New Mountain Finance Corp NMFC
New Mountain Finance Corporation ("NMFC", the "Company", "we", "us" or "our") is a Delaware corporation that was originally incorporated on June 29, 2010 and completed its initial public offering ("IPO") on May 19, 2011. We are a closed-end, non-diversified management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). We have elected to be treated, and intend to comply with the requirements to continue to qualify annually, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). Since our IPO, and through December 31, 2025, we have raised approximately $1,034.6 million in net proceeds from additional offerings of common stock.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Interest expense | — | — | $124.8M | $92.4M | $73.1M | $78.0M | — | — |
| Pre-tax income | $16.9M | $115.8M | $137.1M | $84.0M | $201.6M | $59.5M | — | — |
| Income tax | $430.0K | $2.4M | $1.8M | $9.3M | $232.0K | $991.0K | — | — |
| Net income | $16.5M | $113.4M | $135.3M | $74.7M | $201.4M | $58.5M | — | — |
| EPS, basic | 0.16 | 1.06 | 1.34 | 0.75 | 2.08 | 0.60 | — | — |
| EPS, diluted | 0.16 | 1.03 | 1.24 | 0.74 | 1.91 | 0.60 | — | — |
| Shares, diluted (wtd. avg.) | $121.1M | $125.5M | $123.5M | $100.2M | $97.0M | $96.8M | $85.2M | $76.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $80.7M | $80.3M | $70.1M | $71.2M | $58.1M | $79.0M | $48.6M | — |
| Total assets | $2.90B | $3.25B | $3.16B | $3.35B | $3.30B | — | — | — |
| Long-term debt | $1.67B | $1.84B | $1.79B | $1.98B | $1.91B | — | — | — |
| Total liabilities | $1.71B | $1.89B | $1.83B | $2.03B | $1.95B | — | — | — |
| Retained earnings | -$121.7M | -$13.6M | -$12.3M | $7.5M | $47.5M | -$48.8M | — | — |
| Total equity | $1.18B | $1.35B | $1.33B | $1.33B | $1.34B | $1.24B | $1.28B | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $379.0M | $42.0M | $332.7M | $35.0M | -$22.1M | $301.1M | — | — |
| Financing cash flow | -$378.7M | -$31.4M | -$333.9M | -$21.5M | $1.2M | -$270.7M | — | — |
| Dividends paid | $135.7M | $147.2M | $150.7M | $121.3M | $114.2M | $120.1M | — | — |
| Buybacks | $52.0M | $0 | $0 | — | — | — | — | — |
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 0001496099-26-000008.