NMFC
New Mountain Finance Corporation9.58
-0.01-0.1%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details sale process, redeployment.
Q&A largely reaffirmed prepared remarks on the $477M portfolio sale, adding process details: Evercore-led auction drew multiple bids, with Coller buying at 94% of par plus $7M fees. Management picked concentrated PIK-heavy assets like Benevis—not distressed ones—to slash top exposures and PIK 20-25%, validating marks amid scrutiny. Proceeds target first-lien redeployment in widening spreads or buybacks, holding leverage at 1-1.25x. Sale proves portfolio's 95% green ratings. No contradictions surfaced. Investors eye execution on diversification.
Key Stats
Market Cap
988.23MP/E (TTM)
14.74Basic EPS (TTM)
0.65Dividend Yield
0.13%Recent Filings
8-K
Asset sale complete, facility extended
New Mountain Finance completed its $468M asset sale on March 10, 2026, offloading fifteen portfolio investments to Eagle entities at 94% of December 31, 2025 fair value, netting $60M cash but a $35M hit to net assets per pro forma statements. Two days later, it extended its credit facility's revolving period to March 2029 and maturity to 2031 while trimming the spread to 1.85%. Balance sheet shrinks sharply.
10-K
FY2025 results
NMFC's FY2025 portfolio fair value shrank 11% y/y to $2.74B across 113 companies, reflecting $602M debt repayments outpacing $401M new deals amid elevated prepays. Q4 saw sequential stabilization with YTM at cost dipping to 10.5% from 11.0%, yet first-lien weighting held steady at 66%. Defensive sectors like software (19%) and business services (19%) dominated, but unrealized depreciation accelerated to $163M (vs. $16M gain prior year), driven by Edmentum and Affordable Care pressures. Debt averaged $1.69B at 5.9% cost; $95M remains for buybacks. No annual guidance disclosed. Portfolio concentration risks persist.
8-K
Q4 earnings, asset sale, dividend cut
New Mountain Finance reported Q4 net investment income of $0.32 per share, matching its dividend, yet NAV fell to $11.52 from $12.06. It signed a deal to sell $477M assets at 94% of fair value to boost diversification and cut PIK income. Dividend drops to $0.25 per share in Q2 2026. Proactive moves sharpen focus.
8-K
Director retires; successor named
New Mountain Finance Corporation director Alfred F. Hurley, Jr. retired on January 15, 2026, after 15+ years, with no disagreements. Board swiftly appointed John P. Malfettone, 70, as replacement, tapping his deep finance creds from CD&R, Oak Hill, and GE. Smooth transition. Ensures continuity in oversight.
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