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

DHT Holdings, Inc. is the larger business by last-quarter revenue ($107.3M vs $55.5M, roughly 1.9× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -24.5%).

DHT Holdings, Inc. is an independent international crude oil tanker operator that owns and manages a fleet of very large crude carriers. It offers marine transportation services for crude oil across major global trade routes, serving clients including leading oil producers, refineries, and commodity trading enterprises worldwide.

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.

DHT vs MFA — Head-to-Head

Bigger by revenue
DHT
DHT
1.9× larger
DHT
$107.3M
$55.5M
MFA
Growing faster (revenue YoY)
MFA
MFA
+33.7% gap
MFA
9.2%
-24.5%
DHT

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
DHT
DHT
MFA
MFA
Revenue
$107.3M
$55.5M
Net Profit
$44.8M
Gross Margin
Operating Margin
44.2%
97.9%
Net Margin
41.7%
Revenue YoY
-24.5%
9.2%
Net Profit YoY
27.3%
EPS (diluted)
$0.28
$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
DHT
DHT
MFA
MFA
Q4 25
$55.5M
Q3 25
$107.3M
$56.8M
Q2 25
$61.3M
Q1 25
$57.5M
Q4 24
$50.8M
Q3 24
$142.1M
$50.6M
Q2 24
$53.5M
Q1 24
$47.8M
Net Profit
DHT
DHT
MFA
MFA
Q4 25
Q3 25
$44.8M
$48.1M
Q2 25
$33.2M
Q1 25
$41.2M
Q4 24
Q3 24
$35.2M
$48.2M
Q2 24
$41.9M
Q1 24
$23.2M
Operating Margin
DHT
DHT
MFA
MFA
Q4 25
97.9%
Q3 25
44.2%
84.5%
Q2 25
54.5%
Q1 25
70.0%
Q4 24
6.8%
Q3 24
29.7%
98.2%
Q2 24
79.1%
Q1 24
50.7%
Net Margin
DHT
DHT
MFA
MFA
Q4 25
Q3 25
41.7%
84.7%
Q2 25
54.2%
Q1 25
71.6%
Q4 24
Q3 24
24.8%
95.2%
Q2 24
78.4%
Q1 24
48.5%
EPS (diluted)
DHT
DHT
MFA
MFA
Q4 25
$0.43
Q3 25
$0.28
$0.35
Q2 25
$0.21
Q1 25
$0.31
Q4 24
$-0.01
Q3 24
$0.22
$0.37
Q2 24
$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
DHT
DHT
MFA
MFA
Cash + ST InvestmentsLiquidity on hand
$81.3M
$213.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.1B
$1.8B
Total Assets
$1.4B
$13.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DHT
DHT
MFA
MFA
Q4 25
$213.2M
Q3 25
$81.3M
$305.2M
Q2 25
$275.7M
Q1 25
$253.7M
Q4 24
$338.9M
Q3 24
$73.8M
$305.6M
Q2 24
$289.4M
Q1 24
$306.3M
Stockholders' Equity
DHT
DHT
MFA
MFA
Q4 25
$1.8B
Q3 25
$1.1B
$1.8B
Q2 25
$1.8B
Q1 25
$1.8B
Q4 24
$1.8B
Q3 24
$1.0B
$1.9B
Q2 24
$1.9B
Q1 24
$1.9B
Total Assets
DHT
DHT
MFA
MFA
Q4 25
$13.0B
Q3 25
$1.4B
$12.1B
Q2 25
$11.7B
Q1 25
$11.5B
Q4 24
$11.4B
Q3 24
$1.5B
$11.2B
Q2 24
$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
DHT
DHT
MFA
MFA
Operating Cash FlowLast quarter
$60.9M
$76.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
1.36×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DHT
DHT
MFA
MFA
Q4 25
$76.2M
Q3 25
$60.9M
$14.7M
Q2 25
$38.5M
Q1 25
$-14.6M
Q4 24
$200.1M
Q3 24
$80.1M
$-11.3M
Q2 24
$46.5M
Q1 24
$53.5M
Cash Conversion
DHT
DHT
MFA
MFA
Q4 25
Q3 25
1.36×
0.31×
Q2 25
1.16×
Q1 25
-0.35×
Q4 24
Q3 24
2.28×
-0.23×
Q2 24
1.11×
Q1 24
2.30×

Financial Flow Comparison

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

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