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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and Primis Financial Corp. (FRST). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $45.6M, roughly 1.7× Primis Financial Corp.). Ellington Financial Inc. runs the higher net margin — 28.9% vs 16.0%, a 12.9% gap on every dollar of revenue. Over the past eight quarters, Primis Financial Corp.'s revenue compounded faster (13.0% CAGR vs 1.8%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
Primis Financial Corp is a U.S.-based financial holding company operating full-service banking subsidiaries. It provides a comprehensive range of financial solutions including personal and commercial deposit products, diverse loan facilities, mortgage services, and wealth management support, primarily serving retail and corporate customers across the U.S. mid-Atlantic region.
EFC vs FRST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $45.6M |
| Net Profit | $22.6M | $7.3M |
| Gross Margin | — | — |
| Operating Margin | 7.4% | — |
| Net Margin | 28.9% | 16.0% |
| Revenue YoY | 8.7% | — |
| Net Profit YoY | -26.2% | 200.0% |
| EPS (diluted) | $0.10 | $0.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $45.6M | ||
| Q4 25 | $78.2M | $80.9M | ||
| Q3 25 | $82.8M | $41.0M | ||
| Q2 25 | $92.5M | $43.2M | ||
| Q1 25 | $82.9M | $58.7M | ||
| Q4 24 | $72.0M | $38.8M | ||
| Q3 24 | $67.0M | $37.3M | ||
| Q2 24 | $91.2M | $35.7M |
| Q1 26 | — | $7.3M | ||
| Q4 25 | $22.6M | $29.5M | ||
| Q3 25 | $29.5M | $6.8M | ||
| Q2 25 | $42.9M | $2.4M | ||
| Q1 25 | $31.6M | $22.6M | ||
| Q4 24 | $30.7M | $-26.2M | ||
| Q3 24 | $16.2M | $1.2M | ||
| Q2 24 | $52.3M | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | 44.8% | ||
| Q3 25 | 31.1% | 21.3% | ||
| Q2 25 | 38.3% | 6.9% | ||
| Q1 25 | 37.3% | 41.9% | ||
| Q4 24 | 28.0% | -123.0% | ||
| Q3 24 | 24.0% | -3.1% | ||
| Q2 24 | 52.8% | 7.8% |
| Q1 26 | — | 16.0% | ||
| Q4 25 | 28.9% | 36.5% | ||
| Q3 25 | 35.7% | 16.7% | ||
| Q2 25 | 46.4% | 5.6% | ||
| Q1 25 | 38.2% | 38.6% | ||
| Q4 24 | 42.6% | -100.3% | ||
| Q3 24 | 24.1% | 3.3% | ||
| Q2 24 | 57.4% | 9.6% |
| Q1 26 | — | $0.30 | ||
| Q4 25 | $0.10 | $1.19 | ||
| Q3 25 | $0.29 | $0.28 | ||
| Q2 25 | $0.45 | $0.10 | ||
| Q1 25 | $0.35 | $0.92 | ||
| Q4 24 | $0.23 | $-0.95 | ||
| Q3 24 | $0.19 | $0.05 | ||
| Q2 24 | $0.62 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $201.9M | $159.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $427.2M |
| Total Assets | $19.4B | $4.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $159.9M | ||
| Q4 25 | $201.9M | $143.6M | ||
| Q3 25 | $184.8M | $63.9M | ||
| Q2 25 | $211.0M | $94.1M | ||
| Q1 25 | $203.3M | $57.0M | ||
| Q4 24 | $192.4M | $64.5M | ||
| Q3 24 | $217.7M | $77.3M | ||
| Q2 24 | $198.5M | $66.6M |
| Q1 26 | — | $427.2M | ||
| Q4 25 | $1.8B | $422.9M | ||
| Q3 25 | $1.8B | $382.2M | ||
| Q2 25 | $1.7B | $376.4M | ||
| Q1 25 | $1.6B | $375.6M | ||
| Q4 24 | $1.6B | $351.8M | ||
| Q3 24 | $1.6B | $381.0M | ||
| Q2 24 | $1.6B | $376.0M |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $19.4B | $4.0B | ||
| Q3 25 | $17.8B | $4.0B | ||
| Q2 25 | $17.1B | $3.9B | ||
| Q1 25 | $16.6B | $3.7B | ||
| Q4 24 | $16.3B | $3.7B | ||
| Q3 24 | $16.0B | $4.0B | ||
| Q2 24 | $15.1B | $4.0B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-925.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -40.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-925.5M | $10.8M | ||
| Q3 25 | $-290.4M | $-11.4M | ||
| Q2 25 | $-210.5M | $-41.0M | ||
| Q1 25 | $-126.4M | $34.4M | ||
| Q4 24 | $-430.5M | $19.5M | ||
| Q3 24 | $-141.7M | $6.1M | ||
| Q2 24 | $-88.6M | $52.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 47.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 2.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | 3.1% | ||
| Q3 24 | 0.0% | 0.0% | ||
| Q2 24 | 0.0% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | -40.92× | 0.36× | ||
| Q3 25 | -9.84× | -1.67× | ||
| Q2 25 | -4.90× | -16.82× | ||
| Q1 25 | -3.99× | 1.52× | ||
| Q4 24 | -14.04× | — | ||
| Q3 24 | -8.76× | 4.93× | ||
| Q2 24 | -1.69× | 15.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
FRST
| Net Interest Income | $32.1M | 70% |
| Noninterest Income | $13.6M | 30% |
