Angel Oak Mortgage REIT Inc. (AOMR) vs Chicago Atlantic Real Estate Finance, Inc. (REFI)

Angel Oak Mortgage REIT Inc. and Chicago Atlantic Real Estate Finance, Inc. are both Reit Mortgage companies. Chicago Atlantic Real Estate Finance, Inc. is the larger, with a market value of $229.1M against $144.4M — 1.6× the size. Angel Oak Mortgage REIT Inc. has negative trailing earnings, so its P/E is not meaningful; Chicago Atlantic Real Estate Finance, Inc. trades at 6.5×. Angel Oak Mortgage REIT Inc. grew revenue faster over the last twelve months: 19.9% against −3.77%. Chicago Atlantic Real Estate Finance, Inc. has the higher net margin (54.6% vs −5.74%) and the higher return on invested capital (6.47% vs −3.56%). Both pay a dividend; Chicago Atlantic Real Estate Finance, Inc. yields more (20.9% vs 20.7%). Across the 18 metrics below, Chicago Atlantic Real Estate Finance, Inc. leads on 14 and Angel Oak Mortgage REIT Inc. on 4.

Valuation

Metric AOMR REFI Reit Mortgage median
P/E n/m 6.46 14.55
P/S 0.88 3.54 1.72
P/B 0.68 0.63 0.52
Price to free cash flow n/m 7.09 4.35
EV/EBITDA 87.01 6.44 28.27
EV/Sales 13.16 3.29 15.73
Earnings yield (6.80%) 15.48% 0.23%
Free cash flow yield (238.91%) 14.11% 13.86%

Profitability

Metric AOMR REFI Reit Mortgage median
Gross margin 26.89% 100.00% 100.00%
Operating margin (5.60%) 55.37% 31.94%
Net margin (5.74%) 54.57% (1.81%)
Free cash flow margin (209.10%) 49.97% 27.05%
Return on equity (3.96%) 9.61% (0.49%)
Return on assets (0.34%) 6.41% (0.06%)
Return on invested capital (3.56%) 6.47% 0.79%

Growth

Metric AOMR REFI Reit Mortgage median
Revenue growth (TTM) 19.85% (3.77%) 1.39%
EPS growth (last fiscal year) 53.85% (10.64%) 45.25%
Revenue growth, 5-year CAGR 28.61% — 14.60%
Net income growth, 5-year CAGR 127.59% — 0.00%

Health

Metric AOMR REFI Reit Mortgage median
Debt to equity 0.00 0.00 2.91
Current ratio 7.16 0.09 0.82
Net debt to EBITDA 39.70 (0.44) 18.31

Dividend

Metric AOMR REFI Reit Mortgage median
Dividend yield 20.71% 20.94% 17.37%
Payout ratio 1.71 1.37 1.87

Size

Metric AOMR REFI Reit Mortgage median
Market cap 144.36m 229.05m 409.49m

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