企業概要
Ares Commercial Real Estate Corporation is a specialty finance enterprise that originates and invests in commercial real estate loans alongside related investments within the United States, serving owners, operators, and sponsors of commercial properties. The firm operates within the Real Estate sector and specifically functions in the REIT - Mortgage industry, positioning it as a specialized entity focused on mortgage financing rather than direct property ownership. The company's market capitalization stands at $277.95M, while its annual revenue over the trailing twelve months amounts to $72.68M, though an exact employee count is not disclosed in available records. These valuation and revenue figures indicate that Ares Commercial Real Estate Corporation maintains a mid-sized market footprint with significant capital commitments relative to its revenue stream, suggesting a business model reliant on high-debt leverage to generate returns rather than volume-based trading or massive operational staff.
財務健全性
The company reported a revenue of $72.68M for the trailing twelve months, yet it posted a net income of $-902,000, revealing a substantial gap between top-line performance and bottom-line profitability driven by high operating expenses or interest costs. EBITDA data is not available for this entity, which limits the ability to assess operating earnings before interest, taxes, depreciation, and amortization using standard metrics. The gross margin is recorded at 100.0%, indicating that the cost of goods sold is zero or negligible for this financial services model, whereas the operating margin stands at -195.8%, signaling that operating expenses significantly exceed operating income. The profit margin is -1.2%, confirming that the company is currently unprofitable on a net basis. Free cash flow figures are not disclosed, preventing a direct assessment of immediate financial flexibility derived from operations. On the balance sheet, cash holdings amount to $29.29M against total debt of $1.05B, resulting in a debt-to-equity ratio of 205.56, which characterizes the company as highly leveraged with a conservative liquidity posture only in terms of short-term obligations. The current ratio is 2.45, indicating that the company possesses $2.45 in current assets for every $1 of current liabilities, suggesting adequate short-term liquidity to meet obligations. Return on Equity is -0.2% and Return on Assets is -0.1%, metrics that reveal management is currently generating negative returns on the capital invested by shareholders and the total asset base.
バリュエーション評価
The trailing twelve-month P/E ratio is not applicable due to negative earnings, while the forward P/E ratio is 8.05, implying that the market prices future earnings expectations differently than historical performance allows for calculation. The price-to-book ratio is 0.54, indicating that the stock trades at approximately half its book value, suggesting the market values the company at a significant discount to its net asset value. The price-to-sales ratio stands at 3.82, which, when viewed alongside the unavailable EV/EBITDA metric, suggests the market is pricing the stock based on revenue multiples rather than traditional earnings or enterprise value multiples. The 52-week high is $5.89 and the 52-week low is $3.35, meaning the current price position must be evaluated against this range to determine if the stock is trading near recent extremes. The beta value is 1.25, indicating that the stock price volatility is expected to be 25% higher than the broader market movements, reflecting the inherent risks associated with the commercial real estate mortgage sector.
Growth & Income
Revenue growth year-over-year is -81.7%, while earnings growth year-over-year is not available due to the negative net income, implying a contraction in the top line that has not yet been offset by cost reductions or efficiency gains. The dividend yield is 11.9% with a payout ratio of 2266.7%, a figure that is mathematically unsustainable given the negative net income of $-902,000 and indicates the company is paying dividends from cash reserves or debt rather than retained earnings. Since the company is not generating positive net income, it cannot reinvest earnings into growth in the traditional sense but rather relies on capital markets and debt financing to sustain operations. The overall growth and income profile presents a high-yield but distressed scenario where income distribution is decoupled from profitability, and revenue contraction poses a significant threat to the sustainability of the dividend and the company's long-term viability.