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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
OneSpan Inc. is the larger business by last-quarter revenue ($65.9M vs $55.5M, roughly 1.2× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs 4.1%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs 4.0%).
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.
OneSpan Inc. is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.
MFA vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $65.9M |
| Net Profit | — | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 97.9% | 22.5% |
| Net Margin | — | 17.5% |
| Revenue YoY | 9.2% | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.43 | $0.39 |
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 | — | $65.9M | ||
| Q4 25 | $55.5M | $62.9M | ||
| Q3 25 | $56.8M | $57.1M | ||
| Q2 25 | $61.3M | $59.8M | ||
| Q1 25 | $57.5M | $63.4M | ||
| Q4 24 | $50.8M | $61.2M | ||
| Q3 24 | $50.6M | $56.2M | ||
| Q2 24 | $53.5M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | — | $43.5M | ||
| Q3 25 | $48.1M | $6.5M | ||
| Q2 25 | $33.2M | $8.3M | ||
| Q1 25 | $41.2M | $14.5M | ||
| Q4 24 | — | $28.8M | ||
| Q3 24 | $48.2M | $8.3M | ||
| Q2 24 | $41.9M | $6.6M |
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 74.3% | ||
| Q4 24 | — | 74.0% | ||
| Q3 24 | — | 73.9% | ||
| Q2 24 | — | 66.2% |
| Q1 26 | — | 22.5% | ||
| Q4 25 | 97.9% | 19.9% | ||
| Q3 25 | 84.5% | 14.4% | ||
| Q2 25 | 54.5% | 17.6% | ||
| Q1 25 | 70.0% | 27.1% | ||
| Q4 24 | 6.8% | 19.3% | ||
| Q3 24 | 98.2% | 20.0% | ||
| Q2 24 | 79.1% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | — | 69.2% | ||
| Q3 25 | 84.7% | 11.4% | ||
| Q2 25 | 54.2% | 13.9% | ||
| Q1 25 | 71.6% | 22.9% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | 95.2% | 14.7% | ||
| Q2 24 | 78.4% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.43 | $1.13 | ||
| Q3 25 | $0.35 | $0.17 | ||
| Q2 25 | $0.21 | $0.21 | ||
| Q1 25 | $0.31 | $0.37 | ||
| Q4 24 | $-0.01 | $0.73 | ||
| Q3 24 | $0.37 | $0.21 | ||
| Q2 24 | $0.32 | $0.17 |
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 | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $272.0M |
| Total Assets | $13.0B | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $213.2M | $70.5M | ||
| Q3 25 | $305.2M | $85.6M | ||
| Q2 25 | $275.7M | $92.9M | ||
| Q1 25 | $253.7M | $105.2M | ||
| Q4 24 | $338.9M | $83.2M | ||
| Q3 24 | $305.6M | $77.5M | ||
| Q2 24 | $289.4M | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $1.8B | $271.8M | ||
| Q3 25 | $1.8B | $238.3M | ||
| Q2 25 | $1.8B | $242.5M | ||
| Q1 25 | $1.8B | $231.1M | ||
| Q4 24 | $1.8B | $212.5M | ||
| Q3 24 | $1.9B | $194.6M | ||
| Q2 24 | $1.9B | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $13.0B | $397.7M | ||
| Q3 25 | $12.1B | $343.5M | ||
| Q2 25 | $11.7B | $357.1M | ||
| Q1 25 | $11.5B | $333.8M | ||
| Q4 24 | $11.4B | $338.7M | ||
| Q3 24 | $11.2B | $289.3M | ||
| Q2 24 | $11.1B | $286.9M |
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 | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $76.2M | $12.6M | ||
| Q3 25 | $14.7M | $11.3M | ||
| Q2 25 | $38.5M | $6.2M | ||
| Q1 25 | $-14.6M | $29.4M | ||
| Q4 24 | $200.1M | $12.4M | ||
| Q3 24 | $-11.3M | $14.0M | ||
| Q2 24 | $46.5M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.6M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | — | $4.4M | ||
| Q1 25 | — | $27.7M | ||
| Q4 24 | — | $10.5M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | — | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | — | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | 0.31× | 1.74× | ||
| Q2 25 | 1.16× | 0.75× | ||
| Q1 25 | -0.35× | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | -0.23× | 1.69× | ||
| Q2 24 | 1.11× | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MFA
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
