Chimera Investment Corporation (CIM) vs Dynex Capital, Inc. (DX)

Chimera Investment Corporation and Dynex Capital, Inc. are both Reit Mortgage companies. Dynex Capital, Inc. is the larger, with a market value of $2.8B against $663.0M — 4.2× the size. Chimera Investment Corporation has negative trailing earnings, so its P/E is not meaningful; Dynex Capital, Inc. trades at 47.2×. Dynex Capital, Inc. grew revenue faster over the last twelve months: 140.4% against 12.4%. Dynex Capital, Inc. has the higher net margin (−5.66% vs −28.7%) and the higher return on invested capital (2.47% vs 0.00%). Both pay a dividend; Chimera Investment Corporation yields more (21.7% vs 19.0%). Across the 20 metrics below, Dynex Capital, Inc. leads on 14 and Chimera Investment Corporation on 6.

Valuation

Metric CIM DX Reit Mortgage median
P/E n/m 47.21 14.55
P/S 0.74 2.53 1.72
P/B 0.31 0.96 0.52
Price to free cash flow n/m 10.84 4.35
EV/EBITDA 144.36 24.61 28.27
EV/Sales 15.42 23.45 15.73
Earnings yield (38.69%) 2.12% 0.23%
Free cash flow yield (97.83%) 9.22% 13.86%

Profitability

Metric CIM DX Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 93.76% 31.94%
Net margin (28.72%) (5.66%) (1.81%)
Free cash flow margin (72.76%) 23.35% 27.05%
Return on equity (10.81%) (2.59%) (0.49%)
Return on assets (1.61%) (0.29%) (0.06%)
Return on invested capital 0.00% 2.47% 0.79%

Growth

Metric CIM DX Reit Mortgage median
Revenue growth (TTM) 12.42% 140.39% 1.39%
EPS growth (last fiscal year) 56.36% 65.77% 45.25%
Revenue growth, 5-year CAGR (4.43%) 40.78% 14.60%
Net income growth, 5-year CAGR 57.09% 14.06% 0.00%

Health

Metric CIM DX Reit Mortgage median
Debt to equity 0.00 7.93 2.91
Current ratio 0.07 1.15 0.82
Net debt to EBITDA 41.37 25.53 18.31

Dividend

Metric CIM DX Reit Mortgage median
Dividend yield 21.74% 18.98% 17.37%
Payout ratio — 9.37 1.87

Size

Metric CIM DX Reit Mortgage median
Market cap 663.00m 2.79b 409.49m

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