Greystone Housing Impact Investors Lp

Finance
Finance: Consumer Services
www.ghiinvestors.com

Earnings Score
Moat Score

Market Cap $256.89M
PE 18
Debt $NaN
Cash $47.82M
EV $NaN
FCF $NaN

Earnings

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Sales & Net Margins

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Earnings	$14.52M
EBIT	$17.39M
ROE	4%
ROA	1%
Equity	$329.92M
Growth Stability	14%
PE	17.69
PEG	0.69
PB	0.78
P/S	2.74
Price/Cash	0.19
Net Margins	13%
Op. Margins	19%
Earnings CAGR	5%
Sales Growth YoY	-8%
Sales Growth QoQ	11%
Sales CAGR	4%
FCF CAGR	7%
Equity CAGR	1%
Earnings Stability	0.05
Earnings Growth YoY	-160%

Earnings Growth QoQ	-221%
Earnings CAGR 5Y	26%
Sales CAGR 5Y	16%
FCF CAGR 5Y	1%
Equity CAGR 5Y	-1%
Earnings CAGR 3Y	16%
Sales CAGR 3Y	16%
FCF CAGR 3Y	-9%
Equity CAGR 3Y	-1%
Market Cap	$256.89M
Revenue	$93.87M
Assets	$1.55B
Cash	$47.82M
Shares Outstanding	23.29M
Earnings Score	7%
Moat Score	53%
Shares Growth 3y	0%
Equity Growth QoQ	1%
Equity Growth YoY	11%

Assets & ROA

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Stockholders Equity & ROE

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America First Multifamily Investors LP is a US-based company engaged in acquiring a portfolio of mortgage revenue bonds that are issued by state and local housing authorities to provide construction and permanent financing. It has four reportable segments, namely Mortgage Revenue Bond Investments, MF Properties, Public Housing Capital Fund Trusts, and other Investments. The group's major share of revenue is derived from Mortgage Revenue Bond Investments segment. The Mortgage Revenue Bond Investments segment consists of the Partnership's portfolio of mortgage revenue bonds which have been issued to provide construction and permanent financing for the Residential Properties and a commercial property.

SEC Filings

Direct access to Greystone Housing Impact Investors Lp (GHI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Greystone Housing Impact Investors Lp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Greystone Housing Impact Investors Lp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 5%

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Greystone Housing Impact Investors Lp Discounted Cash Flow

Fully customizable DCF calculator online for Greystone Housing Impact Investors Lp.

Years

Calculation mode

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
DCF		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Value	$0

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	31%	41%	39%	41%	47%	44%	8%	51%	77%	49%	13%
ROA	-	3%	3%	3%	4%	3%	1%	3%	4%	4%	1%
ROE	-	8%	8%	9%	13%	8%	1%	9%	19%	15%	4%

Good Net Margins (13.02%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	4.42	9.67	2.13	1.09	1.5	1.68	0.79	0.09	-	-
Debt over Equity	0.28	0.23	0.18	0.11	0.09	0.08	0.07	0.07	0.01	-	-
Growth Stability	-	-	-	100%	100%	92%	14%	100%	100%	100%	14%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (14%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	32%	-9%	19%	16%	-23%	-11%	23%	18%	29%	16%
Earnings YoY growth	-	77%	-13%	23%	34%	-28%	-84%	712%	78%	-18%	26%
Equity YoY growth	-	1%	-11%	12%	-3%	12%	5%	4%	-13%	8%	-1%
FCF YoY growth	-	-353%	-67%	212%	51%	-29%	-14%	119%	-43%	25%	1%