Greystone Housing Impact Investors LP (GHI) vs Pineapple Financial Inc. (PAPL)

Greystone Housing Impact Investors LP and Pineapple Financial Inc. are both Mortgage Finance companies. Greystone Housing Impact Investors LP is the larger, with a market value of $135.2M against $25.5M — 5.3× the size. Pineapple Financial Inc. grew revenue faster over the last twelve months: −2.54% against −13.6%. Greystone Housing Impact Investors LP has the higher net margin (−7.74% vs −90.2%) and the higher return on invested capital (2.87% vs −0.40%). Across the 19 metrics below, Greystone Housing Impact Investors LP leads on 12 and Pineapple Financial Inc. on 7.

Valuation

Metric GHI PAPL Mortgage Finance median
P/E n/m n/m 7.11
P/S 1.68 9.18 1.54
P/B 0.52 0.49 0.53
Price to free cash flow 7.74 n/m 6.59
EV/EBITDA 17.18 22.03 22.03
EV/Sales 13.50 13.27 5.95
Earnings yield (4.10%) (643.78%) 2.09%
Free cash flow yield 12.92% (22.79%) (16.97%)

Profitability

Metric GHI PAPL Mortgage Finance median
Gross margin 97.33% 100.00% 84.40%
Operating margin 69.11% 25.36% 12.51%
Net margin (7.74%) (90.19%) (0.83%)
Free cash flow margin 21.65% (209.14%) (45.06%)
Return on equity (2.32%) (9.57%) (1.16%)
Return on assets (0.44%) (6.23%) 0.38%
Return on invested capital 2.87% (0.40%) 0.36%

Growth

Metric GHI PAPL Mortgage Finance median
Revenue growth (TTM) (13.63%) (2.54%) 11.44%
EPS growth (last fiscal year) (168.42%) 53.42% —
Revenue growth, 5-year CAGR 8.99% 2.13% (11.16%)
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GHI PAPL Mortgage Finance median
Debt to equity 3.80 0.42 1.22
Current ratio 8.88 1.00 1.38
Net debt to EBITDA 17.88 0.53 9.85

Dividend

Metric GHI PAPL Mortgage Finance median
Dividend yield 8.88% — 5.81%
Payout ratio 0.49 — 0.00

Size

Metric GHI PAPL Mortgage Finance median
Market cap 135.18m 25.52m 214.95m

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