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

RIGEL PHARMACEUTICALS INC is the larger business by last-quarter revenue ($69.8M vs $55.5M, roughly 1.3× MFA FINANCIAL, INC.). On growth, RIGEL PHARMACEUTICALS INC posted the faster year-over-year revenue change (21.2% vs 9.2%). Over the past eight quarters, RIGEL PHARMACEUTICALS INC's revenue compounded faster (53.7% 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.

Rigel Pharmaceuticals Inc is a clinical-stage biotechnology company focused on developing and commercializing targeted small molecule therapies for autoimmune, inflammatory, and hematologic diseases. Its approved flagship product treats adult immune thrombocytopenia, with primary operations and core markets in the United States, addressing unmet medical needs for underserved patient groups.

MFA vs RIGL — Head-to-Head

Bigger by revenue
RIGL
RIGL
1.3× larger
RIGL
$69.8M
$55.5M
MFA
Growing faster (revenue YoY)
RIGL
RIGL
+12.0% gap
RIGL
21.2%
9.2%
MFA
Faster 2-yr revenue CAGR
RIGL
RIGL
Annualised
RIGL
53.7%
7.7%
MFA

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
MFA
MFA
RIGL
RIGL
Revenue
$55.5M
$69.8M
Net Profit
$268.1M
Gross Margin
91.5%
Operating Margin
97.9%
33.2%
Net Margin
384.0%
Revenue YoY
9.2%
21.2%
Net Profit YoY
1769.2%
EPS (diluted)
$0.43
$14.11

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
RIGL
RIGL
Q4 25
$55.5M
$69.8M
Q3 25
$56.8M
$69.5M
Q2 25
$61.3M
$101.7M
Q1 25
$57.5M
$53.3M
Q4 24
$50.8M
$57.6M
Q3 24
$50.6M
$55.3M
Q2 24
$53.5M
$36.8M
Q1 24
$47.8M
$29.5M
Net Profit
MFA
MFA
RIGL
RIGL
Q4 25
$268.1M
Q3 25
$48.1M
$27.9M
Q2 25
$33.2M
$59.6M
Q1 25
$41.2M
$11.4M
Q4 24
$14.3M
Q3 24
$48.2M
$12.4M
Q2 24
$41.9M
$-1.0M
Q1 24
$23.2M
$-8.2M
Gross Margin
MFA
MFA
RIGL
RIGL
Q4 25
91.5%
Q3 25
93.2%
Q2 25
95.6%
Q1 25
91.7%
Q4 24
89.9%
Q3 24
85.5%
Q2 24
92.4%
Q1 24
93.1%
Operating Margin
MFA
MFA
RIGL
RIGL
Q4 25
97.9%
33.2%
Q3 25
84.5%
40.9%
Q2 25
54.5%
60.1%
Q1 25
70.0%
23.9%
Q4 24
6.8%
28.9%
Q3 24
98.2%
25.4%
Q2 24
79.1%
1.2%
Q1 24
50.7%
-23.6%
Net Margin
MFA
MFA
RIGL
RIGL
Q4 25
384.0%
Q3 25
84.7%
40.2%
Q2 25
54.2%
58.6%
Q1 25
71.6%
21.5%
Q4 24
24.9%
Q3 24
95.2%
22.5%
Q2 24
78.4%
-2.8%
Q1 24
48.5%
-27.9%
EPS (diluted)
MFA
MFA
RIGL
RIGL
Q4 25
$0.43
$14.11
Q3 25
$0.35
$1.46
Q2 25
$0.21
$3.28
Q1 25
$0.31
$0.63
Q4 24
$-0.01
$0.82
Q3 24
$0.37
$0.70
Q2 24
$0.32
$-0.06
Q1 24
$0.14
$-0.47

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
MFA
MFA
RIGL
RIGL
Cash + ST InvestmentsLiquidity on hand
$213.2M
$155.0M
Total DebtLower is stronger
$52.5M
Stockholders' EquityBook value
$1.8B
$391.5M
Total Assets
$13.0B
$513.6M
Debt / EquityLower = less leverage
0.13×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MFA
MFA
RIGL
RIGL
Q4 25
$213.2M
$155.0M
Q3 25
$305.2M
$137.1M
Q2 25
$275.7M
$108.4M
Q1 25
$253.7M
$77.1M
Q4 24
$338.9M
$77.3M
Q3 24
$305.6M
$61.1M
Q2 24
$289.4M
$49.1M
Q1 24
$306.3M
$49.5M
Total Debt
MFA
MFA
RIGL
RIGL
Q4 25
$52.5M
Q3 25
$60.0M
Q2 25
$60.0M
Q1 25
$60.0M
Q4 24
$60.0M
Q3 24
$60.0M
Q2 24
$60.0M
Q1 24
$60.0M
Stockholders' Equity
MFA
MFA
RIGL
RIGL
Q4 25
$1.8B
$391.5M
Q3 25
$1.8B
$117.6M
Q2 25
$1.8B
$81.9M
Q1 25
$1.8B
$18.6M
Q4 24
$1.8B
$3.3M
Q3 24
$1.9B
$-14.6M
Q2 24
$1.9B
$-29.9M
Q1 24
$1.9B
$-31.7M
Total Assets
MFA
MFA
RIGL
RIGL
Q4 25
$13.0B
$513.6M
Q3 25
$12.1B
$242.5M
Q2 25
$11.7B
$206.7M
Q1 25
$11.5B
$176.0M
Q4 24
$11.4B
$164.0M
Q3 24
$11.2B
$139.4M
Q2 24
$11.1B
$128.4M
Q1 24
$10.9B
$126.5M
Debt / Equity
MFA
MFA
RIGL
RIGL
Q4 25
0.13×
Q3 25
0.51×
Q2 25
0.73×
Q1 25
3.23×
Q4 24
18.25×
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
RIGL
RIGL
Operating Cash FlowLast quarter
$76.2M
$22.0M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.08×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MFA
MFA
RIGL
RIGL
Q4 25
$76.2M
$22.0M
Q3 25
$14.7M
$24.0M
Q2 25
$38.5M
$30.5M
Q1 25
$-14.6M
$-893.0K
Q4 24
$200.1M
$14.5M
Q3 24
$-11.3M
$21.7M
Q2 24
$46.5M
$302.0K
Q1 24
$53.5M
$-5.0M
Cash Conversion
MFA
MFA
RIGL
RIGL
Q4 25
0.08×
Q3 25
0.31×
0.86×
Q2 25
1.16×
0.51×
Q1 25
-0.35×
-0.08×
Q4 24
1.01×
Q3 24
-0.23×
1.75×
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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