Mfa Financial, Inc. (MFA) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Mfa Financial reported revenue of $745.1M, up 2.9% from $724.0M the year before. Net income was $176.8M (a 23.7% net margin), or $1.30 per diluted share. Gross margin was 79.2% and operating margin was 79.2%. Operating activities generated $76.2M of cash. At fiscal year end, Mfa Financial held $13.05B in total assets against $11.22B in total liabilities, including $213.2M of cash and equivalents.
Open the full interactive Mfa Financial financials → Quarterly statements, key ratios, valuation history and price charts.
Mfa Financial Key Stats
| Share Price | $6.70 |
|---|---|
| Market Cap | $706.4M |
| P/E Ratio | 5.2 |
| Revenue YoY Growth | +2.9% |
| 52-Week Range | $6.68 – $9.54 |
| Shares Outstanding | 103.7 million (basic, 2026 Q2) |
Mfa Financial Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $359.4M | $362.3M | $482.4M | $605.6M | $724.0M | $745.1M |
| Cost of Goods Sold | $141.5M | $123.0M | $164.6M | $168.3M | $170.4M | $155.1M |
| Gross Profit | $217.9M | $239.3M | $317.8M | $437.3M | $553.6M | $590.0M |
| Operating Income | $217.9M | $239.3M | $205.2M | $437.3M | $553.6M | $590.0M |
| Pre-Tax Income | -$679.4M | $331.5M | -$232.4M | $80.4M | $119.7M | $176.0M |
| Income Tax | $0 | $2.7M | -$851,000 | $278,000 | $443,000 | -$735,000 |
| Net Income | -$679.4M | $328.9M | -$231.6M | $80.2M | $119.3M | $176.8M |
| Diluted EPS | -$6.28 | $2.64 | -$2.57 | $0.46 | $0.82 | $1.30 |
Mfa Financial Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $185.8M | $190.4M | $191.9M | $196.8M |
| Net Income | $48.1M | $54.3M | -$984,000 | $46.8M |
| Diluted EPS | $0.35 | $0.52 | -$0.11 | $0.34 |
Mfa Financial Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $814.4M | $304.7M | $334.2M | $318.0M | $338.9M | $213.2M |
| Total Assets | $6.93B | $9.14B | $9.11B | $10.77B | $11.41B | $13.05B |
| Total Liabilities | $4.41B | $6.60B | $7.12B | $8.87B | $9.57B | $11.22B |
| Shareholders' Equity | $2.52B | $2.54B | $1.99B | $1.90B | $1.84B | $1.83B |
Mfa Financial Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $38.4M | $120.3M | $366.1M | $108.7M | $200.1M | $76.2M |
| Cash From Investing | $6.38B | -$2.17B | -$1.13B | -$1.55B | -$424.6M | -$1.79B |
| Cash From Financing | -$5.74B | $1.63B | $850.2M | $1.43B | $337.6M | $1.49B |
| Free Cash Flow | $33.5M | $108.2M | $365.8M | — | — | — |
Figures from Mfa Financial's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Mfa Financial financials page for every line item.
Mfa Financial Company Profile
| Ticker | MFA |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | New York, New York |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001055160 |
Frequently Asked Questions
What was Mfa Financial's revenue in fiscal 2025?
Mfa Financial (MFA) reported revenue of $745.1M for fiscal 2025.
What is Mfa Financial's annual revenue history?
Mfa Financial's annual revenue by fiscal year: 2020: $359.4M; 2021: $362.3M; 2022: $482.4M; 2023: $605.6M; 2024: $724.0M; 2025: $745.1M.
What was Mfa Financial's net income in fiscal 2025?
Mfa Financial reported net income of $176.8M for fiscal 2025.
What was Mfa Financial's earnings per share (EPS) in fiscal 2025?
Mfa Financial's diluted EPS was $1.30 for fiscal 2025 (adjusted for any later stock splits).
What was Mfa Financial's revenue last quarter?
In its most recent reported quarter (2026 Q2), Mfa Financial reported revenue of $196.8M.
How many shares of Mfa Financial are outstanding?
Mfa Financial reported a weighted average of 103.7 million basic shares outstanding in 2026 Q2.
What is Mfa Financial's market cap?
Based on its latest closing price, Mfa Financial (MFA) has a market capitalization of about $706.4M.
When does Mfa Financial's fiscal year end?
Mfa Financial's fiscal year end, as registered with the SEC, is December 31.
Where is Mfa Financial headquartered?
Mfa Financial lists its business address in New York, New York in its SEC filings.