New Mountain Finance Corporation (NMFC) Key Metrics
NMFC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $636.6M
- Enterprise value
- $1.93B
- P/E (TTM)
- —
- Forward P/E
- 6.8
- PEG ratio
- 1.34
- Price / sales
- 2.2
- Price / book
- 0.7
- EV / EBITDA
- 16.2
- Dividend yield
- 16.91% $1.14 a year
- Beta
- 0.65
NMFC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNMFC returns How much profit the business earns on the capital it uses.
NMFC financial health Debt, liquidity and how easily interest is covered.
NMFC efficiency & capital use Working capital cycle and where the cash goes.
NMFC valuation history
NMFC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NMFC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NMFC cash returned to shareholders
NMFC price vs earnings per share
NMFC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.12B | — | — | — | — | — | — | — | — | — |
| Enterprise value | $2.71B | — | — | — | — | — | — | — | — | — |
| P/E ratio | 67.6 | — | — | — | — | — | — | — | — | — |
| Price / sales | 8.0 | — | — | — | — | — | — | — | — | — |
| Price / book | 0.9 | — | — | — | — | — | — | — | — | — |
| Price / free cash flow | 2.9 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 2.9 | — | — | — | — | — | — | — | — | — |
| EV / sales | 19.5 | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 155.5 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 7.1 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 1.5% | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | 34.0% | — | — | — | — | — | — | — | — | — |
| Dividend yield | 12.2% | — | — | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 16.8% | — | — | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $9.21 | $11.26 | $12.72 | $12.37 | $13.70 | $11.36 | $13.74 | $12.58 | $13.55 | $14.10 |
| Per share | ||||||||||
| Revenue per share | $1.14 | — | — | — | — | — | — | — | — | — |
| Earnings per share | $0.14 | — | — | — | — | — | — | — | — | — |
| Operating cash flow per share | $3.13 | — | — | — | — | — | — | — | — | — |
| Free cash flow per share | $3.13 | — | — | — | — | — | — | — | — | — |
| Cash per share | $0.67 | — | — | — | — | — | — | — | — | — |
| Book value per share | $9.76 | — | — | — | — | — | — | — | — | — |
| Tangible book value per share | $9.76 | — | — | — | — | — | — | — | — | — |
| Dividends per share | $1.12 | — | — | — | — | — | — | — | — | — |
| Capex per share | $0.00 | — | — | — | — | — | — | — | — | — |
| Debt per share | $13.80 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 121.1M | — | — | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.3% | 8.4% | 10.2% | 5.6% | 15.6% | 4.6% | 9.8% | 7.1% | 11.1% | 12.6% |
| Return on invested capital (ROIC) | 0.7% | 10.2% | 13.4% | 7.8% | 6.6% | 1.9% | 4.1% | 6.1% | 8.5% | 8.9% |
| Return on assets (ROA) | 0.5% | 3.5% | 4.2% | 2.2% | 6.3% | 1.8% | 3.9% | 3.3% | 6.1% | 6.9% |
| Return on tangible assets | 0.6% | 3.5% | 4.3% | 2.2% | 6.1% | 1.9% | 3.4% | 3.0% | 5.7% | 6.7% |
| Free cash flow margin | 273.5% | 12.7% | 22.2% | 10.1% | −10.8% | 501.9% | −658.4% | −519.0% | −151.2% | 53.5% |
| Income quality (OCF / net income) | 22.99 | 0.37 | 0.56 | 0.47 | −0.11 | 5.15 | −6.38 | −5.44 | −1.52 | 0.54 |
| Financial health | ||||||||||
| Total debt | $1.67B | $560.1M | $1.79B | $1.98B | $1.91B | $1.80B | $1.94B | $1.38B | $869.5M | $696.7M |
| Cash & short-term investments | $80.7M | $80.3M | $70.1M | $2.47B | $58.1M | $79.0M | $48.6M | $49.7M | $34.9M | $45.9M |
| Net debt | $1.59B | $479.8M | $1.72B | −$491.0M | $1.85B | $1.72B | $1.89B | $1.33B | $834.6M | $650.8M |
| Debt / equity | 1.41 | 0.41 | 1.34 | 1.49 | 1.42 | 1.45 | 1.51 | 1.38 | 0.84 | 0.74 |
| Debt / assets | 0.58 | 0.17 | 0.57 | 0.59 | 0.58 | 0.58 | 0.59 | 0.57 | 0.45 | 0.42 |
| Net debt / EBITDA | 91.38 | 1.89 | 6.53 | −2.79 | 16.93 | 29.90 | 16.82 | 10.28 | 5.68 | 4.66 |
| Current ratio | 0.57 | 0.41 | 0.72 | 7.91 | 3.52 | 2.75 | 4.42 | 0.11 | 0.14 | 0.14 |
| Quick ratio | 0.57 | 0.41 | 0.72 | 7.91 | 3.52 | 2.75 | 4.42 | 0.11 | 0.14 | 0.14 |
| Interest coverage | 0.1 | 1.9 | 2.1 | 1.9 | 2.8 | 0.7 | 1.3 | 2.3 | 4.0 | 4.9 |
| Working capital | −$94.1M | −$176.8M | −$44.2M | $2.19B | $63.6M | $74.1M | $62.4M | −$638.3M | −$403.4M | −$398.2M |
| Invested capital | $2.77B | $1.84B | $3.05B | $835.2M | $3.19B | $2.96B | $3.18B | $2.34B | $1.87B | $1.59B |
| Tangible asset value | $1.19B | $1.36B | $1.33B | $1.33B | $1.34B | $1.24B | $1.28B | $1.01B | $1.03B | $938.6M |
| Net current asset value | −$1.59B | −$1.76B | −$1.71B | $479.0M | −$1.86B | −$1.74B | −$1.90B | −$1.36B | −$826.3M | −$653.7M |
| Graham number | $5.47 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$13.25 | — | — | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $135.7M | $147.2M | $150.7M | $121.3M | $114.2M | $120.1M | $113.1M | $101.1M | $94.2M | $85.8M |
| Share buybacks (net) | $52.0M | $0 | $0 | — | $0 | $0 | $0 | $0 | $0 | $2.9M |
| Dividend payout ratio | 823.0% | 129.8% | 111.4% | 162.3% | 56.7% | 205.3% | 100.5% | 139.7% | 86.1% | 76.8% |
| Dividends + buybacks / free cash flow | 49.5% | 350.5% | 198.3% | 346.5% | — | 39.9% | — | — | — | 146.7% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | — | — | — | 0.0% |
| Capex / depreciation | 0.00 | — | — | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | — | — | 1.2% | — | 45.4% | −89.2% | −3.0% | −706.9% | −193.6% | −4.2% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 7.6% | 3.2% | 26.2% | 2.9% | 4.7% | 16.3% | 8.2% | 13.2% | 7.3% | 6.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 106.9 | 48.0 | 42.9 | 35.2 | 61.3 | 211.8 | 104.4 | 149.8 | 84.7 | 53.9 |
| Days of inventory on hand | — | — | 0.0 | 0.0 | — | — | 0.0 | 0.0 | 0.0 | — |
| Days payables outstanding | 48.2 | 90.3 | 87.2 | 107.9 | 82.9 | 66.2 | 55.9 | 54.3 | 20.4 | 30.8 |
| Cash conversion cycle (days) | 58.6 | -42.3 | -44.3 | -72.7 | -21.6 | 145.6 | 48.5 | 95.5 | 64.3 | 23.1 |
| Receivables turnover | 3.42 | 7.60 | 8.51 | 10.36 | 5.95 | 1.72 | 3.49 | 2.44 | 4.31 | 6.77 |
| Payables turnover | 7.57 | 4.04 | 4.19 | 3.38 | 4.40 | 5.51 | 6.53 | 6.72 | 17.89 | 11.84 |
| Inventory turnover | — | — | 83,897,000.00 | 76,009,000.00 | — | — | 165,765,000.00 | 84,390,000.00 | 49,273,500.00 | — |
| Asset turnover | 0.05 | 0.10 | 0.10 | 0.10 | 0.06 | 0.02 | 0.04 | 0.03 | 0.06 | 0.07 |
| Average receivables | $40.6M | $43.4M | $40.2M | $33.5M | $34.2M | $34.8M | $31.2M | $31.1M | $25.5M | $16.7M |
| Average payables | $16.3M | $20.4M | $20.0M | $22.5M | $16.8M | $13.2M | $25.4M | $18.8M | $5.5M | $6.8M |
| Average inventory | — | — | $1 | $1 | — | — | $1 | $2 | $2 | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from NMFC's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NMFC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), New Mountain Finance traded at 67.6 times earnings. New Mountain Finance earned a return on equity of 1.3% and a return on invested capital of 0.7% in fiscal 2025. It ended the year with $1.7 billion of debt and $80.7 million in cash and short-term investments, net debt of $1.6 billion. It returned $187.6 million to shareholders: $135.7 million in dividends and $52.0 million in share buybacks, 50% of free cash flow.
See the NMFC income statement, the NMFC chart for price history, or the NMFC stock overview for the latest quote and news.
NMFC key metrics FAQ
What is New Mountain Finance's P/E ratio?
New Mountain Finance traded at 67.6 times earnings at the end of fiscal 2025.
What is New Mountain Finance's EV/EBITDA?
New Mountain Finance's enterprise value was 155.5 times EBITDA at the end of fiscal 2025 (enterprise value $2.7 billion, EBITDA $17.4 million); the current EV/EBITDA is 16.2.
What is New Mountain Finance's return on equity?
New Mountain Finance's return on equity (ROE) was 1.3% in fiscal 2025: net income of $16.5 million on average shareholders' equity of $1.3 billion.
What is New Mountain Finance's ROIC?
New Mountain Finance's return on invested capital was 0.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does New Mountain Finance have?
New Mountain Finance had total debt of $1.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.41 and $1.6 billion of net debt (91.38 times EBITDA).
What is New Mountain Finance's dividend yield?
New Mountain Finance's forward dividend yield is 16.91%. New Mountain Finance paid $135.7 million in dividends in fiscal 2025 ($1.12 per share), a payout ratio of 823.0%.
Does New Mountain Finance buy back its shares?
Yes. New Mountain Finance spent $52.0 million on net share repurchases in fiscal 2025.
What is New Mountain Finance's free cash flow yield?
New Mountain Finance generated $379.0 million of free cash flow in fiscal 2025, a free cash flow yield of 34.0% on its market value at year-end ($1.1 billion).
What is New Mountain Finance's current ratio?
New Mountain Finance's current ratio was 0.57 at the end of fiscal 2025: current assets were 0.57 times current liabilities.