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Side-by-side financial comparison of ImmunityBio, Inc. (IBRX) 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 $38.3M, roughly 1.4× ImmunityBio, Inc.). On growth, ImmunityBio, Inc. posted the faster year-over-year revenue change (407.0% vs 9.2%).
ImmunityBio, Inc. is a clinical-stage biotechnology company focused on developing next-generation immunotherapies and vaccine candidates targeting multiple cancer types and infectious diseases. It operates mainly in the U.S. market, with core R&D segments including cell therapy, antibody therapeutics, and targeted vaccine platforms designed to enhance patient treatment outcomes.
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.
IBRX vs MFA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.3M | $55.5M |
| Net Profit | $-61.9M | — |
| Gross Margin | 99.0% | — |
| Operating Margin | -169.0% | 97.9% |
| Net Margin | -161.8% | — |
| Revenue YoY | 407.0% | 9.2% |
| Net Profit YoY | -4.7% | — |
| EPS (diluted) | $-0.06 | $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 | $38.3M | $55.5M | ||
| Q3 25 | $32.1M | $56.8M | ||
| Q2 25 | $26.4M | $61.3M | ||
| Q1 25 | $16.5M | $57.5M | ||
| Q4 24 | $7.6M | $50.8M | ||
| Q3 24 | $6.1M | $50.6M | ||
| Q2 24 | — | $53.5M | ||
| Q1 24 | — | $47.8M |
| Q4 25 | $-61.9M | — | ||
| Q3 25 | $-67.3M | $48.1M | ||
| Q2 25 | $-92.6M | $33.2M | ||
| Q1 25 | $-129.6M | $41.2M | ||
| Q4 24 | $-59.2M | — | ||
| Q3 24 | $-85.7M | $48.2M | ||
| Q2 24 | — | $41.9M | ||
| Q1 24 | — | $23.2M |
| Q4 25 | 99.0% | — | ||
| Q3 25 | 99.4% | — | ||
| Q2 25 | 99.5% | — | ||
| Q1 25 | 99.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -169.0% | 97.9% | ||
| Q3 25 | -173.5% | 84.5% | ||
| Q2 25 | -269.8% | 54.5% | ||
| Q1 25 | -390.1% | 70.0% | ||
| Q4 24 | -919.0% | 6.8% | ||
| Q3 24 | -1314.3% | 98.2% | ||
| Q2 24 | — | 79.1% | ||
| Q1 24 | — | 50.7% |
| Q4 25 | -161.8% | — | ||
| Q3 25 | -209.8% | 84.7% | ||
| Q2 25 | -350.3% | 54.2% | ||
| Q1 25 | -784.9% | 71.6% | ||
| Q4 24 | -783.4% | — | ||
| Q3 24 | -1404.0% | 95.2% | ||
| Q2 24 | — | 78.4% | ||
| Q1 24 | — | 48.5% |
| Q4 25 | $-0.06 | $0.43 | ||
| Q3 25 | $-0.07 | $0.35 | ||
| Q2 25 | $-0.10 | $0.21 | ||
| Q1 25 | $-0.15 | $0.31 | ||
| Q4 24 | $-0.08 | $-0.01 | ||
| Q3 24 | $-0.14 | $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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $242.8M | $213.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-500.5M | $1.8B |
| Total Assets | $501.9M | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.8M | $213.2M | ||
| Q3 25 | $257.8M | $305.2M | ||
| Q2 25 | $153.7M | $275.7M | ||
| Q1 25 | $61.6M | $253.7M | ||
| Q4 24 | $149.8M | $338.9M | ||
| Q3 24 | $130.4M | $305.6M | ||
| Q2 24 | — | $289.4M | ||
| Q1 24 | — | $306.3M |
| Q4 25 | $-500.5M | $1.8B | ||
| Q3 25 | $-524.3M | $1.8B | ||
| Q2 25 | $-570.7M | $1.8B | ||
| Q1 25 | $-591.4M | $1.8B | ||
| Q4 24 | $-489.1M | $1.8B | ||
| Q3 24 | $-745.1M | $1.9B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.9B |
| Q4 25 | $501.9M | $13.0B | ||
| Q3 25 | $519.0M | $12.1B | ||
| Q2 25 | $402.1M | $11.7B | ||
| Q1 25 | $303.8M | $11.5B | ||
| Q4 24 | $382.9M | $11.4B | ||
| Q3 24 | $364.6M | $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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-70.4M | $76.2M |
| Free Cash FlowOCF − Capex | $-71.3M | — |
| FCF MarginFCF / Revenue | -186.2% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-308.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-70.4M | $76.2M | ||
| Q3 25 | $-68.9M | $14.7M | ||
| Q2 25 | $-79.7M | $38.5M | ||
| Q1 25 | $-85.9M | $-14.6M | ||
| Q4 24 | $-85.1M | $200.1M | ||
| Q3 24 | $-98.8M | $-11.3M | ||
| Q2 24 | — | $46.5M | ||
| Q1 24 | — | $53.5M |
| Q4 25 | $-71.3M | — | ||
| Q3 25 | $-69.6M | — | ||
| Q2 25 | $-80.8M | — | ||
| Q1 25 | $-87.0M | — | ||
| Q4 24 | $-87.3M | — | ||
| Q3 24 | $-101.6M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -186.2% | — | ||
| Q3 25 | -217.2% | — | ||
| Q2 25 | -305.9% | — | ||
| Q1 25 | -526.9% | — | ||
| Q4 24 | -1155.4% | — | ||
| Q3 24 | -1663.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 45.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.23× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 2.30× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
