MFA Financial Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	176.78	119.25	80.16	-231.58	328.87
Depreciation & Amortization	1.4	2.4	3.4	8.4	6.2
Other Amortization	0.8	0.8	0.8	0.8	0.4
Gain on Sale of Loans & Receivables	-137.61	-59.72	-106.35	839.45	-72.36
Loss (Gain) From Sale of Investments	4.07	6.71	86.77	-222.83	-76.7
Provision for Credit Losses	0.94	-1.95	-6.85	25.93	-48.36
Change in Other Net Operating Assets	11.85	16.59	-17.97	13.37	7.57
Other Operating Activities	11.13	118.77	78.28	-53.72	10.94
Operating Cash Flow	76.25	200.12	108.74	355.35	137.8
Operating Cash Flow Growth	-61.90%	84.04%	-69.40%	157.87%	258.90%
Cash Acquisitions	-	-	-	-	6.12
Investment in Securities	-1,826	-739.51	-530	68.78	157.3
Net Decrease (Increase) in Loans Originated / Sold - Investing	23.17	106.95	-1,124	-1,328	-2,504
Other Investing Activities	-78.85	121.82	-11.12	9.45	-30.9
Investing Cash Flow	-1,786	-424.6	-1,550	-1,116	-2,185
Long-Term Debt Issued	6,324	6,073	6,552	6,308	5,715
Long-Term Debt Repaid	-4,597	-5,522	-4,929	-5,123	-3,805
Net Debt Issued (Repaid)	1,727	550.88	1,624	1,185	1,910
Issuance of Preferred Stock	9.31	-	-	-	-
Issuance of Common Stock	-	-	-	1.18	1.83
Repurchase of Common Stock	-15.31	-1.49	-	-102.31	-85.59
Common Dividends Paid	-148.18	-143.87	-143.1	-184.04	-156.14
Preferred Dividends Paid	-40.32	-32.88	-32.88	-32.88	-32.88
Total Dividends Paid	-188.5	-176.75	-175.98	-216.91	-189.02
Other Financing Activities	-38.24	-35.07	-12.6	-16.39	-7.15
Financing Cash Flow	1,495	337.58	1,435	850.21	1,630
Net Cash Flow	-214.64	113.1	-5.87	89.63	-417.07
Free Cash Flow	76.25	200.12	108.74	355.35	137.8
Free Cash Flow Growth	-61.90%	84.04%	-69.40%	157.87%	310.94%
Free Cash Flow Margin	23.43%	71.57%	43.77%	-	30.69%
Free Cash Flow Per Share	0.73	1.90	1.05	3.44	1.16
Cash Interest Paid	508.31	516.22	418.14	239.19	116.97

Updated Feb 18, 2026. Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.

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