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NMFC logoNew Mountain Finance Corporation(NMFC)Earnings, Financials & Key Ratios

NMFC•NASDAQ•Banking & Credit
$8.44
$797M mkt cap·60.3× P/E·Price updated May 7, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutNew Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes and mezzanine securities. In some cases, its investments may also include equity interests. It targets energy, specialty chemicals and materials, trading companies and distributors, commercial printing, diversified support services, education services, environmental and facilities services, office services and supplies, media, distributors, health care services, health care facilities, application software, business services, systems software, federal services, distribution and logistics, interactive home entertainment, telecommunication services, hydroelectric power generation, electric power generation by fossil fuels, electric power generation by nuclear fuels, health care technology, and security and alarm services. The fund seeks to invest in United States of America. It seeks to invest between $10 million and $50 million per transaction. The firm invests through both primary originations and open-market secondary purchases. It invests in companies with EBITDA between $10 million and $200 million and target investments up to a $125 million hold size. The fund seeks a majority stake in its portfolio companies.Show more
  • Net Interest Income$195M+39.5%
  • Total Revenue$370M+12.3%
  • Net Income$16M-85.5%
  • Return on Equity1.29%-84.6%
  • Net Interest Margin6.7%+56.0%
  • Efficiency Ratio45.65%+2506.6%
  • ROA0.54%-84.9%
  • Equity / Assets40.93%-2.2%
  • Book Value per Share9.81-8.5%
  • Tangible BV/Share9.81-8.5%
  • Debt/Equity1.41+4.1%
Technical→

NMFC Key Insights

New Mountain Finance Corporation (NMFC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong NIM of 6.7%
  • ✓Efficient operations: 45.7% efficiency ratio
  • ✓Well capitalized: 40.9% equity/assets
  • ✓Share count reduced 4.5% through buybacks
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Profits declining 22.4% over 5 years
  • ✗Dividend payout exceeds 100% of earnings

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

NMFC Price & Volume

New Mountain Finance Corporation (NMFC) stock price & volume — 10-year historical chart

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NMFC Growth Metrics

New Mountain Finance Corporation (NMFC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.13%
5 Years6.45%
3 Years2.15%
TTM-

Profit CAGR

10 Years-6.69%
5 Years-22.37%
3 Years-39.57%
TTM-152.86%

EPS CAGR

10 Years-12.79%
5 Years-25.25%
3 Years-42.59%
TTM-159%

Return on Capital

10 Years6.42%
5 Years7.01%
3 Years6.94%
Last Year4.76%

NMFC Recent Earnings

New Mountain Finance Corporation (NMFC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/12 qtrs (17%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 4, 2026
EPS
$0.32
Est $0.32
+0.0%
Revenue
$69M
Est $68M
+1.5%
Q1 2026
Feb 24, 2026
EPS
$0.32
Est $0.32
+0.0%
Revenue
$77M
Est $79M
-1.9%
Q4 2025
Nov 3, 2025
EPS
$0.32
Est $0.32
+0.0%
Revenue
$81M
Est $79M
+1.8%
Q3 2025
Aug 4, 2025
EPS
$0.32
Est $0.32
+0.0%
Revenue
$97M
Est $85M
+14.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.32vs $0.32+0.0%
$69Mvs $68M+1.5%
Q1 2026Feb 24, 2026
$0.32vs $0.32+0.0%
$77Mvs $79M-1.9%
Q4 2025Nov 3, 2025
$0.32vs $0.32+0.0%
$81Mvs $79M+1.8%
Q3 2025Aug 4, 2025
$0.32vs $0.32+0.0%
$97Mvs $85M+14.6%
Based on last 12 quarters of dataView full earnings history →

NMFC Peer Comparison

New Mountain Finance Corporation (NMFC) 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
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor13.61B18.9610.1932.87%8.11%1.12
FSCO logoFSCOFS Credit Opportunities Corp.Direct Competitor1.02B5.155.42-17.44%13.47%0.32
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.43B13.159.2642.5%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor242.54M5.994.9136.55%-3.39%1.33
CGBD logoCGBDCarlyle Secured Lending, Inc.Direct Competitor858.8M11.787.46-2.92%6.2%1.07
OCSL logoOCSLOaktree Specialty Lending CorporationDirect Competitor1.08B12.2131.3160.93%3.45%1.01
FSK logoFSKFS KKR Capital Corp.Product Competitor3.06B10.94278.375.5%0.18%1.31
BBDC logoBBDCBarings BDC, Inc.Product Competitor927.7M8.869.1319%5.96%1.23

Compare NMFC vs Peers

New Mountain Finance Corporation (NMFC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for NMFC.

Scale Benchmark

vs BAC

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

Peer Set

Compare Top 5

vs ARCC, FSCO, GBDC, TPVG

NMFC Income Statement

New Mountain Finance Corporation (NMFC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income112.71M104.85M124.42M133.5M116.48M119.77M166M139.5M194.62M-187.74B
NII Growth %-5.27%-6.97%18.67%7.3%-12.75%2.82%38.59%-15.96%39.51%-578796.26%
Net Interest Margin %5.85%4.28%3.81%4.31%3.53%3.57%5.25%4.3%6.7%-7734.79%
Interest Income149.8M161.9M208.72M212.63M189.58M212.19M290.78M276.14M318.34M250.76M
Interest Expense37.09M57.05M84.3M79.13M73.1M92.42M124.78M136.64M123.72M187.99B
Loan Loss Provision000-1.08M685K-16.41M-40.89M-54.25M-63.15M-187.92B
Non-Interest Income8.27M59.91M68.67M58.27M77.51M135.14M51.2M53.7M51.9M-25.03M
Non-Interest Income %5.23%27.01%24.76%21.51%29.02%38.91%14.97%16.28%14.02%-11.09%
Total Revenue
158.07M▲ 0%
221.81M▲ 40.3%
277.4M▲ 25.1%
270.91M▼ 2.3%
267.1M▼ 1.4%
347.33M▲ 30.0%
341.98M▼ 1.5%
329.83M▼ 3.6%
370.24M▲ 12.3%
225.73M▲ 0%
Revenue Growth %4.43%40.32%25.06%-2.34%-1.41%30.04%-1.54%-3.55%12.25%-113.2%
Non-Interest Expense157K3.05M-3.44M-3.94M-87.27M94.79M-4.44M-6.26M169.03M126.96M
Efficiency Ratio0.1%1.38%-1.24%-1.46%-32.67%27.29%-1.3%-1.9%45.65%56.24%
Operating Income
109.81M▲ 0%
72.76M▼ 33.7%
112.56M▲ 54.7%
60.85M▼ 45.9%
280.58M▲ 361.1%
176.54M▼ 37.1%
262.52M▲ 48.7%
253.7M▼ 3.4%
140.64M▼ 44.6%
32M▲ 0%
Operating Margin %69.47%32.8%40.58%22.46%105.05%50.83%76.77%76.92%37.99%14.18%
Operating Income Growth %-1.24%-33.75%54.71%-45.94%361.13%-37.08%48.71%-3.36%-44.56%-
Pretax Income
109.81M▲ 0%
72.76M▼ 33.7%
112.56M▲ 54.7%
60.85M▼ 45.9%
207.41M▲ 240.9%
83.83M▼ 59.6%
137.85M▲ 64.4%
116.88M▼ 15.2%
17.4M▼ 85.1%
-56.95M▲ 0%
Pretax Margin %69.47%32.8%40.58%22.46%77.66%24.13%40.31%35.44%4.7%-25.23%
Income Tax416K403K0-991K232K9.3M1.76M2.38M430K344K
Effective Tax Rate %0.38%0.55%0%-1.63%0.11%11.09%1.28%2.03%2.47%-0.6%
Net Income
109.4M▲ 0%
72.35M▼ 33.9%
112.56M▲ 55.6%
58.47M▼ 48.1%
201.4M▲ 244.4%
74.73M▼ 62.9%
135.34M▲ 81.1%
113.44M▼ 16.2%
16.49M▼ 85.5%
-57.85M▲ 0%
Net Margin %69.21%32.62%40.58%21.58%75.4%21.52%39.58%34.39%4.45%-25.63%
Net Income Growth %-2.04%-33.86%55.57%-48.05%244.43%-62.89%81.1%-16.18%-85.47%-152.86%
Net Income (Continuing)109.4M72.35M112.56M61.84M207.18M74.53M136.09M114.5M16.97M-57.29M
EPS (Diluted)
1.38▲ 0%
0.91▼ 34.1%
1.22▲ 34.1%
0.60▼ 50.8%
1.91▲ 218.3%
0.74▼ 61.3%
1.24▲ 67.6%
1.03▼ 16.9%
0.14▼ 86.4%
-0.58▲ 0%
EPS Growth %-13.75%-34.06%34.07%-50.82%218.33%-61.26%67.57%-16.94%-86.41%-159%
EPS (Basic)1.470.951.320.602.080.751.341.060.16-
Diluted Shares Outstanding84M88.63M100.46M110.08M110.21M115.43M123.49M126.78M121.09M100.48M

NMFC Balance Sheet

New Mountain Finance Corporation (NMFC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments34.94M49.66M48.57M78.97M58.08M71.19M70.09M80.32M80.72M252.92M
Cash & Due from Banks34.94M49.66M48.57M78.97M58.08M71.19M70.09M80.32M80.72M51.13M
Short Term Investments0000000000
Total Investments1.83B2.34B472.95M600.88M755.81M0002.76B2.96M
Investments Growth %17.12%28.28%-79.81%27.05%25.78%-100%---35507.31%
Long-Term Investments1.83B2.34B472.95M600.88M755.81M0002.76B5.73B
Accounts Receivables0032.08M37.55M30.87M36.15M44.19M42.59M38.55M0
Goodwill & Intangibles0000000000
Goodwill0000000000
Intangible Assets0000000000
PP&E (Net)0000000000
Other Assets-1.93B-2.43B2.71B2.38B2.45B3.25B3.04B3.12B17.91M2.37B
Total Current Assets66.78M80.03M80.65M116.51M88.94M107.34M114.28M122.91M123.79M51.13M
Total Non-Current Assets1.83B2.37B3.19B2.98B3.21B3.25B3.04B3.12B2.78B2.38B
Total Assets
1.93B▲ 0%
2.45B▲ 27.0%
3.27B▲ 33.4%
3.1B▼ 5.2%
3.3B▲ 6.4%
3.35B▲ 1.8%
3.16B▼ 5.8%
3.25B▲ 2.8%
2.9B▼ 10.6%
2.43B▲ 0%
Asset Growth %16.42%27%33.38%-5.16%6.4%1.79%-5.83%2.77%-10.59%-51.9%
Return on Assets (ROA)6.1%3.31%3.94%1.84%6.3%2.25%4.16%3.54%0.54%-2%
Accounts Payable5.11M32.54M18.26M42.43M25.3M19.63M20.44M17.11M025.27M
Total Debt869.5M1.38B1.94B1.8B1.91B1.98B1.79B1.84B1.67B1.33B
Net Debt834.56M1.33B1.89B1.72B1.85B1.91B1.72B1.76B1.59B1.28B
Long-Term Debt869.5M1.38B1.94B1.8B1.91B1.98B1.79B1.84B1.45B1.33B
Short-Term Debt155.41M0000000217.9M0
Other Liabilities-132.76M9.82M22.03M20.61M20.71M28.45M21.6M33.59M41.73M8.08M
Total Current Liabilities470.13M718.35M18.26M42.43M25.3M19.63M20.44M17.11M217.9M42.52M
Total Non-Current Liabilities422.91M724.05M1.96B1.82B1.93B2.01B1.81B1.87B1.5B1.33B
Total Liabilities893.04M1.44B1.98B1.86B1.95B2.03B1.83B1.89B1.71B1.38B
Total Equity
1.87B▲ 0%
2.34B▲ 25.2%
1.28B▼ 45.2%
1.24B▼ 3.6%
1.34B▲ 8.5%
1.33B▼ 1.2%
1.33B▲ 0.4%
1.36B▲ 2.1%
1.19B▼ 12.6%
1.05B▲ 0%
Equity Growth %17.63%25.2%-45.17%-3.63%8.55%-1.22%0.42%2.07%-12.58%-47.32%
Equity / Assets (Capital Ratio)96.97%95.59%39.3%39.93%40.74%39.53%42.15%41.87%40.93%43.26%
Return on Equity (ROE)6.33%3.44%6.21%4.64%15.62%5.6%10.18%8.43%1.29%-4.8%
Book Value per Share22.2626.4112.7811.2412.1811.4910.7810.729.8110.45
Tangible BV per Share22.2626.4112.7811.2412.1811.4910.7810.729.8110.45
Common Stock759K761K968K968K979K1.01M1.03M1.08M1.08M1.08M
Additional Paid-in Capital1.05B1.04B1.29B1.27B1.27B1.31B1.33B1.37B1.35B1.35B
Retained Earnings39.16M-30.12M-5.35M-48.76M47.47M7.52M-12.34M-13.59M192.58M-203.75M
Accumulated OCI-19M-30M000000-314.26M0
Treasury Stock00000000-51.95M-108.55M
Preferred Stock061.98M00000000

NMFC Cash Flow Statement

New Mountain Finance Corporation (NMFC) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-166.31M-393.49M66.55M102.99M51.69M70.12M76M42M378.98M378.98M
Operating CF Growth %-374.86%-136.6%116.91%54.75%-49.81%35.66%8.4%-44.74%802.36%3219.31%
Net Income109.4M72.35M112.56M58.47M201.4M74.73M135.34M113.44M16.97M-57.85M
Depreciation & Amortization-50.91M22.09M00000000
Deferred Taxes-140K112K00000000
Other Non-Cash Items5.34M4.62M-25.23M15.89M-134.22M5.91M-47.04M-70.26M361.09M741.16M
Working Capital Changes-17.06M43.2M-20.78M28.62M-15.49M-10.53M-12.3M-1.18M915K-7.39M
Cash from Investing-228.3M-506.33M-777.02M197.65M-68.01M-36.92M256.8M-26.23M00
Purchase of Investments-995.66M-1.31B-1.11B-444.13M-1.13B-620.88M-283.66M-806.33M00
Sale/Maturity of Investments767.36M802.96M328.15M641.78M1.07B583.96M540.46M780.1M00
Net Investment Activity-228.3M-506.33M-777.02M197.65M-68.01M-36.92M256.8M-26.23M00
Acquisitions0000000000
Other Investing0000000000
Cash from Financing155.32M408.22M709.38M-270.25M-4.53M-19.69M-333.96M-31.36M-378.74M-711.1M
Dividends Paid-94.21M-101.06M-113.14M-120.07M-114.22M-121.29M-150.74M-147.19M-135.7M-132.33M
Share Repurchases00000000-51.95M-108.55M
Stock Issued81.48M0277.78M-278K12.22M39.8M20.83M67.69M00
Net Stock Activity81.48M0277.78M-278K12.22M39.8M20.83M67.69M-51.95M-108.55M
Debt Issuance (Net)1000K1000K1000K-1000K1000K1000K-1000K1000K-1000K-4M
Other Financing-6.55M-7.17M00570K-9.57M-693K-13.03M-2.99M-2.06M
Net Change in Cash
-10.99M▲ 0%
14.73M▲ 234.0%
-1.09M▼ 107.4%
30.39M▲ 2888.3%
-20.89M▼ 168.7%
13.11M▲ 162.8%
-1.1M▼ 108.4%
10.23M▲ 1030.0%
398K▼ 96.1%
-34.37M▲ 0%
Exchange Rate Effect228.3M506.33M00-32K-391K55K-409K153K253K
Cash at Beginning45.93M34.94M49.66M48.57M78.97M58.08M71.19M70.09M80.32M80.72M
Cash at End34.94M49.66M48.57M78.97M58.08M71.19M70.09M80.32M80.72M51.13M
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow
-166.31M▲ 0%
-393.49M▼ 136.6%
66.55M▲ 116.9%
102.99M▲ 54.8%
51.69M▼ 49.8%
70.12M▲ 35.7%
76M▲ 8.4%
42M▼ 44.7%
378.98M▲ 802.4%
676.48M▲ 0%
FCF Growth %-374.86%-136.6%116.91%54.75%-49.81%35.66%8.4%-44.74%802.36%959.36%

NMFC Banking Ratios

New Mountain Finance Corporation (NMFC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)6.33%3.44%6.21%4.64%15.62%5.6%10.18%8.43%1.29%-4.8%
Return on Assets (ROA)6.1%3.31%3.94%1.84%6.3%2.25%4.16%3.54%0.54%-2%
Net Interest Margin5.85%4.28%3.81%4.31%3.53%3.57%5.25%4.3%6.7%-7734.79%
Efficiency Ratio0.1%1.38%-1.24%-1.46%-32.67%27.29%-1.3%-1.9%45.65%56.24%
Equity / Assets96.97%95.59%39.3%39.93%40.74%39.53%42.15%41.87%40.93%43.26%
Book Value / Share22.2626.4112.7811.2412.1811.4910.7810.729.8110.45
NII Growth-5.27%-6.97%18.67%7.3%-12.75%2.82%38.59%-15.96%39.51%-141216.53%
Dividend Payout86.12%139.67%-----1.58%823%-228.74%

NMFC SEC Filings & Documents

New Mountain Finance Corporation (NMFC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Mar 24, 2026·SEC

Material company update

Mar 13, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 4, 2026·SEC

FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 4, 2025·SEC

NMFC Frequently Asked Questions

New Mountain Finance Corporation (NMFC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

New Mountain Finance Corporation (NMFC) grew revenue by 12.3% over the past year. This is steady growth.

New Mountain Finance Corporation (NMFC) reported a net loss of $57.9M for fiscal year 2025.

Dividend & Returns

Yes, New Mountain Finance Corporation (NMFC) pays a dividend with a yield of 13.28%. This makes it attractive for income-focused investors.

New Mountain Finance Corporation (NMFC) has a return on equity (ROE) of 1.3%. This is below average, suggesting room for improvement.

Industry Metrics

New Mountain Finance Corporation (NMFC) has a net interest margin (NIM) of 6.7%. This indicates healthy earnings from lending activities.

New Mountain Finance Corporation (NMFC) has an efficiency ratio of 45.7%. This is excellent, indicating strong cost control.

Explore More NMFC

New Mountain Finance Corporation (NMFC) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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