| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡ |
|
| 2027 | ‡‡‡ |
|
| 2026 | 1.80 |
—
—
|
| 2025 | 1.48 |
—
—
—
—
|
| 2024 | 1.42 |
—
—
—
—
|
| 2023 | 2.10 |
—
—
—
—
|
| 2022 | 3.36 |
—
—
—
—
|
| 2021 | 3.87 |
—
—
—
—
|
| 2020 | 4.20 |
—
—
—
—
|
| 2019 | 6.00 |
—
—
—
—
|
| 2018 | 6.00 |
—
—
—
—
|
| 2017 | 6.50 |
—
—
—
—
—
|
| 2016 | 5.82 |
—
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 221.68 | 84.00 | 278.58 | 444.04 |
| Receivables | 76.96 | 81.39 | 115.99 | 111.89 |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 298.64 | 165.38 | 394.57 | 555.93 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 9.36 | 45.08 | 82.31 | 95.52 |
| ST’ Debt | 2,507.13 | 2,895.62 | 6,097.76 | 7,789.48 |
| Other | — | — | — | — |
| 2,554.75 | 2,982.17 | 6,223.10 | 7,926.62 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 219.30 | 221.63 | — | — |
—
|
| ’25 | 190.62 | 201.30 | 209.10 | 220.33 |
821.34
|
| ’24 | 186.57 | 186.72 | 195.30 | 192.36 |
760.95
|
| ’23 | 189.25 | 196.86 | 195.59 | 191.20 |
772.90
|
| ’22 | 202.18 | 195.36 | 188.30 | 187.29 |
773.12
|
| ’21 | 243.13 | 252.68 | 220.58 | 221.16 |
937.55
|
| ’20 | 300.27 | 245.92 | 247.91 | 236.16 |
1,030.25
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 243.32 | (339.22) | — | — |
—
|
| ’25 | 48.80 | (7.43) | (137.48) | (152.77) |
(248.88)
|
| ’24 | 57.27 | 69.03 | 41.42 | 37.95 |
205.67
|
| ’23 | 30.44 | 106.82 | 44.68 | 31.33 |
213.27
|
| ’22 | 135.92 | 122.74 | 40.63 | 26.44 |
325.72
|
| ’21 | 122.20 | 137.29 | 150.60 | 109.09 |
519.18
|
| ’20 | (419.46) | 437.57 | 162.52 | 77.28 |
257.90
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 243.32 | (339.22) | — | — |
—
|
| ’25 | 48.80 | (7.43) | (137.48) | (152.77) |
(248.88)
|
| ’24 | 57.27 | 69.03 | 41.42 | 37.95 |
205.67
|
| ’23 | 30.44 | 106.82 | 44.68 | 31.33 |
213.27
|
| ’22 | 135.92 | 122.74 | 40.63 | 26.44 |
325.72
|
| ’21 | 122.20 | 137.29 | 150.60 | 109.09 |
519.18
|
| ’20 | (419.46) | 437.57 | 162.52 | 77.28 |
257.90
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.78) | (0.05) | — | — |
—
|
| ’25 | 1.77 | 0.17 | (0.27) | 0.08 |
1.72
|
| ’24 | 1.35 | 0.41 | 1.39 | (2.07) |
1.10
|
| ’23 | 0.51 | 0.24 | (0.21) | 0.15 |
0.69
|
| ’22 | (3.57) | (2.28) | (2.64) | 1.02 |
(7.53)
|
| ’21 | 1.62 | 1.80 | 3.90 | 0.00 |
7.32
|
| ’20 | (6.24) | (1.11) | 3.96 | 1.47 |
0.21
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.73 | 13.35 | 11.29 | 9.85 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 46.83 | 23.43 | 16.89 | 15.37 | — | — | — |
High Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 39 | 39 | 77 | 423 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.82 | 19.82 | 9.88 | 1.94 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 773.12 | 772.90 | 760.95 | 821.34 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 100.00% | 100.00% | 100.00% | 100.00% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (513.32) | 126.21 | 176.11 | 232.77 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (66.40%) | 16.33% | 23.14% | 28.34% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (513.07) | 126.10 | 176.07 | 230.50 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 61.23 | 48.17 | 19.02 | 1.09 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.91 | 10.08 | 9.40 | 10.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | (7.53) | 0.69 | 1.12 | 1.76 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.18 | 2.78 | 2.54 | (3.03) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.18 | 2.78 | 2.54 | (3.03) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.20 | 33.37 | 31.20 | 31.31 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 77.98 | 76.69 | 80.98 | 82.18 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 0.00 | 21.56 | 12.28 | 7.02 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.78 | 1.48 | 1.49 | 1.24 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.52 | 0.45 | 0.45 | 0.40 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.16 | 14.27 | 14.54 | 16.82 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 35.99 | 51.71 | 53.80 | (55.50) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 325.72 | 213.27 | 205.67 | (248.88) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 325.72 | 213.27 | 205.67 | (248.88) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3,155.71) | (2,256.11) | (2,816.78) | (5,828.53) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10,614.05 | 10,109.01 | 10,014.76 | 13,070.59 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10,349.45 | 9,887.32 | 9,930.76 | 12,792.01 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,666.80 | 2,558.92 | 2,526.19 | 2,572.69 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.07%) | 0.40% | 0.69% | 1.00% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.79%) | 1.06% | 1.10% | 1.25% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.33%) | 2.00% | 3.55% | 5.67% | — | — | — |
ROE
|
Chimera Investment Corporation (CIM), a leveraged mortgage REIT centered on agency RMBS, continues to navigate treacherous waters after a decade of rate volatility crushed its revenue from a 2019 peak of $1.36 billion to $761 million in 2024—a 44% erosion—amid portfolio shrinkage and margin compression. Forecasts paint a grim near-term picture: revenue halving to $302 million in 2025 before a modest rebound, juxtaposed against optimistic net income jumps to $226 million, raising skepticism about underlying assumptions like heroic cost cuts or asset sales. Book value per share has plunged 51% to $31.20, with leverage ratios flashing red flags on a $10 billion debt pile, underscoring risks to dividend sustainability and ROE in a high-rate environment.
Valuation metrics scream bargain—PB at 0.45x, PS at 1.5x, forward PE at 5.5x on projected $2.24 EPS—but contrarians warn of a value trap, as stock prices decoupled from decaying fundamentals amid 2022’s rate shock. A rare insider director buy in March 2025 offers a glimmer of confidence, potentially fueling a rally if Fed cuts materialize and enable RMBS redeployment. Yet, analyst targets imply just 7% upside, ignoring storm clouds like repo rate spikes, recession refi risks, and competition from bond ETFs.
CIM embodies mREIT volatility: deleveraging post-2022 losses stabilized the ship, but revenue cliffs, eroding efficiency (revenue per employee down 50%), and duration mismatches leave it coiled like a spring—poised for snapback or snap. Investors eyeing yield must weigh rosy forecasts against historical tantrums; the full analysis unpacks if this is coiled opportunity or leverage’s blade.
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