Try our mobile app

Switch to company model in classical logic    *

General information

Country: UNITED STATES

Sector: REIT — Mortgage

Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring, investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and single-family properties. Its segment is focused on non-performing mortgages and re-performing mortgages. It also invests in loans secured by multi-family residential and commercial mixed use retail/residential properties, as well as in the properties directly. It also holds real estate-owned properties (REO) acquired upon the foreclosure or other settlement of its owned non-performing loans, as well as through outright purchases. It is managed by Thetis Asset Management LLC, an affiliated entity. Its mortgage loans and other real estate assets are serviced by Gregory Funding LLC, an affiliated entity. The Company conducts its business through its operating partnership, Great Ajax Operating Partnership L.P.
Website: greatajax.com



Growth: Good revenue growth rate 37.5%, there is acceleration compared to average historical growth rates 18.5%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is negative, -3.7%. On average the margin is decreasing unsteadily. Gross margin is high, +100.0%. In the last quarter the company did not beat the estimated EPS. The company was ahead of estimated EPS in 0% of quarters (showing a gain of -$0.49 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 17.6%. Free cash flow yield 619.5% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 2.7% higher than minimum and 76.4% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 2.5x by EV / Sales multiple , the company can be 37.3% overvalued

Key Financials (Download financials)

Ticker: AJX
Share price, USD:  (+0.6%)3.46
year average price 5.43  


year start price 6.58 2023-04-28

max close price 7.12 2023-07-19

min close price 3.37 2024-03-18

current price 3.46 2024-04-26
Common stocks: 22 812 448

Dividend Yield:  17.6%
Last revenue growth (y/y):  37.5%
Last growth of EBITDA (y/y):  ---
Historical revenue growth:  18.5%
Historical growth of EBITDA:  -36.2%
EV / Sales: 4.1x
Margin (EBITDA LTM / Revenue): -3.7%
Fundamental value created in LTM:
Market Cap ($m): 79
Net Debt ($m): 140
EV (Enterprise Value): 219
Price to Book: 0.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2023-11-05Seeking Alpha

Great Ajax Corp. (AJX) Q3 2023 Earnings Call Transcript

2023-08-05Seeking Alpha

Great Ajax Corp. (AJX) Q2 2023 Earnings Call Transcript

2023-08-03Zacks Investment Research

Great Ajax (AJX) Reports Q2 Loss, Misses Revenue Estimates

2023-07-07The Motley Fool

Why Great Ajax Stock Was Surging This Week

2023-07-03Market Watch

Great Ajax stock rallies after Ellington Financial agrees to buy it at a premium in REIT merger

2023-06-16Seeking Alpha

Great Ajax: An Otherwise Unimpressive High-Yielding mREIT Poised For Recovery
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AJX AJX AJX AJX AJX AJX
reportedCurrency USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-02-28 2023-11-03 2023-08-04 2023-05-05 2023-03-03 2022-11-04
acceptedDate 2024-02-27 18:43:54 2023-11-02 18:11:34 2023-08-03 18:16:41 2023-05-04 18:07:30 2023-03-02 17:50:27 2022-11-03 18:13:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 10M 4M -2M 540 000 39M -8M
costOfRevenue 4M 2M 2M -5M 36M 0
grossProfit 6M 1M -4M 5M 4M -8M
grossProfitRatio 0.617 0.370 1.905 9.872 0.097 1.000
researchAndDevelopmentExpenses 0 0 0 0 0 0
generalAndAdministrativeExpenses 781 000 611 000 923 000 934 000 886 000 777 000
sellingAndMarketingExpenses 0 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 781 000 611 000 923 000 934 000 886 000 777 000
otherExpenses -3M -3M -4M 0 0 0
operatingExpenses 3M 611 000 989 000 934 000 621 000 777 000
costAndExpenses 18M 3M 989 000 934 000 621 000 777 000
interestIncome 18M 18M 18M 18M 18M 20M
interestExpense 14M -15M 15M 15M 14M 11M
depreciationAndAmortization 131 000 160 000 137 000 -577 000 101 000 118 000
ebitda 1M 722 000 -3M -23M 5M 4M
ebitdaratio 0.148 0.201 1.261 -42.172 0.128 -0.577
operatingIncome 4M 722 000 -3M -22M 5M 4M
operatingIncomeRatio 0.361 0.201 1.261 -41.104 0.125 -0.562
totalOtherIncomeExpensesNet -26M -6M -9M 15M -11M -11M
incomeBeforeTax -23M -6M -11M -7M -6M -7M
incomeBeforeTaxRatio -2.291 -1.561 5.590 -13.465 -0.153 0.937
incomeTaxExpense 69 000 -100 000 181 000 93 000 232 000 2M
netIncome -23M -6M -11M -7M -6M -10M
netIncomeRatio -2.301 -1.692 5.692 -13.637 -0.159 1.248
eps -0.840 -0.250 -0.490 -0.320 -0.280 -0.420
epsdiluted -0.840 -0.250 -0.490 -0.320 -0.280 -0.420
weightedAverageShsOut 27M 24M 24M 23M 23M 23M
weightedAverageShsOutDil 27M 24M 24M 23M 23M 23M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AJX AJX AJX AJX AJX AJX
reportedCurrency USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-02-28 2023-11-03 2023-08-04 2023-05-05 2023-03-03 2022-11-04
acceptedDate 2024-02-27 18:43:54 2023-11-02 18:11:34 2023-08-03 18:16:41 2023-05-04 18:07:30 2023-03-02 17:50:27 2022-11-03 18:13:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 53M 64M 40M 49M 48M 73M
shortTermInvestments 132M 131M 142M 146M 989M 1 006M
cashAndShortTermInvestments 53M 195M 182M 196M 1 037M 73M
netReceivables 7M 10M 8M 10M 7M 9M
inventory 0 1.000 50M 0 0 0
otherCurrentAssets -60M -80M -58M 0 0 0
totalCurrentAssets 184M 195M 182M 196M 1 037M 9M
propertyPlantEquipmentNet 0 0 0 0 0 0
goodwill 0 0 0 0 0 0
intangibleAssets 0 0 0 0 0 0
goodwillAndIntangibleAssets 0 0 0 0 0 0
longTermInvestments 323M 338M 371M 387M 422M 416M
taxAssets 0 0 0 0 0 0
otherNonCurrentAssets -323M -338M -371M -387M -422M 1 111M
totalNonCurrentAssets 408M 338M 371M 387M 422M 1 527M
otherAssets 744M 841M 852M 857M 26M -9M
totalAssets 1 336M 1 375M 1 406M 1 440M 1 484M 1 527M
accountPayables 0 0 0 0 0 0
shortTermDebt 376M 392M 413M 0 106M 106M
taxPayables 0 0 0 0 0 0
deferredRevenue 0 0 0 0 0 0
otherCurrentLiabilities -376M 132M 134M 0 0 0
totalCurrentLiabilities 376M 524M 547M 0 106M 106M
longTermDebt 622M 635M 648M 664M 678M 692M
deferredRevenueNonCurrent 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0
otherNonCurrentLiabilities -518M -531M -545M -561M 363M 1 069M
totalNonCurrentLiabilities 104M 104M 104M 103M 1 041M 1 175M
otherLiabilities 546M -524M -547M 0 0 -106M
capitalLeaseObligations 0 0 0 0 0 0
totalLiabilities 1 025M 104M 104M 103M 1 147M 1 175M
preferredStock 35M 35M 35M 35M 35M 35M
commonStock 285 000 268 000 247 000 245 000 241 000 235 000
retainedEarnings -54M -28M -17M -544 000 13M 26M
accumulatedOtherComprehensiveIncomeLoss -14M -18M -20M -20M -26M -22M
othertotalStockholdersEquity 343M 331M 317M 316M 313M 311M
totalStockholdersEquity 309M 320M 315M 330M 335M 349M
totalEquity 311M 322M 317M 330M 335M 349M
totalLiabilitiesAndStockholdersEquity 1 336M 1 375M 1 406M 1 440M 1 484M 1 527M
minorityInterest 2M 2M 2M 2M 2M 0
totalLiabilitiesAndTotalEquity 1 336M 1 375M 1 406M 1 440M 1 484M 1 527M
totalInvestments 323M 131M 142M 146M 1 411M 1 423M
totalDebt 997M 635M 648M 664M 678M 692M
netDebt 944M 571M 608M 615M 630M 619M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AJX AJX AJX AJX AJX AJX
reportedCurrency USD USD USD USD USD USD
cik 2M 2M 2M 2M 2M 2M
fillingDate 2024-02-28 2023-11-03 2023-08-04 2023-05-05 2023-03-03 2022-11-04
acceptedDate 2024-02-27 18:43:54 2023-11-02 18:11:34 2023-08-03 18:16:41 2023-05-04 18:07:30 2023-03-02 17:50:27 2022-11-03 18:13:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome -23M -6M -11M -7M -6M -10M
depreciationAndAmortization 0 328 000 0 845 000 -3M 861 000
deferredIncomeTax 0 -100 000 0 0 0 0
stockBasedCompensation 216 000 376 000 292 000 600 000 394 000 428 000
changeInWorkingCapital -5M -3M 863 000 -10M 5M 6M
accountsReceivables 0 -2M 2M 0 0 0
inventory 0 0 0 0 0 0
accountsPayables 0 -3M 2M 0 0 0
otherWorkingCapital -5M 2M -3M 0 0 0
otherNonCashItems 14M -2M 3M -1M 1M 3M
netCashProvidedByOperatingActivities -13M -10M -7M -17M -3M -64 000
investmentsInPropertyPlantAndEquipment 0 0 0 0 0 0
acquisitionsNet 0 0 0 0 0 0
purchasesOfInvestments -254 000 -58M 0 -17M -44M 0
salesMaturitiesOfInvestments 8M 94M 10M 58M 36M 56M
otherInvestingActivites 17M 23M 15M 22M 21M 25M
netCashUsedForInvestingActivites 25M 60M 25M 64M 12M 81M
debtRepayment -14M -14M -17M -14M -15M -23M
commonStockIssued 11M 14M 527 000 2M 5M 88 000
commonStockRepurchased -16M -21M -6M 0 5M -91M
dividendsPaid -4M -5M -5M -6M -7M -7M
otherFinancingActivites -189 000 -38 000 -83 000 -27M -22M 60M
netCashUsedProvidedByFinancingActivities -23M -26M -27M -45M -35M -61M
effectOfForexChangesOnCash 0 -21M 23 259M 0 0 0
netChangeInCash -11M 24M -9M 2M -25M 17M
cashAtEndOfPeriod 53M 64M 40M 49M 48M 73M
cashAtBeginningOfPeriod 64M 40M 49M 48M 73M 56M
operatingCashFlow -13M -10M -7M -17M -3M -64 000
capitalExpenditure 0 0 0 0 0 0
freeCashFlow -13M -10M -7M -17M -3M -64 000
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

2023 q3
2023-11-05 ET (fiscal 2023 q3)
2023 q2
2023-08-05 ET (fiscal 2023 q2)
2023 q1
2023-05-06 ET (fiscal 2023 q1)
2022 q4
2023-03-02 ET (fiscal 2022 q4)
2022 q3
2022-11-06 ET (fiscal 2022 q3)
2022 q2
2022-08-08 ET (fiscal 2022 q2)
2022 q1
2022-05-08 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-02-27 00:04 ET
Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2023
2024-02-26 22:56 ET
Rithm Capital Corp. and Great Ajax Corp. Announce a Strategic Transaction
2023-11-02 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2023; Provides Strategic Update
2023-10-26 20:05 ET
Great Ajax Corp. Schedules Its Third Quarter 2023 Financial Results Release For Thursday, November 2, 2023
2023-10-20 20:13 ET
Ellington Financial and Great Ajax Corp. Announce Mutual Termination of Merger Agreement
2023-08-03 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended June 30, 2023
2023-07-27 20:05 ET
Great Ajax Corp. Schedules Its Second Quarter 2023 Financial Results Release For Thursday, August 3, 2023
2023-07-03 10:45 ET
Ellington Financial and Great Ajax Corp. Announce Definitive Merger Agreement
2023-05-04 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2023
2023-04-27 20:05 ET
Great Ajax Corp. Schedules Its First Quarter 2023 Financial Results Release For Thursday, May 4, 2023
2023-03-02 21:05 ET
Great Ajax Corp. Announces Results for the Quarter and Year Ended December 31, 2022
2023-02-23 21:05 ET
Great Ajax Corp. Schedules Its Fourth Quarter and Year End 2022 Financial Results Release for Thursday, March 2, 2023
2022-11-03 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2022
2022-10-27 20:05 ET
Great Ajax Corp. Schedules Its Third Quarter 2022 Financial Results Release For Thursday, November 3, 2022
2022-08-26 20:05 ET
Great Ajax Corp. Closes Offering of $110,000,000 of Senior Unsecured Notes
2022-08-04 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended June 30, 2022
2022-07-28 20:05 ET
Great Ajax Corp. Schedules Its Second Quarter 2022 Financial Results Release For Thursday, August 4, 2022
2022-05-05 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2022
2022-04-28 20:05 ET
Great Ajax Corp. Schedules Its First Quarter 2022 Financial Results Release For Thursday, May 5, 2022
2022-03-03 21:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2021
2022-02-24 21:05 ET
Great Ajax Corp. Schedules Its Fourth Quarter and Year End 2021 Financial Results Release for Thursday, March 3, 2022
2021-12-30 21:05 ET
Great Ajax Corp. Announces Special Dividend
2021-11-04 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2021
2021-10-28 20:05 ET
Great Ajax Corp. Schedules Its Third Quarter 2021 Financial Results Release For Thursday, November 4, 2021
2021-08-05 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended June 30, 2021
2021-07-29 20:05 ET
Great Ajax Corp. Schedules Its Second Quarter 2021 Financial Results Release For Thursday, August 5, 2021
2021-05-06 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2021
2021-04-29 20:05 ET
Great Ajax Corp. Schedules Its First Quarter 2021 Financial Results Release For Thursday, May 6, 2021
2021-03-04 21:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2020
2021-02-25 21:05 ET
Great Ajax Corp. Schedules Its Fourth Quarter and Year End 2020 Financial Results Release for Thursday, March 4, 2021
2020-11-05 21:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2020
2020-10-29 20:05 ET
Great Ajax Corp. Schedules Its Third Quarter 2020 Financial Results Release For Thursday, November 5, 2020
2020-08-04 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended June 30, 2020
2020-07-28 20:05 ET
Great Ajax Corp. Schedules Its Second Quarter 2020 Financial Results Release For Tuesday, August 4, 2020
2020-05-07 21:48 ET
Great Ajax Corp. Closes $30 Million Private Placement
2020-05-05 20:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2020
2020-04-28 20:05 ET
Great Ajax Corp. Schedules Its First Quarter 2020 Financial Results Release for Tuesday, May 5, 2020
2020-04-06 22:00 ET
Great Ajax Corp. Closes $80 Million Private Placement
2020-04-04 00:34 ET
Great Ajax Corp. Announces $80 Million Private Placement
2020-03-24 20:05 ET
Great Ajax Corp. to Pay Previously Announced Dividend in Stock
2020-03-03 21:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2019
2020-02-27 19:30 ET
Great Ajax Corp. Announces Dividend
2020-02-25 21:05 ET
Great Ajax Corp. Schedules Its Fourth Quarter and Year End 2019 Financial Results Release for Tuesday, March 3, 2020
2019-11-22 22:11 ET
Great Ajax Corp. Announces Sale of Common Stock in Gaea Real Estate Corp.
2019-11-05 21:05 ET
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2019

SEC forms

Show financial reports only

SEC form 8
2024-04-22 00:00 ET
Great Ajax published news for 2024 q1
SEC form 8
2024-04-22 00:00 ET
Great Ajax published news for 2024 q1
SEC form 10
2024-02-28 00:00 ET
Great Ajax reported for 2023 q4
SEC form 10
2024-02-27 18:43 ET
Great Ajax reported for 2023 q4
SEC form 8
2024-02-26 19:09 ET
Great Ajax published news for 2023 q4
SEC form 8
2024-02-26 19:09 ET
Great Ajax reported for 2023 q4
SEC form 10
2023-11-03 00:00 ET
Great Ajax reported for 2023 q3
SEC form 10
2023-11-02 18:11 ET
Great Ajax reported for 2023 q3
SEC form 8
2023-11-02 16:23 ET
Great Ajax reported for 2023 q3
SEC form 10
2023-08-04 00:00 ET
Great Ajax reported for 2023 q2
SEC form 10
2023-08-03 18:16 ET
Great Ajax reported for 2023 q2
SEC form 6
2023-08-03 16:25 ET
Great Ajax reported for 2023 q2
SEC form 8
2023-08-03 00:00 ET
Great Ajax reported for 2023 q2
SEC form 6
2023-07-03 06:56 ET
Great Ajax published news for 2023 q2
SEC form 10
2023-05-05 00:00 ET
Great Ajax reported for 2023 q1
SEC form 8
2023-05-04 00:00 ET
Great Ajax reported for 2023 q1
SEC form 10
2023-03-03 00:00 ET
Great Ajax reported for 2022 q4
SEC form 8
2023-03-02 00:00 ET
Great Ajax reported for 2022 q4
SEC form 10
2022-11-04 00:00 ET
Great Ajax reported for 2022 q3
SEC form 8
2022-11-03 00:00 ET
Great Ajax reported for 2022 q3
SEC form 10
2022-08-05 00:00 ET
Great Ajax reported for 2022 q2
SEC form 8
2022-08-04 00:00 ET
Great Ajax reported for 2022 q2
SEC form 10
2022-05-06 00:00 ET
Great Ajax reported for 2022 q1
SEC form 8
2022-05-05 00:00 ET
Great Ajax reported for 2022 q1
SEC form 10
2022-03-04 00:00 ET
Great Ajax published news for 2021 q4
SEC form 8
2022-03-03 00:00 ET
Great Ajax published news for 2021 q4
SEC form 10
2021-11-05 00:00 ET
Great Ajax published news for 2021 q3
SEC form 8
2021-11-04 00:00 ET
Great Ajax published news for 2021 q3
SEC form 10
2021-08-06 00:00 ET
Great Ajax published news for 2021 q2
SEC form 8
2021-08-05 00:00 ET
Great Ajax published news for 2021 q2
SEC form 10
2021-05-07 00:00 ET
Great Ajax published news for 2021 q1
SEC form 8
2021-05-06 00:00 ET
Great Ajax published news for 2021 q1