Annual Income Statements for New York Mortgage Trust
This table shows New York Mortgage Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for New York Mortgage Trust
This table shows New York Mortgage Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-126 |
-48 |
11 |
-37 |
-95 |
31 |
-68 |
-26 |
65 |
-74 |
Consolidated Net Income / (Loss) |
|
-117 |
-29 |
23 |
-23 |
-129 |
87 |
-80 |
-18 |
43 |
-72 |
Net Income / (Loss) Continuing Operations |
|
-118 |
-43 |
14 |
-31 |
-94 |
33 |
-80 |
-24 |
40 |
-30 |
Total Pre-Tax Income |
|
-117 |
-28 |
23 |
-23 |
-129 |
87 |
-80 |
-18 |
43 |
-71 |
Total Revenue |
|
94 |
-204 |
70 |
25 |
40 |
1.90 |
-56 |
31 |
128 |
165 |
Net Interest Income / (Expense) |
|
30 |
22 |
18 |
15 |
17 |
17 |
0.00 |
19 |
20 |
362 |
Total Interest Income |
|
69 |
-66 |
57 |
15 |
17 |
-23 |
0.00 |
19 |
108 |
274 |
Total Interest Expense |
|
39 |
-89 |
39 |
0.00 |
0.00 |
-39 |
0.00 |
0.00 |
88 |
-88 |
Total Non-Interest Income |
|
64 |
-226 |
52 |
9.96 |
23 |
-15 |
-56 |
12 |
108 |
-197 |
Net Realized & Unrealized Capital Gains on Investments |
|
16 |
16 |
-8.95 |
-7.76 |
-11 |
-3.13 |
-56 |
-13 |
35 |
-129 |
Total Non-Interest Expense |
|
56 |
-34 |
47 |
49 |
109 |
-26 |
24 |
48 |
88 |
250 |
Other Operating Expenses |
|
23 |
-40 |
41 |
42 |
103 |
-32 |
24 |
36 |
69 |
240 |
Income Tax Expense |
|
-0.33 |
0.80 |
0.02 |
-0.02 |
-0.06 |
0.13 |
-0.11 |
0.34 |
2.33 |
-1.52 |
Preferred Stock Dividends Declared |
|
10 |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
10 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
-2.62 |
-5.64 |
-6.70 |
-3.89 |
-9.36 |
-9.18 |
-22 |
-8.49 |
-2.38 |
1.11 |
Basic Earnings per Share |
|
($1.33) |
($0.51) |
$0.12 |
($0.41) |
($1.04) |
$0.35 |
($0.75) |
($0.29) |
$0.36 |
($0.82) |
Weighted Average Basic Shares Outstanding |
|
94.27M |
94.32M |
91.31M |
91.19M |
90.98M |
91.04M |
91.12M |
90.99M |
90.58M |
90.82M |
Diluted Earnings per Share |
|
($1.33) |
($0.51) |
$0.11 |
($0.41) |
($1.04) |
$0.35 |
($0.75) |
($0.29) |
$0.36 |
($0.82) |
Weighted Average Diluted Shares Outstanding |
|
94.27M |
94.32M |
91.67M |
91.19M |
90.98M |
91.04M |
91.12M |
90.99M |
90.59M |
90.82M |
Basic & Diluted Earnings per Share |
|
- |
($0.51) |
- |
- |
- |
$0.35 |
- |
- |
- |
($0.82) |
Weighted Average Basic & Diluted Shares Outstanding |
|
371.06M |
365.64M |
91.18M |
91.25M |
90.68M |
91.23M |
91.23M |
90.58M |
90.58M |
90.57M |
Cash Dividends to Common per Share |
|
$0.10 |
$0.51 |
$0.40 |
$0.30 |
$0.30 |
$0.41 |
$0.20 |
$0.20 |
$0.20 |
$0.31 |
Annual Cash Flow Statements for New York Mortgage Trust
This table details how cash moves in and out of New York Mortgage Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
43 |
-50 |
-1.62 |
Net Cash From Operating Activities |
92 |
30 |
14 |
Net Cash From Continuing Operating Activities |
92 |
30 |
14 |
Net Income / (Loss) Continuing Operations |
-341 |
-78 |
-94 |
Consolidated Net Income / (Loss) |
-341 |
-78 |
-94 |
Depreciation Expense |
127 |
25 |
40 |
Amortization Expense |
26 |
28 |
20 |
Non-Cash Adjustments to Reconcile Net Income |
294 |
72 |
63 |
Changes in Operating Assets and Liabilities, net |
-15 |
-17 |
-15 |
Net Cash From Investing Activities |
-509 |
-1,220 |
-2,244 |
Net Cash From Continuing Investing Activities |
-509 |
-1,220 |
-2,235 |
Purchase of Property, Leasehold Improvements and Equipment |
-209 |
-50 |
-25 |
Acquisitions |
-28 |
-52 |
-1.50 |
Purchase of Investment Securities |
-1,939 |
-2,603 |
-4,077 |
Divestitures |
137 |
231 |
164 |
Sale and/or Maturity of Investments |
1,531 |
1,283 |
1,637 |
Other Investing Activities, net |
0.00 |
-27 |
67 |
Net Cash From Financing Activities |
460 |
1,140 |
2,229 |
Net Cash From Continuing Financing Activities |
460 |
1,140 |
2,229 |
Issuance of Debt |
973 |
-149 |
1,356 |
Repayment of Debt |
-253 |
-46 |
-61 |
Repurchase of Preferred Equity |
0.00 |
-2.44 |
0.00 |
Repurchase of Common Equity |
-44 |
-8.62 |
-3.49 |
Payment of Dividends |
-193 |
-171 |
-117 |
Other Financing Activities, Net |
-23 |
1,517 |
1,054 |
Cash Interest Paid |
161 |
250 |
345 |
Cash Income Taxes Paid |
2.67 |
0.23 |
-0.03 |
Quarterly Cash Flow Statements for New York Mortgage Trust
This table details how cash moves in and out of New York Mortgage Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-72 |
-99 |
-38 |
2.47 |
9.96 |
-25 |
60 |
-23 |
-36 |
-2.97 |
Net Cash From Operating Activities |
|
5.17 |
8.41 |
-11 |
-0.10 |
28 |
13 |
-13 |
-0.99 |
-0.92 |
29 |
Net Cash From Continuing Operating Activities |
|
5.17 |
8.41 |
-11 |
-0.10 |
28 |
13 |
-13 |
-0.99 |
-0.92 |
29 |
Net Income / (Loss) Continuing Operations |
|
-118 |
-43 |
14 |
-31 |
-94 |
33 |
-80 |
-24 |
40 |
-30 |
Consolidated Net Income / (Loss) |
|
-118 |
-43 |
14 |
-31 |
-94 |
33 |
-80 |
-24 |
40 |
-30 |
Depreciation Expense |
|
33 |
5.91 |
6.04 |
6.13 |
6.20 |
6.25 |
13 |
12 |
8.13 |
6.88 |
Amortization Expense |
|
5.90 |
7.41 |
7.74 |
7.21 |
6.43 |
6.12 |
2.31 |
6.67 |
5.70 |
5.55 |
Non-Cash Adjustments to Reconcile Net Income |
|
88 |
51 |
-21 |
16 |
99 |
-22 |
57 |
5.91 |
-46 |
45 |
Changes in Operating Assets and Liabilities, net |
|
-3.79 |
-12 |
-18 |
1.19 |
10 |
-10 |
-5.21 |
-1.72 |
-9.59 |
1.48 |
Net Cash From Investing Activities |
|
311 |
291 |
57 |
-121 |
-758 |
-397 |
-254 |
-572 |
-834 |
-584 |
Net Cash From Continuing Investing Activities |
|
311 |
291 |
57 |
-121 |
-758 |
-397 |
-254 |
-572 |
-834 |
-575 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-23 |
-13 |
-18 |
-15 |
-12 |
-5.61 |
-5.99 |
-7.57 |
-7.64 |
-3.45 |
Purchase of Investment Securities |
|
-104 |
-67 |
-215 |
-646 |
-1,127 |
-615 |
-603 |
-930 |
-1,333 |
-1,211 |
Divestitures |
|
48 |
30 |
1.11 |
188 |
1.80 |
39 |
4.82 |
14 |
96 |
50 |
Sale and/or Maturity of Investments |
|
391 |
370 |
292 |
335 |
358 |
298 |
315 |
349 |
468 |
505 |
Other Investing Activities, net |
|
- |
- |
-2.49 |
16 |
21 |
-62 |
34 |
3.36 |
-57 |
86 |
Net Cash From Financing Activities |
|
-388 |
-399 |
-84 |
124 |
740 |
360 |
327 |
551 |
799 |
552 |
Net Cash From Continuing Financing Activities |
|
-388 |
-399 |
-84 |
124 |
740 |
360 |
327 |
551 |
799 |
552 |
Issuance of Debt |
|
233 |
231 |
14 |
-14 |
- |
-149 |
501 |
303 |
311 |
240 |
Repayment of Debt |
|
-74 |
115 |
-91 |
-169 |
-63 |
276 |
-183 |
-159 |
-134 |
415 |
Payment of Dividends |
|
-49 |
-48 |
-48 |
-47 |
-38 |
-38 |
-31 |
-29 |
-29 |
-29 |
Other Financing Activities, Net |
|
-484 |
-674 |
46 |
354 |
847 |
270 |
39 |
439 |
650 |
-74 |
Cash Interest Paid |
|
45 |
55 |
55 |
61 |
59 |
75 |
75 |
82 |
92 |
96 |
Cash Income Taxes Paid |
|
0.17 |
2.40 |
0.00 |
0.24 |
0.03 |
-0.04 |
0.15 |
-0.25 |
- |
0.07 |
Annual Balance Sheets for New York Mortgage Trust
This table presents New York Mortgage Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
6,241 |
7,401 |
9,217 |
Cash and Due from Banks |
245 |
187 |
167 |
Trading Account Securities |
3,804 |
5,245 |
7,784 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
Other Assets |
2,192 |
1,969 |
1,266 |
Total Liabilities & Shareholders' Equity |
6,241 |
7,401 |
9,217 |
Total Liabilities |
4,377 |
5,773 |
7,806 |
Short-Term Debt |
737 |
2,471 |
4,012 |
Long-Term Debt |
2,640 |
2,798 |
3,549 |
Other Long-Term Liabilities |
1,000 |
504 |
245 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
64 |
28 |
12 |
Total Equity & Noncontrolling Interests |
1,800 |
1,600 |
1,399 |
Total Preferred & Common Equity |
1,767 |
1,580 |
1,395 |
Preferred Stock |
538 |
535 |
535 |
Total Common Equity |
1,229 |
1,044 |
859 |
Common Stock |
2,284 |
2,298 |
2,290 |
Retained Earnings |
-1,053 |
-1,254 |
-1,431 |
Accumulated Other Comprehensive Income / (Loss) |
-1.97 |
-0.00 |
0.00 |
Noncontrolling Interest |
33 |
20 |
4.06 |
Quarterly Balance Sheets for New York Mortgage Trust
This table presents New York Mortgage Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
6,769 |
6,170 |
6,279 |
6,938 |
7,447 |
8,229 |
8,906 |
Cash and Due from Banks |
|
355 |
228 |
232 |
228 |
227 |
236 |
195 |
Trading Account Securities |
|
4,242 |
3,769 |
4,040 |
4,850 |
5,482 |
6,411 |
7,309 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Other Assets |
|
2,173 |
2,174 |
2,007 |
1,859 |
1,737 |
1,582 |
1,402 |
Total Liabilities & Shareholders' Equity |
|
6,769 |
6,170 |
6,279 |
6,938 |
7,447 |
8,229 |
8,906 |
Total Liabilities |
|
4,788 |
4,347 |
4,525 |
5,321 |
5,927 |
6,764 |
7,434 |
Short-Term Debt |
|
1,215 |
788 |
1,145 |
1,995 |
2,512 |
2,952 |
3,611 |
Long-Term Debt |
|
2,500 |
2,569 |
2,527 |
2,443 |
3,182 |
3,346 |
3,499 |
Other Long-Term Liabilities |
|
1,073 |
990 |
854 |
884 |
233 |
466 |
324 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
28 |
54 |
35 |
21 |
20 |
23 |
22 |
Total Equity & Noncontrolling Interests |
|
1,954 |
1,769 |
1,719 |
1,596 |
1,499 |
1,442 |
1,450 |
Total Preferred & Common Equity |
|
1,918 |
1,738 |
1,691 |
1,575 |
1,485 |
1,432 |
1,444 |
Preferred Stock |
|
538 |
538 |
537 |
535 |
535 |
535 |
535 |
Total Common Equity |
|
1,379 |
1,200 |
1,154 |
1,040 |
950 |
896 |
909 |
Common Stock |
|
2,347 |
2,280 |
2,300 |
2,308 |
2,290 |
2,282 |
2,280 |
Retained Earnings |
|
-966 |
-1,079 |
-1,144 |
-1,266 |
-1,341 |
-1,385 |
-1,371 |
Accumulated Other Comprehensive Income / (Loss) |
|
-2.05 |
-1.38 |
-1.76 |
-1.83 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest |
|
37 |
31 |
28 |
20 |
14 |
9.75 |
5.99 |
Annual Metrics And Ratios for New York Mortgage Trust
This table displays calculated financial ratios and metrics derived from New York Mortgage Trust's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
-148.16% |
213.58% |
95.62% |
EBITDA Growth |
-188.90% |
105.60% |
-956.77% |
EBIT Growth |
-328.98% |
86.91% |
-235.20% |
NOPAT Growth |
-262.56% |
86.91% |
-235.20% |
Net Income Growth |
-287.74% |
86.91% |
-199.44% |
EPS Growth |
-287.74% |
72.58% |
-15.15% |
Operating Cash Flow Growth |
-33.93% |
-67.37% |
-53.02% |
Free Cash Flow Firm Growth |
103.61% |
-5,918.92% |
-29.00% |
Invested Capital Growth |
-4.66% |
31.60% |
30.09% |
Revenue Q/Q Growth |
-164.63% |
299.23% |
155.99% |
EBITDA Q/Q Growth |
-362.48% |
105.17% |
-378.81% |
EBIT Q/Q Growth |
-260.37% |
82.24% |
-368.36% |
NOPAT Q/Q Growth |
-260.37% |
73.02% |
-445.54% |
Net Income Q/Q Growth |
-17.65% |
73.10% |
-508.05% |
EPS Q/Q Growth |
-17.65% |
46.77% |
-5,800.00% |
Operating Cash Flow Q/Q Growth |
-36.39% |
18.46% |
815.72% |
Free Cash Flow Firm Q/Q Growth |
102.99% |
-260.69% |
12.98% |
Invested Capital Q/Q Growth |
-8.00% |
13.93% |
4.55% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
0.00% |
7.03% |
-30.79% |
EBIT Margin |
0.00% |
-31.06% |
-53.22% |
Profit (Net Income) Margin |
0.00% |
-31.11% |
-47.62% |
Tax Burden Percent |
100.17% |
100.18% |
100.82% |
Interest Burden Percent |
100.00% |
100.00% |
88.76% |
Effective Tax Rate |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
0.00% |
-0.49% |
-1.26% |
ROIC Less NNEP Spread (ROIC-NNEP) |
0.00% |
-0.79% |
-1.69% |
Return on Net Nonoperating Assets (RNNOA) |
0.00% |
-1.95% |
-7.13% |
Return on Equity (ROE) |
-15.14% |
-2.44% |
-8.39% |
Cash Return on Invested Capital (CROIC) |
0.54% |
-27.78% |
-27.41% |
Operating Return on Assets (OROA) |
0.00% |
-0.62% |
-1.71% |
Return on Assets (ROA) |
0.00% |
-0.62% |
-1.53% |
Return on Common Equity (ROCE) |
-10.69% |
-1.59% |
-5.25% |
Return on Equity Simple (ROE_SIMPLE) |
-18.41% |
-2.70% |
-9.14% |
Net Operating Profit after Tax (NOPAT) |
-227 |
-30 |
-100 |
NOPAT Margin |
0.00% |
-21.74% |
-37.25% |
Net Nonoperating Expense Percent (NNEP) |
3.04% |
0.30% |
0.43% |
SG&A Expenses to Revenue |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
0.00% |
131.06% |
153.22% |
Earnings before Interest and Taxes (EBIT) |
-325 |
-43 |
-142 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
-172 |
9.62 |
-82 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
0.60 |
0.65 |
0.64 |
Price to Tangible Book Value (P/TBV) |
0.60 |
0.65 |
0.64 |
Price to Revenue (P/Rev) |
0.00 |
4.97 |
2.05 |
Price to Earnings (P/E) |
0.00 |
0.00 |
0.00 |
Dividend Yield |
20.15% |
15.99% |
13.20% |
Earnings Yield |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
0.86 |
0.92 |
0.95 |
Enterprise Value to Revenue (EV/Rev) |
0.00 |
46.38 |
31.73 |
Enterprise Value to EBITDA (EV/EBITDA) |
0.00 |
659.74 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
49.07 |
211.89 |
603.71 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
155.43 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
1.81 |
3.24 |
5.36 |
Long-Term Debt to Equity |
1.42 |
1.72 |
2.52 |
Financial Leverage |
1.50 |
2.48 |
4.22 |
Leverage Ratio |
2.77 |
3.91 |
5.47 |
Compound Leverage Factor |
2.77 |
3.91 |
4.85 |
Debt to Total Capital |
64.43% |
76.39% |
84.27% |
Short-Term Debt to Total Capital |
14.06% |
35.83% |
44.72% |
Long-Term Debt to Total Capital |
50.37% |
40.57% |
39.56% |
Preferred Equity to Total Capital |
10.27% |
7.76% |
5.97% |
Noncontrolling Interests to Total Capital |
1.85% |
0.70% |
0.18% |
Common Equity to Total Capital |
23.45% |
15.14% |
9.58% |
Debt to EBITDA |
-19.66 |
547.73 |
-91.74 |
Net Debt to EBITDA |
-18.24 |
528.28 |
-89.71 |
Long-Term Debt to EBITDA |
-15.37 |
290.86 |
-43.06 |
Debt to NOPAT |
-14.86 |
-177.11 |
-75.82 |
Net Debt to NOPAT |
-13.78 |
-170.83 |
-74.15 |
Long-Term Debt to NOPAT |
-11.61 |
-94.05 |
-35.59 |
Noncontrolling Interest Sharing Ratio |
29.43% |
34.91% |
37.37% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
29 |
-1,686 |
-2,175 |
Operating Cash Flow to CapEx |
43.84% |
59.42% |
57.09% |
Free Cash Flow to Firm to Interest Expense |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.00 |
0.02 |
0.03 |
Fixed Asset Turnover |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
5,241 |
6,897 |
8,973 |
Invested Capital Turnover |
0.00 |
0.02 |
0.03 |
Increase / (Decrease) in Invested Capital |
-256 |
1,656 |
2,075 |
Enterprise Value (EV) |
4,504 |
6,347 |
8,495 |
Market Capitalization |
737 |
681 |
549 |
Book Value per Share |
$3.31 |
$11.51 |
$9.49 |
Tangible Book Value per Share |
$3.31 |
$11.51 |
$9.49 |
Total Capital |
5,241 |
6,897 |
8,973 |
Total Debt |
3,377 |
5,269 |
7,561 |
Total Long-Term Debt |
2,640 |
2,798 |
3,549 |
Net Debt |
3,132 |
5,082 |
7,394 |
Capital Expenditures (CapEx) |
209 |
50 |
25 |
Net Nonoperating Expense (NNE) |
98 |
13 |
28 |
Net Nonoperating Obligations (NNO) |
3,377 |
5,269 |
7,561 |
Total Depreciation and Amortization (D&A) |
153 |
52 |
60 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
($3.60) |
($0.99) |
($1.14) |
Adjusted Weighted Average Basic Shares Outstanding |
94.32M |
91.04M |
90.82M |
Adjusted Diluted Earnings per Share |
($3.60) |
($0.99) |
($1.14) |
Adjusted Weighted Average Diluted Shares Outstanding |
94.32M |
91.04M |
90.82M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
91.41M |
91.23M |
90.57M |
Normalized Net Operating Profit after Tax (NOPAT) |
-227 |
-30 |
-100 |
Normalized NOPAT Margin |
0.00% |
-21.74% |
-37.25% |
Pre Tax Income Margin |
0.00% |
-31.06% |
-47.23% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
-59.39% |
-400.93% |
-91.54% |
Augmented Payout Ratio |
-73.04% |
-421.16% |
-94.28% |
Quarterly Metrics And Ratios for New York Mortgage Trust
This table displays calculated financial ratios and metrics derived from New York Mortgage Trust's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
122.37% |
-297.19% |
487.85% |
247.89% |
-57.85% |
100.94% |
-179.42% |
22.23% |
222.32% |
8,567.80% |
EBITDA Growth |
|
178.27% |
-292.33% |
168.68% |
74.19% |
-173.74% |
125.50% |
-277.16% |
110.86% |
194.78% |
-281.46% |
EBIT Growth |
|
168.70% |
-359.61% |
124.29% |
76.26% |
-281.57% |
116.19% |
-447.84% |
24.10% |
157.65% |
-408.60% |
NOPAT Growth |
|
92.56% |
-132.21% |
134.68% |
76.26% |
-281.57% |
536.08% |
-343.66% |
24.10% |
183.19% |
-157.71% |
Net Income Growth |
|
-327.76% |
-248.35% |
125.94% |
74.19% |
-10.38% |
396.84% |
-447.60% |
22.59% |
133.30% |
-183.44% |
EPS Growth |
|
-327.76% |
-248.35% |
112.36% |
52.33% |
21.80% |
168.63% |
-781.82% |
29.27% |
134.62% |
-334.29% |
Operating Cash Flow Growth |
|
22.91% |
-86.19% |
-129.87% |
-100.25% |
448.70% |
55.48% |
-15.14% |
-883.17% |
-103.25% |
122.62% |
Free Cash Flow Firm Growth |
|
-271.52% |
126.81% |
164.25% |
163.52% |
53.79% |
-763.95% |
-274.66% |
-244.47% |
-512.99% |
-35.38% |
Invested Capital Growth |
|
18.89% |
-4.66% |
-18.46% |
-23.24% |
6.27% |
31.60% |
39.25% |
43.09% |
41.76% |
30.09% |
Revenue Q/Q Growth |
|
1,203.58% |
-316.54% |
134.48% |
-64.26% |
57.94% |
-95.20% |
-352.37% |
155.01% |
316.48% |
29.18% |
EBITDA Q/Q Growth |
|
296.64% |
-302.39% |
123.59% |
-127.49% |
-461.89% |
169.97% |
-2,147.50% |
101.69% |
4,803.55% |
-233.97% |
EBIT Q/Q Growth |
|
138.73% |
-542.52% |
113.60% |
-201.86% |
-196.26% |
139.46% |
-772.64% |
77.77% |
325.04% |
-311.22% |
NOPAT Q/Q Growth |
|
138.73% |
-174.06% |
215.98% |
-171.35% |
-196.26% |
277.88% |
-212.30% |
77.77% |
424.71% |
-223.41% |
Net Income Q/Q Growth |
|
-28.36% |
74.99% |
178.94% |
-201.86% |
-448.98% |
167.24% |
-260.21% |
77.32% |
336.15% |
-268.50% |
EPS Q/Q Growth |
|
-28.36% |
74.99% |
121.57% |
-472.73% |
-153.66% |
133.65% |
-314.29% |
61.33% |
224.14% |
-327.78% |
Operating Cash Flow Q/Q Growth |
|
-87.08% |
62.65% |
-235.57% |
99.11% |
28,198.02% |
-53.91% |
-200.39% |
92.44% |
7.15% |
3,257.92% |
Free Cash Flow Firm Q/Q Growth |
|
65.70% |
126.92% |
405.93% |
35.98% |
-124.95% |
-286.79% |
-30.06% |
-12.48% |
-5.87% |
14.58% |
Invested Capital Q/Q Growth |
|
-19.41% |
-8.00% |
-1.15% |
4.73% |
11.58% |
13.93% |
4.59% |
7.61% |
10.55% |
4.55% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
81.99% |
0.00% |
52.43% |
-40.32% |
-143.45% |
2,089.60% |
0.00% |
3.58% |
42.18% |
-43.75% |
EBIT Margin |
|
40.70% |
0.00% |
32.80% |
-93.47% |
-175.32% |
1,440.23% |
0.00% |
-58.04% |
31.36% |
-51.28% |
Profit (Net Income) Margin |
|
-123.96% |
0.00% |
32.78% |
-93.39% |
-324.64% |
4,544.54% |
0.00% |
-59.15% |
33.54% |
-43.75% |
Tax Burden Percent |
|
99.72% |
102.84% |
99.93% |
99.92% |
99.96% |
99.85% |
99.86% |
101.92% |
100.14% |
101.21% |
Interest Burden Percent |
|
-305.43% |
16.74% |
100.00% |
100.00% |
185.24% |
316.03% |
100.00% |
100.00% |
106.81% |
84.30% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.07% |
0.00% |
0.00% |
0.15% |
0.00% |
0.00% |
5.43% |
0.00% |
Return on Invested Capital (ROIC) |
|
1.01% |
0.00% |
0.00% |
0.00% |
0.00% |
102.47% |
0.00% |
-0.10% |
0.45% |
-1.02% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-3.65% |
0.00% |
0.00% |
0.00% |
0.00% |
102.47% |
0.00% |
-0.22% |
0.49% |
-1.37% |
Return on Net Nonoperating Assets (RNNOA) |
|
-5.17% |
0.00% |
0.00% |
0.00% |
0.00% |
253.70% |
0.00% |
-0.67% |
1.85% |
-5.77% |
Return on Equity (ROE) |
|
-4.16% |
-15.14% |
-10.35% |
-7.46% |
-8.80% |
356.17% |
0.00% |
-0.77% |
2.30% |
-6.80% |
Cash Return on Invested Capital (CROIC) |
|
-18.46% |
0.54% |
17.76% |
24.67% |
-7.96% |
-27.78% |
-34.45% |
-36.93% |
-34.15% |
-27.41% |
Operating Return on Assets (OROA) |
|
1.30% |
0.00% |
0.00% |
0.00% |
0.00% |
28.90% |
0.00% |
-0.13% |
0.41% |
-1.65% |
Return on Assets (ROA) |
|
-3.96% |
0.00% |
0.00% |
0.00% |
0.00% |
91.18% |
0.00% |
-0.13% |
0.44% |
-1.41% |
Return on Common Equity (ROCE) |
|
-3.57% |
-10.69% |
-7.22% |
-5.16% |
-5.91% |
231.83% |
0.00% |
-0.49% |
1.45% |
-4.26% |
Return on Equity Simple (ROE_SIMPLE) |
|
-14.42% |
0.00% |
-12.29% |
-8.64% |
-10.05% |
0.00% |
-9.80% |
-9.80% |
2.16% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
27 |
-20 |
23 |
-16 |
-49 |
87 |
-56 |
-12 |
40 |
-50 |
NOPAT Margin |
|
28.49% |
0.00% |
32.78% |
-65.43% |
-122.73% |
4,544.54% |
0.00% |
-40.63% |
31.67% |
-30.26% |
Net Nonoperating Expense Percent (NNEP) |
|
4.67% |
0.29% |
0.00% |
0.16% |
1.96% |
0.00% |
0.53% |
0.11% |
-0.04% |
0.35% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
59.30% |
0.00% |
67.20% |
193.47% |
275.32% |
-1,340.23% |
0.00% |
158.04% |
68.64% |
151.28% |
Earnings before Interest and Taxes (EBIT) |
|
38 |
-169 |
23 |
-23 |
-69 |
27 |
-80 |
-18 |
40 |
-85 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
77 |
-156 |
37 |
-10 |
-57 |
40 |
-65 |
1.10 |
54 |
-72 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.51 |
0.60 |
0.66 |
0.70 |
0.66 |
0.65 |
0.66 |
0.59 |
0.63 |
0.64 |
Price to Tangible Book Value (P/TBV) |
|
0.51 |
0.60 |
0.66 |
0.70 |
0.66 |
0.65 |
0.66 |
0.59 |
0.63 |
0.64 |
Price to Revenue (P/Rev) |
|
3.79 |
0.00 |
0.00 |
0.00 |
0.00 |
4.97 |
57.99 |
32.37 |
5.48 |
2.05 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
299.10 |
0.00 |
Dividend Yield |
|
21.40% |
20.15% |
18.60% |
21.52% |
18.52% |
15.99% |
14.38% |
15.41% |
12.64% |
13.20% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.33% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.82 |
0.86 |
0.88 |
0.89 |
0.90 |
0.92 |
0.92 |
0.92 |
0.94 |
0.95 |
Enterprise Value to Revenue (EV/Rev) |
|
25.04 |
0.00 |
0.00 |
0.00 |
0.00 |
46.38 |
612.91 |
435.30 |
77.00 |
31.73 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
71.34 |
0.00 |
0.00 |
0.00 |
0.00 |
659.74 |
0.00 |
0.00 |
272.37 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
279.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
32.35 |
49.07 |
107.58 |
2,330.00 |
216.55 |
211.89 |
236.22 |
262.07 |
0.00 |
603.71 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
155.43 |
4.43 |
3.14 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.87 |
1.81 |
1.84 |
2.09 |
2.74 |
3.24 |
3.75 |
4.30 |
4.83 |
5.36 |
Long-Term Debt to Equity |
|
1.26 |
1.42 |
1.41 |
1.44 |
1.51 |
1.72 |
2.09 |
2.28 |
2.38 |
2.52 |
Financial Leverage |
|
1.41 |
1.50 |
1.80 |
2.19 |
2.27 |
2.48 |
2.71 |
3.10 |
3.74 |
4.22 |
Leverage Ratio |
|
2.69 |
2.77 |
3.08 |
3.47 |
3.81 |
3.91 |
4.07 |
4.51 |
5.13 |
5.47 |
Compound Leverage Factor |
|
-8.21 |
0.46 |
3.08 |
3.47 |
7.06 |
12.35 |
4.07 |
4.51 |
5.48 |
4.61 |
Debt to Total Capital |
|
65.21% |
64.43% |
64.81% |
67.68% |
73.30% |
76.39% |
78.94% |
81.13% |
82.85% |
84.27% |
Short-Term Debt to Total Capital |
|
21.33% |
14.06% |
15.21% |
21.11% |
32.95% |
35.83% |
34.82% |
38.03% |
42.08% |
44.72% |
Long-Term Debt to Total Capital |
|
43.88% |
50.37% |
49.60% |
46.57% |
40.35% |
40.57% |
44.12% |
43.10% |
40.77% |
39.56% |
Preferred Equity to Total Capital |
|
9.45% |
10.27% |
10.38% |
9.90% |
8.84% |
7.76% |
7.42% |
6.90% |
6.24% |
5.97% |
Noncontrolling Interests to Total Capital |
|
1.13% |
1.85% |
1.66% |
1.16% |
0.68% |
0.70% |
0.47% |
0.42% |
0.32% |
0.18% |
Common Equity to Total Capital |
|
24.21% |
23.45% |
23.16% |
21.27% |
17.18% |
15.14% |
13.17% |
11.55% |
10.59% |
9.58% |
Debt to EBITDA |
|
56.77 |
-19.66 |
-41.27 |
-70.26 |
-23.83 |
547.73 |
-61.63 |
-77.58 |
240.52 |
-91.74 |
Net Debt to EBITDA |
|
51.34 |
-18.24 |
-38.47 |
-65.82 |
-22.60 |
528.28 |
-59.17 |
-74.68 |
233.92 |
-89.71 |
Long-Term Debt to EBITDA |
|
38.20 |
-15.37 |
-31.58 |
-48.35 |
-13.12 |
290.86 |
-34.44 |
-41.21 |
118.37 |
-43.06 |
Debt to NOPAT |
|
-58.90 |
-14.86 |
-22.52 |
-36.01 |
-40.25 |
-177.11 |
-55.86 |
-64.28 |
246.37 |
-75.82 |
Net Debt to NOPAT |
|
-53.26 |
-13.78 |
-20.99 |
-33.73 |
-38.18 |
-170.83 |
-53.63 |
-61.88 |
239.61 |
-74.15 |
Long-Term Debt to NOPAT |
|
-39.63 |
-11.61 |
-17.24 |
-24.78 |
-22.15 |
-94.05 |
-31.22 |
-34.15 |
121.25 |
-35.59 |
Noncontrolling Interest Sharing Ratio |
|
13.98% |
29.43% |
30.23% |
30.87% |
32.78% |
34.91% |
0.00% |
36.30% |
36.91% |
37.37% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-878 |
236 |
1,196 |
1,627 |
-406 |
-1,570 |
-2,089 |
-2,350 |
-2,488 |
-2,125 |
Operating Cash Flow to CapEx |
|
22.41% |
65.97% |
-62.87% |
-0.68% |
239.75% |
233.22% |
-219.27% |
-13.12% |
-12.07% |
843.21% |
Free Cash Flow to Firm to Interest Expense |
|
-22.78 |
0.00 |
30.41 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-28.23 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.13 |
0.00 |
-0.29 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-0.01 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-0.46 |
0.00 |
-0.75 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-0.10 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.00 |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
0.00 |
0.01 |
0.03 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
5,697 |
5,241 |
5,181 |
5,425 |
6,054 |
6,897 |
7,214 |
7,763 |
8,582 |
8,973 |
Invested Capital Turnover |
|
0.04 |
0.00 |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
0.00 |
0.01 |
0.03 |
Increase / (Decrease) in Invested Capital |
|
905 |
-256 |
-1,173 |
-1,643 |
357 |
1,656 |
2,033 |
2,338 |
2,528 |
2,075 |
Enterprise Value (EV) |
|
4,668 |
4,504 |
4,539 |
4,844 |
5,476 |
6,347 |
6,668 |
7,164 |
8,052 |
8,495 |
Market Capitalization |
|
706 |
737 |
786 |
805 |
690 |
681 |
631 |
533 |
573 |
549 |
Book Value per Share |
|
$3.65 |
$3.31 |
$3.28 |
$12.65 |
$11.39 |
$11.51 |
$10.42 |
$9.83 |
$10.03 |
$9.49 |
Tangible Book Value per Share |
|
$3.65 |
$3.31 |
$3.28 |
$12.65 |
$11.39 |
$11.51 |
$10.42 |
$9.83 |
$10.03 |
$9.49 |
Total Capital |
|
5,697 |
5,241 |
5,181 |
5,425 |
6,054 |
6,897 |
7,214 |
7,763 |
8,582 |
8,973 |
Total Debt |
|
3,715 |
3,377 |
3,357 |
3,672 |
4,437 |
5,269 |
5,694 |
6,298 |
7,110 |
7,561 |
Total Long-Term Debt |
|
2,500 |
2,640 |
2,569 |
2,527 |
2,443 |
2,798 |
3,182 |
3,346 |
3,499 |
3,549 |
Net Debt |
|
3,360 |
3,132 |
3,130 |
3,439 |
4,209 |
5,082 |
5,467 |
6,063 |
6,915 |
7,394 |
Capital Expenditures (CapEx) |
|
23 |
13 |
18 |
15 |
12 |
5.61 |
5.99 |
7.57 |
7.64 |
3.45 |
Net Nonoperating Expense (NNE) |
|
143 |
9.31 |
0.00 |
7.02 |
80 |
0.00 |
24 |
5.68 |
-2.38 |
22 |
Net Nonoperating Obligations (NNO) |
|
3,715 |
3,377 |
3,357 |
3,672 |
4,437 |
5,269 |
5,694 |
6,298 |
7,110 |
7,561 |
Total Depreciation and Amortization (D&A) |
|
39 |
13 |
14 |
13 |
13 |
12 |
15 |
19 |
14 |
12 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($1.32) |
($2.04) |
$0.12 |
($0.41) |
($1.04) |
$0.35 |
($0.75) |
($0.29) |
$0.36 |
($0.82) |
Adjusted Weighted Average Basic Shares Outstanding |
|
94.27M |
23.58M |
91.31M |
91.19M |
90.98M |
91.04M |
91.12M |
90.99M |
90.58M |
90.82M |
Adjusted Diluted Earnings per Share |
|
($1.32) |
($2.04) |
$0.11 |
($0.41) |
($1.04) |
$0.35 |
($0.75) |
($0.29) |
$0.36 |
($0.82) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
94.27M |
23.58M |
91.67M |
91.19M |
90.98M |
91.04M |
91.12M |
90.99M |
90.59M |
90.82M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
($2.04) |
$0.00 |
$0.00 |
$0.00 |
$0.35 |
$0.00 |
$0.00 |
$0.00 |
($0.82) |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
92.77M |
91.41M |
91.18M |
91.25M |
90.68M |
91.23M |
91.23M |
90.58M |
90.58M |
90.57M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
27 |
-20 |
23 |
-16 |
-49 |
87 |
-56 |
-12 |
48 |
-50 |
Normalized NOPAT Margin |
|
28.49% |
0.00% |
32.78% |
-65.43% |
-122.73% |
4,544.54% |
0.00% |
-40.63% |
37.47% |
-30.26% |
Pre Tax Income Margin |
|
-124.31% |
0.00% |
32.80% |
-93.47% |
-324.78% |
4,551.52% |
0.00% |
-58.04% |
33.49% |
-43.23% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.99 |
0.00 |
0.59 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.45 |
0.00 |
NOPAT to Interest Expense |
|
0.69 |
0.00 |
0.59 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.46 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.39 |
0.00 |
0.12 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.37 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.10 |
0.00 |
0.12 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.37 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
-70.58% |
-59.39% |
-90.51% |
-131.16% |
-114.38% |
-400.93% |
-105.39% |
-96.29% |
402.58% |
-91.54% |
Augmented Payout Ratio |
|
-78.48% |
-73.04% |
-112.99% |
-158.85% |
-134.07% |
-421.16% |
-108.83% |
-102.35% |
413.76% |
-94.28% |
Key Financial Trends
Over the last four years, New York Mortgage Trust (NASDAQ: NYMTL) has experienced significant volatility in financial performance, with notable swings in net income and other key metrics. Below is a concise analysis of the most important financial trends from Q3 2022 through Q4 2024:
- The company's net interest income has shown positive figures in many quarters, with Q4 2024 reporting a strong $361.9 million despite quarterly fluctuations, indicating robustness in its core lending and investment income.
- In Q3 2024, NYMT posted a net income of $42.8 million, with earnings per share (EPS) of $0.36, reflecting a profitable period after some prior losses.
- Consistent payment of dividends to common shareholders has been maintained, with quarterly cash dividends ranging mostly from $0.2 to $0.41 per share, supporting shareholder returns.
- Operating cash flow has generally been positive or improving, with $29.1 million net cash from operating activities in Q4 2024 and $13.1 million in Q4 2023, suggesting adequate liquidity generation from core operations.
- Total assets have steadily increased from about $6.2 billion at Q1 2023 to about $8.9 billion by Q3 2024, showing growth in the company’s balance sheet but also an increase in complexity.
- The company’s total liabilities have also risen, reaching approximately $7.4 billion by Q3 2024, largely driven by short-term and long-term debt increases, which is typical for a mortgage REIT but warrants monitoring.
- NYMTL has faced net losses in several quarters, most notably in Q4 2024 with a net loss attributable to common shareholders of approximately $74.2 million or a $0.82 loss per share, signaling near-term challenges.
- The significant negative swings in net realized and unrealized capital gains on investments, including a $128.8 million loss in Q4 2024, have severely impacted profitability, reflecting potential volatility in investment valuations.
- Operating expenses trend higher in challenging quarters, with Q4 2024 showing non-interest expenses of about $249.7 million, which exceeds total revenue and erodes earnings.
- The company's cash flow from investing activities has been heavily negative in recent quarters (e.g., -$574.8 million in Q4 2024), largely due to large purchases of investment securities, suggesting heavy capital deployment that could increase risk if not managed prudently.
In summary, New York Mortgage Trust shows a pattern of sporadic profitability intermixed with significant losses driven mainly by investment valuation changes and rising expenses. The company maintains a growing asset base and continues shareholder dividends, but investors should be aware of the high volatility in earnings and the scale of investment activities that impact cash flow. Monitoring upcoming quarters for stabilization in investment returns and expense control will be critical.
08/23/25 03:44 PMAI Generated. May Contain Errors.