Chimera Investment Corporation (CIM) vs Franklin BSP Realty Trust, Inc. (FBRT)

Chimera Investment Corporation and Franklin BSP Realty Trust, Inc. are both Reit Mortgage companies. Chimera Investment Corporation is the larger, with a market value of $715.7M against $520.7M — 1.4× the size. Chimera Investment Corporation has negative trailing earnings, so its P/E is not meaningful; Franklin BSP Realty Trust, Inc. trades at 14.1×. Franklin BSP Realty Trust, Inc. grew revenue faster over the last twelve months: 37.0% against 11.6%. Franklin BSP Realty Trust, Inc. has the higher net margin (12.2% vs −9.71%) and the higher return on invested capital (0.78% vs 0.40%). Both pay a dividend; Chimera Investment Corporation yields more (20.5% vs 15.4%). Across the 21 metrics below, Franklin BSP Realty Trust, Inc. leads on 14 and Chimera Investment Corporation on 7.

Valuation

Metric CIM FBRT Reit Mortgage median
P/E n/m 14.14 7.10
P/S 0.81 1.56 1.77
P/B 0.29 0.40 0.55
Price to free cash flow n/m 2.65 5.36
EV/EBITDA 143.87 52.44 28.29
EV/Sales 15.75 14.69 15.90
Earnings yield (12.14%) 7.07% 8.10%
Free cash flow yield (54.85%) 37.68% 13.00%

Profitability

Metric CIM FBRT Reit Mortgage median
Gross margin 100.00% 92.00% 100.00%
Operating margin 11.33% 22.30% 35.40%
Net margin (9.71%) 12.19% 11.85%
Free cash flow margin (44.37%) 58.62% 26.68%
Return on equity (3.35%) 3.05% 4.81%
Return on assets (0.55%) 0.62% 0.62%
Return on invested capital 0.40% 0.78% 1.22%

Growth

Metric CIM FBRT Reit Mortgage median
Revenue growth (TTM) 11.64% 36.99% 4.70%
EPS growth (last fiscal year) 56.36% (21.95%) 45.25%
Revenue growth, 5-year CAGR (4.43%) 18.09% 14.60%
Net income growth, 5-year CAGR 57.09% 6.78% 0.00%

Health

Metric CIM FBRT Reit Mortgage median
Debt to equity 5.57 2.85 3.30
Current ratio 0.07 96.80 1.00
Net debt to EBITDA 41.37 43.97 18.31

Dividend

Metric CIM FBRT Reit Mortgage median
Dividend yield 20.48% 15.35% 17.34%
Payout ratio — 2.17 1.28

Size

Metric CIM FBRT Reit Mortgage median
Market cap 715.74m 520.69m 479.53m

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