Chimera Investment Corporation (CIM) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-748.1%

-$54.96

vs $8.48 price

Levered DCF

-$125.18

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.53

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	4.44×	12.5×	27.22×	-2.19×	5.91×	146.43×	11.3×	9.05×
P/B	0.4×	0.45×	0.45×	0.48×	0.94×	0.58×	0.97×	0.9×
P/S	1.24×	4.4×	5.6×	-3.1×	3.34×	9.64×	7.88×	7.37×
EV / EBITDA	17.38×	16.45×	17.36×	-98.16×	13.26×	150.42×	432.56×	23.77×
Gross margin	94.9%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	89.2%
Operating margin	93.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	87.2%
Net margin	28.1%	68.3%	61.6%	123.6%	63.4%	39.2%	84.7%	90.9%
Current ratio	0.07×	2.6×	3.98×	2.88×	2.32×	2.37×	0.97×	0.79×
Debt / equity	5.08×	3.96×	3.95×	3.98×	2.96×	3.58×	5.5×	6.11×
Interest coverage	1.38×	0×	0×	0×	0×	0×	0×	0.58×
Dividend yield	20.4%	19.7%	21.8%	28.1%	10.6%	18.2%	11.6%	12.5%
Payout ratio	90.6%	126.8%	198.7%	-70.5%	55.6%	446.1%	108.1%	101.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	7.0%	4.9%	-19.2%	17.9%	2.4%	10.5%	11.1%
Return on invested capital	4.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.5%
Return on assets	1.5%	1.3%	1.0%	-3.8%	4.3%	0.5%	1.5%	1.5%
Free cash flow yield	-24.4%	18.1%	18.6%	25.3%	14.7%	11.8%	1.7%	8.9%
Earnings yield	22.6%	15.5%	11.0%	-39.9%	19.0%	4.1%	10.7%	12.3%
Enterprise value	$13.8B	$11.1B	$11B	$11.6B	$14.2B	$15.4B	$25.5B	$25.9B
Net debt / EBITDA	16.09×	14.76×	15.55×	-87.31×	9.97×	129.13×	367.23×	20.72×
Cash conversion cycle (days)	52	15,845	20,315	-9,986	4,234	21,139	10,687	1,570