MFA Financial, Inc.

MFANYSEReal Estate● Active

$9.12

$-0.16(-1.72%)

Market Cap$931096021

P/E Ratio—

52W High$10.57

52W Low$8.78

Avg Volume1.4M

Open$9.32

Beta1.50

Free Cash Flow Financials Revenue

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

MFA · FCF · TTM · margin & CAGR

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

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MFA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$76.2M(0M)$76.2M▼ 61.9%8.7%

FY2024$200.1M(0M)$200.1M▲ +84.0%71.6%

FY2023$108.7M(0M)$108.7M▼ 70.3%46.5%

FY2022$366.1M(0M)$365.8M▲ +237.9%—

FY2021$120.3M(12M)$108.2M▲ +222.8%32.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MFA · P/FCF · FCF yield · FCF per share

MFA Financial, Inc. (MFA) trades at a FCF yield of 17.28% and a price-to-free-cash-flow ratio of 5.8x. FCF per share stands at $1.56, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

17.28%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.56

TTM FCF ÷ Shares Outstanding

Price / FCF

x5.8

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

Cash flow statement summary

MFA · cash flow statement · operating / investing / financing

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 →

Free cash flow vs peers (Real Estate)

MFA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

MFA Financial, Inc.YOU

MFA

$76.2M-61.9%8.7%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

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 17.28% and price-to-FCF ratio is 5.8x 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.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/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