MidCap Financial Investment Corp MFIC

Nasdaq

MidCap Financial Investment Corporation, a Maryland corporation organized on February 2, 2004, is a closed-end, externally managed, diversified management investment company that has elected to be treated as a BDC under the 1940 Act. In addition, for tax purposes we have elected to be treated as a RIC under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). We commenced operations on April 8, 2004 upon completion of our initial public offering that raised $870 million in net proceeds from selling 62 million shares of common stock at a price of $15.00 per share (20.7 million shares at a price of $45.00 per share adjusted for the one-for-three reverse stock split). Since then, and through December 31, 2025, we have raised approximately $2.68 billion in net proceeds from additional offerings of common stock and we have repurchased common stock for $267.1 million.

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Last close 10.26 2026-10-27

Market cap $845.1M 2026-06-30 share count

52-week range 8.11 - 12.34

Valuation FY2025 figures against the last close

P/S—

P/E—

P/FCF—

EV/EBITDA—

Dividend yield16.8%

Diluted EPS—

Annual financial statements

Income statement

Fiscal year	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2016	FY2015
Total operating expenses	$180.4M	$169.3M	$162.1M	—	$117.8M	$107.1M	—	—	—	—
Interest expense	—	—	$104.2M	—	$55.0M	$55.4M	—	—	—	—
Pre-tax income	$63.2M	$98.8M	$118.8M	—	—	—	—	—	—	—
Income tax	$0	$0	$0	—	—	—	—	—	—	—
Net income	$63.2M	$98.8M	$118.8M	—	$82.4M	$111.9M	—	—	—	—
EPS, basic	0.68	1.27	1.82	—	1.28	1.71	—	—	—	—
Shares, diluted (wtd. avg.)	93.3M	78.0M	65.3M	—	64.5M	65.3M	67.2M	70.6M	—	—

Balance sheet

Fiscal year	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2016	FY2015
Cash and equivalents	$98.2M	$74.4M	$122.1M	$87.1M	$30.6M	$54.6M	$43.7M	—	—	—
Total assets	$3.32B	$3.19B	$2.50B	$2.53B	$2.60B	—	—	—	—	—
Long-term debt	$2.00B	$1.75B	$1.46B	$1.48B	$1.55B	—	—	—	—	—
Total liabilities	$2.02B	$1.79B	$1.50B	$1.54B	$1.60B	—	—	—	—	—
Retained earnings	-$1.35B	-$1.25B	-$1.10B	-$1.12B	-$1.07B	—	—	—	—	—
Total equity	$1.31B	$1.40B	—	—	—	—	—	—	—	—

Cash flow

Fiscal year	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2016	FY2015
Operating cash flow	-$49.7M	-$9.5M	$196.4M	—	-$2.7M	$470.7M	—	—	—	—
Financing cash flow	$73.4M	-$36.8M	-$161.4M	—	-$21.3M	-$459.7M	—	—	—	—
Dividends paid	$141.6M	$139.6M	$123.5M	—	$93.3M	$105.7M	—	—	—	—
Buybacks	$19.0M	—	$2.3M	—	$17.1M	—	—	$50.0M	$50.0M	$50.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-076499.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)

Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity

Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks

Revenue
Gross profit
Net income

Fiscal year	FY2015	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Net income	—	—	—	—	$111.9M	$82.4M	—	$118.8M	$98.8M	$63.2M

Recent filings and events

2026-08-06 Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
2026-06-23 Shareholder vote The results of the annual meeting or a special vote. Item 5.07
2026-05-06 Results announced Item 2.02
2026-04-20 Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
2026-02-26 Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
2026-02-26 Results announced Item 2.02
2025-11-06 Results announced Item 2.02
2025-10-28 Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
2025-10-28 New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
2025-10-02 Material agreement signed Item 1.01
2025-10-02 New debt or obligation Item 2.03
2025-09-08 Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.