MFA Financial Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MFA Financial Inc reported net income of $176.8M (+48.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Residential whole loans | $605.6M | $633.6M | $537.9M | $441.2M |
| Securities, at fair value | $121.3M | $61.1M | $42.4M | $28.9M |
| Other interest-earning assets | $2.0M | $7.1M | $9.0M | $7.4M |
| Cash and cash equivalent investments | $16.2M | $22.2M | $16.3M | $4.8M |
| Interest Income | $745.1M | $724.0M | $605.6M | $482.4M |
| Asset-backed and other collateralized financing arrangements | $495.5M | $500.0M | $413.5M | $243.1M |
| Other interest expense | $18.4M | $21.2M | $15.6M | $15.8M |
| Interest Expense | $514.0M | $521.2M | $429.1M | $258.8M |
| Net Interest Income | $231.1M | $202.7M | $176.5M | $223.6M |
| Reversal/(Provision) for Credit Losses on Residential Whole Loans | ($936.0K) | $3.1M | $8.9M | $2.6M |
| Reversal/(Provision) for Credit Losses on Other Assets | $0 | ($1.1M) | $0 | ($28.6M) |
| Net Interest Income after Reversal/(Provision) for Credit Losses | $230.1M | $204.7M | $185.3M | $197.6M |
| Net gain/(loss) on residential whole loans measured at fair value through earnings | $133.7M | $46.0M | $89.8M | — |
| Impairment and other net gain/(loss) on securities and other portfolio investments | $61.5M | ($10.9M) | $6.2M | — |
| Net gain/(loss) on real estate owned | ($6.8M) | $3.1M | $9.4M | $25.4M |
| Net gain/(loss) on derivatives used for risk management purposes | ($35.5M) | $78.5M | $3.8M | $255.2M |
| Net gain/(loss) on securitized debt measured at fair value through earnings | ($55.2M) | ($64.8M) | ($99.6M) | $290.6M |
| Lima One mortgage banking income | $22.8M | $32.9M | — | — |
| Net realized gain/(loss) on residential whole loans held at carrying value | ($882.0K) | $418.0K | ($1.2M) | $0 |
| Other, net | ($18.7M) | $115.0K | $11.3M | $9.3M |
| Other Income/(Loss), net | $101.0M | $85.4M | $63.1M | ($264.6M) |
| Compensation and benefits | $77.7M | $87.7M | $85.8M | $76.7M |
| Other general and administrative expense | $41.7M | $44.3M | $44.1M | $35.8M |
| Loan servicing, financing and other related costs | $33.4M | $35.3M | $34.1M | $42.9M |
| Amortization of intangible assets | $2.2M | $3.2M | $4.2M | $9.2M |
| Operating and Other Expense | $155.1M | $170.4M | $168.3M | $164.6M |
| Income/(loss) before income taxes | $176.0M | $119.7M | — | — |
| Provision for/(benefit from) income taxes | ($735.0K) | $443.0K | — | — |
| Net Income/(Loss) | $176.8M | $119.3M | $80.2M | ($231.6M) |
| Less Preferred Stock Dividend Requirement | $40.3M | $32.9M | $32.9M | $32.9M |
| Net Income/(Loss) Available to Common Stock and Participating Securities | $136.5M | $86.4M | $47.3M | ($264.5M) |
| Basic Earnings/(Loss) per Common Share (in dollars per share) | $1.31 | $0.83 | $0.46 | -$2.57 |
| Diluted Earnings/(Loss) per Common Share (in dollars per share) | $1.30 | $0.82 | $0.46 | -$2.57 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Residential whole loans | $141.0M | $143.1M | $153.3M | $154.6M |
| Securities, at fair value | $52.8M | $45.8M | $27.7M | $28.8M |
| Other interest-earning assets | $481.0K | $491.0K | $515.0K | $528.0K |
| Cash and cash equivalent investments | $2.6M | $2.6M | $4.3M | $4.5M |
| Interest Income | $196.8M | $191.9M | $185.8M | $188.3M |
| Asset-backed and other collateralized financing arrangements | $133.2M | $127.8M | $124.4M | $122.5M |
| Other interest expense | $5.0M | $4.9M | $4.6M | $4.5M |
| Interest Expense | $138.2M | $132.7M | $129.0M | $127.1M |
| Net Interest Income | $58.6M | $59.2M | $56.8M | $61.3M |
| Reversal/(Provision) for Credit Losses on Residential Whole Loans | $62.0K | $242.0K | ($276.0K) | ($791.0K) |
| Reversal/(Provision) for Credit Losses on Other Assets | $0 | $0 | $0 | $0 |
| Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses | $58.6M | $59.4M | $56.5M | $60.5M |
| Net gain/(loss) on residential whole loans measured at fair value through earnings | ($45.5M) | ($34.8M) | $41.3M | $33.6M |
| Impairment and other net gain/(loss) on securities and other portfolio investments | ($3.9M) | ($38.3M) | $18.0M | $6.6M |
| Net gain/(loss) on real estate owned | ($1.5M) | ($3.0M) | $300.0K | ($2.9M) |
| Net gain/(loss) on derivatives | $44.6M | — | — | — |
| Net gain/(loss) on securitized debt measured at fair value through earnings | $25.3M | $19.8M | ($24.6M) | ($7.1M) |
| Lima One mortgage banking income | $8.4M | $7.7M | $5.6M | $6.1M |
| Net realized gain/(loss) on residential whole loans held at carrying value | $0 | $0 | $0 | ($343.0K) |
| Other, net | $2.2M | $1.9M | ($9.8M) | ($5.5M) |
| Other Income/(Loss), net | $29.7M | ($15.9M) | $31.0M | $12.3M |
| Compensation and benefits | $18.0M | $22.2M | $18.2M | $19.3M |
| Other general and administrative expense | $13.2M | $12.2M | $10.8M | $10.6M |
| Loan servicing, financing and other related costs | $10.1M | $9.9M | $10.2M | $8.6M |
| Amortization of intangible assets | $300.0K | $300.0K | $300.0K | $800.0K |
| Operating and Other Expense | $41.5M | $44.5M | $39.5M | $39.3M |
| Income/(loss) before income taxes | $46.8M | ($984.0K) | $48.0M | $33.4M |
| Provision for/(benefit from) income taxes | $0 | $0 | ($101.0K) | $238.0K |
| Net Income/(Loss) | $46.8M | ($984.0K) | $48.1M | $33.2M |
| Less Preferred Stock Dividend Requirement | $10.6M | $10.4M | $10.8M | $10.6M |
| Net Income/(Loss) Available to Common Stock and Participating Securities | $36.2M | ($11.4M) | $37.3M | $22.6M |
| Basic Earnings/(Loss) per Common Share (in dollars per share) | $0.35 | -$0.11 | $0.36 | $0.22 |
| Diluted Earnings/(Loss) per Common Share (in dollars per share) | $0.34 | -$0.11 | $0.35 | $0.21 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Residential whole loans, net ($7,717,007 and $7,511,210 held at fair value, respectively) | $8.8B | $8.8B | $9.0B | $7.5B |
| Securities, at fair value | $3.4B | $1.5B | $746.1M | $333.4M |
| Cash and cash equivalents | $213.2M | $338.9M | $318.0M | $334.2M |
| Restricted cash | $173.5M | $262.4M | $170.2M | $159.9M |
| Other assets | $489.1M | $459.6M | $497.1M | $766.2M |
| Total Assets | $13.0B | $11.4B | $10.8B | $9.1B |
| Financing agreements ($5,956,057 and $5,516,005 held at fair value, respectively) | $10.9B | $9.2B | $8.5B | $6.8B |
| Other liabilities | $278.7M | $412.4M | $336.0M | $311.5M |
| Total Liabilities | $11.2B | $9.6B | $8.9B | $7.1B |
| Preferred stock | $194.0K | $190.0K | $190.0K | $190.0K |
| Common stock, $0.01 par value; 866,300 and 874,300 shares authorized, respectively; 101,663 and 102,083 shares issued and outstanding, respectively | 1.0M | 1.0M | 1.0M | 1.0M |
| Additional paid-in capital, in excess of par | $3.7B | $3.7B | $3.7B | $3.7B |
| Accumulated deficit | ($1.9B) | ($1.9B) | ($1.8B) | ($1.7B) |
| Accumulated other comprehensive income | $3.7M | $9.5M | $17.7M | $21.3M |
| Total Stockholders’ Equity | $1.8B | $1.8B | $1.9B | $2.0B |
| Total Liabilities and Stockholders’ Equity | $13.0B | $11.4B | $10.8B | $9.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Residential whole loans, net ($7,765,065 and $7,717,007 held at fair value, respectively) | $8.8B | $8.8B | $8.8B | $8.8B |
| Securities, at fair value | $4.1B | $3.6B | $2.3B | $1.8B |
| Cash and cash equivalents | $141.2M | $221.6M | $305.2M | $275.7M |
| Restricted cash | $169.0M | $189.2M | $231.8M | $269.2M |
| Other assets | $428.4M | $449.2M | $487.0M | $480.4M |
| Total Assets | $13.7B | $13.2B | $12.1B | $11.7B |
| Financing agreements ($5,812,397 and $5,956,057 held at fair value, respectively) | $11.7B | $11.1B | $9.8B | $9.5B |
| Other liabilities | $223.7M | $332.6M | $434.0M | $346.8M |
| Total Liabilities | $11.9B | $11.5B | $10.3B | $9.9B |
| Preferred stock | $197.0K | $196.0K | $192.0K | $190.0K |
| Common stock, $0.01 par value; 866,300 and 866,300 shares authorized, respectively; 101,088 and 101,663 shares issued and outstanding, respectively | 1.0M | 1.0M | 1.0M | 1.0M |
| Additional paid-in capital, in excess of par | $3.7B | $3.7B | $3.7B | $3.7B |
| Accumulated deficit | ($1.9B) | ($1.9B) | ($1.9B) | ($1.9B) |
| Accumulated other comprehensive income | $2.2M | $2.9M | $4.3M | $4.9M |
| Total Stockholders’ Equity | $1.8B | $1.8B | $1.8B | $1.8B |
| Total Liabilities and Stockholders’ Equity | $13.7B | $13.2B | $12.1B | $11.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income/(loss) | $176.8M | $119.3M | $80.2M | ($231.6M) |
| Net (gain)/loss on residential whole loans | ($138.8M) | ($54.2M) | ($87.4M) | $866.8M |
| Impairment and other net (gain)/loss on securities and other portfolio investments, net | ($61.5M) | $9.2M | ($7.1M) | $25.1M |
| Net (gain)/loss on real estate owned | $6.9M | ($2.7M) | ($9.5M) | ($24.5M) |
| Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities | $1.2M | ($5.5M) | ($19.0M) | — |
| Provision/(reversal of provision) for credit losses on residential whole loans and other assets | $936.0K | ($1.9M) | ($6.8M) | $25.9M |
| Net (gain)/loss on derivatives used for risk management purposes | $65.6M | ($2.5M) | $93.8M | ($247.9M) |
| Net (gain)/loss on securitized debt measured at fair value through earnings | $42.0M | $52.0M | $86.4M | ($290.6M) |
| Net margin received/(paid) for derivatives used for risk management purposes | ($96.1M) | $723.0K | ($35.6M) | $214.8M |
| Net other non-cash (gains)/losses included in net income | $67.4M | $69.3M | $31.7M | $27.5M |
| (Increase)/decrease in other assets | $4.5M | $25.1M | ($80.9M) | $40.1M |
| Increase/(decrease) in other liabilities | $7.4M | ($8.5M) | $63.0M | ($12.1M) |
| Net cash provided by/(used in) operating activities | $76.2M | $200.1M | $108.7M | $366.1M |
| Purchases and origination of residential whole loans, loan related investments and capitalized advances | ($2.7B) | ($2.7B) | ($2.9B) | ($3.2B) |
| Proceeds from sales of residential whole loans | $274.9M | $654.1M | $345.7M | — |
| Principal payments on residential whole loans and loan related investments | $2.4B | $2.2B | $1.4B | $1.9B |
| Purchases of securities | ($2.2B) | ($869.1M) | ($588.9M) | $0 |
| Proceeds from sales of securities and other assets | $46.8M | $45.6M | $23.3M | $15.7M |
| Principal payments on securities | $289.6M | $84.0M | $35.6M | $53.1M |
| Proceeds from sales of real estate owned | $96.4M | $86.1M | $115.0M | $134.0M |
| Other investing activities | ($78.9M) | $121.8M | ($11.1M) | — |
| Net cash provided by/(used in) investing activities | ($1.8B) | ($424.6M) | ($1.5B) | ($1.1B) |
| Principal payments on financing agreements with mark-to-market collateral provisions | ($2.7B) | ($2.7B) | ($2.9B) | ($3.0B) |
| Proceeds from borrowings under financing agreements with mark-to-market collateral provisions | $4.3B | $2.9B | $3.0B | $2.6B |
| Principal payments on other collateralized financing agreements | ($1.9B) | ($2.6B) | ($2.0B) | ($2.2B) |
| Proceeds from borrowings under other collateralized financing agreements | $2.0B | $3.0B | $3.5B | $3.7B |
| Payments made for other collateralized financing agreement related costs | ($10.9M) | ($7.5M) | ($12.6M) | ($16.4M) |
| Redemption and repurchase of convertible senior notes | $0 | ($209.6M) | ($20.2M) | — |
| Proceeds from issuance of senior notes | $0 | $182.7M | — | — |
| Payments made for settlements and unwinds of Swaps | ($27.3M) | ($27.5M) | — | $0 |
| Proceeds from issuance of preferred stock, net of expenses | $9.3M | — | — | — |
| Proceeds from issuances of common stock, net of expenses | ($68.0K) | ($81.0K) | ($7.0K) | $1.2M |
| Payments made for the repurchase of common stock | ($15.3M) | ($1.5M) | $0 | ($102.3M) |
| Dividends paid on preferred stock | ($40.3M) | ($32.9M) | ($32.9M) | ($32.9M) |
| Dividends paid on common stock and dividend equivalents | ($148.2M) | ($143.9M) | ($143.1M) | ($184.0M) |
| Net cash provided by/(used in) financing activities | $1.5B | $337.6M | $1.4B | $850.2M |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | ($214.6M) | $113.1M | ($5.9M) | $89.6M |
| Cash, cash equivalents and restricted cash at beginning of period | $601.3M | $488.2M | $494.1M | $404.4M |
| Cash, cash equivalents and restricted cash at end of period | $386.7M | $601.3M | $488.2M | $494.1M |
| Cash paid for interest | $508.3M | $516.2M | $418.1M | $239.2M |
| Transfer from residential whole loans to real estate owned | $107.1M | $103.7M | $84.7M | $82.9M |
| Transfer from commercial loans to real estate owned | $0 | $15.2M | — | — |
| Dividends and dividend equivalents declared and unpaid | $37.1M | $36.0M | $35.8M | $35.8M |
| Receivable for sale of unsettled residential whole loans | $0 | $0 | $14.0M | $275.7M |
| Payable for unsettled investment purchases | $0 | $63.1M | $103.7M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income/(loss) | $45.8M | ($984.0K) | $122.5M | $74.4M |
| Net (gain)/loss on residential whole loans | $65.1M | $32.1M | ($133.0M) | ($90.1M) |
| Impairment and other net (gain)/loss on securities and other portfolio investments, net | $42.1M | $38.3M | ($45.8M) | ($27.8M) |
| Net (gain)/loss on real estate owned | $4.5M | $3.0M | $4.2M | $4.4M |
| Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities | $6.1M | $3.2M | ($682.0K) | ($1.2M) |
| Provision/(reversal of provision) for credit losses on residential whole loans and other assets | ($304.0K) | ($241.0K) | $1.2M | $936.0K |
| Net (gain)/loss on derivatives | ($66.8M) | ($26.8M) | $66.2M | $60.2M |
| Net (gain)/loss on securitized debt measured at fair value through earnings | ($50.2M) | ($22.9M) | $43.6M | $22.3M |
| Net margin received/(paid) for derivatives | $52.2M | $13.5M | ($96.2M) | ($95.5M) |
| Net other non-cash (gains)/losses included in net income | $33.3M | $7.3M | $59.7M | $42.7M |
| (Increase)/decrease in other assets | $25.9M | $23.6M | $9.2M | $30.0M |
| Increase/(decrease) in other liabilities | $42.1M | $1.1M | $7.8M | $3.5M |
| Net cash provided by/(used in) operating activities | $199.9M | $71.1M | $38.6M | $23.9M |
| Purchases and origination of residential whole loans, loan related investments and capitalized advances | ($1.4B) | ($675.7M) | ($2.0B) | ($1.4B) |
| Proceeds from sales of residential whole loans | $184.4M | $85.8M | $220.3M | $137.0M |
| Principal payments on residential whole loans and loan related investments | $1.1B | $551.5M | $1.8B | $1.2B |
| Purchases of securities | ($1.1B) | ($350.9M) | ($817.6M) | ($461.8M) |
| Proceeds from sales of securities and other assets | $1.6M | $1.6M | $20.8M | $2.6M |
| Principal payments on securities | $276.8M | $128.1M | $171.9M | $128.6M |
| Proceeds from sales of real estate owned | $57.1M | $26.3M | $74.0M | $46.6M |
| Other investing activities | ($43.5M) | $7.8M | ($38.8M) | ($13.5M) |
| Net cash provided by/(used in) investing activities | ($913.5M) | ($225.6M) | ($554.0M) | ($282.1M) |
| Principal payments on financing agreements with mark-to-market collateral provisions | ($1.4B) | ($797.4M) | ($2.0B) | ($1.1B) |
| Proceeds from borrowings under financing agreements with mark-to-market collateral provisions | $2.3B | $1.1B | $2.5B | $1.6B |
| Principal payments on other collateralized financing agreements | ($1.7B) | ($813.8M) | ($1.3B) | ($881.3M) |
| Proceeds from borrowings under other collateralized financing agreements | $1.6B | $797.1M | $1.5B | $705.8M |
| Payments made for other collateralized financing agreement related costs | ($8.1M) | ($3.0M) | ($8.0M) | ($4.1M) |
| Payments made for settlements and unwinds of Swaps | ($6.2M) | ($6.8M) | ($26.0M) | ($17.2M) |
| Proceeds from issuance of preferred stock, net of expenses | $5.3M | $3.4M | $4.5M | — |
| Proceeds from issuances of common stock, net of expenses | ($19.0K) | ($10.0K) | ($61.0K) | ($40.0K) |
| Payments made for the repurchase of common stock | ($14.2M) | ($9.0M) | ($10.3M) | ($5.2M) |
| Dividends paid on preferred stock | ($21.0M) | ($10.4M) | ($29.6M) | ($18.8M) |
| Dividends paid on common stock and dividend equivalents | ($76.6M) | ($38.9M) | ($110.9M) | ($73.3M) |
| Net cash provided by/(used in) financing activities | $637.2M | $178.7M | $451.1M | $201.8M |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | ($76.4M) | $24.1M | ($64.3M) | ($56.4M) |
| Cash, cash equivalents and restricted cash at beginning of period | $386.7M | $386.7M | $601.3M | $601.3M |
| Cash, cash equivalents and restricted cash at end of period | $310.2M | $410.8M | $537.0M | $545.0M |
| Cash paid for interest | $268.3M | $132.3M | $377.3M | $249.5M |
| Transfer from residential whole loans to real estate owned | $47.0M | $25.3M | $85.1M | $55.7M |
| Dividends and dividend equivalents declared and unpaid | $37.6M | $37.7M | $37.3M | $37.5M |
| Payable for unsettled investment purchases | $0 | $41.8M | $116.9M | $0 |
| Increase/(decrease) in right-of-use lease asset from lease modification | ($32.6M) | ($32.6M) | — | — |
| Increase/(decrease) in lease liability from lease modification | ($36.5M) | ($36.0M) | — | — |
MFA Financial Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.