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Side-by-side financial comparison of Cheer Holding, Inc. (CHR) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.

Cheer Holding, Inc. is the larger business by last-quarter revenue ($71.0M vs $55.5M, roughly 1.3× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -0.1%).

Cheer Holding, Inc. is a diversified holding company primarily operating in the Chinese market, with core business segments covering early childhood education services, mobile lifestyle platforms, digital content offerings, and integrated consumer solutions for households and enterprise partners across multiple demand scenarios.

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.

CHR vs MFA — Head-to-Head

Bigger by revenue
CHR
CHR
1.3× larger
CHR
$71.0M
$55.5M
MFA
Growing faster (revenue YoY)
MFA
MFA
+9.3% gap
MFA
9.2%
-0.1%
CHR

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
CHR
CHR
MFA
MFA
Revenue
$71.0M
$55.5M
Net Profit
$7.8M
Gross Margin
70.7%
Operating Margin
11.7%
97.9%
Net Margin
10.9%
Revenue YoY
-0.1%
9.2%
Net Profit YoY
-37.5%
EPS (diluted)
$0.67
$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.

Revenue
CHR
CHR
MFA
MFA
Q4 25
$55.5M
Q3 25
$56.8M
Q2 25
$71.0M
$61.3M
Q1 25
$57.5M
Q4 24
$50.8M
Q3 24
$50.6M
Q2 24
$71.1M
$53.5M
Q1 24
$47.8M
Net Profit
CHR
CHR
MFA
MFA
Q4 25
Q3 25
$48.1M
Q2 25
$7.8M
$33.2M
Q1 25
$41.2M
Q4 24
Q3 24
$48.2M
Q2 24
$12.4M
$41.9M
Q1 24
$23.2M
Gross Margin
CHR
CHR
MFA
MFA
Q4 25
Q3 25
Q2 25
70.7%
Q1 25
Q4 24
Q3 24
Q2 24
73.4%
Q1 24
Operating Margin
CHR
CHR
MFA
MFA
Q4 25
97.9%
Q3 25
84.5%
Q2 25
11.7%
54.5%
Q1 25
70.0%
Q4 24
6.8%
Q3 24
98.2%
Q2 24
16.4%
79.1%
Q1 24
50.7%
Net Margin
CHR
CHR
MFA
MFA
Q4 25
Q3 25
84.7%
Q2 25
10.9%
54.2%
Q1 25
71.6%
Q4 24
Q3 24
95.2%
Q2 24
17.5%
78.4%
Q1 24
48.5%
EPS (diluted)
CHR
CHR
MFA
MFA
Q4 25
$0.43
Q3 25
$0.35
Q2 25
$0.67
$0.21
Q1 25
$0.31
Q4 24
$-0.01
Q3 24
$0.37
Q2 24
$1.23
$0.32
Q1 24
$0.14

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CHR
CHR
MFA
MFA
Cash + ST InvestmentsLiquidity on hand
$213.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$322.1M
$1.8B
Total Assets
$362.7M
$13.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CHR
CHR
MFA
MFA
Q4 25
$213.2M
Q3 25
$305.2M
Q2 25
$275.7M
Q1 25
$253.7M
Q4 24
$338.9M
Q3 24
$305.6M
Q2 24
$186.1M
$289.4M
Q1 24
$306.3M
Stockholders' Equity
CHR
CHR
MFA
MFA
Q4 25
$1.8B
Q3 25
$1.8B
Q2 25
$322.1M
$1.8B
Q1 25
$1.8B
Q4 24
$1.8B
Q3 24
$1.9B
Q2 24
$286.1M
$1.9B
Q1 24
$1.9B
Total Assets
CHR
CHR
MFA
MFA
Q4 25
$13.0B
Q3 25
$12.1B
Q2 25
$362.7M
$11.7B
Q1 25
$11.5B
Q4 24
$11.4B
Q3 24
$11.2B
Q2 24
$333.2M
$11.1B
Q1 24
$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
CHR
CHR
MFA
MFA
Operating Cash FlowLast quarter
$3.9M
$76.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.51×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CHR
CHR
MFA
MFA
Q4 25
$76.2M
Q3 25
$14.7M
Q2 25
$3.9M
$38.5M
Q1 25
$-14.6M
Q4 24
$200.1M
Q3 24
$-11.3M
Q2 24
$-6.7M
$46.5M
Q1 24
$53.5M
Cash Conversion
CHR
CHR
MFA
MFA
Q4 25
Q3 25
0.31×
Q2 25
0.51×
1.16×
Q1 25
-0.35×
Q4 24
Q3 24
-0.23×
Q2 24
-0.54×
1.11×
Q1 24
2.30×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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