Filing Flows › Ellington Financial (EFC) › Q3 2026 › vs Q3 2025
Ellington Financial (EFC) Q3 2026 vs Q3 2025 (year over year)
Ellington Financial's revenue rose $35.0M (+42%) from $82.8M in Q3 2025 to $118M in Q3 2026. The biggest changes: Net interest income +$19.2M (+39%); Noninterest income +$15.7M (+48%). Operating margin 40.7% against 46.9% (-6.2 pts).
Ellington Financial, Q3 2026: revenue $118M (+42% year over year), operating margin 40.7%, net earnings $40.4M, operating cash flow $16.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 40.7% | 46.9% | -6.2 pts |
| Net margin | 34.3% | 35.7% | -1.3 pts |
| Free cash flow margin | 13.4% | -351.0% | +364.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Net interest income | $69.0M | $49.7M | $19.2M | +39% |
| Noninterest income | $48.8M | $33.0M | $15.7M | +48% |
| Revenue | $118M | $82.8M | $35.0M | +42% |
| Operating profit | $47.9M | $38.8M | $9.1M | +23% |
| Costs & expenses | $69.8M | $43.9M | $25.9M | +59% |
| Pre-tax earnings | $47.9M | $38.8M | $9.1M | +23% |
| Net earnings | $40.4M | $29.5M | $10.9M | +37% |
| Minority interests | $5.6M | $8.3M | −$2.7M | -33% |
| Income tax | $2.0M | $1.1M | $927K | +87% |
| Depreciation & amortization | $114K | $411K | −$297K | -72% |
| Share-based compensation | $1.5M | $1.0M | $500K | +50% |
| Working capital & other | $25.3M | $321M | −$296M | -92% |
| Operating cash flow | $16.7M | −$290M | $307M | — |
| Free cash flow (OCF − capex) | $15.8M | −$290M | $306M | — |
| Capital expenditures | $848K | $0 | $848K | — |
Questions
How much did Ellington Financial's revenue grow year over year in Q3 2026?
Ellington Financial's revenue rose $35.0M (+42%) from $82.8M in Q3 2025 to $118M in Q3 2026.
What drove Ellington Financial's revenue change in Q3 2026?
Net interest income +$19.2M (+39%); Noninterest income +$15.7M (+48%).