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MidCap Financial Investment Corporation(MFIC)Earnings, Financials & Key Ratios
MFIC•NASDAQ
$9.98
14.7× P/E·Price updated Jul 7, 2026
AboutApollo Investment Corporation is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies. It provides direct equity capital, mezzanine, first lien secured loans, stretch senior loans, unitranche loans, second lien secured loans and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products. It prefers to invest in preferred equity, common equity / interests and warrants and makes equity co-investments. It may invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. It also focuses on other investments such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). The fund typically invests in construction and building materials, business services, plastics & rubber, advertising, capital equipment, education, cable television, chemicals, consumer products/goods durable and non-durable and customer services, direct marketing, energy oil & gas, electricity and utilities. The fund also invest in aerospace & defense, wholesale, telecommunications, financial services, hotel, gaming, leisure, restaurants; environmental industries, healthcare and pharmaceuticals, high tech industries, beverages, food and tobacco, manufacturing, media diversified & production, printing and publishing, retail, automation, aviation and consumer transport, transportation, cargo and distribution. It primarily invests in United States. It primarily invests between $20 million and $250 million in its portfolio companies. The fund seeks to make investments with stated maturities of five to 10 years.Show more
- EBITDA$190M+92.5%
- Net Income$63M-36.1%
- EPS (Diluted)0.68-46.5%
- Gross Margin83.4%+71.0%
- EBITDA Margin69.33%+58.8%
- Operating Margin71.64%+64.1%
- Net Margin23.02%-47.3%
- ROE4.66%-43.2%
MFIC Price & Volume
MidCap Financial Investment Corporation (MFIC) stock price & volume — 10-year historical chart
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Persistent Earnings Volatility Masks Structural Credit Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Portfolio credit quality volatility
Key Thesis Takeaways
- MidCap Financial Investment Corporation faces a challenging outlook characterized by erratic earnings and a reliance on leverage to sustain shareholder distributions.
- While the firm maintains a significant 15.3% dividend yield, the persistent $1.3 billion deficit in retained earnings and high sensitivity to non-cash valuation adjustments suggest fundamental instability.
- Investors should monitor the company's ability to transition its portfolio effectively, as the 193.8% decline in 2026Q1 EPS highlights significant exposure to legacy asset performance.
Verdict Logic
while the 15.3% dividend yield is attractive, the extreme volatility in the OCF/NI ratio, which reached 6.06 in 2025Q3, suggests that cash generation is too unstable to support a long-term buy thesis.
MFIC Growth Metrics
MidCap Financial Investment Corporation (MFIC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.32%
5 Years8.54%
3 Years24.71%
TTM-
Profit CAGR
10 Years-
5 Years-10.8%
3 Years27.35%
TTM-68.32%
EPS CAGR
10 Years-
5 Years-16.84%
3 Years13.1%
TTM-97.06%
Return on Capital
10 Years3.61%
5 Years4.36%
3 Years4.81%
Last Year6.17%
MFIC Recent Earnings
MidCap Financial Investment Corporation (MFIC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.38+5.6%
$0.36
Rev
$72M-3.7%
$75M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.39+5.4%
$0.37
Rev
$78M-0.7%
$79M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.38+0.0%
$0.38
Rev
$64M-19.4%
$79M
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$0.39+5.4%
$0.37
Rev
$53M-35.4%
$82M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.38vs $0.36+5.6% | $72Mvs $75M-3.7% |
| Q1 2026 | Feb 26, 2026 | $0.39vs $0.37+5.4% | $78Mvs $79M-0.7% |
| Q4 2025 | Nov 6, 2025 | $0.38vs $0.38+0.0% | $64Mvs $79M-19.4% |
| Q3 2025 | Aug 11, 2025 | $0.39vs $0.37+5.4% | $53Mvs $82M-35.4% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for MidCap Financial Investment Corporation (MFIC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $9.98 | $920.27M | 14.68 | 21.25% | 23.02% | 4.66% | 15.21% | |
| $18.47 | $13.26B | 9.93 | 32.87% | 43.69% | 8.11% | — | |
| $4.90 | $991.12M | 6.45 | -18.64% | — | — | — | |
| $12.75 | $3.32B | 8.98 | 42.5% | 26.91% | 5.24% | — | |
| $10.83 | $5.38B | 8.73 | 52.55% | 27.51% | 4.83% | — | |
| $4.75 | $192.85M | 3.89 | 36.55% | -19.55% | -3.39% | — |
Compare MFIC vs Peers
MidCap Financial Investment Corporation (MFIC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MFIC SEC Filings & Documents
MidCap Financial Investment Corporation (MFIC) SEC filings — annual & quarterly reports (10-K, 10-Q)
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MFIC Frequently Asked Questions
MidCap Financial Investment Corporation (MFIC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MidCap Financial Investment Corporation's revenue?
MidCap Financial Investment Corporation (MFIC) reported $181.7M in revenue for fiscal year 2025.
How fast is MidCap Financial Investment Corporation growing?
MidCap Financial Investment Corporation (MFIC) grew revenue by 21.2% over the past year. This is strong growth.
Is MFIC profitable?
Yes, MidCap Financial Investment Corporation (MFIC) is profitable, generating $32.8M in net income for fiscal year 2025 (23.0% net margin).
Dividend & Returns
Does MFIC pay dividends?
Yes, MidCap Financial Investment Corporation (MFIC) pays a dividend with a yield of 15.21%. This makes it attractive for income-focused investors.
What is MFIC's return on equity?
MidCap Financial Investment Corporation (MFIC) has a return on equity (ROE) of 4.7%. This is below average, suggesting room for improvement.
What is MidCap Financial Investment Corporation's free cash flow?
MidCap Financial Investment Corporation (MFIC) generated $271.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.