8-K Announcements
6Material company update
May 5, 2026·SEC
Material company update
Feb 18, 2026·SEC
Material company update
Nov 6, 2025·SEC
MFA Financial, Inc. 9.000% Senior Notes(MFAO)Earnings, Financials & Key Ratios
MFAO•NYSE•REIT / Real Estate
$25.40
15.1× P/E·Price updated Jul 7, 2026
AboutMFA Financial, Inc. is a real estate investment trust engaged in the business of investment, on a leveraged basis, in residential mortgage assets including agency mortgage-backed securities, non-agency mortgage-backed securities, and residential whole loans. It operates through the Mortgage-Related Assets and Lima One segments. The Mortgage-Related Assets segment is involved with the remainder of the company’s investments. The Lima One segment refers to the stand-alone mortgage origination and servicing business of Lima One. The company was founded by Stewart Zimmerman on July 24, 1997, and is headquartered in New York, NY.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%
MFAO Price & Volume
MFA Financial, Inc. 9.000% Senior Notes (MFAO) stock price & volume — 10-year historical chart
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Aggressive Debt Financing Masks Core Earnings Volatility
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's dividend payout ratio relative to FFO has reached as high as 1.49 in 2024Q1
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:High Financial Leverage Exposure
Key Thesis Takeaways
- MFA Financial's pivot toward the Lima One origination platform has driven significant revenue growth, yet this expansion is heavily reliant on a 6.01x debt-to-equity ratio that amplifies market sensitivity.
- The firm's core earnings remain inconsistent, as evidenced by FFO per share fluctuations between $0.32 and $0.51 over recent quarters, complicating long-term dividend sustainability.
- Investors should remain cautious as the company's reliance on repo financing and lack of clear capital expenditure reporting obscures the true cost of maintaining its operational platform.
Verdict Logic
indicating that distributions are not consistently supported by core earnings in periods of market stress.
MFAO Growth Metrics
MFA Financial, Inc. 9.000% Senior Notes (MFAO) 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%
MFAO Recent Earnings
MFA Financial, Inc. 9.000% Senior Notes (MFAO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/5 qtrs (80%)●Beat Revenue 3/5 qtrs (60%)
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
$0.46+66.4%
$0.27
Rev
$223M+230.0%
$68M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.31+6.1%
$0.30
Rev
$170M+167.5%
$64M
| 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 | $0.46vs $0.27+66.4% | $223Mvs $68M+230.0% |
| Q3 2025 | Aug 6, 2025 | $0.31vs $0.30+6.1% | $170Mvs $64M+167.5% |
Based on last 5 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for MFA Financial, Inc. 9.000% Senior Notes (MFAO)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.40 | $2.58B | 15.12 | 213.02% | 20.2% | 9.64% | 7.05% | |
| $9.36 | $955.6M | 5.57 | 213.02% | 20.7% | 7.43% | — | |
| $7.71 | $244.68M | 8.57 | 14.4% | 6.82% | 6.11% | — | |
| $1.44 | $69M | -1.24 | 187.77% | -30.49% | -7.1% | — | |
| $17.15 | $2.89B | 26.80 | -13.96% | 6.75% | 2.93% | — | |
| $1.68 | $277.57M | -1.17 | 1725.96% | -290.69% | -29.57% | — |
Compare MFAO vs Peers
MFA Financial, Inc. 9.000% Senior Notes (MFAO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MFAO SEC Filings & Documents
MFA Financial, Inc. 9.000% Senior Notes (MFAO) SEC filings — annual & quarterly reports (10-K, 10-Q)
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MFAO Frequently Asked Questions
MFA Financial, Inc. 9.000% Senior Notes (MFAO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MFA Financial, Inc. 9.000% Senior Notes's revenue?
MFA Financial, Inc. 9.000% Senior Notes (MFAO) 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. 9.000% Senior Notes growing?
MFA Financial, Inc. 9.000% Senior Notes (MFAO) grew revenue by 213.0% over the past year. This is strong growth.
Is MFAO profitable?
Yes, MFA Financial, Inc. 9.000% Senior Notes (MFAO) is profitable, generating $134.6M in net income for fiscal year 2025 (20.2% net margin).
Dividend & Returns
Does MFAO pay dividends?
Yes, MFA Financial, Inc. 9.000% Senior Notes (MFAO) pays a dividend with a yield of 7.05%. This makes it attractive for income-focused investors.
What is MFAO's return on equity?
MFA Financial, Inc. 9.000% Senior Notes (MFAO) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.
Industry Metrics
What is MFA Financial, Inc. 9.000% Senior Notes's FFO?
MFA Financial, Inc. 9.000% Senior Notes (MFAO) generated Funds From Operations (FFO) of $181.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Is MFAO a good dividend stock?
MFA Financial, Inc. 9.000% Senior Notes (MFAO) offers a 7.05% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.