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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $57.1M, roughly 1.4× NETSTREIT Corp.). Ellington Financial Inc. runs the higher net margin — 28.9% vs 10.0%, a 18.9% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 8.7%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% 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.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
EFC vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $57.1M |
| Net Profit | $22.6M | $5.7M |
| Gross Margin | — | — |
| Operating Margin | 7.4% | 34.1% |
| Net Margin | 28.9% | 10.0% |
| Revenue YoY | 8.7% | 24.3% |
| Net Profit YoY | -26.2% | 235.9% |
| EPS (diluted) | $0.10 | $0.32 |
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 | — | $57.1M | ||
| Q4 25 | $78.2M | $52.5M | ||
| Q3 25 | $82.8M | $48.3M | ||
| Q2 25 | $92.5M | $48.3M | ||
| Q1 25 | $82.9M | $45.9M | ||
| Q4 24 | $72.0M | $44.1M | ||
| Q3 24 | $67.0M | $41.4M | ||
| Q2 24 | $91.2M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $22.6M | $1.3M | ||
| Q3 25 | $29.5M | $618.0K | ||
| Q2 25 | $42.9M | $3.3M | ||
| Q1 25 | $31.6M | $1.7M | ||
| Q4 24 | $30.7M | $-5.4M | ||
| Q3 24 | $16.2M | $-5.3M | ||
| Q2 24 | $52.3M | $-2.3M |
| Q1 26 | — | 34.1% | ||
| Q4 25 | 7.4% | 2.6% | ||
| Q3 25 | 31.1% | 1.3% | ||
| Q2 25 | 38.3% | 6.8% | ||
| Q1 25 | 37.3% | 3.7% | ||
| Q4 24 | 28.0% | -12.3% | ||
| Q3 24 | 24.0% | -12.8% | ||
| Q2 24 | 52.8% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | 28.9% | 2.5% | ||
| Q3 25 | 35.7% | 1.3% | ||
| Q2 25 | 46.4% | 6.8% | ||
| Q1 25 | 38.2% | 3.7% | ||
| Q4 24 | 42.6% | -12.3% | ||
| Q3 24 | 24.1% | -12.8% | ||
| Q2 24 | 57.4% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.10 | $0.01 | ||
| Q3 25 | $0.29 | $0.01 | ||
| Q2 25 | $0.45 | $0.04 | ||
| Q1 25 | $0.35 | $0.02 | ||
| Q4 24 | $0.23 | $-0.07 | ||
| Q3 24 | $0.19 | $-0.07 | ||
| Q2 24 | $0.62 | $-0.03 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $1.5B |
| Total Assets | $19.4B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $201.9M | — | ||
| Q3 25 | $184.8M | — | ||
| Q2 25 | $211.0M | — | ||
| Q1 25 | $203.3M | — | ||
| Q4 24 | $192.4M | — | ||
| Q3 24 | $217.7M | — | ||
| Q2 24 | $198.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $19.4B | $2.6B | ||
| Q3 25 | $17.8B | $2.5B | ||
| Q2 25 | $17.1B | $2.3B | ||
| Q1 25 | $16.6B | $2.3B | ||
| Q4 24 | $16.3B | $2.3B | ||
| Q3 24 | $16.0B | $2.2B | ||
| Q2 24 | $15.1B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | $109.5M | ||
| Q3 25 | $-290.4M | $28.0M | ||
| Q2 25 | $-210.5M | $30.6M | ||
| Q1 25 | $-126.4M | $22.1M | ||
| Q4 24 | $-430.5M | $90.2M | ||
| Q3 24 | $-141.7M | $25.1M | ||
| Q2 24 | $-88.6M | $25.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | -40.92× | 82.46× | ||
| Q3 25 | -9.84× | 45.27× | ||
| Q2 25 | -4.90× | 9.36× | ||
| Q1 25 | -3.99× | 13.06× | ||
| Q4 24 | -14.04× | — | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
