Earnings slid into a loss. Loss per share this year after a profit last year.
New Mountain Finance made a loss per share in its latest year after a profit the year before.
Valuation signals disagree. Cheaper than 95% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, New Mountain Finance looks cheaper than 95% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Share count shrinking. Shares outstanding down 6.4% from December 2022 to August 2026.
New Mountain Finance had 6.4% fewer shares at August 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $17M profit in the quarter to June 2026.
New Mountain Finance reported a net loss over the last twelve months, but its most recent quarter was profitable ($17M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-7.3%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.54Sector median: 0.0571 · MAD: 0.0371
EBITDA yieldUnavailable
Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0689 · MAD: 0.0428
Free cash flow yield99.8%
Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingOutlier capped at sector 5th/95th percentile20% base weight · Z-score 9.32Sector median: 0.0613 · MAD: 0.0605
Revenue and earnings-per-share growth over one year, and revenue growth over three years.
Earnings per share growthUnavailable
Earnings per share turned from a profit to a loss33% base weight · Z-score -2.12Sector median: 0.0999 · MAD: 0.2773
3-year revenue growth-45.0%
Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -4.39Sector median: 0.0999 · MAD: 0.0858
Revenue growth-88.0%
Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.87Sector median: 0.0742 · MAD: 0.1477
Why it changed since the Oct 27, 2026 close: Safety percentile 37 → 36
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about New Mountain Finance
Is New Mountain Finance getting weaker?
Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 37/100 since Oct 28, 2026.
How is New Mountain Finance valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 87/100 against 432 financial services peers.Free cash flow yield 99.8% vs a peer median of 6.1% (stronger than 95% of peers).Free cash flow yield 99.8% vs peers 6.1% (stronger than 95% of peers).Earnings yield -7.3% vs a peer median of 5.7% (weaker than 100% of peers).Earnings yield -7.3% vs peers 5.7% (weaker than 100% of peers).
Is New Mountain Finance growing?
More slowly than most of its peers. Growth scores 3/100 against 432 financial services peers.3-year revenue growth -45.0% vs a peer median of 10.0% (weaker than 100% of peers).3-year revenue growth -45.0% vs peers 10.0% (weaker than 100% of peers).
How profitable is New Mountain Finance?
Less profitable than most of its peers. Profitability scores 22/100 against 432 financial services peers.Return on assets -2.0% vs a peer median of 2.6% (weaker than 93% of peers).Return on assets -2.0% vs peers 2.6% (weaker than 93% of peers).
How risky is New Mountain Finance?
Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings.Debt / equity 1.31× vs a peer median of 0.57× (weaker than 67% of peers).Debt / equity 1.31× vs peers 0.57× (weaker than 67% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 3, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Net income (12 months)
−57.9M USD
−48.4M USD
−16.4%
Debt
1.3B USD
1.3B USD
+1.5%
Cash
51.1M USD
64.8M USD
+26.7%
Shares outstanding
94.5M
94.5M
0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Asset Management · 43 companies
Valuations in Asset Management are near the top of their range since 2016.
95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.
2016Shaded: most expensive fifth of its range2026
New Mountain Finance looks cheaper than most of its peers on our valuation measures, while the Asset Management industry as a whole is valued high by its own standards since 2016. Both can be true at once.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Return on assets (ROA)
6.1%
2.2%
4.3%
3.5%
0.6%
▼ 2.9 pts
Return on equity (ROE)
15.2%
5.7%
10.3%
8.4%
1.4%
▼ 7.0 pts
Debt to equity
1.44×
1.51×
1.35×
1.36×
1.41×
▲ 4.2%
NMFC price history
Price history is added with the daily price update and will appear after the next one.