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Bimini Capital Management Inc (BMNM)
OTHER OTC:BMNM
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Bimini Capital Management
(OTC:BMNM)
Rating:49Neutral
Price Target:―
Bimini Capital Management (BMNM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.07M
Dividend YieldN/A
Average Volume (3M)13.19K
Price to Earnings (P/E)―
Beta (1Y)0.96
Revenue Growth9.09%
EPS Growth80.79%
CountryUS
Employees10
SectorFinancial
Sector Strength77
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)0.06
Shares Outstanding10,005,457
10 Day Avg. Volume451
30 Day Avg. Volume13,194
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)<0.01
Price to Sales (P/S)0.00
P/FCF Ratio8.66
Enterprise Value/Market Cap3.23
Enterprise Value/Revenue0.47
Enterprise Value/Gross Profit1.62
Enterprise Value/Ebitda0.71
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Bimini Capital Management Business Overview & Revenue Model
Company DescriptionBimini Capital Management, Inc., through its subsidiaries, engages in the asset management business in the United States. The company operates in two segments, Asset Management and Investment Portfolio. It administers business activities and day-to-day operations, as well as invests in residential mortgage-backed securities; and provides investment advisory services. The company was formerly known as Opteum Inc. and changed its name to Bimini Capital Management, Inc. in September 2007. Bimini Capital Management, Inc. was incorporated in 2003 and is headquartered in Vero Beach, Florida.
How the Company Makes MoneyBimini Capital Management generates revenue primarily through the interest income derived from its portfolio of mortgage-backed securities. The company purchases agency residential MBS, which pay periodic interest to the holder, thereby providing Bimini with a steady income stream. Additionally, the company may engage in hedging activities to manage the interest rate risk associated with holding these securities. Earnings are also influenced by the leverage employed in acquiring the MBS, as borrowing costs and interest rate spreads can significantly impact profitability. Bimini's revenue model relies heavily on the performance of the mortgage market, interest rate fluctuations, and the company's ability to effectively manage its investment portfolio.
Bimini Capital Management Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 7.53%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong performance in the first quarter with significant capital raises, revenue growth, and reduced interest charges. However, there are concerns about the challenging market conditions in the second quarter due to new tariffs.Q1-2025 Updates
Positive Updates
Strong Capital Raise by Orchid
Orchid Island Capital was able to raise $205.4 million during the quarter, increasing its shareholders' equity from $668.5 million at the end of 2024 to $855.9 million by March 2025.
Increased Advisory Service Revenues
Bimini's advisory service revenues increased to approximately $3.6 million, representing a 22% increase over the first quarter of 2024 and a 6% increase over the fourth quarter of 2024.
Significant Net Interest Income Growth
Net interest income, including dividends from Orchid common shares, increased approximately 64% over the first quarter of 2024 and approximately 35% over the fourth quarter of 2024.
Decreased Interest Charges
Interest charges on floating rate trust preferred and other long-term debt decreased by 12% from the first quarter of 2024 and 8% from the fourth quarter of 2024.
Positive Net Income Growth
The company recorded net income before taxes of $0.73 million for Q1 2025, up from $0.56 million in Q4 2024 and $0.61 million in Q1 2024.
Negative Updates
Increased Expenses
Expenses increased by 4% from the fourth quarter of 2024, although they decreased 3% compared to the first quarter of 2024.
Challenging Market Conditions in Second Quarter
The second quarter began with challenging market conditions and uncertainty due to new tariffs, impacting potential economic and market performance.
Company Guidance
During the first quarter of 2025, Bimini Capital Management experienced favorable market conditions that contributed to strong financial performance across its segments. Orchid Island Capital, the REIT externally managed by Bimini, raised $205.4 million, boosting its shareholders' equity from $668.5 million at the end of 2024 to $855.9 million by March 2025. This capital raise helped increase Bimini's advisory services revenues by 22% compared to the first quarter of 2024 and by 6% from the fourth quarter of 2024, totaling approximately $3.6 million. Orchid Island Capital also reported a net income of $17.1 million and achieved a 2.6% return on its book value for the quarter. Bimini's net interest income, including dividends from Orchid shares, rose by 64% year-over-year and 35% quarter-over-quarter, benefiting from lower funding costs due to Fed rate cuts. Overall, Bimini recorded a net income of $0.56 million for the quarter. However, the second quarter poses challenges due to uncertainties related to new tariffs and potential economic impacts, which could affect future interest rate dynamics and, consequently, the company's investment strategies.Bimini Capital Management Financial Statement Overview
Summary
Bimini Capital Management is facing significant financial challenges, including negative profitability metrics and high leverage, which pose risks to financial stability. Despite a substantial revenue increase in 2024, the company remains unprofitable with high debt reliance impacting future growth potential. Cash flow management is crucial for improving long-term viability.Income Statement
Bimini Capital Management has shown inconsistent revenue trends with a significant revenue increase in 2024 compared to previous years. However, the company has struggled with profitability, consistently reporting negative net income over the past few years, indicating challenges in managing costs or generating sufficient revenue. Gross profit margins remain high, but the lack of EBIT and EBITDA further highlights operational inefficiencies.40
Negative
Balance Sheet
The company's balance sheet reveals high leverage, with a significantly high debt-to-equity ratio due to substantial total debt compared to stockholders' equity. The equity ratio is low, indicating limited financial stability and a high reliance on debt financing. Return on equity is negative, reflecting the company's inability to generate profit from shareholders' investments.45
Neutral
Cash Flow
Cash flow from operations has been positive but insufficient to cover investing activities, which have been consistently negative due to significant capital outflows. Free cash flow shows growth in recent years, but the operating cash flow to net income ratio is skewed due to negative net income, suggesting cash generation issues despite operational activities.50
Neutral
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.07M | 10.64M | 12.15M | 8.04M | 10.09M |
| Gross Profit | 13.07M | 10.64M | 12.07M | 7.97M | 10.02M |
| EBITDA | 9.43M | 0.00 | -5.76M | 0.00 | 0.00 |
| Net Income | -1.31M | -3.98M | -19.82M | 275.41K | -5.49M |
Balance Sheet | |||||
| Total Assets | 154.85M | 125.60M | 86.32M | 122.08M | 128.70M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 3.72M | 6.01M | 8.42M | 10.91M |
| Total Debt | 27.37M | 114.30M | 27.42M | 27.44M | 27.61M |
| Total Liabilities | 148.03M | 117.47M | 74.19M | 89.08M | 94.21M |
| Stockholders Equity | 6.82B | 8.13M | 12.12M | 33.00M | 34.49M |
Cash Flow | |||||
| Free Cash Flow | 3.19M | 1.70M | 5.43M | 5.53M | 837.40K |
| Operating Cash Flow | 3.19M | 1.70M | 5.48M | 5.53M | 1.30M |
| Investing Cash Flow | -30.49B | -47.06M | 7.62M | 1.35M | 141.98M |
| Financing Cash Flow | 30.25B | 43.05M | -16.14M | -7.98M | -144.75M |
Bimini Capital Management Technical Analysis
Positive
1.00
Price Trends
0.94
Positive
0.98
Positive
0.99
Positive
Market Momentum
0.01
Negative
55.43
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BMNM, the sentiment is Positive. The current price of 1 is above the 20-day moving average (MA) of 0.96, above the 50-day MA of 0.94, and above the 200-day MA of 0.99, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.43 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BMNM.
Bimini Capital Management Risk Analysis
Bimini Capital Management disclosed 54 risk factors in its most recent earnings report. Bimini Capital Management reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
Valuations of our assets are based on third-party input, and on our own judgement, which can result in fluctuations over time. Q4, 2024
2.
We face possible risks associated with the effects of climate change, severe weather, natural disasters, acts of war or terrorism, and other adverse external events. Q4, 2024
Bimini Capital Management Peers Comparison
Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $62.91M | 11.57 | 12.70% | 8.29% | -5.84% | -3.44% | |
58 Neutral | HK$91.35B | 5.46 | -3.21% | 5.19% | 7.36% | -55.21% | |
50 Neutral | $88.18M | 43.78 | -2.83% | 22.22% | 0.33% | -37.48% | |
50 Neutral | $122.64M | ― | -7.80% | 8.89% | -42.79% | 86.97% | |
49 Neutral | $10.07M | ― | -12.31% | ― | 9.09% | 80.79% | |
49 Neutral | $121.50M | ― | -20.41% | 7.97% | -26.87% | -189.15% | |
47 Neutral | $57.72M | ― | -20.80% | 16.53% | -55.51% | -493.18% |
* Financial Sector Average
Performance Comparison
BMNM
Bimini Capital Management
1.00
0.06
6.38%
LOAN
Manhattan Bridge Capital
5.40
0.62
12.97%
CHMI
Cherry Hill Mortgage
2.63
-0.51
-16.24%
RPT
Rithm Property Trust
2.71
-0.68
-20.06%
SACH
Sachem Capital
1.14
-1.13
-49.78%
GPMT
Granite Point Mortgage
2.45
-0.39
-13.73%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.