ATAX Fundamental Analysis - AMERICA FIRST MULTIFAMILY IN

Fundamental Rating

Overall ATAX gets a fundamental rating of 3 out of 10. We evaluated ATAX against 0 industry peers in the Thrifts & Mortgage Finance industry. ATAX has a medium profitability rating, but doesn't score so well on its financial health evaluation. ATAX has a correct valuation and a medium growth rate.

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1. Profitability

1.1 Basic Checks

ATAX had positive earnings in the past year.

ATAX had a positive operating cash flow in the past year.

1.2 Ratios

ATAX has a better Return On Assets (4.84%) than 90.91% of its industry peers.

Looking at the Return On Equity, with a value of 17.32%, ATAX belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	4.84%
ROE	17.32%
ROIC	N/A

ROA(3y)N/A

ROA(5y)N/A

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

ATAX's Profit Margin of 88.89% is amongst the best of the industry. ATAX outperforms 100.00% of its industry peers.

In the last couple of years the Profit Margin of ATAX has grown nicely.

ATAX's Operating Margin of 38.33% is amongst the best of the industry. ATAX outperforms 88.64% of its industry peers.

ATAX's Operating Margin has declined in the last couple of years.

		Industry Rank	Sector Rank
OM	38.33%
PM (TTM)	88.89%
GM	N/A

OM growth 3Y-11.03%

OM growth 5Y-3.43%

PM growth 3Y6.11%

PM growth 5Y11.33%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ATAX does not have a ROIC to compare to the WACC, probably because it is not profitable.

ATAX has less shares outstanding than it did 1 year ago.

Compared to 1 year ago, ATAX has a worse debt to assets ratio.

2.2 Solvency

The Debt to FCF ratio of ATAX is 34.12, which is on the high side as it means it would take ATAX, 34.12 years of fcf income to pay off all of its debts.

ATAX's Debt to FCF ratio of 34.12 is on the low side compared to the rest of the industry. ATAX is outperformed by 81.82% of its industry peers.

A Debt/Equity ratio of 2.51 is on the high side and indicates that ATAX has dependencies on debt financing.

ATAX's Debt to Equity ratio of 2.51 is on the low side compared to the rest of the industry. ATAX is outperformed by 87.50% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	2.51
Debt/FCF	34.12
Altman-Z	N/A

ROIC/WACCN/A

WACC5.68%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

ATAX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 135.77%, which is quite impressive.

Measured over the past years, ATAX shows a very strong growth in Earnings Per Share. The EPS has been growing by 35.62% on average per year.

The Revenue has grown by 27.55% in the past year. This is a very strong growth!

The Revenue has been decreasing by -1.29% on average over the past years.

EPS 1Y (TTM)135.77%

EPS 3Y39.1%

EPS 5Y35.62%

EPS Q2Q%38.6%

Revenue 1Y (TTM)27.55%

Revenue growth 3Y-8.14%

Revenue growth 5Y-1.29%

Sales Q2Q%27.84%

3.2 Future

The Earnings Per Share is expected to grow by 6.07% on average over the next years.

Based on estimates for the next years, ATAX will show a small growth in Revenue. The Revenue will grow by 6.89% on average per year.

EPS Next Y77.85%

EPS Next 2Y-1.96%

EPS Next 3Y2.98%

EPS Next 5Y6.07%

Revenue Next Year5.62%

Revenue Next 2Y10.72%

Revenue Next 3Y8.58%

Revenue Next 5Y6.89%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 6.41, which indicates a rather cheap valuation of ATAX.

Based on the Price/Earnings ratio, ATAX is valued cheaper than 84.09% of the companies in the same industry.

ATAX is valuated cheaply when we compare the Price/Earnings ratio to 27.11, which is the current average of the S&P500 Index.

With a Price/Forward Earnings ratio of 12.40, ATAX is valued correctly.

ATAX's Price/Forward Earnings is on the same level as the industry average.

Compared to an average S&P500 Price/Forward Earnings ratio of 35.78, ATAX is valued rather cheaply.

		Industry Rank	Sector Rank
PE	6.41
Fwd PE	12.4

4.2 Price Multiples

84.09% of the companies in the same industry are more expensive than ATAX, based on the Enterprise Value to EBITDA ratio.

Compared to the rest of the industry, the Price/Free Cash Flow ratio of ATAX indicates a slightly more expensive valuation: ATAX is more expensive than 65.91% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	13.85
EV/EBITDA	40.28

4.3 Compensation for Growth

ATAX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.

PEG (NY)0.08

PEG (5Y)0.18

EPS Next 2Y-1.96%

EPS Next 3Y2.98%

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5. Dividend

5.1 Amount

ATAX has a Yearly Dividend Yield of 7.84%, which is a nice return.

Compared to an average S&P500 Dividend Yield of 2.39, ATAX pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	7.84%

5.2 History

The dividend of ATAX decreases each year by -9.55%.

ATAX has been paying a dividend for at least 10 years, so it has a reliable track record.

Dividend Growth(5Y)-9.55%

Div Incr YearsN/A

Div Non Decr YearsN/A

5.3 Sustainability

ATAX pays out 65.69% of its income as dividend. This is not a sustainable payout ratio.

DP65.69%

EPS Next 2Y-1.96%

EPS Next 3Y2.98%

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AMERICA FIRST MULTIFAMILY IN

NASDAQ:ATAX (12/2/2022, 8:20:28 PM)

18.6

-0.45 (-2.39%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryThrifts & Mortgage Finance

Earnings (Last)11-03 2022-11-03/bmo

Earnings (Next)02-22 2023-02-22

Inst Owners9.17%

Inst Owner Change2.52%

Ins Owners4.52%

Ins Owner Change0%

Market Cap413.80M

Analysts82.22

Price Target21.76 (16.99%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	7.84%

Yearly Dividend1.11

Dividend Growth(5Y)-9.55%

DP65.69%

Div Incr YearsN/A

Div Non Decr YearsN/A

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)12.77%

Min EPS beat(2)-10.33%

Max EPS beat(2)35.88%

EPS beat(4)2

Avg EPS beat(4)24.65%

Min EPS beat(4)-10.33%

Max EPS beat(4)79.26%

EPS beat(8)N/A

Avg EPS beat(8)N/A

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)0

Avg Revenue beat(2)-11.44%

Min Revenue beat(2)-22.85%

Max Revenue beat(2)-0.02%

Revenue beat(4)2

Avg Revenue beat(4)-2.31%

Min Revenue beat(4)-22.85%

Max Revenue beat(4)7.55%

Revenue beat(8)N/A

Avg Revenue beat(8)N/A

Revenue beat(12)N/A

Avg Revenue beat(12)N/A

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)0%

PT rev (3m)N/A

EPS NQ rev (1m)-2.75%

EPS NQ rev (3m)N/A

EPS NY rev (1m)0%

EPS NY rev (3m)N/A

Revenue NQ rev (1m)1.39%

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0%

Revenue NY rev (3m)N/A

Valuation

		Industry Rank	Sector Rank
PE	6.41
Fwd PE	12.4
P/S	5.24
P/FCF	13.85
P/OCF	13.63
P/B	1.02
P/tB	1.34
EV/EBITDA	40.28

EPS(TTM)2.9

EY15.59%

EPS(NY)1.5

Fwd EY8.06%

FCF(TTM)1.34

FCFY7.22%

OCF(TTM)1.36

OCFY7.34%

SpS3.55

BVpS18.23

TBVpS13.88

PEG (NY)0.08

PEG (5Y)0.18

Profitability

		Industry Rank	Sector Rank
ROA	4.84%
ROE	17.32%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	38.33%
PM (TTM)	88.89%
GM	N/A
FCFM	N/A

ROA(3y)N/A

ROA(5y)N/A

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3Y-11.03%

OM growth 5Y-3.43%

PM growth 3Y6.11%

PM growth 5Y11.33%

GM growth 3YN/A

GM growth 5YN/A

F-Score5

Asset Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	2.51
Debt/FCF	34.12
Debt/EBITDA	30.87
Cap/Depr	17.34%
Cap/Sales	N/A
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	42.55%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC5.68%

ROIC/WACCN/A

Cap/Depr(3y)8.3%

Cap/Depr(5y)9.64%

Cap/Sales(3y)N/A

Cap/Sales(5y)N/A

Profit Quality(3y)120.37%

Profit Quality(5y)95.36%

High Growth Momentum

Growth

EPS 1Y (TTM)135.77%

EPS 3Y39.1%

EPS 5Y35.62%

EPS Q2Q%38.6%

EPS Next Y77.85%

EPS Next 2Y-1.96%

EPS Next 3Y2.98%

EPS Next 5Y6.07%

Revenue 1Y (TTM)27.55%

Revenue growth 3Y-8.14%

Revenue growth 5Y-1.29%

Sales Q2Q%27.84%

Revenue Next Year5.62%

Revenue Next 2Y10.72%

Revenue Next 3Y8.58%

Revenue Next 5Y6.89%

EBIT growth 1Y90.7%

EBIT growth 3Y-18.28%

EBIT growth 5Y-4.68%

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y71.28%

FCF growth 3Y10.35%

FCF growth 5Y48.17%

OCF growth 1Y70.5%

OCF growth 3Y9.76%

OCF growth 5Y17.38%

AMERICA FIRST MULTIFAMILY IN (ATAX) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens