Starwood Property Trust, Inc. (STWD)

Starwood Property Trust Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	384.41	443.09	380.58	418.16	1,059	492.43
Depreciation & Amortization	168.35	143.41	106.03	114.13	110.39	134.87
Provision for Credit Losses	43.99	19.37	197.4	243.73	46.66	8.34
Stock-Based Compensation	61.6	65.58	62.85	54.57	83.33	56.33
Net Change in Loans Held-for-Sale	234.19	361.81	202.89	199.73	-284.45	-1,341
Other Adjustments	105.18	82.75	-255.62	-265.74	-780.04	-253.61
Changes in Accrued Interest and Accounts Receivable	-158.15	-103.84	-70.42	-155.83	-201.5	-136.77
Changes in Accounts Payable	-57.67	-50.16	104.99	-17.99	171.37	40.7
Changes in Other Operating Activities	23.87	15.85	-82.11	-62.15	8.93	8.76
Operating Cash Flow	832.55	977.85	646.59	528.6	213.74	-989.98
Operating Cash Flow Growth	0.37%	51.23%	22.32%	147.31%	-	-
Net Change in Loans Held-for-Investment	-3,101	-3,047	1,670	714.95	-3,346	-4,268
Net Change in Securities and Investments	174.22	231.99	189.14	81.81	29.44	-110.91
Payments for Business Acquisitions	-	-878.49	-	-	-	-
Capital Expenditures	-412.64	-269.04	-27.94	-25.09	-25.23	-26.27
Sale of Property, Plant & Equipment	162.98	100.94	216.83	73.57	203.7	98.21
Other Investing Activities	45.86	84.86	35.67	9.83	187.33	25.35
Investing Cash Flow	-3,860	-3,776	2,084	855.07	-2,950	-4,282
Long-Term Debt Issued	14,804	14,667	7,217	6,560	13,521	17,506
Long-Term Debt Repaid	-11,589	-11,596	-9,431	-7,522	-10,178	-12,697
Net Long-Term Debt Issued (Repaid)	3,215	3,072	-2,214	-962.38	3,343	4,810
Issuance of Common Stock	568.06	567.81	395.49	3	50.44	394.09
Repurchase of Common Stock	-19.94	-	-	-	-	-
Net Common Stock Issued (Repurchased)	548.13	567.81	395.49	3	50.44	394.09
Common Dividends Paid	-684.77	-668.86	-620	-601.19	-591.46	-553.93
Other Financing Activities	-77.19	-51.16	-47.82	106.01	-3.94	223.29
Financing Cash Flow	3,001	2,920	-2,486	-1,455	2,798	4,873
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0.65	-0.31	-2.62	0.73	-1.1	-1.72
Net Cash Flow	-25.64	120.96	244.64	-70.89	61.31	-398.53
Free Cash Flow	419.91	708.81	618.65	503.51	188.52	-1,016
Free Cash Flow Growth	-40.76%	14.57%	22.87%	167.09%	-	-
FCF Margin	46.47%	75.84%	72.79%	60.05%	13.19%	-96.64%
Free Cash Flow Per Share	1.17	2.03	1.93	1.62	0.60	-3.42
Levered Free Cash Flow	3,130	3,220	-1,823	-770.09	4,278	5,279
Unlevered Free Cash Flow	-436.24	-263.79	30.55	-146.93	63.96	21.28

Updated May 8, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q