MidCap Financial Investment Corporation (MFIC) Financial Ratios
22 years of historical data (2004–2025) · Financial Services · Asset Management
EV/EBITDA
↓
14.78
↓-34% vs avg
5yr avg: 22.27
30Y Low3.6·High71.6
P/FCF
↑
9.03
+9% vs avg
5yr avg: 8.25
30Y Low1.9·High43.2
P/B Ratio
↓
0.71
↓-12% vs avg
5yr avg: 0.81
30Y Low0.3·High1.2
ROE
↓
4.7%
↑-35% vs avg
5yr avg: 7.2%
30Y Low-37%·High20%
Debt/EBITDA
↓
10.49
↓-29% vs avg
5yr avg: 14.73
30Y Low1.4·High36.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MFIC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MidCap Financial Investment Corporation trades at 14.6x earnings, roughly in line with its 5-year average of 13.9x, sitting at the 59th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 7%. On a free-cash-flow basis, the stock trades at 9.0x P/FCF, 9% above the 5-year average of 8.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $916M | $1.1B | $1.1B | $894M | $736M | $853M | $895M | $454M | $1.1B | $1.1B | $1.5B |
| Enterprise Value | $2.8B | $3.0B | $2.7B | $2.2B | $2.1B | $2.4B | $2.3B | $2.2B | $2.2B | $1.9B | $2.3B |
| P/E Ratio → | 14.60 | 16.82 | 10.62 | 7.52 | 24.26 | 10.33 | 8.02 | — | 14.84 | 13.16 | 78.72 |
| P/S Ratio | 3.34 | 3.89 | 4.65 | 3.77 | 5.20 | 5.62 | 4.92 | — | 12.73 | 12.82 | 83.31 |
| P/B Ratio | 0.71 | 0.82 | 0.75 | 0.89 | 0.75 | 0.85 | 0.86 | 0.44 | 0.81 | 0.80 | 0.98 |
| P/FCF | 9.03 | 10.52 | — | 4.55 | 9.68 | — | 1.90 | — | — | 4.33 | 2.27 |
| P/OCF | 9.03 | 10.52 | — | 4.55 | 9.68 | — | 1.90 | — | — | 4.33 | 2.27 |
P/E links to full P/E history page with 30-year chart
MFIC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MidCap Financial Investment Corporation's enterprise value stands at 14.8x EBITDA, 34% below its 5-year average of 22.3x. The Financial Services sector median is 11.4x, placing the stock at a 30% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.80 | 12.05 | 9.41 | 15.08 | 15.64 | 12.66 | — | 25.67 | 21.52 | 131.11 |
| EV / EBITDA | 14.78 | 15.57 | 27.60 | 18.81 | 20.57 | 28.81 | 20.62 | — | 16.54 | 13.67 | 29.38 |
| EV / EBIT | 14.30 | 15.57 | 27.60 | 18.81 | 20.61 | 28.81 | 20.62 | — | 16.56 | 13.68 | 29.39 |
| EV / FCF | — | 29.23 | — | 11.38 | 28.04 | — | 4.90 | — | — | 7.26 | 3.57 |
MFIC Profitability
Margins and return-on-capital ratios measuring operating efficiency
MidCap Financial Investment Corporation earns an operating margin of 71.6%, significantly above the Financial Services sector average of 20.3%. Operating margins have expanded from 50.0% to 71.6% over the past 3 years, signaling improving operational efficiency. ROE of 4.7% is modest, trailing the sector median of 9.0%. ROIC of 4.6% represents below-average returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.4% | 83.4% | 48.8% | 56.1% | 66.5% | 63.7% | 69.6% | 427.8% | 31.4% | 100.0% | 100.0% |
| Operating Margin | 71.6% | 71.6% | 43.7% | 50.0% | 73.1% | 54.3% | 61.4% | 518.4% | 155.0% | 157.3% | 446.1% |
| Net Profit Margin | 23.0% | 23.0% | 43.7% | 50.0% | 21.6% | 54.3% | 61.4% | 518.4% | 85.6% | 97.7% | 104.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.7% | 4.7% | 8.2% | 11.9% | 3.1% | 8.1% | 10.9% | -9.9% | 5.3% | 6.0% | 1.2% |
| ROA | 1.9% | 1.9% | 3.5% | 4.7% | 1.2% | 3.2% | 4.1% | -4.3% | 3.0% | 3.7% | 0.7% |
| ROIC | 4.6% | 4.6% | 2.6% | 3.6% | 3.1% | 2.4% | 3.2% | -3.3% | 4.2% | 4.6% | 2.2% |
| ROCE | 6.2% | 6.2% | 3.5% | 4.8% | 4.1% | 3.2% | 4.2% | -4.4% | 5.6% | 6.1% | 2.9% |
MFIC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MidCap Financial Investment Corporation carries a Debt/EBITDA ratio of 10.5x, which is highly leveraged (146% above the sector average of 4.3x). Net debt stands at $1.9B ($2.0B total debt minus $99M cash). Interest coverage of 1498.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.53 | 1.53 | 1.25 | 1.45 | 1.50 | 1.54 | 1.41 | 1.75 | 0.86 | 0.56 | 0.57 |
| Debt / EBITDA | 10.49 | 10.49 | 17.73 | 12.31 | 14.31 | 18.83 | 13.10 | — | 8.65 | 5.64 | 10.86 |
| Net Debt / Equity | — | 1.45 | 1.19 | 1.33 | 1.41 | 1.51 | 1.36 | 1.71 | 0.83 | 0.55 | 0.56 |
| Net Debt / EBITDA | 9.96 | 9.96 | 16.96 | 11.28 | 13.47 | 18.45 | 12.61 | — | 8.34 | 5.53 | 10.71 |
| Debt / FCF | — | 18.70 | — | 6.82 | 18.36 | — | 3.00 | — | — | 2.94 | 1.30 |
| Interest Coverage | 1497.99 | 1497.99 | 0.85 | 1.14 | 1.31 | 1.50 | 2.02 | -1.58 | 2.23 | 2.64 | 1.31 |
MFIC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.04x means MidCap Financial Investment Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 10.19x to 1.04x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.04 | 1.04 | 9.00 | 10.19 | 2.40 | 2.28 | 2.88 | 2.16 | 1.85 | 0.56 | 1.38 |
| Quick Ratio | 1.04 | 1.04 | 9.00 | 10.19 | 2.40 | 2.28 | 2.88 | 2.16 | 1.85 | 0.56 | 1.38 |
| Cash Ratio | 0.80 | 0.80 | 4.46 | 8.43 | 1.83 | 1.17 | 2.13 | 1.35 | 1.10 | 0.19 | 0.21 |
| Asset Turnover | — | 0.08 | 0.07 | 0.09 | 0.06 | 0.06 | 0.07 | -0.01 | 0.03 | 0.04 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MFIC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MidCap Financial Investment Corporation returns 17.4% to shareholders annually — split between a 15.3% dividend yield and 2.1% buyback yield. The payout ratio exceeds 100% at 224.1%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 6.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 15.3% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 224.1% | 224.1% | 141.3% | 104.0% | 218.1% | 113.3% | 94.5% | — | 177.9% | 151.1% | 852.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 5.9% | 9.4% | 13.3% | 4.1% | 9.7% | 12.5% | — | 6.7% | 7.6% | 1.3% |
| FCF Yield | 11.1% | 9.5% | — | 22.0% | 10.3% | — | 52.6% | — | — | 23.1% | 44.0% |
| Buyback Yield | 2.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 17.4% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $93M | $78M | $65M | $65M | $65M | $65M | $67M | $71M | $73M | $74M |
Peer Comparison
Compare MFIC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MFICYou | $916M | 14.6 | 14.8 | 9.0 | 83.4% | 71.6% | 4.7% | 4.6% | 10.5 |
 ARCC | $13B | 9.7 | 12.8 | 11.3 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 FSCO | $997M | 6.5 | 5.7 | 1.9 | 79.3% | 74.5% | 10.5% | 6.4% | 1.9 |
 GBDC | $3B | 8.7 | 11.8 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 OBDC | $5B | 8.8 | 11.8 | 3.1 | 75.3% | 73.2% | 9.4% | 6.1% | 7.5 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CGBD | $761M | 10.8 | 12.8 | — | 70.9% | 86.2% | 6.8% | 5.6% | 8.7 |
 FSK | $3B | 261.3 | 13.6 | 4.9 | 69.6% | 49.5% | 0.2% | 3.2% | 10.1 |
 PSEC | $1B | -1.6 | — | 2.1 | 147.0% | 169.8% | -14.0% | -6.3% | — |
 MAIN | $5B | 9.2 | 13.6 | 13.6 | 100.0% | 80.7% | 17.0% | 7.5% | 4.7 |
 HTGC | $3B | 8.4 | 14.1 | — | 87.2% | 66.7% | 16.2% | 6.6% | 6.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
MFIC — Frequently Asked Questions
Quick answers to the most common questions about buying MFIC stock.
What is MidCap Financial Investment Corporation's P/E ratio?
MidCap Financial Investment Corporation's current P/E ratio is 14.6x. The historical average is 17.1x. This places it at the 59th percentile of its historical range.
What is MidCap Financial Investment Corporation's EV/EBITDA?
MidCap Financial Investment Corporation's current EV/EBITDA is 14.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.3x.
What is MidCap Financial Investment Corporation's ROE?
MidCap Financial Investment Corporation's return on equity (ROE) is 4.7%. The historical average is 4.1%.
Is MFIC stock overvalued?
Based on historical data, MidCap Financial Investment Corporation is trading at a P/E of 14.6x. This is at the 59th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is MidCap Financial Investment Corporation's dividend yield?
MidCap Financial Investment Corporation's current dividend yield is 15.29% with a payout ratio of 224.1%.
What are MidCap Financial Investment Corporation's profit margins?
MidCap Financial Investment Corporation has 83.4% gross margin and 71.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does MidCap Financial Investment Corporation have?
MidCap Financial Investment Corporation's Debt/EBITDA ratio is 10.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.