MFA - NYSE

MFA Financial, Inc.

MFA·NYSE

$9.15

-3.4%

Real EstateREIT - Mortgage

MFA 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.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$934.16M

EPS1.7100

P/E Ratio5.35

Earnings Date07/30/2026

76.25M

Operating Cash Flow

-62%

3Y-79.0%

5Y+99.0%

10Y-11.0%

-1.79B

Investing Cash Flow

321%

3Y+58.0%

5Y-128.0%

10Y-274.0%

1.49B

Financing Cash Flow

343%

3Y+76.0%

5Y-126.0%

10Y-247.0%

MFA Financial, Inc. Cash Conversion Engine

MFA · NYSE

FCF Components

Net Income176.78M

Depreciation & Amortization0.00

Stock-Based Compensation0.00

Change in Working Capital11.85M

Others-112.39M

Capital Expenditures0.00

Free Cash Flow76.25M

Cash Flow Quality Analysis

FCF Conversion Rate

43.1%

Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.

FCF Growth Trend

-61.9%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$11.85M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

MFA Financial, Inc. Cash Flow Statement

MFA • NYSE

MFA Financial, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	176.8M	119.3M	80.2M	-231.6M	328.9M	-679.4M	378.1M	301.8M	322.4M	312.7M	313.2M	313.5M	302.7M	306.8M	316.4M	269.8M	268.2M	45.8M	30.2M	8.8M
Depreciation & Amortization	0.0	0.0	4.2M	-27.3M	6.6M	0.0	3.3M	1.8M	1.5M	964K	860K	1.2M	5.8M	3.5M	2.7M	730K	512K	18.8M	27.7M	31.6M
Change in Deferred Taxes	0.0	0.0	0.0	-10.2M	-16.2M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-543K	11.1M	-21.5M	23.2M	21.3M	22.6M
Stock-Based Compensation	0.0	0.0	15.6M	10.2M	9.6M	0.0	9.2M	8M	8M	9.2M	7.8M	8.6M	4.2M	6.5M	4.4M	3.3M	1.9M	1.4M	511K	539K
Other Non-Cash Items	-112.4M	64.3M	26.7M	597M	-203.2M	728.7M	-159.2M	-137.3M	-144.5M	-117.7M	-94.5M	-96.2M	-34.7M	-3.4M	14.9M	-34.4M	17.9M	98.9M	638K	-5.7M
Change in Working Capital	11.8M	16.6M	-18M	28M	-5.4M	-10.9M	-15.7M	-26.5M	-11.4M	-119.6M	54.7M	28.7M	20M	-3.1M	-3.4M	-4.6M	2.9M	-1.6M	-11.7M	-41.9M
Cash from Operating Activities	76.2M	200.1M	108.7M	366.1M	120.3M	38.4M	215.8M	147.9M	176.1M	85.5M	282.2M	255.8M	298.1M	310.4M	334.4M	245.9M	270M	186.4M	68.7M	15.9M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	(0.0)	-300K	-12M	-4.9M	-1.9M	-1.1M	-872K	-708K	-1.6M	-786K	-373K	-443K	-2.3M	-438K	(12K)	(0.0)	-231K	(0.0)
Acquisitions, Net	(0.0)	(0.0)	(0.0)	(0.0)	(6.1M)	(0.0)	(3.8B)	(338.4M)	(1.6B)	(0.0)	(636.3M)	-34.7M	(0.0)	(0.0)	(0.0)	-915.4M	-808.9M	(0.0)	(231K)	(0.0)
Purchase of Investments	-2.7B	-869.1M	-588.9M	-3.2B	-2.5B	-163.7M	-4.7B	-3.1B	-86.3M	-84.6M	-95.4M	-89.2M	(0.0)	(0.0)	-4.8B	-3.1B	-12K	-5.2B	-4.5B	-4.1B
Sale/Maturity of Investments	46.8M	129.6M	173.9M	68.8M	157.3M	4.4B	908.7M	538.7M	243.1M	3.4B	70.7M	123.9M	574.9M	268.9M	2.4B	4B	2.6B	3.2B	2.5B	3.5B
Other Investing Items	916.7M	314.9M	-1.1B	2B	185.7M	2.1B	-1.1B	107.9M	66.3M	1.1B	-60M	451.8M	1B	-918.8M	11.4M	915.4M	-666K	3.2B	-231K	23.5M
Cash from Investing Activities	-1.8B	-424.6M	-1.5B	-1.1B	-2.2B	(6.4B)	-1.1B	-2.2B	(1.8B)	(1B)	(550.1M)	(451M)	(1.6B)	-650.4M	-2.4B	(915.4M)	(1.8B)	-2B	-2B	-624M
FINANCING ACTIVITIES
Net Issuance of Common Stock	-15.3M	-1.6M	-7K	-101.1M	-83.8M	-43.4M	12.3M	392.5M	197.2M	4.7M	1.2M	35.6M	61.3M	3.3M	607.8M	609K	403.4M	689.8M	308.9M	5M
Net Issuance of Debt	1.7B	550.9M	1.6B	1.2B	1.9B	-5.7B	1.4B	1.6B	-1.7B	-723.7M	-88.3M	-254.1M	-693.5M	807.2M	654.6M	-1.1B	-1.8B	1.5B	1.8B	623.2M
Cash Paid for Dividends	-40.3M	-176.7M	-176M	-216.9M	-189M	-143.3M	-376.6M	-344.8M	-323.6M	-312.9M	-312.4M	-309.7M	-608.6M	-349.4M	-337.4M	-268.4M	-229.7M	-139M	-37.7M	-24.2M
Share Repurchases	-15.3M	-1.6M	-7K	-102.3M	-85.6M	-50.8M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-112.3M	-9.7M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-6.1M
Other Financing Items	-177.1M	-35M	-12.6M	-16.4M	-7.1M	-90.3M	-40M	1.1M	30.4M	14.6M	-450.2M	-561.6M	-597.9M	-113.8M	1.2B	-104.1M	-82.8M	-152.8M	-4.9M	-12.9M
Cash from Financing Activities	1.5B	337.6M	1.4B	850.2M	1.6B	-5.7B	964.9M	1.6B	-1.8B	-1B	-849.7M	-1.1B	-1.7B	347.3M	2.1B	-1.5B	-1.8B	1.9B	2.1B	591M
CASH FLOW SUMMARY
Net Change in Cash	-214.6M	113.1M	-5.9M	89.6M	-417.1M	686.9M	46M	-375M	189.6M	95.1M	-17.4M	-382.9M	164.1M	7.3M	48.8M	-308.2M	292.3M	126.8M	187.2M	-17.1M
Cash at Beginning of Period	601.3M	488.2M	494.1M	404.4M	821.5M	134.7M	88.7M	463.7M	260.1M	165M	182.4M	565.4M	401.3M	394M	345.2M	653.5M	361.2M	234.4M	47.2M	64.3M
Cash at End of Period	386.7M	601.3M	488.2M	494.1M	404.4M	821.5M	134.7M	88.7M	449.8M	260.1M	165M	182.4M	565.4M	401.3M	394M	345.2M	653.5M	361.2M	234.4M	47.2M
Free Cash Flow	76.2M	200.1M	108.7M	365.8M	108.2M	33.5M	213.9M	146.7M	175.2M	84.8M	280.6M	255M	297.7M	309.9M	332.1M	245.5M	270M	186.4M	68.4M	15.9M

SEC Filings

MFA - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
DEF 14A DEF 14A 2026 N/A	April 17, 2026	June 03, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 18, 2026	February 18, 2026	2026	View Filing

Showing 1 to 2 of 2 filings

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