What is Ready Capital Financial Strength?
Ready Capital has the Financial Strength Rank of 2. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
Ready Capital Corp displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
GuruFocus does not calculate Ready Capital's interest coverage with the available data.
Ready Capital's debt to revenue ratio for the quarter that ended in Dec. 2023 was 32.86.
Altman Z-Score does not apply to banks and insurance companies.
Ready Capital Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Ready Capital's Interest Expense for the
months ended in Dec. 2023 was $-191.9 Mil. Its Operating Income for the
months ended in Dec. 2023 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $7,094.2 Mil.
Ready Capital's Interest Coverage for the quarter that ended in Dec. 2023 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Ready Capital's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Altman Z-Score does not apply to banks and insurance companies.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ready Capital (Ready Capital) Business Description
Traded in Other Exchanges
Address
1251 Avenue of the Americas, 50th Floor, New York, NY, USA, 10020
Ready Capital Corp is a real estate finance company. It acquires, manages, originates, and finances small-balance commercial loans to purchase small multi-family, office, retail, mixed-use, or warehouse properties. The company's segments consist of SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. Its objective is to provide attractive risk-adjusted returns through dividends and through capital appreciation.
Executives
| Thomas E Capasse |
director, officer: Chairman of the Board and CEO |
SUTHERLAND ASSET MANAGEMENT CORPORATION, 1185 AVENUE OF THE AMERICAS, 18TH FLOOR, NEW YORK NY 10036 |
| Pinkie Dent Mayfield |
director |
1420 FIFTH AVENUE, SUITE 2000, SEATTLE WA 98101 |
| Daniel J. Hirsch |
director |
748 DIAMOND STREET, SAN FRANCISCO CA 94114 |
| Kevin M Luebbers |
director |
850 RIDGE LAKE BLVD, STE 300, MEMPHIS TN 38120 |
| Gilbert E Nathan |
director |
C/O EMERGENT CAPITAL, INC., 5355 TOWN CENTER ROAD, SUITE 701, BOCA RATON FL 33486 |
| Dominique Mielle |
director |
C/O ANWORTH MORTGAGE ASSET CORPORATION, 1299 OCEAN AVENUE, SECOND FLOOR, SANTA MONICA CA 90401 |
| Meredith Marshall |
director |
50 RIVERSIDE BLVD, APT 14C, NEW YORK NY 10069 |
| Andrew Ahlborn |
officer: Chief Financial Officer |
C/O READY CAPITAL CORPORATION, 1140 AVENUE OF THE AMERICAS, 7TH FLOOR, NEW YORK NY 10036 |
| Erving Julius W Ii |
director |
DR J ENTERPRISES LLC, 3355 LENOX ROAD NE SUITE 750, ATLANTA GA 30326 |
| Andrea Petro |
director |
C/O READY CAPITAL CORPORATION, 1251 AVENUE OF THE AMERICAS, 50TH FL., NEW YORK NY 10020 |
| Adam Zausmer |
officer: Chief Credit Officer |
C/O READY CAPITAL CORPORATION, 1251 AVENUE OF THE AMERICAS, 50TH FLOOR, NEW YORK NY 10020 |
| Gary Taylor |
officer: Chief Operating Officer |
C/O READY CAPITAL CORPORATION, 1140 AVENUE OF THE AMERICAS, 7TH FLOOR, NEW YORK NY 10036 |
| J Mitchell Reese |
director |
210 MONTEREY DR. S., VERO BEACH FL 32963 |
| Todd M. Sinai |
director |
C/O SUTHERLAND ASSET MANAGEMENT CORP, 1140 AVENUE OF THE AMERICAS, 7TH FLOOR, NEW YORK NY 10036 |
| Thomas Buttacavoli |
officer: Chief Investment Officer |
C/O SUTHERLAND ASSET MANAGEMENT CORP., 1140 AVENUE OF THE AMERICAS, 7TH FLOOR, NEW YORK NY 10036 |
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