Great Ajax Corp
Great Ajax Corp. operates as a mortgage real estate investment trust. It acquires re-performing and non-performing loans; acquires or originates small balance commercial mortgage loans that are secured by multi-family residential and commercial mixed use retail/residential properties; and invests in single-family and smaller commercial properties. The company elected to be taxed as a real estate … Read more
Great Ajax Corp (AJX) - Net Assets
Latest net assets as of September 2024: $247.09 Million USD
Based on the latest financial reports, Great Ajax Corp (AJX) has net assets worth $247.09 Million USD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($858.15 Million) and total liabilities ($611.06 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $247.09 Million |
| % of Total Assets | 28.79% |
| Annual Growth Rate | 6.85% |
| 5-Year Change | -61.39% |
| 10-Year Change | N/A |
| Growth Volatility | 51.59 |
Great Ajax Corp - Net Assets Trend (2014–2023)
This chart illustrates how Great Ajax Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Great Ajax Corp (2014–2023)
The table below shows the annual net assets of Great Ajax Corp from 2014 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | $310.89 Million | -7.87% |
| 2022-12-31 | $337.46 Million | -68.79% |
| 2021-12-31 | $1.08 Billion | +12.84% |
| 2020-12-31 | $958.27 Million | +18.99% |
| 2019-12-31 | $805.31 Million | +140.91% |
| 2018-12-31 | $334.28 Million | +5.31% |
| 2017-12-31 | $317.44 Million | +12.28% |
| 2016-12-31 | $282.72 Million | +18.88% |
| 2015-12-31 | $237.81 Million | +38.84% |
| 2014-12-31 | $171.28 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Great Ajax Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 2081.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $285.00K | 0.09% |
| Other Comprehensive Income | $-14.03 Million | -4.54% |
| Other Components | $377.06 Million | 122.05% |
| Total Equity | $308.93 Million | 100.00% |
Great Ajax Corp Competitors by Market Cap
The table below lists competitors of Great Ajax Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
RMB Holdings Ltd
JSE:RMH
|
$347.93K |
|
GSLR
PINK:GSLR
|
$348.05K |
|
Reco International Group Inc
V:RGI
|
$348.29K |
|
EGF Theramed Health Corp
PINK:EVAHF
|
$348.50K |
|
APERAM REG. - Dusseldorf Stock Exchang
DU:7AA
|
$347.55K |
|
STEVEN MADDEN
BE:SJM
|
$347.54K |
|
S-Oil Corp. Pfd. Series 1
KQ:010955
|
$347.48K |
|
EDESAL Holding SA
BA:EDLH
|
$347.47K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Great Ajax Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 335,328,000 to 308,933,000, a change of -26,395,000 (-7.9%).
- Net loss of 47,071,000 reduced equity.
- Dividend payments of 20,586,000 reduced retained earnings.
- Share repurchases of 70,126,000 reduced equity.
- New share issuances of 21,959,000 increased equity.
- Other comprehensive income increased equity by 11,622,000.
- Other factors increased equity by 77,807,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-47.07 Million | -15.24% |
| Dividends Paid | $20.59 Million | -6.66% |
| Share Repurchases | $70.13 Million | -22.7% |
| Share Issuances | $21.96 Million | +7.11% |
| Other Comprehensive Income | $11.62 Million | +3.76% |
| Other Changes | $77.81 Million | +25.19% |
| Total Change | $- | -7.87% |
Book Value vs Market Value Analysis
This analysis compares Great Ajax Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.00x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | $10.37 | $0.01 | x |
| 2015-12-31 | $14.82 | $0.01 | x |
| 2016-12-31 | $15.60 | $0.01 | x |
| 2017-12-31 | $12.45 | $0.01 | x |
| 2018-12-31 | $11.65 | $0.01 | x |
| 2019-12-31 | $12.77 | $0.01 | x |
| 2020-12-31 | $21.44 | $0.01 | x |
| 2021-12-31 | $16.43 | $0.01 | x |
| 2022-12-31 | $14.56 | $0.01 | x |
| 2023-12-31 | $12.72 | $0.01 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Great Ajax Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -15.24%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -66.17%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 4.33x
- Recent ROE (-15.24%) is below the historical average (4.58%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 2.30% | 54.69% | 0.02x | 1.69x | $-12.46 Million |
| 2015 | 10.87% | 86.88% | 0.05x | 2.70x | $1.97 Million |
| 2016 | 10.22% | 83.49% | 0.03x | 3.52x | $606.80K |
| 2017 | 9.96% | 75.23% | 0.03x | 4.81x | $-108.60K |
| 2018 | 9.42% | 69.12% | 0.03x | 5.33x | $-1.74 Million |
| 2019 | 9.64% | 74.78% | 0.03x | 4.38x | $-1.28 Million |
| 2020 | 4.66% | 62.71% | 0.02x | 3.41x | $-25.92 Million |
| 2021 | 8.42% | 131.35% | 0.02x | 3.54x | $-7.87 Million |
| 2022 | -4.45% | -41.91% | 0.02x | 4.43x | $-48.47 Million |
| 2023 | -15.24% | -66.17% | 0.05x | 4.33x | $-77.96 Million |
Industry Comparison
This section compares Great Ajax Corp's net assets metrics with peer companies in the REIT - Mortgage industry.
Industry Context
- Industry: REIT - Mortgage
- Average net assets among peers: $1,186,655,624
- Average return on equity (ROE) among peers: 7.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Great Ajax Corp (AJX) | $247.09 Million | 2.30% | 2.47x | $347.80K |
| Arbor Realty Trust (ABR) | $361.58 Million | 13.94% | 5.10x | $1.46 Billion |
| Acres Commercial Realty Corp (ACR) | $228.83 Million | 2.77% | 6.85x | $126.82 Million |
| Ares Commercial Real Estate (ACRE) | $456.49 Million | 7.51% | 2.02x | $265.18 Million |
| AFC Gamma Inc (AFCG) | $91.65 Million | 11.30% | 0.03x | $40.49 Million |
| AGNC Investment Corp (AGNCL) | $546.82 Million | 21.69% | 7.46x | $27.70 Billion |
| AGNC Investment Corp. 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock (AGNCZ) | $6.21 Billion | 12.40% | 8.33x | $245.43K |
| Angel Oak Mortgage Inc (AOMR) | $44.05 Million | -14.07% | 8.78x | $127.29 Million |
| Apollo Commercial Real Estate Finance Inc (ARI) | $2.63 Billion | 8.75% | 1.62x | $1.36 Billion |
| ARMOUR Residential REIT Inc (ARR) | $108.71 Million | 6.01% | 10.12x | $2.04 Billion |