New Mountain Finance/$NMFC

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About New Mountain Finance

New Mountain Finance Corp is a closed-end, non-diversified management investment company. It invests in equity interests such as preferred stock, common stock, warrants, or options received in connection with debt investments or may include direct investment in the equity of private companies. The company's investment objective is to generate current income and capital appreciation through sourcing and origination of debt securities at all levels of the capital structure, including first and second-lien debt, notes, bonds and mezzanine securities.
Ticker
$NMFC
Sector
Finance
Primary listing
NASDAQ
Employees
-
Headquarters
New York, United States
Website
www.newmountainfinance.com

NMFC Metrics

BasicAdvanced
$659M
-
-$0.48
0.63
$1.21
14.33%

Bulls say / Bears say

Q2 adjusted net investment income was $0.26 per share against a $0.25 distribution, and management expects coverage to continue. That supports a still-high cash yield of roughly 15% at the share price cited by the company. (New Mountain Finance, New Mountain Finance)
Credit indicators improved in Q2: non-accruals fell from 2.6% to 1.5% of fair value, about 88% of the portfolio was rated green, and NAV slipped only slightly to $10.89 per share. This suggests the portfolio is absorbing current pressure better than the share-price discount implies. (New Mountain Finance)
The balance sheet has been made more resilient through the $470 million portfolio sale, lower PIK exposure, share repurchases and longer-dated funding. Net debt-to-equity was 1.11 times at Q2-end, while the company had $668.5 million of available capacity and extended its main credit facility to July 2031. (New Mountain Finance, New Mountain Finance)
The dividend was cut from $0.32 to $0.25 per quarter as base rates and market spreads compressed and the portfolio became more senior. Q2 adjusted net investment income also fell to $0.26 per share from $0.32 a year earlier, leaving only a thin coverage margin. (New Mountain Finance, New Mountain Finance)
Credit risk has not disappeared despite the fall in non-accruals: management disclosed a write-down on non-accruing borrower Convey, while the yellow-risk category increased. NAV has also continued to edge lower, leaving room for further marks if software and technology exposures weaken. (New Mountain Finance, New Mountain Finance)
The origination and exit backdrop remains difficult: Q2 direct-lending volume was down about 55% from Q1, while NMFC originated $73 million against $105 million of sales and repayments. Management also said the timing of monetising equity positions remains uncertain, which could delay portfolio diversification and income improvement. (New Mountain Finance)
Data summarised monthly by Lightyear AI. Last updated on 26 Sept 2026.

NMFC News

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Forbes1 month ago

New Mountain Finance Q2 Earnings Call Highlights

MarketBeat2 months ago

New Mountain Finance Corporation Announces Financial Results for the Quarter Ended June 30, 2026

Business Wire2 months ago
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