Greystone Housing Impact Investors LP (GHI) vs loanDepot, Inc. (LDI)

Greystone Housing Impact Investors LP and loanDepot, Inc. are both Mortgage Finance companies. loanDepot, Inc. is the larger, with a market value of $223.8M against $135.2M — 1.7× the size. loanDepot, Inc. grew revenue faster over the last twelve months: 11.4% against −13.6%. loanDepot, Inc. has the higher net margin (−5.52% vs −7.74%) and the lower return on invested capital (0.72% vs 2.87%). Both pay a dividend; loanDepot, Inc. yields more (18.7% vs 8.88%). Across the 20 metrics below, Greystone Housing Impact Investors LP leads on 13 and loanDepot, Inc. on 7.

Valuation

Metric GHI LDI Mortgage Finance median
P/E n/m n/m 7.11
P/S 1.68 0.12 1.54
P/B 0.52 0.47 0.53
Price to free cash flow 7.74 n/m 6.59
EV/EBITDA 17.18 44.36 22.03
EV/Sales 13.50 4.64 5.95
Earnings yield (4.10%) (44.78%) 2.09%
Free cash flow yield 12.92% (164.78%) (16.97%)

Profitability

Metric GHI LDI Mortgage Finance median
Gross margin 97.33% 87.54% 84.40%
Operating margin 69.11% 5.49% 12.51%
Net margin (7.74%) (5.52%) (0.83%)
Free cash flow margin 21.65% (20.34%) (45.06%)
Return on equity (2.32%) (17.97%) (1.16%)
Return on assets (0.44%) (1.08%) 0.38%
Return on invested capital 2.87% 0.72% 0.36%

Growth

Metric GHI LDI Mortgage Finance median
Revenue growth (TTM) (13.63%) 11.44% 11.44%
EPS growth (last fiscal year) (168.42%) 43.40% —
Revenue growth, 5-year CAGR 8.99% (22.71%) (11.16%)
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GHI LDI Mortgage Finance median
Debt to equity 3.80 17.94 1.22
Current ratio 8.88 1.11 1.38
Net debt to EBITDA 17.88 48.55 9.85

Dividend

Metric GHI LDI Mortgage Finance median
Dividend yield 8.88% 18.71% 5.81%
Payout ratio 0.49 0.00 0.00

Size

Metric GHI LDI Mortgage Finance median
Market cap 135.18m 223.82m 214.95m

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