New Mountain Finance Corporation (NMFC) Financial Ratios
18 years of historical data (2008–2025) · Financial Services · Asset Management
EV/EBITDA
↓
7.90
↓-66% vs avg
5yr avg: 23.04
30Y Low8.9·High48.8
P/FCF
↓
2.13
↓-90% vs avg
5yr avg: 21.44
30Y Low2.9·High34.0
P/B Ratio
↓
0.87
↓-19% vs avg
5yr avg: 1.07
30Y Low0.5·High2.8
ROE
↓
1.3%
↑-84% vs avg
5yr avg: 8.2%
30Y Low-4%·High93%
Debt/EBITDA
↓
5.51
↓-59% vs avg
5yr avg: 13.51
30Y Low3.1·High29.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NMFC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
New Mountain Finance Corporation trades at 60.9x earnings, 175% above its 5-year average of 22.2x, sitting at the 93rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 356%. On a free-cash-flow basis, the stock trades at 2.1x P/FCF, 90% below the 5-year average of 21.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $806M | $1.1B | $1.4B | $1.6B | $1.4B | $1.5B | $1.3B | $1.4B | $1.1B | $1.1B | $1.0B |
| Enterprise Value | $2.4B | $2.7B | $3.2B | $3.3B | $3.3B | $3.4B | $3.0B | $3.3B | $2.4B | $2.0B | $1.7B |
| P/E Ratio → | 60.93 | 65.79 | 10.93 | 10.26 | 16.72 | 7.17 | 18.93 | 11.26 | 13.82 | 9.82 | 8.81 |
| P/S Ratio | 2.18 | 3.01 | 4.33 | 4.59 | 4.11 | 5.65 | 4.62 | 4.98 | 5.03 | 7.20 | 6.79 |
| P/B Ratio | 0.87 | 0.94 | 1.05 | 1.18 | 1.08 | 1.12 | 1.01 | 1.08 | 0.48 | 0.61 | 0.65 |
| P/FCF | 2.13 | 2.94 | 33.99 | 20.67 | 20.36 | 29.21 | 12.14 | 20.74 | — | — | 16.98 |
| P/OCF | 2.13 | 2.94 | 33.99 | 20.67 | 20.36 | 29.21 | 12.14 | 20.74 | — | — | 16.98 |
P/E links to full P/E history page with 30-year chart
NMFC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
New Mountain Finance Corporation's enterprise value stands at 7.9x EBITDA, 66% below its 5-year average of 23.0x. The Financial Services sector median is 11.4x, placing the stock at a 31% discount 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 | — | 7.31 | 9.65 | 9.61 | 9.61 | 12.58 | 10.96 | 11.80 | 11.04 | 12.48 | 11.09 |
| EV / EBITDA | 7.90 | 8.92 | 27.24 | — | 39.81 | 16.19 | 48.80 | 29.09 | 33.67 | 17.96 | 15.09 |
| EV / EBIT | 17.04 | 19.17 | 12.56 | 12.51 | 39.81 | 11.97 | 48.80 | 29.09 | 33.67 | 17.96 | 15.09 |
| EV / FCF | — | 7.14 | 75.81 | 43.24 | 47.60 | 64.99 | 28.83 | 49.20 | — | — | 27.73 |
NMFC Profitability
Margins and return-on-capital ratios measuring operating efficiency
New Mountain Finance Corporation earns an operating margin of 38.0%, significantly above the Financial Services sector average of 21.2%. Operating margins have compressed from 76.8% to 38.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 1.3% is modest, trailing the sector median of 9.4%. ROIC of 3.5% represents below-average returns on invested capital versus a sector median of 5.7%.
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 | 83.6% | 83.6% | 75.0% | 75.5% | 78.1% | 72.4% | 21.0% | 39.3% | 34.2% | 69.6% | 74.7% |
| Operating Margin | 38.0% | 38.0% | 76.9% | 76.8% | 50.8% | 105.0% | 22.5% | 40.6% | 32.8% | 69.5% | 73.5% |
| Net Profit Margin | 4.5% | 4.5% | 34.4% | 39.6% | 21.5% | 75.4% | 21.6% | 40.6% | 32.6% | 69.2% | 73.8% |
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 | 1.3% | 1.3% | 8.4% | 10.2% | 5.6% | 15.6% | 4.6% | 6.2% | 3.4% | 6.3% | 9.2% |
| ROA | 0.5% | 0.5% | 3.5% | 4.2% | 2.2% | 6.3% | 1.8% | 3.9% | 3.3% | 6.1% | 6.9% |
| ROIC | 3.5% | 3.5% | 6.0% | 6.1% | 4.0% | 6.7% | 1.5% | 2.4% | 1.7% | 3.3% | 4.3% |
| ROCE | 4.8% | 4.8% | 8.0% | 8.1% | 5.3% | 8.9% | 1.9% | 4.5% | 4.6% | 8.3% | 9.9% |
NMFC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
New Mountain Finance Corporation carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (33% above the sector average of 4.1x). Net debt stands at $1.6B ($1.7B total debt minus $81M cash). Interest coverage of just 1.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.41 | 1.41 | 1.35 | 1.34 | 1.49 | 1.42 | 1.45 | 1.51 | 0.59 | 0.47 | 0.44 |
| Debt / EBITDA | 5.51 | 5.51 | 15.71 | — | 23.63 | 9.20 | 29.54 | 17.26 | 19.02 | 7.92 | 6.27 |
| Net Debt / Equity | — | 1.34 | 1.29 | 1.29 | 1.44 | 1.38 | 1.39 | 1.48 | 0.57 | 0.45 | 0.41 |
| Net Debt / EBITDA | 5.25 | 5.25 | 15.03 | — | 22.78 | 8.92 | 28.25 | 16.82 | 18.34 | 7.60 | 5.85 |
| Debt / FCF | — | 4.20 | 41.82 | 22.57 | 27.23 | 35.78 | 16.69 | 28.45 | — | — | 10.76 |
| Interest Coverage | 1.14 | 1.14 | 1.86 | 2.10 | 0.91 | 3.84 | 0.77 | 1.34 | 1.28 | 2.96 | 3.91 |
NMFC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.57x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 5.59x to 0.57x 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 | 0.57 | 0.57 | 7.18 | 5.59 | 5.47 | 3.52 | 2.75 | 4.42 | 0.11 | 0.14 | 0.14 |
| Quick Ratio | 0.57 | 0.57 | 7.18 | 5.59 | 5.47 | 3.52 | 2.75 | 4.42 | 0.11 | 0.14 | 0.14 |
| Cash Ratio | 0.37 | 0.37 | 4.69 | 3.43 | 3.63 | 2.30 | 1.86 | 2.66 | 0.07 | 0.07 | 0.10 |
| Asset Turnover | — | 0.13 | 0.10 | 0.11 | 0.10 | 0.08 | 0.09 | 0.08 | 0.09 | 0.08 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
NMFC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
New Mountain Finance Corporation returns 19.6% to shareholders annually — split between a 13.1% dividend yield and 6.4% buyback yield. The payout ratio exceeds 100% at 823.0%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 1.6% (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 | 13.1% | 12.2% | 0.1% | 9.6% | 8.5% | 7.6% | 9.6% | 8.2% | 9.1% | 8.3% | 8.4% |
| Payout Ratio | 823.0% | 823.0% | 1.6% | — | — | — | — | — | 139.7% | 86.1% | 76.8% |
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 | 1.6% | 1.5% | 9.1% | 9.7% | 6.0% | 13.9% | 5.3% | 8.9% | 7.2% | 10.2% | 11.3% |
| FCF Yield | 47.0% | 34.0% | 2.9% | 4.8% | 4.9% | 3.4% | 8.2% | 4.8% | — | — | 5.9% |
| Buyback Yield | 6.4% | 4.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Total Shareholder Yield | 19.6% | 16.8% | 0.1% | 9.6% | 8.5% | 7.6% | 9.6% | 8.2% | 9.1% | 8.3% | 8.6% |
| Shares Outstanding | — | $121M | $127M | $123M | $115M | $110M | $110M | $100M | $89M | $84M | $73M |
Peer Comparison
Compare NMFC 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 |
|---|---|---|---|---|---|---|---|---|---|
 NMFCYou | $806M | 60.9 | 7.9 | 2.1 | 83.6% | 38.0% | 1.3% | 3.5% | 5.5 |
 ARCC | $14B | 10.3 | 13.2 | 12.0 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 FSCO | $1B | 5.5 | 6.6 | 15.5 | 81.3% | 77.5% | 13.5% | 8.1% | 2.3 |
 GBDC | $3B | 9.4 | 12.1 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $226M | 4.6 | 8.9 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CGBD | $866M | 7.5 | 19.7 | 8.3 | 59.2% | 54.7% | 9.8% | 3.7% | 10.6 |
 OCSL | $1B | 32.1 | 16.6 | 7.7 | 87.2% | 50.4% | 2.3% | 3.7% | 9.8 |
 FSK | $3B | 290.6 | 14.1 | 5.4 | 69.6% | 49.5% | 0.2% | 3.2% | 10.1 |
 BBDC | $963M | 9.5 | 12.2 | 6.0 | 74.0% | 85.2% | 8.7% | 6.1% | 7.5 |
 SLRC | $761M | 8.2 | 11.6 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 PFLT | $914M | 12.8 | 38.0 | 9.6 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonNMFC — Frequently Asked Questions
Quick answers to the most common questions about buying NMFC stock.
What is New Mountain Finance Corporation's P/E ratio?
New Mountain Finance Corporation's current P/E ratio is 60.9x. The historical average is 17.1x. This places it at the 93th percentile of its historical range.
What is New Mountain Finance Corporation's EV/EBITDA?
New Mountain Finance Corporation's current EV/EBITDA is 7.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.5x.
What is New Mountain Finance Corporation's ROE?
New Mountain Finance Corporation's return on equity (ROE) is 1.3%. The historical average is 13.1%.
Is NMFC stock overvalued?
Based on historical data, New Mountain Finance Corporation is trading at a P/E of 60.9x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is New Mountain Finance Corporation's dividend yield?
New Mountain Finance Corporation's current dividend yield is 13.14% with a payout ratio of 823.0%.
What are New Mountain Finance Corporation's profit margins?
New Mountain Finance Corporation has 83.6% gross margin and 38.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does New Mountain Finance Corporation have?
New Mountain Finance Corporation's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.