Starwood Property Trust, Inc. income statement
In fiscal 2025, Starwood Property Trust, Inc. reported revenue of $1.84bn, down 5.3% on the year before and net income of $412m, or $1.15 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 206 | 307 | 549 | 703 | 736 | 785 | 880 | 1,109 | 1,196 | 1,136 | 1,170 | 1,465 | 2,050 | 1,947 | 1,844 | 2,008 |
| General and administrative | 9 | 12 | 150 | 170 | 155 | 153 | 130 | 136 | 155 | 158 | 171 | 176 | 180 | 199 | 209 | 225 |
| Operating income | 126 | 186 | 176 | 219 | 200 | 134 | 145 | — | — | — | — | — | — | — | — | — |
| Interest expense | 29 | 47 | 112 | 161 | 203 | 231 | 296 | 408 | 509 | 420 | 445 | 797 | 1,436 | — | — | — |
| Net interest income | 176 | 260 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Provision for credit losses | — | 2 | 2 | 2 | −0 | 4 | −5 | −3 | 4 | 46 | 5 | 49 | 233 | 165 | 10 | 28 |
| Income before tax | 121 | 207 | 354 | 526 | 469 | 376 | 444 | 427 | 550 | 386 | 501 | 998 | 417 | 406 | 480 | 299 |
| Income tax | 1 | 1 | 24 | 24 | 17 | 8 | 32 | 15 | 13 | 20 | 9 | −62 | −1 | 25 | 37 | 35 |
| Net income | 119 | 201 | 305 | 495 | 451 | 365 | 401 | 386 | 510 | 332 | 448 | 871 | 339 | 360 | 412 | 228 |
| Diluted EPS | $1.38 | $1.76 | $1.82 | $2.24 | $1.91 | $1.50 | $1.52 | $1.42 | $1.79 | $1.16 | $1.52 | $2.74 | $1.07 | $1.10 | $1.15 | $0.62 |
| Diluted shares (average) | 86m | 114m | 166m | 219m | 234m | 242m | 262m | 288m | 290m | 282m | 297m | 316m | 311m | 321m | 350m | 365m |
| EBITDA | — | 186 | 186 | 235 | 229 | 200 | 238 | — | — | — | — | — | — | — | — | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 480 | 454 | 418 | 444 | 489 | 493 | 512 | 514 |
| General and administrative | 48 | 49 | 48 | 51 | 52 | 58 | 58 | 57 |
| Interest expense | 338 | — | — | — | — | — | — | — |
| Provision for credit losses | 51 | 58 | −20 | 6 | 17 | 7 | −18 | 22 |
| Income before tax | 83 | 69 | 120 | 135 | 93 | 131 | 53 | 21 |
| Income tax | 10 | −2 | 4 | 1 | 13 | 19 | −4 | 6 |
| Net income | 76 | 52 | 112 | 130 | 73 | 97 | 52 | 7 |
| Diluted EPS | $0.23 | $0.14 | $0.33 | $0.38 | $0.19 | $0.26 | $0.13 | $0.01 |
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