Saturday 17 October 2026
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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. In the quarter to June 2026, revenue fell 16.0%, EPS fell 210.5%, free cash flow grew 308.0% and total debt fell 15.2%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
8.34
0.16
−1.88%
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| Mar '18 | Mar '19 | Mar '20 | Mar '21 | Mar '22 | Dec '22 | Mar '23 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 3 | 2 | 7 | 3 | — | — | — | — | 3 |
P/E ratio |
13.23 | 15.09 | 0.00 | 7.98 | 10.41 | — | 13.90 | 7.43 | 10.30 | 17.33 |
P/S ratio |
4.46 | 4.22 | 1.64 | 4.13 | 3.95 | — | 3.07 | 3.20 | 3.48 | 3.32 |
P/FCF ratio |
3.03 | 0.00 | 0.00 | 1.02 | 0.00 | — | 4.02 | 4.50 | 0.00 | 0.00 |
P/Operating CF |
4.38 | (8.12) | (0.94) | 1.90 | 16.06 | — | 16.27 | 11.27 | 19.20 | 168.46 |
P/B ratio |
0.82 | 0.82 | 0.44 | 0.86 | 0.84 | — | 0.75 | 0.88 | 0.75 | 0.82 |
Price to Tangible BV |
0.82 | 0.82 | 0.44 | 0.86 | 0.84 | — | 0.75 | 0.88 | 0.75 | 0.82 |
EV/Sales |
7.45 | 8.50 | 7.98 | 10.66 | 11.08 | — | 8.82 | 8.15 | 9.04 | 9.24 |
EV/EBITDA |
8.76 | 10.16 | 4.69 | 17.32 | 19.91 | — | 9.91 | 10.47 | 13.44 | 10.01 |
EV/Operating CF |
5.06 | (12.13) | (2.23) | 2.64 | (882.74) | — | 11.58 | 11.47 | (286.29) | (59.58) |
EV/FCF |
5.06 | (12.13) | (2.23) | 2.64 | (882.74) | — | 11.58 | 11.47 | (286.29) | (59.58) |
Quick Ratio |
0.42 | 1.31 | 1.38 | 1.95 | 1.58 | 2.31 | — | 4.43 | 5.29 | 6.54 |
Current Ratio |
0.42 | 1.32 | 1.39 | 1.98 | 1.60 | 2.35 | — | 4.43 | 5.29 | 6.65 |
Net Debt/EBITDA |
(27.90) | 5.76 | 3.75 | 10.43 | 14.90 | 0.00 | 0.00 | 6.36 | 8.26 | 6.41 |
Debt/Assets |
34.17% | 45.19% | 62.51% | 57.59% | 59.64% | 58.74% | 0.00% | 58.46% | 54.89% | 60.03% |
Debt/Equity |
0.56 | 0.86 | 1.75 | 1.41 | 1.54 | 1.50 | — | 1.45 | 1.25 | 1.53 |
Asset Turnover |
0.11 | 0.11 | 0.10 | 0.08 | 0.08 | 0.00 | 0.17 | 0.11 | 0.11 | 0.10 |
Operating CF/Net income |
3.03 | (1.84) | 4.16 | 4.21 | (0.03) | — | (0.03) | 1.65 | (0.10) | (0.79) |
Capex/Depreciation |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
Interest Coverage |
3.50 | 3.18 | 2.97 | 2.98 | 2.74 | — | 2.74 | 2.11 | 2.15 | 2.12 |
| 6.00% | 5.27% | (9.93%) | 10.86% | 8.07% | 0.00% | 0.00% | 11.92% | 8.20% | 4.66% | |
| 3.69% | 2.99% | (4.32%) | 4.13% | 3.20% | 0.00% | 6.52% | 4.73% | 3.47% | 1.94% | |
ROIC |
5.29% | 4.82% | 4.90% | 4.21% | 3.73% | 0.00% | 0.00% | 5.80% | 5.05% | 5.25% |
Return on Tangible Assets |
(152.12%) | 461.73% | (649.96%) | 325.96% | 369.00% | 0.00% | 0.00% | 128.72% | 80.40% | 56.79% |
Average Days of Receivables |
38.03 | 40.59 | 33.17 | 30.78 | 49.02 | 0.00 | 0.00 | 33.74 | 93.36 | 34.76 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
35.93% | 29.43% | 21.19% | 23.85% | 29.45% | — | 29.45% | 20.94% | 17.66% | 16.60% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.74) | (1.04) | (3.93) | (1.61) | (1.82) | — | (1.88) | (1.56) | (1.55) | (1.77) |
Graham Number |
22.92 | 20.55 | 0.00 | 24.79 | 21.24 | — | 16.73 | 25.10 | 23.05 | 14.43 |
Earnings Yield |
7.56% | 6.63% | (26.22%) | 12.54% | 9.61% | — | 7.19% | 13.45% | 9.71% | 5.77% |
Free Cash Flow Yield |
33.02% | (16.61%) | (218.81%) | 97.63% | (0.32%) | — | 24.86% | 22.22% | (0.91%) | (4.66%) |
Revenue per Share |
3.56 | 3.61 | 4.12 | 3.32 | 3.30 | — | 3.35 | 4.23 | 3.87 | 3.44 |
Operating CF per Share |
3.62 | (1.88) | (7.18) | 7.21 | (0.04) | — | (0.04) | 3.01 | (0.12) | (0.53) |
Capex per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
Free Cash Flow per Share |
3.62 | (1.88) | (7.18) | 7.21 | (0.04) | — | (0.04) | 3.01 | (0.12) | (0.53) |
Cash per Share |
0.19 | 0.51 | 0.55 | 0.77 | 0.47 | 0.00 | 0.00 | 1.43 | 0.95 | 1.05 |
Shareholders Equity per Share |
19.46 | 18.58 | 15.24 | 15.88 | 15.57 | 0.00 | 0.00 | 15.39 | 18.02 | 14.02 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
19.46 | 18.58 | 15.24 | 15.88 | 15.57 | 0.00 | 0.00 | 15.39 | 18.02 | 14.02 |
Free Cash Flow |
263.80 | (132.63) | (482.46) | 470.67 | (2.68) | — | (2.68) | 196.38 | (9.53) | (49.75) |
Working Capital |
(57.21) | 15.58 | 17.86 | 34.32 | 22.32 | 64.04 | — | 92.26 | 122.90 | 111.23 |
Net Current Asset Value |
(852.26) | (1,120.19) | (1,783.55) | (1,438.79) | (1,535.91) | (1,425.79) | — | (1,376.88) | (1,634.75) | (1,885.47) |
EV/EBIT |
10.40 | 11.69 | 10.13 | 14.00 | 15.67 | — | 11.49 | 10.23 | 10.95 | 11.02 |
Capex to Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
5.66 | 5.28 | 1.95 | 5.03 | 4.98 | — | 3.99 | 4.01 | 4.22 | 3.97 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
Cash ROIC |
11.87% | (5.35%) | (16.89%) | 18.44% | (0.10%) | 0.00% | 0.00% | 7.67% | (0.30%) | (1.46%) |
Accounts Receivable Turnover |
5.71 | 9.21 | 10.35 | 9.98 | 9.09 | 0.00 | 0.00 | 10.91 | 5.87 | 5.96 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 |
Average Receivables |
45.40 | 27.69 | 26.76 | 21.72 | 23.45 | 26.87 | — | 25.33 | 51.38 | 53.88 |
Average Payables |
66.91 | 58.56 | 34.89 | 28.92 | 25.92 | 32.01 | — | 26.13 | 15.75 | 15.21 |
Average Assets |
2,360.97 | 2,404.80 | 2,684.43 | 2,707.77 | 2,572.31 | 2,562.82 | 1,262.76 | 2,513.42 | 2,846.14 | 3,257.30 |
Average Common Equity |
1,449.94 | 1,365.36 | 1,168.47 | 1,030.32 | 1,020.58 | 996.47 | — | 996.71 | 1,204.98 | 1,355.95 |
Columns are period end dates