MFA FINANCIAL, INC. (MFA)
MFA Financial, Inc., along with its subsidiary entities, operates as a real estate investment trust (REIT) within the United States. The company strategically allocates capital into various residential mortgage-related assets. These assets include diverse mortgage-backed securities (MBS) such as non-agency, agency, and credit risk transfer instruments. Furthermore, MFA invests in residential whole loans, specifically purchasing performing, credit-deteriorated, and non-performing loans, in addition to assets linked to mortgage servicing rights. Having chosen to be classified as a REIT for tax purposes, the company avoids federal income taxation, contingent upon distributing a minimum of 90% of its taxable income to its shareholders. MFA Financial, Inc. was founded in 1997 and is based in New York, New York.
Sector: Real Estate Investment Trusts
Industry: REIT - Mortgage
MFA Financial, Inc.
NYSE:MFAReal Estate · REIT - Mortgage
+0.60%$6.66
AH Close$6.66+0.00%vs close
AH Close$6.66+0.00%vs close
Mkt Cap$673.25M
Float99.91M
O/S101.09M
Inst Own50.5%
SI5.6%
Div Yield21.62%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$875.24M
Net Income$176.78M
Total Assets$13.05B
Free Cash Flow$76.25M
Debt & Equity
Debt 86%
Equity 14%
Preferred 0%
Total Debt$10.99B
Total Equity$1.83B
Preferred Stock$81K
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:4Reverse splitApr 5, 20224 shares → 1
Balance Sheet Details
Assets$13.05B
Liabilities$11.22B
Accounts Receivable$119.99M
Accounts Payable$36.37M
Inventory$0
PP&E (Net)$42.81M
Goodwill$61.08M
Intangible Assets$2.6M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 |
| Revenue | $875.24M | $279.61M | $234.05M | -$67.62M | $488.32M | -$555.87M | $433.33M | $347.88M | $373.06M | $358.76M | $355.98M | $358.79M | $340.68M | $349.11M | $358.16M | $296.09M | $277.72M | $64.68M | $43.4M | $16.42M | $41.07M | $91.57M | $66.34M | $62M | $24.13M | $10.32M | $10.3M | $4.6M |
| YoY Growth | 213.0% | 19.5% | -446.1% | -113.8% | -187.8% | -228.3% | 24.6% | -6.7% | 4.0% | 0.8% | -0.8% | 5.3% | -2.4% | -2.5% | 21.0% | 6.6% | 329.4% | 49.0% | 164.3% | -60.0% | -55.1% | 38.0% | 7.0% | 156.9% | 133.8% | 0.2% | 123.9% | - |
| Cost of Revenue | $33.45M | $35.31M | $34.14M | $42.89M | $44.07M | $0 | $0 | $113.25M | $94.17M | $74.36M | $62.81M | $48.67M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $841.79M | $244.3M | $199.91M | -$110.52M | $418.19M | -$555.87M | $433.33M | $234.63M | $278.89M | $284.41M | $293.16M | $310.12M | $340.68M | $349.11M | $358.16M | $296.09M | $277.72M | $64.68M | $43.4M | $16.42M | $41.07M | $91.57M | $66.34M | $62M | $24.13M | $10.32M | $10.3M | $4.6M |
| Gross Margin | 96.2% | 87.4% | 85.4% | 163.4% | 85.6% | 100.0% | 100.0% | 67.4% | 74.8% | 79.3% | 82.4% | 86.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $800K | $800K | $800K | $400K | $0 | $0 | $0 | $1 | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $41.74M | $131.91M | $129.95M | $112.72M | $82.72M | $56.71M | $52.65M | $46.08M | $49.63M | $45.61M | $42.05M | $40.74M | $33.69M | $33.57M | $30.21M | $24.66M | $23.05M | $15.94M | $11.68M | $9.57M | $5.5M | $5.6M | $4.45M | $2.93M | $5.36M | $2.46M | $2.7M | $1.7M |
| Other | $110.02M | $0 | $0 | $0 | -$65.28M | -$612.58M | $380.69M | $32.92M | $367K | $388K | -$45K | $255K | $311K | $431K | $10.57M | $1.34M | $0 | $95.06M | $2.32M | $1.43M | $5.5M | $0 | $44.76M | $54.66M | $9.37M | $25.19M | $13.1M | $1.2M |
| Total Operating Expenses | $151.76M | $132.71M | $130.75M | $113.52M | $17.84M | -$555.87M | $433.33M | $79M | $50M | $46M | $42M | $41M | $34M | $34M | $31M | $26M | $23M | $111M | $14M | $11M | $11M | $3.33M | $49.2M | $57.59M | $14.73M | $27.65M | $15.8M | $2.9M |
| Operating Income (EBIT) | $690.03M | $637.79M | $69.16M | -$224.03M | $426.42M | $0 | $0 | $533.99M | $74.16M | $93.04M | $87.83M | $28.19M | $466.72M | $478.51M | $465.82M | $414.89M | $497.6M | $45.8M | $29.95M | $5.24M | $190.54M | $166.96M | $115.54M | $119.58M | $38.86M | $37.97M | $26.1M | $7.5M |
| Operating Margin | 78.8% | 228.1% | 29.6% | 331.3% | 87.3% | - | - | 153.5% | 19.9% | 25.9% | 24.7% | 7.9% | 137.0% | 137.1% | 130.1% | 140.1% | 179.2% | 70.8% | 69.0% | 31.9% | 463.9% | 182.3% | 174.2% | 192.9% | 161.0% | 367.8% | 253.4% | 163.0% |
| Interest Expense | $513.98M | $521.23M | $429.12M | $258.84M | $120.39M | $268.76M | $0 | $232.19M | $197.14M | $193.35M | $176.95M | $159.81M | $164.01M | $171.67M | $149.41M | $145.13M | $229.41M | $342.69M | $321.31M | $181.92M | $183.83M | $88.89M | $57.69M | $63.49M | $35.07M | $30.1M | $18.5M | $4.6M |
| Interest Income | $745.06M | $723.97M | $605.6M | $482.42M | $362.3M | $432.83M | $0 | $455.68M | $433.45M | $457.17M | $492.14M | $463.82M | $482.94M | $499.16M | $496.75M | $391.34M | $505.56M | $527.52M | $384.82M | $219.19M | $238.72M | $807K | $746K | $926K | $842K | $645K | $400K | $400K |
| Other Income (Expense) | -$513.98M | $8.1M | $11M | -$8.4M | -$97.55M | -$679.39M | $378.12M | $207.03M | $0 | -$4.3M | $76K | -$1.66M | -$4.28M | -$7.5M | -$12.8M | -$39.82M | -$18.44M | -$440.86M | -$7.9M | -$179.07M | -$183.83M | $0 | -$103.58M | -$91.58M | -$40.63M | -$32M | -$19.9M | -$4.9M |
| Income Before Tax (EBT) | $176.05M | $119.69M | $80.16M | -$232.43M | $328.87M | -$679.39M | $378.12M | $301.8M | $322.39M | $312.67M | $313.23M | $313.5M | $302.71M | $306.84M | $316.41M | $269.76M | $268.19M | $45.8M | $22.05M | $8.76M | $6.71M | $78.07M | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Tax Expense | -$735K | $443K | $278K | -$851K | $0 | $0 | $0 | $1.66M | $445.38M | $412.98M | $402.35M | $445.12M | $2.25M | $7.5M | $0 | $0 | $0 | $342.69M | $313.4M | $185.44M | $0 | $0 | -$57.69M | $63.49M | $35.07M | $30.1M | $18.5M | $4.6M |
| Net Income | $176.78M | $119.25M | $80.16M | -$231.58M | $328.87M | -$679.39M | $378.12M | $301.8M | $322.39M | $312.67M | $313.23M | $313.5M | $302.71M | $306.84M | $316.41M | $269.76M | $268.19M | $45.8M | $30.21M | $8.76M | $6.71M | $78.07M | $57.85M | $56.09M | $3.78M | $7.87M | $7.6M | $2.9M |
| Net Income Margin | 20.2% | 42.6% | 34.3% | 342.5% | 67.3% | 122.2% | 87.3% | 86.8% | 86.4% | 87.2% | 88.0% | 87.4% | 88.9% | 87.9% | 88.3% | 91.1% | 96.6% | 70.8% | 69.6% | 53.3% | 16.3% | 85.3% | 87.2% | 90.5% | 15.7% | 76.2% | 73.8% | 63.0% |
| Supplementary Data | ||||||||||||||||||||||||||||
| EPS | 1.71 | 0.83 | 0.46 | -2.57 | 2.66 | -6.01 | 3.21 | 2.88 | 3.16 | 3.20 | 3.20 | 3.24 | 3.12 | 3.32 | 3.60 | 3.72 | 4.24 | 0.84 | 0.96 | 0.04 | -0.08 | 3.92 | 4.28 | 5.40 | 1.00 | 1.14 | 1.10 | 0.42 |
| Diluted EPS | 1.68 | 0.82 | 0.46 | -2.57 | 2.63 | -6.01 | 3.17 | 2.86 | 3.16 | 3.20 | 3.20 | 3.24 | 3.12 | 3.32 | 3.60 | 3.72 | 4.24 | 0.84 | 0.96 | 0.04 | -0.08 | 3.92 | 4.28 | 5.40 | 1.00 | 1.14 | 1.10 | 0.42 |
| Weighted Average OS | 103.68M | 103.49M | 102.22M | 103.15M | 110.70M | 113.01M | 112.74M | 104.73M | 97.09M | 92.78M | 93.03M | 92.26M | 90.60M | 89.19M | 85.34M | 70.29M | 61.33M | 45.00M | 22.97M | 14.95M | 18.15M | 19.04M | 13.50M | 10.36M | 3.81M | 6.88M | 6.88M | 6.88M |
| EBITDA | $692.23M | $122.89M | $0 | $36.46M | $455.86M | $0 | $3.32M | $303.63M | $324.94M | $314.12M | $314.79M | $0 | $306.7M | $306.48M | $329.22M | $309.58M | $286.63M | $487.11M | $0 | $0 | $0 | $129M | $0 | $0 | $0 | $0 | $0 | $0 |
| EBITDA Margin | 79.1% | 44.0% | - | -53.9% | 93.4% | - | 0.8% | 87.3% | 87.1% | 87.6% | 88.4% | - | 90.0% | 87.8% | 91.9% | 104.6% | 103.2% | 753.1% | - | - | - | 140.9% | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 |
| Assets | ||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $213.21M | $338.93M | $318M | $334.18M | $304.7M | $814.35M | $70.63M | $51.97M | $449.76M | $260.11M | $165.01M | $182.44M | $565.37M | $401.29M | $394.02M | $345.24M | $653.46M | $361.17M | $234.41M | $47.2M | $64.3M | $68.34M | $139.71M | $64.09M | $58.53M | $8.9M | $23.6M | $6M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $213.21M | $338.93M | $318M | $334.18M | $304.7M | $814.35M | $70.63M | $51.97M | $449.76M | $260.11M | $165.01M | $182.44M | $565.37M | $401.29M | $394.02M | $345.24M | $653.46M | $361.17M | $234.41M | $47.2M | $64.3M | $68.34M | $139.71M | $64.09M | $58.53M | $8.9M | $23.6M | $6M |
| Accounts Receivable | $119.99M | $8.82B | $123.01M | $7.86B | $84.38M | $38.85M | $7.45B | $0 | $27.41M | $27.8M | $29M | $31.26M | $35.83M | $44.03M | $42.84M | $38.22M | $41.77M | $49.72M | $43.61M | $33.18M | $24.2M | $27.41M | $19.51M | $19.47M | $12.34M | $3.43M | $2.9M | $1.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $249.41M | $152.36M | $80.5M | $28.03M | -$401.47M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $173.46M | $388.42M | $170.21M | $252.06M | $99.75M | $0 | $179.67M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $506.66M | $9.55B | $611.22M | $8.44B | $488.83M | $853.2M | $7.7B | $51.97M | $449.76M | $260.11M | $165.01M | $182.44M | $124K | $127K | $136K | $385K | $653.46M | $361.17M | $234.41M | $47.2M | $64.3M | $68.34M | $159.22M | $83.56M | $70.87M | $12.33M | $26.5M | $7.5M |
| Long-Term Assets | ||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $42.81M | $35.46M | $37.82M | $39.46M | $39.37M | $758K | $0 | -$12.42B | -$10.95B | -$12.48B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.34M | $11.61M | $11.79M | $29.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $61.08M | $61.08M | $61.08M | $61.08M | $61.08M | $0 | $0 | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $19.51M | $19.47M | $12.34M | $3.43M | $0 | $0 |
| Intangible Assets | $2.6M | $4.8M | $8M | $12.2M | $21.4M | $239M | $1.22B | $611.81M | $492.08M | $226.78M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.9M | $1.5M |
| Long-Term Investments | $12.2B | $184.59M | $765.87M | $156.25M | $8.24B | $63.83M | $16.93M | $127.15M | $7.02B | $9.83B | $11.36B | $2.77B | $3.45B | $4.26B | $11.22B | $8.06B | $8.84B | $10.12B | $8.3B | $6.34B | $5.71B | $6.78B | $4.37B | $3.49B | $1.94B | $495.25M | $486.8M | $247.8M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $302.07M | $0 | $12.42B | $10.95B | $12.48B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$7.19M | -$7.19M | -$7.19M | -$7.19M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $236.41M | $1.58B | $905.59M | $401.26M | $287.65M | -$302.83M | $4.64B | $4.99B | -$4.06B | -$7.61B | -$9.75B | -$1.4B | -$2.96B | $8.81B | $87.21M | $238.05M | -$8.84B | -$10.13B | -$8.31B | -$6.35B | -$5.74B | -$6.78B | -$4.38B | -$3.49B | -$1.95B | -$502.64M | -$494.4M | -$255.2M |
| Total Long-Term Assets | $12.54B | $1.86B | $1.78B | $670.25M | $8.65B | $302.83M | $5.87B | $5.73B | $3.45B | $2.23B | $1.62B | $1.38B | $499.35M | $13.07B | $11.31B | $8.3B | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $7.19M | $4.38B | $3.49B | $1.95B | $502.64M | $494.4M | $255.2M |
| Other Assets | $0 | $0 | $8.55B | $0 | $0 | $5.78B | $0 | $6.64B | $7.05B | $10B | $11.39B | $10.79B | $11.97B | $445.2M | $436.72M | $383.07M | $8.97B | $10.27B | $8.36B | $6.39B | $5.78B | $6.84B | $25.8M | $27.79M | $50.11M | $7.52M | $3.5M | $2M |
| Total Assets | $13.05B | $11.41B | $10.77B | $9.11B | $9.14B | $6.93B | $13.57B | $12.42B | $10.95B | $12.48B | $13.17B | $12.35B | $12.47B | $13.52B | $11.75B | $8.69B | $9.63B | $10.64B | $8.61B | $6.44B | $5.85B | $6.91B | $4.56B | $3.6B | $2.07B | $522.49M | $524.4M | $264.7M |
| Liabilities | ||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||
| Accounts Payable | $36.37M | $0 | $30.83M | $0 | $9.62M | $11.12M | $0 | $16.28M | $12.26M | $14.13M | $16.95M | $13.1M | $14.73M | $16.1M | $9.11M | $8.01M | $13.27M | $23.87M | $20.21M | $23.16M | $54.16M | $28.35M | $7.24M | $14.3M | $11.39M | $2.04M | $2.78M | $800K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $226.47M | $225.18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.4M | $7.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | -$173.08M | $0 | $0 | -$8.25B | -$6.64B | -$8.69B | -$9.39B | -$8.33B | -$28.22M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $36.02M | $0 | $35.77M | $0 | -$69.89M | $90.75M | $7.88B | $7.12B | $9.23B | $9.97B | $8.83B | $8.75B | -$101.92M | -$116.52M | -$84.62M | -$110.66M | -$70.22M | -$38.22M | -$28.06M | -$58.22M | -$46.52M | $4.03B | $3.19B | -$19.71M | -$4M | -$4.67M | -$3.4M |
| Total Current Liabilities | $232.69M | $313.5M | $292.45M | $134.13M | $236.09M | $236.29M | $152.61M | $8.01B | $7.6B | $9.35B | $10.08B | $8.94B | $8.86B | $7.5M | $9.11M | $6.44B | $7.45B | $9.38B | $7.67B | $5.75B | $5.16B | $6.16B | $4.06B | $3.22B | $11.39M | $2.04M | $2.8M | $800K |
| Long-Term Liabilities | ||||||||||||||||||||||||||||
| Long-Term Debt | $10.94B | $9.16B | $8.54B | $6.81B | $6.38B | $1.61B | $10.03B | $781.24M | $460.72M | $96.73M | $118.56M | $210.57M | $466.2M | $746.82M | $875.52M | $220.93M | $0 | $9.31M | $9.46M | $9.61M | $22.55M | $22.69M | $16.16M | $16.34M | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9B | $7.69B | $9.45B | $0 | $0 | $6.74M | $33.48M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$9B | -$7.69B | -$9.1B | $0 | $0 | $0 | -$10.2B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $63.09M | $103.65M | $132.03M | $173.08M | $0 | $0 | $0 | $0 | $0 | -$118.56M | $0 | -$466.2M | -$746.82M | -$875.52M | -$220.93M | $0 | -$9.31M | -$9.46M | -$9.61M | -$22.55M | -$22.69M | -$16.16M | -$16.34M | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $10.99B | $9.25B | $8.68B | $6.99B | $2.7B | $1.61B | $10.03B | $992.37M | $96.77M | $96.73M | $118.56M | $210.57M | $466M | $780.29M | $1.18B | $220.93M | $9M | $9M | $9M | $10M | $23M | $23M | $16M | $16M | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $3.67B | $2.56B | $0 | $0 | $0 | $0 | $4.77M | $0 | -$343K | $9.42B | $8.06B | -$220.97M | -$53K | $342K | -$404K | $409K | -$185K | -$150K | -$28K | -$341K | $1.87B | $452.58M | $456.8M | $193.7M |
| Total Liabilities | $11.22B | $9.57B | $8.87B | $7.12B | $6.6B | $4.41B | $10.18B | $9B | $7.69B | $9.45B | $10.2B | $9.15B | $9.33B | $10.21B | $9.25B | $6.44B | $7.46B | $9.38B | $7.68B | $5.77B | $5.19B | $6.18B | $4.08B | $3.23B | $1.87B | $452.58M | $456.8M | $193.7M |
| Stockholders' Equity | ||||||||||||||||||||||||||||
| Preferred Stock | $81K | $190K | $190K | $190K | $190K | $190K | $80K | $80K | $80K | $80K | $80K | $80K | $80K | $38K | $38K | $38K | $38K | $38K | $38K | $38K | $38K | $38K | $12.11M | $0 | $0 | $4.1M | $5.4M | $0 |
| Common Stock | $1.02M | $1.02M | $1.02M | $1.02M | $1.08M | $4.52M | $4.52M | $4.5M | $3.98M | $3.72M | $3.71M | $3.7M | $3.65M | $3.58M | $3.56M | $2.81M | $2.8M | $2.19M | $1.23M | $807K | $801K | $820K | $632K | $463K | $283K | $87K | $100K | $0 |
| Retained Earnings | -$1.9B | -$1.88B | -$1.82B | -$1.72B | -$1.28B | -$1.41B | -$631.04M | -$632.04M | -$578.95M | -$572.64M | -$572.33M | -$568.6M | -$571.54M | -$260.31M | -$243.06M | -$191.57M | -$202.19M | -$210.81M | -$89.26M | -$68.64M | -$52.31M | -$17.33M | -$15.76M | -$12.42M | -$13.7M | -$440K | -$2.9M | -$4.3M |
| Comprehensive Income & Other | $3.67M | $9.48M | $17.7M | $21.34M | $45.58M | $77.29M | $370.05M | $420.29M | $609.22M | $573.68M | $515.85M | $754.45M | $737.7M | $761.98M | -$58.7M | $254.68M | $187.01M | -$310.27M | -$70.5M | -$30.39M | -$58.21M | -$35.1M | -$12.11M | $23.8M | $4.51M | -$4.1M | -$5.4M | $0 |
| Other Stockholders' Equity | $3.72B | $3.72B | $3.72B | $3.71B | $3.82B | $3.93B | $4.01B | $4.04B | $3.84B | $3.6B | $3.54B | $3.77B | $3.71B | $3.57B | $2.74B | $2.44B | $2.37B | $1.47B | $1.02B | $746.39M | $712.62M | $745.34M | $500.09M | $383.15M | $217.04M | $70.26M | $70.4M | $75.2M |
| Total Equity | $1.83B | $1.84B | $1.9B | $1.99B | $2.54B | $2.52B | $3.38B | $3.42B | $3.26B | $3.03B | $2.97B | $3.2B | $3.14B | $3.31B | $2.5B | $2.25B | $2.17B | $1.26B | $927.26M | $678.56M | $661.1M | $728.83M | $484.96M | $371.2M | $203.62M | $69.91M | $67.6M | $70.9M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $3.52B | $0 | $8.57B | $7.12B | $8.98B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K |
| Total Liabilities and Equity | $13.05B | $11.41B | $10.77B | $9.11B | $9.14B | $6.93B | $13.57B | $12.42B | $10.95B | $12.48B | $13.17B | $12.35B | $12.47B | $13.52B | $11.75B | $8.69B | $9.63B | $10.64B | $8.61B | $6.44B | $5.85B | $6.91B | $4.56B | $3.6B | $2.07B | $522.49M | $524.4M | $264.6M |
| Supplementary Data | ||||||||||||||||||||||||||||
| Total Debt | $10.99B | $9.2B | $5B | $6.86B | $3.15B | $1.84B | $10.03B | $781.24M | $460.72M | $96.73M | $122.06M | $210.57M | $466.2M | $746.82M | $1.18B | $220.93M | $7.21B | $9.31M | $9.46M | $9.61M | $22.55M | $22.69M | $16.16M | $16.34M | $1.85B | $449M | $452M | $190M |
| Net Debt | $10.78B | $8.86B | $4.69B | $6.52B | $2.84B | $1.03B | $9.96B | $729.27M | $10.96M | -$163.38M | -$42.95M | $28.14M | -$99.17M | $345.52M | $787.9M | -$124.31M | $6.55B | -$351.86M | -$224.95M | -$37.59M | -$41.75M | -$45.66M | -$123.55M | -$47.75M | $1.79B | $440.1M | $428.4M | $184M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 |
| Operating Activities | ||||||||||||||||||||||||||||
| Net Income | $176.78M | $119.25M | $80.16M | -$231.58M | $328.87M | -$679.39M | $378.12M | $301.8M | $322.39M | $312.67M | $313.23M | $313.5M | $302.71M | $306.84M | $316.41M | $269.76M | $268.19M | $45.8M | $30.21M | $8.76M | $6.71M | $78.07M | $57.85M | $56.09M | $3.78M | $7.87M | $7.6M | $2.9M |
| Depreciation & Amortization | $2.2M | $3.2M | $4.2M | $9.2M | $6.6M | $0 | $3.32M | $1.82M | $1.52M | $964K | $860K | $1.19M | $5.83M | $3.53M | $2.66M | $730K | $512K | $18.79M | $27.71M | $31.63M | $58.93M | $50.93M | $45.88M | $28.09M | $5.55M | $1.89M | $1.4M | $300K |
| Deferred Income Tax | $0 | $0 | $0 | -$10.21M | -$16.18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$543K | $11.13M | -$21.5M | $23.17M | $21.28M | $22.57M | $0 | $0 | $0 | $0 | -$8.66M | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $15.62M | $10.21M | $9.58M | $0 | $9.24M | $8.01M | $8.03M | $9.16M | $7.83M | $8.58M | $4.16M | $6.49M | $4.38M | $3.28M | $1.91M | $1.36M | $511K | $539K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.84M | $4.56M | $8.18M | -$1.16M | -$4.62M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9.91B | $8.74B | $8.86B | -$9.07M | $15K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50.74M | $45.16M | $13.81M | $6.99M | $1.1M | -$5.27M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $11.85M | $16.59M | -$17.97M | $27.96M | -$5.39M | -$10.87M | -$15.71M | -$26.45M | -$11.38M | -$119.56M | -$9.91B | -$8.76B | -$8.86B | $127K | $136K | $666K | $2.93M | -$1.56M | -$11.67M | -$41.91M | $31.43M | -$331K | $8.15M | -$4.09M | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $11.85M | $16.59M | -$17.97M | $27.96M | -$5.39M | -$10.87M | -$15.71M | -$26.45M | -$11.38M | -$119.56M | $54.74M | $28.74M | $20.05M | -$3.12M | -$3.37M | -$4.6M | $2.93M | -$1.56M | -$11.67M | -$41.91M | $31.43M | -$331K | $8.15M | -$4.09M | $9.4M | -$1.81M | $1.2M | -$2.5M |
| Other Non-Cash Items | -$114.59M | $61.08M | $26.72M | $560.5M | -$203.18M | $728.66M | -$159.19M | -$137.3M | -$144.49M | -$117.72M | -$94.48M | -$96.2M | -$34.66M | -$3.36M | $14.86M | -$34.37M | $17.93M | $98.87M | $638K | -$5.71M | $39.12M | -$371K | $265K | $3.27M | $13.72M | -$3.02M | $100K | -$300K |
| Net Cash from Operating | $76.25M | $200.12M | $108.74M | $366.08M | $120.29M | $38.4M | $215.78M | $147.88M | $176.07M | $85.51M | $282.17M | $255.81M | $298.09M | $310.39M | $334.41M | $245.94M | $269.96M | $186.43M | $68.68M | $15.88M | $136.19M | $128.3M | $112.15M | $83.37M | $21.67M | $4.92M | $10.3M | $400K |
| Investing Activities | ||||||||||||||||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$300K | -$12.05M | -$4.86M | -$1.88M | -$1.13M | -$872K | -$708K | -$1.56M | -$786K | -$373K | -$443K | -$2.34M | -$438K | $12K | $0 | -$231K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $6.12M | $0 | $3.76B | $338.4M | $1.59B | $0 | $636.29M | -$34.73M | $0 | $0 | $0 | -$915.38M | -$808.89M | $0 | $231K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$2.75B | -$869.15M | -$588.91M | -$3.18B | -$2.5B | -$163.75M | -$4.67B | -$3.14B | -$86.32M | -$84.61M | -$95.38M | -$89.18M | $0 | $0 | -$4.83B | -$3.11B | -$12K | -$5.2B | -$4.49B | -$4.13B | -$2.31B | -$4.59B | -$3.4B | -$2.96B | -$1.75B | -$121.07M | -$356M | -$240.9M |
| Sales of Investments | $46.81M | $129.64M | $173.95M | $68.78M | $157.3M | $4.42B | $908.7M | $538.67M | $243.08M | $3.43B | $70.75M | $123.91M | $574.87M | $268.86M | $2.44B | $4.03B | $2.58B | $3.23B | $2.54B | $3.48B | $3.25B | $2.12B | $2.43B | $1.4B | $308.38M | $112.55M | $113.3M | $48M |
| Other Investing Activities | $916.69M | $314.92M | -$1.13B | $1.99B | $185.67M | $2.13B | -$1.13B | $107.94M | $66.29M | $1.11B | -$60.02M | $451.79M | $1.03B | -$918.84M | $11.37M | $915.38M | -$666K | $3.23B | -$231K | $23.53M | $938.9M | $258K | $1.5M | $345K | -$397K | -$755K | -$7.8M | $3.7M |
| Net Cash from Investing | -$1.79B | -$424.6M | -$1.55B | -$1.13B | -$2.17B | $6.38B | -$1.13B | -$2.16B | $1.82B | $1.03B | $550.08M | $451M | $1.6B | -$650.43M | -$2.38B | $915.38M | $1.77B | -$1.97B | -$1.95B | -$623.97M | $938.9M | -$2.48B | -$967.12M | -$1.55B | -$1.45B | -$9.28M | -$250.5M | -$189.2M |
| Financing Activities | ||||||||||||||||||||||||||||
| Debt Repaid | -$1.73B | -$550.88M | -$1.62B | -$1.18B | -$1.91B | $5.73B | -$1.37B | -$1.59B | -$366.29M | $22.06M | $88.35M | $254.08M | $280.29M | $132.12M | -$654.59M | -$211.79M | $166K | $153K | $144K | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $1.18M | $1.82M | $7.44M | $12.32M | $392.47M | $196.81M | $4.66M | $1.22M | $35.64M | $77.63M | $13.04M | $607.8M | $609K | $403.37M | $689.78M | $308.93M | $11.12M | $3M | $92.05M | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$15.31M | -$1.57M | -$7K | -$102.31M | -$85.59M | -$50.84M | $0 | $0 | $0 | $0 | $0 | $0 | -$112.28M | -$9.71M | $0 | $0 | $0 | $0 | $0 | -$6.13M | -$12.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$188.5M | -$143.87M | -$143.1M | -$184.03M | -$156.14M | -$113.51M | -$361.56M | -$329.76M | -$308.59M | -$297.89M | -$297.38M | -$294.67M | -$594.83M | -$341.23M | -$329.26M | -$260.23M | -$221.5M | -$130.84M | -$37.73M | -$24.24M | -$55.81M | -$77.39M | -$60.22M | -$47.57M | -$10.74M | -$5.32M | -$7.3M | -$5.6M |
| Other Financing Activities | -$177.11M | -$34.99M | -$12.59M | -$16.39M | -$7.14M | -$90.28M | -$40.03M | $1.06M | $30.43M | $14.64M | -$450.18M | -$561.64M | -$597.91M | -$113.82M | $1.17B | -$104.08M | -$82.76M | -$152.75M | -$4.9M | -$12.95M | -$134K | -$2.58M | -$137K | $35.76M | -$39M | $3.21M | -$100K | -$100K |
| Net Cash from Financing | $1.49B | $337.58M | $1.43B | $850.21M | $1.63B | -$5.74B | $964.92M | $1.63B | -$1.8B | -$1.02B | -$849.69M | -$1.09B | -$1.73B | $347.31M | $2.1B | -$1.47B | -$1.75B | $1.91B | $2.07B | $590.99M | -$1.08B | $2.28B | $930.59M | $1.48B | $1.47B | -$7.14M | $254.1M | $184.6M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $188.8M |
| Net Change in Cash | -$214.64M | $113.1M | -$5.87M | $89.63M | -$417.07M | $686.86M | $45.95M | -$375.03M | $189.65M | $95.11M | -$17.43M | -$382.93M | $164.08M | $7.27M | $48.78M | -$308.22M | $292.29M | $126.76M | $187.21M | -$17.1M | -$4.04M | -$71.37M | $75.62M | $5.55M | $50.13M | -$11.5M | $13.9M | $184.6M |
| Supplementary Data | ||||||||||||||||||||||||||||
| Operating Cash Flow | $76.25M | $200.12M | $108.74M | $366.08M | $120.29M | $38.4M | $215.78M | $147.88M | $176.07M | $85.51M | $282.17M | $255.81M | $298.09M | $310.39M | $334.41M | $245.94M | $269.96M | $186.43M | $68.68M | $15.88M | $136.19M | $128.3M | $112.15M | $83.37M | $21.67M | $4.92M | $10.3M | $400K |
| Capital Expenditure | $0 | $0 | $0 | -$300K | -$12.05M | -$4.86M | -$1.88M | -$1.13M | -$872K | -$708K | -$1.56M | -$786K | -$373K | -$443K | -$2.34M | -$438K | $12K | $0 | -$231K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $76.25M | $200.12M | $108.74M | $365.78M | $108.25M | $33.53M | $213.9M | $146.75M | $175.2M | $84.8M | $280.61M | $255.03M | $297.71M | $309.94M | $332.07M | $245.5M | $269.98M | $186.43M | $68.45M | $15.88M | $136.19M | $128.3M | $112.15M | $83.37M | $21.67M | $4.92M | $10.3M | $400K |
| Cash at Beginning | $601.31M | $488.21M | $494.08M | $404.45M | $821.52M | $134.66M | $88.71M | $463.74M | $260.11M | $165.01M | $182.44M | $565.37M | $401.29M | $394.02M | $345.24M | $653.46M | $361.17M | $234.41M | $47.2M | $64.3M | $68.34M | $139.71M | $64.09M | $58.53M | $8.4M | $19.9M | $6M | $10.1M |
| Cash at End | $386.67M | $601.31M | $488.21M | $494.08M | $404.45M | $821.52M | $134.66M | $88.71M | $449.76M | $260.11M | $165.01M | $182.44M | $565.37M | $401.29M | $394.02M | $345.24M | $653.46M | $361.17M | $234.41M | $47.2M | $64.3M | $68.34M | $139.71M | $64.09M | $58.53M | $8.4M | $19.9M | $194.7M |