Chimera Investment Corporation (CIM) vs INVESCO MORTGAGE CAPITAL INC (IVR)

Chimera Investment Corporation and INVESCO MORTGAGE CAPITAL INC are both Reit Mortgage companies. Chimera Investment Corporation is the larger, with a market value of $882.3M against $693.2M — 1.3× the size. Chimera Investment Corporation has negative trailing earnings, so its P/E is not meaningful; INVESCO MORTGAGE CAPITAL INC trades at 4.3×. Chimera Investment Corporation grew revenue faster over the last twelve months: 11.6% against 7.29%. INVESCO MORTGAGE CAPITAL INC has the higher net margin (33.9% vs −9.71%) and the higher return on invested capital (0.69% vs 0.40%). Both pay a dividend; INVESCO MORTGAGE CAPITAL INC yields more (18.8% vs 15.5%). Across the 21 metrics below, INVESCO MORTGAGE CAPITAL INC leads on 12 and Chimera Investment Corporation on 9.

Valuation

Metric CIM IVR Reit Mortgage median
P/E n/m 4.33 7.80
P/S 1.00 1.93 1.90
P/B 0.36 0.74 0.61
Price to free cash flow n/m 3.66 5.90
EV/EBITDA 145.58 100.35 28.40
EV/Sales 15.94 23.17 16.02
Earnings yield (9.86%) 23.09% 7.68%
Free cash flow yield (44.56%) 27.29% 11.60%

Profitability

Metric CIM IVR Reit Mortgage median
Gross margin 100.00% 30.40% 100.00%
Operating margin 11.33% 24.27% 35.40%
Net margin (9.71%) 33.93% 11.85%
Free cash flow margin (44.37%) 52.56% 26.68%
Return on equity (3.35%) 15.68% 4.81%
Return on assets (0.55%) 1.70% 0.62%
Return on invested capital 0.40% 0.69% 1.22%

Growth

Metric CIM IVR Reit Mortgage median
Revenue growth (TTM) 11.64% 7.29% 4.70%
EPS growth (last fiscal year) 56.36% 103.08% —
Revenue growth, 5-year CAGR (4.43%) 1.06% 14.60%
Net income growth, 5-year CAGR 57.09% 0.00% 0.00%

Health

Metric CIM IVR Reit Mortgage median
Debt to equity 5.57 6.27 3.30
Current ratio 0.07 0.04 1.00
Net debt to EBITDA 41.37 105.08 18.31

Dividend

Metric CIM IVR Reit Mortgage median
Dividend yield 15.52% 18.77% 13.05%
Payout ratio 1.86 0.41 1.24

Size

Metric CIM IVR Reit Mortgage median
Market cap 882.32m 693.21m 517.48m

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