MidCap Financial Investment Corporation (MFIC) — Dividend Yield, NAV & Valuation Analysis
MFIC · NASDAQ
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Overview
MidCap Financial Investment Corporation is an externally managed BDC advised by MidCap Financial Services, focused on senior secured first lien and mezzanine debt to U.S. middle-market companies. MFIC targets borrowers with EBITDA between $5 million and $50 million with an emphasis on floating-rate loan structures. The portfolio spans healthcare, business services, and technology sectors with an asset-based focus on senior secured loans.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 6.8% |
| 3-Year Total Return | 18.2% |
| 5-Year Total Return | 29.8% |
| Expense Ratio | 9.3% |
| Leverage Ratio | 1.22x |
| Portfolio Companies | 115 |
| Total Assets | $0.8B |
Discount / Premium to NAV
| Stock Price | $9.9 |
| NAV per Share | $15 |
| Premium / (Discount) to NAV | -34% |
| Implied per-share NAV gap | $5.1 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of MidCap Financial Investment Corporation's investment portfolio. A negative reading (a discount) means the market is pricing MFIC below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. MidCap Financial Investment Corporation currently trades at a -34% discount to NAV.
Investment Strategy
MidCap Financial Investment Corporation focuses on senior secured loans, mezzanine debt, equity co-investments in the healthcare, business services, technology, consumer sectors. The company targets lower middle-market companies and maintains a portfolio of 115 investments totaling $0.8B in assets.
Management
CEO: Robert A. Greifeld | Employees: 35
Suitability
MFIC is suitable for income-focused investors seeking quarterly dividend income with a 12.6% yield. The BDC's focus on senior secured loans provides portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.