New Mountain Finance Corporation (NMFC) Stock

New Mountain Finance Corporation (NMFC) is a Financial Services stock trading at $6.84 (as of 2026-07-24), with a market capitalization of $646.05M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

New Mountain Finance Corporation is a business development company that invests in and lends to middle-market companies, with activities that include providing debt securities across different parts of the capital structure (such as first and second lien debt and unsecured notes), and in some cases equity interests. It targets a range of industries and focuses on investing in U.S. companies.

Understand New Mountain Finance Corporation: how it makes money

New Mountain Finance Corporation is a business development company that directly invests in and lends to middle market companies, making loans across the capital structure (including first and second lien debt, unsecured notes, and mezzanine), and sometimes taking equity; it earns returns from these investments and their repayment activity.

The profit model is a repeatable lending and investing cycle, where investment originations expand the portfolio, repayments shrink it, and credit performance shows up in non-accrual levels and investment fair value changes.

Business quality (Weak): The company is easy to understand structurally (direct middle market lending across multiple debt types), and the provided operating metrics directly track portfolio fair value, origination activity, and non-accrual risk, but there is no reportable segment breakdown or margin detail in the provided facts, limiting confirmation of where profits come from beyond portfolio and credit metrics.

Bull case

  • Direct lending focus with measurable activity: The operating metrics provided include both origination measures (including Investment Originations Excluding Payment-in-Kind, and Investments Originated) and portfolio size (Investment Portfolio Fair Value).
  • Credit stress appears contained in the latest quarter: Non-Accruing Assets as a Percentage of Portfolio is 2.6, and Investments on Non-Accrual Fair Value is 0.05 USD_B.

Bear case

  • Results can be sensitive to credit deterioration: If more assets move onto non-accrual, the Non-Accruing Assets as a Percentage of Portfolio and Investments on Non-Accrual Fair Value would likely rise, which can pressure the portfolio’s fair value.
  • Fair value can fluctuate: Because the portfolio is marked to fair value (Investment Portfolio Fair Value), changes in valuation can swing reported results even without changes in new investment activity.
Valuation — source: SEC EDGAR (first-party)
Price$6.84
Market Cap$646.05M
Price / Book0.62
Price / Sales2.03
DCF Value (model)$1.65
DCF Upside vs Price-75.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$327.08M
Net Margin5.0%
Revenue Growth (YoY)-12.0%
EPS Growth (YoY)-84.9%
Valuation vs Sector & Industry
Sector P/E (Financial Services)8.9
Industry P/E (Asset Management)8.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderLSV ASSET MANAGEMENT ($23.45M)
Institutional Holders Tracked10
Company
SectorFinancial Services
IndustryAsset Management
CEOJohn R. Kline
Employees0
CountryUS
IPO Date2011-05-20

Related Companies (Business model: Closed-End Fund; 8 closest by market cap; US-domiciled)

  • Fidus Investment Corporation (FDUS)
  • SLR Investment Corp. (SLRC)
  • Carlyle Secured Lending, Inc. (CGBD)
  • PennantPark Floating Rate Capital Ltd. (PFLT)
  • LightPath Technologies, Inc. (LPTH)
  • Gladstone Investment Corporation (GAIN)
  • Launch Two Acquisition Corp. (LPBB)
  • Nuveen Churchill Direct Lending Corp. (NCDL)
NMFC earnings history · NMFC institutional & insider holders · NMFC KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.