Chimera Investment Corporation (CIM) 10-Year Financial Performance & Capital Metrics

CIM • • REIT / Real Estate

Real EstateMortgage REITsHybrid Mortgage REITsMulti-Asset Mortgage Investors

AboutChimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities. It has elected to be taxed as a REIT. In addition, the company invests in investment, non-investment grade, and non-rated classes. The company was incorporated in 2007 and is based in New York, New York.Show more

Revenue $770M +276.1%
FFO $176M +39.9%
FFO/Share 2.15 +299.1%
FFO Payout 67.51% -56.4%
FFO per Share 2.15 +299.1%
NOI Margin 95.17% -4.8%
FFO Margin 22.9% -62.8%
ROE 6.92% +43.5%
ROA 1.35% +41.2%
Debt/Assets 76.35% -2.3%
Net Debt/EBITDA 14.76
Book Value/Share 30.75 +181.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓Sustainable FFO payout ratio of 67.5%
✓High NOI margin of 95.2%
✓Share count reduced 65.0% through buybacks
✓Trading at only 0.4x book value

✗Weaknesses

✗High debt to equity ratio of 4.0x
✗Profits declining 15.7% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.72%

5Y9.55%

3Y-10.01%

TTM-23.81%

Profit (Net Income) CAGR

10Y-11.38%

5Y-15.7%

3Y-35.95%

TTM-84.24%

EPS CAGR

10Y-18.54%

5Y-9.48%

3Y-23.22%

TTM-103.34%

ROCE

10Y Avg7.17%

5Y Avg7.18%

3Y Avg7.18%

Latest7.18%

Peer Comparison

Multi-Asset Mortgage Investors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RWTNRedwood Trust, Inc. 9.125% Seni	3.36B	25.34	79.19	52.9%	-0.62%	-0.29%		14.10
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 2029	754.34M	25.45	20.69	5.49%	18.45%	8.87%	7.4%	11.65
EFC-PCEllington Financial Inc.	2.49B	25.42	18.97	-13.66%	46.15%	8.39%
RWTRedwood Trust, Inc.	734.76M	5.80	18.13	52.9%	-41.59%	-8.86%		13.80
EFC-PDEllington Financial Inc.	2.37B	24.18	17.65	12.07%	49.64%	8.39%
STWDStarwood Property Trust, Inc.	6.8B	18.35	16.38	-0.53%	19.99%	4.84%	9.1%	1.25
NLYAnnaly Capital Management, Inc.	16.28B	23.83	14.71	189.21%	31.62%	9.97%	15.04%	1.69
IVRInvesco Mortgage Capital Inc.	659.79M	9.30	14.31	17.98%	36.99%	6.93%	27.76%	6.70

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	324.69M	614.34M	629.18M	452.74M	488.15M	226.4M	1.06B	-415.21M	204.77M	770.22M
Revenue Growth %	-0.45%	0.89%	0.02%	-0.28%	0.08%	-0.54%	3.67%	-1.39%	1.49%	2.76%
Property Operating Expenses	51.22M	48.6M	62.96M	49.11M	0	0	0	0	0	37.21M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	324.69M	430M	574M	452.74M	488.15M	226.4M	1.06B	-415.21M	204.77M	64.56M
G&A Expenses	59.88M	44.42M	47.86M	57.78M	72.8M	67.72M	69.07M	72.03M	55.69M	64.56M
EBITDA+	145.96M	883.26M	1.01B	597.65M	0	0	0	0	0	672.71M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	-363.76M	-16.63M	-48.56M	202.69M	0	0	0	0	0	321K
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	509.71M	899.88M	1.06B	394.96M	0	0	0	0	0	672.39M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	259.37M	347.86M	532.75M	679.11M	758.81M	516.18M	326.63M	333.29M	509.54M	496.27M
Interest Coverage	1.97x	2.59x	1.99x	0.58x	-	-	-	-	-	1.35x
Non-Operating Income	39.78M	-422.8M	0	-691.29M	0	0	0	0	0	321K
Pretax Income+	250.35M	552.03M	524.78M	411.73M	413.74M	89.01M	674.52M	-513.32M	126.21M	176.11M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1K	83K	108K	91K	193K	158K	4.41M	-253K	102K	49K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	250.35M	551.94M	524.67M	411.64M	413.55M	88.85M	670.11M	-513.07M	126.1M	176.06M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.58%	1.2%	-0.05%	-0.22%	0%	-0.79%	6.54%	-1.77%	1.25%	0.4%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-2.67%	5.72%	-0.11%	0.29%	-0.23%	-0.59%	2.87%	-1.61%	-	-
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	3.75	2.94	2.61	2.19	1.81	0.39	2.43	-2.19	0.54	1.10
EPS Growth %	-0.56%	-0.22%	-0.11%	-0.16%	-0.17%	-0.78%	5.23%	-1.9%	1.25%	1.04%
EPS (Basic)	1.25	2.94	2.62	2.20	1.82	0.42	7.65	-2.19	0.55	1.12
Diluted Shares Outstanding	199.65M	187.95M	188.29M	187.75M	188.41M	213M	245.5M	233.94M	234.43M	82.16M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	15.34B	16.68B	21.22B	27.71B	27.12B	17.52B	15.41B	13.4B	12.93B	13.12B
Asset Growth %	-0.2%	0.09%	0.27%	0.31%	-0.02%	-0.35%	-0.12%	-0.13%	-0.04%	0.01%
Real Estate & Other Assets+	4.97B	-7.76B	-7.39B	-29.52B	0	78.82M	39.24M	-1.58B	0	102.42M
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	114.06M	177.71M	63.57M	47.49M	0	13.46B	12.74B	0	386.91M	11.37B
Cash & Equivalents	114.06M	177.71M	63.57M	47.49M	109.88M	269.09M	385.74M	264.6M	221.68M	84M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-672.53M	81.16M	88.59M	-326.37M	88.27M	85.94M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Total Liabilities	12.4B	13.56B	17.59B	24B	23.17B	13.74B	11.67B	10.74B	10.37B	10.59B
Total Debt+	11.69B	12.88B	16.84B	22.65B	21.74B	13.51B	11.08B	10.61B	10.11B	10.01B
Net Debt	11.58B	12.7B	16.78B	22.6B	21.63B	13.24B	10.69B	10.35B	9.89B	9.93B
Long-Term Debt	11.69B	12.88B	16.84B	7.49B	6.71B	8.06B	6.18B	10.61B	7.43B	6.22B
Short-Term Borrowings	0	0	0	0	1000K	1000K	1000K	0	1000K	1000K
Capital Lease Obligations	0	145.06M	470.19M	730.29M	0	0	0	0	930.37M	0
Total Current Liabilities+	8.15B	6.29B	7.99B	15.39B	16.45B	5.68B	5.49B	0	2.94B	4.37B
Accounts Payable	37.43M	48.67M	61.89M	110.4M	0	111.89M	488.99M	30.7M	38.27M	499.81M
Deferred Revenue	-7.44B	-7.28B	-9.59B	-6.98B	0	0	0	0	0	0
Other Liabilities	-7.32B	-6.75B	-8.76B	0	-6.71B	0	0	-10.61B	0	0
Total Equity+	2.95B	15.82B	20.42B	26.3B	3.95B	3.78B	3.74B	2.67B	2.56B	2.53B
Equity Growth %	-0.18%	4.37%	0.29%	0.29%	-0.85%	-0.04%	-0.01%	-0.29%	-0.04%	-0.01%
Shareholders Equity	2.95B	3.12B	3.63B	3.7B	3.95B	3.78B	3.74B	2.67B	2.56B	2.53B
Minority Interest	0	12.7B	16.78B	22.6B	0	0	0	0	0	0
Common Stock	1.88M	1.88M	1.88M	1.87M	1.87M	2.31M	2.37M	2.32M	2.41M	809K
Additional Paid-in Capital	3.37B	3.51B	3.83B	4.07B	3.35B	4.54B	4.36B	4.32B	4.37B	4.39B
Retained Earnings	-1.2B	-1.11B	-990.68M	-997.26M	-1.03B	-1.32B	-1.03B	-1.88B	-2B	-2.02B
Preferred Stock	0	58K	188K	292K	930.37M	372K	372K	372K	372K	372K
Return on Assets (ROA)	0.01%	0.03%	0.03%	0.02%	0.02%	0%	0.04%	-0.04%	0.01%	0.01%
Return on Equity (ROE)	0.08%	0.06%	0.03%	0.02%	0.03%	0.02%	0.18%	-0.16%	0.05%	0.07%
Debt / Assets	0.76%	0.77%	0.79%	0.82%	0.8%	0.77%	0.72%	0.79%	0.78%	0.76%
Debt / Equity	3.97x	0.81x	0.83x	0.86x	5.50x	3.58x	2.96x	3.98x	3.95x	3.96x
Net Debt / EBITDA	79.30x	14.38x	16.63x	37.81x	-	-	-	-	-	14.76x
Book Value per Share	14.76	84.18	108.43	140.09	20.98	17.74	15.22	11.40	10.92	30.75

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	396.3M	552.91M	487.29M	297.58M	65.04M	257.9M	519.18M	325.72M	213.27M	205.67M
Operating CF Growth %	1.17%	0.4%	-0.12%	-0.39%	-0.78%	2.97%	1.01%	-0.37%	-0.35%	-0.04%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	250.35M	551.94M	524.67M	411.64M	413.55M	88.85M	670.11M	-513.07M	126.1M	176.06M
Depreciation & Amortization	3.81M	-3.13M	-25.42M	28.63M	58.9M	102.56M	70.58M	61.49M	0	321K
Stock-Based Compensation	1.98M	2.2M	3.61M	8.8M	10.58M	5.02M	6.51M	8.18M	9.55M	10.1M
Other Non-Cash Items	82.67M	56.05M	31.44M	-320.9M	-290.77M	185.83M	-119.87M	779.96M	107.75M	25.03M
Working Capital Changes	-33.76M	7.07M	10.7M	88.38M	-68.33M	-21.8M	-37.57M	-10.84M	-30.14M	-5.84M
Cash from Investing+	2.04B	-1.27B	-4.33B	-6.03B	1.24B	8.33B	2.55B	509.84M	551.75M	178.22M
Acquisitions (Net)	-109.87M	0	-398.26M	0	0	0	0	0	0	-29.11M
Purchase of Investments	-7.55B	-1.24B	-1.74B	-8.05B	-3.3B	-465.68M	-227.03M	-80.93M	0	0
Sale of Investments	1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	0	0
Other Investing	2.15B	-1.25B	-3.92B	-6.03B	4.56B	8.96B	2.82B	514.3M	551.75M	207.33M
Cash from Financing+	-2.48B	781.3M	3.73B	5.71B	-1.24B	-8.43B	-2.95B	-956.7M	-807.94M	-521.58M
Dividends Paid	-381.19M	-454.27M	-411.7M	-417.59M	-446.96M	-396.38M	-372.41M	-361.51M	-250.53M	-223.25M
Common Dividends	-381.19M	-454.27M	-375.77M	-374.4M	-374.26M	-322.63M	-298.64M	-287.75M	-195.22M	-119.08M
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Share Repurchases	-250M	-140.06M	-314.43M	-14.83M	-193.37M	-22.07M	-1.83M	-48.89M	-33.1M	0
Other Financing	0	0	1.65B	0	0	-33.75M	-220.94M	0	-1K	0
Net Change in Cash+	-50.56M	63.65M	-114.14M	-16.08M	62.39M	159.21M	116.65M	-121.14M	-42.92M	-137.69M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	164.62M	114.06M	177.71M	63.57M	47.49M	109.88M	269.09M	385.74M	264.6M	221.68M
Cash at End	114.06M	177.71M	63.57M	47.49M	109.88M	269.09M	385.74M	264.6M	221.68M	84M
Free Cash Flow+	396.3M	552.91M	487.29M	297.58M	65.04M	257.9M	519.18M	325.72M	213.27M	205.67M
FCF Growth %	0.2%	0.4%	-0.12%	-0.39%	-0.78%	2.97%	1.01%	-0.37%	-0.35%	-0.04%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	-0.57	2.85	2.53	3.27	2.51	0.9	3.02	-1.93	0.54	2.15
FFO Payout Ratio	-336.12%	84.86%	78.93%	60.94%	79.22%	168.54%	40.32%	-63.72%	154.81%	67.51%
NOI Margin	84.23%	92.09%	89.99%	89.15%	100%	100%	100%	100%	100%	95.17%
Net Debt / EBITDA	79.30x	14.38x	16.63x	37.81x	-	-	-	-	-	14.76x
Debt / Assets	76.18%	77.17%	79.37%	81.73%	80.17%	77.12%	71.89%	79.2%	78.19%	76.35%
Interest Coverage	1.97x	2.59x	1.99x	0.58x	-	-	-	-	-	1.35x
Book Value / Share	14.76	84.18	108.43	140.09	20.98	17.74	15.22	11.4	10.92	30.75
Revenue Growth	-44.85%	89.21%	2.42%	-28.04%	7.82%	-53.62%	366.88%	-139.28%	149.32%	276.14%

Revenue by Segment

	2018
Investment Advisory Services	6.5M
Investment Advisory Services Growth	-

Frequently Asked Questions

Valuation & Price

Chimera Investment Corporation (CIM) has a price-to-earnings (P/E) ratio of 12.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Chimera Investment Corporation (CIM) reported $319.9M in revenue for fiscal year 2024. This represents a 58% increase from $202.5M in 2011.

Chimera Investment Corporation (CIM) grew revenue by 276.1% over the past year. This is strong growth.

Yes, Chimera Investment Corporation (CIM) is profitable, generating $55.7M in net income for fiscal year 2024 (22.9% net margin).

Dividend & Returns

Yes, Chimera Investment Corporation (CIM) pays a dividend with a yield of 11.00%. This makes it attractive for income-focused investors.

Chimera Investment Corporation (CIM) has a return on equity (ROE) of 6.9%. This is below average, suggesting room for improvement.

Industry Metrics

Chimera Investment Corporation (CIM) generated Funds From Operations (FFO) of $280.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Chimera Investment Corporation (CIM) offers a 11.00% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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