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Side-by-side financial comparison of Ladder Capital Corp (LADR) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $20.4M, roughly 1.1× TPG Mortgage Investment Trust, Inc.). Ladder Capital Corp runs the higher net margin — 71.0% vs 65.0%, a 6.1% gap on every dollar of revenue. On growth, TPG Mortgage Investment Trust, Inc. posted the faster year-over-year revenue change (17.7% vs -18.0%). Over the past eight quarters, TPG Mortgage Investment Trust, Inc.'s revenue compounded faster (9.1% CAGR vs -22.5%).
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.
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
LADR vs MITT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $20.4M |
| Net Profit | $15.9M | $13.3M |
| Gross Margin | — | — |
| Operating Margin | 69.5% | 67.1% |
| Net Margin | 71.0% | 65.0% |
| Revenue YoY | -18.0% | 17.7% |
| Net Profit YoY | -49.4% | -7.0% |
| EPS (diluted) | $0.13 | $0.27 |
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 | $22.3M | $20.4M | ||
| Q3 25 | $27.8M | $19.5M | ||
| Q2 25 | $21.5M | $17.8M | ||
| Q1 25 | $20.3M | $18.8M | ||
| Q4 24 | $27.2M | $17.4M | ||
| Q3 24 | $38.4M | $14.9M | ||
| Q2 24 | $34.3M | $16.4M | ||
| Q1 24 | $37.1M | $17.2M |
| Q4 25 | $15.9M | $13.3M | ||
| Q3 25 | $19.2M | $20.0M | ||
| Q2 25 | $17.1M | $3.9M | ||
| Q1 25 | $11.6M | $11.5M | ||
| Q4 24 | $31.3M | $14.3M | ||
| Q3 24 | $27.6M | $16.6M | ||
| Q2 24 | $32.1M | $3.9M | ||
| Q1 24 | $16.4M | $20.9M |
| Q4 25 | 69.5% | 67.1% | ||
| Q3 25 | 72.4% | — | ||
| Q2 25 | 96.7% | 20.9% | ||
| Q1 25 | 52.7% | 54.6% | ||
| Q4 24 | — | 76.7% | ||
| Q3 24 | 74.1% | — | ||
| Q2 24 | 90.4% | 18.4% | ||
| Q1 24 | 49.4% | — |
| Q4 25 | 71.0% | 65.0% | ||
| Q3 25 | 69.0% | 102.5% | ||
| Q2 25 | 79.5% | 22.2% | ||
| Q1 25 | 56.8% | 60.9% | ||
| Q4 24 | 115.1% | 82.2% | ||
| Q3 24 | 71.7% | 111.3% | ||
| Q2 24 | 93.6% | 24.0% | ||
| Q1 24 | 44.2% | 121.6% |
| Q4 25 | $0.13 | $0.27 | ||
| Q3 25 | $0.15 | $0.47 | ||
| Q2 25 | $0.14 | $-0.05 | ||
| Q1 25 | $0.09 | $0.21 | ||
| Q4 24 | $0.25 | $0.30 | ||
| Q3 24 | $0.22 | $0.40 | ||
| Q2 24 | $0.26 | $-0.02 | ||
| Q1 24 | $0.13 | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.0M | $57.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $560.7M |
| Total Assets | $5.2B | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | $57.8M | ||
| Q3 25 | $49.4M | $59.0M | ||
| Q2 25 | $134.9M | $88.7M | ||
| Q1 25 | $479.8M | $115.5M | ||
| Q4 24 | $1.3B | $118.7M | ||
| Q3 24 | $1.6B | $102.5M | ||
| Q2 24 | $1.2B | $120.9M | ||
| Q1 24 | $1.2B | $100.3M |
| Q4 25 | $1.5B | $560.7M | ||
| Q3 25 | $1.5B | $559.8M | ||
| Q2 25 | $1.5B | $536.4M | ||
| Q1 25 | $1.5B | $543.9M | ||
| Q4 24 | $1.5B | $543.4M | ||
| Q3 24 | $1.5B | $540.1M | ||
| Q2 24 | $1.5B | $533.5M | ||
| Q1 24 | $1.5B | $539.6M |
| Q4 25 | $5.2B | $8.7B | ||
| Q3 25 | $4.7B | $9.0B | ||
| Q2 25 | $4.5B | $7.5B | ||
| Q1 25 | $4.5B | $7.3B | ||
| Q4 24 | $4.8B | $6.9B | ||
| Q3 24 | $4.8B | $7.0B | ||
| Q2 24 | $4.8B | $7.1B | ||
| Q1 24 | $5.3B | $6.4B |
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 | $87.0M | $59.6M |
| Free Cash FlowOCF − Capex | $78.7M | — |
| FCF MarginFCF / Revenue | 352.4% | — |
| Capex IntensityCapex / Revenue | 37.4% | — |
| Cash ConversionOCF / Net Profit | 5.49× | 4.48× |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $59.6M | ||
| Q3 25 | $26.3M | $17.4M | ||
| Q2 25 | $44.0M | $11.5M | ||
| Q1 25 | $-28.7M | $12.0M | ||
| Q4 24 | $133.9M | $55.8M | ||
| Q3 24 | $169.0M | $14.5M | ||
| Q2 24 | $45.4M | $13.7M | ||
| Q1 24 | $-20.4M | $12.0M |
| 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 | 5.49× | 4.48× | ||
| Q3 25 | 1.37× | 0.87× | ||
| Q2 25 | 2.57× | 2.92× | ||
| Q1 25 | -2.49× | 1.05× | ||
| Q4 24 | 4.27× | 3.91× | ||
| Q3 24 | 6.13× | 0.87× | ||
| Q2 24 | 1.41× | 3.50× | ||
| Q1 24 | -1.24× | 0.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
