Growth & profitability
- Free cash flow has grown 15.1% per year over the past 5 years.
Shareholder returns
- Dividends have been paid for 15 consecutive years, consuming 83.8% of earnings.
- The dividend has grown 5.5% per year over the past 5 years.
MFA Financials Mfa Financial, Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | $177M | — | — | 9.7% | 1.4% | — | — | $213M |
| 2024 | — | $119M | — | — | 6.5% | 1.0% | — | — | $339M |
| 2023 | — | $80M | — | — | 4.2% | 0.7% | — | — | $318M |
| 2022 | — | -$232M | — | — | -11.6% | -2.5% | $355M | — | $334M |
| 2021 | — | $329M | — | — | 12.9% | 3.6% | $126M | — | $305M |
| 2020 | — | -$679M | — | — | -26.9% | -9.8% | $34M | — | $814M |
| 2019 | — | $378M | — | — | 11.2% | 2.8% | $214M | — | $71M |
| 2018 | — | $302M | — | — | 8.8% | 2.4% | $147M | — | $52M |
| 2017 | — | $322M | — | — | 9.9% | 2.9% | $176M | — | $450M |
| 2016 | — | $313M | — | — | 10.3% | 2.5% | — | — | $260M |
| 2015 | — | $313M | — | — | 10.6% | 2.4% | — | — | $165M |
| 2014 | — | $314M | — | — | 9.8% | 2.5% | — | — | $182M |
| 2013 | — | $303M | — | — | 9.6% | 2.4% | — | — | $565M |
| 2012 | — | $307M | — | — | 9.3% | 2.3% | — | — | $401M |
| 2011 | — | $316M | — | — | 12.7% | 2.7% | — | — | $394M |
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | — | $47M | — | — | 2.6% | 0.3% | — | — | $141M |
| Mar '26 | — | -$984000 | — | — | -0.1% | -0.0% | — | — | $222M |
| Dec '25 | — | $54M | — | — | 3.0% | 0.4% | — | — | $213M |
| Sep '25 | — | $48M | — | — | 2.6% | 0.4% | — | — | $305M |
| Jun '25 | — | $33M | — | — | 1.8% | 0.3% | — | — | $276M |
| Mar '25 | — | $41M | — | — | 2.2% | 0.4% | — | — | $254M |
| Dec '24 | — | $6M | — | — | 0.3% | 0.1% | — | — | $339M |
| Sep '24 | — | $48M | — | — | 2.6% | 0.4% | — | — | $306M |
| Jun '24 | — | $42M | — | — | 2.2% | 0.4% | — | — | $289M |
| Mar '24 | — | $23M | — | — | 1.2% | 0.2% | — | — | $306M |
| Dec '23 | — | $90M | — | — | 4.7% | 0.8% | — | — | $318M |
| Sep '23 | — | -$56M | — | — | -3.1% | -0.6% | — | — | $300M |
| Jun '23 | — | -$26M | — | — | -1.3% | -0.3% | — | — | $329M |
| Mar '23 | — | $73M | — | — | 3.6% | 0.8% | -$9M | — | $362M |
| Dec '22 | — | $7M | — | — | 0.3% | 0.1% | $8M | — | $334M |
| Sep '22 | — | -$55M | — | — | -2.7% | -0.6% | $136M | — | $434M |
| Jun '22 | — | -$100M | — | — | -4.7% | -1.1% | $79M | — | $386M |
| Mar '22 | — | -$83M | — | — | -3.5% | -0.8% | $133M | — | $411M |
| Dec '21 | — | $44M | — | — | 1.7% | 0.5% | $50M | — | $305M |
| Sep '21 | — | $133M | — | — | 5.1% | 1.6% | $5M | — | $526M |
Valuation over time
How the market has priced MFA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 13.9× (Jan '24) to 5.1× (Sep '26).
- The dividend yield has fallen from 18.4% (Mar '23) to 16.5% (Sep '26).
P/E
Dividend yield %
Frequently asked questions
Is MFA growing its revenue and profit?
See the revenue and net-income charts above for Mfa Financial, Inc.'s multi-year trend.
How much debt does MFA have?
As of FY2025, Mfa Financial, Inc. reported — of total debt against $213M of cash.
What is MFA's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is MFA's P/E ratio?
As of Sep '26, Mfa Financial, Inc. traded at a price-to-earnings ratio of about 5.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.