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CHMI

Cherry Hill Mortgage Investment Corporation

CHMI

Cherry Hill Mortgage Investment Corporation • NYSE
$2.49 ▲ 5.51% (+0.13)
Market Cap $91.48 M
52w High $3.68
52w Low $2.17
Dividend Yield 0.55%
P/E 49.8
Volume 259.86K
Outstanding Shares 36.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.573M ▲ $8.573M ▲ $4.432M ▲ 51.697% ▲ $0.05 ▲ $0
Q2-2025 $7.989M ▲ $3.355M ▲ $1.527M ▲ 19.114% ▼ $-0.028 ▲ $0
Q1-2025 $-3.05M ▼ $-3.05M ▼ $-6.859M ▼ 224.885% ▲ $-0.29 ▼ $0
Q4-2024 $18.725M ▲ $18.725M ▲ $11.582M ▲ 61.853% ▼ $0.29 ▲ $0
Q3-2024 $-7.077M $-7.077M $-12.198M 172.361% $-0.49 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $55.447M ▼ $1.521B ▲ $1.286B ▲ $233.129M ▲
Q2-2025 $58.042M ▲ $1.491B ▲ $1.258B ▲ $229.892M ▲
Q1-2025 $47.291M ▲ $1.45B ▼ $1.22B ▼ $226.576M ▼
Q4-2024 $46.313M ▼ $1.491B ▼ $1.258B ▼ $230.342M ▼
Q3-2024 $50.152M $1.551B $1.312B $236.681M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.515M ▲ $-2.39M ▼ $-24.825M ▼ $23.871M ▼ $-3.344M ▼ $-2.39M ▼
Q2-2025 $1.561M ▲ $12.451M ▲ $-19.025M ▼ $25.273M ▲ $18.699M ▲ $12.451M ▲
Q1-2025 $-6.992M ▼ $682K ▼ $19.463M ▼ $-41.608M ▼ $-21.463M ▼ $682K ▼
Q4-2024 $11.814M ▲ $5.931M ▲ $26.396M ▲ $-16.222M ▼ $16.105M ▲ $5.931M ▲
Q3-2024 $-12.444M $4.366M $-96.948M $88.699M $-3.883M $4.372M

Revenue by Products

Product Q3-2022Q4-2022Q1-2023Q3-2023
RMBS Segment
RMBS Segment
 $0 ▲$0 ▲$0 ▲$0 ▲
Servicing Related Assets
Servicing Related Assets
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Earnings have been choppy and very sensitive to interest-rate conditions. The company has swung between modest profits and meaningful losses over the past five years, with especially weak years when mortgage markets were stressed. Profit margins are thin, and even small changes in funding costs or asset values can flip results from positive to negative. That’s typical for a mortgage REIT, but it means results are volatile and not on a clear growth trajectory.

Balance Sheet

Balance Sheet The balance sheet is heavily financed with borrowings, which is standard for mortgage REITs but leaves a relatively small equity cushion. Total assets have stayed in a similar range over time, suggesting the company is maintaining rather than expanding its scale. Cash levels are modest but fairly steady. Shareholders’ equity has trended slightly lower, reflecting past losses and pressure on book value, so protection against future shocks is not especially thick.

Cash Flow

Cash Flow Cash generation from the core business has generally been positive, with operating cash flow covering the modest investment needs of the company. Capital spending is very light, so the business does not require large ongoing investments to function. Free cash flow has been mostly positive but not strongly growing, mirroring the pattern of uneven earnings. Overall, the cash profile looks adequate but closely tied to market conditions rather than structurally improving.

Competitive Edge

Competitive Edge Cherry Hill operates in a crowded field of mortgage REITs and large financial institutions that often have greater scale and cheaper funding. Its main differentiator is a hybrid strategy focused on both mortgage servicing rights and mortgage-backed securities, combined with active hedging to manage rate risk. Internalizing management should lower costs and better align incentives, but the company remains a smaller player with less scale advantage than some peers. Its performance will likely depend on execution quality and nimbleness more than on a deep, entrenched moat.

Innovation and R&D

Innovation and R&D While it doesn’t do traditional R&D, Cherry Hill is trying to innovate through structure and technology. The Real Genius partnership is a notable step into digital mortgage origination, aiming to modernize the borrower experience and capture more of the mortgage value chain. Internalizing management is another strategic change aimed at improving efficiency. These moves are promising but still relatively new, so their real impact on stability and growth will only become clear over time.

Summary

Cherry Hill is a small, specialized mortgage REIT with a volatile earnings history and a balance sheet that relies heavily on borrowing, which is normal for its business model but leaves limited room for error. Its cash flows are generally positive but tied closely to interest-rate cycles and mortgage market conditions. Competitively, it relies on a hybrid asset mix, risk management, and now internal management and a digital origination partnership rather than on scale. The key watchpoints are how well it manages interest-rate risk, preserves book value, and executes on its digital and internalization strategies to smooth out results in a very cyclical, rate-sensitive industry.

NEWS

November 6, 2025 · 4:15 PM UTC

Cherry Hill Mortgage Investment Corporation Announces Third Quarter 2025 Results

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October 30, 2025 · 4:15 PM UTC

Cherry Hill Mortgage Investment Corporation Sets Date for Third Quarter 2025 Earnings Release and Conference Call

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September 15, 2025 · 4:30 PM UTC

Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the Third Quarter 2025

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