Chimera Investment Corporation (CIM) vs PennyMac Mortgage Investment Trust (PMT)

Chimera Investment Corporation and PennyMac Mortgage Investment Trust are both Reit Mortgage companies. Chimera Investment Corporation and PennyMac Mortgage Investment Trust are of similar size ($717.7M and $663.0M). Chimera Investment Corporation has negative trailing earnings, so its P/E is not meaningful; PennyMac Mortgage Investment Trust trades at 17.9×. Chimera Investment Corporation grew revenue faster over the last twelve months: 12.4% against 11.4%. PennyMac Mortgage Investment Trust has the higher net margin (3.52% vs −28.7%) and the higher return on invested capital (2.53% vs 0.00%). Both pay a dividend; Chimera Investment Corporation yields more (21.7% vs 19.4%). Across the 21 metrics below, PennyMac Mortgage Investment Trust leads on 11 and Chimera Investment Corporation on 10.

Valuation

Metric CIM PMT Reit Mortgage median
P/E n/m 17.89 14.55
P/S 0.74 0.62 1.72
P/B 0.31 0.58 0.52
Price to free cash flow n/m n/m 4.35
EV/EBITDA 144.36 23.13 28.27
EV/Sales 15.42 19.58 15.73
Earnings yield (38.69%) 5.59% 0.23%
Free cash flow yield (97.83%) (1,576.58%) 13.86%

Profitability

Metric CIM PMT Reit Mortgage median
Gross margin 100.00% 90.73% 100.00%
Operating margin 0.00% 83.11% 31.94%
Net margin (28.72%) 3.52% (1.81%)
Free cash flow margin (72.76%) (979.57%) 27.05%
Return on equity (10.81%) 3.16% (0.49%)
Return on assets (1.61%) 0.18% (0.06%)
Return on invested capital 0.00% 2.53% 0.79%

Growth

Metric CIM PMT Reit Mortgage median
Revenue growth (TTM) 12.42% 11.44% 1.39%
EPS growth (last fiscal year) 56.36% (27.74%) 45.25%
Revenue growth, 5-year CAGR (4.43%) 9.74% 14.60%
Net income growth, 5-year CAGR 57.09% 25.95% 0.00%

Health

Metric CIM PMT Reit Mortgage median
Debt to equity 0.00 12.46 2.91
Current ratio 0.07 1.60 0.82
Net debt to EBITDA 41.37 16.25 18.31

Dividend

Metric CIM PMT Reit Mortgage median
Dividend yield 21.74% 19.44% 17.37%
Payout ratio — 3.48 1.87

Size

Metric CIM PMT Reit Mortgage median
Market cap 663.00m 717.68m 409.49m

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