New Mountain Finance Corporation (NMFC) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

NMFC carries an RQD Score of 45 / D, labeled "Roarable Sell — Underperform / Distribution Warning." The five pillars are: Fundamental Cash Engine at 12 / 20 (ROIC 1.4%; FCF yield 0%); Whale 13F Flow at 8 / 20 (institutional accumulation and options positioning); Insider Conviction at 6 / 20 (SEC Form 4 and Congressional PTR cluster flow); Macro Regime Fit at 6 / 20 (Beta 1.0; sector sensitivity); and Forensic Balance Sheet at 13 / 20 (Altman Z 2.5; Piotroski F 4/9; Debt/Equity 0.5).

For a prospective investor, the weakest pillars are Insider Conviction and Macro Regime Fit, each at 6 of 20, followed by Whale 13F Flow at 8 of 20. The strongest pillar is Forensic Balance Sheet at 13 of 20, with the Fundamental Cash Engine at 12 of 20 close behind, though its ROIC of 1.4% and FCF yield of 0% weigh against it. Per the market data, the stock trades at a P/E (TTM) of 40.3 against EPS (TTM) of 0.17, a valuation the RQD rating frames as a tradeoff: the price implies expectations that the reported earnings base does not clearly support. The verdict label signals underperformance and distribution risk; an investor evaluating the stock today would weigh these pillar scores against the upside case described in the news section rather than treat any single pillar as decisive.

Is a NASDAQ-listed issuer in the Financials sector, Finance/Investors Services industry..7B. — describes its products, customers, or revenue model beyond the sector and industry classification.

Reported net income declined from $135.3M (FY 2023) to $113.4M (FY 2024) and $16.5M (FY 2025). Per the market data, gross, operating, and net margins are each 0%, and ROIC is 1.4%. Per the Forensic Balance Sheet pillar of the RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. — contains a debt figure for any period.

• 🐂 Primary Bull Case: Forensic Balance Sheet scores 13 of 20 with Altman Z 2.5 and Debt/Equity 0.5, and a repurchase program is reported as extended to $150 Million. With Fundamental Cash Engine at 12/20 (ROIC 1.4%, FCF yield —) and Institutional Whale Flow at 8/20, sustained execution supports upside toward the top of the $6.48 – $9.84 52-week range.
• 🐻 Primary Bear Case: ROIC of 1.4%, FCF yield of 0%, and a 40.3 trailing P/E on 0.17 EPS leave the RQD rating in a Sell/Underperform verdict with Insider and Macro pillars at 6 of 20. Investors must weigh 40.3x trailing P/E against — operating margins and a 1.00 macro beta if sector demand softens.

— identifies upstream suppliers, downstream customers, or sector correlation partners. A prospective investor should note that the source data provides no basis for mapping second-order ripples through suppliers or customers.

• Key Question #1: Why is debt reported as N/A for all periods, and what is the actual leverage position behind the 0.5 Debt/Equity figure?
• Key Question #2: What drives the decline in net income from $135.3M to $16.5M across the three reported years?
• Key Question #3: Does the repurchase program extension to $150 Million reflect a view on intrinsic value, and how is it being funded?