Last 47 quarters of trend data · Real Estate · REIT - Mortgage
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 4.55 | 7.12 | — | 4.48 | 6.56 | 11.26 | 8.27 | — | 8.59 | 8.31 | 20.38 | 3.71 | — | — | 1.68 | 90.87 | — | — | — | 64.23 | 16.93 |
| — | -36.7% | — | — | -23.6% | +35.5% | -59.4% | — | — | — | +1115.9% | -95.9% | — | — | — | +41.5% | — | — | — | +65.1% | +329.5% | |
| P/S Ratio | 0.89 | 1.01 | 1.10 | 2.78 | 1.33 | 1.30 | 3.61 | 6.33 | 4.11 | 3.75 | 4.75 | 2.66 | — | 33.29 | 2.60 | 8.01 | — | — | — | 7.46 | 4.83 |
| — | -22.0% | -69.6% | -56.1% | -67.7% | -65.4% | -24.0% | +138.0% | — | -88.7% | +82.7% | -66.7% | — | — | — | +7.3% | — | — | — | -33.8% | +14.2% | |
| P/B Ratio | 0.44 | 0.57 | 0.57 | 0.54 | 0.53 | 0.55 | 0.59 | 0.57 | 0.72 | 0.59 | 0.64 | 0.64 | 0.53 | 0.59 | 0.54 | 0.50 | 0.39 | 0.51 | 0.73 | 0.85 | 0.83 |
| — | +5.1% | -3.6% | -6.5% | -26.2% | -8.0% | -7.7% | -10.2% | +35.8% | +0.9% | +17.8% | +26.7% | +36.1% | +14.7% | -26.0% | -40.8% | -53.2% | -36.2% | -4.8% | +22.2% | +61.3% | |
| P/FCF | 10.24 | 1.98 | 3.55 | 6.51 | 16.43 | 6.48 | — | 2.37 | — | 6.02 | 5.62 | 79.50 | 6.15 | 3.61 | — | 43.67 | 1.31 | 3.62 | 3.24 | 10.84 | 127.41 |
| — | -69.4% | — | +174.9% | — | +7.6% | — | -97.0% | — | +66.6% | — | +82.0% | +370.3% | -0.2% | — | +302.7% | -99.0% | -76.3% | -86.9% | -55.1% | — | |
| EV / EBITDA | 16.70 | 16.77 | 13.48 | 9.58 | 10.26 | 10.45 | — | 939.18 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | +60.6% | — | -99.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 16.75 | 16.94 | 13.82 | 33.90 | 37.82 | 10.69 | — | 720.71 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | +58.5% | — | -95.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.2% | 95.8% | 95.4% | 91.6% | 42.3% | 33.4% | 100.0% | 73.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | +186.6% | -4.6% | +24.6% | -57.7% | -66.6% | 0.0% | -26.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | 78.8% | 74.0% | 58.7% | 217.8% | 96.8% | 85.1% | — | 4.4% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | -13.0% | — | +4839.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Net Margin | 20.2% | 18.6% | -0.4% | 61.7% | 26.4% | 17.3% | 55.1% | 14.2% | 58.5% | 56.2% | 36.7% | 78.7% | 248.9% | -301.4% | 69.4% | 21.4% | 236.6% | 270.5% | 151.1% | 60.8% | 118.3% |
| — | +7.4% | -100.8% | +335.1% | -54.9% | -69.3% | +49.8% | -82.0% | -76.5% | +118.6% | -47.0% | +267.4% | +5.2% | -211.4% | -54.1% | -64.8% | +100.0% | +202.6% | +37.8% | -48.2% | +6.1% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.6% | 2.6% | -0.1% | 3.0% | 2.6% | 1.8% | 2.2% | 0.3% | 2.6% | 2.2% | 1.2% | 4.8% | -3.0% | -1.3% | 3.6% | 0.3% | -2.6% | -4.5% | -3.4% | 1.7% | 5.2% |
| — | +45.2% | -102.4% | +837.6% | +3.1% | -18.6% | +82.4% | -93.4% | +186.0% | +270.2% | -66.2% | +1335.4% | -13.0% | +70.7% | +207.2% | -80.6% | -150.9% | -269.6% | -200.4% | -4.7% | +50.7% | |
| ROA | 1.4% | 0.3% | -0.0% | 0.4% | 0.4% | 0.3% | 0.4% | 0.1% | 0.4% | 0.4% | 0.2% | 0.9% | -0.6% | -0.3% | 0.8% | 0.1% | -0.6% | -1.0% | -0.9% | 0.5% | 1.7% |
| — | +21.7% | -102.1% | +724.6% | -6.6% | -25.1% | +67.5% | -93.9% | +176.2% | +240.4% | -72.9% | +1094.0% | +1.8% | +73.7% | +190.8% | -85.6% | -134.3% | -208.0% | -169.4% | -21.3% | +45.7% | |
| ROIC | 4.4% | 1.3% | 1.2% | 1.8% | 1.7% | 1.3% | — | 0.0% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | -0.1% | — | +13460.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.01 | 6.56 | 3.65 | 3.61 | 3.62 | 3.37 | 5.12 | 4.99 | 4.77 | 2.80 | 2.72 | 4.52 | 4.37 | 3.91 | 3.54 | 3.45 | 3.61 | 3.34 | 3.01 | 1.15 | 2.15 |
| — | +94.7% | -28.7% | -27.7% | -24.0% | +20.4% | +88.4% | +10.6% | +9.0% | -28.5% | -23.3% | +31.0% | +21.3% | +17.1% | +17.6% | +200.1% | +67.6% | +89.0% | +91.6% | +57.7% | +13.8% | |
| Debt / EBITDA | 15.88 | 62.39 | 48.11 | 34.33 | 37.28 | 37.40 | — | 3484.85 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | +66.8% | — | -99.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.18 | 333.16 | 4.57 | 2.25 | 1.70 | 2.25 | 38.19 | 30.45 | 38.42 | 2.53 | 2.45 | 51.40 | 49.86 | 55.77 | 55.68 | 62.94 | 57.64 | 55.42 | 50.32 | 36.66 | 60.02 |
| — | +14685.2% | -88.0% | -92.6% | -95.6% | -11.0% | +1457.2% | -40.8% | -22.9% | -95.5% | -95.6% | -18.3% | -13.5% | +0.6% | +10.7% | +71.7% | -4.0% | -31.6% | -43.7% | +5189.8% | -39.4% | |
| Quick Ratio | 2.18 | 333.16 | 4.57 | 2.25 | 1.70 | 2.25 | 38.19 | 30.45 | 38.42 | 2.53 | 2.45 | 51.40 | 49.86 | 55.77 | 55.68 | 62.94 | 57.64 | 55.42 | 50.32 | 36.66 | 60.02 |
| — | +14685.2% | -88.0% | -92.6% | -95.6% | -11.0% | +1457.2% | -40.8% | -22.9% | -95.5% | -95.6% | -18.3% | -13.5% | +0.6% | +10.7% | +71.7% | -4.0% | -31.6% | -43.7% | +5189.8% | -39.4% | |
| Interest Coverage | 1.34 | 1.34 | 0.99 | 0.40 | 0.37 | 1.26 | -0.01 | 0.03 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.02 | -0.06 | -0.08 | -0.09 | -0.11 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MFA stock.
MFA Financial, Inc.'s current P/E is 4.6x. The average P/E over the last 3 quarters is 6.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
MFA Financial, Inc.'s current operating margin is 78.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking MFA Financial, Inc.'s business trajectory between earnings reports.