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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and SONIDA SENIOR LIVING, INC. (SNDA). Click either name above to swap in a different company.

SONIDA SENIOR LIVING, INC. is the larger business by last-quarter revenue ($97.7M vs $55.5M, roughly 1.8× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs 6.2%). Over the past eight quarters, SONIDA SENIOR LIVING, INC.'s revenue compounded faster (20.3% 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.

Sonida Senior Living, Inc. is a leading owner, operator and investor in senior housing communities in the United States in terms of resident capacity. The company and its predecessors have provided senior housing since 1990. As of June 1, 2025, the company operated 96 senior housing communities in 20 states with an aggregate capacity of approximately 10,000+ residents, including 83 senior housing communities that the company owns and 13 communities that the company manages on behalf of third ...

MFA vs SNDA — Head-to-Head

Bigger by revenue
SNDA
SNDA
1.8× larger
SNDA
$97.7M
$55.5M
MFA
Growing faster (revenue YoY)
MFA
MFA
+3.0% gap
MFA
9.2%
6.2%
SNDA
Faster 2-yr revenue CAGR
SNDA
SNDA
Annualised
SNDA
20.3%
7.7%
MFA

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
MFA
MFA
SNDA
SNDA
Revenue
$55.5M
$97.7M
Net Profit
$-29.8M
Gross Margin
Operating Margin
97.9%
-30.8%
Net Margin
-30.5%
Revenue YoY
9.2%
6.2%
Net Profit YoY
-441.0%
EPS (diluted)
$0.43
$-1.73

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
SNDA
SNDA
Q4 25
$55.5M
$97.7M
Q3 25
$56.8M
$98.0M
Q2 25
$61.3M
$93.5M
Q1 25
$57.5M
$91.9M
Q4 24
$50.8M
$91.9M
Q3 24
$50.6M
$74.8M
Q2 24
$53.5M
$70.2M
Q1 24
$47.8M
$67.4M
Net Profit
MFA
MFA
SNDA
SNDA
Q4 25
$-29.8M
Q3 25
$48.1M
$-26.9M
Q2 25
$33.2M
$-1.6M
Q1 25
$41.2M
$-12.5M
Q4 24
$-5.5M
Q3 24
$48.2M
$-13.8M
Q2 24
$41.9M
$-9.8M
Q1 24
$23.2M
$27.0M
Operating Margin
MFA
MFA
SNDA
SNDA
Q4 25
97.9%
-30.8%
Q3 25
84.5%
-27.8%
Q2 25
54.5%
-2.0%
Q1 25
70.0%
21.9%
Q4 24
6.8%
-6.7%
Q3 24
98.2%
-19.0%
Q2 24
79.1%
-13.9%
Q1 24
50.7%
22.1%
Net Margin
MFA
MFA
SNDA
SNDA
Q4 25
-30.5%
Q3 25
84.7%
-27.4%
Q2 25
54.2%
-1.7%
Q1 25
71.6%
-13.6%
Q4 24
-6.0%
Q3 24
95.2%
-18.4%
Q2 24
78.4%
-14.0%
Q1 24
48.5%
40.1%
EPS (diluted)
MFA
MFA
SNDA
SNDA
Q4 25
$0.43
$-1.73
Q3 25
$0.35
$-1.56
Q2 25
$0.21
$-0.16
Q1 25
$0.31
$-0.77
Q4 24
$-0.01
$-0.86
Q3 24
$0.37
$-0.98
Q2 24
$0.32
$-0.86
Q1 24
$0.14
$2.16

Balance Sheet & Financial Strength

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

Metric
MFA
MFA
SNDA
SNDA
Cash + ST InvestmentsLiquidity on hand
$213.2M
$11.0M
Total DebtLower is stronger
$689.7M
Stockholders' EquityBook value
$1.8B
$-11.0K
Total Assets
$13.0B
$844.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MFA
MFA
SNDA
SNDA
Q4 25
$213.2M
$11.0M
Q3 25
$305.2M
$17.0M
Q2 25
$275.7M
$14.1M
Q1 25
$253.7M
$14.0M
Q4 24
$338.9M
$17.0M
Q3 24
$305.6M
$24.9M
Q2 24
$289.4M
$9.5M
Q1 24
$306.3M
$24.2M
Total Debt
MFA
MFA
SNDA
SNDA
Q4 25
$689.7M
Q3 25
$684.4M
Q2 25
$677.9M
Q1 25
$650.9M
Q4 24
$651.4M
Q3 24
$604.1M
Q2 24
$583.8M
Q1 24
$578.1M
Stockholders' Equity
MFA
MFA
SNDA
SNDA
Q4 25
$1.8B
$-11.0K
Q3 25
$1.8B
$29.8M
Q2 25
$1.8B
$56.7M
Q1 25
$1.8B
$58.8M
Q4 24
$1.8B
$71.8M
Q3 24
$1.9B
$77.5M
Q2 24
$1.9B
$-34.1M
Q1 24
$1.9B
$-41.4M
Total Assets
MFA
MFA
SNDA
SNDA
Q4 25
$13.0B
$844.8M
Q3 25
$12.1B
$854.8M
Q2 25
$11.7B
$849.8M
Q1 25
$11.5B
$824.5M
Q4 24
$11.4B
$841.9M
Q3 24
$11.2B
$796.2M
Q2 24
$11.1B
$652.2M
Q1 24
$10.9B
$636.3M
Debt / Equity
MFA
MFA
SNDA
SNDA
Q4 25
Q3 25
22.99×
Q2 25
11.96×
Q1 25
11.08×
Q4 24
9.07×
Q3 24
7.79×
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
SNDA
SNDA
Operating Cash FlowLast quarter
$76.2M
$-400.0K
Free Cash FlowOCF − Capex
$-9.3M
FCF MarginFCF / Revenue
-9.5%
Capex IntensityCapex / Revenue
9.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-8.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MFA
MFA
SNDA
SNDA
Q4 25
$76.2M
$-400.0K
Q3 25
$14.7M
$12.0M
Q2 25
$38.5M
$8.9M
Q1 25
$-14.6M
$3.8M
Q4 24
$200.1M
$-3.1M
Q3 24
$-11.3M
$3.0M
Q2 24
$46.5M
$2.5M
Q1 24
$53.5M
$-4.1M
Free Cash Flow
MFA
MFA
SNDA
SNDA
Q4 25
$-9.3M
Q3 25
$3.0M
Q2 25
$1.9M
Q1 25
$-4.5M
Q4 24
$-10.4M
Q3 24
$-5.1M
Q2 24
$-1.7M
Q1 24
$-9.9M
FCF Margin
MFA
MFA
SNDA
SNDA
Q4 25
-9.5%
Q3 25
3.0%
Q2 25
2.1%
Q1 25
-4.9%
Q4 24
-11.3%
Q3 24
-6.8%
Q2 24
-2.4%
Q1 24
-14.6%
Capex Intensity
MFA
MFA
SNDA
SNDA
Q4 25
9.1%
Q3 25
9.2%
Q2 25
7.5%
Q1 25
9.1%
Q4 24
7.9%
Q3 24
10.8%
Q2 24
5.9%
Q1 24
8.5%
Cash Conversion
MFA
MFA
SNDA
SNDA
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×
-0.15×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

MFA
MFA

Segment breakdown not available.

SNDA
SNDA

Health Care Resident Service$86.3M88%
Community Reimbursement Revenue$10.3M11%
Management Service$1.1M1%

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