MFA Financial, Inc. (MFA) vs PennyMac Mortgage Investment Trust (PMT)

MFA Financial, Inc. and PennyMac Mortgage Investment Trust are both Reit Mortgage companies. MFA Financial, Inc. is the larger, with a market value of $824.9M against $736.9M — 1.1× the size. PennyMac Mortgage Investment Trust trades at the lower P/E: 5.9× against 8.0×. PennyMac Mortgage Investment Trust grew revenue faster over the last twelve months: 19.6% against 4.90%. MFA Financial, Inc. has the higher net margin (13.8% vs 10.2%) and the lower return on invested capital (2.88% vs 2.92%). Both pay a dividend; MFA Financial, Inc. yields more (13.1% vs 11.6%). Across the 22 metrics below, MFA Financial, Inc. leads on 11 and PennyMac Mortgage Investment Trust on 11.

Valuation

Metric MFA PMT Reit Mortgage median
P/E 8.01 5.87 7.80
P/S 1.11 0.60 1.90
P/B 0.48 0.55 0.61
Price to free cash flow 2.36 n/m 5.90
EV/EBITDA 19.88 19.87 28.40
EV/Sales 15.94 17.03 16.02
Earnings yield 12.48% 17.05% 7.68%
Free cash flow yield 42.40% (1,386.89%) 11.60%

Profitability

Metric MFA PMT Reit Mortgage median
Gross margin 100.00% 91.15% 100.00%
Operating margin 79.06% 83.97% 35.40%
Net margin 13.82% 10.21% 11.85%
Free cash flow margin 46.95% (827.08%) 26.68%
Return on equity 5.88% 9.44% 4.81%
Return on assets 0.83% 0.59% 0.62%
Return on invested capital 2.88% 2.92% 1.22%

Growth

Metric MFA PMT Reit Mortgage median
Revenue growth (TTM) 4.90% 19.64% 4.70%
EPS growth (last fiscal year) 58.54% (27.74%) —
Revenue growth, 5-year CAGR 11.47% 9.74% 14.60%
Net income growth, 5-year CAGR 0.00% 25.95% 0.00%

Health

Metric MFA PMT Reit Mortgage median
Debt to equity 6.56 11.03 3.30
Current ratio 0.00 1.46 1.00
Net debt to EBITDA 17.85 16.25 18.31

Dividend

Metric MFA PMT Reit Mortgage median
Dividend yield 13.05% 11.56% 13.05%
Payout ratio 1.51 2.85 1.24

Size

Metric MFA PMT Reit Mortgage median
Market cap 824.88m 736.86m 517.48m

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