)
Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
MidCap Financial Investment
MidCap Financial Investment (MFIC) investor relations material
MidCap Financial Investment Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Feb, 2026
Executive summary
Net investment income per share for Q4 2025 was $0.39, up from $0.38 in Q3 2025, with total net investment income of $36.0 million.
GAAP net loss per share was $0.14, or $0.10 excluding $0.04 of one-time financing expenses.
NAV per share declined 3.3% sequentially to $14.18, mainly due to older vintage investments.
The Board declared a quarterly dividend of $0.31 per share and authorized a new $100 million stock repurchase plan, bringing total repurchase capacity to $107.9 million.
Portfolio fair value at quarter-end was $3.17 billion, invested across 247 companies in 46 industries.
Financial highlights
Total investment income for Q4 was $78.4 million, down 5.1% from the prior quarter due to lower base rates and new non-accruals.
Net expenses were $42.4 million, down 10.4% sequentially, mainly due to no incentive fees and lower interest expense.
Portfolio net loss was $45.3 million, or $0.49 per share.
Net assets were $1.31 billion at year-end, down from $1.40 billion at the end of 2024.
Cost of debt declined to 5.95% from 6.37% last quarter.
Outlook and guidance
The Board expects to continue aggressive stock repurchases if the discount to NAV and trading volumes persist, aiming to fully utilize $107.9 million in authorization by late May.
Dividend policy may be adjusted based on ongoing assessment of earnings power and market conditions; no assurance of continued base dividend at this level.
Anticipate further repayments from Merx in the next 12 months, which could cushion dividends.
Confident in sustainability of new dividend level based on earnings models and capital structure initiatives.
Reconcile NAV decline with portfolio resilience
Drivers of long-term earnings power re-assessment
Strategy for aggressive $100M repurchase plan
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next MidCap Financial Investment earnings date
Q1 202612 May, 2026
MidCap Financial Investment
Next MidCap Financial Investment earnings date
Q1 202612 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
MidCap Financial Investment Corporation is a business development company that provides capital to middle-market companies. Its investment portfolio includes secured loans, equity investments, and other debt instruments, targeting sectors such as healthcare, manufacturing, and technology. The company is headquartered in Bethesda, Maryland, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage