Starwood Property Trust (STWD) Operating Expenses (2010 - 2026)
Starwood Property Trust (STWD) posted quarterly Operating Expenses of $480.3 million for Q1 2026, up 25.01% year-over-year from $384.2 million in Q1 2025, and little changed quarter-over-quarter from $482.4 million in Q4 2025.
Starwood Property Trust (STWD) Operating Expenses (2010 - 2026) Analysis & Trends
Starwood Property Trust's Operating Expenses history runs 17 years deep, the most recent figure standing at $480.3 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 25.01% year-over-year to $480.3 million; the TTM figure through Mar 2026 stood at $1.9 billion (up 1.38% YoY), while the FY2025 annual figure was $1.8 billion, down 9.86% from the prior year.
- Operating Expenses for Q1 2026 stood at $480.3 million, roughly flat from $482.4 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.
- The 5-year median for Operating Expenses is $482.4 million (2025), against an average of $448.2 million.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses jumped 122.44% in 2023, then slipped 24.56% in 2025.
- Starwood Property Trust's Operating Expenses stood at $430.2 million in 2022, then grew by 18.54% to $509.9 million in 2023, then declined by 6.06% to $479.0 million in 2024, then grew by 0.71% to $482.4 million in 2025, then decreased by 0.44% to $480.3 million in 2026.
- Business Quant data shows STWD's Operating Expenses at $480.3 million in Q1 2026, $482.4 million in Q4 2025, and $489.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 17.29 Bn | 14.38 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.65 Bn | 11.32 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.95 Bn | 3.79 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.71 Bn | 5.71 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.93 Bn | 2.32 Bn | - | 16.21 Mn |
| 6 | Blackstone Mortgage Trust | 2.40 Bn | 1.97 Bn | - | 111.00 Mn |
| 7 | Armour Residential REIT | 2.12 Bn | 2.03 Bn | - | 17.16 Mn |
| 8 | Ellington Financial | 1.73 Bn | 1.49 Bn | - | 76.02 Mn |
| 9 | Orchid Island Capital | 1.34 Bn | 654.61 Mn | 61.82 Mn | 6.76 Mn |
| 10 | Two Harbors Investment | 1.26 Bn | 617.08 Mn | - | 51.40 Mn |
Historic Data
Download 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 |