	10
Congressional Trades (recent)	4

Company
Sector	Real Estate
Industry	Real Estate
CEO	Laurence Eric Penn
Employees	400
Country	US
IPO Date	2010-10-08

Related Companies (Real Estate; 8 comparable real estate companies)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.