New Mountain Finance Corp. (OQ:NMFC)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1633 Broadway 787 SEVENTH AVENUE, 48TH FLOOR NEW YORK NY 10019 |
| Tel: | 1-212-2203393 |
| Website: | www.newmountainfinance.com |
| IR: | See website |
| Key People | ||
| Steven B. Klinsky Chairman of the Board | John R. Kline President, Chief Executive Officer, Director | Robert A. Hamwee Vice Chairman of the Board |
| Kris Corbett Chief Financial Officer, Treasurer | Laura C. Holson Chief Operating Officer | Adam B. Weinstein Executive Vice President, Chief Administrative Officer, Director | Joseph Hartswell Chief Compliance Officer, Company Secretary |
| Business Overview |
| New Mountain Finance Corporation is a business development company focused on providing direct lending solutions to United States middle market companies backed by private equity sponsors. Its investment objective is to generate current income and capital appreciation through the sourcing and origination of senior secured loans and select junior capital positions, to growing businesses in defensive industries that offer attractive risk-adjusted returns. It makes investments through both primary originations and open-market secondary purchases. It invests a significant portion of its portfolio in unitranche loans, which are loans that combine both senior and subordinated debt, generally in a first lien position. The Company invests in various sectors, such as software, business services, healthcare, education, consumer services, distribution and logistics, packaging, financial services, and others. New Mountain Finance Advisers BDC, L.L.C. is the investment adviser of the Company. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, New Mountain Finance Corp. revenues increased 27% to $374.8M. Net income increased 81% to $135.3M. Revenues reflect Interest income (excluding Payment-in-ki increase of 36% to $249.9M, PIK Interest Income increase from $4.5M to $15.4M, Interest Income increase of 36% to $16M. Net income benefited from FV/Uls Adjust on Derivatives for Hedging increase from $81.2M (expense) to $48M (income). |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $3,089M as of Dec 31, 2023 |
| Annual revenue (TTM): | $374.84M as of Dec 31, 2023 |
| EBITDA (TTM): | $160.32M as of Dec 31, 2023 |
| Net annual income (TTM): | $135.34M as of Dec 31, 2023 |
| Free cash flow (TTM): | $181.99M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,738M as of Dec 31, 2023 |
| Shares outstanding: | 106,289,293 as of Mar 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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