Starwood Property Trust, Inc. (STWD) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Starwood Property Trust reported revenue of $1.84B, down 5.3% from $1.95B the year before. Net income was $411.5M (a 22.3% net margin), or $1.15 per diluted share. Gross margin was 3.1% and operating margin was -12.5%. Operating activities generated $977.9M of cash, leaving $99.4M of free cash flow. At fiscal year end, Starwood Property Trust held $63.18B in total assets against $55.69B in total liabilities, including $499.5M of cash and equivalents.
Open the full interactive Starwood Property Trust financials → Quarterly statements, key ratios, valuation history and price charts.
Starwood Property Trust Key Stats
| Share Price | $12.48 |
|---|---|
| Market Cap | $4.58B |
| P/E Ratio | 10.9 |
| Revenue YoY Growth | -5.3% |
| 52-Week Range | $12.48 – $17.26 |
| Shares Outstanding | 366.4 million (basic, 2026 Q2) |
Starwood Property Trust Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.17B | $1.46B | $2.05B | $1.95B | $1.84B |
| Cost of Goods Sold | $964.4M | $989.1M | $1.27B | $2.10B | $1.98B | $1.79B |
| Gross Profit | $171.7M | $181.0M | $191.8M | -$48.4M | -$35.2M | $57.7M |
| Operating Income | -$80.5M | -$73.3M | -$33.0M | -$277.8M | -$275.8M | -$230.1M |
| Pre-Tax Income | $386.3M | $501.1M | $997.5M | $417.5M | $406.0M | $479.8M |
| Income Tax | $20.2M | $8.7M | -$61.5M | -$682,000 | $25.4M | $36.7M |
| Net Income | $331.7M | $447.7M | $871.5M | $339.2M | $359.9M | $411.5M |
| Diluted EPS | $1.16 | $1.52 | $2.74 | $1.07 | $1.10 | $1.15 |
Starwood Property Trust Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $488.9M | $492.9M | $512.5M | $513.7M |
| Net Income | $72.6M | $96.9M | $51.9M | $6.6M |
| Diluted EPS | $0.19 | $0.28 | $0.13 | $0.01 |
Starwood Property Trust Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $563.2M | $217.4M | $261.1M | $194.7M | $377.8M | $499.5M |
| Total Assets | $80.87B | $83.85B | $79.04B | $69.50B | $62.56B | $63.18B |
| Total Long-Term Debt | $1.73B | $14.41B | $16.83B | $16.03B | $14.15B | $16.96B |
| Total Liabilities | $76.01B | $77.20B | $71.84B | $62.48B | $55.36B | $55.69B |
| Shareholders' Equity | $4.49B | $6.07B | $6.46B | $6.25B | $6.44B | $6.80B |
Starwood Property Trust Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.05B | -$990.0M | $213.7M | $528.6M | $646.6M | $977.9M |
| Cash From Investing | -$911.8M | -$4.28B | -$2.95B | $855.1M | $2.08B | -$3.78B |
| Cash From Financing | $13.3M | $4.87B | $2.80B | -$1.45B | -$2.49B | $2.92B |
| Free Cash Flow | — | — | — | — | — | $99.4M |
Figures from Starwood Property Trust's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Starwood Property Trust financials page for every line item.
Starwood Property Trust Company Profile
| Ticker | STWD |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | Miami Beach, Florida |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001465128 |
Frequently Asked Questions
What was Starwood Property Trust's revenue in fiscal 2025?
Starwood Property Trust (STWD) reported revenue of $1.84B for fiscal 2025.
What is Starwood Property Trust's annual revenue history?
Starwood Property Trust's annual revenue by fiscal year: 2020: $1.14B; 2021: $1.17B; 2022: $1.46B; 2023: $2.05B; 2024: $1.95B; 2025: $1.84B.
What was Starwood Property Trust's net income in fiscal 2025?
Starwood Property Trust reported net income of $411.5M for fiscal 2025.
What was Starwood Property Trust's earnings per share (EPS) in fiscal 2025?
Starwood Property Trust's diluted EPS was $1.15 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Starwood Property Trust generate in fiscal 2025?
Starwood Property Trust generated $99.4M of free cash flow in fiscal 2025.
What was Starwood Property Trust's revenue last quarter?
In its most recent reported quarter (2026 Q2), Starwood Property Trust reported revenue of $513.7M.
How much debt does Starwood Property Trust have?
Starwood Property Trust reported $16.96B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Starwood Property Trust are outstanding?
Starwood Property Trust reported a weighted average of 366.4 million basic shares outstanding in 2026 Q2.
What is Starwood Property Trust's market cap?
Based on its latest closing price, Starwood Property Trust (STWD) has a market capitalization of about $4.58B.
When does Starwood Property Trust's fiscal year end?
Starwood Property Trust's fiscal year end, as registered with the SEC, is December 31.
Where is Starwood Property Trust headquartered?
Starwood Property Trust lists its business address in Miami Beach, Florida in its SEC filings.