Angel Oak Mortgage REIT Inc. 9.500% Senior Notes due 2029 (AOMN)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at AOMN first as a credit, not as common stock: it is Angel Oak Mortgage REIT's 9.500% senior notes due 2029. The issuer's filed figures show net income of $33.7M in fiscal 2023, the year ended 2023-12-31; $28.8M in fiscal 2024, the year ended 2024-12-31; and $44.0M in fiscal 2025, the year ended 2025-12-31, with diluted EPS of $1.35, $1.17, and $1.80. That annual record improved in fiscal 2025. But the quarterly path is uneven: in fiscal Q3 2025, the quarter ended 2025-09-30, net income was $11.4M ($0.46 per diluted share); in fiscal Q2 2025, the quarter ended 2025-06-30, it was $767K ($0.03); in fiscal Q1 2026, the quarter ended 2026-03-31, it was a $7.4M loss (-$0.30); and in fiscal Q2 2026, the quarter ended 2026-06-30, it rebounded to $3.4M ($0.14). The computed Lynch category is TURNAROUND—returned to profit after a loss within the last three years—so operations are not smooth. I cannot judge a moat or financial health fully because revenue, P/E, P/B, ROE, ROCE, D/E, dividend yield, beta, and FairStock score are all N/A. The note price was $24.17 at the 2026-10-16 close, within a 52-week range of $23.64-$25.85, and market cap was $561.1M. Without par, yield-to-maturity, interest coverage, or leverage, I would call the price fair-to-slightly-cheap at best, not a clear bargain. The 9.500% coupon is attractive only if issuer earnings remain adequate through 2029.

In plain English: Angel Oak Mortgage REIT's 9.500% senior notes due 2029 are debt from a mortgage real estate company; they pay a fixed 9.5% interest rate and mature in 2029. The issuer reported positive annual net income in fiscal 2023, 2024, and 2025, but quarterly results have swung between profits and a loss in fiscal Q1 2026, the quarter ended 2026-03-31, so the business looks mixed rather than clearly strong. At the 2026-10-16 close of $24.17, with several financial measures unavailable, the price looks fair to slightly cheap compared with the limited numbers—not clearly cheap.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer