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MidCap Financial Investment Corporation

MFIC Financial Asset Management

MidCap Financial Investment Corporation’s revenue for fiscal 2025 (year ended December 2025) was $320.9 million, up 6.33% from fiscal 2024.

Revenue
−24.9%
EPS
−169.0%
Free cash flow
+21.9%
Total debt
−17.6%

Quarter to September 2026, against a year earlier

10.25 0.02 −0.19%
Market cap
$846.0M
P/E
0.0×
Fwd P/E
56.7×
Dividend yield
12.7%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.77%

Capital & Financial Ratios $m

Size
Market Cap 845.97
Revenue ttm 280.39
Net income ttm (73.54)
Free cash flow ttm 567.74
Net debt Q 1,520.34
Valuation
P/E 0.00
Forward P/E 56.70 (above 35: high)
Price / sales 3.02
Forward P/S Powerpack
Price / FCF 1.49
Price / book 0.80
Financial health
Current ratio Q 3.78
Debt / equity Q 1.49
Interest coverage Q 0.00
Growth
Revenue growth Q −24.94% (below 0%: shrinking)
Operating income growth Q −12.98% (below 0%: shrinking)
EPS, this year −3.77% (below 0%: weak)
EPS, next year A −14.63% (below 0%: weak)
Revenue, next year A −16.82% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −7.83% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 13.71%
10-year low 10-year high
P/B against its own 10 years 29.67%
10-year low 10-year high

Dividends

Yield
12.7%
Annual rate
1.31
Payout ratio
—
Growth, 2017–25
−2.09%/yr
  1. 1.80 ’17
  2. 1.80 ’18 +0
  3. 1.80 ’19 +0
  4. 1.62 ’20 −10
  5. 0.98 ’21 −40
  6. 1.00 ’22 +2
  7. 1.52 ’23 +52
  8. 1.52 ’24 +0
  9. 1.52 ’25 +0
  10. 1.24 ’26e −18
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 94 74 98 57
Receivables 26 77 31 —
Inventory — — — —
Other — — — —
119 152 131 —
2023 2024 2025 Q'26
Payables 14 17 13 12
ST’ Debt — — — —
Other 11 12 6 5
27 29 20 18

Compound Annual Growth %

10y 5y 3y
Sales (1.67%) 8.16% 14.61%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% (10.80%) (8.46%)
Book Value (2.28%) 4.75% 9.78%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.36 Actual 0.40

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.38 0.38 Met by 0.00
Q4 FY25 0.37 0.39 Beat by 0.02
Q1 FY26 0.36 0.38 Beat by 0.02
Q2 FY26 0.36 0.40 Beat by 0.04
Q3 FY26 0.37 — Reports 5 November 2026

EPS $

Jun Sep Dec Mar Year
’26 (0.21) (0.20) — (0.30) —
’25 0.19 0.29 (0.14) 0.32 0.68
’24 0.35 0.31 0.26 0.39 1.27
’23 0.09 0.25 0.02 0.46 1.82
’22 0.49 0.39 0.32 0.07 1.28
’21 0.05 0.51 0.51 0.65 1.71
’20 0.35 0.10 0.00 (2.22) (1.73)
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 68 62 — 72 —
’25 81 83 78 79 321
’24 69 82 82 68 302
’23 69 68 72 — 277
’23 53 59 63 68 213
’22 51 53 55 55 213
’21 57 55 54 51 217
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 169 189 203 — —
’25 (131) (91) 166 6 (50)
’24 9 (64) (10) 55 (10)
’23 — 8 64 78 196
’23 46 (22) 109 — (3)
’22 52 (5) (104) 54 (3)
’21 471 71 179 154 471
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 169 189 203 — —
’25 (131) (91) 166 6 (50)
’24 9 (64) (10) 55 (10)
’23 — 8 64 78 196
’23 46 (22) 109 — (3)
’22 52 (5) (104) 54 (3)
’21 471 71 179 154 471
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 380 280 259 255 277 217 213 277 302 321 280 (1.9%) 267 240 198 (14.8%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT (45) 18 87 72 (116) 112 82 119 99 63 (74) n/m
EBT margin, % (11.73) 6.56 33.56 28.21 (41.91) 51.61 38.64 42.95 32.75 19.69 (26.23) +31.4 pt
Net income (45) 18 87 72 (116) 112 0 119 99 63 (74) n/m
Per share, $
Per share, $ Revenue 4.90 3.77 3.56 3.61 4.12 3.32 3.30 4.23 3.87 3.44 3.40 (3.9%)
Earnings (0.57) 0.25 1.19 1.02 (1.73) 1.71 1.28 1.82 1.27 0.68 (0.85) n/m
Cash flow 5.63 8.67 3.62 (1.88) (7.18) 7.21 (0.04) 3.01 (0.12) (0.53) 6.89 n/m
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 5.63 8.67 3.62 (1.88) (7.18) 7.21 (0.04) 3.01 (0.12) (0.53) 6.89 n/m
Book value 21.23 19.99 19.46 18.58 15.24 15.88 0.00 15.39 18.02 14.02 12.86 (4.5%)
Shares, m 78 74 73 71 67 65 65 65 78 93 87 +2.1%
Valuation, ×
Valuation, × P/E 0.00 82.00 13.23 15.09 0.00 7.98 10.41 7.43 10.30 17.33 0.00 16.4
P/S 3.40 5.21 4.46 4.22 1.64 4.13 3.95 3.20 3.48 3.32 3.02 3.7
P/B 0.78 0.98 0.82 0.82 0.44 0.86 0.84 0.88 0.75 0.82 0.80 0.8
EV/Sales 6.81 8.21 7.45 8.50 7.98 10.66 11.08 8.15 9.04 9.24 — 8.7
EV/FCF 3.44 2.08 5.06 (12.13) (2.23) 2.64 (882.74) 11.47 (286.29) (59.58) — (121.8)
Cash, $m
Cash, $m Operating cash flow 436 642 264 (133) (482) 471 (3) 196 (10) (50) 568 n/m
Capex — — — — — — — — — — — —
Free cash flow 436 642 264 (133) (482) 471 (3) 196 (10) (50) 568 n/m
Balance, $m
Balance, $m Working capital 34 1 (57) 16 18 34 64 92 123 111 50 +14.1%
Net debt 1,296 839 776 1,092 1,757 1,415 1,399 1,369 1,677 1,897 1,520 +4.3%
Shareholders’ equity 1,646 1,482 1,418 1,313 1,024 1,036 988 1,005 1,405 1,307 1,059 (2.5%)
Returns, %
Returns, % ROA (1.34) 0.67 3.69 2.99 (4.32) 4.13 0.00 4.73 3.47 1.94 (2.47) +3.3 pt
ROIC 5.82 5.62 5.29 4.82 4.90 4.21 0.00 5.80 5.05 5.25 0.00 (0.6) pt
ROE (2.49) 1.17 6.00 5.27 (9.93) 10.86 0.00 11.92 8.20 4.66 (6.06) +7.2 pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

MidCap Financial Investment Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BBDC BARINGS BDC, INC. $915.1M 10.3× 9.9× −11.20% (below 0%: shrinking) +9.09% (above 0%: growing) −250.65% (below 0%: shrinking) 100.00% 0.00% Compare
BUR Burford Capital Limited $869.6M — (loss-making) — (loss-making) +110.46% (above 0%: growing) n/m −531.48% (below 0%: shrinking) 100.00% 66.57% Compare
MFIC MidCap Financial Investment Corporation $846.0M — (loss-making) 56.7× −24.94% (below 0%: shrinking) n/m +21.89% (above 0%: growing) 100.00% 0.00%
KBDC Kayne Anderson BDC, Inc. $841.3M 15.2× 10.9× −2.78% (below 0%: shrinking) −71.43% (below 0%: shrinking) +221.15% (above 0%: growing) 86.61% 84.68% Compare
VRTS Virtus Investment Partners, Inc. $827.0M 7.0× — (loss-making) −4.35% (below 0%: shrinking) +9.87% (above 0%: growing) −24.42% (below 0%: shrinking) 100.00% 13.57% Compare
FDUS Fidus Investment Corporation $775.5M 9.4× 9.4× +23.25% (above 0%: growing) −3.24% (below 0%: shrinking) +118.22% (above 0%: growing) 100.00% 71.60% Compare
CGBD Carlyle Secured Lending, Inc. $749.3M 20.7× 16.5× −4.97% (below 0%: shrinking) n/m +7.08% (above 0%: growing) 100.00% 0.00% Compare
PSEC Prospect Capital Corporation $739.3M — (loss-making) 4.2× −3.73% (below 0%: shrinking) n/m +36.81% (above 0%: growing) 74.32% 70.51% Compare
BCSF Bain Capital Specialty Finance, Inc. $724.6M 11.3× 10.3× −12.14% (below 0%: shrinking) −40.54% (below 0%: shrinking) +10,857.59% (above 0%: growing) 100.00% 80.20% Compare
Median of peers $801.3M 10.8× 10.1× −4.04% −3.24% +21.94% 100.00% 68.54%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 30 April 2026

Ownership

Directors and executive officers, together 0.91%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MidCap Financial Investment Corporation (MFIC) Latest News

5 Nov

Impact 4 · · GlobeNewswire

30 Oct

Impact 4 · · GlobeNewswire

28 Oct

Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 4 · · The Motley Fool

27 Oct

Impact 4 · · Moby
Impact 4 · · InvestorsHub
Impact 4 · · MT Newswires
Impact 4 · · The Motley Fool
Impact 4 · · Business Wire
Impact 3 · · MarketBeat

6 Aug

Impact 3 · transcript
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·

8 May

Impact 4 · · MarketBeat

7 May

Impact 4 · · Barrons.com

6 May

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

27 Feb

Impact 4 · · MarketBeat
Impact 3 ·
Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby

26 Feb

Impact 4 · · Zacks
Impact 4 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceMT Newswires
Impact 3 · · Bloomberg
Impact 3 · · GlobeNewswire

6 Nov

Impact 3 · · ZacksAssociated Press FinanceZacksMT NewswiresZacksZacksZacksZacks
Impact 3 · · Associated Press Finance
stockrow.com/MFIC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com