New Mountain Finance Corp 8-K, filed Nov 2, 2026

New Mountain Finance Corp (NMFC)

8-K 2026-11-02 For: 2026-11-02

Added on November 02, 2026

About this 8-K

New Mountain Finance Corp filed this 8-K on November 2, 2026.

New Mountain Finance Corporation reported adjusted net investment income of $24.1 million, or $0.26 per share, for the quarter ended September 30, 2026. It declared a $0.25 per share distribution payable December 31, 2026, and NAV was $10.67 per share. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Exhibit Number						Description

99.1						Press Release, dated November 2, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


($ in millions, except per share data)	Q3 2026			Q3 2025
Net Investment Income per Weighted Average Share	$	0.25		$	0.32
Non-recurring Adjustments1	0.01			—
Adjusted Net Investment Income1 per Weighted Average Share	$	0.26		$	0.32
Regular Dividends Paid per Share in Quarter	$	0.25		$	0.32
Annualized Dividend Yield3	14.2		%	13.2		%


	September 30, 2026		June 30, 2026
Investment Portfolio4	$	2,265.7	$	2,295.5
NAV per Share	$	10.67	$	10.89
Statutory Debt/Equity5	1.19x		1.16x
Statutory Debt/Equity (Net of Available Cash)5	1.15x		1.11x



Business Services				Healthcare
	Utility & Data Center Services	7.2	%		Healthcare Services	9.3	%
	Real Estate Services	4.8	%		Healthcare IT & Tech-Enabled Services	6.0	%
	Insurance & Benefits Services	4.5	%		Healthcare Products	2.2	%
	Misc Services	2.4	%		Pharma Services	1.8	%
	Digital Transformation	1.7	%	Total Healthcare		19.3	%
	Data & Information Services	1.5	%
	Compliance Services	1.4	%	Financial Services & Technology
	Field Services	1.3	%		Financial Services	3.5	%
	Engineering & Consulting Services	0.9	%		Integrated Payments	2.3	%
Total Business Services		25.7	%		Financial Technology	1.4	%
				Total Financial Services & Technology		7.2	%
Software
	ERP	7.2	%	Other Industries
	IT Infrastructure & Security	4.7	%		Consumer Services	7.5	%
	Finance & Accounting	4.6	%		Education	6.3	%
	Human Capital Management	2.3	%		Distribution & Logistics	5.3	%
	Commerce & Supply Chain	0.9	%		Packaging	4.5	%
	Governance, Risk & Compliance	0.2	%		Other	4.3	%
Total Software		19.9	%	Total Other Industries		27.9	%


(in millions)	As of September 30, 2026
Risk Rating		Cost		Percent		Fair Value		Percent		Weighted Average Mark11
Green9		$	2,036.0	82.0	%	$	1,950.6	86.1	%	95.2	%
Yellow4		353.1		14.2	%	266.1		11.7	%	69.5	%
Orange		79.8		3.2	%	47.3		2.1	%	69.8	%
Red		15.1		0.6	%	1.7		0.1	%	10.8	%
Total		$	2,484.0	100.0	%	$	2,265.7	100.0	%


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


(in millions)
Investment Portfolio Composition	September 30, 2026		Percent of Total
First Lien	$	1,430.9	63.2	%
Senior Loan Funds (SLP III & SLP IV) & NMNLC	378.6		16.7	%
Second Lien	68.1		3.0	%
Subordinated	101.7		4.5	%
Preferred Equity	160.3		7.1	%
Common Equity and Other10	126.1		5.5	%
Total	$	2,265.7	100.0	%


	September 30, 2026		December 31, 2025
Assets
Investments at fair value
Non-controlled/non-affiliated investments (cost of $1,664,543 and $2,060,391, respectively)	$	1,559,410	$	2,002,306
Non-controlled/affiliated investments (cost of $136,025 and $131,221, respectively)	69,692		60,702
Controlled investments (cost of $653,422 and $720,503, respectively)	630,860		679,005
Total investments at fair value (cost of $2,453,990 and $2,912,115, respectively)	2,259,962		2,742,013
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively)	5,700		13,500
Cash and cash equivalents	41,912		80,718
Interest and dividend receivable	31,675		38,549
Receivable from broker	60		—
Receivable from affiliates	53		381
Derivative asset at fair value	—		5,647
Receivable from unsettled securities sold	—		4,138
Other assets	13,339		17,907
Total assets	$	2,352,701	$	2,902,853
Liabilities
Borrowings
Unsecured Notes	$	778,013	$	991,585
Holdings Credit Facility	391,446		420,063
SBA-guaranteed debentures	120,000		196,205
NMFC Credit Facility	30,212		81,074
Deferred financing costs (net of accumulated amortization of $50,994 and $45,302, respectively)	(15,470)		(17,875)
Net borrowings	1,304,201		1,671,052
Derivative liability at fair value	9,296		366
Interest payable	7,454		11,892
Management fee payable	7,312		9,176
Incentive fee payable	4,160		3,018
Deferred tax liability	1,838		1,819
Payable for unsettled securities purchased	168		463
Payable to broker	—		14,630
Other liabilities	4,064		2,181
Total liabilities	1,338,493		1,714,597
Commitments and contingencies
Net assets
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued	—		—
Common stock, par value $0.01 per share, 200,000,000 shares authorized, 107,851,929 and 107,851,929 shares issued, respectively, and 94,452,390 and 102,638,388 shares outstanding, respectively	1,079		1,079
Paid in capital in excess of par	1,354,726		1,354,726
Treasury stock at cost, 13,399,539 and 5,213,541 shares held, respectively	(117,515)		(51,952)
Accumulated overdistributed earnings	(230,243)		(121,676)
Total net assets of New Mountain Finance Corporation	$	1,008,047	$	1,182,177
Non-controlling interest in New Mountain Net Lease Corporation	6,161		6,079
Total net assets	$	1,014,208	$	1,188,256
Total liabilities and net assets	$	2,352,701	$	2,902,853
Number of shares outstanding	94,452,390		102,638,388
Net asset value per share of New Mountain Finance Corporation	$	10.67	$	11.52


	Three Months Ended				Nine Months Ended
	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025
Investment income
From non-controlled/non-affiliated investments:
Interest income (excluding Payment-in-kind ("PIK") interest income)	$	35,311	$	49,811	$	110,509	$	155,508
PIK interest income	3,602		2,968		8,497		8,812
Dividend income	147		179		2,304		1,242
Non-cash dividend income	1,272		4,026		3,464		12,432
Other income	1,349		1,436		4,368		3,640
From non-controlled/affiliated investments:
Interest income (excluding PIK interest income)	324		322		959		989
PIK interest income	1,330		1,132		3,774		3,176
Dividend income	689		—		689		—
Non-cash dividend income	352		304		1,753		2,279
Other income	63		63		188		188
From controlled investments:
Interest income (excluding PIK interest income)	1,594		1,665		6,511		5,172
PIK interest income	1,694		3,505		4,907		10,093
Dividend income	8,671		11,818		31,285		36,199
Non-cash dividend income	3,555		2,925		10,165		7,374

Other income	461		375		1,310		2,578
Total investment income	60,414		80,529		190,683		249,682
Expenses
Interest and other financing expenses	22,867		31,720		72,845		94,232
Management fee	7,312		9,619		22,880		29,611
Incentive fee	5,548		7,345		17,417		23,563
Professional fees	894		924		2,978		3,413
Administrative expenses	806		916		2,771		3,204
Other general and administrative expenses	681		478		1,755		1,325
Total expenses	38,108		51,002		120,646		155,348
Less: management and incentive fees waived	(1,387)		(4,544)		(8,932)		(8,952)

Net expenses	36,721		46,458		111,714		146,396
Net investment income before income taxes	23,693		34,071		78,969		103,286
Income tax expense	—		29		23		18
Net investment income	23,693		34,042		78,946		103,268
Net realized (losses) gains:
Non-controlled/non-affiliated investments	(530)		8		(58,933)		12,324

Controlled investments	(2)		1		(18,593)		38,899


Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments	(14,408)		(8,977)		(46,117)		(33,783)
Non-controlled/affiliated investments	(1,946)		(9,736)		4,186		(23,555)
Controlled investments	(2,905)		(2,851)		18,937		(53,833)
Securities purchased under collateralized agreements to resell	—		—		(7,800)		—

Foreign currency	9		(120)		(97)		482
Provision for taxes	(168)		(25)		(22)		(68)
Net realized and unrealized losses	(19,950)		(21,700)		(108,439)		(59,534)
Net increase (decrease) in net assets resulting from operations	3,743		12,342		(29,493)		43,734


Less: Net increase in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation	(264)		(153)		(699)		(358)
Net increase (decrease) in net assets resulting from operations related to New Mountain Finance Corporation	$	3,479	$	12,189	$	(30,192)	$	43,376
Basic earnings (loss) per share	$	0.04	$	0.11	$	(0.31)	$	0.40
Weighted average shares of common stock outstanding - basic	94,452,390		106,016,542		96,471,368		107,199,318
Diluted earnings (loss) per share	$	0.04	$	0.11	$	(0.31)	$	0.40
Weighted average shares of common stock outstanding - diluted	94,452,390		125,036,696		96,471,368		126,201,036
Distributions declared and paid per share	$	0.25	$	0.32	$	0.82	$	0.96


Item 2.02.			Results of Operations and Financial Condition


Item 9.01.			Financial Statements and Exhibits.