BLACKSTONE MORTGAGE TRU-CL A (BXMT) Stock Fundamental Analysis
NYSE:BXMT - New York Stock Exchange, Inc. - US09257W1009 - REIT - Currency: USD
Taking everything into account, BXMT scores 4 out of 10 in our fundamental rating. BXMT was compared to 65 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. While BXMT seems to be doing ok healthwise, there are quite some concerns on its profitability. BXMT has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
BXMT had negative earnings in the past year.
BXMT had a positive operating cash flow in the past year.
Of the past 5 years BXMT 4 years were profitable.
BXMT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BXMT has a worse Return On Assets (-1.03%) than 67.69% of its industry peers.
BXMT has a Return On Equity of -5.39%. This is in the lower half of the industry: BXMT underperforms 67.69% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.03% | ||
| ROE | -5.39% | ||
| ROIC | N/A |
ROA(3y)0.33%
ROA(5y)0.73%
ROE(3y)1.92%
ROE(5y)3.69%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
BXMT has a Gross Margin (23.42%) which is comparable to the rest of the industry.
BXMT's Gross Margin has declined in the last couple of years.
BXMT does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 23.42% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-22.26%
GM growth 5Y-13.39%
2. Health
2.1 Basic Checks
BXMT does not have a ROIC to compare to the WACC, probably because it is not profitable.
BXMT has less shares outstanding than it did 1 year ago.
The number of shares outstanding for BXMT has been increased compared to 5 years ago.
Compared to 1 year ago, BXMT has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.08, we must say that BXMT is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BXMT (0.08) is better than 73.85% of its industry peers.
The Debt to FCF ratio of BXMT is 43.01, which is on the high side as it means it would take BXMT, 43.01 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of BXMT (43.01) is better than 61.54% of its industry peers.
A Debt/Equity ratio of 4.15 is on the high side and indicates that BXMT has dependencies on debt financing.
BXMT has a Debt to Equity ratio of 4.15. This is comparable to the rest of the industry: BXMT outperforms 53.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.15 | ||
| Debt/FCF | 43.01 | ||
| Altman-Z | 0.08 |
ROIC/WACCN/A
WACC7.06%
2.3 Liquidity
BXMT has a Current Ratio of 2.96. This indicates that BXMT is financially healthy and has no problem in meeting its short term obligations.
BXMT's Current ratio of 2.96 is amongst the best of the industry. BXMT outperforms 90.77% of its industry peers.
A Quick Ratio of 2.96 indicates that BXMT has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.96, BXMT belongs to the top of the industry, outperforming 90.77% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.96 | ||
| Quick Ratio | 2.96 |
3. Growth
3.1 Past
BXMT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -101.31%.
BXMT shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -12.54%.
The Revenue has been growing by 15.09% on average over the past years. This is quite good.
EPS 1Y (TTM)-101.31%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-281.16%
Revenue 1Y (TTM)-12.54%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-33.95%
3.2 Future
BXMT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 287.31% yearly.
The Revenue is expected to decrease by -0.35% on average over the next years.
EPS Next Y2346.83%
EPS Next 2Y559.8%
EPS Next 3Y287.31%
EPS Next 5YN/A
Revenue Next Year-9.57%
Revenue Next 2Y-1.34%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
BXMT reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
BXMT is valuated rather expensively with a Price/Forward Earnings ratio of 20.83.
Based on the Price/Forward Earnings ratio, BXMT is valued a bit more expensive than 67.69% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.38. BXMT is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 20.83 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, BXMT is valued a bit cheaper than 70.77% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.78 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
BXMT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BXMT's earnings are expected to grow with 287.31% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y559.8%
EPS Next 3Y287.31%
5. Dividend
5.1 Amount
BXMT has a Yearly Dividend Yield of 10.06%, which is a nice return.
Compared to an average industry Dividend Yield of 14.56, BXMT's dividend is way lower than its industry peers. On top of this 92.31% of the companies listed in the same industry pay a better dividend than BXMT!
BXMT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.47.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.06% |
5.2 History
The dividend of BXMT decreases each year by -1.26%.
BXMT has paid a dividend for at least 10 years, which is a reliable track record.
BXMT has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-1.26%
Div Incr Years0
Div Non Decr Years10
5.3 Sustainability
The earnings of BXMT are negative and hence is the payout ratio. BXMT will probably not be able to sustain this dividend level.
DP-197.96%
EPS Next 2Y559.8%
EPS Next 3Y287.31%
18.72
+0.03 (+0.16%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners64.86%
Inst Owner Change-36.05%
Ins Owners1.03%
Ins Owner Change4.31%
Market Cap3.21B
Analysts76
Price Target20.91 (11.7%)
Short Float %8.84%
Short Ratio7.67
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.06% |
Yearly Dividend2.34
Dividend Growth(5Y)-1.26%
DP-197.96%
Div Incr Years0
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.94%
Min EPS beat(2)-18.98%
Max EPS beat(2)24.85%
EPS beat(4)2
Avg EPS beat(4)-4.83%
Min EPS beat(4)-25.5%
Max EPS beat(4)24.85%
EPS beat(8)6
Avg EPS beat(8)2.79%
EPS beat(12)9
Avg EPS beat(12)3.76%
EPS beat(16)12
Avg EPS beat(16)4.13%
Revenue beat(2)0
Avg Revenue beat(2)-8.98%
Min Revenue beat(2)-9.99%
Max Revenue beat(2)-7.97%
Revenue beat(4)0
Avg Revenue beat(4)-7.18%
Min Revenue beat(4)-9.99%
Max Revenue beat(4)-5.16%
Revenue beat(8)2
Avg Revenue beat(8)-3.67%
Revenue beat(12)6
Avg Revenue beat(12)39.49%
Revenue beat(16)10
Avg Revenue beat(16)49.64%
PT rev (1m)0%
PT rev (3m)2.14%
EPS NQ rev (1m)-53.82%
EPS NQ rev (3m)-82.22%
EPS NY rev (1m)-17.17%
EPS NY rev (3m)-39.44%
Revenue NQ rev (1m)-1.01%
Revenue NQ rev (3m)-7.98%
Revenue NY rev (1m)-0.94%
Revenue NY rev (3m)-4.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 20.83 | ||
| P/S | 1.8 | ||
| P/FCF | 8.78 | ||
| P/OCF | 8.77 | ||
| P/B | 0.85 | ||
| P/tB | 0.85 | ||
| EV/EBITDA | N/A |
EPS(TTM)-0.04
EYN/A
EPS(NY)0.9
Fwd EY4.8%
FCF(TTM)2.13
FCFY11.39%
OCF(TTM)2.14
OCFY11.41%
SpS10.39
BVpS22.07
TBVpS22.07
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.03% | ||
| ROE | -5.39% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | N/A | ||
| GM | 23.42% | ||
| FCFM | 20.53% |
ROA(3y)0.33%
ROA(5y)0.73%
ROE(3y)1.92%
ROE(5y)3.69%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-22.26%
GM growth 5Y-13.39%
F-Score6
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.15 | ||
| Debt/FCF | 43.01 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 6.27% | ||
| Cap/Sales | 0.03% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.96 | ||
| Quick Ratio | 2.96 | ||
| Altman-Z | 0.08 |
F-Score6
WACC7.06%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-101.31%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-281.16%
EPS Next Y2346.83%
EPS Next 2Y559.8%
EPS Next 3Y287.31%
EPS Next 5YN/A
Revenue 1Y (TTM)-12.54%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-33.95%
Revenue Next Year-9.57%
Revenue Next 2Y-1.34%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A
EBIT growth 1Y-152.46%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-20.26%
FCF growth 3Y-1.47%
FCF growth 5Y3.77%
OCF growth 1Y-20.14%
OCF growth 3Y-1.42%
OCF growth 5Y3.81%