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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and Townsquare Media, Inc. (TSQ). Click either name above to swap in a different company.

Townsquare Media, Inc. is the larger business by last-quarter revenue ($106.5M vs $55.5M, roughly 1.9× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -9.6%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs 3.4%).

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.

Townsquare Media, Inc. is an American radio network and media company based in Purchase, New York. The company started in radio and expanded into digital media toward the end of the 2000s, starting with the acquisition of the MOG Music Network. As of June 2024, Townsquare was the third-largest AM–FM operator in the country, owning 349 radio stations in 74 markets.

MFA vs TSQ — Head-to-Head

Bigger by revenue
TSQ
TSQ
1.9× larger
TSQ
$106.5M
$55.5M
MFA
Growing faster (revenue YoY)
MFA
MFA
+18.8% gap
MFA
9.2%
-9.6%
TSQ
Faster 2-yr revenue CAGR
MFA
MFA
Annualised
MFA
7.7%
3.4%
TSQ

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
MFA
MFA
TSQ
TSQ
Revenue
$55.5M
$106.5M
Net Profit
$-5.2M
Gross Margin
24.1%
Operating Margin
97.9%
9.5%
Net Margin
-4.9%
Revenue YoY
9.2%
-9.6%
Net Profit YoY
-121.2%
EPS (diluted)
$0.43

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
TSQ
TSQ
Q4 25
$55.5M
$106.5M
Q3 25
$56.8M
$106.8M
Q2 25
$61.3M
$115.4M
Q1 25
$57.5M
$98.7M
Q4 24
$50.8M
$117.8M
Q3 24
$50.6M
$115.3M
Q2 24
$53.5M
$118.2M
Q1 24
$47.8M
$99.6M
Net Profit
MFA
MFA
TSQ
TSQ
Q4 25
$-5.2M
Q3 25
$48.1M
$-5.9M
Q2 25
$33.2M
$1.6M
Q1 25
$41.2M
$-2.0M
Q4 24
$24.6M
Q3 24
$48.2M
$10.8M
Q2 24
$41.9M
$-49.2M
Q1 24
$23.2M
$1.1M
Gross Margin
MFA
MFA
TSQ
TSQ
Q4 25
24.1%
Q3 25
26.2%
Q2 25
28.3%
Q1 25
23.2%
Q4 24
31.6%
Q3 24
27.3%
Q2 24
27.7%
Q1 24
22.8%
Operating Margin
MFA
MFA
TSQ
TSQ
Q4 25
97.9%
9.5%
Q3 25
84.5%
5.6%
Q2 25
54.5%
18.2%
Q1 25
70.0%
7.2%
Q4 24
6.8%
18.1%
Q3 24
98.2%
13.1%
Q2 24
79.1%
-18.1%
Q1 24
50.7%
6.7%
Net Margin
MFA
MFA
TSQ
TSQ
Q4 25
-4.9%
Q3 25
84.7%
-5.5%
Q2 25
54.2%
1.4%
Q1 25
71.6%
-2.0%
Q4 24
20.8%
Q3 24
95.2%
9.4%
Q2 24
78.4%
-41.7%
Q1 24
48.5%
1.1%
EPS (diluted)
MFA
MFA
TSQ
TSQ
Q4 25
$0.43
Q3 25
$0.35
$-0.36
Q2 25
$0.21
$0.09
Q1 25
$0.31
$-0.12
Q4 24
$-0.01
$1.76
Q3 24
$0.37
$0.63
Q2 24
$0.32
$-3.26
Q1 24
$0.14
$0.06

Balance Sheet & Financial Strength

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

Metric
MFA
MFA
TSQ
TSQ
Cash + ST InvestmentsLiquidity on hand
$213.2M
$4.8M
Total DebtLower is stronger
$433.0M
Stockholders' EquityBook value
$1.8B
$-41.0M
Total Assets
$13.0B
$528.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MFA
MFA
TSQ
TSQ
Q4 25
$213.2M
$4.8M
Q3 25
$305.2M
$3.2M
Q2 25
$275.7M
$3.2M
Q1 25
$253.7M
$5.5M
Q4 24
$338.9M
$33.0M
Q3 24
$305.6M
$21.8M
Q2 24
$289.4M
$28.5M
Q1 24
$306.3M
$56.6M
Total Debt
MFA
MFA
TSQ
TSQ
Q4 25
$433.0M
Q3 25
$437.6M
Q2 25
$439.7M
Q1 25
$448.4M
Q4 24
$465.8M
Q3 24
$476.7M
Q2 24
$487.1M
Q1 24
$500.1M
Stockholders' Equity
MFA
MFA
TSQ
TSQ
Q4 25
$1.8B
$-41.0M
Q3 25
$1.8B
$-34.0M
Q2 25
$1.8B
$-27.1M
Q1 25
$1.8B
$-26.8M
Q4 24
$1.8B
$-28.4M
Q3 24
$1.9B
$-52.5M
Q2 24
$1.9B
$-64.1M
Q1 24
$1.9B
$1.8M
Total Assets
MFA
MFA
TSQ
TSQ
Q4 25
$13.0B
$528.6M
Q3 25
$12.1B
$539.2M
Q2 25
$11.7B
$545.7M
Q1 25
$11.5B
$544.5M
Q4 24
$11.4B
$580.4M
Q3 24
$11.2B
$565.4M
Q2 24
$11.1B
$579.6M
Q1 24
$10.9B
$636.7M
Debt / Equity
MFA
MFA
TSQ
TSQ
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
271.80×

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
TSQ
TSQ
Operating Cash FlowLast quarter
$76.2M
$12.6M
Free Cash FlowOCF − Capex
$9.2M
FCF MarginFCF / Revenue
8.6%
Capex IntensityCapex / Revenue
3.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$15.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MFA
MFA
TSQ
TSQ
Q4 25
$76.2M
$12.6M
Q3 25
$14.7M
$7.9M
Q2 25
$38.5M
$10.2M
Q1 25
$-14.6M
$-66.0K
Q4 24
$200.1M
$28.2M
Q3 24
$-11.3M
$9.9M
Q2 24
$46.5M
$9.0M
Q1 24
$53.5M
$1.7M
Free Cash Flow
MFA
MFA
TSQ
TSQ
Q4 25
$9.2M
Q3 25
$4.3M
Q2 25
$6.4M
Q1 25
$-4.5M
Q4 24
$24.5M
Q3 24
$4.8M
Q2 24
$4.8M
Q1 24
$-2.8M
FCF Margin
MFA
MFA
TSQ
TSQ
Q4 25
8.6%
Q3 25
4.1%
Q2 25
5.5%
Q1 25
-4.6%
Q4 24
20.8%
Q3 24
4.1%
Q2 24
4.0%
Q1 24
-2.8%
Capex Intensity
MFA
MFA
TSQ
TSQ
Q4 25
3.2%
Q3 25
3.3%
Q2 25
3.3%
Q1 25
4.5%
Q4 24
3.1%
Q3 24
4.4%
Q2 24
3.6%
Q1 24
4.4%
Cash Conversion
MFA
MFA
TSQ
TSQ
Q4 25
Q3 25
0.31×
Q2 25
1.16×
6.51×
Q1 25
-0.35×
Q4 24
1.15×
Q3 24
-0.23×
0.91×
Q2 24
1.11×
Q1 24
2.30×
1.47×

Financial Flow Comparison

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

Revenue Breakdown by Segment

MFA
MFA

Segment breakdown not available.

TSQ
TSQ

Broadcast Advertising Segment$46.4M44%
Digital Advertising Segment$41.7M39%
Subscription Digital Marketing Solutions Segment$18.4M17%

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