MFA Financial Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	128.37	119.25	80.16	-231.58	328.87	-679.39
Depreciation & Amortization	1.3	2.4	3.4	8.4	6.2	2.6
Other Amortization	1.4	0.8	0.8	0.8	0.4	-
Gain on Sale of Loans & Receivables	-34.49	-59.72	-106.35	839.45	-72.36	257.37
Loss (Gain) From Sale of Investments	-0.46	6.71	86.77	-222.83	-76.7	411.25
Provision for Credit Losses	1.61	-1.95	-6.85	25.93	-48.36	22.12
Change in Other Net Operating Assets	49.89	16.59	-17.97	13.37	7.57	-10.87
Other Operating Activities	-1.75	118.77	78.28	-53.72	10.94	37.81
Operating Cash Flow	150.07	200.12	108.74	355.35	137.8	38.4
Operating Cash Flow Growth	62.25%	84.04%	-69.40%	157.87%	258.90%	-82.21%
Capital Expenditures	-	-	-	-	-	-4.86
Cash Acquisitions	-	-	-	-	6.12	-
Investment in Securities	-1,051	-739.51	-530	68.78	157.3	4,260
Net Decrease (Increase) in Loans Originated / Sold - Investing	144.32	106.95	-1,124	-1,328	-2,504	1,859
Other Investing Activities	18.53	121.82	-11.12	9.45	-30.9	-
Investing Cash Flow	-795.83	-424.6	-1,550	-1,116	-2,185	6,384
Long-Term Debt Issued	-	6,073	6,552	6,308	5,715	17,811
Long-Term Debt Repaid	-	-5,522	-4,929	-5,123	-3,805	-23,544
Net Debt Issued (Repaid)	906.88	550.88	1,624	1,185	1,910	-5,733
Issuance of Preferred Stock	4.53	-	-	-	-	275
Issuance of Common Stock	-	-	-	1.18	1.83	7.44
Repurchase of Common Stock	-10.27	-1.49	-	-102.31	-85.59	-50.84
Common Dividends Paid	-146.88	-143.87	-143.1	-184.04	-156.14	-113.51
Preferred Dividends Paid	-37.83	-32.88	-32.88	-32.88	-32.88	-29.8
Total Dividends Paid	-184.71	-176.75	-175.98	-216.91	-189.02	-143.3
Other Financing Activities	-36.62	-35.07	-12.6	-16.39	-7.15	-90.28
Financing Cash Flow	679.82	337.58	1,435	850.21	1,630	-5,735
Net Cash Flow	34.06	113.1	-5.87	89.63	-417.07	686.86
Free Cash Flow	150.07	200.12	108.74	355.35	137.8	33.53
Free Cash Flow Growth	62.25%	84.04%	-69.40%	157.87%	310.94%	-84.32%
Free Cash Flow Margin	53.79%	71.57%	46.46%	-	30.69%	-
Free Cash Flow Per Share	1.43	1.90	1.05	3.44	1.16	0.30
Cash Interest Paid	504.06	516.22	418.14	239.19	116.97	254.27

Updated Nov 6, 2025. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

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