MARCUS CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MARCUS CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	574	654	707	821	238	458	677	730	736	758
Selling and marketing	21.6	24	23.8	24.6	11.1	16.1	23.9	22.8	24.6	26.1
General and administrative	62.1	67	72.1	73.5	51	63.4	74.8	78.6	89	92.6
Operating income	71.5	77.3	83.2	68.2	-178	-41.5	8.31	33.9	16.2	17.1
Interest expense	9.18	12.1	13.1	11.8	16.3	18.7	15.3	12.7	11	11.5
Other non-operating income	-10.9	-9.2	-16.6	-13.8	-17.4	-17.5	-10.3	-12.3	-26.4	-8.36
Pre-tax income	60.5	68.1	66.6	54.4	-196	-59	-1.97	21.7	-10.2	8.71
Income tax	23	3.63	13.1	12.3	-70.9	-15.7	7.14	6.86	-2.42	-3.98
Net income to minority interests	-0.36	-0.51	0.07	0.1	-0.02	0	2.87	0	0
Net income	37.9	65	53.4	42	-125	-43.3	-12	14.8	-7.79	12.7
EBITDA	113	129	145	140	-103	30.7	75.4	101	84.1	87.3
Shares, basic (weighted)	27.6	27.8	28.1	30.7	31	31.4	31.5	31.7	31.9	31.2
Shares, diluted (weighted)	28	28.4	28.7	31.2	31	31.4	31.5	41	31.9	31.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3.24	16.2	17.1	20.9	6.75	17.7	21.7	55.6	40.8	23.4
Receivables	6.35	11.2	8.54	9.33	0.41	8.98	6.71	7.64	6.9	6.97
Inventory	4.44	4.06	4.14	5.67	3.43	4.91	5.66	5.91	6.97	7.03
Other current assets	11	13.4	15.4	18.3	10.4	15.4	17.5	22.2	24.9	18.9
Total current assets	36.1	76.7	68.9	79.3	67.8	99.9	63.9	102	92.2	64.6
Property, plant and equipment	789	860	840	923	848	771	716	682	686	698
Lease right-of-use assets			0	244	230	217	195	180	159	142
Goodwill	43.7	43.5	43.2	75.3	75.2	75.1	75	75	75	75
Intangible assets									6.9	6.79
Other non-current assets	36.1	33.3	33.1	33.9	31.1	12.7	12.9	24.6	23.3	24.2
Total assets	911	1,018	989	1,359	1,254	1,188	1,065	1,065	1,045	1,015
Accounts payable	31.2	51.5	37.5	49.4	13.2	35.8	32.2	37.4	50.7	44.5
Accrued liabilities	17	15.6	17.5	18.1	7.63	20.5	22.5	22.6	25	23.6
Deferred revenue	28.5	32.7
Short-term debt	12	12	9.96	9.91	10.5	11	10.4	10.3	10.1	0
Total current liabilities	131	160	149	175	217	213	156	164	177	163
Long-term debt	271	290	229	206	193	204	170	160	149	159
Lease liabilities			0	232	231	216	195	179	165	149
Total liabilities	520	573	499	738	755	735	608	594	580	557
Total debt	283	302	239	216	226	215	180	170	159	159
Paid-in capital	58.6	61.5	63.8	146	154	146	154	161	177	184
Retained earnings	351	403	439	462	332	289	274	282	265	269
Treasury stock	-45.8	-43.4	-37.4	-4.54	-2.96	-1.38	-1.87	-1.5	-9.38	-27.5
Other comprehensive income	-5.07	-7.43	-6.76	-12.6	-14.9	-11.4	-1.69	-1.34	-0.18	-0.01
Shareholders' equity	390	445	490	621	499	454	456	471	465	457
Minority interests	1.54	0.1	0.11	0.02	0	0	0.82	0
Total equity	392	445	490	621	499	454	457	471	465	457
Total liabilities and equity	911	1,018	989	1,359	1,254	1,188	1,065	1,065	1,045	1,015

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	37.5	64.5	53.5	42.1	-125	-43.3	-9.1	14.8	-7.79	12.7
Depreciation and amortization	41.8	51.7	61.3	72.3	75.1	72.1	67.1	67.3	68	70.2
Stock-based compensation	1.9	2.41	2.69	3.52	4.39	9.32	8.17	6.39	8.21	7.5
Deferred income tax	3.02	-6.44	3.25	9.11	-38.8	-15.8	7.03	5.56	-3.98	-4.27
Change in payables	-1.98	15	-4.23	9.73	-32.1	21.5	-3.26	4.23	10.4	-3.46
Cash from operations	82.7	109	137	141	-68.6	46.3	93.2	103	104	84.2
Capital expenditures	-83.6	-115	-58.7	-64.1	-21.4	-17.1	-36.8	-38.8	-79.2	-83.2
Acquisitions	-63.8	0	0	-30.1	0	0
Cash from investing	-141	-101	-59.3	-93.9	-12.1	10.9	-0.35	-36.7	-81.9	-71.4
Debt issued	0	65	0	0			0	0	100	0
Debt repaid	-52.3	-36.3	-12.2	-24.6	-9.45	-10.7	-35.7	-11.4	-11.4	-10.4
Stock issued	3.99	2.27	7.05
Dividends paid	-12	-13.5	-16.4	-19.3	-5.15	0	-3.08	-7.45	-8.78	-9.16
Cash from financing	42.5	4.21	-76.9	-43.8	69.1	-47.2	-92.4	-30.5	-37.3	-30.8
Net change in cash	-3.43	13	1.18	3.69	-11.5	9.97	0.45	35.3	-15.3	-18
Free cash flow	-0.95	-5.77	78.7	77.4	-89.9	29.2	56.4	63.9	24.7	0.99
Interest paid	9.11	10.3	11.4	10.3	10.9	14.1	13.4	9.74	8.68	10.7
Income taxes paid	25	23.7						1.78	1.43	0.24

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $27.20 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	4.9%	Operating income / revenue.
EBITDA margin	13.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.4%	Pre-tax income / revenue.
Net margin	3.1%	Net income / revenue.
FCF margin	9.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	15.4%	Cash from operations / revenue.
Effective tax rate	8.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	5.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.5%	Net income / average total assets.
Return on invested capital (ROIC)	6.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.0%	Capital expenditures / revenue.
D&A / revenue	8.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	26.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	5.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	27.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	3.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-19.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-96.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-74.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-1.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-1.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-4.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.67x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.39x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.31x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.6%	Total debt / total assets.
Liabilities / assets	53.1%	Total liabilities / total assets.
Net debt	$88.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.81x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.69x	Operating income / interest expense.
Working capital	-$51.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	7.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$405.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.80x	Revenue / average total assets.
Fixed asset turnover	623x	Revenue / average property, plant and equipment.
Receivables turnover	39.5x	Revenue / average receivables.
Days sales outstanding	9 days	365 x average receivables / revenue.
FCF conversion	305.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	38.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.80	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$25.95	Revenue / diluted weighted shares.
FCF per share	$2.44	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.00	Cash from operations / diluted weighted shares.
Book value per share	$15.25	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$12.87	Tangible book value / shares outstanding.
Cash per share	$1.91	(Cash + short-term investments) / shares outstanding.
Payout ratio	39.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	12.9%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$838.6M	Share price x shares outstanding.
Enterprise value	$927.6M	Market cap + total debt - cash - short-term investments.
P/E	33.3x	Market cap / net income. Only when net income is positive.
P/S	1.03x	Market cap / revenue.
P/B	1.75x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.07x	Market cap / tangible book value, when positive.
P/FCF	10.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.66x	Market cap / cash from operations, when positive.
EV/Sales	1.13x	Enterprise value / revenue.
EV/EBIT	23.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.43x	Enterprise value / EBITDA, when both are positive.
EV/FCF	12.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.2%	Free cash flow / market cap.
Earnings yield	3.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	1.2%	(Dividends paid + share buybacks) / market cap.

What was MARCUS CORP's revenue in fiscal 2025?

MARCUS CORP reported revenue of $758.5M for fiscal 2025, 3.1% higher than the year before.

Was MARCUS CORP profitable in fiscal 2025?

Yes. Net income was $12.7M, a net margin of 1.7%.

How much free cash flow did MARCUS CORP generate in fiscal 2025?

Cash from operations of $84.2M minus capital expenditures of $83.2M left free cash flow of $989.0K.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to MARCUS CORP