Starwood Property Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest and Dividend Income	1,553	1,765	1,881	1,284	845.46
Total Interest Expense	1,277	1,349	1,436	796.86	444.5
Net Interest Income	275.98	416.18	444.52	486.72	400.96
Commissions and Fees	86.54	55.2	33.12	40.36	38.74
Other Revenue	204.78	126.77	136.16	140.78	285.89
Revenue Before Loan Losses	567.3	598.15	613.8	667.86	725.59
Provision for Loan Losses	19.37	197.4	243.73	46.66	8.34
Revenue	547.93	400.75	370.07	621.2	717.26
Revenue Growth (YoY)	36.73%	8.29%	-40.43%	-13.39%	6.58%
Salaries & Employee Benefits	60.97	59.45	52.95	65.09	74.42
Cost of Services Provided	345.91	333.2	313.65	310.08	377.51
Other Operating Expenses	-5.89	-3.01	-1.59	-1.01	-3.58
Total Operating Expenses	479.97	430.95	414.14	423.45	531.35
Operating Income	67.97	-30.2	-44.07	197.75	185.91
Earnings From Equity Investments	169.31	88.8	198.41	117.68	171.09
Currency Exchange Gain (Loss)	112.94	-73.93	60.83	-96.96	-36.29
EBT Excluding Unusual Items	259.36	232.35	454.42	1,210	400.88
Gain (Loss) on Sale of Investments	45.1	101.72	26.5	135.41	38.6
Other Unusual Items	17.68	-3.94	-1.24	-1.19	-7.43
Pretax Income	479.81	406.01	417.48	997.54	501.1
Income Tax Expense	36.72	25.43	-0.68	-61.52	8.67
Earnings From Continuing Ops.	443.09	380.58	418.16	1,059	492.43
Minority Interest in Earnings	-31.55	-20.64	-78.94	-187.59	-44.69
Net Income	411.54	359.93	339.21	871.48	447.74
Preferred Dividends & Other Adjustments	9.19	7.2	6.41	17.11	6.81
Net Income to Common	402.36	352.73	332.8	854.36	440.93
Net Income Growth	14.34%	6.11%	-61.08%	94.64%	34.99%
Shares Outstanding (Basic)	350	320	310	306	286
Shares Outstanding (Diluted)	350	321	311	316	297
Shares Change (YoY)	9.18%	3.24%	-1.65%	6.37%	5.08%
EPS (Basic)	1.15	1.10	1.07	2.80	1.54
EPS (Diluted)	1.15	1.10	1.07	2.74	1.52
EPS Growth	4.54%	2.80%	-61.00%	79.97%	31.92%
Free Cash Flow	708.81	618.65	503.51	188.52	-1,016
Free Cash Flow Per Share	2.02	1.93	1.62	0.60	-3.42
Dividend Per Share	1.920	1.920	1.920	1.920	1.920
Operating Margin	12.40%	-7.54%	-11.91%	31.83%	25.92%
Profit Margin	73.43%	88.02%	89.93%	137.53%	61.48%
Free Cash Flow Margin	129.36%	154.37%	136.06%	30.35%	-141.69%
Effective Tax Rate	7.65%	6.26%	-	-	1.73%
Revenue as Reported	1,844	1,947	2,050	1,465	1,170

Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.