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Angel Oak Mortgage REIT, Inc., a real estate finance company, focuses on acquiring and investing in first lien nonqualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans. The company also offers futures contracts; non-agency residential mortgage backed securities; non-recourse securitization obligations; collateralized by residential mortgage loans; commercial bridge loans; mezzanine loans; construction loans; B-Notes; home equity lines of credit (HELOCs); and other related instruments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Angel Oak Mortgage, Inc. and changed its name to Angel Oak Mortgage REIT, Inc. in March 2023. Angel Oak Mortgage REIT, Inc. was incorporated in 2018 and is headquartered in Atlanta, Georgia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $61M | - | $44M | $-407M | 16.5% | 18.5% | 53.1% |
| 2024 | $51M | - | $29M | $-221M | 12.0% | -6.2% | -14.7% |
| 2023 | $55M | - | $34M | $306M | 13.2% | - | - |
| 2022 | $-158M | - | $-188M | $-331M | -79.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | -157.95 | 54.86 | 51.46 | 60.99 |
| Pretax Income | -191.29 | 34.96 | 32.01 | 44.55 |
| Tax Provision | -3.46 | 1.25 | 3.26 | 0.53 |
| Net Income | -187.83 | 33.71 | 28.75 | 44.02 |
| Net Income Common Stockholders | -187.85 | 33.62 | 28.59 | 43.85 |
| Interest Expense | 63.02 | 67.05 | 73.50 | 102.56 |
| Interest Income | 115.54 | 95.95 | 110.43 | 143.66 |
| Selling General And Administration | 5.75 | 1.69 | 2.04 | 1.35 |
| Normalized Income | -187.83 | 33.71 | 28.75 | 44.02 |
| Basic EPS | -7.65 | 1.36 | 1.18 | 1.85 |
| Diluted EPS | -7.65 | 1.35 | 1.17 | 1.80 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.02 | 0.04 | 0.07 | 0.04 |
| Net Income From Continuing Operation Net Minority Interest | -187.83 | 33.71 | 28.75 | 44.02 |
| Net Interest Income | 52.52 | 28.90 | 36.92 | 41.10 |
| Net Income From Continuing And Discontinued Operation | -187.83 | 33.71 | 28.75 | 44.02 |
| Diluted Average Shares | 24.55 | 24.94 | 24.40 | 24.31 |
| Basic Average Shares | 24.55 | 24.72 | 24.18 | 23.68 |
| Diluted NI Availto Com Stockholders | -187.85 | 33.62 | 28.59 | 43.85 |
| Preferred Stock Dividends | 0.01 | 0.09 | 0.15 | 0.17 |
| Net Income Including Noncontrolling Interests | -187.83 | 33.71 | 28.75 | 44.02 |
| Net Income Continuous Operations | -187.83 | 33.71 | 28.75 | 44.02 |
| Gain On Sale Of Security | 75.88 | -13.75 | 4.09 | -7.82 |
| General And Administrative Expense | 5.75 | 1.69 | 2.04 | 1.35 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Salaries And Wages | 5.75 | 1.69 | 2.04 | 1.35 |
| Operating Revenue | -157.95 | 54.86 | 51.46 | 60.99 |
| Other Non Interest Expense | 27.59 | 18.21 | 17.41 | 15.09 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Angel Oak Mortgage REIT, Inc.this co. | AOMR | $225M | 5.02↓ discount | 0.84 | 16.5% | - |
| BRT Apartments Corp. | BRT | $268M | - | 1.51 | -6.7% | 14.41 |
| NexPoint Diversified Real Estate Trust | NXDT | $254M | - | 0.36 | -17.3% | 37.13 |
| TPG Mortgage Investment Trust, Inc. | MITT | $244M | 18.31 | 0.72 | 8.7% | - |
| Stratus Properties Inc. |
| STRS |
| $241M |
| 20.30 |
| 1.18 |
| 3.5% |
| -38.77 |
| American Realty Investors, Inc. | ARL | $222M | 14.18 | 0.36 | - | 99.05 |
| NLOP | NLOP | $192M | - | 0.65 | -48.8% | 1.49 |
| Seven Hills Realty Trust | SEVN | $182M | 8.97 | 0.55 | 4.6% | - |
| Douglas Elliman Inc. | DOUG | $174M | 11.59 | 0.95 | 8.3% | -46.49 |
| Peer Median | - | 14.18 | 0.68 | 3.5% | 7.95 | |