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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $55.5M, roughly 1.0× MFA FINANCIAL, INC.). On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 9.2%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs 7.7%).
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.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
MFA vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $57.1M |
| Net Profit | — | $5.7M |
| Gross Margin | — | — |
| Operating Margin | 97.9% | 34.1% |
| Net Margin | — | 10.0% |
| Revenue YoY | 9.2% | 24.3% |
| Net Profit YoY | — | 235.9% |
| EPS (diluted) | $0.43 | $0.32 |
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.
| Q1 26 | — | $57.1M | ||
| Q4 25 | $55.5M | $52.5M | ||
| Q3 25 | $56.8M | $48.3M | ||
| Q2 25 | $61.3M | $48.3M | ||
| Q1 25 | $57.5M | $45.9M | ||
| Q4 24 | $50.8M | $44.1M | ||
| Q3 24 | $50.6M | $41.4M | ||
| Q2 24 | $53.5M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | — | $1.3M | ||
| Q3 25 | $48.1M | $618.0K | ||
| Q2 25 | $33.2M | $3.3M | ||
| Q1 25 | $41.2M | $1.7M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $48.2M | $-5.3M | ||
| Q2 24 | $41.9M | $-2.3M |
| Q1 26 | — | 34.1% | ||
| Q4 25 | 97.9% | 2.6% | ||
| Q3 25 | 84.5% | 1.3% | ||
| Q2 25 | 54.5% | 6.8% | ||
| Q1 25 | 70.0% | 3.7% | ||
| Q4 24 | 6.8% | -12.3% | ||
| Q3 24 | 98.2% | -12.8% | ||
| Q2 24 | 79.1% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | 84.7% | 1.3% | ||
| Q2 25 | 54.2% | 6.8% | ||
| Q1 25 | 71.6% | 3.7% | ||
| Q4 24 | — | -12.3% | ||
| Q3 24 | 95.2% | -12.8% | ||
| Q2 24 | 78.4% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.43 | $0.01 | ||
| Q3 25 | $0.35 | $0.01 | ||
| Q2 25 | $0.21 | $0.04 | ||
| Q1 25 | $0.31 | $0.02 | ||
| Q4 24 | $-0.01 | $-0.07 | ||
| Q3 24 | $0.37 | $-0.07 | ||
| Q2 24 | $0.32 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $213.2M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $1.5B |
| Total Assets | $13.0B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 | $289.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $13.0B | $2.6B | ||
| Q3 25 | $12.1B | $2.5B | ||
| Q2 25 | $11.7B | $2.3B | ||
| Q1 25 | $11.5B | $2.3B | ||
| Q4 24 | $11.4B | $2.3B | ||
| Q3 24 | $11.2B | $2.2B | ||
| Q2 24 | $11.1B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | $76.2M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.2M | $109.5M | ||
| Q3 25 | $14.7M | $28.0M | ||
| Q2 25 | $38.5M | $30.6M | ||
| Q1 25 | $-14.6M | $22.1M | ||
| Q4 24 | $200.1M | $90.2M | ||
| Q3 24 | $-11.3M | $25.1M | ||
| Q2 24 | $46.5M | $25.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 82.46× | ||
| Q3 25 | 0.31× | 45.27× | ||
| Q2 25 | 1.16× | 9.36× | ||
| Q1 25 | -0.35× | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.23× | — | ||
| Q2 24 | 1.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MFA
Segment breakdown not available.
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
