MFA Financial
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
9.407.849.059.549.279.12-2.586.13-4.1014.375.329.12
Price/Sales ratio
8.216.897.898.248.048.00-3.165.985.184.921.188.00
Price/Book Value ratio
0.920.820.930.940.811.010.690.790.510.600.571.01
Price/Cash Flow ratio
11.528.7033.1117.4618.9215.9845.7916.782.7710.5911.6815.98
Price/Free Cash Flow ratio
11.568.7533.3917.5519.0616.1252.4318.652.7710.5911.5116.12
Price/Earnings Growth ratio
2.44-6.35N/A-7.63-1.040.790.00-0.040.02-0.120.05-1.04
Dividend Yield
10.50%12.71%11.04%10.52%12.31%10.91%8.14%9.36%21.34%15.27%10.06%10.91%
Profitability Indicator Ratios
Gross Profit Margin
86.43%82.35%79.27%74.75%67.44%67.13%200%88.88%73.40%85.41%115.65%67.44%
Operating Profit Margin
7.85%24.67%25.93%19.87%153.49%87.77%122.22%97.52%-128.83%29.55%66.37%87.77%
Pretax Profit Margin
87.37%87.99%87.15%86.41%86.75%87.77%122.22%97.52%-118.24%34.25%22.85%87.77%
Net Profit Margin
87.37%87.99%87.15%86.41%86.75%87.77%122.22%97.52%-126.28%34.25%22.64%87.77%
Effective Tax Rate
141.98%128.45%132.08%138.14%0.55%60.86%142.05%10.31%-6.80%N/A0.60%0.55%
Return on Assets
2.53%2.37%2.50%2.94%2.42%2.78%-9.80%3.59%-2.71%0.74%1.81%2.78%
Return On Equity
9.78%10.55%10.30%9.88%8.83%11.17%-26.90%12.93%-12.43%4.21%10.76%8.83%
Return on Capital Employed
0.82%2.84%2.97%2.20%12.11%2.79%-10.14%3.69%-2.77%0.65%5.4%5.4%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A2.27N/A
Quick Ratio
0.060.010.010.03-0.02-17.202.810.888.831.082.27-0.02
Cash ratio
0.020.010.020.050.003.873.441.2914.501.082.270.00
Days of Sales Outstanding
31.7929.7328.2726.82N/AN/A-25.5154.32685.48191.83N/AN/A
Days of Inventory outstanding
-3.01K162.85395.17590.53803.84990.95123.381.41K915.09N/AN/A990.95
Operating Cycle
-2.97K192.59423.45617.35803.84990.9597.871.46K1.60K191.83N/A990.95
Days of Payables Outstanding
98.1998.4869.3547.5352.4647.027.2993.72161.43329.69-85.3547.02
Cash Conversion Cycle
-3.07K94.10354.09569.82751.37943.9390.571.37K1.43K-137.8585.35943.93
Debt Ratios
Debt Ratio
0.010.000.000.040.060.040.260.31N/A0.460.490.06
Debt Equity Ratio
0.060.030.030.140.220.190.721.13N/A2.612.910.22
Long-term Debt to Capitalization
0.060.030.030.120.180.160.390.53N/A0.720.740.18
Total Debt to Capitalization
0.060.030.030.120.180.160.420.53N/A0.720.740.18
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1.15N/A
Cash Flow to Debt Ratio
1.212.370.880.380.180.320.020.04N/A0.020.010.32
Company Equity Multiplier
3.854.434.113.353.634.002.743.594.585.675.933.63
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.710.790.230.470.420.50-0.060.351.860.460.100.50
Free Cash Flow / Operating Cash Flow Ratio
0.990.990.990.990.990.990.870.890.99110.99
Cash Flow Coverage Ratio
1.212.370.880.380.180.320.020.04N/A0.020.010.32
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/A0.17N/AN/AN/AN/AN/A
Dividend Payout Ratio
98.77%99.72%100.07%100.37%114.23%99.58%-21.09%57.47%-87.69%219.52%96.42%99.58%