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Financials · MFA

MFA Financial Inc. (MFA) financials

For the twelve months ended Sep 30, 2026, MFA Financial Inc. reported $781.71M of revenue and -$11.56M of net income.

Revenue, TTM
$781.71M
Revenue growth, YoY
+6.6%
Net income, TTM
-$11.56M
Net margin
-1.5%
EPS, diluted, TTM
-$0.53
Cash
$119.55M
P/S
0.81
Market cap
$634.1M
Annual revenue$745.06M
FY2016FY2025
Annual net income$176.78M
FY2016FY2025
Annual free cash flow$355.05M
FY2016FY2022

MFA revenue and earnings growth

MFA revenueQ3 2026$203.91M

Quarter YoY
+9.6%
QoQ
+3.6%
FY YoY
+2.9%
5Y CAGR
+11.5%
10Y CAGR
+7.4%

MFA revenue was $203.91M in fiscal Q3 2026 (ended Sep 30, 2026), up 9.6% from a year earlier and up 3.6% from the prior quarter. For the full fiscal 2025 it was $745.06M, up 2.9% from fiscal 2024. Compound annual growth was +11.5% over 5 years and +7.4% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MFA net incomeQ3 2026-$111.69M

FY YoY
+48.2%
10Y CAGR
-5.6%

MFA net income was -$111.69M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $48.10M a year earlier. For the full fiscal 2025 it was $176.78M, up 48.2% from fiscal 2024. Compound annual growth was -5.6% over 10 years.

MFA EPSQ3 2026-$1.19

FY YoY
+58.5%
10Y CAGR
-8.6%

MFA diluted EPS was -$1.19 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.35 a year earlier. For the full fiscal 2025 it was $1.30, up 58.5% from fiscal 2024. Compound annual growth was -8.6% over 10 years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$745.06M$723.97M$605.60M$482.42M$362.30M$432.83M$589.41M$381.46M$394.29M$372.65M
Selling, general and admin---$112.54M$85.55M-----
Interest expense--$429.12M$258.84M$120.39M$268.76M$332.36M$232.19M$197.14M$193.35M
Pre-tax income$176.05M$119.69M$80.44M-$232.43M------
Income tax-$735.0K$443.0K$278.0K-$851.0K$2.67M$2.00M$499.0K$0$0$0
Net income$176.78M$119.25M$80.16M-$231.58M$328.87M-$679.39M$378.12M$301.80M$322.39M$312.67M
EPS, basic$1.31$0.83$0.46-$2.57$2.66-$6.28$3.20$2.72$3.16$3.20
EPS, diluted$1.30$0.82$0.46-$2.57$2.63-$6.28$3.16$2.72$3.16$3.20
Diluted shares104.0M105.1M103.6M103.2M118.7M113.0M116.9M104.7M97.1M92.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$213.21M$601.31M$488.21M$494.08M$404.45M$821.52M$134.66M$88.71M$463.74M$318.57M
Goodwill$61.08M$61.08M$61.08M$61.08M$61.08M$0-$7.20M$7.19M$7.19M
Total assets$13.05B$11.41B$10.77B$9.11B$9.14B$6.93B$13.57B$12.42B$10.95B$12.48B
Total liabilities$11.22B$9.57B$8.87B$7.12B$6.60B$4.41B$10.18B$9.00B$7.69B$9.45B
Shareholders' equity$1.83B$1.84B$1.90B$1.99B$2.54B$2.52B$3.38B$3.42B$3.26B$3.03B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$76.25M$200.12M$108.74M$355.35M$137.80M$38.40M$215.78M$147.88M$176.51M$179.39M
Capital expenditures---$300.0K$12.05M$4.86M$1.88M$1.13M$872.0K$708.0K
Free cash flow---$355.05M$125.75M$33.53M$213.90M$146.75M$175.64M$178.68M
Investing cash flow-$1.79B-$424.60M-$1.55B-$1.12B-$2.18B$6.38B-$1.13B-$2.16B$1.82B$934.61M
Financing cash flow$1.49B$337.58M$1.43B$850.21M$1.63B-$5.74B$964.92M$1.63B-$1.85B-$1.03B
Dividends paid$148.18M$143.87M$143.10M$184.03M$156.14M$113.51M$361.56M$329.76M$308.59M$297.89M
Share repurchases$15.31M$1.49M$0$102.31M$85.59M$50.84M$0$0--
Stock-based compensation------$9.24M$8.01M$8.03M$9.16M
Depreciation and amortization------$3.32M$1.82M$1.52M$964.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY2.9%19.5%25.5%33.2%-16.3%-26.6%54.5%-3.3%5.8%1.7%
Net income growth, YoY48.2%48.8%----25.3%-6.4%3.1%-0.2%
EPS growth, YoY58.5%78.3%----16.2%-13.9%-1.2%0.0%
Net margin23.7%16.5%13.2%-48.0%90.8%-157.0%64.2%79.1%81.8%83.9%
Free cash flow margin---73.6%34.7%7.7%36.3%38.5%44.5%47.9%
Return on equity9.7%6.5%4.2%-11.6%12.9%-26.9%11.2%8.8%9.9%10.3%
Return on assets1.4%1.0%0.7%-2.5%3.6%-9.8%2.8%2.4%2.9%2.5%

Source: XBRL data MFA Financial Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-4, first reported May 4, 2022.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MFA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MFA$781.71M+6.6%-$11.56M-1.5%$634.1M
WELL$13.79B+39.2%$1.67B12.1%$181.46B
PLD$8.95B+6.7%$3.71B41.5%$124.09B
EQIX$10.06B+11.1%$1.65B16.4%$104.38B
AMT$11.01B+5.3%$3.31B30.1%$87.65B
SPG$7.15B+16.2%$4.51B63.0%$75.39B
DLR$6.34B+12.6%$1.38B21.7%$68.13B
PSA$5.03B+5.2%$1.90B37.8%$63.18B
O$6.21B+10.8%$1.36B21.8%$56.58B

MFA FAQ

7 questions
  • What is MFA revenue?
    MFA Financial Inc. (MFA) reported $781.71M of revenue for the twelve months ended Sep 30, 2026. That is up 6.6% from the year before. Revenue for fiscal 2025 was $745.06M.
  • Is MFA profitable?
    No. MFA Financial Inc. reported a net loss of $11.56M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does MFA have?
    MFA Financial Inc. reported $119.55M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is MFA revenue growing?
    MFA Financial Inc.'s revenue changed +2.9% in fiscal 2025, to $745.06M. Its compound annual growth rate was +11.5% over 5 years and +7.4% over 10 years.
  • What is MFA earnings per share?
    Diluted earnings per share were -$0.53 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MFA last report financial results?
    The latest statements here come from MFA Financial Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this MFA financial data come from?
    Quantisnow builds these statements from the structured XBRL data MFA Financial Inc. files with the SEC. It is provided for information only and is not investment advice.