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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) and Ladder Capital Corp (LADR). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $21.3M, roughly 1.1× Invesco Mortgage Capital Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs 71.0%, a 171.2% gap on every dollar of revenue. On growth, Invesco Mortgage Capital Inc. posted the faster year-over-year revenue change (55.4% vs -18.0%). Over the past eight quarters, Invesco Mortgage Capital Inc.'s revenue compounded faster (74.2% CAGR vs -22.5%).
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
IVR vs LADR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $22.3M |
| Net Profit | $51.5M | $15.9M |
| Gross Margin | — | — |
| Operating Margin | — | 69.5% |
| Net Margin | 242.2% | 71.0% |
| Revenue YoY | 55.4% | -18.0% |
| Net Profit YoY | 1368.7% | -49.4% |
| EPS (diluted) | $0.72 | $0.13 |
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 | $21.3M | $22.3M | ||
| Q3 25 | $17.6M | $27.8M | ||
| Q2 25 | $17.7M | $21.5M | ||
| Q1 25 | $18.8M | $20.3M | ||
| Q4 24 | $13.7M | $27.2M | ||
| Q3 24 | $7.5M | $38.4M | ||
| Q2 24 | $8.6M | $34.3M | ||
| Q1 24 | $7.0M | $37.1M |
| Q4 25 | $51.5M | $15.9M | ||
| Q3 25 | $53.5M | $19.2M | ||
| Q2 25 | $-23.3M | $17.1M | ||
| Q1 25 | $19.6M | $11.6M | ||
| Q4 24 | $3.5M | $31.3M | ||
| Q3 24 | $40.7M | $27.6M | ||
| Q2 24 | $-13.5M | $32.1M | ||
| Q1 24 | $29.1M | $16.4M |
| Q4 25 | — | 69.5% | ||
| Q3 25 | — | 72.4% | ||
| Q2 25 | — | 96.7% | ||
| Q1 25 | — | 52.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.1% | ||
| Q2 24 | — | 90.4% | ||
| Q1 24 | — | 49.4% |
| Q4 25 | 242.2% | 71.0% | ||
| Q3 25 | 303.6% | 69.0% | ||
| Q2 25 | -131.6% | 79.5% | ||
| Q1 25 | 104.4% | 56.8% | ||
| Q4 24 | 25.6% | 115.1% | ||
| Q3 24 | 542.2% | 71.7% | ||
| Q2 24 | -155.9% | 93.6% | ||
| Q1 24 | 415.9% | 44.2% |
| Q4 25 | $0.72 | $0.13 | ||
| Q3 25 | $0.74 | $0.15 | ||
| Q2 25 | $-0.40 | $0.14 | ||
| Q1 25 | $0.26 | $0.09 | ||
| Q4 24 | $-0.09 | $0.25 | ||
| Q3 24 | $0.63 | $0.22 | ||
| Q2 24 | $-0.38 | $0.26 | ||
| Q1 24 | $0.49 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $56.0M | $38.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $797.5M | $1.5B |
| Total Assets | $6.5B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $56.0M | $38.0M | ||
| Q3 25 | $58.5M | $49.4M | ||
| Q2 25 | $59.4M | $134.9M | ||
| Q1 25 | $42.9M | $479.8M | ||
| Q4 24 | $73.4M | $1.3B | ||
| Q3 24 | $48.3M | $1.6B | ||
| Q2 24 | $58.8M | $1.2B | ||
| Q1 24 | $59.9M | $1.2B |
| Q4 25 | $797.5M | $1.5B | ||
| Q3 25 | $769.6M | $1.5B | ||
| Q2 25 | $709.4M | $1.5B | ||
| Q1 25 | $759.2M | $1.5B | ||
| Q4 24 | $730.7M | $1.5B | ||
| Q3 24 | $857.0M | $1.5B | ||
| Q2 24 | $759.2M | $1.5B | ||
| Q1 24 | $785.6M | $1.5B |
| Q4 25 | $6.5B | $5.2B | ||
| Q3 25 | $6.0B | $4.7B | ||
| Q2 25 | $5.4B | $4.5B | ||
| Q1 25 | $6.2B | $4.5B | ||
| Q4 24 | $5.7B | $4.8B | ||
| Q3 24 | $6.1B | $4.8B | ||
| Q2 24 | $5.1B | $4.8B | ||
| Q1 24 | $5.2B | $5.3B |
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 | $157.1M | $87.0M |
| Free Cash FlowOCF − Capex | — | $78.7M |
| FCF MarginFCF / Revenue | — | 352.4% |
| Capex IntensityCapex / Revenue | — | 37.4% |
| Cash ConversionOCF / Net Profit | 3.05× | 5.49× |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.1M | $87.0M | ||
| Q3 25 | $37.3M | $26.3M | ||
| Q2 25 | $40.6M | $44.0M | ||
| Q1 25 | $19.3M | $-28.7M | ||
| Q4 24 | $183.2M | $133.9M | ||
| Q3 24 | $30.8M | $169.0M | ||
| Q2 24 | $33.0M | $45.4M | ||
| Q1 24 | $57.5M | $-20.4M |
| Q4 25 | — | $78.7M | ||
| Q3 25 | — | $25.9M | ||
| Q2 25 | — | $43.4M | ||
| Q1 25 | — | $-29.6M | ||
| Q4 24 | — | $127.4M | ||
| Q3 24 | — | $166.0M | ||
| Q2 24 | — | $44.9M | ||
| Q1 24 | — | $-21.7M |
| Q4 25 | — | 352.4% | ||
| Q3 25 | — | 93.1% | ||
| Q2 25 | — | 201.6% | ||
| Q1 25 | — | -145.6% | ||
| Q4 24 | — | 468.2% | ||
| Q3 24 | — | 432.1% | ||
| Q2 24 | — | 131.0% | ||
| Q1 24 | — | -58.6% |
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | 3.05× | 5.49× | ||
| Q3 25 | 0.70× | 1.37× | ||
| Q2 25 | — | 2.57× | ||
| Q1 25 | 0.98× | -2.49× | ||
| Q4 24 | 52.24× | 4.27× | ||
| Q3 24 | 0.76× | 6.13× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | 1.97× | -1.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
