MFA Financial Inc MFA Stock Analysis
- NYSE
- Stock
- Market closed · opens Monday 9:30 AM ET
$6.21 down $0.34, 5.19% at close Nov 6
Last close · Previous close $6.55
- Market cap
- $630.91MAt the Nov 6 close
- P/E ratio
- 6.15On last 12 months’ EPS
- Diluted EPS
- $1.01Last 12 months
- Dividend yield
- 23.19%Last 12 months
Price chart
$6.21down $0.34, 5.19%Fri, Nov 6 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$6.55Nov 5
- Volume3.87MNov 6 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume2.87MLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $6.21 to $10.43; now $6.21
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the Nov 6 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
MFA trailed the S&P 500 in all 7 periods.
| Period | MFA and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | MFA: down 14.7% S&P 500: down 5.6% | MFA trailed the S&P 500 by 9.1 percentage points Trailed |
| 3M | MFA: down 28.0% S&P 500: down 4.1% | MFA trailed the S&P 500 by 23.9 percentage points Trailed |
| YTD | MFA: down 24.7% S&P 500: up 8.7% | MFA trailed the S&P 500 by 33.4 percentage points Trailed |
| 1Y | MFA: down 18.8% S&P 500: up 10.9% | MFA trailed the S&P 500 by 29.7 percentage points Trailed |
| Long term | ||
| 3Y | MFA: down 3.3% S&P 500: up 75.0% −1.1% vs +20.5% a year | MFA trailed the S&P 500 by 78.3 percentage points Trailed |
| 5Y | MFA: down 32.5% S&P 500: up 67.8% −7.6% vs +10.9% a year | MFA trailed the S&P 500 by 100.3 percentage points Trailed |
| 10Y | MFA: down 25.6% S&P 500: up 313.1% −2.9% vs +15.2% a year | MFA trailed the S&P 500 by 338.7 percentage points Trailed |
$10,000 invested in MFA 10 years ago (Nov 4, 2016) would be worth about $7,443 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,313.
MFA trailed the S&P 500 in all 7 periods.
| Period | MFA and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | MFA: down 14.7% S&P 500: down 5.6% | MFA trailed the S&P 500 by 9.1 percentage points Trailed |
| 3M | MFA: down 31.4% S&P 500: down 4.3% | MFA trailed the S&P 500 by 27.1 percentage points Trailed |
| YTD | MFA: down 33.3% S&P 500: up 7.8% | MFA trailed the S&P 500 by 41.1 percentage points Trailed |
| 1Y | MFA: down 30.8% S&P 500: up 9.7% | MFA trailed the S&P 500 by 40.5 percentage points Trailed |
| Long term | ||
| 3Y | MFA: down 36.7% S&P 500: up 68.8% −14.1% vs +19.1% a year | MFA trailed the S&P 500 by 105.5 percentage points Trailed |
| 5Y | MFA: down 66.6% S&P 500: up 56.9% −19.7% vs +9.4% a year | MFA trailed the S&P 500 by 123.5 percentage points Trailed |
| 10Y | MFA: down 79.0% S&P 500: up 252.6% −14.4% vs +13.4% a year | MFA trailed the S&P 500 by 331.6 percentage points Trailed |
$10,000 invested in MFA 10 years ago (Nov 4, 2016) would be worth about $2,104 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,257.
All-time high
$43.40
Closing high on . Now 85.7% below that record.
Split-adjusted daily closes since Apr 13, 1998.
Stock splits
1
1-for-4 on . Share counts adjust after each split.
Valuation
The Nov 6 close compared with the last 12 months of reported results (the four quarters to Jun 30, 2026). Tap a metric to see how it’s calculated.
Price-to-earnings (P/E)
6.1×The Nov 6 close ÷ diluted EPS over the last 12 months ($1.01)
The range covers daily P/E ratios from Oct 28, 2021 to Nov 6, 2026, each based on the previous 12 months of earnings.
MFA trades at 6.1× its earnings over the last 12 months, below its 5-year median of 10.2×. In plain terms, buyers are paying about $6 for each $1 of profit from the past year. How to read P/E
Other valuation measures
- 2.0×Last 12 months’ revenue
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratio - 0.4×Book value as of Jun 30, 2026
Price relative to accounting equity (book value) per share on the Jun 30, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratio - 80.8×Last 12 months’ EBITDA
Enterprise value divided by EBITDA over the last 12 months. It compares companies with different amounts of debt.
EV/EBITDA = Enterprise value ÷ EBITDA (last 12 months)EV/EBITDA explained - 0.42Last 12 months’ EPS growth
The P/E divided by the growth in diluted EPS over the last 12 months (+14.8% on the 12 months before). It looks backward: near 1 means the P/E roughly matches last year’s growth. Sites that use analysts’ growth forecasts show a different PEG.
PEG = P/E ÷ EPS growth (%) = 6.1 ÷ 14.8 - 39.98%Last 12 months’ free cash flow
Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flow - $11.97BAt the Nov 6 close
What it would cost to buy the whole business: the market cap at the Nov 6 close, plus debt, minus cash and short-term investments from the Jun 30, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explained
Build your own MFA DCF in Excel. Value MFA Financial with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q2 FY26, the quarter ended Jun 30, 2026. “Last 12 months” means the four quarters from Jul 1, 2025 to Jun 30, 2026, and balance-sheet figures are as of Jun 30, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $308.33Mup 6.0%
- Net income
- $148.24Mup 15.4%
- Diluted EPS
- $1.01up 14.8%
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q3 FY24 (Sep 30, 2024) | $92.85M | $48.18M | $0.37 |
| Q4 FY24 (Dec 31, 2024) | $43.30M | $5.91M | −$0.01 |
| Q1 FY25 (Mar 31, 2025) | $81.90M | $41.18M | $0.31 |
| Q2 FY25 (Jun 30, 2025) | $72.74M | $33.18M | $0.21 |
| Q3 FY25 (Sep 30, 2025) | $87.47M | $48.10M | $0.35 |
| Q4 FY25 (Dec 31, 2025) | $88.99M | $54.32M | $0.43 |
| Q1 FY26 (Mar 31, 2026) | $43.55M | −$984.00K | −$0.11 |
| Q2 FY26 (Jun 30, 2026) | $88.32M | $46.80M | $0.34 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $449.06M | $328.87M | Paused See the note under the price. |
| FY22 (Dec 31, 2022) | −$67.62M | −$231.58M | −$2.57 |
| FY23 (Dec 31, 2023) | $248.45M | $80.16M | $0.46 |
| FY24 (Dec 31, 2024) | $290.11M | $119.25M | $0.82 |
| FY25 (Dec 31, 2025) | $331.10M | $176.78M | $1.30 |
Margins
- Gross 100.0%
- Operating 48.0%
- Net 48.1%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- $252.21MLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow$252.21MLast 12 months
- Capital spending$0.00Last 12 months
- 81.8%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $24.33MLast 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$151.46MLast 12 months
- Total returned$175.79MLast 12 months
70% of free cash flow
Balance sheet
- Not reportedAs of Jun 30, 2026
Cash plus short- and long-term marketable securities on the Jun 30, 2026 balance sheet.
- Total debt$11.65BAs of Jun 30, 2026
- 6.56As of Jun 30, 2026
Total debt divided by shareholders’ equity on the Jun 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- 8.2%Last 12 months
Over the last 12 months, MFA Financial’s net income was 8.2% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - 1.1%Last 12 months
Over the last 12 months, MFA Financial’s net income was 1.1% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $3.20 |
| 2017 | $3.20 |
| 2018 | $3.20 |
| 2019 | $3.20 |
| 2020 | $1.30 |
| 2021 | $1.54 |
| 2022 | $1.67 |
| 2023 | $1.40 |
| 2024 | $1.40 |
| 2025 | $1.44 |
| 2026 (to date) | $1.08 |
Dividend details
- $1.44Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- 23.19%; 5-yr low 2.71%, 5-yr high 28.60%Last 12 months
Dividends paid over the last 12 months as a share of the Nov 6 close. The bar shows where that yield sits in its range over the past five years; the median was 13.30%.
- $0.36Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
- FrequencyQuarterly4 payments in the last 12 months
- 1 yearThrough 2025
How many calendar years in a row the full-year amount has risen, through 2025.
- 142.6%Last 12 months
The share of earnings paid out as dividends over the last 12 months. Lower ratios leave more room to reinvest or raise the dividend.
Payout = Dividends per share ÷ Diluted EPS (both last 12 months)Payout ratio calculator
About MFA Financial Inc
MFA Financial, Inc. is a leading specialty finance company that invests in residential mortgage loans, residential mortgage-backed securities and other real estate assets. Through its wholly-owned subsidiary, Lima One Capital, MFA also originates and services business purpose loans for real estate investors. MFA has distributed $4.9 billion in dividends to stockholders since its initial public offering in 1998. MFA is an internally-managed, publicly-traded real estate investment trust. The following table presents MFA’s asset allocation as of March 31, 2025, and the first quarter 2025 yield on average interest-earning assets, average cost of funds and net interest rate spread for the various asset types. Table 1 - Asset Allocation The following table presents the activity for our residential mortgage asset portfolio for the three months ended March 31, 2025: Table 2 - Investment Portfolio Activity Q1 2025 The following tables present information on our investments in residential whole loans: Table 3 - Portfolio Composition/Residential Whole Loans Table 4 - Yields and Average Balances/Residential Whole Loans Table 5 - Net Interest Spread/Residential Whole Loans Table 6 - Credit-related Metrics/Residential Whole Loans March 31, 2025 Table 7 - Shock Table The information presented in the following “Shock Table” projects the potential impact of sudden parallel changes in interest rates on our portfolio, including the impact of Swaps and securitized debt and other fixed rate debt, based on the assets in our investment portfolio as of March 31, 2025. All changes in value are measured as the percentage change from the projected portfolio value under the base interest rate scenario as of March 31, 2025. MFA FINANCIAL, INC. CONSOLIDATED BALANCE SHEETS MFA FINANCIAL, INC. CONSOLIDATED STATEMENTS OF OPERATIONS Segment Reporting At March 31, 2025, the Company’s reportable segments include (i) mortgage-related assets and (ii) Lima One. The Corporate column in the table below primarily consists of corporate cash and related interest income, investments in loan originators and related economics, general and administrative expenses not directly attributable to Lima One, interest expense on unsecured convertible senior notes, securitization issuance costs, and preferred stock dividends. The following tables summarize segment financial information, which in total reconciles to the same data for the Company as a whole: Reconciliation of GAAP Net Income to non-GAAP Distributable Earnings “Distributable earnings” is a non-GAAP financial measure of our operating performance, within the meaning of Regulation G and Item 10(e) of Regulation S-K, as promulgated by the Securities and Exchange Commission. Distributable earnings is determined by adjusting GAAP net income/(loss) by removing certain unrealized gains and losses, primarily on residential mortgage investments, associated debt, and hedges that are, in each case, accounted for at fair value through earnings, certain realized gains and losses, as well as certain non-cash expenses and securitization-related transaction costs. Realized gains and losses arising from loans sold to third-parties by Lima One shortly after the origination of such loans are included in Distributable earnings. The transaction costs are primarily comprised of costs only incurred at the time of execution of our securitizations and include costs such as underwriting fees, legal fees, diligence fees, bank fees and other similar transaction related expenses. These costs are all incurred prior to or at the execution of our securitizations and do not recur. Recurring expenses, such as servicing fees, custodial fees, trustee fees and other similar ongoing fees are not excluded from Distributable earnings. Management believes that the adjustments made to GAAP earnings result in the removal of (i) income or expenses that are not reflective of the longer term performance of our investment portfolio, (ii) certain non-cash expenses…
- Sector
- Financial Services
- Industry
- REIT - Mortgage
- Headquarters
- New York, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- NYSE
- Asset type
- Common stock
- Price history since
MFA news
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MFA stock FAQ
What is MFA stock’s price today?
MFA Financial (MFA) traded at $6.21 at the close on , down $0.34 (5.19%) from the previous close of $6.55. Over the past 52 weeks it has traded between $6.21 and $10.43.
If you invested $1,000 in MFA 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in MFA on would be worth about $744 at the close on , a total return of −25.6%. The same $1,000 would be worth $675 if invested five years ago, $812 if invested one year ago, and $2,475 if invested 20 years ago. Past performance doesn’t predict future returns.
What is MFA Financial’s market cap?
MFA Financial’s market capitalization is about $630.9 million. That’s Tiingo’s daily market cap for , at that day’s closing price of $6.21 (how market cap works). MFA Financial reported 101.60M shares outstanding at the end of its latest quarter ().
What is MFA’s P/E ratio?
MFA trades at 6.1 times its diluted earnings over the four quarters to ($1.01 per share), at the close. Over the past five years its P/E has ranged from 5.8 to 25.1, with a median of 10.2. (How the P/E ratio works.)
How much revenue does MFA Financial make?
MFA Financial reported $308.3 million of revenue over the four quarters to , up 6.0% from the twelve months before. In its latest quarter (Q2 FY26, ended ) revenue was $88.3 million, up 21.4% from a year earlier.
Is MFA Financial profitable?
Yes. MFA Financial earned $148.2 million of net income over the four quarters to , a net margin of 48.1%, and its operating margin was 48.0% (what margins tell you).
What are MFA’s earnings per share?
MFA’s diluted earnings per share were $1.01 over the four quarters to , compared with $0.88 in the twelve months before. The latest quarter (Q2 FY26) brought $0.34 per share, against $0.21 a year earlier (how EPS works).
Does MFA pay a dividend?
Yes. MFA Financial pays a quarterly dividend. The most recent was $0.36 per share, with an ex-dividend date of . Over the last twelve months it paid $1.44 per share, a 23.19% yield at the close (how dividend yield works).
Based on the last 12 months’ payments ($1.44 per share), and if the next 12 months match the last 12, 100 shares would receive about $144 over 12 months, and $1,000 over 12 months would take about 695 shares, roughly $4,316 at the close. Dividends can change.
What is MFA’s 52-week high and low?
Over the past 52 weeks MFA has traded as low as $6.21 and as high as $10.43. At $6.21 at the close on , it is 40.5% below that high and 0.0% above the low.
What is MFA’s all-time high?
MFA’s highest closing price was $43.40 on , adjusted for stock splits. At $6.21 at the close on , it is 85.7% below that record.
Has MFA stock ever split?
Yes, once: 1-for-4 on .
How has MFA stock performed?
Including dividends and measured to the close on , MFA has returned −24.7% so far this year and −18.8% over the past year, and −32.5% over five years (−7.6% a year). Over the same periods the S&P 500, measured by SPY, returned +8.7%, +10.9% and +67.8%. Past performance doesn’t predict future returns.
What sector and industry is MFA Financial in?
MFA Financial is in the Financial Services sector and the REIT - Mortgage industry, and is headquartered in New York, USA.
What exchange does MFA trade on?
MFA Financial trades on the NYSE under the ticker symbol MFA. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
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