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Ready Capital Corporation Balance Sheet 2025-2011 | RCB
Brief overview of Ready Capital Corporation's balance sheet structure
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
The asset base decreased -18.5%, from $9.5 billion to $7.8 billion. Resources became smaller over the five periods.
Asset and liability trends were close, at -18.5% and -25.8%. Expansion did not materially reshape funding sources.
Equity covers only 19.9% of assets versus 13.4% initially. The loss-absorbing cushion is limited.
Each unit of equity supports about 0.76x of net debt. The level is not critical, though flexibility is narrower.
Cash represents 2.7% of assets versus 2% initially, showing how the immediate liquidity reserve changed.
The accumulated result is -$807.5 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Overall assessment
Ready Capital Corporation's balance sheet looks stretched: reliance on liabilities and a limited capital cushion increase sensitivity to weaker results.
Annual Balance Sheet Ready Capital Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
1.17 B | 1.19 B | 972 M | 973 M | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt |
1.38 B | 1.33 B | 1.11 B | 1.12 B | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
6.12 B | 8.2 B | 9.79 B | 9.72 B | 8.25 B | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-808 M | -505 M | 124 M | 4.99 M | 8.6 M | - | - | - | - | - | - | - | - | - | - |
Total Assets |
7.77 B | 10.1 B | 12.4 B | 11.6 B | 9.53 B | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
208 M | 144 M | 139 M | 147 M | 193 M | 139 M | 67.9 M | 54.4 M | 63.4 M | 59.6 M | 41.6 M | 56.7 M | 57.1 M | 19.1 M | 6.33 M |
Book Value |
1.65 B | 1.94 B | 2.65 B | 1.9 B | 1.29 B | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
1.54 B | 1.84 B | 2.54 B | 1.79 B | 1.28 B | 834 M | 825 M | 545 M | 536 M | 513 M | 441 M | 173 M | 159 M | 65.1 M | 55.3 M |
All numbers in USD currency
Quarterly Balance Sheet Ready Capital Corporation
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
1.26 B | 1.39 B | 1.39 B | 1.49 B | - | 1.21 B | 1.18 B | - | - | 1.11 B | 1.22 B | 1.12 B | - | 1.12 B | - | 902 M | 897 M | 627 M | 626 M | 625 M | 443 M | 442 M | 441 M | 441 M | 440 M | 394 M | 338 M | 338 M | 337 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
4.87 B | 6.45 B | 7.37 B | 7.93 B | 8.2 B | 8.91 B | 9.37 B | - | 9.79 B | 10.1 B | 9.67 B | 9.65 B | 9.72 B | 9.88 B | - | 9.51 B | 8.25 B | 8.03 B | 7.68 B | 6.82 B | 4.54 B | 4.54 B | 4.54 B | 4.54 B | 4.13 B | 4.13 B | 4.13 B | 4.13 B | 2.47 B | 2.47 B | 2.47 B | 2.47 B | 1.97 B | 1.97 B | 1.97 B | 1.97 B | 2.05 B | 2.05 B | 2.05 B | 2.05 B | 1.85 B | 597 M | 597 M | 597 M | 599 M | 599 M | 599 M | 599 M | 442 M | 442 M | 442 M | 442 M | 137 M | 137 M | 137 M | 137 M | - | - | - | - |
Retained Earnings |
-1.01 B | -570 M | -529 M | -450 M | -505 M | -146 M | -92.3 M | - | 124 M | 169 M | 187 M | -6.53 M | 4.99 M | 40.1 M | - | 21.7 M | 8.6 M | -10.4 M | -23.1 M | -20 M | -24.2 M | -24.2 M | -24.2 M | -24.2 M | 8.75 M | 8.75 M | 8.75 M | 8.75 M | 5.27 M | 5.27 M | 5.27 M | 5.27 M | -3.38 M | -3.38 M | -3.38 M | -3.38 M | -201 K | -201 K | -201 K | -201 K | -5.9 M | -4.98 M | -4.98 M | -4.98 M | 9.03 M | 9.03 M | 9.03 M | 9.03 M | -4.96 M | -4.96 M | -4.96 M | -4.96 M | 5.28 M | 5.28 M | 5.28 M | 5.28 M | - | - | - | - |
Total Assets |
6.31 B | 8.33 B | 9.31 B | 9.98 B | 10.1 B | 11.3 B | 11.8 B | - | 12.4 B | 12.8 B | 12.4 B | 11.5 B | 11.6 B | 11.9 B | - | 11.5 B | 9.53 B | 9.26 B | 8.98 B | 8.02 B | 5.37 B | 5.37 B | 5.37 B | 5.37 B | 4.98 B | 4.98 B | 4.98 B | 4.98 B | 3.04 B | 3.04 B | 3.04 B | 3.04 B | 2.52 B | 2.52 B | 2.52 B | 2.52 B | 2.61 B | 2.61 B | 2.61 B | 2.61 B | 2.33 B | 775 M | 775 M | 775 M | 792 M | 792 M | 792 M | 792 M | 620 M | 620 M | 620 M | 620 M | 202 M | 202 M | 202 M | 202 M | - | - | - | - |
Cash and Cash Equivalents |
200 M | 148 M | 163 M | 206 M | 144 M | 181 M | 226 M | 166 M | 139 M | 166 M | 198 M | 111 M | 297 M | 208 M | 128 M | 211 M | 323 M | 210 M | 201 M | 308 M | 139 M | 150 M | 257 M | 122 M | 67.9 M | 52.7 M | 67.9 M | 67.9 M | 54.4 M | 54.4 M | 54.4 M | 54.4 M | 63.4 M | 63.4 M | 63.4 M | 63.4 M | 59.6 M | 59.6 M | 59.6 M | 59.6 M | 41.6 M | 20.8 M | 20.8 M | 20.8 M | 56.7 M | 33.8 M | 33.8 M | 33.8 M | 218 M | 57.1 M | 57.1 M | 57.1 M | 19.1 M | 19.1 M | 19.1 M | 19.1 M | 6.33 M | - | - | - |
Book Value |
1.45 B | 1.88 B | 1.93 B | 2.05 B | 1.94 B | 2.34 B | 2.4 B | - | 2.65 B | 2.7 B | 2.71 B | 1.89 B | 1.9 B | 1.98 B | - | 1.97 B | 1.29 B | 1.24 B | 1.3 B | 1.2 B | 834 M | 834 M | 834 M | 834 M | 845 M | 845 M | 845 M | 845 M | 564 M | 564 M | 564 M | 564 M | 555 M | 555 M | 555 M | 555 M | 552 M | 552 M | 552 M | 552 M | 480 M | 178 M | 178 M | 178 M | 193 M | 193 M | 193 M | 193 M | 178 M | 178 M | 178 M | 178 M | 65.1 M | 65.1 M | 65.1 M | 65.1 M | - | - | - | - |
Total Shareholders Equity |
1.34 B | 1.77 B | 1.83 B | 1.94 B | 1.84 B | 2.33 B | 2.39 B | 2.5 B | 2.54 B | 2.69 B | 2.7 B | 1.78 B | 1.79 B | 1.97 B | 1.96 B | 1.96 B | 1.28 B | 1.23 B | 1.27 B | 1.16 B | 815 M | 815 M | 815 M | 815 M | 825 M | 825 M | 825 M | 825 M | 545 M | 545 M | 545 M | 545 M | 536 M | 536 M | 536 M | 536 M | 513 M | 513 M | 513 M | 513 M | 441 M | 159 M | 159 M | 159 M | 173 M | 173 M | 173 M | 173 M | 159 M | 159 M | 159 M | 159 M | 45 M | 45 M | 45 M | 45 M | 55.3 M | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Ready Capital Corporation, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.