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6Material company update
May 5, 2026·SEC
Material company update
Feb 18, 2026·SEC
Material company update
Nov 6, 2025·SEC
MFA Financial, Inc.(MFA)Earnings, Financials & Key Ratios
MFA•NYSE•REIT / Real Estate
$9.69
5.8× P/E·Price updated Jun 30, 2026
AboutMFA Financial, Inc., together with its subsidiaries, operates as a real estate investment trust (REIT) in the United States. The company invests in residential mortgage assets, including non-agency mortgage-backed securities (MBS), agency MBS, and credit risk transfer securities; residential whole loans, including purchased performing loans, purchased credit deteriorated, and non-performing loans; and mortgage servicing rights related assets. The company has elected to be taxed as a REIT and would not be subject to federal income taxes if it distributes at least 90% of its taxable income to its stockholders. MFA Financial, Inc. was incorporated in 1997 and is headquartered in New York, New York.Show more
- Revenue$875M+213.0%
- FFO$177M+48.2%
- FFO/Share1.68+48.0%
- FFO Payout106.63%-11.6%
- FFO per Share1.68+48.0%
- NOI Margin96.18%+10.1%
- FFO Margin20.2%-52.6%
- ROE9.64%+51.2%
- ROA1.45%+34.5%
MFA Price & Volume
MFA Financial, Inc. (MFA) stock price & volume — 10-year historical chart
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Elevated Leverage Masks Underlying Earnings Volatility Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:High leverage interest sensitivity
Key Thesis Takeaways
- MFA Financial faces a challenging outlook characterized by significant earnings volatility and structural margin compression driven by high wholesale funding costs.
- While the firm maintains a large asset base of $13.0 billion, the reliance on fair value accounting for credit-sensitive assets obscures the true economic risk of its portfolio.
- Investors should remain cautious as the firm's debt-to-equity ratio of 6.01x significantly amplifies sensitivity to interest rate fluctuations and potential liquidity constraints.
Verdict Logic
the firm's high leverage and inconsistent dividend coverage, evidenced by a Div/AFFO ratio reaching 1.49 in 2024Q1, suggest substantial risks to shareholder distributions.
MFA Growth Metrics
MFA Financial, Inc. (MFA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.41%
5 Years-
3 Years-
TTM137.78%
Profit CAGR
10 Years-5.56%
5 Years-
3 Years-
TTM-1.89%
EPS CAGR
10 Years-6.24%
5 Years-
3 Years-
TTM9.26%
Return on Capital
10 Years3.52%
5 Years1.82%
3 Years2.51%
Last Year5.77%
MFA Recent Earnings
MFA Financial, Inc. (MFA) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.30-3.6%
$0.31
Rev
$59M-12.3%
$68M
Q1 2026
Feb 18, 2026Metric
Actual
Est
EPS
$0.27+0.5%
$0.27
Rev
$55M-13.8%
$64M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.20-26.5%
$0.27
Rev
$85M+40.3%
$61M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.24-14.3%
$0.28
Rev
$170M+186.3%
$59M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.30vs $0.31-3.6% | $59Mvs $68M-12.3% |
| Q1 2026 | Feb 18, 2026 | $0.27vs $0.27+0.5% | $55Mvs $64M-13.8% |
| Q4 2025 | Nov 6, 2025 | $0.20vs $0.27-26.5% | $85Mvs $61M+40.3% |
| Q3 2025 | Aug 6, 2025 | $0.24vs $0.28-14.3% | $170Mvs $59M+186.3% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for MFA Financial, Inc. (MFA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $9.69 | $989.29M | 5.77 | 213.02% | 20.2% | 9.64% | 18.47% | |
| $10.90 | $12.51B | 7.42 | -60.79% | 43.6% | 12.7% | — | |
| $22.36 | $16.38B | 7.66 | 5.35% | 31.96% | 14.34% | — | |
| $12.41 | $1.3B | -2.85 | -28.4% | -44.82% | -19.11% | — | |
| $7.92 | $251.35M | 8.80 | 14.4% | 6.82% | 6.11% | — | |
| $4.74 | $593.52M | -7.52 | 356.5% | -7.88% | -9.19% | — |
Compare MFA vs Peers
MFA Financial, Inc. (MFA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MFA SEC Filings & Documents
MFA Financial, Inc. (MFA) SEC filings — annual & quarterly reports (10-K, 10-Q)
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MFA Frequently Asked Questions
MFA Financial, Inc. (MFA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MFA Financial, Inc.'s revenue?
MFA Financial, Inc. (MFA) reported $650.4M in revenue for fiscal year 2025. This represents a 14039% increase from $4.6M in 1998.
How fast is MFA Financial, Inc. growing?
MFA Financial, Inc. (MFA) grew revenue by 213.0% over the past year. This is strong growth.
Is MFA profitable?
Yes, MFA Financial, Inc. (MFA) is profitable, generating $134.6M in net income for fiscal year 2025 (20.2% net margin).
Dividend & Returns
Does MFA pay dividends?
Yes, MFA Financial, Inc. (MFA) pays a dividend with a yield of 18.47%. This makes it attractive for income-focused investors.
What is MFA's return on equity?
MFA Financial, Inc. (MFA) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.
Industry Metrics
What is MFA Financial, Inc.'s FFO?
MFA Financial, Inc. (MFA) generated Funds From Operations (FFO) of $181.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Is MFA a good dividend stock?
MFA Financial, Inc. (MFA) offers a 18.47% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.