Latest Ratios: P/E Ratio 6.9x · EV/EBITDA 17.1x · 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 | $197M | $265M | $196M | $134M | $122M | $166M | $104M | $497M | $452M | $530M | $478M |
| Enterprise Value | $8.2B | $8.3B | $6.4B | $5.6B | $3.9B | $2.9B | $975M | $3.8B | $3.3B | $531M | $447M |
| P/E Ratio → | 6.88 | 9.47 | 5.41 | 3.78 | — | 1.94 | — | 6.47 | 281.12 | 5.04 | 9.51 |
| P/S Ratio | 0.42 | 0.56 | 0.48 | 0.49 | 0.47 | 2.46 | — | 3.37 | 3.55 | 4.62 | 3.85 |
| P/B Ratio | 0.34 | 0.47 | 0.36 | 0.25 | 0.26 | 0.29 | 0.25 | 0.58 | 0.14 | 0.14 | 0.19 |
| P/FCF | 3.30 | 4.44 | 3.51 | 4.76 | 5.40 | 6.33 | 24.98 | 7.61 | 8.55 | 6.97 | 7.15 |
| P/OCF | 3.30 | 4.44 | 3.51 | 4.76 | 5.40 | 6.33 | 24.98 | 7.61 | 5.80 | 6.67 | 7.15 |
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 | — | 17.54 | 15.51 | 20.34 | 15.27 | 42.58 | — | 26.00 | 25.54 | 4.63 | 3.60 |
| EV / EBITDA | 17.10 | 17.24 | 16.08 | 20.98 | 40.00 | 25.46 | — | 33.63 | — | 4.29 | 5.39 |
| EV / EBIT | 17.96 | 18.28 | 16.08 | 20.98 | 59.57 | 21.88 | — | 20.43 | 43.97 | 3.27 | 4.59 |
| EV / FCF | — | 139.15 | 114.75 | 198.58 | 174.09 | 109.34 | 234.64 | 58.69 | 61.55 | 6.99 | 6.69 |
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 | 16.85 | 16.85 | 15.89 | 20.90 | 39.62 | 24.59 | — | 30.37 | — | 0.13 | 0.26 |
| 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 | 16.69 | 16.69 | 15.59 | 20.48 | 38.76 | 23.99 | — | 29.27 | — | 0.01 | -0.37 |
| 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 | 12.7% | 9.2% | 9.2% | 13.0% | 16.0% | 6.5% | 14.2% | 12.4% | 12.2% | 10.5% | 11.1% |
| 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 | 14.5% | 10.6% | 18.5% | 26.5% | — | 51.6% | — | 15.5% | 0.4% | 19.8% | 10.5% |
| FCF Yield | 30.3% | 22.5% | 28.5% | 21.0% | 18.5% | 15.8% | 4.0% | 13.1% | 11.7% | 14.4% | 14.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 4.7% | 15.0% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 2.1% |
| Total Shareholder Yield | 12.7% | 9.2% | 9.2% | 17.8% | 31.0% | 8.6% | 14.2% | 12.4% | 12.2% | 10.5% | 13.2% |
| Shares Outstanding | — | $31M | $30M | $21M | $23M | $16M | $12M | $11M | $9M | $9M | $9M |
Includes 30+ ratios · 15 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying MITT stock.
TPG Mortgage Investment Trust Inc's current P/E ratio is 6.9x. The historical average is 5.7x. This places it at the 80th percentile of its historical range.
TPG Mortgage Investment Trust Inc's current EV/EBITDA is 17.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.9x.
TPG Mortgage Investment Trust Inc's return on equity (ROE) is 8.8%. The historical average is 2.4%.
Based on historical data, TPG Mortgage Investment Trust Inc is trading at a P/E of 6.9x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TPG Mortgage Investment Trust Inc's current dividend yield is 12.72% with a payout ratio of 50.3%.
TPG Mortgage Investment Trust Inc 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's Debt/EBITDA ratio is 16.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Excessive leverage and liquidity
Metrics are mathematically derived from official filings.
Discounted Valuation Reflects Structural Uncertainty
According to recent SEC filings, MITT trades at a price-to-book ratio of 0.45, a significant discount that suggests investors are pricing in substantial risks regarding the firm's asset quality and the potential for future book value erosion within its residential credit and land-related financing portfolios.
The persistent discount to book value indicates that the market remains skeptical of the firm's ability to generate consistent returns on its specialized credit assets. Investors should monitor whether this valuation gap narrows as the integration with TPG progresses or if it reflects a permanent impairment of the underlying asset base.
Dividend Sustainability Faces Severe Headwinds
As reported in financial statements, the FFO payout ratio reached 150.5% in 2026Q1, a level that clearly indicates the current dividend distribution is not supported by recurring earnings and necessitates a reliance on capital reserves or external financing to maintain shareholder payouts.
The inability to cover the dividend from FFO suggests that the current distribution policy may be unsustainable without a material improvement in net interest margins. Investors should be wary of potential dividend cuts, as the current payout trajectory appears to be eroding the firm's already limited capital base.
Elevated Leverage Heightens Financial Fragility
Based on MITT's reported figures, the debt-to-equity ratio of 14.14 in 2026Q1 highlights a heavy reliance on repo-based financing, which leaves the company's balance sheet acutely vulnerable to interest rate volatility and potential margin calls on its non-QM and land-related credit assets.
This high leverage profile significantly limits the firm's financial flexibility and increases the risk of forced asset liquidations during periods of market stress. The low interest coverage ratio of 0.97 further suggests that the firm is struggling to service its debt obligations from operational cash flow alone.
Misapplication of Standard P/E Multiples
Data from recent SEC filings indicates that the standard P/E ratio of 8.99 is fundamentally misleading for MITT, as it fails to account for the non-cash fair value adjustments and the high depreciation of assets inherent in the mortgage REIT business model.
Investors should prioritize Distributable Earnings or FFO to assess the firm's true operational performance, as GAAP net income is frequently distorted by unrealized valuation swings. Relying on P/E obscures the underlying cash-generating capacity of the portfolio and ignores the impact of the firm's complex securitization structures.