CYS Investments

CYS is a specialty finance company that was created with the objective of achieving consistent risk-adjusted investment income. We seek to achieve this objective by investing on a leveraged basis in residential mortgage pass-through securities for which the principal and interest payments are guaranteed by the Federal National Mortgage Association, or Fannie Mae, the Federal Home Loan Mortgage Corporation, or Freddie Mac, or the Government National Mortgage Association, or Ginnie Mae, and collateralized by single-family residential mortgage loans. We refer to these securities as Agency RMBS. We have elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.

Our Chief Executive Officer, President, and Chief Investment Officer, Kevin E. Grant, was a senior portfolio manager and member of the Aggregate Bond Team at Fidelity Investments, where he managed fixed income assets including the Mortgage Securities Fund, the Investment Grade Bond Fund, the Total Bond Fund, the fixed income portion of the Fidelity Puritan Fund and the Strategic Income Fund. Our investment team averages over 20 years’ experience in the fields of mortgage backed securities, structured finance, and corporate finance. Our portfolio managers have experience managing assets through the various interest rate and credit cycles since the early 1980s, and have the proven ability to generate risk-adjusted investment income in these environments.

Company Growth (employees)
Type
Public
HQ
Waltham, US
Founded
2006
Size (employees)
17 (est)
Website
cysinv.com
CYS Investments was founded in 2006 and is headquartered in Waltham, US

CYS Investments Office Locations

CYS Investments has offices in Waltham and New York
Waltham, US (HQ)
200 890 Winter St
New York, US
60 Columbus Cir

CYS Investments Data and Metrics

CYS Investments Financial Metrics

CYS Investments's revenue was reported to be $61.5 m in Q1, 2017
USD

Revenue (Q1, 2017)

61.5 m

Gross profit (Q1, 2017)

40.2 m

Gross profit margin (Q1, 2017), %

65%

Net income (Q1, 2017)

(34 m)

EBIT (Q1, 2017)

52.1 m

Market capitalization (15-Aug-2017)

1.3 b
CYS Investments's current market capitalization is $1.3 b.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

573.1 m62.2 m114.3 m

Revenue growth, %

(89%)84%

Cost of goods sold

124.6 m46.1 m74.3 m

Gross profit

448.5 m16.1 m40 m

Gross profit Margin, %

78%26%35%

Operating expense total

22.9 m20.8 m23.6 m

EBIT

(475.8 m)425.6 m(4.8 m)220.3 m

EBIT margin, %

74%(8%)193%

Net Income

(475.8 m)425.6 m(4.8 m)16.4 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

(55.8 m)78.8 m85.6 m80.8 m102.7 m61.5 m

Cost of goods sold

35.3 m36.9 m18.7 m17.5 m21.2 m

Gross profit

(91 m)41.8 m62.1 m85.2 m40.2 m

Gross profit Margin, %

163%53%77%83%65%

Sales and marketing expense

3.7 m3.7 m3.9 m3.6 m3.6 m3.8 m

Operating expense total

3.7 m3.7 m3.9 m3.6 m3.6 m3.8 m

EBIT

45.3 m47 m63.5 m56.2 m52.2 m52.1 m

EBIT margin, %

(81%)60%74%70%51%85%

Net Income

289.1 m314.1 m54.6 m(42.4 m)(6.4 m)61.3 m(56.2 m)(79 m)(34 m)
USDFY, 2014FY, 2015FY, 2016

Cash

4.3 m10 m

Accounts Receivable

37.9 m34.6 m31.8 m

Total Assets

14.9 b14.3 b13.2 b

Accounts Payable

27.2 m32.6 m1.6 m

Dividends Payable

27.9 m

Total Liabilities

11.7 b

Additional Paid-in Capital

2 b1.9 b1.9 b

Retained Earnings

(341.5 m)(519.2 m)(676.6 m)

Total Equity

2 b1.7 b1.5 b

Financial Leverage

7.5 x8.5 x8.6 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(475.8 m)425.6 m(4.8 m)16.4 m

Accounts Receivable

9.8 m(1.2 m)3.3 m2.7 m

Accounts Payable

(4.3 m)2.6 m5.4 m(4.7 m)

Cash From Operating Activities

2.9 b(669 k)5.7 m

Purchases of PP&E

(89.5 b)(63.7 b)(45.3 b)(32.4 b)

Cash From Investing Activities

218 m257.6 m167.9 m

Dividends Paid

(173.8 m)

Cash From Financing Activities

(2.9 b)(141 m)(481.6 m)(1.6 b)

Interest Paid

135.9 m101.8 m123.4 m65.5 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

289.1 m314.1 m54.6 m(42.4 m)(6.4 m)61.3 m(56.2 m)(79 m)(34 m)

Accounts Receivable

3.9 m573 k580 k343 k1.4 m530 k2.1 m1.3 m424 k

Accounts Payable

(4.3 m)4.3 m4.2 m(897 k)(8.8 m)(12.6 m)(12.3 m)(11.1 m)(2.5 m)

Cash From Operating Activities

100.6 m166.1 m53.9 m129.8 m183.4 m36.2 m78.2 m148.7 m47.3 m

Purchases of PP&E

(29.7 b)(50.3 b)(13.7 b)(28.3 b)(33.9 b)(2.9 b)(14.5 b)(27.8 b)

Cash From Investing Activities

1.3 b762.9 m566.3 m(453.2 m)(50.5 m)750.4 m643.6 m1.4 b633.5 m

Dividends Paid

(49.8 m)(92.9 m)(5.2 m)

Cash From Financing Activities

(1.4 b)(923.7 m)(617.3 m)369.1 m(108.6 m)(790.2 m)(718.6 m)(1.6 b)(681.5 m)

Interest Paid

48.2 m68.7 m28.5 m64.5 m101.2 m44.5 m37.5 m53.5 m23.8 m
USDY, 2017

Revenue/Employee

3.6 m

CYS Investments Market Value History

Traffic Overview of CYS Investments

CYS Investments Company Life and Culture

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