IMPAC MORTGAGE HOLDINGS INC's gross profit margin for the second quarter of its fiscal year 2014 has increased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its industry.
During the same period, stockholders' equity ("net worth") has decreased by 20.77% from the same quarter last year.
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|Income Statement||Q2 FY14||Q2 FY13|
|Net Sales ($mil)||79.67||106.45|
|Net Income ($mil)||0.08||1.22|
|Balance Sheet||Q2 FY14||Q2 FY13|
|Cash & Equiv. ($mil)||23.0||18.56|
|Total Assets ($mil)||5719.98||5922.07|
|Total Debt ($mil)||5664.36||5856.82|
|Profitability||Q2 FY14||Q2 FY13|
|Gross Profit Margin||82.58||76.16|
|Return on Assets||-0.2||-0.03|
|Return on Equity||-36.22||32.65|
|Debt||Q2 FY14||Q2 FY13|
|Share Data||Q2 FY14||Q2 FY13|
|Shares outstanding (mil)||9.32||8.76|
|Div / share||0.0||0.0|
|Book value / share||2.77||3.71|
|Institutional Own %||n/a||n/a|
|Avg Daily Volume||13546.0||15868.0|
SELL. This stock?s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. Conducting a second comparison, its price-to-book ratio of 1.89 indicates a discount versus the S&P 500 average of 2.49 and a premium versus the industry average of 1.46. 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 24.33||IMH 0.20||Peers 16.76|
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 22.67||IMH NA||Peers 3.14|
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 1.89||Peers 1.46||IMH -180.30||Peers 21.27|
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 0.14||Peers 4.20||IMH -30.63||Peers 12.00|
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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