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EarningsQ2 2026 Earnings Report
NMFC Q2 2026 EPS Results
Actual EPS$0.26
Consensus EPS$0.26
Beat/MissMissed by -<$0.01
One Year Ago EPS$0.32
NMFC Q2 2026 Revenue Results
Actual Revenue$16.49M
Expected Revenue$62.78M
Beat/MissMissed by -$46.29M
YoY Revenue Growth-82.98%
Earnings Announcement Details
QuarterQ2 2026
Date08/03/2026
TimeAfter Close
Conference CallMonday, August 3, 2026
NMFC Upcoming Earnings
New Mountain Finance's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
NMFC Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a balanced picture: management highlighted coverage of the dividend, improved non-accruals, active buybacks at deep discounts, strong liquidity and deliberate liability management, and a high implied dividend yield. Offsetting these positives are a notable QoQ decline in total investment income (-11%), muted M&A and origination activity (industry volume down ~55% QoQ), PIK exposure (13% of investment income), specific write-downs (Convey) and remaining portfolio concentration. Management expressed optimism about portfolio monetizations and NAV upside, but material near-term execution and market risks remain.Company Guidance
Dividend Coverage and Stability
Adjusted net investment income of $0.26 per share in Q2 covered the $0.25 per share dividend; Board declared a $0.25 dividend for Q3 and management expects NII to continue covering the dividend.
NAV Stabilization
Net asset value per share of $10.89, a modest decline of $0.03 (30 basis points) sequentially, with management noting book value stabilization and potential upside if certain loans move back toward par.
Improved Credit Metrics — Non-Accruals
Non-accruals at fair value improved meaningfully from 2.6% in Q1 to 1.5% in Q2, signaling better credit performance across the portfolio.
Active Share Repurchases at Deep Discounts
Repurchased approximately $9 million of stock during the quarter at about $8 per share, roughly a 27% discount to book value; year-to-date repurchases of approximately $66 million with ~$80 million remaining capacity.
Strong Shareholder Alignment
New Mountain ownership increased ~100 basis points sequentially and ~400 basis points year-over-year to approximately 18% of shares outstanding as of June 30, reflecting increased insider alignment.
Attractive Dividend Yield
Dividend yield implied at ~15% based on Friday's closing stock price; management positions the dividend as sustainable given anticipated earnings power of the portfolio.
Portfolio Quality and Risk Rating
88% of the portfolio carries a green risk rating; investments generating noncash income marked at a weighted average fair value of ~95% of par, and 89% of that income is from green-rated names.
Liquidity, Leverage and Liability Management
Total assets $2.4B, liabilities $1.4B, NAV $1.0B (NAV/share $10.89); net debt-to-equity 1.11x (below midpoint of 1.0–1.25x target). More than $2B total borrowing capacity including ~$830M available under facilities; closed a $150M private placement and extended corporate revolver maturity to 2031; ~60% of outstanding debt maturing 2029 or later.
Floating Rate Positioning
89% of the loan portfolio is floating-rate and 74% of liabilities are floating-rate, with management increasing floating liabilities to reduce asset-liability mismatch risk.
Disciplined Origination and Secondary Purchases
Originations of $73M in Q2 offset by $105M of sales/repayments leaving the company effectively fully invested; yields on new investments exceeded yields on repayments, driven in part by discounted secondary purchases.
NMFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed