STWD

Updated: Mar 22, 2026 10:46 PM

Starwood Property Trust Inc

Market Cap: $6.50B P/S: 13x Ownership — Insider: 5.8% | Institutional: 52.9% | Retail: 41.3% REAL ESTATE REIT - MORTGAGE

Starwood Property Trust, Inc. is a real estate investment trust (REIT) in the United States and Europe. The company is headquartered in Greenwich, Connecticut.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        17/17 dates (100%)
  ✅ grossProfit                         17/17 dates (100%)
  ✅ netIncome                           17/17 dates (100%)

Plot for STWD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -2.05B                     -1.03B                      0.00B                      1.03B                      2.05B
               |                          |                          |                          |                          |

  2009-12-31 |                                                      |  0.01B
  2010-12-31 |                                                       |  0.09B
  2011-12-31 |                                                       |  0.17B
  2012-12-31 |                                                       |  0.28B
  2013-12-31 |                                                       |  0.59B
  2014-12-31 |                                                       |  0.71B
  2015-12-31 |                                                       |  0.76B
  2016-12-31 |                                                       |  0.79B
  2017-12-31 |                                                       |  0.88B
  2018-12-31 |                                                       |  1.11B
  2019-12-31 |                                                       |  1.32B
  2020-12-31 |                                                       |  1.14B
  2021-12-31 |                                                       |  1.19B
  2022-12-31 |                                                       |  1.55B
  2023-12-31 |                                                       | 2.05B
  2024-12-31 |                                                       | 2.04B
  2025-12-31 |                                                       |  1.88B

               |                          |                          |                          |                          |
               -2.05B                     -1.03B                      0.00B                      1.03B                      2.05B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              13/17 dates (76%)
  ✅ sellingGeneralAndAdministrative     17/17 dates (100%)
  ✅ costofGoodsAndServicesSold          17/17 dates (100%)

Plot for STWD (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                     130.64M                    261.28M                    391.91M                    522.55M
               |                          |                          |                          |                          |

  2009-12-31 |  9.29M ⊗
  2010-12-31 |  30.05M ⊗
  2011-12-31 |  50.92M
  2012-12-31 |  75.39M
  2013-12-31 |  239.73M
  2014-12-31 |  287.39M
  2015-12-31 |  279.36M
  2016-12-31 |  316.22M
  2017-12-31 |  405.58M
  2018-12-31 |  522.55M
  2019-12-31 |  469.88M
  2020-12-31 |  437.69M
  2021-12-31 |  448.92M
  2022-12-31 |  331.05M
  2023-12-31 |  290.38M
  2024-12-31 |  281.62M ⊗
  2025-12-31 |  366.53M ⊗

               |                          |                          |                          |                          |
               0.00M                     130.64M                    261.28M                    391.91M                    522.55M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         17/17 dates (100%)
  ✅ shortLongTermDebtTotal              17/17 dates (100%)
  ✅ operatingCashflow                   17/17 dates (100%)

Plot for STWD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -22.20B                    -11.10B                     0.00B                     11.10B                     22.20B
               |                          |                          |                          |                          |

  2009-12-31 |                                                       |  0.65B
  2010-12-31 |                                                      |  0.58B
  2011-12-31 |                                                       |  1.10B
  2012-12-31 |                                                       |  1.39B
  2013-12-31 |                                                       |  3.44B
  2014-12-31 |                                                       |  4.69B
  2015-12-31 |                                                       |  10.75B
  2016-12-31 |                                                       |  6.20B
  2017-12-31 |                                                      |  8.51B
  2018-12-31 |                                                       |  12.25B
  2019-12-31 |                                                      |  13.00B
  2020-12-31 |                                                       |  14.20B
  2021-12-31 |                                                     |  18.37B
  2022-12-31 |                                                       |  21.92B
  2023-12-31 |                                                       |  8.87B
  2024-12-31 |                                                       |  9.01B
  2025-12-31 |                                                       | 22.20B

               |                          |                          |                          |                          |
               -22.20B                    -11.10B                     0.00B                     11.10B                     22.20B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   17/17 dates (100%)
  ✅ capitalExpenditures                 17/17 dates (100%)

Plot for STWD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -2.24B                     -1.12B                      0.00B                      1.12B                      2.24B
               |                          |                          |                          |                          |

  2009-12-31 |                                                       |  0.01B
  2010-12-31 |                                                     | -0.10B
  2011-12-31 |                                                       |  0.08B
  2012-12-31 |                                                       |  0.27B
  2013-12-31 |                                                       | 2.24B
  2014-12-31 |                                                       |  0.22B
  2015-12-31 |                                                       |  0.61B
  2016-12-31 |                                                       |  0.56B
  2017-12-31 |                                                 |  0.57B
  2018-12-31 |                                                       |  0.59B
  2019-12-31 |                                                      |  0.03B
  2020-12-31 |                                                       |  1.05B
  2021-12-31 |                               |  -0.99B
  2022-12-31 |                                                       |  0.21B
  2023-12-31 |                                                       |  0.53B
  2024-12-31 |                                                       |  0.65B
  2025-12-31 |                                                       |  0.62B

               |                          |                          |                          |                          |
               -2.24B                     -1.12B                      0.00B                      1.12B                      2.24B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         17/17 dates (100%)
  ✅ totalLiabilities                    17/17 dates (100%)
  ✅ totalShareholderEquity              17/17 dates (100%)

Plot for STWD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                     29.02B                     58.05B                     87.07B                     116.10B
               |                          |                          |                          |                          |

  2009-12-31 |  1.11B
  2010-12-31 |  2.10B
  2011-12-31 |  3.00B
  2012-12-31 |  4.32B
  2013-12-31 |  110.77B
  2014-12-31 |  116.10B
  2015-12-31 |  85.74B
  2016-12-31 |  77.26B
  2017-12-31 |  62.94B
  2018-12-31 |  68.26B
  2019-12-31 |  78.04B
  2020-12-31 |  80.87B
  2021-12-31 |  83.85B
  2022-12-31 |  79.04B
  2023-12-31 |  69.50B
  2024-12-31 |  62.56B
  2025-12-31 |  63.18B

               |                          |                          |                          |                          |
               0.00B                     29.02B                     58.05B                     87.07B                     116.10B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           17/17 dates (100%)
  ✅ shortLongTermDebtTotal              17/17 dates (100%)
  ✅ totalShareholderEquity              17/17 dates (100%)

Plot for STWD (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -22.20B                    -11.10B                     0.00B                     11.10B                     22.20B
               |                          |                          |                          |                          |

  2009-12-31 |                                                      |  0.89B
  2010-12-31 |                                                       |  1.33B
  2011-12-31 |                                                       |  1.76B
  2012-12-31 |                                                       |  2.72B
  2013-12-31 |                                                       |  4.28B
  2014-12-31 |                                                       |  4.69B
  2015-12-31 |                                                       |  10.75B
  2016-12-31 |                                                       |  6.20B
  2017-12-31 |                                                       |  8.51B
  2018-12-31 |                                                       |  12.25B
  2019-12-31 |                                                       |  13.00B
  2020-12-31 |                                                       |  14.20B
  2021-12-31 |                                                       |  18.37B
  2022-12-31 |                                                       |  21.92B
  2023-12-31 |                                                       |  8.87B
  2024-12-31 |                                                       |  9.01B
  2025-12-31 |                                                       | 22.20B

               |                          |                          |                          |                          |
               -22.20B                    -11.10B                     0.00B                     11.10B                     22.20B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for STWD (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -615.05M                   -307.52M                     0.00M                     307.52M                    615.05M
               |                          |                          |                          |                          |

  2019-12-31 |                                                       |  381.30M
  2020-03-31 |                                                 |  312.86M
  2020-06-30 |                                                       |  264.68M
  2020-09-30 |                                                       |  267.43M
  2020-12-31 |                                                       |  290.98M
  2021-03-31 |                                                       |  287.22M
  2021-06-30 |                                                       |  299.60M
  2021-09-30 |                                                       |  302.24M
  2021-12-31 |                                                       |  302.31M
  2022-03-31 |                                                       |  324.60M
  2022-06-30 |                                                       |  325.72M
  2022-09-30 |                                                       |  403.99M
  2022-12-31 |                                                       |  480.15M
  2023-03-31 |                                                       |  490.60M
  2023-06-30 |                                                       |  520.35M
  2023-09-30 |                                                       |  532.16M
  2023-12-31 |                                                       |  518.01M
  2024-03-31 |                                                       | 615.05M
  2024-06-30 |                                                       |  489.83M
  2024-09-30 |                                                       |  487.86M
  2024-12-31 |                                                       |  448.31M
  2025-03-31 |                                                       |  418.18M
  2025-06-30 |                                                       |  475.94M
  2025-09-30 |                                                       |  489.90M
  2025-12-31 |                                                       |  506.25M

               |                          |                          |                          |                          |
               -615.05M                   -307.52M                     0.00M                     307.52M                    615.05M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for STWD (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                     32.25M                     64.50M                     96.76M                     129.01M
               |                          |                          |                          |                          |

  2019-12-31 |  129.01M ⊗
  2020-03-31 |  117.29M ⊗
  2020-06-30 |  99.69M ⊗
  2020-09-30 |  99.98M ⊗
  2020-12-31 |  118.23M ⊗
  2021-03-31 |  113.11M ⊗
  2021-06-30 |  104.94M ⊗
  2021-09-30 |  99.35M ⊗
  2021-12-31 |  128.75M ⊗
  2022-03-31 |  99.62M ⊗
  2022-06-30 |  76.63M ⊗
  2022-09-30 |  72.85M ⊗
  2022-12-31 |  78.89M ⊗
  2023-03-31 |  81.65M ⊗
  2023-06-30 |  74.13M ⊗
  2023-09-30 |  63.98M ⊗
  2023-12-31 |  92.14M ⊗
  2024-03-31 |  96.68M ⊗
  2024-06-30 |  72.70M ⊗
  2024-09-30 |  60.42M ⊗
  2024-12-31 |  81.41M ⊗
  2025-03-31 |  80.40M ⊗
  2025-06-30 |  70.41M ⊗
  2025-09-30 |  100.76M ⊗
  2025-12-31 |  117.39M ⊗

               |                          |                          |                          |                          |
               0.00M                     32.25M                     64.50M                     96.76M                     129.01M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for STWD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -22.45B                    -11.22B                     0.00B                     11.22B                     22.45B
               |                          |                          |                          |                          |

  2019-12-31 |                                                       |  13.00B
  2020-03-31 |                                                       |  12.76B
  2020-06-30 |                                                       |  11.70B
  2020-09-30 |                                                      |  12.48B
  2020-12-31 |                                                       |  14.20B
  2021-03-31 |                                                       |  14.87B
  2021-06-30 |                                                       |  15.07B
  2021-09-30 |                                                     |  16.56B
  2021-12-31 |                                                      |  18.37B
  2022-03-31 |                                                       |  18.67B
  2022-06-30 |                                                       |  20.41B
  2022-09-30 |                                                       |  20.84B
  2022-12-31 |                                                     |  21.92B
  2023-03-31 |                                                      | 22.45B
  2023-06-30 |                                                       |  21.56B
  2023-09-30 |                                                       |  9.30B
  2023-12-31 |                                                       |  8.87B
  2024-03-31 |                                                       |  9.01B
  2024-06-30 |                                                       |  9.05B
  2024-09-30 |                                                       |  8.74B
  2024-12-31 |                                                       |  9.01B
  2025-03-31 |                                                       |  8.97B
  2025-06-30 |                                                      |  9.28B
  2025-09-30 |                                                       |  11.14B
  2025-12-31 |                                                       |  22.20B

               |                          |                          |                          |                          |
               -22.45B                    -11.22B                     0.00B                     11.22B                     22.45B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for STWD (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -749.74M                   -374.87M                     0.00M                     374.87M                    749.74M
               |                          |                          |                          |                          |

  2019-12-31 |                                                       |  556.59M
  2020-03-31 |                                                       |  190.73M
  2020-06-30 |                                                       |  579.01M
  2020-09-30 |                                     |  -243.59M
  2020-12-31 |                                                       |  519.40M
  2021-03-31 |                                                       |  270.77M
  2021-06-30 |                                                       |  17.22M
  2021-09-30 | |  -749.74M
  2021-12-31 |                 |  -528.22M
  2022-03-31 |                                                       |  154.37M
  2022-06-30 |                                                       |  530.87M
  2022-09-30 |                                                       |  159.49M
  2022-12-31 |          |  -630.99M
  2023-03-31 |                                                     |  -28.56M
  2023-06-30 |                                                       |  188.91M
  2023-09-30 |                                                       |  356.39M
  2023-12-31 |                                                       |  11.85M
  2024-03-31 |                                                       |  55.95M
  2024-06-30 |                                                       |  53.26M
  2024-09-30 |                                                       |  241.80M
  2024-12-31 |                                                       |  295.58M
  2025-03-31 |                                                       |  238.87M
  2025-06-30 |                                                 |  -87.35M
  2025-09-30 |                                                       |  337.59M
  2025-12-31 |                                                       |  210.56M

               |                          |                          |                          |                          |
               -749.74M                   -374.87M                     0.00M                     374.87M                    749.74M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for STWD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                     20.96B                     41.93B                     62.89B                     83.85B
               |                          |                          |                          |                          |

  2019-12-31 |  78.04B
  2020-03-31 |  77.58B
  2020-06-30 |  79.56B
  2020-09-30 |  80.62B
  2020-12-31 |  80.87B
  2021-03-31 |  79.70B
  2021-06-30 |  81.31B
  2021-09-30 |  81.98B
  2021-12-31 |  83.85B
  2022-03-31 |  81.19B
  2022-06-30 |  83.10B
  2022-09-30 |  80.00B
  2022-12-31 |  79.04B
  2023-03-31 |  77.35B
  2023-06-30 |  73.17B
  2023-09-30 |  70.29B
  2023-12-31 |  69.50B
  2024-03-31 |  66.17B
  2024-06-30 |  64.09B
  2024-09-30 |  64.23B
  2024-12-31 |  62.56B
  2025-03-31 |  62.16B
  2025-06-30 |  62.37B
  2025-09-30 |  62.43B
  2025-12-31 |  63.18B

               |                          |                          |                          |                          |
               0.00B                     20.96B                     41.93B                     62.89B                     83.85B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for STWD (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -22.45B                    -11.22B                     0.00B                     11.22B                     22.45B
               |                          |                          |                          |                          |

  2019-12-31 |                                                       |  13.00B
  2020-03-31 |                                                      |  12.76B
  2020-06-30 |                                                       |  11.70B
  2020-09-30 |                                                       |  12.48B
  2020-12-31 |                                                       |  14.20B
  2021-03-31 |                                                       |  14.87B
  2021-06-30 |                                                       |  15.07B
  2021-09-30 |                                                       |  16.56B
  2021-12-31 |                                                       |  18.37B
  2022-03-31 |                                                       |  18.67B
  2022-06-30 |                                                       |  20.41B
  2022-09-30 |                                                       |  20.84B
  2022-12-31 |                                                       |  21.92B
  2023-03-31 |                                                       | 22.45B
  2023-06-30 |                                                       |  21.56B
  2023-09-30 |                                                       |  9.30B
  2023-12-31 |                                                       |  8.87B
  2024-03-31 |                                                       |  9.01B
  2024-06-30 |                                                       |  9.05B
  2024-09-30 |                                                       |  8.74B
  2024-12-31 |                                                       |  9.01B
  2025-03-31 |                                                       |  8.97B
  2025-06-30 |                                                       |  9.28B
  2025-09-30 |                                                       |  11.14B
  2025-12-31 |                                                       |  22.20B

               |                          |                          |                          |                          |
               -22.45B                    -11.22B                     0.00B                     11.22B                     22.45B

Price History

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