Latest Ratios: P/E Ratio 28.3x · EV/EBITDA 19.5x · ROE 8.8%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $809M | — | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $8.8B | — | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | 28.32 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.71 | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.41 | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 13.58 | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 13.58 | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 19.48 | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 19.29 | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.7% | 94.7% | 94.9% | 93.6% | 93.3% | 79.8% | 107.0% | 92.2% | 92.2% | 91.2% | 91.8% |
| Operating Margin | 96.9% | 96.9% | 96.4% | 90.5% | 36.0% | 158.3% | 206.5% | 74.5% | -3.3% | 98.9% | 63.9% |
| Net Profit Margin | 10.3% | 10.3% | 13.5% | 19.6% | -20.7% | 154.3% | 232.2% | 63.1% | 1.2% | 103.3% | 51.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 8.8% | 10.4% | 10.9% | -10.3% | 21.3% | -66.9% | 4.5% | 0.0% | 3.8% | 4.0% |
| ROA | 0.6% | 0.6% | 0.9% | 1.0% | -1.4% | 4.4% | -14.6% | 2.4% | 0.0% | 3.7% | 2.2% |
| ROIC | 4.5% | 4.5% | 4.7% | 3.6% | 1.8% | 3.5% | -10.3% | 1.6% | -0.1% | 2.7% | 3.4% |
| ROCE | 6.5% | 6.5% | 6.9% | 4.7% | 2.4% | 7.4% | -31.9% | 4.8% | -0.1% | 3.5% | 2.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 14.45 | 14.45 | 11.65 | 10.53 | 8.39 | 4.87 | 2.24 | 4.07 | 0.85 | 0.00 | 0.01 |
| Debt / EBITDA | 17.87 | 17.87 | 15.89 | 20.90 | 59.00 | 21.13 | — | 18.45 | 38.29 | 0.10 | 0.22 |
| Net Debt / Equity | — | 14.31 | 11.43 | 10.32 | 8.21 | 4.75 | 2.13 | 3.92 | 0.84 | 0.00 | -0.01 |
| Net Debt / EBITDA | 17.70 | 17.70 | 15.59 | 20.48 | 57.72 | 20.61 | — | 17.78 | 37.86 | 0.01 | -0.32 |
| Debt / FCF | — | 134.71 | 111.24 | 193.82 | 168.69 | 103.01 | 209.66 | 51.08 | 52.99 | 0.02 | -0.46 |
| Interest Coverage | 1.12 | 1.12 | 1.16 | 1.25 | 0.55 | 4.82 | -10.41 | 2.08 | 1.05 | 3.71 | 2.88 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | 8.51 | — | — | 1.53 | 8.82 | — | 2.83 | 17.99 | 35.53 |
| Quick Ratio | 0.09 | 0.09 | 8.51 | — | — | 1.53 | 8.82 | — | 2.92 | 19.37 | 37.69 |
| Cash Ratio | 0.09 | 0.09 | 0.15 | — | — | 0.04 | 0.67 | 0.04 | 1.58 | 9.84 | 30.54 |
| Asset Turnover | — | 0.05 | 0.06 | 0.04 | 0.06 | 0.02 | -0.13 | 0.03 | 0.04 | 0.03 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 50.3% | 50.3% | 32.3% | 32.4% | — | 10.3% | — | 66.5% | 3523.9% | 47.0% | 83.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 7.4% | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $31M | $30M | $21M | $23M | $16M | $12M | $11M | $9M | $9M | $9M |
Excessive leverage and liquidity
Based on current market data, MITP trades at a P/B ratio of 1.41, which appears to reflect significant investor skepticism regarding the underlying asset quality and the sustainability of the company's earnings power compared to peers like NYMT or CHMI that trade at deeper discounts to book.
The forward P/E of 23.46 suggests that the market is pricing in a recovery in earnings that may not materialize if net interest margins remain compressed by high financing costs. Investors should monitor whether this premium valuation is supported by the internal origination platform's value or if it represents a mispricing of credit risk.
As reported in recent financial statements, the company's ROIC has remained stagnant, hovering near 0.9% to 1.2% over the last ten quarters, which indicates that the firm is struggling to generate meaningful returns on its invested capital despite its aggressive use of debt financing.
The persistent gap between the cost of capital and the returns generated suggests that the company is failing to compound shareholder value effectively. This trend warrants further investigation into whether the Lima One platform can eventually drive higher returns or if the current asset mix is structurally incapable of outperforming the cost of funds.
According to the provided quarterly data, the company's asset turnover remains extremely low at approximately 0.01 to 0.02, highlighting the capital-intensive nature of the mortgage REIT model and the limited velocity at which the firm can recycle its capital into new, high-yielding loan originations.
The lack of consistent data regarding the cash conversion cycle makes it difficult to assess the efficiency of the Lima One origination platform. Investors should be cautious, as the inability to rapidly turn over assets in a high-rate environment may lead to prolonged periods of stagnant growth and liquidity pressure.
Based on reported figures, the debt-to-equity ratio has steadily climbed to 14.14 as of 2026Q1, indicating that the company is increasingly reliant on external financing to maintain its portfolio size, which significantly heightens the risk of insolvency during periods of market volatility or asset devaluation.
The interest coverage ratio, which has fluctuated near 1.0x, suggests that the company has very little margin for error in meeting its debt service obligations. This precarious leverage position implies that any further widening of credit spreads could force management into dilutive capital raises or asset liquidations.
The P/E ratio is the most commonly misapplied metric for this business model, as it fails to account for the significant non-cash fair value adjustments that frequently distort GAAP net income and mask the true cash-generating capacity of the underlying mortgage loan portfolio.
Analysts should instead focus on Distributable Earnings, which provides a more accurate view of the cash available for dividends and debt service. Relying on P/E in this context obscures the volatility inherent in fair value accounting and may lead to incorrect conclusions about the company's actual profitability.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MITP stock.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029's current P/E ratio is 28.3x. This places it at the 50th percentile of its historical range.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029's current EV/EBITDA is 19.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029's return on equity (ROE) is 8.8%. The historical average is 2.4%.
Based on historical data, TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029 is trading at a P/E of 28.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029's current dividend yield is 3.09% with a payout ratio of 50.3%.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029 has 94.7% gross margin and 96.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029's Debt/EBITDA ratio is 17.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.