For the year ending 2025-12-31, STWD had $120,958K increase in cash & cash equivalents over the period. $99,359K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net income | 443,093 |
| Amortization of deferred financing costs, premiums and discounts on secured borrowings | 46,650 |
| Amortization of discounts and deferred financing costs on unsecured senior notes | 11,924 |
| Accretion of net discount on investment securities | 5,685 |
| Accretion of net deferred loan fees and discounts | 62,351 |
| Share-based compensation | 54,094 |
| Manager fees paid in stock | 11,488 |
| Change in fair value of investment securities | 2,187 |
| Change in fair value of consolidated vies | 5,860 |
| Change in fair value of servicing rights | 5,890 |
| Change in fair value of loans | 184,440 |
| Change in fair value of affordable housing fund investments | -346,034 |
| Change in fair value of derivatives | -153,587 |
| Foreign currency (gain) loss, net | 112,944 |
| Gain on sale of investments and other assets | 42,913 |
| Impairment charges on properties and related intangibles | 26,766 |
| Credit loss provision, net | 19,370 |
| Depreciation and amortization | 84,832 |
| Earnings from unconsolidated entities | 14,553 |
| Distributions of earnings from unconsolidated entities | 10,863 |
| (gain) loss on extinguishment of debt | 17,681 |
| Origination and purchase of loans held-for-sale, net of principal collections | 923,497 |
| Proceeds from sale of loans held-for-sale | 1,285,302 |
| Related-party payable | -7,296 |
| Accrued and capitalized interest receivable, less purchased interest | 103,841 |
| Other assets | -23,150 |
| Accounts payable, accrued expenses and other liabilities | -50,163 |
| Net cash provided by operating activities | 977,852 |
| Origination, purchase and funding of loans held-for-investment | 7,787,410 |
| Proceeds from principal collections on loans | 4,510,844 |
| Proceeds from loans sold | 229,867 |
| Purchase and funding of investment securities | 81,621 |
| Proceeds from sales and redemptions of investment securities | 9,256 |
| Proceeds from principal collections on investment securities | 304,351 |
| Proceeds from sales of real estate | 100,940 |
| Net cash paid in merger | 878,493 |
| Purchases and additions to properties and other assets | 269,043 |
| Investments in unconsolidated entities | 313 |
| Proceeds from sale of interest in an unconsolidated entity | 69,819 |
| Distribution of capital from unconsolidated entities | 250 |
| Cash acquired through foreclosures | 733 |
| Payments for purchase or termination of derivatives | 54,515 |
| Proceeds from origination or termination of derivatives | 68,883 |
| Net cash (used in) provided by investing activities | -3,776,452 |
| Proceeds from borrowings | 14,667,362 |
| Principal repayments on and repurchases of borrowings | 11,430,553 |
| Payment of deferred financing costs | 89,193 |
| Net proceeds from issuances of common stock | 567,813 |
| Payment of dividends | 668,855 |
| Contributions from non-controlling interests | 7,450 |
| Distributions to non-controlling interests | 99,985 |
| Issuance of debt of consolidated vies | 0 |
| Repayment of debt of consolidated vies | 165,052 |
| Distributions of cash from consolidated vies | 130,571 |
| Net cash provided by (used in) financing activities | 2,919,558 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 120,958 |
| Cash, cash equivalents and restricted cash, beginning of period | 553,995 |
| Effect of exchange rate changes on cash | -306 |
| Cash, cash equivalents and restricted cash, end of period | 674,647 |
STARWOOD PROPERTY TRUST, INC. (STWD)
STARWOOD PROPERTY TRUST, INC. (STWD)