Ladder Capital Corp (LADR) vs Orchid Island Capital, Inc. (ORC)

Ladder Capital Corp and Orchid Island Capital, Inc. are both Reit Mortgage companies. Ladder Capital Corp and Orchid Island Capital, Inc. are of similar size ($1.2B and $1.1B). Orchid Island Capital, Inc. trades at the lower P/E: 3.9× against 21.6×. Orchid Island Capital, Inc. grew revenue faster over the last twelve months: 79.8% against −11.0%. Ladder Capital Corp has the higher net margin (54.6% vs 43.5%) and the lower return on invested capital (0.56% vs 34.8%). Both pay a dividend; Orchid Island Capital, Inc. yields more (18.0% vs 8.62%). Across the 22 metrics below, Orchid Island Capital, Inc. leads on 17 and Ladder Capital Corp on 5.

Valuation

Metric LADR ORC Reit Mortgage median
P/E 21.62 3.86 7.80
P/S 11.83 2.04 1.90
P/B 0.79 0.80 0.61
Price to free cash flow 12.02 5.56 5.90
EV/EBITDA 49.67 8.41 28.40
EV/Sales 53.10 9.34 16.02
Earnings yield 4.63% 25.92% 7.68%
Free cash flow yield 8.32% 17.99% 11.60%

Profitability

Metric LADR ORC Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 49.94% 111.07% 35.40%
Net margin 54.61% 43.49% 11.85%
Free cash flow margin 99.69% 36.69% 26.68%
Return on equity 3.57% 20.80% 4.81%
Return on assets 1.04% 2.36% 0.62%
Return on invested capital 0.56% 34.76% 1.22%

Growth

Metric LADR ORC Reit Mortgage median
Revenue growth (TTM) (10.95%) 79.75% 4.70%
EPS growth (last fiscal year) (40.70%) 117.54% —
Revenue growth, 5-year CAGR 49.36% 28.97% 14.60%
Net income growth, 5-year CAGR 0.00% 136.97% 0.00%

Health

Metric LADR ORC Reit Mortgage median
Debt to equity 2.81 0.34 3.30
Current ratio 44.15 0.00 1.00
Net debt to EBITDA 36.15 (1.28) 18.31

Dividend

Metric LADR ORC Reit Mortgage median
Dividend yield 8.62% 18.02% 13.05%
Payout ratio 0.83 13.00 1.24

Size

Metric LADR ORC Reit Mortgage median
Market cap 1.15b 1.14b 517.48m

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