TPG Mortgage Investment Trust Inc. (MITT) vs Chicago Atlantic Real Estate Finance, Inc. (REFI)

TPG Mortgage Investment Trust Inc. and Chicago Atlantic Real Estate Finance, Inc. are both Reit Mortgage companies. Chicago Atlantic Real Estate Finance, Inc. is the larger, with a market value of $272.4M against $193.7M — 1.4× the size. Chicago Atlantic Real Estate Finance, Inc. trades at the lower P/E: 7.7× against 8.3×. TPG Mortgage Investment Trust Inc. grew revenue faster over the last twelve months: 18.8% against −3.77%. Chicago Atlantic Real Estate Finance, Inc. has the higher net margin (54.6% vs 4.47%) and the higher return on invested capital (6.47% vs 4.05%). Both pay a dividend; Chicago Atlantic Real Estate Finance, Inc. yields more (13.0% vs 11.9%). Across the 20 metrics below, Chicago Atlantic Real Estate Finance, Inc. leads on 14 and TPG Mortgage Investment Trust Inc. on 6.

Valuation

Metric MITT REFI Reit Mortgage median
P/E 8.26 7.66 7.80
P/S 0.38 4.20 1.90
P/B 0.60 0.75 0.61
Price to free cash flow 2.41 8.40 5.90
EV/EBITDA 15.79 7.72 28.40
EV/Sales 16.10 3.95 16.02
Earnings yield 12.11% 13.05% 7.68%
Free cash flow yield 41.52% 11.90% 11.60%

Profitability

Metric MITT REFI Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 98.41% 55.37% 35.40%
Net margin 4.47% 54.57% 11.85%
Free cash flow margin 15.68% 49.97% 26.68%
Return on equity 7.17% 9.61% 4.81%
Return on assets 0.30% 6.41% 0.62%
Return on invested capital 4.05% 6.47% 1.22%

Growth

Metric MITT REFI Reit Mortgage median
Revenue growth (TTM) 18.75% (3.77%) 4.70%
EPS growth (last fiscal year) (26.83%) (10.64%) —
Revenue growth, 5-year CAGR 45.16% — 14.60%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric MITT REFI Reit Mortgage median
Debt to equity 13.45 0.00 3.30
Current ratio 0.00 0.09 1.00
Net debt to EBITDA 15.82 (0.44) 18.31

Dividend

Metric MITT REFI Reit Mortgage median
Dividend yield 11.92% 13.02% 13.05%
Payout ratio 1.74 0.93 1.24

Size

Metric MITT REFI Reit Mortgage median
Market cap 193.68m 272.35m 517.48m

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