MFA

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MFA Financial, Inc.

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Key Metrics

Previous Close: $9.10
52-Week Range: $8.80 – $10.57
Market Cap: $903.73M
P/E (TTM): 8.85
EPS (TTM): 1.01
Dividend Yield: 15.82%

Advanced Metrics

Price/Book: 0.51
PEG Ratio: 2.48
Return on Equity: 8.24%
Return on Assets: 1.17%
Gross Margin: 87.59%
Operating Margin: 53.97%
Profit Margin: 48.95%
Current Ratio: 43.94
Debt/Equity: 6.57
Total Debt: $11.67B
Free Cash Flow: —
Revenue Growth: 20.20%
Earnings Growth: 61.90%
Enterprise Value: $12.43B

MFA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	-$84.58M	$205.46M	$252.85M	$298.59M
Selling, General & Admin	$112.72M	$129.67M	$131.91M	$119.41M
Pretax Income	-$232.43M	$80.44M	$119.69M	$176.05M
Income Tax	-$851.00K	$278.00K	$443.00K	-$735.00K
Net Income	-$231.58M	$80.16M	$119.25M	$176.78M
Diluted EPS	-2.57	0.46	0.82	1.30
Diluted Shares	102.90M	103.58M	105.34M	104.97M

MFA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$334.18M	$318.00M	$338.93M	$213.21M
Receivables	$367.82M	$123.01M	$126.04M	$119.99M
Total Assets	$9.11B	$10.77B	$11.41B	$13.05B
Long-Term Debt	$3.59B	$4.96B	$5.98B	$6.55B
Total Debt	$3.63B	$5.00B	$6.02B	$6.60B
Total Liabilities	$7.12B	$8.87B	$9.57B	$11.22B
Retained Earnings	-$1.72B	-$1.82B	-$1.88B	-$1.90B
Shareholders' Equity	$1.99B	$1.90B	$1.84B	$1.83B
Net Debt	$3.25B	$4.64B	$5.64B	$6.33B

MFA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$355.35M	$108.74M	$200.12M	$76.25M
Capital Expenditure	-$300.00K	—	—	—
Free Cash Flow	$355.35M	$108.74M	$200.12M	$76.25M
Investing Cash Flow	-$1.12B	-$1.55B	-$424.60M	-$1.79B
Financing Cash Flow	$850.21M	$1.43B	$337.58M	$1.49B
Dividends Paid	-$216.91M	-$175.98M	-$176.75M	-$188.50M
Share Repurchases	-$102.31M	-$7.00K	-$1.57M	-$15.38M
Net Change in Cash	$89.63M	-$5.87M	$113.10M	-$214.64M

MFA Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$74.80M	$64.94M	$77.53M	$81.32M	$33.39M
Selling, General & Admin	$33.55M	$29.93M	$28.95M	$26.98M	$34.31M
Pretax Income	$40.30M	$33.42M	$48.00M	$54.32M	-$984.00K
Income Tax	-$872.00K	$238.00K	-$101.00K	$0.00	$0.00
Net Income	$41.18M	$33.18M	$48.10M	$54.32M	-$984.00K
Diluted EPS	0.31	0.21	0.35	0.42	-0.11
Diluted Shares	106.31M	107.73M	105.75M	103.06M	104.25M

MFA Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$253.71M	$275.73M	$305.17M	$213.21M	$221.57M
Receivables	$126.97M	$118.83M	$114.54M	$119.99M	$117.84M
Total Assets	$11.52B	$11.67B	$12.10B	$13.05B	$13.23B
Long-Term Debt	$6.06B	$6.09B	$6.55B	$6.55B	$6.48B
Total Debt	$6.10B	$6.14B	$6.60B	$6.60B	$6.50B
Total Liabilities	$9.68B	$9.85B	$10.28B	$11.22B	$11.45B
Retained Earnings	-$1.88B	-$1.90B	-$1.90B	-$1.90B	-$1.94B
Shareholders' Equity	$1.84B	$1.82B	$1.82B	$1.83B	$1.78B
Net Debt	$5.80B	$5.81B	$6.24B	$6.33B	$6.26B

MFA Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$14.56M	$38.46M	$14.72M	$37.63M	$71.07M
Free Cash Flow	-$14.56M	$38.46M	$14.72M	$37.63M	$71.07M
Investing Cash Flow	-$251.55M	-$30.51M	-$271.97M	-$1.23B	-$225.61M
Financing Cash Flow	$138.09M	$63.71M	$249.26M	$1.04B	$178.69M
Dividends Paid	-$44.10M	-$47.96M	-$48.41M	-$48.03M	-$49.29M
Share Repurchases	-$5.21M	-$20.00K	-$5.17M	-$4.98M	-$9.04M
Net Change in Cash	-$128.02M	$71.66M	-$7.99M	-$150.30M	$24.14M

Market Snapshot

About

MFA Financial, Inc. is a real estate investment trust specializing in residential mortgage assets. The company invests in mortgage-backed securities, residential whole loans, and related mortgage assets across the credit spectrum. MFA focuses on generating returns through net interest income and asset management strategies. The REIT employs leverage and hedging techniques to manage interest rate risk and enhance returns for shareholders. Founded in 1997, MFA has expertise in residential mortgage credit analysis and portfolio management.