Impac Mortgage Holdings Inc

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IMH : AMEX : Financial
$15.71 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 69000.0
05/22/17 - 4:02 PM ET

Financial Analysis


IMPAC MORTGAGE HOLDINGS INC's gross profit margin for the fourth quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income significantly, outpacing the average growth rates of competitors within its industry.

At the same time, stockholders' equity ("net worth") has greatly increased by 101.79% from the same quarter last year.

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Income Statement Q4 FY16 Q4 FY15
Net Sales ($mil)139.29102.5
EBITDA ($mil)0.00.0
EBIT ($mil)85.9866.03
Net Income ($mil)16.9410.71


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)46.0735.88
Total Assets ($mil)4863.735211.32
Total Debt ($mil)4540.265011.17
Equity ($mil)231.04114.49


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin61.7364.42
EBITDA Margin0.00.0
Operating Margin61.7364.42
Sales Turnover0.120.09
Return on Assets0.951.55
Return on Equity20.1970.57
Debt Q4 FY16 Q4 FY15
Current Ratio0.00.0
Debt/Capital0.950.98
Interest Expense61.2966.81
Interest Coverage1.40.99


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)16.0210.33
Div / share0.00.0
EPS1.00.84
Book value / share14.4211.09
Institutional Own % n/a n/a
Avg Daily Volume67200.062546.0

Valuation


HOLD. IMPAC MORTGAGE HOLDINGS INC's P/E ratio indicates a significant discount compared to an average of 23.81 for the Thrifts & Mortgage Finance industry and a significant discount compared to the S&P 500 average of 25.02. Conducting a second comparison, its price-to-book ratio of 1.07 indicates a significant discount versus the S&P 500 average of 3.00 and a discount versus the industry average of 1.61. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, IMPAC MORTGAGE HOLDINGS INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
IMH 4.87 Peers 23.81   IMH 3.79 Peers 15.83

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

IMH is trading at a significant discount to its peers.

 

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.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
IMH 3.33 Peers 21.12   IMH NM Peers 1.97

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

IMH is trading at a significant discount to its peers.

 

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.

IMH's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
IMH 1.07 Peers 1.61   IMH -51.75 Peers 198.05

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

IMH is trading at a significant discount 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.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
IMH 0.44 Peers 4.30   IMH 26.50 Peers 10.95

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.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

IMH has a sales growth rate that significantly exceeds its peers.

 

 

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