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CIM is a vertically-integrated community-focused real estate and infrastructure owner, operator, lender and developer. CIM Group is headquartered in Los Angeles, California and has offices in Atlanta, Georgia, Chicago, Illinois, Dallas, Texas, New York, New York, Orlando, Florida, Phoenix, Arizona, London, U.K. and Tokyo, Japan.
The business is unprofitable at the operating level (-31.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 6.5% YoY. Margins deteriorated 11.7pp alongside, both lines moving the wrong way.
Free cash flow declined 66% versus the prior year, cash generation momentum has weakened. Net debt of $494M represents 85.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$113M
▼ -6.5% YoY
Net Income (TTM)
-$41M
▼ -54.9% YoY
Op. Margin
-35.53%
▼ -11.7pp YoY
ROIC
-4.02%
▼ -1.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$21M
▼ -66.0% YoY
Op. Cash Flow (TTM)
-$21M
▼ -66.0% YoY
Net Debt
$484M
Cash & Equiv.
$16M
5Y CAGR: +8.5%
5Y CAGR: -14.7%
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