Starwood Property Trust, Inc. (STWD)

Starwood Property Trust Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	227.91	411.54	359.93	339.21	871.48	447.74
Depreciation & Amortization	132.92	84.83	46.26	54.3	53.94	84.59
Other Amortization	63.3	58.57	59.78	59.83	56.44	50.28
Loss (Gain) From Sale of Investments	311.55	442.98	-182.76	-191.77	-1,172	-162.71
Asset Writedown & Restructuring Costs	26.77	26.77	-	124.9	0.06	-
Provision for Credit Losses	-14.95	-165.07	121.52	181.03	392.88	-60.72
Loss (Gain) on Equity Investments	-6.47	-3.69	-8.06	-7.88	11.68	-4.04
Stock-Based Compensation	59.25	65.58	62.85	54.57	83.33	56.33
Net Decrease (Increase) in Loans Originated / Sold - Operating	361.92	361.81	202.89	199.73	-284.45	-1,341
Change in Accounts Payable	88.92	-50.16	104.99	-17.99	171.37	40.7
Change in Other Net Operating Assets	25.65	15.85	-82.11	-62.15	8.93	8.76
Other Operating Activities	-17.39	-167.32	31.73	-49.36	221.96	26.88
Operating Cash Flow	1,091	977.85	646.59	528.6	213.74	-989.98
Operating Cash Flow Growth	58.31%	51.23%	22.32%	147.31%	-	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-609.47	-269.04	-27.94	-25.09	-25.23	-26.27
Cash Acquisitions	0.73	0.73	4.4	0.82	0.62	-
Investment in Securities	74.83	301.74	188.22	90.19	32.35	-109.87
Net Decrease (Increase) in Loans Originated / Sold - Investing	-2,010	-3,047	1,670	714.95	-3,346	-4,268
Other Investing Activities	-873.19	-864.13	32.2	0.63	183.8	24.31
Investing Cash Flow	-3,288	-3,776	2,084	855.07	-2,950	-4,282

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	14,667	7,217	6,560	13,521	17,506
Long-Term Debt Repaid	-	-11,596	-9,431	-7,522	-10,178	-12,697
Net Debt Issued (Repaid)	2,633	3,072	-2,214	-962.38	3,343	4,810
Issuance of Common Stock	536.96	567.81	395.49	3	50.44	394.09
Repurchase of Common Stock	-29.94	-	-	-	-	-
Common Dividends Paid	-699.82	-668.86	-620	-601.19	-591.46	-553.93
Other Financing Activities	-76.79	-51.16	-47.82	106.01	-3.94	223.29
Financing Cash Flow	2,363	2,920	-2,486	-1,455	2,798	4,873

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-0.16	-0.31	-2.62	0.73	-1.1	-1.72
Net Cash Flow	165.49	120.65	242.02	-70.16	60.22	-400.25

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	481.1	708.81	618.65	503.51	188.52	-1,016
Free Cash Flow Growth	-27.15%	14.57%	22.87%	167.09%	-	-
Free Cash Flow Margin	80.55%	129.36%	154.37%	136.06%	30.35%	-141.69%
Free Cash Flow Per Share	1.32	2.02	1.93	1.62	0.60	-3.42

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	1,237	1,189	1,294	1,352	671.19	386.92
Cash Income Tax Paid	5.74	0.7	4.01	1.67	-7.86	7.79

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: May 8, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 30, 2026

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