New Mountain Finance Corporation (Nasdaq: NMFC), a business development company, is a private equity/buyouts and loan fund that specializes in directly investing and lending to middle market. The company carries a $671.6M market cap, placing it firmly in the small-cap category. The fund prefers investing in buyout and middle market companies.
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The company holds $51.1M in cash, though total debt stands at $1.33B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Annual free cash flow of $94.3M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. ROE of -4.8% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. An ROA of 5.6% suggests reasonable efficiency in deploying the company's asset base. Revenue has pulled back from $203.6M (2021) to $14.8M (2025), a 93% decline worth watching.
The relatively low beta of 0.61 suggests NMFC is a less volatile holding compared to the broader index. New Mountain Finance Corporation carries a heavier debt load relative to its cash position, which introduces financial risk that investors should weigh. No single metric tells the full story. Reviewing NMFC's risk profile alongside its fundamentals and technical indicators provides a more complete picture.