New Mountain Finance Corporation (NMFC) Income Statement
NMFC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNMFC revenue and net income
Where NMFC's revenue goes
2025Each bar shows an amount and its share of revenue. NMFC kept 11.9% of revenue as net income.
NMFC profit margins
NMFC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −58.0% | −26.4% | +18.2% | +14.5% |
| Gross profit | −94.0% | −62.0% | −24.4% | −8.4% |
| Operating income | −93.1% | −53.8% | −21.3% | −11.3% |
| Net income | −85.5% | −39.6% | −22.4% | −6.7% |
| EPS (diluted) | −14.7% | −0.6% | +0.9% | −1.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NMFC quarterly EPS vs estimates
New Mountain Finance beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.26).
NMFC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $138.6M | $329.8M | $342.0M | $347.3M | $203.6M | $60.0M | $109.1M | $75.8M | $110.0M | $113.0M |
| Cost of revenue | $123.7M | $82.4M | $83.9M | $76.0M | $73.8M | $72.9M | $165.8M | $126.6M | $98.5M | $81.1M |
| Gross profit | $14.8M | $247.4M | $258.1M | $271.3M | $203.6M | $60.0M | $109.1M | $75.8M | $110.0M | $113.0M |
| Research & development | — | — | $0 | $0 | $1 | $0 | $0 | $0 | $1 | $1 |
| Sales, general & admin | $10.6M | $10.6M | $89.7M | $9.9M | $9.6M | $9.8M | $8.9M | $10.0M | $8.1M | $7.4M |
| Total operating expenses | −$2.6M | −$6.3M | −$4.4M | $94.8M | −$3.8M | −$860,000 | −$3.4M | $3.1M | $157,000 | $1.8M |
| Operating income | $17.4M | $253.7M | $262.5M | $176.5M | $201.6M | $57.5M | $112.6M | $129.8M | $146.9M | $139.6M |
| Interest income | $240.0M | $276.1M | $274.9M | $212.2M | $189.6M | $211.6M | $208.7M | $161.9M | $149.8M | $147.4M |
| Interest expense | $123.7M | $136.6M | $124.8M | $92.4M | $73.1M | $79.1M | $84.3M | $57.0M | $37.1M | $28.5M |
| Income before taxes | $17.4M | $116.9M | $137.9M | $83.8M | $207.4M | $60.8M | $112.6M | $72.8M | $109.8M | $111.2M |
| Income taxes | $430,000 | $2.4M | $1.8M | $9.3M | $232,000 | −$991,000 | $94,000 | $403,000 | $416,000 | −$490,000 |
| Net income | $16.5M | $113.4M | $135.3M | $74.7M | $201.4M | $58.5M | $112.6M | $72.4M | $109.4M | $111.7M |
| EBITDA | $17.4M | $253.5M | $262.6M | $176.2M | $109.2M | $57.5M | $112.6M | $129.8M | $146.9M | $139.6M |
| EPS (diluted) | $1.16 | $1.36 | $1.55 | $1.18 | $1.09 | $1.11 | $1.38 | $1.20 | $1.38 | $1.36 |
| Gross margin | 10.7% | 75.0% | 75.5% | 78.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 12.6% | 76.9% | 76.8% | 50.8% | 99.0% | 95.8% | 103.2% | 171.2% | 133.6% | 123.6% |
| Net margin | 11.9% | 34.4% | 39.6% | 21.5% | 98.9% | 97.5% | 103.2% | 95.4% | 99.5% | 98.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.5M | $36.8M | $69.3M | $48.7M | $39.1M | $56.1M | $92.9M | $64.3M | $63.4M | $61.3M | $61.4M | $60.6M |
| Cost of revenue | $12.7M | $9.1M | $13.1M | $13.3M | $31.1M | $31.4M | $20.2M | $20.6M | $21.1M | $31.0M | $30.9M | $31.4M |
| Gross profit | $3.8M | $27.6M | $56.2M | $35.4M | $7.9M | $24.7M | $72.7M | $74.2M | $42.3M | $30.3M | $30.6M | $29.2M |
| Sales, general & admin | $1.67B | $1.49B | $1.5M | $2.3M | $2.6M | $3.0M | $2.8M | $2.6M | $2.8M | $2.5M | $2.6M | $2.4M |
| Total operating expenses | −$36.1M | $50.8M | $53.1M | $23.0M | $29,000 | $1.2M | $9.4M | $8.6M | −$25.9M | $1.6M | $1.6M | $1.4M |
| Operating income | $39.9M | −$23.2M | $3.1M | $12.4M | $7.9M | $23.5M | $63.3M | $62.5M | $68.1M | $28.7M | $28.9M | $27.8M |
| Interest income | $43.3M | $48.0M | $56.3M | $59.4M | $62.8M | $61.5M | $67.3M | $72.8M | $68.4M | $67.6M | $71.1M | $74.0M |
| Interest expense | $22.5M | $27.5M | $187.90B | $31.7M | $31.1M | $31.4M | $34.8M | $37.7M | $33.1M | $31.0M | $30.9M | $31.4M |
| Income before taxes | $17.5M | −$50.8M | −$26.4M | $12.4M | $7.9M | $23.5M | $28.0M | $25.0M | $35.1M | $28.7M | $28.9M | $27.8M |
| Income taxes | −$40,000 | −$83,000 | $344,000 | $54,000 | $29,000 | $3,000 | $219,000 | $1.2M | $364,000 | $638,000 | $1.4M | −$918,000 |
| Net income | $17.3M | −$50.9M | −$26.9M | $12.2M | $7.8M | $23.4M | $27.7M | $23.9M | $34.5M | $27.4M | $27.2M | $28.7M |
| EBITDA | $39.9M | −$23.3M | $5.3M | $12.3M | $7.9M | $23.5M | $63.3M | $25.0M | $68.1M | $28.7M | $28.9M | $27.8M |
| EPS (diluted) | $0.26 | −$0.51 | $0.30 | $0.32 | $0.32 | $0.22 | $0.31 | $0.33 | $0.36 | $0.36 | $0.38 | $0.40 |
| Gross margin | 22.9% | 75.1% | 81.0% | 72.6% | 20.3% | 44.1% | 78.3% | 115.3% | 66.7% | 49.4% | 49.8% | 48.1% |
| Operating margin | 242.2% | −63.1% | 4.4% | 25.5% | 20.2% | 41.9% | 68.2% | 97.1% | 107.4% | 46.8% | 47.1% | 45.9% |
| Net margin | 104.6% | −138.5% | −38.8% | 25.0% | 19.9% | 41.7% | 29.8% | 37.1% | 54.4% | 44.7% | 44.4% | 47.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NMFC's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NMFC financial results
In fiscal year 2025 (ended December 31, 2025), New Mountain Finance reported revenue of $138.6 million, down 58.0% from the year before. It had net income of $16.5 million (down 85.5%), a net profit margin of 11.9%. Diluted earnings per share came to $1.16. Over five years revenue grew at an average rate of 18.2% a year.
See the NMFC stock overview for the latest quote and news, or the NMFC chart for price history and technical indicators.
NMFC income statement FAQ
What is New Mountain Finance's annual revenue?
New Mountain Finance reported total revenue of $138.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 58.0% from $329.8 million the previous year.
Is New Mountain Finance profitable?
Yes. New Mountain Finance reported net income of $16.5 million in fiscal 2025, a net profit margin of 11.9%; its operating margin was 12.6%.
What is New Mountain Finance's gross margin?
New Mountain Finance's gross margin was 10.7% in fiscal 2025: for every $100 of revenue, New Mountain Finance kept $11 after the direct cost of its products and services.
How fast is New Mountain Finance growing?
Revenue grew 18.2% a year on average over the last five fiscal years, from $60.0 million to $138.6 million.
What are New Mountain Finance's earnings per share?
New Mountain Finance earned $1.16 per diluted share in fiscal 2025, compared with $1.36 a year earlier.
When will New Mountain Finance report its next earnings?
New Mountain Finance is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does New Mountain Finance's fiscal year end?
New Mountain Finance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.