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what it is
Comstock manages, develops, and operates mixed-use real estate around Washington, D.C. for property owners.
how it gets paid
Last year Comstock made $51M in revenue. Asset management was the main engine at $17.0M, or 33% of sales.
what just happened
The quarter that mattered was Q4: EPS hit $0.99, versus $0.23 in Q3.
At a glance
B balance sheet — gets the job done, barely
30/100 earnings predictability — expect surprises
8.7x trailing p/e — the market's not buying it — or you found a deal
27.8% return on capital — every dollar works hard here
$1.41 fy2024 eps est
xvary composite: 47/100 — below average
What they do
Comstock manages, develops, and operates mixed-use real estate around Washington, D.C. for property owners.
Its edge is a long-term asset management agreement covering the entire Anchor Portfolio. Plain English: a related party hired Comstock to run the whole platform, and the contract uses cost-plus pricing (expenses get reimbursed, plus a fee). So what: with just 206 employees and a 20.6% operating margin, you are betting on a fee stream that is hard to dislodge quickly.
How they make money
$51M
annual revenue
Asset management
$17.0M
+15.0%
Development and construction management
$15.0M
+8.0%
Commercial property management
$8.0M
+5.0%
Residential property management
$7.0M
+4.0%
Parking management
$4.0M
+3.0%
The products that matter
develops mixed-use projects
Mixed-Use Development
$51M annual revenue
It's the entire current operating story, and it supports a 24.9% net income margin on the latest figures.
current cash engine
planned data center development
Data Center Platform
announced 4 days ago
This was announced 4 days ago with an Oklahoma and Mid-Atlantic focus. It may become a second leg of growth, but right now it contributes $0 disclosed revenue in this snapshot.
optionality, not proof
Key numbers
27.8%
return on capital
Return on capital → profit earned on the money running the business → so what: Comstock is squeezing a lot more earnings from each dollar than most companies.
20.6%
operating margin
Operating margin → what is left after running the business → so what: about $0.21 of every revenue dollar stays before interest and taxes.
8.7x
trailing p/e
P/E → years of current earnings you are paying for → so what: the stock is priced like a no-growth problem, not a 27.8% return business.
$5M
long-term debt
Long-term debt equals just 4% of capital. Plain English: lenders are not running this story. So what: your downside is more about contracts and execution than leverage.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $5M (4% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CHCI right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The quarter that mattered was Q4: EPS hit $0.99, versus $0.23 in Q3.
Quarterly profit was volatile all year, but Q4 did the heavy lifting for the full-year $1.41 result. Revenue was $39M in the latest quarter, up 192% vs. prior year, which tells you this business books work in chunks, not smooth lines.
$39M
revenue
$0.99
q4 eps
20.6%
operating margin
the number that mattered
Q4 EPS of $0.99 matters because it made up roughly 70% of the full-year $1.41, which shows how dependent results are on timing.
source: company filings and quarterly history, 2024
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What could go wrong
Your biggest risk is a data center pivot without operating proof layered on top of 100% current revenue tied to Washington, D.C.-area real estate.
high
Data center execution risk
The new platform was announced 4 days ago. There is no disclosed revenue from it in this snapshot. If it stays a press release instead of becoming projects, the rerating case disappears.
The new platform was announced 4 days ago. There is no disclosed revenue from it in this snapshot. If it stays a press release instead of becoming projects, the rerating case disappears.
high
Single-market concentration
All current operations sit in the Washington, D.C. metro area. A slowdown in that one market hits 100% of the existing revenue base.
All current operations sit in the Washington, D.C. metro area. A slowdown in that one market hits 100% of the existing revenue base.
med
Earnings quality skepticism
The company posts a 24.9% net margin, but the predictability score is only 30 / 100. Investors are telling you they do not fully trust the smoothness of those earnings.
The company posts a 24.9% net margin, but the predictability score is only 30 / 100. Investors are telling you they do not fully trust the smoothness of those earnings.
med
Small-cap trading risk
At a $119M market cap and a 15 / 100 price stability score, the stock can gap around on thin volume. Your entry price and your exit price may feel like two different securities.
At a $119M market cap and a 15 / 100 price stability score, the stock can gap around on thin volume. Your entry price and your exit price may feel like two different securities.
You have one current engine — D.C.-area real estate — and one new narrative — data centers. If the second one fails to show up in actual projects, the stock is back to being judged only on the first.
source: institutional data · regulatory filings · risk analysis
Pay attention to
strategy
Does the data center platform become real projects
The announcement is fresh. What matters next is not the concept. It's whether CHCI discloses signed sites, partners, or revenue tied to the new platform.
profitability
Can the 24.9% net margin hold
A single-digit earnings multiple only looks cheap if the earnings stick. Margin compression would tell you the market's skepticism was justified.
calendar
June 17, 2026 annual meeting
Director Robert Pincus is set to retire at the annual meeting. On a company this small, board changes are worth more attention than they get at large caps.
ownership
Any sign that institutions are stepping in or stepping away
The holder picture is thin in this snapshot. For a $119M stock, one serious buyer or seller can matter a lot more than the headline suggests.
Analyst rankings
earnings predictability
30 / 100
Low predictability means future results are hard to model. In human-speak, analysts would want more proof before treating this as a steady compounder.
balance sheet grade
B
A B balance sheet means the company is functional, not fragile. It also means you are not looking at a fortress that can fund any strategy shift without tradeoffs.
source: institutional data
Institutional activity
institutional ownership data for CHCI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$12
current price
n/a
target midpoint · n/a from current
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