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Western Asset Mortgage Capital Corporation (WMC) Q2 2023 Earnings Call Transcript
Western Asset Mortgage Capital Corporation (NYSE:WMC ) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Jeff Haas - Director, Financial Profiles, Inc. Bonnie Wongtrakool - Chief Executive Officer Sean Johnson - Deputy Chief Investment Officer Greg Handler - Chief Investment Officer Robert Lehman - Chief Financial Officer Operator Welcome to the Western Asset Mortgage Capital Corporation's Second Quarter 2023 Earnings Conference Call. Today's call is being recorded and will be available for replay beginning at 5:00 p.m.

Angelo Gordon-backed REIT in $300 mln bid for Western Asset Mortgage
AG Mortgage Investment Trust Inc , a real estate investment trust (REIT) managed by Angelo Gordon & Co, made a stock-and-cash offer on Thursday for Western Asset Mortgage Capital Corp , a peer managed by Franklin Resources Inc , that values it at about $300 million, including debt.

Western Asset Mortgage Capital: Little Chance Of Recovery In My Opinion
Western Asset Mortgage Capital Corporation struggles to recover from the pandemic shock and rising interest rates, with management considering a sale or merger. WMC's Q1 2023 results show improved earnings and asset prices, but book value remains significantly down from previous years. The mortgage market faces challenges in 2023, with higher interest rates discouraging refinancing and home sales, but overall performance remains robust due to low unemployment and strong household income.

Western Asset Mortgage Capital Corporation (WMC) Q1 2023 Earnings Call Transcript
Western Asset Mortgage Capital Corporation (NYSE:WMC ) Q1 2023 Earnings Conference Call May 5, 2023 12:00 PM ET Company Participants Larry Clark - Investor Relations Bonnie Wongtrakool - Chief Executive Officer Sean Johnson - Deputy Chief Investment Officer Greg Handler - Chief Investment Officer Robert Lehman - Chief Financial Officer Conference Call Participants Matthew Erdner - JonesTrading Operator Welcome to the Western Asset Mortgage Capital Corporation First Quarter 2023 Earnings Conference Call. Today's call is being recorded and will be available for replay beginning at 5:00 PM Eastern Standard Time.

Western Asset Mortgage Capital Corporation 2022 Q4 - Results - Earnings Call Presentation
The following slide deck was published by Western Asset Mortgage Capital Corporation in conjunction with their 2022 Q4 earnings call.

Western Asset Mortgage Capital Corporation (WMC) Q4 2022 Earnings Call Transcript
Western Asset Mortgage Capital Corporation (NYSE:WMC ) Q4 2022 Earnings Conference Call March 3, 2023 11:00 AM ET Company Participants Larry Clark - Investor Relations Bonnie Wongtrakool - Chief Executive Officer Robert Lehman - Chief Financial Officer Greg Handler - Chief Investment Officer Sean Johnson - Deputy Chief Investment Officer Conference Call Participants Jason Stewart - Jones Trading Operator Welcome to the Western Asset Mortgage Capital Corporation's Fourth Quarter and Full Year 2022 Earnings Conference Call. Today's call is being recorded and will be available for replay beginning at 5:00 p.m.

Best REITS For Reliable Income For 2023
REITs are dividend-paying entities that own or finance real estate.

Western Asset Mortgage Capital Corporation to Report Fourth Quarter and Full Year 2022 Financial Results
PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) today announced that it will release financial results for the fourth quarter and year ended December 31, 2022 after the market closes on Thursday, March 2, 2023. The Company will host a corresponding conference call with a live webcast on Friday, March 3, 2023 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time, to discuss those results.

Western Asset Mortgage Capital Corp (WMC) Q3 2022 Earnings Call Transcript
Western Asset Mortgage Capital Corp (NYSE:WMC ) Q3 2022 Earnings Conference Call November 4, 2022 12:00 PM ET Corporate Participants Larry Clark - Investor Relations Bonnie Wongtrakool - Chief Executive Officer Greg Handler - Chief Investment Officer Bob Lehman - Chief Financial Officer Sean Johnson - Deputy Chief Investment Officer Conference Call Participants Operator Good day and welcome to the Western Asset Mortgage Capital Corporation's Third Quarter 2022 Earnings Conference Call. Today's call is being recorded and will be available for replay beginning at 5:00 PM Eastern Standard Time.

Looking For Double-Digit Returns? 3 Mortgage REITs You Can Buy For Less Than They're Worth — By This Measure
When investing in mortgage real estate investment trust (REIT) it is important to know that these funds hold a five-year average dividend yield of 10.8%.
WMC Financial details
WMC Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2022-12-31
Metric | History | 2018-12-31 | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 10.39 | 16.91 | -47.59 | -4.9 | -10.49 | |
Net income per share | 5.49 | 13.21 | -53.99 | -8.26 | -14.16 | |
Operating cash flow per share | 22.25 | -9.76 | -24.28 | 0.34 | 2.57 | |
Free cash flow per share | 22.25 | -9.76 | -24.28 | 0.34 | 2.57 | |
Cash per share | 4.57 | 5.85 | 5.2 | 6.66 | 3.97 | |
Book value per share | 104.54 | 105.46 | 41.95 | 31.98 | 15.7 | |
Tangible book value per share | 104.54 | 105.46 | 41.95 | 33.84 | 15.7 | |
Share holders equity per share | 104.54 | 105.46 | 41.95 | 31.98 | 15.7 | |
Interest debt per share | 248.96 | 340.97 | 452.11 | 351.04 | 391.49 | |
Market cap | 401.29M | 552.9M | 198.25M | 127.4M | 55M | |
Enterprise value | 1.44B | 2.2B | 2.78B | 2.07B | 2.18B | |
P/E ratio | 15.2 | 7.82 | -0.6 | -2.55 | -0.64 | |
Price to sales ratio | 8.03 | 6.11 | -0.69 | -4.3 | -0.87 | |
POCF ratio | 3.75 | -10.58 | -1.34 | 61.7 | 3.55 | |
PFCF ratio | 3.75 | -10.58 | -1.34 | 61.7 | 3.55 | |
P/B Ratio | 0.8 | 0.98 | 0.78 | 0.66 | 0.58 | |
PTB ratio | 0.8 | 0.98 | 0.78 | 0.66 | 0.58 | |
EV to sales | 28.79 | 24.27 | -9.62 | -69.91 | -34.41 | |
Enterprise value over EBITDA | 8.7 | 30.61 | -8.49 | -41.59 | 41.87 | |
EV to operating cash flow | 13.44 | -42.04 | -18.85 | 1K | 140.67 | |
EV to free cash flow | 13.44 | -42.04 | -18.85 | 1K | 140.67 | |
Earnings yield | 0.07 | 0.13 | -1.66 | -0.39 | -1.55 | |
Free cash flow yield | 0.27 | -0.09 | -0.74 | 0.02 | 0.28 | |
Debt to equity | 2.11 | 2.97 | 10.26 | 10.27 | 23.48 | |
Debt to assets | 0.24 | 0.32 | 0.78 | 0.7 | 0.91 | |
Net debt to EBITDA | 6.28 | 22.9 | -7.88 | -39.03 | 40.81 | |
Current ratio | 8.44 | 9.33 | 5.31 | 5.21 | 0.41 | |
Interest coverage | 1.2 | 0.48 | -2.47 | -0.36 | 0.35 | |
Income quality | 4.05 | -0.74 | 0.45 | -0.04 | -0.18 | |
Dividend Yield | 0.13 | 0.11 | 0.1 | 0.11 | 0.2 | |
Payout ratio | 2.03 | 0.89 | -0.06 | -0.29 | -0.13 | |
Sales general and administrative to revenue | 0.07 | 0.05 | -0.02 | -0.21 | -0.07 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0.01 | 0.01 | 0 | -0.02 | -0.01 | |
Graham number | 113.62 | 177.04 | 225.75 | 77.09 | 70.72 | |
ROIC | 0.1 | 0.03 | -0.11 | -0.02 | 0.02 | |
Return on tangible assets | 0.01 | 0.01 | -0.1 | -0.02 | -0.03 | |
Graham Net | -809.29 | -833.55 | -495.69 | -422.7 | -383.72 | |
Working capital | 92.14M | 151.43M | 63.39M | 63.6M | -51.42M | |
Tangible asset value | 503.01M | 564.46M | 255.11M | 204.33M | 94.81M | |
Net current asset value | -3.89B | -4.43B | -3B | -2.54B | -2.32B | |
Invested capital | 2.11 | 2.97 | 10.26 | 10.27 | 23.48 | |
Average receivables | 106.36M | 121.41M | 92.38M | 42.5M | 31.19M | |
Average payables | 11.92M | 15.29M | 16.44M | 14.9M | 15.55M | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 763.31 | 557.77 | -58.61 | -474.88 | -137.52 | |
Days payables outstanding | 744.3 | 1.2K | 1.88K | 1.16K | 925.08 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 0.48 | 0.65 | -6.23 | -0.77 | -2.65 | |
Payables turnover | 0.49 | 0.3 | 0.19 | 0.31 | 0.39 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | 0.05 | 0.13 | -1.29 | -0.26 | -0.9 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2023-09-30 for Q3
Metric | History | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | -5.47 | 0.61 | 1.81 | -0.49 | -0.47 | |
Net income per share | -6.63 | -0.14 | 1.09 | -1.44 | 0 | |
Operating cash flow per share | 0.76 | 0.4 | -0.01 | 0.12 | -0.4 | |
Free cash flow per share | 0.76 | 0.4 | -0.01 | 0.12 | -0.4 | |
Cash per share | 9.17 | 3.97 | 2.67 | 2.9 | 4.07 | |
Book value per share | 16.22 | 15.7 | 16.46 | 14.8 | 12.89 | |
Tangible book value per share | 16.22 | 15.7 | 16.46 | 14.8 | 12.89 | |
Share holders equity per share | 16.22 | 15.7 | 16.46 | 14.8 | 12.89 | |
Interest debt per share | 381.7 | 374.8 | 357.7 | 344.52 | 331.61 | |
Market cap | 67.57M | 55.01M | 55.13M | 53.18M | 56.87M | |
Enterprise value | 2.28B | 2.18B | 2.16B | 2.07B | 2B | |
P/E ratio | -0.42 | -16.51 | 2.1 | -1.54 | -7.11K | |
Price to sales ratio | -2.05 | 14.87 | 5.06 | -18.16 | -19.8 | |
POCF ratio | 14.69 | 22.74 | -744.96 | 75.54 | -23.62 | |
PFCF ratio | 14.69 | 22.74 | -744.96 | 75.54 | -23.62 | |
P/B Ratio | 0.69 | 0.58 | 0.55 | 0.6 | 0.73 | |
PTB ratio | 0.69 | 0.58 | 0.55 | 0.6 | 0.73 | |
EV to sales | -69.05 | 589.13 | 198.32 | -705.04 | -696.86 | |
Enterprise value over EBITDA | -565.08 | 59.74 | 573.7 | -187.66 | -281.61 | |
EV to operating cash flow | 496.14 | 900.87 | -29.22K | 2.93K | -831.14 | |
EV to free cash flow | 496.14 | 900.87 | -29.22K | 2.93K | -831.14 | |
Earnings yield | -0.59 | -0.02 | 0.12 | -0.16 | 0 | |
Free cash flow yield | 0.07 | 0.04 | 0 | 0.01 | -0.04 | |
Debt to equity | 23.17 | 23.48 | 21.37 | 22.87 | 25.25 | |
Debt to assets | 0.87 | 0.91 | 0.88 | 0.89 | 0.88 | |
Net debt to EBITDA | -548.35 | 58.24 | 559.07 | -182.83 | -273.61 | |
Current ratio | 1.62 | 0.41 | 1.79 | 1.83 | 2.42 | |
Interest coverage | -0.11 | 0.98 | 1.18 | -0.3 | -0.19 | |
Income quality | -0.11 | -2.9 | -0.01 | -0.08 | 0.28 | |
Dividend Yield | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | |
Payout ratio | -0.06 | -2.9 | 0.37 | -0.24 | -1.06K | |
Sales general and administrative to revenue | -0.04 | 0.27 | 0.1 | -0.38 | -0.3 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0.03 | 0.01 | -0.03 | -0.04 | |
Graham number | 49.18 | 6.98 | 20.07 | 21.9 | 0.31 | |
ROIC | 0 | 0.01 | 0.02 | -0.01 | 0 | |
Return on tangible assets | -0.02 | 0 | 0 | 0 | 0 | |
Graham Net | -403.37 | -383.66 | -376.08 | -361.21 | -350.04 | |
Working capital | 8.91M | -51.42M | 12.06M | 12.81M | 20.86M | |
Tangible asset value | 97.96M | 94.81M | 99.37M | 88.72M | 77.99M | |
Net current asset value | -2.49B | -2.32B | -2.29B | -2.17B | -2.12B | |
Invested capital | 23.17 | 23.48 | 21.37 | 22.87 | 25.25 | |
Average receivables | 26.77M | 23.56M | 30.66M | 29.23M | 20.91M | |
Average payables | 14.34M | 15.17M | 15.64M | 15.37M | 15.06M | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | -63.36 | 580.63 | 309.12 | -645.36 | -652.53 | |
Days payables outstanding | 433.59 | 228.1 | 1.48K | 609.81 | 389.52 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | -1.42 | 0.16 | 0.29 | -0.14 | -0.14 | |
Payables turnover | 0.21 | 0.39 | 0.06 | 0.15 | 0.23 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | -0.41 | -0.01 | 0.07 | -0.1 | 0 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
WMC Frequently Asked Questions
What is Western Asset Mortgage Capital Corporation stock symbol ?
Western Asset Mortgage Capital Corporation is a US stock , located in Salt lake city of Ut and trading under the symbol WMC
Is Western Asset Mortgage Capital Corporation buy or a sell ?
1 stock analysts have 1 predictions with a medium analyst target price of $20. The lowest prediction is $20 and the highest is $20
What is WMC stock prediction ?
What is Western Asset Mortgage Capital Corporation stock quote today ?
Western Asset Mortgage Capital Corporation stock price is $9.18 today.
Is Western Asset Mortgage Capital Corporation stock public?
Yes, Western Asset Mortgage Capital Corporation is a publicly traded company.