MFA Financial, Inc. (MFA) vs Orchid Island Capital, Inc. (ORC)

MFA Financial, Inc. and Orchid Island Capital, Inc. are both Reit Mortgage companies. Orchid Island Capital, Inc. is the larger, with a market value of $963.0M against $662.1M — 1.5× the size. MFA Financial, Inc. has negative trailing earnings, so its P/E is not meaningful; Orchid Island Capital, Inc. trades at 99.6×. Orchid Island Capital, Inc. grew revenue faster over the last twelve months: 74.8% against 6.83%. MFA Financial, Inc. has the higher net margin (0.00% vs −1.01%) and the lower return on invested capital (0.00% vs 25.0%). Both pay a dividend; Orchid Island Capital, Inc. yields more (26.1% vs 22.1%). Across the 20 metrics below, Orchid Island Capital, Inc. leads on 11 and MFA Financial, Inc. on 9.

Valuation

Metric MFA ORC Reit Mortgage median
P/E n/m 99.60 14.55
P/S 0.86 1.60 1.72
P/B 0.42 0.84 0.52
Price to free cash flow 1.19 4.06 4.35
EV/EBITDA 19.57 2.51 28.27
EV/Sales 15.33 1.61 15.73
Earnings yield (8.13%) 1.00% 0.23%
Free cash flow yield 84.37% 24.64% 13.86%

Profitability

Metric MFA ORC Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 64.27% 31.94%
Net margin 0.00% (1.01%) (1.81%)
Free cash flow margin 72.62% 39.39% 27.05%
Return on equity 0.00% (0.56%) (0.49%)
Return on assets 0.00% (0.06%) (0.06%)
Return on invested capital 0.00% 25.00% 0.79%

Growth

Metric MFA ORC Reit Mortgage median
Revenue growth (TTM) 6.83% 74.76% 1.39%
EPS growth (last fiscal year) 58.54% 117.54% 45.25%
Revenue growth, 5-year CAGR 11.47% 28.97% 14.60%
Net income growth, 5-year CAGR 0.00% 136.97% 0.00%

Health

Metric MFA ORC Reit Mortgage median
Debt to equity 0.00 0.37 2.91
Current ratio 0.00 0.00 0.82
Net debt to EBITDA 17.85 (1.28) 18.31

Dividend

Metric MFA ORC Reit Mortgage median
Dividend yield 22.09% 26.10% 17.37%
Payout ratio 1.44 26.00 1.87

Size

Metric MFA ORC Reit Mortgage median
Market cap 662.12m 963.03m 409.49m

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