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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $78.2M, roughly 1.3× Ellington Financial Inc.). Ellington Financial Inc. runs the higher net margin — 28.9% vs 28.5%, a 0.4% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs 6.5%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% 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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
EFC vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $97.9M |
| Net Profit | $22.6M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 7.4% | 27.4% |
| Net Margin | 28.9% | 28.5% |
| Revenue YoY | 8.7% | 6.5% |
| Net Profit YoY | -26.2% | 7.1% |
| EPS (diluted) | $0.10 | $0.38 |
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.
| Q4 25 | $78.2M | $97.9M | ||
| Q3 25 | $82.8M | $96.2M | ||
| Q2 25 | $92.5M | $93.8M | ||
| Q1 25 | $82.9M | $97.7M | ||
| Q4 24 | $72.0M | $91.9M | ||
| Q3 24 | $67.0M | $90.7M | ||
| Q2 24 | $91.2M | $89.9M | ||
| Q1 24 | $75.5M | $93.2M |
| Q4 25 | $22.6M | $27.9M | ||
| Q3 25 | $29.5M | $29.3M | ||
| Q2 25 | $42.9M | $27.9M | ||
| Q1 25 | $31.6M | $29.4M | ||
| Q4 24 | $30.7M | $26.0M | ||
| Q3 24 | $16.2M | $19.3M | ||
| Q2 24 | $52.3M | $29.7M | ||
| Q1 24 | $26.9M | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | 7.4% | 27.4% | ||
| Q3 25 | 31.1% | 25.9% | ||
| Q2 25 | 38.3% | 25.5% | ||
| Q1 25 | 37.3% | 25.9% | ||
| Q4 24 | 28.0% | 24.6% | ||
| Q3 24 | 24.0% | 17.5% | ||
| Q2 24 | 52.8% | 26.7% | ||
| Q1 24 | 42.2% | 26.4% |
| Q4 25 | 28.9% | 28.5% | ||
| Q3 25 | 35.7% | 30.5% | ||
| Q2 25 | 46.4% | 29.8% | ||
| Q1 25 | 38.2% | 30.1% | ||
| Q4 24 | 42.6% | 28.3% | ||
| Q3 24 | 24.1% | 21.3% | ||
| Q2 24 | 57.4% | 33.0% | ||
| Q1 24 | 35.6% | 33.0% |
| Q4 25 | $0.10 | $0.38 | ||
| Q3 25 | $0.29 | $0.41 | ||
| Q2 25 | $0.45 | $0.39 | ||
| Q1 25 | $0.35 | $0.41 | ||
| Q4 24 | $0.23 | $0.36 | ||
| Q3 24 | $0.19 | $0.27 | ||
| Q2 24 | $0.62 | $0.42 | ||
| Q1 24 | $0.32 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $1.8B | $2.4B |
| Total Assets | $19.4B | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $21.7M | ||
| Q3 25 | $184.8M | $12.1M | ||
| Q2 25 | $211.0M | $13.9M | ||
| Q1 25 | $203.3M | $17.3M | ||
| Q4 24 | $192.4M | $8.3M | ||
| Q3 24 | $217.7M | $15.6M | ||
| Q2 24 | $198.5M | $13.4M | ||
| Q1 24 | $187.5M | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.8B | $2.4B | ||
| Q2 25 | $1.7B | $2.4B | ||
| Q1 25 | $1.6B | $2.4B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.5B | $2.3B |
| Q4 25 | $19.4B | $7.2B | ||
| Q3 25 | $17.8B | $7.1B | ||
| Q2 25 | $17.1B | $7.1B | ||
| Q1 25 | $16.6B | $6.9B | ||
| Q4 24 | $16.3B | $6.9B | ||
| Q3 24 | $16.0B | $6.8B | ||
| Q2 24 | $15.1B | $6.8B | ||
| Q1 24 | $15.1B | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -40.92× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $47.8M | ||
| Q3 25 | $-290.4M | $-1.4M | ||
| Q2 25 | $-210.5M | $28.0M | ||
| Q1 25 | $-126.4M | $8.9M | ||
| Q4 24 | $-430.5M | $37.9M | ||
| Q3 24 | $-141.7M | $8.3M | ||
| Q2 24 | $-88.6M | $24.8M | ||
| Q1 24 | $-59.5M | $-3.1M |
| Q4 25 | 0.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | -40.92× | 1.72× | ||
| Q3 25 | -9.84× | -0.05× | ||
| Q2 25 | -4.90× | 1.00× | ||
| Q1 25 | -3.99× | 0.30× | ||
| Q4 24 | -14.04× | 1.45× | ||
| Q3 24 | -8.76× | 0.43× | ||
| Q2 24 | -1.69× | 0.83× | ||
| Q1 24 | -2.21× | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
