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Side-by-side financial comparison of Ellington Financial Inc. (EFC) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $51.6M, roughly 1.5× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs 28.9%, a 38.4% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 8.7%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
EFC vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $51.6M |
| Net Profit | $22.6M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | 7.4% | 97.0% |
| Net Margin | 28.9% | 67.3% |
| Revenue YoY | 8.7% | 32.8% |
| Net Profit YoY | -26.2% | 67.0% |
| EPS (diluted) | $0.10 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $82.8M | $49.1M | ||
| Q2 25 | $92.5M | $47.6M | ||
| Q1 25 | $82.9M | $37.5M | ||
| Q4 24 | $72.0M | $38.9M | ||
| Q3 24 | $67.0M | $35.1M | ||
| Q2 24 | $91.2M | $32.4M | ||
| Q1 24 | $75.5M | $29.5M |
| Q4 25 | $22.6M | $34.8M | ||
| Q3 25 | $29.5M | $25.4M | ||
| Q2 25 | $42.9M | $26.0M | ||
| Q1 25 | $31.6M | $18.9M | ||
| Q4 24 | $30.7M | $20.8M | ||
| Q3 24 | $16.2M | $15.8M | ||
| Q2 24 | $52.3M | $14.8M | ||
| Q1 24 | $26.9M | $17.3M |
| Q4 25 | 7.4% | 97.0% | ||
| Q3 25 | 31.1% | 72.1% | ||
| Q2 25 | 38.3% | 71.3% | ||
| Q1 25 | 37.3% | 71.7% | ||
| Q4 24 | 28.0% | 82.5% | ||
| Q3 24 | 24.0% | 60.6% | ||
| Q2 24 | 52.8% | 61.3% | ||
| Q1 24 | 42.2% | 78.8% |
| Q4 25 | 28.9% | 67.3% | ||
| Q3 25 | 35.7% | 51.7% | ||
| Q2 25 | 46.4% | 54.6% | ||
| Q1 25 | 38.2% | 50.4% | ||
| Q4 24 | 42.6% | 53.5% | ||
| Q3 24 | 24.1% | 45.1% | ||
| Q2 24 | 57.4% | 45.6% | ||
| Q1 24 | 35.6% | 58.5% |
| Q4 25 | $0.10 | $0.90 | ||
| Q3 25 | $0.29 | $0.65 | ||
| Q2 25 | $0.45 | $0.69 | ||
| Q1 25 | $0.35 | $0.51 | ||
| Q4 24 | $0.23 | $0.56 | ||
| Q3 24 | $0.19 | $0.44 | ||
| Q2 24 | $0.62 | $0.42 | ||
| Q1 24 | $0.32 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $672.5M |
| Total Assets | $19.4B | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $92.1M | ||
| Q3 25 | $184.8M | $99.0M | ||
| Q2 25 | $211.0M | $79.6M | ||
| Q1 25 | $203.3M | $51.7M | ||
| Q4 24 | $192.4M | $49.9M | ||
| Q3 24 | $217.7M | $44.1M | ||
| Q2 24 | $198.5M | $47.4M | ||
| Q1 24 | $187.5M | $34.8M |
| Q4 25 | $1.8B | $672.5M | ||
| Q3 25 | $1.8B | $634.3M | ||
| Q2 25 | $1.7B | $597.9M | ||
| Q1 25 | $1.6B | $563.2M | ||
| Q4 24 | $1.6B | $516.9M | ||
| Q3 24 | $1.6B | $484.6M | ||
| Q2 24 | $1.6B | $471.3M | ||
| Q1 24 | $1.5B | $452.9M |
| Q4 25 | $19.4B | $7.4B | ||
| Q3 25 | $17.8B | $7.0B | ||
| Q2 25 | $17.1B | $6.5B | ||
| Q1 25 | $16.6B | $6.0B | ||
| Q4 24 | $16.3B | $5.5B | ||
| Q3 24 | $16.0B | $5.2B | ||
| Q2 24 | $15.1B | $4.9B | ||
| Q1 24 | $15.1B | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.5% |
| Cash ConversionOCF / Net Profit | -40.92× | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $18.2M | ||
| Q3 25 | $-290.4M | $11.5M | ||
| Q2 25 | $-210.5M | $7.7M | ||
| Q1 25 | $-126.4M | $3.5M | ||
| Q4 24 | $-430.5M | $37.8M | ||
| Q3 24 | $-141.7M | $-17.6M | ||
| Q2 24 | $-88.6M | $11.5M | ||
| Q1 24 | $-59.5M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | — | -50.3% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.3% | ||
| Q1 24 | 0.0% | 0.1% |
| Q4 25 | -40.92× | 0.52× | ||
| Q3 25 | -9.84× | 0.45× | ||
| Q2 25 | -4.90× | 0.29× | ||
| Q1 25 | -3.99× | 0.19× | ||
| Q4 24 | -14.04× | 1.81× | ||
| Q3 24 | -8.76× | -1.11× | ||
| Q2 24 | -1.69× | 0.78× | ||
| Q1 24 | -2.21× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
