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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
MFA FINANCIAL, INC. is the larger business by last-quarter revenue ($55.5M vs $33.9M, roughly 1.6× Spok Holdings, Inc). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -0.1%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs -1.5%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
MFA vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $33.9M |
| Net Profit | — | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 97.9% | 11.6% |
| Net Margin | — | 8.7% |
| Revenue YoY | 9.2% | -0.1% |
| Net Profit YoY | — | -19.6% |
| EPS (diluted) | $0.43 | $0.13 |
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.
| Q4 25 | $55.5M | $33.9M | ||
| Q3 25 | $56.8M | $33.9M | ||
| Q2 25 | $61.3M | $35.7M | ||
| Q1 25 | $57.5M | $36.3M | ||
| Q4 24 | $50.8M | $33.9M | ||
| Q3 24 | $50.6M | $34.9M | ||
| Q2 24 | $53.5M | $34.0M | ||
| Q1 24 | $47.8M | $34.9M |
| Q4 25 | — | $2.9M | ||
| Q3 25 | $48.1M | $3.2M | ||
| Q2 25 | $33.2M | $4.6M | ||
| Q1 25 | $41.2M | $5.2M | ||
| Q4 24 | — | $3.6M | ||
| Q3 24 | $48.2M | $3.7M | ||
| Q2 24 | $41.9M | $3.4M | ||
| Q1 24 | $23.2M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 97.9% | 11.6% | ||
| Q3 25 | 84.5% | 12.9% | ||
| Q2 25 | 54.5% | 15.1% | ||
| Q1 25 | 70.0% | 16.6% | ||
| Q4 24 | 6.8% | 13.7% | ||
| Q3 24 | 98.2% | 14.2% | ||
| Q2 24 | 79.1% | 13.2% | ||
| Q1 24 | 50.7% | 14.0% |
| Q4 25 | — | 8.7% | ||
| Q3 25 | 84.7% | 9.5% | ||
| Q2 25 | 54.2% | 12.8% | ||
| Q1 25 | 71.6% | 14.3% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | 95.2% | 10.5% | ||
| Q2 24 | 78.4% | 10.1% | ||
| Q1 24 | 48.5% | 12.1% |
| Q4 25 | $0.43 | $0.13 | ||
| Q3 25 | $0.35 | $0.15 | ||
| Q2 25 | $0.21 | $0.22 | ||
| Q1 25 | $0.31 | $0.25 | ||
| Q4 24 | $-0.01 | $0.17 | ||
| Q3 24 | $0.37 | $0.18 | ||
| Q2 24 | $0.32 | $0.17 | ||
| Q1 24 | $0.14 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $146.4M |
| Total Assets | $13.0B | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $213.2M | $25.3M | ||
| Q3 25 | $305.2M | $21.4M | ||
| Q2 25 | $275.7M | $20.2M | ||
| Q1 25 | $253.7M | $19.9M | ||
| Q4 24 | $338.9M | $29.1M | ||
| Q3 24 | $305.6M | $27.8M | ||
| Q2 24 | $289.4M | $23.9M | ||
| Q1 24 | $306.3M | $23.3M |
| Q4 25 | $1.8B | $146.4M | ||
| Q3 25 | $1.8B | $148.7M | ||
| Q2 25 | $1.8B | $150.9M | ||
| Q1 25 | $1.8B | $151.7M | ||
| Q4 24 | $1.8B | $154.7M | ||
| Q3 24 | $1.9B | $156.3M | ||
| Q2 24 | $1.9B | $158.2M | ||
| Q1 24 | $1.9B | $160.2M |
| Q4 25 | $13.0B | $206.1M | ||
| Q3 25 | $12.1B | $209.7M | ||
| Q2 25 | $11.7B | $208.7M | ||
| Q1 25 | $11.5B | $204.5M | ||
| Q4 24 | $11.4B | $217.1M | ||
| Q3 24 | $11.2B | $216.8M | ||
| Q2 24 | $11.1B | $216.4M | ||
| Q1 24 | $10.9B | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | — | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $11.5M | ||
| Q3 25 | $14.7M | $8.1M | ||
| Q2 25 | $38.5M | $7.0M | ||
| Q1 25 | $-14.6M | $2.3M | ||
| Q4 24 | $200.1M | $8.4M | ||
| Q3 24 | $-11.3M | $11.1M | ||
| Q2 24 | $46.5M | $7.4M | ||
| Q1 24 | $53.5M | $2.0M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $6.8M | ||
| Q1 24 | — | $1.1M |
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | 0.31× | 2.54× | ||
| Q2 25 | 1.16× | 1.55× | ||
| Q1 25 | -0.35× | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | -0.23× | 3.03× | ||
| Q2 24 | 1.11× | 2.17× | ||
| Q1 24 | 2.30× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MFA
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
