REIT - Mortgage
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MITN vs TPVG vs MITT vs HRZN
Revenue, margins, valuation, and 5-year total return — side by side.
Asset Management
REIT - Mortgage
Asset Management
MITN vs TPVG vs MITT vs HRZN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | REIT - Mortgage | Asset Management | REIT - Mortgage | Asset Management |
| Market Cap | $802M | $243M | $249M | $199M |
| Revenue (TTM) | $400M | $97M | $493M | $40M |
| Net Income (TTM) | $34M | $-12M | $34M | $28M |
| Gross Margin | 93.7% | 83.5% | 94.2% | 18.0% |
| Operating Margin | 92.9% | 77.9% | 93.3% | -4.0% |
| Forward P/E | 23.2x | 6.5x | 7.2x | 6.1x |
| Total Debt | $8.10B | $469M | $8.10B | $473M |
| Cash & Equiv. | $76M | $20M | $76M | $106M |
MITN vs TPVG vs MITT vs HRZN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Feb 24 | May 26 | Return |
|---|---|---|---|
| TPG Mortgage Invest… (MITN) | 100 | 101.1 | +1.1% |
| TriplePoint Venture… (TPVG) | 100 | 55.6 | -44.4% |
| TPG Mortgage Invest… (MITT) | 100 | 128.9 | +28.9% |
| Horizon Technology … (HRZN) | 100 | 37.8 | -62.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MITN vs TPVG vs MITT vs HRZN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
MITN is the clearest fit if your priority is stability.
- Beta 0.53 vs MITT's 0.90
TPVG is the #2 pick in this set and the best alternative if growth exposure and long-term compounding is your priority.
- Rev growth 36.6%, EPS growth 48.8%
- 93.3% 10Y total return vs MITN's 22.3%
- NIM 7.4% vs HRZN's 7.1%
- 36.6% NII/revenue growth vs MITT's 14.4%
MITT is the clearest fit if your priority is momentum.
- +29.0% vs HRZN's -23.2%
HRZN carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.70, yield 27.8%
- Lower volatility, beta 0.70, current ratio 1.24x
- PEG 0.26 vs TPVG's 6.41
- Beta 0.70, yield 27.8%, current ratio 1.24x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 36.6% NII/revenue growth vs MITT's 14.4% | |
| Value | Lower P/E (6.1x vs 7.2x) | |
| Quality / Margins | 50.6% margin vs HRZN's -6.6% | |
| Stability / Safety | Beta 0.53 vs MITT's 0.90 | |
| Dividends | 27.8% yield, vs MITT's 10.0% | |
| Momentum (1Y) | +29.0% vs HRZN's -23.2% | |
| Efficiency (ROA) | 3.6% ROA vs TPVG's -1.5%, ROIC -0.2% vs 7.2% |
MITN vs TPVG vs MITT vs HRZN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Segment breakdown not available.
Segment breakdown not available.
MITN vs TPVG vs MITT vs HRZN — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
MITT leads in 2 of 6 categories
HRZN leads 1 • TPVG leads 1 • MITN leads 1 • 1 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
MITT leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
MITT is the larger business by revenue, generating $493M annually — 12.3x HRZN's $40M. TPVG is the more profitable business, keeping 50.6% of every revenue dollar as net income compared to HRZN's -6.6%.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $400M | $97M | $493M | $40M |
| EBITDAEarnings before interest/tax | $373M | -$22M | $457M | $19M |
| Net IncomeAfter-tax profit | $34M | -$12M | $34M | $28M |
| Free Cash FlowCash after capex | $68M | $35M | $68M | $67M |
| Gross MarginGross profit ÷ Revenue | +93.7% | +83.5% | +94.2% | +18.0% |
| Operating MarginEBIT ÷ Revenue | +92.9% | +77.9% | +93.3% | -4.0% |
| Net MarginNet income ÷ Revenue | +8.4% | +50.6% | +6.8% | -6.6% |
| FCF MarginFCF ÷ Revenue | +17.0% | -58.7% | +13.8% | +141.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.4% | — | +20.9% | — |
| EPS Growth (YoY)Latest quarter vs prior year | -2.3% | -2.3% | -2.3% | -29.6% |
Valuation Metrics
HRZN leads this category, winning 4 of 7 comparable metrics.
Valuation Metrics
At 4.3x trailing earnings, HRZN trades at a 85% valuation discount to MITN's 28.7x P/E. Adjusting for growth (PEG ratio), HRZN offers better value at 0.18x vs TPVG's 4.84x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $802M | $243M | $249M | $199M |
| Enterprise ValueMkt cap + debt − cash | $8.8B | $691M | $8.3B | $567M |
| Trailing P/EPrice ÷ TTM EPS | 28.73x | 4.91x | 8.71x | 4.30x |
| Forward P/EPrice ÷ next-FY EPS est. | 23.22x | 6.50x | 7.20x | 6.10x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.84x | — | 0.18x |
| EV / EBITDAEnterprise value multiple | 18.64x | 9.13x | 18.25x | — |
| Price / SalesMarket cap ÷ Revenue | 1.70x | 2.50x | 0.53x | 4.97x |
| Price / BookPrice ÷ Book value/share | 1.40x | 0.68x | 0.43x | 0.60x |
| Price / FCFMarket cap ÷ FCF | 12.58x | — | 4.18x | 3.51x |
Profitability & Efficiency
TPVG leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
HRZN delivers a 9.0% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $-3 for TPVG. TPVG carries lower financial leverage with a 1.33x debt-to-equity ratio, signaling a more conservative balance sheet compared to MITT's 14.45x. On the Piotroski fundamental quality scale (0–9), TPVG scores 5/9 vs MITT's 3/9, reflecting solid financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | +6.1% | -3.4% | +6.1% | +9.0% |
| ROA (TTM)Return on assets | +0.4% | -1.5% | +0.4% | +3.6% |
| ROICReturn on invested capital | +4.4% | +7.2% | +4.5% | -0.2% |
| ROCEReturn on capital employed | +6.4% | +9.4% | +6.5% | -0.2% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 | 3 | 5 |
| Debt / EquityFinancial leverage | 14.45x | 1.33x | 14.45x | 1.49x |
| Net DebtTotal debt minus cash | $8.0B | $449M | $8.0B | $368M |
| Cash & Equiv.Liquid assets | $76M | $20M | $76M | $106M |
| Total DebtShort + long-term debt | $8.1B | $469M | $8.1B | $473M |
| Interest CoverageEBIT ÷ Interest expense | 1.12x | -1.02x | 1.12x | 0.60x |
Total Returns (Dividends Reinvested)
MITT leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MITN five years ago would be worth $12,226 today (with dividends reinvested), compared to $6,724 for HRZN. Over the past 12 months, MITT leads with a +29.0% total return vs HRZN's -23.2%. The 3-year compound annual growth rate (CAGR) favors MITT at 23.4% vs HRZN's -10.3% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | +4.1% | -6.3% | -5.6% | -26.7% |
| 1-Year ReturnPast 12 months | +10.3% | +19.3% | +29.0% | -23.2% |
| 3-Year ReturnCumulative with dividends | +22.3% | -3.4% | +87.9% | -27.7% |
| 5-Year ReturnCumulative with dividends | +22.3% | -13.5% | -3.5% | -32.8% |
| 10-Year ReturnCumulative with dividends | +22.3% | +93.3% | -16.9% | +52.9% |
| CAGR (3Y)Annualised 3-year return | +6.9% | -1.2% | +23.4% | -10.3% |
Risk & Volatility
MITN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MITN is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than MITT's 0.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MITN currently trades 96.3% from its 52-week high vs HRZN's 53.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.53x | 0.83x | 0.90x | 0.70x |
| 52-Week HighHighest price in past year | $26.25 | $7.53 | $9.27 | $8.46 |
| 52-Week LowLowest price in past year | $8.95 | $4.48 | $6.52 | $3.80 |
| % of 52W HighCurrent price vs 52-week peak | +96.3% | +79.5% | +84.6% | +53.3% |
| RSI (14)Momentum oscillator 0–100 | 58.1 | 58.3 | 50.5 | 58.5 |
| Avg Volume (50D)Average daily shares traded | 9K | 504K | 277K | 1.2M |
Analyst Outlook
Evenly matched — MITT and HRZN each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: TPVG as "Hold", MITT as "Buy", HRZN as "Hold". Consensus price targets imply 49.4% upside for TPVG (target: $9) vs 22.8% for MITT (target: $10). For income investors, HRZN offers the higher dividend yield at 27.80% vs MITN's 3.12%.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold | Buy | Hold |
| Price TargetConsensus 12-month target | — | $8.95 | $9.63 | $6.50 |
| # AnalystsCovering analysts | — | 12 | 18 | 22 |
| Dividend YieldAnnual dividend ÷ price | +3.1% | +17.1% | +10.0% | +27.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 1 | 0 |
| Dividend / ShareAnnual DPS | $0.79 | $1.02 | $0.79 | $1.25 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | 0.0% |
MITT leads in 2 of 6 categories (Income & Cash Flow, Total Returns). HRZN leads in 1 (Valuation Metrics). 1 tied.
MITN vs TPVG vs MITT vs HRZN: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is MITN or TPVG or MITT or HRZN a better buy right now?
For growth investors, TriplePoint Venture Growth BDC Corp.
(TPVG) is the stronger pick with 36. 6% revenue growth year-over-year, versus 14. 4% for TPG Mortgage Investment Trust Inc (MITT). Horizon Technology Finance Corporation (HRZN) offers the better valuation at 4. 3x trailing P/E (6. 1x forward), making it the more compelling value choice. Analysts rate TPG Mortgage Investment Trust Inc (MITT) a "Buy" — based on 18 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MITN or TPVG or MITT or HRZN?
On trailing P/E, Horizon Technology Finance Corporation (HRZN) is the cheapest at 4.
3x versus TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 at 28. 7x. On forward P/E, Horizon Technology Finance Corporation is actually cheaper at 6. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Horizon Technology Finance Corporation wins at 0. 26x versus TriplePoint Venture Growth BDC Corp. 's 6. 41x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — MITN or TPVG or MITT or HRZN?
Over the past 5 years, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) delivered a total return of +22. 3%, compared to -32. 8% for Horizon Technology Finance Corporation (HRZN). Over 10 years, the gap is even starker: TPVG returned +93. 3% versus MITT's -16. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MITN or TPVG or MITT or HRZN?
By beta (market sensitivity over 5 years), TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the lower-risk stock at 0. 53β versus TPG Mortgage Investment Trust Inc's 0. 90β — meaning MITT is approximately 71% more volatile than MITN relative to the S&P 500. On balance sheet safety, TriplePoint Venture Growth BDC Corp. (TPVG) carries a lower debt/equity ratio of 133% versus 14% for TPG Mortgage Investment Trust Inc — giving it more financial flexibility in a downturn.
05Which is growing faster — MITN or TPVG or MITT or HRZN?
By revenue growth (latest reported year), TriplePoint Venture Growth BDC Corp.
(TPVG) is pulling ahead at 36. 6% versus 14. 4% for TPG Mortgage Investment Trust Inc (MITT). On earnings-per-share growth, the picture is similar: Horizon Technology Finance Corporation grew EPS 756. 3% year-over-year, compared to -28. 5% for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029. Over a 3-year CAGR, MITN leads at 1194% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MITN or TPVG or MITT or HRZN?
TriplePoint Venture Growth BDC Corp.
(TPVG) is the more profitable company, earning 50. 6% net margin versus -6. 6% for Horizon Technology Finance Corporation — meaning it keeps 50. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MITT leads at 96. 9% versus -4. 0% for HRZN. At the gross margin level — before operating expenses — MITT leads at 94. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MITN or TPVG or MITT or HRZN more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Horizon Technology Finance Corporation (HRZN) is the more undervalued stock at a PEG of 0. 26x versus TriplePoint Venture Growth BDC Corp. 's 6. 41x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Horizon Technology Finance Corporation (HRZN) trades at 6. 1x forward P/E versus 23. 2x for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 — 17. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TPVG: 49. 4% to $8. 95.
08Which pays a better dividend — MITN or TPVG or MITT or HRZN?
All stocks in this comparison pay dividends.
Horizon Technology Finance Corporation (HRZN) offers the highest yield at 27. 8%, versus 3. 1% for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 (MITN).
09Is MITN or TPVG or MITT or HRZN better for a retirement portfolio?
For long-horizon retirement investors, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 53), 3. 1% yield). Both have compounded well over 10 years (MITN: +22. 3%, MITT: -16. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MITN and TPVG and MITT and HRZN?
These companies operate in different sectors (MITN (Real Estate) and TPVG (Financial Services) and MITT (Real Estate) and HRZN (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: MITN is a small-cap income-oriented stock; TPVG is a small-cap high-growth stock; MITT is a small-cap deep-value stock; HRZN is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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- Sector: Financial Services
- Market Cap > $100B
- Revenue Growth > 8%
- Dividend Yield > 11.1%
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