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New Mountain FinanceNMFC +1.81%48 Piotroski F-Score is 5 as of Aug. 19, 2026, which is 25% above its 10-year median of 4.00. GuruFocus rates NMFC with a GF Score™ of 48/100 and a GF Value™ of $12.21 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 1,595 Asset Management companies, New Mountain Finance ranks better than 63.76% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Mountain Finance has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for New Mountain Finance's Piotroski F-Score or its related term are showing as below:
NMFC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 4 Max: 9
Current: 5
During the past 13 years, the highest Piotroski F-Score of New Mountain Finance was 9. The lowest was 1. And the median was 4.
New Mountain Finance (NAS:NMFC) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
New Mountain Finance Piotroski F-Score Related Terms
New Mountain Finance Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for New Mountain Finance's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NMFC vs BHK, NKX, ACP: Piotroski F-Score Comparison
For the Asset Management subindustry, New Mountain Finance's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
New Mountain Finance Piotroski F-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, New Mountain Finance's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where New Mountain Finance's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 12.189 + -26.888 + -50.928 + 17.257 = $-48.37 Mil. Cash Flow from Operations was 73.14 + 161.589 + 401.412 + 24.413 = $660.55 Mil. Revenue was 10.17 + -27.968 + -54.454 + 18.673 = $-53.58 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(3159.712 + 3088.909 + 2902.853 + 2427.217 + 2415.453) / 5 = $2798.8288 Mil. Total Assets at the begining of this year (Jun25) was $3,159.71 Mil. Long-Term Debt & Capital Lease Obligation was $1,346.39 Mil. Total Assets was $2,415.45 Mil. Total Liabilities was $1,380.64 Mil.
Net Income was 23.889 + 27.675 + 23.413 + 7.774 = $82.75 Mil.
Revenue was 26.688 + 29.722 + 24.707 + 7.933 = $89.05 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(3423.618 + 3414.256 + 3246.701 + 3196.651 + 3159.712) / 5 = $3288.1876 Mil. Total Assets at the begining of last year (Jun24) was $3,423.62 Mil. Long-Term Debt & Capital Lease Obligation was $1,767.63 Mil. Total Assets was $3,159.71 Mil. Total Liabilities was $1,847.88 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
New Mountain Finance's current Net Income (TTM) was -48.37.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
New Mountain Finance's current Cash Flow from Operations (TTM) was 660.55.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
New Mountain Finance's return on assets of this year was -0.01530836. New Mountain Finance's return on assets of last year was 0.02417063.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
New Mountain Finance's gearing of this year was 0.48105336. New Mountain Finance's gearing of last year was 0.53756969.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
New Mountain Finance's current ratio of this year was 1.74951943. New Mountain Finance's current ratio of last year was 1.7099156.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
New Mountain Finance's number of shares in issue this year was 94.551. New Mountain Finance's number of shares in issue last year was 126.733.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
New Mountain Finance's net margin of this year was 0.90277907. New Mountain Finance's net margin of last year was 0.92926446.
==> Last year's net margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
New Mountain Finance's asset turnover of this year was -0.01695693. New Mountain Finance's asset turnover of last year was 0.0260105.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Mountain Finance has an F-score of 5 indicating the company's financial situation is typical for a stable company.
New Mountain Finance (NMFC) has a Piotroski F-Score of 5 as of Aug. 19, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on New Mountain Finance and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, New Mountain Finance's Piotroski F-Score has ranged from 1.00 to 9.00. According to the industry distribution chart, New Mountain Finance ranks #578 out of 1595 companies in the Asset Management industry, placing it in the top 36.2%.
Is New Mountain Finance's Piotroski F-Score too high?
New Mountain Finance's current Piotroski F-Score of 5 is 25% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 9.00. The Asset Management industry median Piotroski F-Score is 5.00. New Mountain Finance's value of 5 is 0% at this industry median. Based on the distribution chart, New Mountain Finance ranks #578 out of 1595 companies in the Asset Management industry, which is above the industry midpoint. Overall, New Mountain Finance has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does New Mountain Finance's Piotroski F-Score compare to BHK and NKX?
According to the Asset Management industry distribution chart, New Mountain Finance ranks #578 out of 1595 companies for Piotroski F-Score. This puts New Mountain Finance in the upper half of its industry. The industry median Piotroski F-Score is 5.00. New Mountain Finance's value of 5 is 0% at this benchmark. Historically, New Mountain Finance's own Piotroski F-Score has ranged from 1.00 to 9.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, New Mountain Finance has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Asset Management company?
The median Piotroski F-Score among Asset Management companies is 5.00, based on 1,595 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. New Mountain Finance's current Piotroski F-Score of 5 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on New Mountain Finance and its competitors. For the Asset Management industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Mountain Finance's current Piotroski F-Score is 5, which is 25% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Mountain Finance stock overvalued right now?
Based on GuruFocus' analysis, New Mountain Finance (NMFC) is currently considered Possible Value Trap. The stock's GF Value™ is $12.21, compared to a current price of $7.59 — trading 37.8% below its estimated fair value. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Asset Management industry median of 5.00. New Mountain Finance's overall GF Score™ is 48/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For New Mountain Finance (NMFC), the current Piotroski F-Score is 5 as of Aug. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is New Mountain Finance (NMFC) Overvalued in 2026?
Based on GuruFocus' analysis, New Mountain Finance stock appears to be undervalued.
The current stock price of $7.59 is trading 37.8% below its estimated GF Value™ of $12.21.
GuruFocus considers New Mountain Finance to be Possible Value Trap.
Key valuation signals for NMFC:
Piotroski F-Score: 5 (25% above median its 10-year median of 4.00)
GF Value™: $12.21 vs. price of $7.59 (37.8% below fair value)
Industry Position: 0% at the Asset Management median (#578 of 1595)
No single metric tells the full story. See the NMFC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Mountain Finance Corp is a closed-end, non-diversified management investment company. It invests in equity interests such as preferred stock, common stock, warrants, or options received in connection with debt investments or may include direct investment in the equity of private companies. The company's investment objective is to generate current income and capital appreciation through sourcing and origination of debt securities at all levels of the capital structure, including first and second-lien debt, notes, bonds and mezzanine securities.
48GF Score
Get the complete analysis for NMFC
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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