Apollo Commercial Real Estate Finance Inc

주가

9.66 USD

적정가치

9.20 USD


Benchmarks	-	Full Ticker
Ladder Capital Corp	-	NYSE:LADR
Dynex Capital, Inc.	-	NYSE:DX
Rithm Capital Corp.	-	NYSE:RITM
KKR Real Estate Finance Trust Inc.	-	NYSE:KREF
Rithm Property Trust Inc.	-	NYSE:RPT
Apollo Commercial Real Estate Finance, Inc.	-	NYSE:ARI

Multiples Valuation: Price / Book

주가

9.66 USD

적정가치

9.20 USD

상승 여력 있음

-4.7%

Price / Book Multiple

Fair Value

Benchmark Editor


Select Price / Book Ratio

	Benchmark Companies
	LADR	DX	RITM	KREF	RPT	ARI
	NYSE:LADR	NYSE:DX	NYSE:RITM	NYSE:KREF	NYSE:RPT	NYSE:ARI
Historical Net Income Growth
5Y CAGR	-2.5%	NM-	8.7%	-32.1%	NM-	NM-
3Y CAGR	24.2%	5.3%	5.8%	-53.0%	NM-	NM-
Latest Twelve Months	7.1%	868.3%	56.8%	124.2%	-89.2%	-425.7%

Historical Net Income Profit Margin
5 Year Average Margin	32.7%	58.8%	-248.3%	33.9%	-58.6%	33.3%
Prior Fiscal Year	39.9%	-51.7%	18.9%	-194.7%	252.1%	14.6%
Latest Fiscal Year	39.9%	70.6%	22.1%	13.0%	162.0%	-91.4%
Latest Twelve Months	39.9%	70.6%	22.1%	13.0%	162.0%	-91.4%

Return on Equity
5 Year Average Margin	5.3%	14.4%	5.4%	3.3%	-7.8%	3.8%
Prior Fiscal Year	6.6%	-1.8%	9.3%	-4.6%	-16.9%	1.8%
Latest Twelve Months	7.1%	11.5%	13.6%	1.2%	-35.4%	-6.6%
Next Fiscal Year	9.0%	15.8%	15.2%	5.7%	3.6%	6.6%
Two Fiscal Years Forward	10.4%	15.4%	14.8%	8.4%	5.0%	8.9%

Current Trading Multiples
Price / LTM Sales	5.4x	7.9x	1.6x	7.5x	-2.4x	9.1x
Price / LTM EPS	13.5x	11.1x	7.1x	57.5x	-1.5x	-9.9x
Price / Book	1.0x	1.1x	0.9x	0.7x	0.5x	0.7x
Price / Fwd Book	0.9x	1.0x	0.8x	0.8x	0.6x	0.8x


	Low	Mid	High

Benchmark P/B Ratio	0.5x	0.9x	1.1x
Historical P/B Ratio	0.6x	0.7x	0.8x

Selected P/B Multiple	0.6x	0.7x	0.7x
(x) Book Value	1,874	1,874	1,874

지원하는 계산법

Equity Waterfall

Financials

Historical Multiples


Equity Value

	Benchmark Companies
(in millions)	LADR	DX	RITM	KREF	RPT	ARI

Value of Common Equity	1,459	1,181	5,930	752	135	1,341
(/) Shares Outstanding	127.1	90.5	520.7	68.7	47.5	138.9
Implied Stock Price	11.48	13.05	11.39	10.94	2.85	9.66
FX Conversion Rate to Trading Currency	1.00	1.00	1.00	1.00	1.00	1.00
Implied Stock Price (Trading Cur)	11.48	13.05	11.39	10.94	2.85	9.66

Trading Currency	USD	USD	USD	USD	USD	USD
FX Rate to Reporting Currency	1.00	1.00	1.00	1.00	1.00	1.00

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