Companies: 10,795·Total market cap: $144.5T
MFA Financial, Inc.

MFA Financial, Inc.

MFANYSEReal Estate● Active
$9.28
+$0.16(+1.70%)
Market Cap$946920531
P/E Ratio—
52W High$10.57
52W Low$8.78
Overview

MFA Financial, Inc. (MFA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MFA · free cash flow · updated Jun 9, 2026

Core FCF metrics

Free cash flow was $76.2M for FY2025 (fiscal year ending 2025-12-31), down 61.9% year-over-year The FCF margin was 8.7%. Five-year CAGR stands at +17.9%.

FY2025 Free Cash Flow$76.2M▼ -61.9% YoY
Trailing 12M (TTM)$161.9Mtrailing 4 quarters sum
FCF Margin8.7%$76.2M ÷ revenue
3-Year CAGR-40.7%FY2022 → FY2025
5-Year CAGR+17.9%FY2020 → FY2025
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
mfa free cash flow history · mfa free cash flow chart · mfa free cash flow growth rate · mfa free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest$76.2M▼ 61.9%8.7%
FY2024$200.1M▲ +84.0%71.6%
FY2023$108.7M▼ 70.3%46.5%
FY2022$365.8M▲ +237.9%—
FY2021$108.2M▲ +222.8%32.1%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
mfa free cash flow 2025 · mfa free cash flow 2024 · mfa free cash flow 2023 · mfa operating cash flow

FCF valuation metrics

MFA Financial, Inc. (MFA) trades at a FCF yield of 17.39% and a price-to-free-cash-flow ratio of 5.9x. FCF per share stands at $1.56, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
17.39%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$1.56
TTM FCF ÷ Shares Outstanding
Price / FCF
x5.9
Share Price ÷ FCF per Share
EV / FCF (TTM)
x44.5
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
mfa price to free cash flow · mfa free cash flow yield · mfa free cash flow per share · mfa price to cash flow ratio

Cash flow statement summary

For FY2025, MFA Financial, Inc. generated $76.2M in operating cash flow and spent 0M in capital expenditures, yielding $76.2M in free cash flow.

Operating Activities
+$76.2M
Cash from core business operations
2025-12-31
Investing Activities
−$1.79B
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$1.49B
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($76.2M) − |CapEx| (0M) = FCF ($76.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
mfa cash flow statement · mfa cash flow statement 2025 · mfa operating cash flow · mfa cash flow from operations

Free cash flow vs peers (Real Estate)

#CompanyFree Cash FlowYoY
#1
MFA Financial, Inc.
MFA Financial, Inc.YOU
MFA
$76.2M-61.9%
#2
Prologis, Inc.
Prologis, Inc.
PLD
$5.01B+2.0%#3
American Tower Corporation
American Tower Corporation
AMT
$3.78B+2.2%#4
Simon Property Group, Inc.
Simon Property Group, Inc.
SPG
$3.57B+16.6%#5
Welltower Inc.
Welltower Inc.
WELL
$2.85B+29.5%#6
Equinix, Inc.
Equinix, Inc.
EQIX
−$400.0M-318.6%
Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

MFA Financial, Inc. (MFA) reported free cash flow of $76.2M for FY2025 (fiscal year ending 2025-12-31), down 61.9% year-over-year. The FCF margin was 8.7%.

Based on available data, MFA Financial, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $365.8M in FY2022. The 5-year CAGR stands at +17.9%.

MFA Financial, Inc.'s FCF yield is 17.39% and price-to-FCF ratio is 5.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

MFA free cash flow · 8 questions

MFA Financial, Inc. free cash flow was $76.2M for FY2025, down 61.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $161.9M.

MFA free cash flowMFA FCFMFA FCF 2025MFA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · MFA Financial, Inc. · MFA Financial, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026