CHIMERA INVESTMENT CORP (CIM) FY2025 10-K Annual Report
CHIMERA INVESTMENT CORP (CIM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 18, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CHIMERA INVESTMENT CORP FY2025 10-K Analysis
Business Overview
- • Core business model: diversified residential mortgage real estate investment, origination, and management platform
- • New segment introduced: Residential Origination segment via $272M acquisition of HomeXpress Mortgage Corp. in October 2025
- • Strategic shift: repositioning as vertically integrated residential real estate platform with expanded mortgage lending and MSR investments
- • Notable metric: acquisition consideration for HomeXpress $272 million, including $124 million cash, $120 million premium, 2.08 million common shares
- • Unique fact: first-time investment in Mortgage Servicing Rights (MSRs) initiated in 2025 alongside increased liquid Agency RMBS allocations
Management Discussion & Analysis
- • Revenue contribution from Palisades fees $35M full year 2025, $9M Q4 2025; HomeXpress loans originated $1.04B Q4 2025
- • HomeXpress Q4 net income $8M, operating income $11M excl. amortization; operating income 111 bps of loan origination volume
- • Investment Portfolio bought $4.3B Agency RMBS in 2025; sold $104M Non-Agency subordinate, $88M senior, $164M Agency CMBS IO in Q3; realized losses $8.4M Q3, $5M Q4
- • Capital raised $116M net from $120M 8.875% unsecured senior notes; securitized $288M residential mortgage loans in CIM 2025-I1
- • Management outlook cautious on inflation, rates, labor, housing affordability; expects HomeXpress growth from broker network expansion and correspondent platform rollout
Risk Factors
- • Cybersecurity risk overseen by Board, Audit and Risk Committees with regular reports from CISO and Incident Response Team
- • CISO with 28+ years IT experience leads internal cybersecurity program and infrastructure improvements
- • Incident Response Team coordinates internal and third-party resources during cybersecurity incidents and escalates to CEO and Board
- • Potential material cybersecurity events require notifying regulatory and government authorities as mandated by law
CHIMERA INVESTMENT CORP FY2025 Key Financial MetricsXBRL
Revenue
$821M
▲ +7.9% YoY
Net Income
$230M
▲ +30.9% YoY
Net Margin
28.1%
▲ +493bp YoY
ROE
9.0%
▲ +199bp YoY
Total Assets
$15.8B
▲ +20.5% YoY
EPS (Diluted)
$1.72
▲ +56.4% YoY
Operating Cash Flow
-$249M
▼ -221.0% YoY
Source: XBRL data from CHIMERA INVESTMENT CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.
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