Franklin BSP Realty Trust, Inc. (FBRT) vs MFA Financial, Inc. (MFA)

Franklin BSP Realty Trust, Inc. and MFA Financial, Inc. are both Reit Mortgage companies. MFA Financial, Inc. is the larger, with a market value of $662.1M against $475.2M — 1.4× the size. Franklin BSP Realty Trust, Inc. grew revenue faster over the last twelve months: 12.5% against 6.83%. MFA Financial, Inc. has the higher net margin (0.00% vs −2.04%) and the lower return on invested capital (0.00% vs 0.86%). Both pay a dividend; MFA Financial, Inc. yields more (22.1% vs 15.3%). Across the 22 metrics below, MFA Financial, Inc. leads on 13 and Franklin BSP Realty Trust, Inc. on 9.

Valuation

Metric FBRT MFA Reit Mortgage median
P/E n/m n/m 14.55
P/S 1.72 0.86 1.72
P/B 0.46 0.42 0.52
Price to free cash flow 2.19 1.19 4.35
EV/EBITDA 48.75 19.57 28.27
EV/Sales 14.83 15.33 15.73
Earnings yield (0.27%) (8.13%) 0.23%
Free cash flow yield 45.64% 84.37% 13.86%

Profitability

Metric FBRT MFA Reit Mortgage median
Gross margin 91.67% 100.00% 100.00%
Operating margin 24.33% 0.00% 31.94%
Net margin (2.04%) 0.00% (1.81%)
Free cash flow margin 78.52% 72.62% 27.05%
Return on equity (0.49%) 0.00% (0.49%)
Return on assets (0.10%) 0.00% (0.06%)
Return on invested capital 0.86% 0.00% 0.79%

Growth

Metric FBRT MFA Reit Mortgage median
Revenue growth (TTM) 12.51% 6.83% 1.39%
EPS growth (last fiscal year) (21.95%) 58.54% 45.25%
Revenue growth, 5-year CAGR 18.09% 11.47% 14.60%
Net income growth, 5-year CAGR 6.78% 0.00% 0.00%

Health

Metric FBRT MFA Reit Mortgage median
Debt to equity 2.91 0.00 2.91
Current ratio 83.00 0.00 0.82
Net debt to EBITDA 43.97 17.85 18.31

Dividend

Metric FBRT MFA Reit Mortgage median
Dividend yield 15.33% 22.09% 17.37%
Payout ratio 2.17 1.44 1.87

Size

Metric FBRT MFA Reit Mortgage median
Market cap 475.23m 662.12m 409.49m

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