MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MFICL SEC filings page.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) reported $280.4M in revenue over the twelve months to Sep 30, 2026, down 13.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The reported asset base expanded, but higher liabilities and interest expense accompanied a sharp decline in annual earnings.
Asset growth and earnings moved apart: between FY2023 and FY2025, total assets increased32.9% while net income decreased46.8% , indicating expansion did not translate proportionally into reported earnings. Interest expense increased22.0% over the same span, linking the earnings compression to a heavier financing burden rather than simple asset expansion alone.
FY2025 ended with total liabilities of
Cash distributions remained substantial: dividends were
Financial Health Signals
We do not publish a peer-relative financial health score for MidCap Financial Investment Corporation 8.00% Notes due 2028, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
MidCap Financial Investment Corporation 8.00% Notes due 2028 passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, MidCap Financial Investment Corporation 8.00% Notes due 2028 used $0.79 of operating cash (-$49.7M OCF vs $63.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
MidCap Financial Investment Corporation 8.00% Notes due 2028 generated $62.0M in revenue in Q3 2026. This represents a decrease of 24.9% from the same quarter a year earlier. Against the prior quarter it is down 9.2%.
MidCap Financial Investment Corporation 8.00% Notes due 2028 reported a net loss of $16.4M in Q3 2026. This represents a decrease of 159.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
MidCap Financial Investment Corporation 8.00% Notes due 2028 held $57.4M in cash against $1.6B in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
MidCap Financial Investment Corporation 8.00% Notes due 2028's net profit margin was -26.5% in Q3 2026, showing the share of revenue converted to profit. This is down 59.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
MidCap Financial Investment Corporation 8.00% Notes due 2028's quarterly ROE was -1.6% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 3.6 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
MidCap Financial Investment Corporation 8.00% Notes due 2028 repurchased no shares in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 100.0%.
Not reported for Q3 2026.
Not reported for Q3 2026.
MFICL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62.0M-24.9% | $68.2M-16.0% | $71.8M-8.7% | $78.4M-4.6% | $82.6M+0.5% | $81.2M+17.5% | $78.7M+15.2% | $82.2M+14.2% |
| Interest Expense | $26.0M-21.2% | $27.1M-16.9% | $28.5M-6.5% | $31.0M+0.2% | $33.0M+3.7% | $32.6M+20.7% | $30.5M+16.4% | $30.9M |
| Net Income | -$16.4M-159.9% | -$17.5M-196.6% | -$26.9M-188.6% | -$12.7M-152.9% | $27.5M+2.8% | $18.1M-19.7% | $30.3M+19.0% | $24.1M-27.7% |
| EPS (Basic) | -$0.20-169.0% | -$0.21-210.5% | -$0.30-193.8% | -$0.13-154.2% | $0.29-6.5% | $0.19-45.7% | $0.32-17.9% | $0.24-52.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Income Tax, EPS (Diluted), Diluted Shares (Avg).
MFICL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.7B-19.8% | $2.9B-17.4% | $3.1B-8.5% | $3.3B+4.2% | $3.3B+2.9% | $3.5B+35.7% | $3.4B+37.2% | $3.2B+27.6% |
| Cash & Equivalents | $57.4M-8.2% | $43.3M-37.3% | $42.6M-49.1% | $98.2M+32.0% | $62.5M-26.0% | $69.0M+4.3% | $83.7M+68.7% | $74.4M-20.5% |
| Total Liabilities | $1.6B-17.8% | $1.8B-15.7% | $1.9B-3.5% | $2.0B+12.9% | $1.9B+7.9% | $2.1B+34.8% | $2.0B+36.4% | $1.8B+19.4% |
| Long-Term Debt | $1.6B-17.6% | $1.7B-15.2% | $1.9B-3.4% | $2.0B+13.9% | $1.9B+8.0% | $2.1B+35.7% | $1.9B+37.7% | $1.8B |
| Total Equity | $1.1B-22.6% | $1.1B-20.0% | $1.2B-15.6% | $1.3B-6.9% | $1.4B-3.4% | $1.4B+37.1% | $1.4B+38.5% | $1.4B+39.7% |
| Retained Earnings | -$1.5Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.3Bn/m | -$1.3Bn/m | -$1.3Bn/m | -$1.3Bn/m | -$1.3Bn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
MFICL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $202.7M+21.9% | $189.3Mn/m | $169.4Mn/m | $6.3M-88.4% | $166.3Mn/m | -$91.0Mn/m | -$131.3M-1501.1% | $54.8M-30.2% |
| Financing Cash Flow | -$188.4Mn/m | -$188.7M-342.3% | -$226.1M-260.9% | $26.7Mn/m | -$171.7M-715.4% | $77.9M-3.9% | $140.5Mn/m | -$63.8M-12018.7% |
| Dividends Paid | $25.5M-28.0% | $25.5M-28.0% | $28.1M-21.1% | $35.0M-1.7% | $35.5M-34.8% | $35.5M+43.0% | $35.6M+43.7% | $35.6M+43.7% |
| Share Buybacks | $0n/m | $31.9Mn/m | $76.0M+1150.6% | $12.9M | $0 | $0 | $6.1M | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow.
MFICL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -26.5%-59.8pp | -25.7%-48.0pp | -37.4%-76.0pp | -16.3%-45.5pp | 33.3%+0.7pp | 22.3%-10.3pp | 38.5%+1.2pp | 29.3%-16.9pp |
| Return on Equity | -1.6%-3.6pp | -1.6%-2.9pp | -2.3%-4.5pp | -1.0%-2.7pp | 2.0%+0.1pp | 1.3%-0.9pp | 2.2%-0.3pp | 1.7%-1.6pp |
| Return on Assets | -0.6%-1.4pp | -0.6%-1.1pp | -0.9%-1.8pp | -0.4%-1.1pp | 0.8%0.0pp | 0.5%-0.4pp | 0.9%-0.1pp | 0.8%-0.6pp |
| Debt-to-Equity | 1.49+0.1x | 1.58+0.1x | 1.59+0.2x | 1.53+0.3x | 1.40+0.1x | 1.490.0x | 1.390.0x | 1.25 |
| Liabilities-to-Equity | 1.51+0.1x | 1.60+0.1x | 1.61+0.2x | 1.54+0.3x | 1.42+0.1x | 1.520.0x | 1.410.0x | 1.27-0.2x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.030.0x | 0.020.0x | 0.020.0x | 0.030.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Where MidCap Financial Investment Corporation 8.00% Notes due 2028 Ranks
Frequently Asked Questions
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) reported $320.9M in total revenue for fiscal year 2025. This represents a 6.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) revenue grew by 6.3% year-over-year, from $301.8M to $320.9M in fiscal year 2025.
No, MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) reported a net loss of $73.5M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $63.2M, with a net profit margin of 19.7%.
As of fiscal year 2025, MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had $98.2M in cash and equivalents against $2.0B in long-term debt.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had a net profit margin of 19.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) has a return on equity of 4.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) recorded an outflow of $49.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had $3.3B in total assets as of fiscal year 2025, including both current and long-term assets.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had a debt-to-equity ratio of 1.53 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had a liabilities-to-equity ratio of 1.54 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, MidCap Financial Investment Corporation 8.00% Notes due 2028 (MFICL) used $0.79 of operating cash (-$49.7M OCF vs $63.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.