Starwood Property Trust (STWD) Operating Expenses (2010 - 2026)
Starwood Property Trust (STWD) posted Operating Expenses of $524.8 million for Q2 2026, up 9.26% on a QoQ basis from $480.3 million in Q1 2026, and up 21.9% year-over-year from $430.5 million in Q2 2025.
Analysis
Starwood Property Trust (STWD) Operating Expenses (2010 - 2026) Analysis & Trends
Starwood Property Trust has reported Operating Expenses for 17 years, with the latest figure at $524.8 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 21.9% year-over-year to $524.8 million in Q2 2026; TTM through Jun 2026 was $2.0 billion, a 10.06% increase from a year earlier, with the FY2025 full-year figure at $1.8 billion, down 9.86% from the prior year.
- Operating Expenses was $524.8 million for Q2 2026 at Starwood Property Trust, up from $480.3 million in the prior quarter.
- The five-year high for Operating Expenses was $583.5 million in Q2 2023, with the low at $243.8 million in Q1 2022.
- Average Operating Expenses over 5 years is $452.5 million, with a median of $483.9 million recorded in 2023.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses soared 122.44% in 2023, then declined 24.56% in 2025.
- Over 5 years, Operating Expenses stood at $430.2 million in 2022, then rose by 18.54% to $509.9 million in 2023, then retreated by 6.06% to $479.0 million in 2024, then rose by 0.71% to $482.4 million in 2025, then grew by 8.78% to $524.8 million in 2026.
- The last three Operating Expenses figures came in at $524.8 million (Q2 2026), $480.3 million (Q1 2026), and $482.4 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.87 Bn | 13.96 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.43 Bn | 11.10 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.84 Bn | 3.67 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.57 Bn | 5.57 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.88 Bn | 2.27 Bn | - | 16.21 Mn |
| 6 | Two Harbors Investment | 2.65 Bn | 2.01 Bn | - | 51.40 Mn |
| 7 | Blackstone Mortgage Trust | 2.35 Bn | 1.91 Bn | - | 111.00 Mn |
| 8 | Armour Residential REIT | 2.11 Bn | 2.02 Bn | - | 17.16 Mn |
| 9 | Ellington Financial | 1.71 Bn | 1.46 Bn | - | 76.02 Mn |
| 10 | Orchid Island Capital | 1.32 Bn | 637.53 Mn | 61.82 Mn | 6.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 524.77 Mn |
| Mar 31, 2026 | 480.31 Mn |
| Dec 31, 2025 | 482.42 Mn |
| Sep 30, 2025 | 489.44 Mn |
| Jun 30, 2025 | 430.48 Mn |
| Mar 31, 2025 | 384.22 Mn |
| Dec 31, 2024 | 479.01 Mn |
| Sep 30, 2024 | 502.58 Mn |
| Jun 30, 2024 | 491.18 Mn |
| Mar 31, 2024 | 509.31 Mn |
| Dec 31, 2023 | 509.92 Mn |
| Sep 30, 2023 | 519.60 Mn |
| Jun 30, 2023 | 583.45 Mn |
| Mar 31, 2023 | 485.34 Mn |
| Dec 31, 2022 | 430.18 Mn |
| Sep 30, 2022 | 336.65 Mn |
| Jun 30, 2022 | 262.30 Mn |
| Mar 31, 2022 | 243.82 Mn |
| Dec 31, 2021 | 298.89 Mn |
| Sep 30, 2021 | 231.35 Mn |