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MFA Financial, Inc. 9.000% Senior Notes logo

MFA Financial, Inc. 9.000% Senior Notes

MFAO

NYSEReal EstateREIT - Mortgage

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Previous close

$25.24

+$0.04 · +0.16%

Aug 21, 3:58 PM ET

MFAO company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

82

Deep Value

Momentum

40

Weakening

Sentiment

53

Mixed

Risk resilience

89

Low Risk

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Company profile

Company website

MFA Financial, Inc. operates as a Real Estate Investment Trust (REIT) primarily focused on acquiring residential mortgage assets, employing a leveraged investment strategy. Its portfolio encompasses various types of mortgage-related instruments, including both agency and non-agency mortgage-backed securities, alongside residential whole loans. The company's activities are organized into two primary divisions: the Mortgage-Related Assets segment, which manages its extensive investment holdings, and the Lima One segment, dedicated to its distinct mortgage origination and servicing enterprise. Founded by Stewart Zimmerman on July 24, 1997, the firm maintains its headquarters in New York, NY.

Industry
REIT - Mortgage
Sector
Real Estate
Headquarters
US
CEO
Craig L. Knutson
Listed since
Apr 24, 2024
Employees
307

Market position

Day range

Current $25.24

52-week range

Current $25.24

Open
$25.32
Previous close
$25.20
Volume
5.32K
0.32× average
Average volume
16.43K
Average daily volume
Market cap
930.36M USD
Beta
0.04
Market reference 1
50-day average
$25.2816
-0.16% below average
200-day average
$25.2712
-0.12% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
11.75B USD
P/E (TTM)
6.75×
P/B (TTM)
0.52×
P/S (TTM)
1.21×
EV / EBITDA
17.02×
Earnings yield
18.31%
Free cash flow yield
7.90%
Dividend yield
16.16%

Profitability & efficiency

Gross margin
82.21%
Operating margin
91.73%
Net margin
19.71%
Return on equity
9.67%
Return on assets
1.36%
Return on invested capital
5.38%

Financial health

Debt / equity
6.56×
Current ratio
2.18×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends375%246%117%-12%Gross margin, FY2021: 85.64%Gross margin, FY2022: 163.43%Gross margin, FY2023: 85.41%Gross margin, FY2024: 87.37%Gross margin, FY2025: 96.18%Operating margin, FY2021: 87.32%Operating margin, FY2022: 331.31%Operating margin, FY2023: 29.55%Operating margin, FY2024: 228.10%Operating margin, FY2025: 78.84%Net margin, FY2021: 67.35%Net margin, FY2022: 342.47%Net margin, FY2023: 34.25%Net margin, FY2024: 42.65%Net margin, FY2025: 20.20%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 85.64%. Gross margin FY2022 163.43%. Gross margin FY2023 85.41%. Gross margin FY2024 87.37%. Gross margin FY2025 96.18%. Operating margin FY2021 87.32%. Operating margin FY2022 331.31%. Operating margin FY2023 29.55%. Operating margin FY2024 228.10%. Operating margin FY2025 78.84%. Net margin FY2021 67.35%. Net margin FY2022 342.47%. Net margin FY2023 34.25%. Net margin FY2024 42.65%. Net margin FY2025 20.20%.

Income trends

Revenue

875.24M USD+213.02%

Operating income

690.03M USD+8.19%

Net income

176.78M USD+48.24%
Income trends across reported periods985.92M USD543.19M USD100.46M USD−342.26M USDRevenue, FY2021: 488.32M USDRevenue, FY2022: −67.62M USDRevenue, FY2023: 234.05M USDRevenue, FY2024: 279.61M USDRevenue, FY2025: 875.24M USDOperating income, FY2021: 426.42M USDOperating income, FY2022: −224.03M USDOperating income, FY2023: 69.16M USDOperating income, FY2024: 637.79M USDOperating income, FY2025: 690.03M USDNet income, FY2021: 328.87M USDNet income, FY2022: −231.58M USDNet income, FY2023: 80.16M USDNet income, FY2024: 119.25M USDNet income, FY2025: 176.78M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 488.32M USD. Revenue FY2022 −67.62M USD. Revenue FY2023 234.05M USD. Revenue FY2024 279.61M USD. Revenue FY2025 875.24M USD. Operating income FY2021 426.42M USD. Operating income FY2022 −224.03M USD. Operating income FY2023 69.16M USD. Operating income FY2024 637.79M USD. Operating income FY2025 690.03M USD. Net income FY2021 328.87M USD. Net income FY2022 −231.58M USD. Net income FY2023 80.16M USD. Net income FY2024 119.25M USD. Net income FY2025 176.78M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue875.24M USD279.61M USD234.05M USD−67.62M USD488.32M USD
Cost of goods sold33.45M USD35.31M USD34.14M USD42.89M USD44.07M USD
Gross profit841.79M USD244.3M USD199.91M USD−110.52M USD418.19M USD
Research and development—800K USD800K USD800K USD400K USD
Selling, general, and administrative41.74M USD131.91M USD129.95M USD112.72M USD82.72M USD
Operating expenses151.76M USD132.71M USD130.75M USD113.52M USD17.84M USD
Interest income745.06M USD723.97M USD605.6M USD482.42M USD362.3M USD
Interest expense513.98M USD521.23M USD429.12M USD258.84M USD120.39M USD
Depreciation and amortization2.2M USD3.2M USD4.2M USD9.2M USD6.6M USD
Operating income690.03M USD637.79M USD69.16M USD−224.03M USD426.42M USD
Net income176.78M USD119.25M USD80.16M USD−231.58M USD328.87M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 8 misses, 0 met estimates
Average EPS surprise
-7.99%
11 comparable reports
Latest EPS result
0.12
Estimate 0.25 · Miss by 51.10%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.440.320.210.1Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 0.39, estimate 0.395, surprise -1.27%, Miss. Q2 2025, reported May 6, 2025: actual 0.29, estimate 0.319, surprise -9.06%, Miss. Q3 2025, reported Aug 6, 2025: actual 0.24, estimate 0.295, surprise -18.73%, Miss. Q4 2025, reported Nov 6, 2025: actual 0.2, estimate 0.275, surprise -27.17%, Miss. Q1 2026, reported Feb 18, 2026: actual 0.27, estimate 0.269, surprise +0.52%, Beat. Q2 2026, reported May 5, 2026: actual 0.3, estimate 0.311, surprise -3.57%, Miss. Q3 2026, reported Aug 5, 2026: actual 0.12, estimate 0.245, surprise -51.10%, Miss. Q4 2026, reported Nov 11, 2026: actual —, estimate 0.284, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates92.58M77.47M62.35M47.24MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 50.8M USD, estimate 89.02M USD, surprise -42.93%, Miss. Q2 2025, reported May 6, 2025: actual 57.54M USD, estimate 62.39M USD, surprise -7.78%, Miss. Q3 2025, reported Aug 6, 2025: actual 61.28M USD, estimate 63.69M USD, surprise -3.79%, Miss. Q4 2025, reported Nov 6, 2025: actual 56.79M USD, estimate 67.63M USD, surprise -16.03%, Miss. Q1 2026, reported Feb 18, 2026: actual 55.48M USD, estimate 64.34M USD, surprise -13.77%, Miss. Q2 2026, reported May 5, 2026: actual 59.19M USD, estimate 67.52M USD, surprise -12.34%, Miss. Q3 2026, reported Aug 5, 2026: actual 58.57M USD, estimate 65.84M USD, surprise -11.04%, Miss. Q4 2026, reported Nov 11, 2026: actual —, estimate 58.77M USD, surprise —, Comparison unavailable.

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ETFs holding MFAO

Funds reporting this stock among their holdings, ordered by reported position size.

SanJac Alpha Core Plus Bond ETF logoSanJac Alpha Core Plus Bond ETFSJCP
Market value
101.98K
Weight
1.35%
AUM
2.28M USD
Expense ratio
0.65%
Price / 1D
$25.165+0.26%
SanJac Alpha Low Duration ETF logoSanJac Alpha Low Duration ETFSJLD
Market value
100.92K
Weight
3.99%
AUM
1.52M USD
Expense ratio
0.35%
Price / 1D
$25.31+0.80%

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