Intrinsic value of Chimera Investment - CIM

Previous Close

$18.43

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$18.43

 
Intrinsic value

$128.52

 
Up/down potential

+597%

 
Rating

str. buy

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying
Our model is not good at valuating stocks of financial companies, such as CIM.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CIM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.99
  29.20
  26.78
  24.60
  22.64
  20.88
  19.29
  17.86
  16.57
  15.42
  14.38
  13.44
  12.59
  11.83
  11.15
  10.54
  9.98
  9.48
  9.04
  8.63
  8.27
  7.94
  7.65
  7.38
  7.14
  6.93
  6.74
  6.56
  6.41
  6.27
  6.14
Revenue, $m
  934
  1,207
  1,530
  1,906
  2,338
  2,826
  3,371
  3,973
  4,632
  5,346
  6,114
  6,936
  7,810
  8,734
  9,708
  10,731
  11,802
  12,921
  14,089
  15,305
  16,570
  17,886
  19,254
  20,676
  22,153
  23,688
  25,284
  26,944
  28,670
  30,467
  32,338
Variable operating expenses, $m
 
  859
  1,089
  1,357
  1,665
  2,012
  2,400
  2,829
  3,298
  3,806
  4,353
  4,938
  5,560
  6,218
  6,912
  7,640
  8,403
  9,200
  10,031
  10,897
  11,798
  12,735
  13,709
  14,721
  15,773
  16,866
  18,002
  19,184
  20,413
  21,692
  23,024
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  382
  859
  1,089
  1,357
  1,665
  2,012
  2,400
  2,829
  3,298
  3,806
  4,353
  4,938
  5,560
  6,218
  6,912
  7,640
  8,403
  9,200
  10,031
  10,897
  11,798
  12,735
  13,709
  14,721
  15,773
  16,866
  18,002
  19,184
  20,413
  21,692
  23,024
Operating income, $m
  552
  348
  441
  549
  673
  814
  971
  1,144
  1,334
  1,540
  1,761
  1,998
  2,249
  2,515
  2,796
  3,090
  3,399
  3,721
  4,058
  4,408
  4,772
  5,151
  5,545
  5,955
  6,380
  6,822
  7,282
  7,760
  8,257
  8,774
  9,313
EBITDA, $m
  552
  348
  441
  549
  673
  814
  971
  1,144
  1,334
  1,540
  1,761
  1,998
  2,249
  2,515
  2,796
  3,090
  3,399
  3,721
  4,058
  4,408
  4,772
  5,151
  5,545
  5,955
  6,380
  6,822
  7,282
  7,760
  8,257
  8,774
  9,313
Interest expense (income), $m
  335
  444
  577
  738
  925
  1,140
  1,383
  1,655
  1,955
  2,283
  2,638
  3,021
  3,430
  3,865
  4,325
  4,810
  5,320
  5,853
  6,410
  6,992
  7,598
  8,228
  8,883
  9,564
  10,272
  11,008
  11,772
  12,567
  13,394
  14,253
  15,148
Earnings before tax, $m
  552
  -97
  -136
  -189
  -252
  -326
  -412
  -510
  -621
  -743
  -877
  -1,023
  -1,181
  -1,350
  -1,529
  -1,720
  -1,921
  -2,132
  -2,353
  -2,584
  -2,825
  -3,076
  -3,338
  -3,610
  -3,892
  -4,186
  -4,491
  -4,807
  -5,137
  -5,479
  -5,835
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  552
  -97
  -136
  -189
  -252
  -326
  -412
  -510
  -621
  -743
  -877
  -1,023
  -1,181
  -1,350
  -1,529
  -1,720
  -1,921
  -2,132
  -2,353
  -2,584
  -2,825
  -3,076
  -3,338
  -3,610
  -3,892
  -4,186
  -4,491
  -4,807
  -5,137
  -5,479
  -5,835

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  178
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  16,685
  21,171
  26,840
  33,443
  41,016
  49,579
  59,142
  69,706
  81,259
  93,787
  107,270
  121,685
  137,010
  153,225
  170,311
  188,255
  207,048
  226,685
  247,168
  268,504
  290,707
  313,796
  337,795
  362,734
  388,651
  415,586
  443,585
  472,701
  502,988
  534,507
  567,325
Adjusted assets (=assets-cash), $m
  16,507
  21,171
  26,840
  33,443
  41,016
  49,579
  59,142
  69,706
  81,259
  93,787
  107,270
  121,685
  137,010
  153,225
  170,311
  188,255
  207,048
  226,685
  247,168
  268,504
  290,707
  313,796
  337,795
  362,734
  388,651
  415,586
  443,585
  472,701
  502,988
  534,507
  567,325
Revenue / Adjusted assets
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
  0.057
Average production assets, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Working capital, $m
  0
  603
  765
  953
  1,169
  1,413
  1,686
  1,987
  2,316
  2,673
  3,057
  3,468
  3,905
  4,367
  4,854
  5,365
  5,901
  6,461
  7,044
  7,652
  8,285
  8,943
  9,627
  10,338
  11,077
  11,844
  12,642
  13,472
  14,335
  15,233
  16,169
Total debt, $m
  12,876
  16,484
  21,082
  26,438
  32,579
  39,523
  47,279
  55,846
  65,216
  75,376
  86,311
  98,001
  110,430
  123,580
  137,437
  151,990
  167,231
  183,157
  199,768
  217,072
  235,079
  253,803
  273,266
  293,493
  314,511
  336,355
  359,063
  382,675
  407,238
  432,800
  459,416
Total liabilities, $m
  13,561
  17,169
  21,767
  27,123
  33,264
  40,208
  47,964
  56,531
  65,901
  76,061
  86,996
  98,686
  111,115
  124,265
  138,122
  152,675
  167,916
  183,842
  200,453
  217,757
  235,764
  254,488
  273,951
  294,178
  315,196
  337,040
  359,748
  383,360
  407,923
  433,485
  460,101
Total equity, $m
  3,124
  4,001
  5,073
  6,321
  7,752
  9,370
  11,178
  13,174
  15,358
  17,726
  20,274
  22,998
  25,895
  28,959
  32,189
  35,580
  39,132
  42,844
  46,715
  50,747
  54,944
  59,307
  63,843
  68,557
  73,455
  78,546
  83,838
  89,340
  95,065
  101,022
  107,224
Total liabilities and equity, $m
  16,685
  21,170
  26,840
  33,444
  41,016
  49,578
  59,142
  69,705
  81,259
  93,787
  107,270
  121,684
  137,010
  153,224
  170,311
  188,255
  207,048
  226,686
  247,168
  268,504
  290,708
  313,795
  337,794
  362,735
  388,651
  415,586
  443,586
  472,700
  502,988
  534,507
  567,325
Debt-to-equity ratio
  4.122
  4.120
  4.160
  4.180
  4.200
  4.220
  4.230
  4.240
  4.250
  4.250
  4.260
  4.260
  4.260
  4.270
  4.270
  4.270
  4.270
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
  4.280
Adjusted equity ratio
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189
  0.189

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  552
  -97
  -136
  -189
  -252
  -326
  -412
  -510
  -621
  -743
  -877
  -1,023
  -1,181
  -1,350
  -1,529
  -1,720
  -1,921
  -2,132
  -2,353
  -2,584
  -2,825
  -3,076
  -3,338
  -3,610
  -3,892
  -4,186
  -4,491
  -4,807
  -5,137
  -5,479
  -5,835
Depreciation, amort., depletion, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  560
  -97
  -136
  -189
  -252
  -326
  -412
  -510
  -621
  -743
  -877
  -1,023
  -1,181
  -1,350
  -1,529
  -1,720
  -1,921
  -2,132
  -2,353
  -2,584
  -2,825
  -3,076
  -3,338
  -3,610
  -3,892
  -4,186
  -4,491
  -4,807
  -5,137
  -5,479
  -5,835
Change in working capital, $m
  7
  136
  162
  188
  216
  244
  273
  301
  329
  357
  384
  411
  437
  462
  487
  511
  536
  560
  584
  608
  633
  658
  684
  711
  739
  768
  798
  830
  863
  898
  935
Cash from operations, $m
  553
  -233
  -298
  -377
  -468
  -570
  -685
  -812
  -950
  -1,100
  -1,261
  -1,434
  -1,618
  -1,812
  -2,016
  -2,231
  -2,456
  -2,691
  -2,937
  -3,192
  -3,458
  -3,735
  -4,022
  -4,320
  -4,631
  -4,953
  -5,289
  -5,637
  -6,000
  -6,377
  -6,770
Maintenance CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
New CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from investing activities, $m
  -1,271
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Free cash flow, $m
  -718
  -233
  -298
  -377
  -468
  -570
  -685
  -812
  -950
  -1,100
  -1,261
  -1,434
  -1,618
  -1,812
  -2,016
  -2,231
  -2,456
  -2,691
  -2,937
  -3,192
  -3,458
  -3,735
  -4,022
  -4,320
  -4,631
  -4,953
  -5,289
  -5,637
  -6,000
  -6,377
  -6,770
Issuance/(repayment) of debt, $m
  1,096
  3,786
  4,598
  5,355
  6,141
  6,945
  7,756
  8,567
  9,370
  10,160
  10,934
  11,690
  12,429
  13,150
  13,857
  14,553
  15,241
  15,926
  16,612
  17,304
  18,006
  18,725
  19,463
  20,226
  21,018
  21,844
  22,707
  23,612
  24,563
  25,562
  26,615
Issuance/(repurchase) of shares, $m
  140
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,235
  3,786
  4,598
  5,355
  6,141
  6,945
  7,756
  8,567
  9,370
  10,160
  10,934
  11,690
  12,429
  13,150
  13,857
  14,553
  15,241
  15,926
  16,612
  17,304
  18,006
  18,725
  19,463
  20,226
  21,018
  21,844
  22,707
  23,612
  24,563
  25,562
  26,615
Total cash flow (excl. dividends), $m
  518
  3,553
  4,300
  4,978
  5,673
  6,374
  7,071
  7,755
  8,420
  9,060
  9,673
  10,256
  10,811
  11,338
  11,841
  12,322
  12,785
  13,234
  13,675
  14,112
  14,548
  14,990
  15,441
  15,906
  16,388
  16,891
  17,419
  17,975
  18,563
  19,185
  19,845
Retained Cash Flow (-), $m
  -178
  -877
  -1,072
  -1,248
  -1,431
  -1,618
  -1,808
  -1,996
  -2,184
  -2,368
  -2,548
  -2,724
  -2,896
  -3,065
  -3,229
  -3,391
  -3,552
  -3,711
  -3,871
  -4,033
  -4,196
  -4,364
  -4,536
  -4,714
  -4,898
  -5,091
  -5,292
  -5,503
  -5,724
  -5,957
  -6,203
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,676
  3,229
  3,730
  4,242
  4,756
  5,264
  5,759
  6,236
  6,692
  7,125
  7,532
  7,915
  8,274
  8,611
  8,930
  9,233
  9,523
  9,804
  10,079
  10,352
  10,626
  10,905
  11,192
  11,489
  11,800
  12,127
  12,472
  12,839
  13,228
  13,643
Discount rate, %
 
  12.70
  13.34
  14.00
  14.70
  15.44
  16.21
  17.02
  17.87
  18.76
  19.70
  20.69
  21.72
  22.81
  23.95
  25.15
  26.40
  27.72
  29.11
  30.56
  32.09
  33.70
  35.38
  37.15
  39.01
  40.96
  43.01
  45.16
  47.41
  49.79
  52.27
PV of cash for distribution, $m
 
  2,374
  2,513
  2,518
  2,451
  2,320
  2,137
  1,917
  1,674
  1,424
  1,180
  952
  748
  573
  426
  309
  217
  149
  99
  63
  40
  24
  14
  8
  4
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. Chimera Investment Corporation was founded in 2007 and is based in New York, New York.

FINANCIAL RATIOS  of  Chimera Investment (CIM)

Valuation Ratios
P/E Ratio 6.3
Price to Sales 3.7
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 6.3
Price to Free Cash Flow 6.3
Growth Rates
Sales Growth Rate 7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 232.9%
Total Debt to Equity 412.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 4.6%
Return On Total Capital 3.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.4%
Return On Equity 18.2%
Return On Equity - 3 Yr. Avg. 14.3%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 59.4%
Gross Margin - 3 Yr. Avg. 66%
EBITDA Margin 95%
EBITDA Margin - 3 Yr. Avg. 84.2%
Operating Margin 59.1%
Oper. Margin - 3 Yr. Avg. 57.8%
Pre-Tax Margin 59.1%
Pre-Tax Margin - 3 Yr. Avg. 57.8%
Net Profit Margin 59.1%
Net Profit Margin - 3 Yr. Avg. 57.8%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 82.2%

CIM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CIM stock intrinsic value calculation we used $934 million for the last fiscal year's total revenue generated by Chimera Investment. The default revenue input number comes from 2016 income statement of Chimera Investment. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CIM stock valuation model: a) initial revenue growth rate of 29.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 12.7%, whose default value for CIM is calculated based on our internal credit rating of Chimera Investment, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Chimera Investment.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CIM stock the variable cost ratio is equal to 71.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CIM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Chimera Investment.

Corporate tax rate of 27% is the nominal tax rate for Chimera Investment. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CIM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CIM are equal to 0%.

Life of production assets of 10 years is the average useful life of capital assets used in Chimera Investment operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CIM is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3124 million for Chimera Investment - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 187.81 million for Chimera Investment is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Chimera Investment at the current share price and the inputted number of shares is $3.5 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
NYMT New York Mortg 6.21 prem.  prem.
CYS CYS Investment 8.34 prem.  prem.
NLY Annaly Capital 11.68 prem.  prem.
ARI Apollo Commerc 18.68 prem.  prem.
MTGE MTGE Investmen 18.15 prem.  prem.
AGM Federal Agricu 61.02 prem.  prem.

COMPANY NEWS

▶ Chimera posts 1Q profit   [May-01-17 04:46PM  Associated Press]
▶ These REITS Continue to Perform Strongly   [01:00PM  Investopedia]
▶ Chimera posts 4Q profit   [Feb-14-17 06:09PM  Associated Press]
▶ Mortgage REITs Vulnerable to Fed Balance Sheet Shrinkage   [Feb-09-17 04:20PM  at Barrons.com]
▶ Billionaire Leon Coopermans Top Dividend Stock Picks   [Dec-16-16 01:54PM  at Insider Monkey]
▶ Omega Advisors: Exits Apple, Slashes Chimera, Adds Citigroup   [Aug-15-16 02:55PM  at Barrons.com]
▶ 10 NYSE Stocks Hitting 52-Week Highs Monday   [Jul-19-16 11:07AM  at Insider Monkey]
▶ Nomura: Chimera's Big Dividend Is 'More than Sustainable'   [Jun-30-16 11:51AM  at Barrons.com]
Stock chart of CIM Financial statements of CIM Annual reports of CIM
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.