ARMOUR Residential REIT, Inc. ARR

FinancialsResidential & Commercial REITsUnited States of America

Last close 12.79 USD on Nov 1, 2026, −18.8% year to date

Quant rating

Quant rating C Rank 400 of 799 in Financials

Growth C 324 of 799
Valuation A 107 of 799
Quality C 352 of 799
Revisions B 279 of 799
Momentum D 732 of 799

Wall Street consensus Buy (2.50)Average target 15.56 USD +21.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.8B
Enterprise value: 21.1B
52-week range: 12.28 – 19.30
3-year range: 12.28 – 21.65
Dividend yield: 23.13%
Beta (5 years): 1.44
Shares outstanding: 148M
Next earnings: Feb 16, 2027

About the company

ARMOUR Residential REIT, Inc. is a real estate investment trust. The Company invests primarily in fixed-rate residential, adjustable rate and hybrid adjustable-rate residential mortgage-backed securities issued or guaranteed by United States Government-sponsored enterprises or guaranteed by the Government National Mortgage Association. It brings private capital into the mortgage markets to support home ownership for a broad and diverse spectrum of Americans. It seeks to create stockholder value through investment and risk management of a leveraged and diversified portfolio of mortgage-backed securities (MBS). It invests in MBS, issued or guaranteed by a United States Government-sponsored entity (GSE), such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a government agency such as Government National Mortgage Administration (Agency Securities). The Company is externally managed and advised by ARMOUR Capital Management LP.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,020	563	501	−67.1	57.4	–
Revenue growth	81.0%	12.4%	847.1%	−217.0%	148.2%	–
EPS (basic, normalized)	3.02	3.68	4.65	5.75	4.80	–
EPS growth	−17.9%	−20.9%	−19.1%	19.8%	–	–
Gross margin	33.2%	1.1%	−11.2%	–	48.4%	17.9%
Net margin	30.5%	−4.7%	−15.9%	–	6.8%	4.2%
ROE	17.8%	−1.1%	−5.7%	−20.4%	1.5%	−1.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	99.7
Current ratio	–
Long-term debt (mil)	0
Net debt (mil)	19,279
Total equity (mil)	2,351
Net debt / equity	8.20x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,020	+81.0%	20.7x	–	–	–	3.02	−17.9%	4.2x
2026	315	−69.1%	67.2x	–	–	–	2.88	−4.5%	4.4x
2027	419	+33.2%	50.4x	–	–	–	2.86	−0.8%	4.5x
2028	512	+22.1%	41.3x	–	–	–	2.90	+1.1%	4.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	315	−0.1%	−0.1%	−14.8%	2.88	−0.9%	−1.0%	−3.7%
2027	419	−5.7%	−5.7%	+3.9%	2.86	−2.3%	−2.4%	−9.5%
2028	512	0.0%	0.0%	+4.2%	2.90	0.0%	+3.0%	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	5.3	7.0	1.8	12.7	36.3	33.1	38.5	50.4	70.7	76.8
Sales mean (mil)	65.8	53.4	50.8	47.6	47.1	54.9	59.4	59.1	80.0	89.0
Surprise	−91.9%	−86.9%	−96.4%	−73.3%	−23.0%	−39.7%	−35.1%	−14.7%	−11.6%	−13.7%
EPS reported	0.82	1.08	1.00	0.78	0.86	0.77	0.72	0.71	0.76	0.72
EPS mean	0.97	0.99	0.99	0.98	0.88	0.82	0.71	0.78	0.74	0.74
Surprise	−15.2%	+9.5%	+1.4%	−20.7%	−2.3%	−6.6%	+0.8%	−8.4%	+2.7%	−3.0%

Peer comparison Residential & Commercial REITs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ARR ARMOUR Residential REIT, Inc.	1.8B	–	30.5%	0.79x	4.4x	4.5x	–	–
SUI Sun Communities Inc	13.5B	2.94x	−3.0%	2.51x	132.0x	37.0x	15.5x	16.7x
NLY Annaly Capital Management, Inc.	14.4B	–	26.2%	0.90x	5.8x	5.9x	24.0x	19.4x
AGNC AGNC Investment Corp.	11.0B	–	32.5%	0.94x	5.6x	5.9x	63.8x	63.5x
RITM Rithm Capital Corp.	5.2B	–	11.9%	0.60x	4.0x	4.0x	–	–
STWD Starwood Property Trust Inc (Maryland)	4.5B	–	21.2%	0.70x	7.8x	6.4x	18.1x	15.7x
Mean		2.94x	19.9%	1.07x	26.6x	10.6x	30.4x	28.8x
Median		2.94x	23.7%	0.85x	5.7x	5.9x	21.0x	18.0x

Technical analysis

1M−9.4%
3M−20.4%
1Y−9.3%
3Y+51.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ARMOUR Residential REIT, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,020	563	501	−67.1	57.4	−119
Cost of revenue	681	557	557	147	29.6	83.7
Gross profit	339	6.1	−56.0	−214	27.8	−203
Selling, general & administrative expenses	3.6	4.7	4.9	5.5	10.1	10.1
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	0	0	4.2	0	1.0
Other operating expenses	12.3	15.8	7.0	6.4	2.3	1.1
Operating income	323	−14.4	−67.9	−230	15.4	−215
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	323	−14.4	−67.9	−230	15.4	−215
Provision for taxes	–	–	–	–	–	–
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	323	−14.4	−67.9	−230	15.4	−215
Extraordinary items	–	–	–	–	–	–
Net income	323	−14.4	−67.9	−230	15.4	−215
EBIT, normalized	323	−14.4	−67.9	−226	15.4	−214
EBITDA, normalized	–	–	–	–	–	–
Basic EPS, normalized	3.02	3.68	4.65	5.75	4.80	–

Balance sheet in millions of USD, fiscal years

Balance sheet, ARMOUR Residential REIT, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	63.3	68.0	222	87.3	338	168
Receivables	86.2	52.9	47.1	28.8	10.6	12.8
Total inventory	–	–	–	–	–	–
Prepaid expenses	1.2	1.0	0.9	1.7	0.5	2.0
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	–	–	–	–	–	–
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	20,016	12,440	11,160	8,199	4,606	5,178
Note receivable	–	–	–	–	–	–
Other long-term assets	989	1,108	1,184	1,238	671	346
Total assets	21,005	13,548	12,344	9,437	5,277	5,524
Liabilities
Accounts payable	0	493	350	503	–	–
Payable/accrued	2.2	4.7	6.7	6.4	2.7	2.6
Accrued expenses	59.3	35.9	31.6	22.5	0.9	1.6
Short-term debt	17,942	10,714	9,648	6,463	3,948	4,536
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	0	0	0	0	0	0
Minority interest	–	–	–	–	–	–
Other liabilities	18,744	12,187	11,073	8,325	4,134	4,586
Total liabilities	18,744	12,187	11,073	8,325	4,134	4,586
Shareholders' equity
Preferred stock	–	–	–	–	–	0
Common stock	0.1	0.1	0	0.2	0.1	0.1
Additional paid-in capital	5,446	4,586	4,318	3,875	3,403	3,033
Retained earnings (accumulated deficit)	−518	−841	−826	−759	−2,367	−2,274
Treasury stock	–	–	–	–	–	–
Other equity	−2,667	−2,384	−2,221	−2,004	107	179
Total equity	2,261	1,361	1,271	1,112	1,144	938
Total liabilities & shareholders' equity	21,005	13,548	12,344	9,437	5,277	5,524

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ARMOUR Residential REIT, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	323	−14.4	−67.9	−230	15.4	−215
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	−186	280	209	348	−6.2	−40.3
Changes in working capital	−12.3	−3.7	−8.3	6.5	2.6	−2.4
Cash from operations	124	261	133	124	11.7	−258
Investing activities
Capital expenditures	–	–	–	–	–	–
Other investing cash flows	−7,285	−1,686	−3,039	−3,895	504	7,086
Cash from investing	−7,285	−1,686	−3,039	−3,895	504	7,086
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−283	−163	−228	−154	−108	−85.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	7,588	1,474	3,275	3,687	−223	−6,844
Cash from financing	7,305	1,312	3,047	3,533	−331	−6,929
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	144	−113	141	−238	185	−101
Free cash flow	124	261	133	124	11.7	−258

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.