Q4 25 EPS
$0.42
BEAT +1.74%
Est. $0.41
Q4 25 Revenue
$492.9M
BEAT +3.53%
Est. $476.2M
vs S&P Since Q4 25
-11.2%
TRAILING MARKET
STWD -2.6% vs S&P +8.6%
Full Year 2025 Results
FY 25 EPS
$1.69
BEAT +0.34%
Est. $1.68
FY 25 Revenue
$1.84B
BEAT +1.82%
Est. $1.81B
Market Reaction
Did STWD Beat Earnings? Q4 2025 Results
Starwood Property Trust delivered a revenue beat in Q4 2025 even as earnings per share landed precisely in line with expectations, painting a picture of a company generating strong top-line momentum while managing through a deliberate strategic trans… Read more Starwood Property Trust delivered a revenue beat in Q4 2025 even as earnings per share landed precisely in line with expectations, painting a picture of a company generating strong top-line momentum while managing through a deliberate strategic transition. Revenue came in at $492.95 million, clearing the $427.32 million consensus by 15.36% and rising 10.0% from a year earlier, while distributable EPS of $0.42 matched analyst estimates exactly. The Commercial and Residential Lending segment was the primary engine, contributing $335.24 million of the quarter's revenue, with infrastructure and servicing platforms adding meaningful support. CEO Barry Sternlicht framed 2025 as a transition year, shaped in part by the Fundamental net lease acquisition, which created near-term dilution but brings more than 17 years of weighted average lease duration and 2.3% annual contractual rent increases. With roughly $1.40 billion in liquidity and a freshly announced $400 million share repurchase program signaling management confidence, the company is positioning to grow earnings by deploying cash and scaling its net lease platform, a particularly relevant story for investors locking in high-yield dividends ahead of a potentially prolonged higher-rate environment.
Key Takeaways
- • Strong commercial lending activity with $12.7 billion invested for the full year
- • Record $4.4 billion of capital market transactions in 2025 including equity, unsecured debt, and term loan issuances
- • Commercial and Residential Lending segment generated the largest share of revenue and distributable earnings
- • Infrastructure lending segment delivered strong results through the year
- • Residential lending portfolio increased in value due to declining rates
- • Completion of four securitizations including commercial lending CLO, infrastructure CLOs, and first Fundamental ABS transaction at record-tight spreads
STWD YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
STWD Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a transition year for Starwood Property Trust. The good news is that the pieces remain in place to outperform for our shareholders in the long run. Our core businesses are positioned and are performing exceptionally well with notable progress across global commercial lending, infrastructure lending, conduit and special servicing, each delivering incredibly strong results for the year. Additionally, our residential lending portfolio increased in value over the year with the decline in rates.”
— Barry Sternlicht, Q4 2025 Earnings Press Release
STWD Earnings Trends
STWD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
STWD EPS Trend
Earnings per share: estimate vs actual
STWD Revenue Trend
Quarterly revenue: estimate vs actual
STWD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.42 | $0.39 | -8.06% | $512.5M | +3.27% |
| Q4 25 BEAT FY | $0.41 | $0.42 | +1.74% | $492.9M | +3.53% |
| FY Full Year | $1.68 | $1.69 | +0.34% | $1.84B | +1.82% |
| Q3 25 MISS | $0.44 | $0.40 | -8.97% | $488.9M | +1.91% |
| Q2 25 MISS | $0.38 | $0.38 | -0.47% | $444.3M | -4.61% |
| Q1 25 BEAT | $0.45 | $0.45 | +0.45% | $418.2M | -15.18% |