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New Mountain Finance Corporation Announces Financial Results for the Quarter Ended September 30, 2025

NMFC
  • New Mountain Finance Corporation reported third quarter 2025 net investment income of $33.9 million, or $0.32 per weighted average share.
  • The company declared a fourth quarter 2025 distribution of $0.32 per share, payable on December 31, 2025, to holders of record as of December 17, 2025.
  • Net asset value per share declined to $12.06 as of September 30, 2025, down from $12.21 as of June 30, 2025.
  • Approximately 95% of the portfolio was rated green on the internal heatmap as of September 30, 2025.
  • The senior-oriented asset mix increased to 80% in Q3 2025, up from 75% in the prior year period.
  • The company utilized the full $50 million original stock repurchase plan \& established a new plan authorizing up to $100 million in share repurchases.
  • NMFC is exploring a secondary portfolio sale of up to $500 million to reduce PIK income, diversify the portfolio, \& enhance financial flexibility.
  • Total investment portfolio fair value was $2,957.1 million across 127 portfolio companies, with a weighted average yield to maturity at cost of approximately 10.4%.
  • The company originated $127.3 million of investments in Q3 2025, offset by $177.1 million in repayments.
  • Statutory debt-to-equity ratio stood at 1.26x as of September 30, 2025, or 1.23x net of available cash.
  • As of quarter-end, the company held $63.7 million in cash \& cash equivalents \& $1,588.9 million in statutory debt outstanding.
  • Management repurchased $27.6 million of shares during the third quarter of 2025.
  • The company repaid its 2022 Convertible Notes at maturity subsequent to the quarter-end.
  • First lien investments comprised 67.3% of the portfolio, while senior loan funds accounted for 13.1%.
  • The top industry sectors by fair value were Software (32.0%), Business Services (20.9%), \& Healthcare (16.8%).
  • New Mountain Finance Corporation will host an earnings conference call on November 4, 2025, at 10:00 am Eastern Time.