MFA Financial, Inc. — Earnings Quality Grade F
MFA · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 147 days, change -35 days YoY
AR growth -4.8% vs revenue growth 18.1%
Revenue grew 18.1% but CFFO declined -61.9%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
No material inventory
Insufficient data
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = 0.43. Only 43% of profit backed by cash
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.1B, FCF/NI = 0.43
Accruals ratio = 0.8%. Low accruals
Cash $0.2B covers only 3% of debt $6.6B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 3% of equity. Manageable
Insufficient data
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -3% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
Monitor MFA continuously
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Altman Z-Score — Not Applicable
MFA Financial, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25