DeFi Development Corp. (DFDV) vs Ellington Credit Company (EARN)

DeFi Development Corp. and Ellington Credit Company are both Asset Management companies. DeFi Development Corp. is the larger, with a market value of $189.5M against $159.2M — 1.2× the size. DeFi Development Corp. has negative trailing earnings, so its P/E is not meaningful; Ellington Credit Company trades at 14.2×. DeFi Development Corp. grew revenue faster over the last twelve months: 328.6% against 17.2%. Ellington Credit Company has the higher net margin (13.2% vs −1,319.5%) and the higher return on invested capital (1.60% vs −79.9%). Across the 18 metrics below, Ellington Credit Company leads on 11 and DeFi Development Corp. on 7.

Valuation

Metric DFDV EARN Asset Management median
P/E n/m 14.20 14.62
P/S 10.95 2.01 2.97
P/B n/m 0.52 0.94
Price to free cash flow n/m 12.70 8.93
EV/EBITDA n/m 27.81 10.32
EV/Sales 18.53 12.20 5.72
Earnings yield (169.54%) 7.04% 4.53%
Free cash flow yield (87.23%) 7.87% 4.65%

Profitability

Metric DFDV EARN Asset Management median
Gross margin 97.76% 94.17% 100.00%
Operating margin (866.51%) 12.60% 33.03%
Net margin (1,319.46%) 13.21% 13.53%
Free cash flow margin (954.86%) 15.86% 12.44%
Return on equity (589.29%) 3.99% 4.83%
Return on assets (128.23%) 0.00% 1.57%
Return on invested capital (79.93%) 1.60% 3.04%

Growth

Metric DFDV EARN Asset Management median
Revenue growth (TTM) 328.61% 17.19% 6.97%
EPS growth (last fiscal year) (1,335.75%) (8.87%) —
Revenue growth, 5-year CAGR 48.79% 2.61% 12.13%
Net income growth, 5-year CAGR 0.00% (21.61%) 0.00%

Health

Metric DFDV EARN Asset Management median
Debt to equity (10.02) 2.91 0.42
Current ratio 1.27 0.14 1.28
Net debt to EBITDA (3.50) 50.05 1.06

Dividend

Metric DFDV EARN Asset Management median
Dividend yield — 16.81% 6.92%
Payout ratio — 8.00 0.77

Size

Metric DFDV EARN Asset Management median
Market cap 189.52m 159.17m 721.34m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack