MFA FINANCIAL, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Interest expense | — | — | $429.1M | $258.8M | $120.4M |
| Pretax income | $176.0M | $119.7M | $80.4M | -$232.4M | — |
| Income tax expense | -$735,000 | $443,000 | $278,000 | -$851,000 | $2.7M |
| Net income | $176.8M | $119.3M | $80.2M | -$231.6M | $328.9M |
| Balance Sheet | |||||
| Cash and equivalents | $213.2M | $338.9M | $318.0M | $334.2M | $304.7M |
| Total assets | $13.0B | $11.4B | $10.8B | $9.1B | $9.1B |
| Total liabilities | $11.2B | $9.6B | $8.9B | $7.1B | $6.6B |
| Stockholders' equity | $1.8B | $1.8B | $1.9B | $2.0B | $2.5B |
| Cash Flow Statement | |||||
| Cash from operations | $76.2M | $200.1M | $108.7M | $355.3M | $137.8M |
| Stock-based compensation | $12.1M | $13.9M | $15.0M | $11.3M | $9.0M |
| Capital expenditure | — | — | — | $300,000 | $12.0M |
| Free cash flow | — | — | — | $355.0M | $125.8M |
| Dividends paid | $148.2M | $143.9M | $143.1M | $184.0M | $156.1M |
| Share repurchases | $15.3M | $1.5M | $0 | $102.3M | $85.6M |
Shares outstanding 101.6M · Free float 88.0%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.