What is Armour Residential Reit's earnings per share (EPS)?

Armour Residential Reit (ARR) reported diluted earnings per share of $3.30 for fiscal year 2025. This represents a 747.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Armour Residential Reit Financials

ARR

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Armour Residential Reit (ARR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ARR FY2025 2026-04-22

Heavy leverage and constant refinancing drive results more than cash accumulation or steady operating earnings at this balance-sheet-heavy REIT.

FY2025’s profit rebound to $322.7M came with weaker operating cash flow of $124.2M, down from FY2024, so the improvement appears driven more by balance-sheet or valuation movements than by cash earnings. That reading fits the cash-flow statement: financing inflows of $7.3B nearly mirrored investing outflows of $7.3B, showing a business that recycles and refinances a very large asset book rather than building liquidity internally.

Assets reached $21.0B while liabilities reached $18.7B. Return on equity moved to 14.3% and lifted equity, but debt-to-equity still sat at 8.3x, so the earnings recovery rebuilt book value faster than it reduced structural leverage across the balance sheet.

Cash and equivalents were just $63.3M against dividends paid of $283.5M. Because operating cash flow did not cover those payouts, liquidity appears to be managed through market funding and portfolio turnover rather than a large cash buffer—more warehouse than cash box.

Financial Health Signals

Financial Profile 4/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Armour Residential Reit's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Armour Residential Reit has elevated debt relative to equity (D/E of 8.29), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Returns

Armour Residential Reit generates a 14.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from -1.1% the prior year.

Piotroski F-Score Weak

3/9

Armour Residential Reit passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.38x

For every $1 of reported earnings, Armour Residential Reit generates $0.38 in operating cash flow ($124.2M OCF vs $322.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$322.7M

YoY+2341.8%

Armour Residential Reit reported $322.7M in net income in fiscal year 2025. This represents an increase of 2341.8% from the prior year.

EPS (Diluted)

$3.30

YoY+747.1%

Armour Residential Reit earned $3.30 per diluted share (EPS) in fiscal year 2025. This represents an increase of 747.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$63.3M

YoY-6.9%

5Y CAGR-18.1%

10Y CAGR-14.1%

Armour Residential Reit held $63.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$2.88

YoY+0.0%

Armour Residential Reit paid $2.88 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

112M

YoY+46.5%

Armour Residential Reit had 112M shares outstanding in fiscal year 2025. This represents an increase of 46.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

14.3%

YoY+15.3pp

5Y CAGR+37.2pp

10Y CAGR+16.8pp

Armour Residential Reit's ROE was 14.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 15.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$19.9M

YoY+1384.2%

5Y CAGR+91.4%

10Y CAGR-18.0%

Armour Residential Reit spent $19.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1384.2% from the prior year.

Capital Expenditures

N/A

ARR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$3.6M-24.8%	$4.7M-4.2%	$4.9M-9.9%	$5.5M-17.1%	$6.6M+18.2%	$5.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$158.3M+490.8%	$26.8M-1.1%	$27.1M-74.8%	$107.7M+46.7%	$73.4M-31.1%	$106.4M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$322.7M+2341.8%	-$14.4M+78.8%	-$67.9M+70.5%	-$229.9M-1596.6%	$15.4M+107.1%	-$215.1M
EPS (Diluted)	$3.30+747.1%	$-0.51+72.6%	$-1.86	$-10.25-4370.8%	$0.24+106.7%	$-3.57

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$953K	N/A	$926K+4.3%	$888K+9.5%	$811K	N/A	$1.1M+0.2%	$1.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$70.7M	N/A	$38.5M+16.3%	$33.1M-8.9%	$36.3M	N/A	$1.8M-73.6%	$7.0M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$54.9M	N/A	$159.3M+310.6%	-$75.6M-376.6%	$27.3M	N/A	$65.9M+236.3%	-$48.4M
EPS (Diluted)	$-0.49	N/A	$1.49+258.5%	$-0.94-393.8%	$0.32	N/A	$1.21+215.2%	$-1.05

ARR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$21.0B+55.0%	$13.5B+9.7%	$12.3B+30.8%	$9.4B+78.8%	$5.3B-4.5%	$5.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$63.3M-6.9%	$68.0M-69.4%	$221.9M+154.2%	$87.3M-75.5%	$356.2M+107.5%	$171.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$18.7B+53.8%	$12.2B+10.1%	$11.1B+33.0%	$8.3B+101.4%	$4.1B-9.9%	$4.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.3B+66.1%	$1.4B+7.1%	$1.3B+14.3%	$1.1B-2.7%	$1.1B+21.9%	$938.3M
Retained Earnings	-$518.2M+38.4%	-$840.9M-1.7%	-$826.5M-9.0%	-$758.5M-43.5%	-$528.6M+76.8%	-$2.3B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$21.5B+2.1%	$21.0B+8.5%	$19.4B+19.2%	$16.2B+4.8%	$15.5B+14.4%	$13.5B+1.1%	$13.4B+33.3%	$10.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$66.5M+5.1%	$63.3M+43.0%	$44.2M-68.7%	$141.2M+187.4%	$49.1M-27.7%	$68.0M+6.4%	$63.9M-49.5%	$126.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$19.1B+2.0%	$18.7B+8.8%	$17.2B+18.2%	$14.6B+5.7%	$13.8B+13.2%	$12.2B+0.8%	$12.1B+36.0%	$8.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.3B+3.4%	$2.3B+6.2%	$2.1B+28.2%	$1.7B-2.6%	$1.7B+25.2%	$1.4B+3.4%	$1.3B+13.4%	$1.2B
Retained Earnings	-$573.0M-10.6%	-$518.2M+29.0%	-$729.9M+17.9%	-$889.1M-9.3%	-$813.5M+3.3%	-$840.9M-5.8%	-$794.4M+7.7%	-$860.3M

ARR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$124.2M-52.5%	$261.5M+96.9%	$132.8M+7.0%	$124.1M+957.1%	$11.7M+104.6%	-$257.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$7.3B-332.2%	-$1.7B+44.5%	-$3.0B+22.0%	-$3.9B-873.5%	$503.6M-92.9%	$7.1B
Financing Cash Flow	$7.3B+456.9%	$1.3B-57.0%	$3.0B-13.8%	$3.5B+1168.1%	-$330.8M+95.2%	-$6.9B
Dividends Paid	$283.5M+74.0%	$163.0M-28.6%	$228.2M+47.8%	$154.4M+42.8%	$108.1M+24.8%	$86.6M
Share Buybacks	$19.9M+1384.2%	$1.3M-86.5%	$9.9M+29.6%	$7.7M	$0-100.0%	$777K

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$111.6M+213.7%	$35.6M+194.1%	-$37.8M-251.4%	$25.0M-75.4%	$101.5M+12.2%	$90.4M+91.9%	$47.1M+74.0%	$27.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$839.6M+38.2%	-$1.4B+62.5%	-$3.6B-1574.2%	-$216.2M+89.7%	-$2.1B-183.5%	-$737.3M+77.4%	-$3.3B-252.8%	$2.1B
Financing Cash Flow	$652.3M-50.0%	$1.3B-63.2%	$3.5B+911.6%	$350.3M-83.4%	$2.1B+254.0%	$595.0M-81.6%	$3.2B+244.4%	-$2.2B
Dividends Paid	$89.5M+6.8%	$83.8M+5.8%	$79.2M+24.8%	$63.4M+11.1%	$57.1M+24.3%	$45.9M+13.5%	$40.5M+5.8%	$38.3M
Share Buybacks	$2.0M	$0-100.0%	$9.9M-1.1%	$10.0M	$0	$0	$0	$0

ARR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	14.3%+15.3pp	-1.1%+4.3pp	-5.3%+15.3pp	-20.7%-22.0pp	1.3%+24.3pp	-22.9%
Return on Assets	1.5%+1.7pp	-0.1%+0.4pp	-0.5%+1.9pp	-2.4%-2.7pp	0.3%+4.2pp	-3.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.29-0.7	8.95+0.2	8.71+1.2	7.48+3.9	3.61-1.3	4.89
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-2.4%	N/A	7.5%+12.0pp	-4.5%-6.2pp	1.6%	N/A	5.0%+9.2pp	-4.2%
Return on Assets	-0.3%	N/A	0.8%+1.3pp	-0.5%-0.7pp	0.2%	N/A	0.5%+1.0pp	-0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.18-0.1	8.29+0.2	8.09-0.7	8.78+0.7	8.10-0.9	8.95-0.2	9.18+1.5	7.66
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Armour Residential Reit profitable?

Yes, Armour Residential Reit (ARR) reported a net income of $322.7M in fiscal year 2025.

Does Armour Residential Reit pay dividends?

Yes, Armour Residential Reit (ARR) paid $2.88 per share in dividends during fiscal year 2025.

What is Armour Residential Reit's return on equity (ROE)?

Armour Residential Reit (ARR) has a return on equity of 14.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Armour Residential Reit's operating cash flow?

Armour Residential Reit (ARR) generated $124.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Armour Residential Reit's total assets?

Armour Residential Reit (ARR) had $21.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Armour Residential Reit buy back shares?

Yes, Armour Residential Reit (ARR) spent $19.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Armour Residential Reit have outstanding?

Armour Residential Reit (ARR) had 112M shares outstanding as of fiscal year 2025.

What is Armour Residential Reit's debt-to-equity ratio?

Armour Residential Reit (ARR) had a debt-to-equity ratio of 8.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Armour Residential Reit's return on assets (ROA)?

Armour Residential Reit (ARR) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Armour Residential Reit's Piotroski F-Score?

Armour Residential Reit (ARR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Armour Residential Reit's earnings high quality?

Armour Residential Reit (ARR) has an earnings quality ratio of 0.38x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Armour Residential Reit?

Armour Residential Reit (ARR) scores 4 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.