MFA Financial, Inc. (MFA) vs TPG RE Finance Trust, Inc. (TRTX)

MFA Financial, Inc. and TPG RE Finance Trust, Inc. are both Reit Mortgage companies. MFA Financial, Inc. is the larger, with a market value of $677.3M against $454.5M — 1.5× the size. MFA Financial, Inc. trades at the lower P/E: 6.5× against 10.7×. MFA Financial, Inc. grew revenue faster over the last twelve months: 4.90% against −2.64%. TPG RE Finance Trust, Inc. has the higher net margin (29.9% vs 13.8%) and the lower return on invested capital (1.00% vs 2.88%). Both pay a dividend; MFA Financial, Inc. yields more (21.9% vs 16.6%). Across the 21 metrics below, MFA Financial, Inc. leads on 16 and TPG RE Finance Trust, Inc. on 5.

Valuation

Metric MFA TRTX Reit Mortgage median
P/E 6.46 10.72 7.10
P/S 0.89 3.09 1.77
P/B 0.38 0.43 0.55
Price to free cash flow 1.90 5.38 5.36
EV/EBITDA 19.61 47.03 28.29
EV/Sales 15.72 26.49 15.90
Earnings yield 15.48% 9.33% 8.10%
Free cash flow yield 52.56% 18.58% 13.00%

Profitability

Metric MFA TRTX Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 79.06% 48.82% 35.40%
Net margin 13.82% 29.93% 11.85%
Free cash flow margin 46.95% 57.48% 26.68%
Return on equity 5.88% 4.04% 4.81%
Return on assets 0.83% 0.99% 0.62%
Return on invested capital 2.88% 1.00% 1.22%

Growth

Metric MFA TRTX Reit Mortgage median
Revenue growth (TTM) 4.90% (2.64%) 4.70%
EPS growth (last fiscal year) 58.54% (24.00%) 45.25%
Revenue growth, 5-year CAGR 11.47% (3.76%) 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MFA TRTX Reit Mortgage median
Debt to equity 6.56 3.30 3.30
Current ratio 0.00 200.26 1.00
Net debt to EBITDA 17.85 38.25 18.31

Dividend

Metric MFA TRTX Reit Mortgage median
Dividend yield 21.85% 16.58% 17.34%
Payout ratio 1.44 1.78 1.28

Size

Metric MFA TRTX Reit Mortgage median
Market cap 677.29m 454.48m 479.53m

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