Angel Oak Mortgage REIT (AOMR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Angel Oak Mortgage REIT

NYSE•Real Estate•REIT - Mortgage

$8.14-0.13(-0.02%)Market open

Market Cap

$193.32M

P/E

10.3x

P/S

4.4x

P/B

0.8x

Angel Oak Mortgage REIT, Inc., a real estate finance company, focuses on acquiring and investing in first lien nonqualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans. The company also offers futures contracts; non-agency residential mortgage backed securities; non-recourse securitization obligations; collateralized by residential mortgage loans; commercial bridge loans; mezzanine loans; construction loans; B-Notes; home equity lines of credit (HELOCs); and other related instruments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Angel Oak Mortgage, Inc. and changed its name to Angel Oak Mortgage REIT, Inc. in March 2023. Angel Oak Mortgage REIT, Inc. was incorporated in 2018 and is headquartered in Atlanta, Georgia.

How this company scores

WeakMetricSide Score: 35/100

Grade capped at D — Interest coverage below 1× (0.2x) — earnings cannot cover interest. Strongest: Profitability (15/25); weakest: Cash & Earnings Quality (1/25).

Profitability15/25

Growth14/25

Balance Sheet & Red Flags5/25

Cash & Earnings Quality1/25

Strengths

Strong marginsConsistent growthImproving margins

Grade capped at D

Interest coverage below 1× (0.2x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.3x5y range 3.4x – 12.6x

Currently above its 11-quarter median.

P/S · 4.4x5y range 2.2x – 9.6x

Currently near its 18-quarter median.

P/B · 0.8x5y range 0.5x – 1.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Red Flag

D/E ratio is 10.6 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Price & Volume

Market Cap $193.32M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $43.92M
Q. Revenue: $10.74M
TTM EBITDA: $26.76M
TTM Op. Income: $26.76M
Q. Op. Income: $7.09M
TTM Net Income: $18.70M
Q. Net Income: $3.35M
EPS: $0.14
Shares Out.: $23.96M

$43.92M in TTM revenue grew 12.9% YoY, reaching $10.74M last quarter. TTM EBITDA of $26.76M and TTM operating income of $26.76M show growth is flowing through to the bottom line. TTM net income of $18.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 66.0%
Op. Margin: 66.0%
Net Margin: 31.2%

Op. margin of 66.0% is up 17.3% YoY — cost efficiency is improving. Net margin at 31.2% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.3x
P/S Ratio: 4.4x
P/B Ratio: 0.8x

At 10.3x P/E, the stock trades below typical market levels. P/S of 4.4x and P/B of 0.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 75% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.99B
Cash: $48.63M
Long-Term Debt: $2.49B
Book Value: $234.87M
D/E Ratio: 10.6
Debt/EBITDA: 351.5

With $2.99B in assets and $2.49B in long-term debt, D/E is 10.6and book value is $234.87M — elevated leverage, meaning significant financial risk in a downturn. Across the last 4 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-81.93M
TTM Free Cash Flow: $-451.49M
FCF Margin: -1027.9%
FCF / Net Income: -24.1

TTM FCF of $-451.49M on $-81.93M in operating cash flow. The FCF / Net Income ratio of -24.1x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 8% — a weakening trend.