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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.
MFA FINANCIAL, INC. is the larger business by last-quarter revenue ($55.5M vs $28.2M, roughly 2.0× Arena Group Holdings, Inc.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -22.0%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs -1.2%).
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
AREN vs MFA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $55.5M |
| Net Profit | $5.3M | — |
| Gross Margin | 43.6% | — |
| Operating Margin | 26.6% | 97.9% |
| Net Margin | 18.9% | — |
| Revenue YoY | -22.0% | 9.2% |
| Net Profit YoY | -22.5% | — |
| EPS (diluted) | $0.12 | $0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $28.2M | $55.5M | ||
| Q3 25 | $29.8M | $56.8M | ||
| Q2 25 | $45.0M | $61.3M | ||
| Q1 25 | $31.8M | $57.5M | ||
| Q4 24 | $36.2M | $50.8M | ||
| Q3 24 | $33.6M | $50.6M | ||
| Q2 24 | $27.2M | $53.5M | ||
| Q1 24 | $28.9M | $47.8M |
| Q4 25 | $5.3M | — | ||
| Q3 25 | $6.9M | $48.1M | ||
| Q2 25 | $108.6M | $33.2M | ||
| Q1 25 | $4.0M | $41.2M | ||
| Q4 24 | $6.9M | — | ||
| Q3 24 | $4.0M | $48.2M | ||
| Q2 24 | $-8.2M | $41.9M | ||
| Q1 24 | $-103.4M | $23.2M |
| Q4 25 | 43.6% | — | ||
| Q3 25 | 50.2% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 52.6% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 39.4% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | 26.6% | 97.9% | ||
| Q3 25 | 31.9% | 84.5% | ||
| Q2 25 | 36.5% | 54.5% | ||
| Q1 25 | 23.1% | 70.0% | ||
| Q4 24 | 28.6% | 6.8% | ||
| Q3 24 | 24.0% | 98.2% | ||
| Q2 24 | -9.5% | 79.1% | ||
| Q1 24 | -27.5% | 50.7% |
| Q4 25 | 18.9% | — | ||
| Q3 25 | 23.1% | 84.7% | ||
| Q2 25 | 241.4% | 54.2% | ||
| Q1 25 | 12.6% | 71.6% | ||
| Q4 24 | 19.0% | — | ||
| Q3 24 | 11.8% | 95.2% | ||
| Q2 24 | -30.1% | 78.4% | ||
| Q1 24 | -357.1% | 48.5% |
| Q4 25 | $0.12 | $0.43 | ||
| Q3 25 | $0.14 | $0.35 | ||
| Q2 25 | $2.28 | $0.21 | ||
| Q1 25 | $0.08 | $0.31 | ||
| Q4 24 | $1.23 | $-0.01 | ||
| Q3 24 | $0.11 | $0.37 | ||
| Q2 24 | $-0.28 | $0.32 | ||
| Q1 24 | $-3.91 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | $213.2M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $1.8B |
| Total Assets | $112.6M | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $213.2M | ||
| Q3 25 | $12.5M | $305.2M | ||
| Q2 25 | $6.8M | $275.7M | ||
| Q1 25 | $2.9M | $253.7M | ||
| Q4 24 | $4.4M | $338.9M | ||
| Q3 24 | $5.8M | $305.6M | ||
| Q2 24 | $6.1M | $289.4M | ||
| Q1 24 | $4.0M | $306.3M |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $1.8B | ||
| Q3 25 | $-10.4M | $1.8B | ||
| Q2 25 | $-17.3M | $1.8B | ||
| Q1 25 | $-126.1M | $1.8B | ||
| Q4 24 | $-130.3M | $1.8B | ||
| Q3 24 | $-137.5M | $1.9B | ||
| Q2 24 | $-157.2M | $1.9B | ||
| Q1 24 | $-149.6M | $1.9B |
| Q4 25 | $112.6M | $13.0B | ||
| Q3 25 | $121.4M | $12.1B | ||
| Q2 25 | $127.8M | $11.7B | ||
| Q1 25 | $114.6M | $11.5B | ||
| Q4 24 | $116.4M | $11.4B | ||
| Q3 24 | $114.2M | $11.2B | ||
| Q2 24 | $113.4M | $11.1B | ||
| Q1 24 | $120.3M | $10.9B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.1M | $76.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 2.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $76.2M | ||
| Q3 25 | $12.2M | $14.7M | ||
| Q2 25 | $10.3M | $38.5M | ||
| Q1 25 | $3.7M | $-14.6M | ||
| Q4 24 | $-8.6M | $200.1M | ||
| Q3 24 | $-2.3M | $-11.3M | ||
| Q2 24 | $-3.2M | $46.5M | ||
| Q1 24 | $-2.0M | $53.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | 0.31× | ||
| Q2 25 | 0.09× | 1.16× | ||
| Q1 25 | 0.91× | -0.35× | ||
| Q4 24 | -1.25× | — | ||
| Q3 24 | -0.59× | -0.23× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 2.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
