ARMOUR Residential REIT (ARR)


Market Price (7/31/2026): $16.455 | Market Cap: $2.1 BilSector: Financials | Industry: Mortgage REITs

ARMOUR Residential REIT (ARR)


Market Price (7/31/2026): $16.455
Market Cap: $2.1 Bil
Sector: Financials
Industry: Mortgage REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 36%, Dividend Yield is 16%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 32%, FCF Yield is 15%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 2170%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 72%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 72%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40%

Low stock price volatility
Vol 12M is 24%

Megatrend and thematic drivers
Megatrends include Residential Real Estate Finance. Themes include Mortgage-Backed Securities, Interest Rate Sensitivity, and Residential Housing Market Trends.

Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -56%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Key risks
ARR key risks include [1] its use of substantial financial leverage, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 36%, Dividend Yield is 16%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 32%, FCF Yield is 15%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 2170%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 72%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 72%
3 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -40%
4 Low stock price volatility
Vol 12M is 24%
5 Megatrend and thematic drivers
Megatrends include Residential Real Estate Finance. Themes include Mortgage-Backed Securities, Interest Rate Sensitivity, and Residential Housing Market Trends.
6 Weak multi-year price returns
2Y Excs Rtn is -24%, 3Y Excs Rtn is -56%
7 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
8 Key risks
ARR key risks include [1] its use of substantial financial leverage, Show more.

ARR in ETFs

Weight = ARR's share of each fund

VTI0.00%
ITOT0.00%
IWM0.07%
IJR0.11%
VB0.03%
SLYG0.23%
IJT0.23%
IWN0.13%
+5 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/22/2026

ARMOUR Residential REIT (ARR) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance Exceeded Expectations.

ARMOUR Residential REIT reported a GAAP net income of $111.5 million, or $0.86 per common share, for fiscal Q2 2026. Distributable Earnings (DE) for the quarter were $0.72 per common share, surpassing analyst estimates of $0.69 per share. The company also achieved a total economic return of 4.8% for fiscal Q2 2026.

2. Improvement in Book Value Per Common Share.

The company's book value per common share increased to $17.53 as of June 30, 2026, representing a 0.6% rise from $17.42 at March 31, 2026. This upward trend in book value indicates an enhancement in the underlying asset value attributable to common shareholders.

Show more
Updated on 7/22/2026

ARMOUR Residential REIT (ARR) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Performance Exceeded Expectations.

ARMOUR Residential REIT reported a GAAP net income of $111.5 million, or $0.86 per common share, for fiscal Q2 2026. Distributable Earnings (DE) for the quarter were $0.72 per common share, surpassing analyst estimates of $0.69 per share. The company also achieved a total economic return of 4.8% for fiscal Q2 2026.

2. Improvement in Book Value Per Common Share.

The company's book value per common share increased to $17.53 as of June 30, 2026, representing a 0.6% rise from $17.42 at March 31, 2026. This upward trend in book value indicates an enhancement in the underlying asset value attributable to common shareholders.

3. Sustained High Dividend Payout.

ARMOUR Residential REIT maintained a consistent monthly common stock dividend of $0.24 per share throughout fiscal Q2 2026, totaling $0.72 per share for the quarter. This consistency, coupled with an implied annualized dividend yield ranging from 16.8% to 17.6%, continued to attract income-focused investors.

4. Enhanced Liquidity and Strategic Capital Raising.

During fiscal Q2 2026, the company successfully raised $218.7 million through the issuance of 12,714,990 shares of common stock via an At-the-Market (ATM) offering program. This capital infusion contributed to a robust liquidity position of $1.2 billion as of June 30, 2026, providing financial flexibility.

5. Positive Broader REIT Market Performance.

The overall REIT sector demonstrated strong investment performance through mid-year 2026, outperforming the broader equity market. This positive sentiment for REITs, driven by factors such as macroeconomic stability and expectations of stabilized earnings for mortgage REITs, likely provided a favorable environment for ARMOUR Residential REIT's stock appreciation.

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Stock Movement Drivers

Fundamental Drivers

The 4.3% change in ARR stock from 3/31/2026 to 7/30/2026 was primarily driven by a 33.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120267302026Change
Stock Price ($)15.7816.454.3%
Change Contribution By: 
Total Revenues ($ Mil)33244233.2%
Net Income Margin (%)97.2%97.4%0.2%
P/E Multiple5.54.9-10.1%
Shares Outstanding (Mil)112129-13.2%
Cumulative Contribution4.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/30/2026
ReturnCorrelation
ARR4.3% 
Market (SPY)14.0%44.2%
Sector (XLF)15.5%20.2%

Fundamental Drivers

The 2.4% change in ARR stock from 12/31/2025 to 7/30/2026 was primarily driven by a 505.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)123120257302026Change
Stock Price ($)16.0716.452.4%
Change Contribution By: 
Total Revenues ($ Mil)73442505.4%
Net Income Margin (%)88.3%97.4%10.3%
P/E Multiple26.04.9-81.0%
Shares Outstanding (Mil)104129-19.2%
Cumulative Contribution2.4%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/30/2026
ReturnCorrelation
ARR2.4% 
Market (SPY)9.1%40.3%
Sector (XLF)4.6%18.2%

Fundamental Drivers

The 17.9% change in ARR stock from 6/30/2025 to 7/30/2026 was primarily driven by a 10746.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)63020257302026Change
Stock Price ($)13.9516.4517.9%
Change Contribution By: 
Total Revenues ($ Mil)444210746.1%
P/S Multiple257.44.8-98.1%
Shares Outstanding (Mil)75129-41.7%
Cumulative Contribution17.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/30/2026
ReturnCorrelation
ARR17.9% 
Market (SPY)21.1%35.5%
Sector (XLF)10.1%21.3%

Fundamental Drivers

The 5.1% change in ARR stock from 6/30/2023 to 7/30/2026 was primarily driven by a -71.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020237302026Change
Stock Price ($)15.6516.455.1%
Change Contribution By: 
Total Revenues ($ Mil)-191442-331.7%
P/S Multiple-3.04.8-258.7%
Shares Outstanding (Mil)37129-71.4%
Cumulative Contribution5.1%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/30/2026
ReturnCorrelation
ARR5.1% 
Market (SPY)73.2%47.1%
Sector (XLF)76.7%41.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ARR Return1%-32%-15%13%12%2%-25%
Peers Return2%-25%5%8%24%9%18%
S&P 500 Return27%-19%24%23%16%7%95%

Monthly Win Rates [3]
ARR Win Rate58%42%42%75%50%43% 
Peers Win Rate57%47%48%63%68%60% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
ARR Max Drawdown-20%-50%-51%-11%-26%-17% 
Peers Max Drawdown-20%-46%-37%-12%-24%-20% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AGNC, NLY, DX, ORC, TWO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/30/2026 (YTD)

How Low Can It Go

EventARRS&P 500
2025 US Tariff Shock
  % Loss-24.7%-18.8%
  % Gain to Breakeven32.8%23.1%
  Time to Breakeven210 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.6%-9.5%
  % Gain to Breakeven80.4%10.5%
  Time to Breakeven260 days24 days
2023 SVB Regional Banking Crisis
  % Loss-20.6%-6.7%
  % Gain to Breakeven26.0%7.1%
  Time to Breakeven963 days31 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-15.8%-12.2%
  % Gain to Breakeven18.7%13.9%
  Time to Breakeven46 days62 days
2014-2016 Oil Price Collapse
  % Loss-34.5%-6.8%
  % Gain to Breakeven52.7%7.3%
  Time to Breakeven433 days15 days
2013 Taper Tantrum
  % Loss-37.5%-0.2%
  % Gain to Breakeven60.0%0.2%
  Time to Breakeven1505 days1 days

Compare to AGNC, NLY, DX, ORC, TWO

In The Past

ARMOUR Residential REIT's stock fell -24.7% during the 2025 US Tariff Shock. Such a loss loss requires a 32.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventARRS&P 500
2025 US Tariff Shock
  % Loss-24.7%-18.8%
  % Gain to Breakeven32.8%23.1%
  Time to Breakeven210 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-44.6%-9.5%
  % Gain to Breakeven80.4%10.5%
  Time to Breakeven260 days24 days
2023 SVB Regional Banking Crisis
  % Loss-20.6%-6.7%
  % Gain to Breakeven26.0%7.1%
  Time to Breakeven963 days31 days
2014-2016 Oil Price Collapse
  % Loss-34.5%-6.8%
  % Gain to Breakeven52.7%7.3%
  Time to Breakeven433 days15 days
2013 Taper Tantrum
  % Loss-37.5%-0.2%
  % Gain to Breakeven60.0%0.2%
  Time to Breakeven1505 days1 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.3%-15.4%
  % Gain to Breakeven27.1%18.2%
  Time to Breakeven106 days125 days

Compare to AGNC, NLY, DX, ORC, TWO

In The Past

ARMOUR Residential REIT's stock fell -24.7% during the 2025 US Tariff Shock. Such a loss loss requires a 32.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About ARMOUR Residential REIT (ARR)

ARMOUR Residential REIT (ARR) is a specialized investment company operating as a Real Estate Investment Trust (REIT) that primarily invests in residential mortgage-backed securities (MBS) within the United States. The company's core investment strategy focuses on acquiring securities issued or guaranteed by U.S. Government-sponsored entities (GSEs), such as Fannie Mae and Freddie Mac, and the Government National Mortgage Administration (Ginnie Mae). These securities are backed by various types of home loans, including fixed-rate, hybrid adjustable-rate, and adjustable-rate mortgages.

Beyond its primary holdings, ARR's portfolio may also include unsecured notes and bonds issued by GSEs, U.S. Treasuries, and money market instruments. While most of its investments are government or GSE-backed, the company can also invest in other residential mortgage-backed securities not guaranteed by a government agency. As a REIT, ARMOUR Residential REIT distributes a significant portion of its taxable income to its shareholders, allowing it to avoid corporate income tax on those distributed earnings. This structure means investors in ARR primarily receive income generated from the interest earned on the company's diverse portfolio of mortgage-related investments.

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Here are 1-3 brief analogies for ARMOUR Residential REIT (ARR):

  • It's like a specialized Bank of America or Wells Fargo, but instead of originating new home loans, ARMOUR's business is solely buying and holding large portfolios of existing government-guaranteed mortgage bonds.
  • Think of it as a specialized Vanguard or BlackRock bond fund, but structured as a publicly traded company that focuses exclusively on residential mortgage-backed securities.

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  • Agency Mortgage-Backed Securities (MBS): The company primarily invests in mortgage-backed securities issued or guaranteed by U.S. government-sponsored entities (GSEs) and government agencies.
  • Non-Agency Mortgage-Backed Securities (MBS): The company also invests in securities backed by residential mortgages where the payment of principal and interest is not guaranteed by a GSE or government agency.
  • Government-Sponsored Enterprise (GSE) Debt: Investments include unsecured notes and bonds issued directly by U.S. government-sponsored entities.
  • U.S. Treasuries and Money Market Instruments: The company invests in U.S. Treasury securities and various money market instruments for liquidity and capital management.

AI Analysis | Feedback

ARMOUR Residential REIT (ARR) is a mortgage real estate investment trust (mREIT). Unlike traditional operating companies that sell products or services to customers, ARR's business model is centered on investing in residential mortgage-backed securities (MBS) and other debt instruments. The company generates revenue primarily from the net interest margin between the income earned on its mortgage assets and the cost of its funding, as well as potential capital gains from its portfolio.

Therefore, ARMOUR Residential REIT does not have "customers" in the conventional sense of companies or individuals purchasing goods or services from it. Its income is derived from the performance of its investment portfolio rather than sales to a customer base.

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Scott J. Ulm, Chief Executive Officer and Vice Chairman

Mr. Ulm has served as the Chief Executive Officer and Vice Chairman of ARMOUR Residential REIT since March 2024. He was previously the Co-Chief Executive Officer, Co-Vice Chairman, and Head of Risk Management for ARMOUR from November 2009 until March 2024. Mr. Ulm has been involved in the management of ARMOUR's external manager since March 2008. He also served as a Director, Co-Chief Executive Officer, Co-Vice Chairman, Chief Investment Officer, and Head of Risk Management of JAVELIN Mortgage Investment Corp. from June 2012 through April 2016. Additionally, he serves as Chairman of the Board and Head of Corporate Finance for BUCKLER Securities LLC, an affiliate of ARMOUR's external manager. Mr. Ulm holds a B.A. summa cum laude from Amherst College, an M.B.A. from the Yale School of Management, and a J.D. degree from Yale Law School.

Gordon M. Harper, Chief Financial Officer and Secretary

Mr. Harper was appointed Chief Financial Officer and Secretary of ARMOUR Residential REIT, effective March 11, 2024. Prior to this role, he served as the Vice President of Finance and Controller for ARMOUR and its external manager, ARMOUR Capital Management LP, since 2015. Before joining ARMOUR, Mr. Harper had a 25-year career at Deloitte, where he served as an audit client service partner for banking and insurance clients across the United States, Canada, and the Caribbean. He is a Chartered Professional Accountant Ontario and a Certified Public Accountant, Illinois.

Desmond E. Macauley, Co-Chief Investment Officer and Head of Risk Management

Mr. Macauley has served as Co-Chief Investment Officer and Head of Risk Management of ARMOUR Residential REIT since March 2024. He previously held the position of Director of Investment Strategies at ARMOUR from May 2013 to March 2024. Mr. Macauley possesses 25 years of experience in the mortgage-backed securities market. His prior experience includes serving as a Managing Director in the MBS Strategy group of RBS Greenwich Capital and as a Vice President in the MBS Research group at Merrill Lynch.

Sergey Losyev, Co-Chief Investment Officer

Mr. Losyev has been Co-Chief Investment Officer of ARMOUR Residential REIT since March 2024. He joined ARMOUR in 2016 and served as Deputy Chief Investment Officer from January 2020 to March 2024. Before joining ARMOUR, he was an Agency MBS Portfolio Analyst at Deutsche Asset Management from 2009 to 2016, where he co-managed over $25 billion in Agency MBS assets. Earlier in his career, Mr. Losyev worked as a financial programmer at Zebra Capital Management LLC. He holds an MBA from the Johnson School of Management at Cornell University and a B.S. degree.

AI Analysis | Feedback

ARMOUR Residential REIT (ARR) faces several key risks inherent to its business model of investing in residential mortgage-backed securities (MBS). Here are the key risks to ARMOUR Residential REIT:
  1. Interest Rate Volatility and MBS Price Risk: As a mortgage REIT, ARMOUR Residential REIT's profitability is highly sensitive to fluctuations in interest rates. Changes in interest rates directly impact the value of its MBS portfolio and its borrowing costs, particularly for repurchase agreements (repo financing). Rising interest rates can decrease the value of existing MBS assets and increase the cost of borrowing, thereby shrinking profit margins. This risk also encompasses prepayment risk (when homeowners refinance at lower rates) and extension risk (when homeowners hold mortgages longer if rates rise), both of which can negatively affect portfolio performance. The company's core business relies on the spread between the interest earned on its MBS investments and its funding costs, making this spread highly vulnerable to interest rate changes.
  2. High Leverage: ARMOUR Residential REIT operates with a significant amount of leverage, often reporting high debt-to-equity ratios (e.g., 7.9x to 8.1x). While high leverage can amplify returns when market conditions are favorable, it also magnifies potential losses during periods of economic downturns or interest rate volatility. This substantial reliance on short-term debt, such as repurchase agreements, makes the company particularly susceptible to changes in borrowing costs and market liquidity.
  3. Regulatory and Market Liquidity Risks: The mortgage REIT industry, including ARMOUR Residential REIT, is subject to potential regulatory shifts. Historically, the Securities and Exchange Commission (SEC) has inquired into the business model of mortgage REITs due to their high leverage, suggesting potential for increased regulatory scrutiny. Furthermore, the company's reliance on short-term funding through repurchase agreements exposes it to market liquidity risks, where a lack of available funding could materially impact its operations.

AI Analysis | Feedback

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The addressable market for ARMOUR Residential REIT's (ARR) main products, residential mortgage-backed securities (MBS), is the U.S. Mortgage-Backed Securities market.

The U.S. Mortgage-Backed Securities market was estimated at USD 14.37 trillion in 2024 and is projected to reach USD 15.55 trillion in 2025. This market is dominated by the residential MBS segment. North America accounts for the largest market share in the Mortgaged Backed Securities Market.

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Expected drivers of future revenue growth for ARMOUR Residential REIT (ARR) over the next 2-3 years include:

  1. Favorable Interest Rate Environment and Net Interest Spread Expansion: Management anticipates a supportive environment in 2026 with declining rate volatility, easing funding costs, and a steeper yield curve, which is expected to widen the net interest spread, the primary source of revenue for a mortgage REIT. Analysts also project a significant increase in estimated book value following a reduction in mortgage-backed securities (MBS) spreads. Anticipated Federal Reserve rate cuts are expected to lower the cost of short-term repurchase agreement (repo) financing, thereby widening the net interest spread.

  2. Strategic Portfolio Growth and Optimization: ARMOUR significantly expanded its investment portfolio by nearly 60% in 2025, primarily acquiring Mortgage-Backed Securities (MBS), demonstrating a focus on portfolio growth. The company's strategic investments in residential MBS and U.S. Treasury Securities are intended to position it for stable growth. Furthermore, a shift towards a barbell portfolio strategy, focusing on both high-spread assets and discounted pools, is expected to enhance future performance.

  3. Effective Risk Management through Hedging Strategies: ARMOUR employs an extensive hedging program, including a $12.6 billion interest rate swap book, aimed at moderating interest rate and MBS price risks across various maturities. This active risk management and hedging are crucial for protecting and stabilizing net interest income, a key component of revenue.

  4. Strategic Capital Deployment and Strong Liquidity: The company's strong balance sheet and strategic investment focus position it to capitalize on market expansion and emerging investment opportunities. ARMOUR maintains substantial liquidity, reporting approximately $1.22 billion as of February 28, 2026, which provides funding flexibility and the ability to strategically deploy capital into attractive investment opportunities.

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Share Repurchases

  • In October 2023, ARMOUR's board of directors authorized an increase to its common stock repurchase program, allowing for the repurchase of up to an additional 2,500,000 shares, effective October 30, 2023.
  • As of December 31, 2025, there were 866,000 authorized shares of common stock remaining available for repurchase under the company's repurchase program.
  • The company repurchased common shares with reported dollar amounts that varied quarterly, for instance, $23.24 million in Q3 2023, $1.35 million in Q1 2024, and $10.10 million in Q3 2025.

Share Issuance

  • In August 2025, ARMOUR announced an underwritten public offering of 18,500,000 shares of common stock, with an option for underwriters to purchase up to an additional 2,775,000 shares. This offering was expected to generate gross proceeds of approximately $302.5 million, potentially rising to $347.8 million if the overallotment option was fully exercised. The net proceeds from this offering were intended for the acquisition of additional mortgage-backed securities and other mortgage-related assets.
  • During the third quarter of 2023, ARMOUR raised $191.4 million of capital by issuing 7,628,578 common shares through at-the-market offerings.
  • In the first quarter of 2026, through January 28, 2026, the company sold 7,469 common shares under the 2023 Common Stock ATM Sales Agreement for net proceeds of $137,990.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ARRAGNCNLYDXORCTWOMedian
NameARMOUR R.AGNC Inv.Annaly C.Dynex Ca.Orchid I.Two Harb. 
Mkt Price16.4510.8023.0812.826.5312.1112.46
Mkt Cap2.112.117.12.81.31.32.5
Rev LTM4421,6053,172502270367472
Op Inc LTM-------
FCF LTM319848-314237206113222
FCF 3Y Avg2653271,265105104178222
CFO LTM319848886237206127278
CFO 3Y Avg2653272,157105104257261

Growth & Margins

ARRAGNCNLYDXORCTWOMedian
NameARMOUR R.AGNC Inv.Annaly C.Dynex Ca.Orchid I.Two Harb. 
Rev Chg LTM2,170.3%174.8%238.3%366.1%1,013.7%298.8%332.5%
Rev Chg 3Y Avg745.9%127.2%231.2%166.1%401.6%108.6%198.6%
Rev Chg Q265.2%-246.2%705.6%15,104.3%435.7%915.3%570.7%
QoQ Delta Rev Chg LTM76.5%-10.7%32.7%65.2%85.5%57.8%61.5%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM72.2%52.8%27.9%47.1%76.4%34.7%50.0%
CFO/Rev 3Y Avg-27.5%-50.9%-150.0%50.9%
FCF/Rev LTM72.2%52.8%-9.9%47.1%76.4%30.9%50.0%
FCF/Rev 3Y Avg-27.5%-50.9%-83.3%50.9%

Valuation

ARRAGNCNLYDXORCTWOMedian
NameARMOUR R.AGNC Inv.Annaly C.Dynex Ca.Orchid I.Two Harb. 
Mkt Cap2.112.117.12.81.31.32.5
P/S4.87.65.45.74.93.55.1
P/Op Inc-------
P/EBIT-------
P/E4.98.25.86.55.4-58.65.6
P/CFO6.614.319.212.06.410.011.0
Total Yield36.1%26.1%29.6%28.1%36.7%10.0%28.9%
Dividend Yield15.8%13.9%12.3%12.8%18.1%11.7%13.4%
FCF Yield 3Y Avg18.4%2.7%13.4%5.1%10.9%13.8%12.2%
D/E0.00.02.20.00.00.80.0
Net D/E-0.0-0.02.2-0.2-0.50.3-0.0

Returns

ARRAGNCNLYDXORCTWOMedian
NameARMOUR R.AGNC Inv.Annaly C.Dynex Ca.Orchid I.Two Harb. 
1M Rtn-4.4%-0.9%3.2%-0.9%-6.3%0.3%-0.9%
3M Rtn-2.2%0.2%4.2%-2.1%-4.4%7.6%-0.9%
6M Rtn-2.7%-3.6%2.8%-4.9%-13.5%-3.4%-3.5%
12M Rtn18.9%29.2%27.9%19.6%10.7%38.1%23.8%
3Y Rtn7.9%62.9%72.0%51.2%8.3%35.5%43.3%
1M Excs Rtn-3.6%-0.1%4.0%-0.1%-5.5%1.2%-0.1%
3M Excs Rtn-4.8%-2.4%1.6%-5.4%-7.2%3.5%-3.6%
6M Excs Rtn-9.8%-10.6%-4.9%-11.9%-20.6%-12.9%-11.2%
12M Excs Rtn0.3%10.6%9.7%0.5%-8.0%19.3%5.1%
3Y Excs Rtn-56.4%-1.3%5.1%-14.7%-58.6%-28.9%-21.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment332-0-63-22619
Total332-0-63-22619


Price Behavior

Price Behavior
Market Price$16.45 
Market Cap ($ Bil)2.0 
First Trading Date12/03/2007 
Distance from 52W High-6.5% 
   50 Days200 Days
DMA Price$16.61$16.07
DMA Trendupindeterminate
Distance from DMA-1.0%2.3%
 3M1YR
Volatility20.1%24.0%
Downside Capture105.2870.83
Upside Capture80.1477.29
Correlation (SPY)45.0%35.5%
ARR Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.470.500.670.670.640.81
Up Beta0.730.490.850.640.650.57
Down Beta0.720.220.130.860.490.87
Up Capture52%60%69%60%67%63%
Bmk +ve Days11244067140429
Stock +ve Days12243870138397
Down Capture14%64%75%64%72%100%
Bmk -ve Days10172358112321
Stock -ve Days8162353111342

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ARR
ARR17.1%24.1%0.60-
Sector ETF (XLF)9.3%14.8%0.3920.7%
Equity (SPY)17.8%12.9%1.0135.3%
Gold (GLD)23.3%28.1%0.7328.5%
Commodities (DBC)29.4%19.7%1.19-11.9%
Real Estate (VNQ)12.7%13.9%0.6240.9%
Bitcoin (BTCUSD)-46.2%42.9%-1.3215.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ARR
ARR-6.6%29.0%-0.21-
Sector ETF (XLF)11.4%18.4%0.4843.9%
Equity (SPY)12.7%17.1%0.5748.3%
Gold (GLD)17.4%18.4%0.7616.6%
Commodities (DBC)9.0%19.5%0.3510.7%
Real Estate (VNQ)2.8%18.9%0.0555.8%
Bitcoin (BTCUSD)14.5%53.3%0.4518.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ARR
ARR-4.7%34.2%-0.05-
Sector ETF (XLF)13.5%22.0%0.5651.4%
Equity (SPY)14.9%17.9%0.7149.9%
Gold (GLD)11.6%16.1%0.5913.9%
Commodities (DBC)7.2%18.0%0.3217.6%
Real Estate (VNQ)5.0%20.7%0.2058.7%
Bitcoin (BTCUSD)57.8%66.2%0.9813.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity14.1 Mil
Short Interest: % Change Since 630202617.8%
Average Daily Volume4.9 Mil
Days-to-Cover Short Interest2.9 days
Basic Shares Quantity129.1 Mil
Short % of Basic Shares10.9%

Earnings Returns History

Updated 7/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/2026-1.5%-0.1% 
4/22/2026-0.3%-1.7%-3.4%
2/18/2026-0.1%1.8%-4.9%
10/22/20251.1%2.8%4.9%
7/23/2025-1.2%-2.7%-11.3%
4/23/20252.8%10.7%8.7%
2/12/20251.6%1.4%0.7%
10/23/20240.2%-2.9%-3.3%
...
SUMMARY STATS   
# Positive141412
# Negative111112
Median Positive2.0%3.1%4.5%
Median Negative-2.2%-1.9%-4.2%
Max Positive5.7%10.7%23.2%
Max Negative-4.7%-6.7%-15.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/2026-1.5%-0.1% 
4/22/2026-0.3%-1.7%-3.4%
2/18/2026-0.1%1.8%-4.9%
10/22/20251.1%2.8%4.9%
7/23/2025-1.2%-2.7%-11.3%
4/23/20252.8%10.7%8.7%
2/12/20251.6%1.4%0.7%
10/23/20240.2%-2.9%-3.3%
7/24/2024-2.4%-2.3%-2.1%
4/25/20241.7%3.4%5.5%
2/14/20245.6%3.6%4.1%
10/25/2023-2.2%6.6%23.2%
7/26/20230.0%-1.7%-5.6%
4/26/20232.0%-0.2%-6.5%
2/15/20232.3%-0.7%-15.4%
10/26/20223.6%3.8%18.6%
7/27/20225.7%4.3%1.0%
4/27/20221.9%4.1%3.7%
2/16/2022-2.5%-6.7%-3.2%
10/27/2021-1.4%0.7%-6.0%
7/22/2021-4.5%-1.9%-1.3%
4/21/20210.4%2.7%0.6%
2/17/2021-3.2%1.9%1.2%
10/21/20203.4%0.3%12.3%
7/22/2020-4.7%-5.5%-2.6%
SUMMARY STATS   
# Positive141412
# Negative111112
Median Positive2.0%3.1%4.5%
Median Negative-2.2%-1.9%-4.2%
Max Positive5.7%10.7%23.2%
Max Negative-4.7%-6.7%-15.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/22/202610-Q
03/31/202604/22/202610-Q
12/31/202502/18/202610-K
09/30/202510/22/202510-Q
06/30/202507/23/202510-Q
03/31/202504/23/202510-Q
12/31/202402/12/202510-K
09/30/202410/23/202410-Q
06/30/202407/24/202410-Q
03/31/202404/25/202410-Q
12/31/202303/15/202410-K
09/30/202310/25/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202202/15/202310-K
09/30/202210/26/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/22/202610-Q
03/31/202604/22/202610-Q
12/31/202502/18/202610-K
09/30/202510/22/202510-Q
06/30/202507/23/202510-Q
03/31/202504/23/202510-Q
12/31/202402/12/202510-K
09/30/202410/23/202410-Q
06/30/202407/24/202410-Q
03/31/202404/25/202410-Q
12/31/202303/15/202410-K
09/30/202310/25/202310-Q
06/30/202307/26/202310-Q
03/31/202304/26/202310-Q
12/31/202202/15/202310-K
09/30/202210/26/202210-Q
06/30/202207/27/202210-Q
03/31/202204/27/202210-Q
12/31/202102/16/202210-K
09/30/202110/27/202110-Q
06/30/202107/22/202110-Q
03/31/202104/21/202110-Q
12/31/202002/17/202110-K
09/30/202010/21/202010-Q
06/30/202007/22/202010-Q
03/31/202005/01/202010-Q
12/31/201902/19/202010-K
09/30/201910/23/201910-Q

Recent Forward Guidance

Updated 7/27/2026

Latest: Q2 2026 Earnings Reported 7/22/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Common Stock Dividend 0.24 0 AffirmedActual: 0.24 for Q2 2026
Q3 2026 Series C Preferred Stock Dividend 0.15 0 AffirmedActual: 0.15 for Q2 2026

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Core Cache Last Updated: 7/30/2026