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Bimini Capital (BMNM)
:BMNM
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Bimini Capital Management
(OTC:BMNM)
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Rating:49Neutral
Price Target:―
Bimini Capital Management's overall stock score reflects significant financial challenges, with high leverage and negative profitability metrics posing risks. While recent earnings showed strong performance, concerns about future market conditions and the lack of positive valuation indicators weigh on the score.
Positive Factors
Revenue Growth
The significant increase in advisory service revenues indicates strong demand and effective management, contributing to long-term revenue growth potential.
Net Interest Income Growth
The substantial growth in net interest income enhances cash flow and profitability, supporting sustainable business operations in the long term.
Capital Raise
The successful capital raise strengthens the balance sheet, providing financial flexibility for future investments and growth opportunities.
Negative Factors
High Leverage
High leverage increases financial risk and limits the company's ability to invest in growth opportunities, potentially impacting long-term stability.
Negative Profitability
Ongoing negative profitability indicates challenges in cost management and revenue generation, which could hinder sustainable growth.
Challenging Market Conditions
Uncertain market conditions, exacerbated by new tariffs, could affect interest rate dynamics and investment strategies, impacting future performance.
Bimini Capital Management (BMNM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.12M
Dividend YieldN/A
Average Volume (3M)4.17K
Price to Earnings (P/E)18.6
Beta (1Y)1.11
Revenue Growth22.95%
EPS GrowthN/A
CountryUS
Employees10
SectorFinancial
Sector Strength70
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)0.18
Shares Outstanding10,005,457
10 Day Avg. Volume1,749
30 Day Avg. Volume4,171
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.47
Price to Sales (P/S)0.77
P/FCF Ratio3.13
Enterprise Value/Market Cap7.45
Enterprise Value/Revenue7.31
Enterprise Value/Gross Profit5.70
Enterprise Value/Ebitda9.02
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bimini Capital Management Business Overview & Revenue Model
Company DescriptionBimini Capital Management, Inc. (BMNM) is a financial services company primarily engaged in the management of mortgage-backed securities (MBS). The company operates in the real estate investment trust (REIT) sector, focusing on investing in and managing a leveraged portfolio of MBS. Bimini Capital Management aims to generate income for its shareholders by managing a portfolio that consists primarily of agency residential MBS, which are guaranteed by U.S. government-sponsored enterprises.
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:Jul 31, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Mar 05, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture. While there were notable achievements such as the successful capital raising by Orchid and growth in advisory and interest revenues, the company faced challenges with losses in the RMBS segment and modest net income. The market conditions and potential future developments in tariffs and interest rates add uncertainty.Q2-2025 Updates
Positive Updates
Orchid Capital Raising and Revenue Growth
Orchid was able to raise $139.4 million during the quarter, increasing shareholders' equity from $855.9 million to $912.0 million. This contributed to a 20% increase in advisory service revenues over the second quarter of 2024 and a 6% increase over the first quarter of 2025.
Improved Interest Revenues
Despite adverse market conditions, interest revenues increased by 23% over the second quarter of 2024 and by 24% for the 6-month period ended June 30, 2025.
Stable Expenses
Expenses for the quarter were relatively stable, up 1% over the 2024 quarter, while expenses for the first two quarters of 2025 were down 1% versus the 2024 period.
Negative Updates
RMBS Segment Loss
The RMBS segment reported a loss of $1.3 million for the quarter. Additionally, the sector as a whole did not fully recover from market turmoil early in the quarter.
Other Income Loss
Other income resulted in a $1 million loss for the second quarter of 2025, compared to a loss of $0.3 million for the second quarter of 2024.
Net Income Challenges
Bimini as a whole generated modest net income of approximately $43,000 for the quarter, and $0.6 million or $0.06 per share for the 6 months ended June 30, 2025.
Company Guidance
During the second quarter of 2025, Bimini Capital Management faced challenging market conditions due to reciprocal tariffs announced by the Trump administration, which temporarily affected financial markets and risk assets. Despite these challenges, Bimini reported a modest net income of approximately $43,000 for the quarter. The RMBS segment experienced a loss of $1.3 million, while the advisory services segment generated earnings of $1.9 million. For the first half of 2025, Bimini recorded net income of $0.6 million or $0.06 per share, reflecting an 8.7% return on shareholders' equity. Orchid raised $139.4 million in capital, increasing its shareholders' equity from $855.9 million to $912.0 million. Consequently, Bimini's advisory service revenues increased by 20% over Q2 2024 and 6% over Q1 2025, with a 21% increase for the first half of 2025 compared to the same period in 2024. Although the RMBS portfolio was reduced by $9.8 million early in the quarter, interest revenues rose by 23% over Q2 2024 and by 24% for the first half of 2025. Expenses remained relatively stable, with a 1% increase for the quarter and a 1% decrease for the first half of 2025 compared to 2024. Looking ahead, the company anticipates favorable conditions for RMBS, with stable interest rates and no new adverse tariff developments expected to support sector performance.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.45M | 13.07M | 10.64M | 12.15M | 8.04M | 10.09M |
| Gross Profit | 22.40M | 13.07M | 10.64M | 12.07M | 7.97M | 10.02M |
| EBITDA | 14.14M | 9.43M | 0.00 | -5.76M | 0.00 | 0.00 |
| Net Income | -650.47K | -1.31M | -3.98M | -19.82M | 275.41K | -5.49M |
Balance Sheet | ||||||
| Total Assets | 138.75M | 154.85M | 125.60M | 86.32M | 122.08M | 128.70M |
| Cash, Cash Equivalents and Short-Term Investments | 5.34M | 5.67M | 3.72M | 6.01M | 8.42M | 10.91M |
| Total Debt | 129.10M | 27.37M | 114.30M | 27.42M | 27.44M | 27.61M |
| Total Liabilities | 131.33M | 148.03M | 117.47M | 74.19M | 89.08M | 94.21M |
| Stockholders Equity | 7.42M | 6.82M | 8.13M | 12.12M | 33.00M | 34.49M |
Cash Flow | ||||||
| Free Cash Flow | 1.70M | 3.19M | 1.70M | 5.43M | 5.53M | 837.40K |
| Operating Cash Flow | 1.70M | 3.19M | 1.70M | 5.48M | 5.53M | 1.30M |
| Investing Cash Flow | -20.18M | -30.49B | -47.06M | 7.62M | 1.35M | 141.98M |
| Financing Cash Flow | 18.84M | 30.25B | 43.05M | -16.14M | -7.98M | -144.75M |
Bimini Capital Management Technical Analysis
Positive
1.35
Price Trends
1.41
Positive
1.27
Positive
1.12
Positive
Market Momentum
0.04
Positive
54.79
Neutral
16.67
Positive
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 1.35 is below the 20-day moving average (MA) of 1.65, below the 50-day MA of 1.41, and above the 200-day MA of 1.12, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 54.79 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, 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 0 New Risks
Bimini Capital Management Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $56.96M | 10.76 | 12.23% | 9.34% | -8.80% | -5.99% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | $85.35M | 16.86 | 4.14% | 21.47% | -31.69% | -72.10% | |
54 Neutral | $91.48M | 129.69 | 4.55% | 22.09% | 22.14% | ― | |
49 Neutral | $17.12M | 18.62 | 10.43% | ― | 22.95% | ― | |
49 Neutral | $124.17M | -1.23 | -9.11% | 7.12% | -28.13% | 62.49% | |
47 Neutral | $50.18M | -1.16 | -16.33% | 19.42% | -63.70% | -325.57% |
* Financial Sector Average
BMNM
Bimini Capital Management
1.70
0.56
49.12%
LOAN
Manhattan Bridge Capital
4.70
-0.33
-6.56%
LFT
Lument Finance Trust
1.51
-0.77
-33.77%
CHMI
Cherry Hill Mortgage
2.46
0.29
13.36%
SACH
Sachem Capital
1.02
-0.19
-15.70%
GPMT
Granite Point Mortgage
2.75
-0.36
-11.58%
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.