NasdaqCM:MMAC

Stock Analysis Report

Executive Summary

MMA Capital Holdings, Inc. invests in debt associated with renewable energy infrastructure and real estate sectors.

Rewards

PE ratio (3.8x) is below the US market (18.4x)

Earnings grew by 719.2% over the past year

Risk Analysis

Large one-off items impacting financial results

Shareholders have been diluted in the past year



Snowflake Analysis

Solid track record and fair value.


Similar Companies

Share Price & News

How has MMA Capital Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MMAC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.1%

MMAC

-1.9%

US Mortgage

1.5%

US Market


1 Year Return

13.2%

MMAC

7.3%

US Mortgage

20.1%

US Market

Return vs Industry: MMAC exceeded the US Mortgage industry which returned 7.3% over the past year.

Return vs Market: MMAC underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

MMACIndustryMarket
7 Day3.1%-1.9%1.5%
30 Day1.5%-1.6%1.4%
90 Day-2.0%-2.1%8.7%
1 Year13.2%13.2%9.8%7.3%22.7%20.1%
3 Year42.3%42.3%19.1%10.7%50.1%40.5%
5 Year251.9%251.9%60.4%42.6%73.1%54.1%

Price Volatility Vs. Market

How volatile is MMA Capital Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MMA Capital Holdings undervalued compared to its fair value and its price relative to the market?

3.82x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MMAC's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MMAC's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: MMAC is good value based on its PE Ratio (3.8x) compared to the Mortgage industry average (13.7x).

PE vs Market: MMAC is good value based on its PE Ratio (3.8x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MMAC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MMAC is good value based on its PB Ratio (0.8x) compared to the US Mortgage industry average (1.1x).


Next Steps

Future Growth

How is MMA Capital Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.4%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as MMA Capital Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has MMA Capital Holdings performed over the past 5 years?

25.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MMAC has a large one-off gain of $44.4M impacting its September 30 2019 financial results.

Growing Profit Margin: MMAC's current net profit margins are higher than last year (29.2%).


Past Earnings Growth Analysis

Earnings Trend: MMAC's earnings have grown significantly by 25.9% per year over the past 5 years.

Accelerating Growth: MMAC's earnings growth over the past year (719.2%) exceeds its 5-year average (25.9% per year).

Earnings vs Industry: MMAC earnings growth over the past year (719.2%) exceeded the Mortgage industry 11.1%.


Return on Equity

High ROE: MMAC's Return on Equity (22.6%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is MMA Capital Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MMAC has a low level of unsold assets or inventory.

Debt Coverage by Assets: MMAC's debt is not covered by short term assets (assets are 0.7x debt).


Financial Institutions Analysis

Asset Level: MMAC's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MMAC has a sufficient allowance for bad loans.

Low Risk Liabilities: MMAC reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MMAC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MMAC has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MMAC has an appropriate level of bad loans.


Next Steps

Dividend

What is MMA Capital Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MMAC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MMAC's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MMAC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MMAC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MMAC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Mike Falcone (57yo)

15.1yrs

Tenure

US$1,722,314

Compensation

Mr. Michael L. Falcone, also known as Mike, has been the Chief Executive Officer at MMA Capital Holdings, Inc. since January 1, 2005 and was its President since December 1997. Mr. Falcone serves as the Chi ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD1.11M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Falcone
CEO & Director15.1yrsUS$1.72m5.79% $10.7m
Gary Mentesana
President & COO2.1yrsUS$1.51m4.53% $8.4m
David Bjarnason
Executive VP & CFO4.5yrsUS$873.40k0.16% $300.6k
J. Martin
Secretary & VP of Tax0yrsno datano data
Megan Sophocles
Senior Vice President5.1yrsno datano data

4.8yrs

Average Tenure

54yo

Average Age

Experienced Management: MMAC's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Falcone
CEO & Director15.1yrsUS$1.72m5.79% $10.7m
Cecil Flamer
Director0.08yrsno datano data
Francis Gallagher
Chairman of the Board5.9yrsUS$140.00k0.040% $74.6k
Frederick Puddester
Non-Executive Director8.5yrsUS$130.00k0.86% $1.6m
James Hunt
Non-Executive Director1.7yrsno data0.27% $506.5k
James Grant
Non-Executive Director7.1yrsUS$130.00k0.091% $169.5k
Lisa Kay
Non-Executive Director3.5yrsUS$120.00k0.37% $687.3k
Suzanne Kucera
Director0.08yrsno datano data

4.7yrs

Average Tenure

58yo

Average Age

Experienced Board: MMAC's board of directors are considered experienced (4.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.6%.


Top Shareholders

Company Information

MMA Capital Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MMA Capital Holdings, Inc.
  • Ticker: MMAC
  • Exchange: NasdaqCM
  • Founded: 1995
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$185.762m
  • Shares outstanding: 5.76m
  • Website: https://mmacapitalholdings.com

Number of Employees


Location

  • MMA Capital Holdings, Inc.
  • 3600 O’Donnell Street
  • Suite 600
  • Baltimore
  • Maryland
  • 21224
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MMACNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDAug 1996

Biography

MMA Capital Holdings, Inc. invests in debt associated with renewable energy infrastructure and real estate sectors. Its energy capital portfolio invests in loans that finance renewable energy projects in North America. The company was formerly known as MMA Capital Management, LLC and changed its name to MMA Capital Holdings, Inc. in January 2019. MMA Capital Holdings, Inc. was founded in 1995 and is headquartered in Baltimore, Maryland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 23:46
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.