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Our Company CIM Real Estate Finance Trust, Inc. (together with our subsidiaries unless the context requires otherwise, the Company, we, our or us ) is a non-exchange traded REIT formed as a Maryland corporation on July 27, 2010. We are primarily focused on originating, acquiring, financing and managing shorter duration senior secured loans, other related credit investments and core commercial r…
The business is unprofitable at the operating level (-14.41% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 144.7% YoY with margins expanding 437.3pp. However, free cash flow softened 33%, worth monitoring whether this is timing or structural.
Free cash flow declined 33% versus the prior year, cash generation momentum has weakened. Net debt of $4.61B represents 59.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$405M
▲ +144.7% YoY
Net Income (TTM)
$128M
▲ +117.9% YoY
Op. Margin
22.94%
▲ +437.3pp YoY
ROIC
1.15%
▲ +7.2pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$78M
▼ -33.5% YoY
Op. Cash Flow (TTM)
$137M
▼ -15.6% YoY
Net Debt
$4.04B
Cash & Equiv.
$184M
5Y CAGR: +9.2%
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