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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) and VINCE HOLDING CORP. (VNCE). Click either name above to swap in a different company.

VINCE HOLDING CORP. is the larger business by last-quarter revenue ($85.1M vs $55.5M, roughly 1.5× 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, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% CAGR vs 6.3%).

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.

VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.

MFA vs VNCE — Head-to-Head

Bigger by revenue
VNCE
VNCE
1.5× larger
VNCE
$85.1M
$55.5M
MFA
Growing faster (revenue YoY)
MFA
MFA
+3.0% gap
MFA
9.2%
6.2%
VNCE
Faster 2-yr revenue CAGR
MFA
MFA
Annualised
MFA
7.7%
6.3%
VNCE

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
MFA
MFA
VNCE
VNCE
Revenue
$55.5M
$85.1M
Net Profit
$2.7M
Gross Margin
49.2%
Operating Margin
97.9%
6.4%
Net Margin
3.2%
Revenue YoY
9.2%
6.2%
Net Profit YoY
-37.3%
EPS (diluted)
$0.43
$0.21

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
VNCE
VNCE
Q4 25
$55.5M
$85.1M
Q3 25
$56.8M
$73.2M
Q2 25
$61.3M
$57.9M
Q1 25
$57.5M
$80.0M
Q4 24
$50.8M
$80.2M
Q3 24
$50.6M
$74.2M
Q2 24
$53.5M
$59.2M
Q1 24
$47.8M
$75.3M
Net Profit
MFA
MFA
VNCE
VNCE
Q4 25
$2.7M
Q3 25
$48.1M
$12.1M
Q2 25
$33.2M
$-4.8M
Q1 25
$41.2M
$-28.3M
Q4 24
$4.3M
Q3 24
$48.2M
$569.0K
Q2 24
$41.9M
$4.4M
Q1 24
$23.2M
$-4.7M
Gross Margin
MFA
MFA
VNCE
VNCE
Q4 25
49.2%
Q3 25
50.4%
Q2 25
50.3%
Q1 25
50.1%
Q4 24
50.0%
Q3 24
47.4%
Q2 24
50.6%
Q1 24
45.4%
Operating Margin
MFA
MFA
VNCE
VNCE
Q4 25
97.9%
6.4%
Q3 25
84.5%
15.2%
Q2 25
54.5%
-7.7%
Q1 25
70.0%
-37.1%
Q4 24
6.8%
7.2%
Q3 24
98.2%
1.5%
Q2 24
79.1%
9.5%
Q1 24
50.7%
-2.2%
Net Margin
MFA
MFA
VNCE
VNCE
Q4 25
3.2%
Q3 25
84.7%
16.5%
Q2 25
54.2%
-8.3%
Q1 25
71.6%
-35.5%
Q4 24
5.4%
Q3 24
95.2%
0.8%
Q2 24
78.4%
7.4%
Q1 24
48.5%
-6.2%
EPS (diluted)
MFA
MFA
VNCE
VNCE
Q4 25
$0.43
$0.21
Q3 25
$0.35
$0.93
Q2 25
$0.21
$-0.37
Q1 25
$0.31
$-2.25
Q4 24
$-0.01
$0.34
Q3 24
$0.37
$0.05
Q2 24
$0.32
$0.35
Q1 24
$0.14
$-0.37

Balance Sheet & Financial Strength

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

Metric
MFA
MFA
VNCE
VNCE
Cash + ST InvestmentsLiquidity on hand
$213.2M
$1.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.8B
$53.4M
Total Assets
$13.0B
$246.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MFA
MFA
VNCE
VNCE
Q4 25
$213.2M
$1.1M
Q3 25
$305.2M
$777.0K
Q2 25
$275.7M
$2.6M
Q1 25
$253.7M
$607.0K
Q4 24
$338.9M
$892.0K
Q3 24
$305.6M
$711.0K
Q2 24
$289.4M
$739.0K
Q1 24
$306.3M
$357.0K
Stockholders' Equity
MFA
MFA
VNCE
VNCE
Q4 25
$1.8B
$53.4M
Q3 25
$1.8B
$49.3M
Q2 25
$1.8B
$37.2M
Q1 25
$1.8B
$41.8M
Q4 24
$1.8B
$57.1M
Q3 24
$1.9B
$52.4M
Q2 24
$1.9B
$51.7M
Q1 24
$1.9B
$47.2M
Total Assets
MFA
MFA
VNCE
VNCE
Q4 25
$13.0B
$246.0M
Q3 25
$12.1B
$239.0M
Q2 25
$11.7B
$218.0M
Q1 25
$11.5B
$222.7M
Q4 24
$11.4B
$254.7M
Q3 24
$11.2B
$253.6M
Q2 24
$11.1B
$223.1M
Q1 24
$10.9B
$225.1M

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
VNCE
VNCE
Operating Cash FlowLast quarter
$76.2M
$-5.1M
Free Cash FlowOCF − Capex
$-5.7M
FCF MarginFCF / Revenue
-6.7%
Capex IntensityCapex / Revenue
0.7%
Cash ConversionOCF / Net Profit
-1.86×
TTM Free Cash FlowTrailing 4 quarters
$4.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MFA
MFA
VNCE
VNCE
Q4 25
$76.2M
$-5.1M
Q3 25
$14.7M
$4.2M
Q2 25
$38.5M
$-11.8M
Q1 25
$-14.6M
$22.7M
Q4 24
$200.1M
$6.4M
Q3 24
$-11.3M
$-3.2M
Q2 24
$46.5M
$-3.9M
Q1 24
$53.5M
$14.8M
Free Cash Flow
MFA
MFA
VNCE
VNCE
Q4 25
$-5.7M
Q3 25
$2.1M
Q2 25
$-13.2M
Q1 25
$21.2M
Q4 24
$5.1M
Q3 24
$-3.9M
Q2 24
$-4.6M
Q1 24
$14.2M
FCF Margin
MFA
MFA
VNCE
VNCE
Q4 25
-6.7%
Q3 25
2.9%
Q2 25
-22.9%
Q1 25
26.5%
Q4 24
6.4%
Q3 24
-5.2%
Q2 24
-7.8%
Q1 24
18.9%
Capex Intensity
MFA
MFA
VNCE
VNCE
Q4 25
0.7%
Q3 25
2.9%
Q2 25
2.5%
Q1 25
1.9%
Q4 24
1.6%
Q3 24
0.9%
Q2 24
1.3%
Q1 24
0.7%
Cash Conversion
MFA
MFA
VNCE
VNCE
Q4 25
-1.86×
Q3 25
0.31×
0.35×
Q2 25
1.16×
Q1 25
-0.35×
Q4 24
1.48×
Q3 24
-0.23×
-5.61×
Q2 24
1.11×
-0.89×
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.

VNCE
VNCE

Vince Wholesale$52.0M61%
Vince Direct To Consumer$33.1M39%

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