Granite Point Mortgage Trust Inc. (GPMT) vs Great Ajax Corp. (RPT)

Granite Point Mortgage Trust Inc. and Great Ajax Corp. are both Reit Mortgage companies. Great Ajax Corp. is the larger, with a market value of $87.8M against $18.0M — 4.9× the size. Granite Point Mortgage Trust Inc. has negative trailing earnings, so its P/E is not meaningful; Great Ajax Corp. trades at 73.7×. Granite Point Mortgage Trust Inc. grew revenue faster over the last twelve months: −39.1% against −74.3%. Great Ajax Corp. has the higher net margin (7.05% vs −752.8%) and the higher return on invested capital (0.49% vs 0.00%). Across the 17 metrics below, Great Ajax Corp. leads on 10 and Granite Point Mortgage Trust Inc. on 7.

Valuation

Metric GPMT RPT Reit Mortgage median
P/E n/m 73.67 14.55
P/S 0.85 5.07 1.72
P/B 0.04 0.37 0.52
Price to free cash flow n/m n/m 4.35
EV/EBITDA n/m 79.39 28.27
EV/Sales 49.88 35.01 15.73
Earnings yield (547.68%) 1.36% 0.23%
Free cash flow yield (18.88%) (13.25%) 13.86%

Profitability

Metric GPMT RPT Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 36.21% 31.94%
Net margin (752.78%) 7.05% (1.81%)
Free cash flow margin 8.75% (67.15%) 27.05%
Return on equity (31.06%) 0.51% (0.49%)
Return on assets (10.05%) 0.12% (0.06%)
Return on invested capital 0.00% 0.49% 0.79%

Growth

Metric GPMT RPT Reit Mortgage median
Revenue growth (TTM) (39.08%) (74.29%) 1.39%
EPS growth (last fiscal year) 73.58% 97.38% 45.25%
Revenue growth, 5-year CAGR (22.97%) (24.69%) 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GPMT RPT Reit Mortgage median
Debt to equity 0.00 1.95 2.91
Current ratio 0.00 0.85 0.82
Net debt to EBITDA (94.92) 181.49 18.31

Dividend

Metric GPMT RPT Reit Mortgage median
Dividend yield 4.36% — 17.37%
Payout ratio — — 1.87

Size

Metric GPMT RPT Reit Mortgage median
Market cap 17.98m 87.80m 409.49m

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