Blackstone Mortgage Trust, Inc. (BXMT) vs MFA Financial, Inc. (MFA)

Blackstone Mortgage Trust, Inc. and MFA Financial, Inc. are both Reit Mortgage companies. Blackstone Mortgage Trust, Inc. is the larger, with a market value of $2.1B against $824.9M — 2.5× the size. MFA Financial, Inc. trades at the lower P/E: 8.0× against 140×. MFA Financial, Inc. grew revenue faster over the last twelve months: 4.90% against −3.63%. MFA Financial, Inc. has the higher net margin (13.8% vs 1.00%) and the lower return on invested capital (2.88% vs 3.82%). Both pay a dividend; Blackstone Mortgage Trust, Inc. yields more (13.4% vs 13.1%). Across the 22 metrics below, MFA Financial, Inc. leads on 14 and Blackstone Mortgage Trust, Inc. on 8.

Valuation

Metric BXMT MFA Reit Mortgage median
P/E 140.00 8.01 7.80
P/S 1.38 1.11 1.90
P/B 0.65 0.48 0.61
Price to free cash flow 6.49 2.36 5.90
EV/EBITDA 14.75 19.88 28.40
EV/Sales 11.35 15.94 16.02
Earnings yield 0.71% 12.48% 7.68%
Free cash flow yield 15.41% 42.40% 11.60%

Profitability

Metric BXMT MFA Reit Mortgage median
Gross margin 81.49% 100.00% 100.00%
Operating margin 73.85% 79.06% 35.40%
Net margin 1.00% 13.82% 11.85%
Free cash flow margin 21.32% 46.95% 26.68%
Return on equity 0.45% 5.88% 4.81%
Return on assets 0.08% 0.83% 0.62%
Return on invested capital 3.82% 2.88% 1.22%

Growth

Metric BXMT MFA Reit Mortgage median
Revenue growth (TTM) (3.63%) 4.90% 4.70%
EPS growth (last fiscal year) 154.70% 58.54% —
Revenue growth, 5-year CAGR 14.60% 11.47% 14.60%
Net income growth, 5-year CAGR (4.46%) 0.00% 0.00%

Health

Metric BXMT MFA Reit Mortgage median
Debt to equity 4.83 6.56 3.30
Current ratio 0.00 0.00 1.00
Net debt to EBITDA 12.49 17.85 18.31

Dividend

Metric BXMT MFA Reit Mortgage median
Dividend yield 13.37% 13.05% 13.05%
Payout ratio 1.56 1.51 1.24

Size

Metric BXMT MFA Reit Mortgage median
Market cap 2.09b 824.88m 517.48m

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