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MFICMidCap Financial Investment Corporation
$9.93$916M
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MFIC logoMidCap Financial Investment Corporation(MFIC)Earnings, Financials & Key Ratios

MFIC•NASDAQ•Banking & Credit
14.6× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutApollo Investment Corporation is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies. It provides direct equity capital, mezzanine, first lien secured loans, stretch senior loans, unitranche loans, second lien secured loans and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products. It prefers to invest in preferred equity, common equity / interests and warrants and makes equity co-investments. It may invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. It also focuses on other investments such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). The fund typically invests in construction and building materials, business services, plastics & rubber, advertising, capital equipment, education, cable television, chemicals, consumer products/goods durable and non-durable and customer services, direct marketing, energy – oil & gas, electricity and utilities. The fund also invest in aerospace & defense, wholesale, telecommunications, financial services, hotel, gaming, leisure, restaurants; environmental industries, healthcare and pharmaceuticals, high tech industries, beverages, food and tobacco, manufacturing, media – diversified & production, printing and publishing, retail, automation, aviation and consumer transport, transportation, cargo and distribution. It primarily invests in United States. It primarily invests between $20 million and $250 million in its portfolio companies. The fund seeks to make investments with stated maturities of five to 10 years.Show more
  • Net Interest Income$173K-99.9%
  • Total Revenue$274M+21.2%
  • Net Income$63M-36.1%
  • Return on Equity4.66%-43.2%
  • Net Interest Margin0.01%-99.9%
  • Efficiency Ratio11.76%+131.0%
  • ROA1.94%-44.1%
  • Equity / Assets39.33%-10.6%
  • Book Value per Share14.02-22.2%

MFIC Key Insights

MidCap Financial Investment Corporation (MFIC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Efficient operations: 11.8% efficiency ratio
  • ✓Well capitalized: 39.3% equity/assets
  • ✓Diversified revenue: 99.9% from non-interest income
  • ✓Trading at only 0.7x book value

✗Weaknesses

  • ✗Profits declining 10.8% over 5 years
  • ✗Weak NIM of 0.0%
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 19.6% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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MFIC Price & Volume

MidCap Financial Investment Corporation (MFIC) stock price & volume — 10-year historical chart

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MFIC Growth Metrics

MidCap Financial Investment Corporation (MFIC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years4.32%
5 Years8.54%
3 Years24.71%
TTM-

Profit CAGR

10 Years-
5 Years-10.8%
3 Years27.35%
TTM-68.32%

EPS CAGR

10 Years-
5 Years-16.84%
3 Years13.1%
TTM-97.06%

Return on Capital

10 Years3.61%
5 Years4.36%
3 Years4.81%
Last Year6.17%

MFIC Recent Earnings

MidCap Financial Investment Corporation (MFIC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 6, 2026
Metric
Actual
Est
EPS
$0.38+5.6%
$0.36
Rev
$72M-3.7%
$75M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$0.39+5.4%
$0.37
Rev
$78M-0.7%
$79M
Q4 2025
Nov 6, 2025
Metric
Actual
Est
EPS
$0.38+0.0%
$0.38
Rev
$64M-19.4%
$79M
Q3 2025
Aug 11, 2025
Metric
Actual
Est
EPS
$0.39+5.4%
$0.37
Rev
$53M-35.4%
$82M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 6, 2026
$0.38vs $0.36+5.6%
$72Mvs $75M-3.7%
Q1 2026Feb 26, 2026
$0.39vs $0.37+5.4%
$78Mvs $79M-0.7%
Q4 2025Nov 6, 2025
$0.38vs $0.38+0.0%
$64Mvs $79M-19.4%
Q3 2025Aug 11, 2025
$0.39vs $0.37+5.4%
$53Mvs $82M-35.4%
Based on last 12 quarters of dataView full earnings history →

MFIC Peer Comparison

MidCap Financial Investment Corporation (MFIC) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor12.95B18.039.6932.87%43.69%8.11%1.12
FSCO logoFSCOFS Credit Opportunities Corp.Direct Competitor997.19M4.936.49-18.64%10.48%0.20
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.22B12.358.7042.5%26.91%5.24%1.23
OBDC logoOBDCBlue Owl Capital CorporationDirect Competitor5.4B10.878.7752.55%27.51%4.83%1.26
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
CGBD logoCGBDCarlyle Secured Lending, Inc.Direct Competitor760.99M10.9510.8417.9%23.81%4.42%1.31
FSK logoFSKFS KKR Capital Corp.Product Competitor2.88B10.27261.325.5%-91.82%-9.39%1.31
PSEC logoPSECProspect Capital CorporationProduct Competitor1.11B2.21-1.64-159.23%-38%-1.12%0.70

Compare MFIC vs Peers

MidCap Financial Investment Corporation (MFIC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for MFIC.

Scale Benchmark

vs BX

Larger-name benchmark to compare MFIC against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, FSCO, GBDC, OBDC

MFIC Income Statement

MidCap Financial Investment Corporation (MFIC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricMar'18Mar'19Mar'20Mar'21Mar'22Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income
180.32M173.32M187.14M155.11M149.17M-79.15M166.93M180.81M173.1K-17.01M
NII Growth %
-0.21%-3.88%7.97%-17.12%-3.83%-153.06%310.9%8.32%-99.9%-410.67%
Net Interest Margin %
7.8%6.94%6.52%6.1%5.74%-3.13%6.67%5.67%0.01%-0.55%
Interest Income
233.36M231.64M260.54M210.53M204.19M0271.13M296.77M300.1K81.2M
Interest Expense
53.04M58.32M73.4M55.42M55.02M79.15M104.2M115.96M127K98.16M
Loan Loss Provision
-53.04M-689K000-31.75M0045.41M-83.09M
Non-Interest Income
-144.33M-147.61M-282.93M-28.38M-52.45M141.46M-33.78M-70.47M274.09M100.47M
Non-Interest Income %
-162.11%-175.66%1263.64%-15.58%-34.57%100%-14.23%-31.14%99.89%55.3%
Total Revenue
89.03M▲ 0%
84.03M▼ 5.6%
-22.39M▼ 126.6%
182.15M▲ 913.5%
151.74M▼ 16.7%
141.46M▼ 6.8%
237.35M▲ 67.8%
226.31M▼ 4.7%
274.39M▲ 21.2%
181.67M▲ 0%
Revenue Growth %
408.35%-5.62%-126.64%913.53%-16.7%-6.77%67.78%-4.65%21.25%-82.34%
Non-Interest Expense
2M12.09M20.28M14.87M14.35M-9.41M14.39M11.53M32.28M30.82M
Efficiency Ratio
2.25%14.38%-90.56%8.17%9.46%-6.65%6.06%5.09%11.76%16.97%
Operating Income
140.07M▲ 0%
130.26M▼ 7.0%
-116.06M▼ 189.1%
111.86M▲ 196.4%
82.36M▼ 26.4%
103.47M▲ 25.6%
118.76M▲ 14.8%
98.82M▼ 16.8%
196.57M▲ 98.9%
99.79M▲ 0%
Operating Margin %
157.32%155.02%518.37%61.41%54.28%73.14%50.04%43.67%71.64%54.93%
Operating Income Growth %
79.26%-7%-189.1%196.38%-26.37%25.62%14.78%-16.79%98.92%-
Pretax Income
87.03M▲ 0%
71.95M▼ 17.3%
-116.06M▼ 261.3%
111.86M▲ 196.4%
82.36M▼ 26.4%
30.59M▼ 62.9%
118.76M▲ 288.3%
98.82M▼ 16.8%
63.17M▼ 36.1%
32.84M▲ 0%
Pretax Margin %
97.75%85.62%518.37%61.41%54.28%21.62%50.04%43.67%23.02%18.08%
Income Tax
0000000000
Effective Tax Rate %
0%0%0%0%0%0%0%0%0%0%
Net Income
87.03M▲ 0%
71.95M▼ 17.3%
-116.06M▼ 261.3%
111.86M▲ 196.4%
82.36M▼ 26.4%
30.59M▼ 62.9%
118.76M▲ 288.3%
98.82M▼ 16.8%
63.17M▼ 36.1%
32.84M▲ 0%
Net Margin %
97.75%85.62%518.37%61.41%54.28%21.62%50.04%43.67%23.02%18.08%
Net Income Growth %
373.76%-17.33%-261.32%196.38%-26.37%-62.86%288.27%-16.79%-36.08%-68.32%
Net Income (Continuing)
87.03M71.95M-116.06M111.86M82.36M30.59M118.76M98.82M63.17M32.84M
EPS (Diluted)
1.19▲ 0%
1.02▼ 14.3%
-1.73▼ 269.6%
1.71▲ 198.8%
1.28▼ 25.1%
0.47▼ 63.3%
1.82▲ 287.2%
1.27▼ 30.2%
0.68▼ 46.5%
-▲ 0%
EPS Growth %
376%-14.29%-269.61%198.84%-25.15%-63.28%287.23%-30.22%-46.46%-97.06%
EPS (Basic)
1.191.02-1.731.711.280.471.821.270.68-
Diluted Shares Outstanding
72.87M70.65M67.23M65.26M64.52M64.59M65.33M77.96M93.26M0

MFIC Balance Sheet

MidCap Financial Investment Corporation (MFIC) balance sheet — assets, liabilities & shareholders' equity

MetricMar'18Mar'19Mar'20Mar'21Mar'22Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments
15.33M41.19M43.68M54.62M30.6M87.09M122.13M75.79M99.45M276.47M
Cash & Due from Banks
15.33M41.19M43.68M54.62M30.6M87.09M122.13M75.79M99.45M42.63M
Short Term Investments
0000000000
Total Investments
2.25B2.41B533.87M553.65M02.4B003.17B0
Investments Growth %
-2.96%7.12%-77.83%3.71%-100%--100%---100%
Long-Term Investments
2.25B2.41B533.87M553.65M02.4B003.17B6.35B
Accounts Receivables
28.86M28.36M25.16M18.28M28.63M25.11M25.56M77.19M30.56M23.43M
Goodwill & Intangibles
0000000000
Goodwill
0000000000
Intangible Assets
0000000000
PP&E (Net)
0000000000
Other Assets
-2.25B-2.41B2.27B1.92B2.54B13.4M2.35B3.04B25.8M0
Total Current Assets
44.19M69.55M69.57M73.81M59.94M113.99M147.7M152.98M130.01M66.05M
Total Non-Current Assets
2.25B2.41B2.8B2.47B2.54B2.41B2.35B3.04B3.19B0
Total Assets
2.31B▲ 0%
2.5B▲ 8.0%
2.87B▲ 14.9%
2.54B▼ 11.4%
2.6B▲ 2.2%
2.53B▼ 2.9%
2.5B▼ 1.0%
3.19B▲ 27.6%
3.32B▲ 4.2%
3.07B▲ 0%
Asset Growth %
-4.08%8.05%14.94%-11.37%2.19%-2.87%-0.96%27.57%4.16%34.25%
Return on Assets (ROA)
3.69%2.99%-4.32%4.13%3.2%1.19%4.72%3.47%1.94%1%
Accounts Payable
79.58M37.53M32.25M25.59M26.25M014.49M17M13.43M0
Total Debt
789.85M1.13B1.79B1.47B1.55B1.48B1.46B1.75B2B0
Net Debt
774.51M1.09B1.75B1.41B1.52B1.4B1.34B1.68B1.9B-42.63M
Long-Term Debt
789.85M1.13B1.79B1.47B1.55B1.48B1.46B1.75B1.87B0
Short-Term Debt
00000000125M0
Other Liabilities
-789.85M-1.13B19.87M17.2M18.43M54.02M19.26M17.68M21.17M1.89B
Total Current Liabilities
79.58M37.53M32.25M25.59M26.25M47.57M14.49M17M125M0
Total Non-Current Liabilities
789.85M1.13B1.81B1.48B1.57B1.54B1.48B1.77B1.89B1.89B
Total Liabilities
893.72M1.19B1.85B1.51B1.6B1.54B1.5B1.79B2.02B1.89B
Total Equity
1.42B▲ 0%
1.31B▼ 7.4%
1.02B▼ 22.0%
1.04B▲ 1.2%
1B▼ 3.0%
988.11M▼ 1.7%
1.01B▲ 1.7%
1.4B▲ 39.7%
1.31B▼ 6.9%
1.18B▲ 0%
Equity Growth %
-4.3%-7.44%-21.96%1.17%-3.04%-1.66%1.74%39.72%-6.93%11.16%
Equity / Assets (Capital Ratio)
61.34%52.55%35.68%40.73%38.65%39.12%40.19%44.02%39.33%38.32%
Return on Equity (ROE)
6%5.27%-9.93%10.86%8.07%3.07%11.92%8.2%4.66%2.51%
Book Value per Share
19.4618.5815.2415.8815.5715.3015.3918.0214.0213.82
Tangible BV per Share
19.4618.5815.2415.8815.5715.3015.3918.0214.02-
Common Stock
216K69K65K65K62K65K65K94K92K85K
Additional Paid-in Capital
002.1B2.1B2.08B2.11B2.1B2.66B2.65B0
Retained Earnings
-10.23M-843.28M-1.08B-1.06B-1.07B-1.12B-1.1B-1.25B-1.35B0
Accumulated OCI
0000000000
Treasury Stock
--00000000
Preferred Stock
0000000000

MFIC Cash Flow Statement

MidCap Financial Investment Corporation (MFIC) cash flow — operating, investing & free cash flow history

MetricMar'18Mar'19Mar'20Mar'21Mar'22Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
263.8M-132.63M-482.46M470.67M-2.68M76.07M196.38M-9.53M101.37M271.79M
Operating CF Growth %
-58.94%-150.28%-263.76%197.56%-100.57%2941.54%158.17%-104.85%1163.44%1876.21%
Net Income
87.03M71.95M-116.06M111.86M82.36M30.59M118.76M98.82M28.7M32.84M
Depreciation & Amortization
00000000-1.7M-463K
Deferred Taxes
0000000000
Other Non-Cash Items
181.08M-196.61M-367.82M355.17M-83.99M39.9M72.64M-119.19M90.72M125.69M
Working Capital Changes
-4.31M-7.96M1.42M3.64M-1.05M5.58M4.98M10.84M-16.36M-14.87M
Cash from Investing
0000082.32M00-151.11M117.2M
Purchase of Investments
00000-499.63M00-1.28B-296.79M
Sale/Maturity of Investments
00000581.95M001.13B413.99M
Net Investment Activity
0000082.32M00-151.11M117.2M
Acquisitions
0000000000
Other Investing
0000000000
Cash from Financing
-254.73M153.53M484.89M-459.7M-21.33M-101.91M-161.36M-36.76M73.37M-293.3M
Dividends Paid
-131.5M-127.98M-121.78M-105.72M-93.34M-66.72M-123.48M-139.62M-141.59M-109.32M
Share Repurchases
-19.75M-50.83M-52.14M0-21.1M-1.64M-2.3M0-18.97M-88.92M
Stock Issued
0000030M0000
Net Stock Activity
-19.75M-50.83M-52.14M0-21.1M28.36M-2.3M0-18.97M-88.92M
Debt Issuance (Net)
-1000K1000K1000K-1000K1000K-1000K-1000K1000K1000K1000K
Other Financing
-522K-9.91M-844K-10.17M-333K0-10.9M-8.88M0-222.73M
Net Change in Cash
9.07M▲ 0%
20.84M▲ 129.8%
2.49M▼ 88.1%
10.95M▲ 340.2%
-24.03M▼ 319.5%
32.47M▲ 235.1%
35.04M▲ 7.9%
-46.34M▼ 232.3%
23.66M▲ 151.1%
-42.34M▲ 0%
Exchange Rate Effect
3K-60K60K-23K-18K-24.02M16K-48K36K-32K
Cash at Beginning
11.28M20.35M41.19M43.68M54.62M54.62M87.09M122.13M75.79M99.45M
Cash at End
20.35M41.19M43.68M54.62M30.6M87.09M122.13M75.79M99.45M42.69M
Interest Paid
--00000000
Income Taxes Paid
--00000000
Free Cash Flow
263.8M▲ 0%
-132.63M▼ 150.3%
-482.46M▼ 263.8%
470.67M▲ 197.6%
-2.68M▼ 100.6%
76.07M▲ 2941.5%
196.38M▲ 158.2%
-9.53M▼ 104.9%
101.37M▲ 1163.4%
271.79M▲ 0%
FCF Growth %
-58.94%-150.28%-263.76%197.56%-100.57%2941.54%158.17%-104.85%1163.44%280.94%

MFIC Banking Ratios

MidCap Financial Investment Corporation (MFIC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
6%5.27%-9.93%10.86%8.07%3.07%11.92%8.2%4.66%2.51%
Return on Assets (ROA)
3.69%2.99%-4.32%4.13%3.2%1.19%4.72%3.47%1.94%1%
Net Interest Margin
7.8%6.94%6.52%6.1%5.74%-3.13%6.67%5.67%0.01%-0.55%
Efficiency Ratio
2.25%14.38%-90.56%8.17%9.46%-6.65%6.06%5.09%11.76%16.97%
Equity / Assets
61.34%52.55%35.68%40.73%38.65%39.12%40.19%44.02%39.33%38.32%
Book Value / Share
19.4618.5815.2415.8815.5715.315.3918.0214.0213.82
NII Growth
-0.21%-3.88%7.97%-17.12%-3.83%-153.06%310.9%8.32%-99.9%-109.04%
Dividend Payout
151.1%177.88%-94.51%113.33%218.15%103.97%141.29%224.14%322.63%
Related:MFIC Dividend History·MFIC Revenue History·MFIC Price History·MFIC P/E History·MFIC Financial Ratios·MFIC Institutional Holders

MFIC SEC Filings & Documents

MidCap Financial Investment Corporation (MFIC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 6, 2026·SEC

Material company update

Apr 20, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 11, 2025·SEC

MFIC Frequently Asked Questions

MidCap Financial Investment Corporation (MFIC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MidCap Financial Investment Corporation (MFIC) grew revenue by 21.2% over the past year. This is strong growth.

Yes, MidCap Financial Investment Corporation (MFIC) is profitable, generating $32.8M in net income for fiscal year 2025 (23.0% net margin).

Dividend & Returns

Yes, MidCap Financial Investment Corporation (MFIC) pays a dividend with a yield of 15.29%. This makes it attractive for income-focused investors.

MidCap Financial Investment Corporation (MFIC) has a return on equity (ROE) of 4.7%. This is below average, suggesting room for improvement.

Industry Metrics

MidCap Financial Investment Corporation (MFIC) has a net interest margin (NIM) of 0.0%. NIM has been under pressure due to interest rate environment.

MidCap Financial Investment Corporation (MFIC) has an efficiency ratio of 11.8%. This is excellent, indicating strong cost control.

What if you invested $1,000 in MFIC back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

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How much would $100/month in MFIC be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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