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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and Prairie Operating Co. (PROP). Click either name above to swap in a different company.

Prairie Operating Co. is the larger business by last-quarter revenue ($77.7M vs $55.5M, roughly 1.4× MFA FINANCIAL, INC.). Over the past eight quarters, Prairie Operating Co.'s revenue compounded faster (9784.4% 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.

Prairie Farms Dairy is a dairy cooperative founded in Carlinville, Illinois, and now headquartered in Edwardsville, Illinois. As a dairy cooperative, Prairie Farms receives milk from producers and converts it into many different products, including cheese, butter, ice cream, sour cream, cottage cheese, various dips, yogurt, and fluid milk. Prairie Farms also produces and sells juices, flavored drinks, and pre-made iced tea.

MFA vs PROP — Head-to-Head

Bigger by revenue
PROP
PROP
1.4× larger
PROP
$77.7M
$55.5M
MFA
Faster 2-yr revenue CAGR
PROP
PROP
Annualised
PROP
9784.4%
7.7%
MFA

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
MFA
MFA
PROP
PROP
Revenue
$55.5M
$77.7M
Net Profit
$1.3M
Gross Margin
Operating Margin
97.9%
34.8%
Net Margin
1.7%
Revenue YoY
9.2%
Net Profit YoY
111.3%
EPS (diluted)
$0.43
$-0.44

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
MFA
MFA
PROP
PROP
Q4 25
$55.5M
Q3 25
$56.8M
$77.7M
Q2 25
$61.3M
$68.1M
Q1 25
$57.5M
$13.6M
Q4 24
$50.8M
Q3 24
$50.6M
$0
Q2 24
$53.5M
Q1 24
$47.8M
Net Profit
MFA
MFA
PROP
PROP
Q4 25
Q3 25
$48.1M
$1.3M
Q2 25
$33.2M
$35.7M
Q1 25
$41.2M
$-2.6M
Q4 24
Q3 24
$48.2M
$-11.4M
Q2 24
$41.9M
Q1 24
$23.2M
Operating Margin
MFA
MFA
PROP
PROP
Q4 25
97.9%
Q3 25
84.5%
34.8%
Q2 25
54.5%
27.8%
Q1 25
70.0%
12.9%
Q4 24
6.8%
Q3 24
98.2%
Q2 24
79.1%
Q1 24
50.7%
Net Margin
MFA
MFA
PROP
PROP
Q4 25
Q3 25
84.7%
1.7%
Q2 25
54.2%
52.4%
Q1 25
71.6%
-19.3%
Q4 24
Q3 24
95.2%
Q2 24
78.4%
Q1 24
48.5%
EPS (diluted)
MFA
MFA
PROP
PROP
Q4 25
$0.43
Q3 25
$0.35
$-0.44
Q2 25
$0.21
$0.18
Q1 25
$0.31
$-3.49
Q4 24
$-0.01
Q3 24
$0.37
$-0.68
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
MFA
MFA
PROP
PROP
Cash + ST InvestmentsLiquidity on hand
$213.2M
$10.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.8B
$101.8M
Total Assets
$13.0B
$939.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MFA
MFA
PROP
PROP
Q4 25
$213.2M
Q3 25
$305.2M
$10.6M
Q2 25
$275.7M
$10.7M
Q1 25
$253.7M
$15.0M
Q4 24
$338.9M
Q3 24
$305.6M
$40.1M
Q2 24
$289.4M
Q1 24
$306.3M
Total Debt
MFA
MFA
PROP
PROP
Q4 25
Q3 25
Q2 25
$387.0M
Q1 25
$377.0M
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
MFA
MFA
PROP
PROP
Q4 25
$1.8B
Q3 25
$1.8B
$101.8M
Q2 25
$1.8B
$94.2M
Q1 25
$1.8B
$34.0M
Q4 24
$1.8B
Q3 24
$1.9B
$61.3M
Q2 24
$1.9B
Q1 24
$1.9B
Total Assets
MFA
MFA
PROP
PROP
Q4 25
$13.0B
Q3 25
$12.1B
$939.8M
Q2 25
$11.7B
$858.5M
Q1 25
$11.5B
$775.4M
Q4 24
$11.4B
Q3 24
$11.2B
$107.2M
Q2 24
$11.1B
Q1 24
$10.9B
Debt / Equity
MFA
MFA
PROP
PROP
Q4 25
Q3 25
Q2 25
4.11×
Q1 25
11.07×
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
MFA
MFA
PROP
PROP
Operating Cash FlowLast quarter
$76.2M
$57.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
44.80×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MFA
MFA
PROP
PROP
Q4 25
$76.2M
Q3 25
$14.7M
$57.7M
Q2 25
$38.5M
$-7.2M
Q1 25
$-14.6M
$16.9M
Q4 24
$200.1M
Q3 24
$-11.3M
$2.8M
Q2 24
$46.5M
Q1 24
$53.5M
Cash Conversion
MFA
MFA
PROP
PROP
Q4 25
Q3 25
0.31×
44.80×
Q2 25
1.16×
-0.20×
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.

Revenue Breakdown by Segment

MFA
MFA

Segment breakdown not available.

PROP
PROP

Crude Oil Sales$64.9M84%
Natural Gas Sales$7.6M10%
Natural Gas Liquids Reserves$5.2M7%

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