IMPAC MORTGAGE HOLDINGS INC's gross profit margin for the third quarter of its fiscal year 2014 has increased when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not.
During the same period, stockholders' equity ("net worth") has decreased by 5.89% from the same quarter last year.
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|Income Statement||Q3 FY14||Q3 FY13|
|Net Sales ($mil)||92.11||91.3|
|Net Income ($mil)||-1.2||-4.95|
|Balance Sheet||Q3 FY14||Q3 FY13|
|Cash & Equiv. ($mil)||15.06||17.5|
|Total Assets ($mil)||5660.81||5669.95|
|Total Debt ($mil)||5612.77||5604.82|
|Profitability||Q3 FY14||Q3 FY13|
|Gross Profit Margin||85.37||76.6|
|Return on Assets||-0.13||-0.08|
|Return on Equity||-19.26||-2.78|
|Debt||Q3 FY14||Q3 FY13|
|Share Data||Q3 FY14||Q3 FY13|
|Shares outstanding (mil)||9.59||8.88|
|Div / share||0.0||0.0|
|Book value / share||2.78||3.19|
|Institutional Own %||n/a||n/a|
|Avg Daily Volume||33545.0||13310.0|
SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 5.19 indicates a significant premium versus the S&P 500 average of 2.84 and a significant premium versus the industry average of 1.53. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, IMPAC MORTGAGE HOLDINGS INC proves to trade at a premium to investment alternatives within the industry.
|IMH NM||Peers 24.12||IMH 3.83||Peers 18.76|
Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.
IMH's P/E is negative making this valuation measure meaningless.
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.
IMH is trading at a significant discount to its peers.
|IMH NA||Peers 29.32||IMH NA||Peers 2.84|
Neutral. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth potential.
Ratio not available.
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.
Ratio not available.
|IMH 5.19||Peers 1.53||IMH -728.57||Peers 69.34|
Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.
IMH is trading at a significant premium to its peers.
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.
However, IMH is expected to significantly trail its peers on the basis of its earnings growth rate.
|IMH 0.41||Peers 4.31||IMH -21.73||Peers 22.03|
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.
IMH is trading at a significant discount to its industry on this measurement.
Lower. A sales growth rate that trails the industry implies that a company is losing market share.
IMH significantly trails its peers on the basis of sales growth
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