MEDALLION FINANCIAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data MEDALLION FINANCIAL 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

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Interest expense	28.4	35	34.2	31.1	36.2	62.9
Interest income	3.29
Pre-tax income	-10.7	2.34	-37	81.9	67.9	86	62.9	79.9
Income tax	0.07	0.34	-10.1	24.2	18	24.9	21	24.5
Net income to minority interests	2.31	3.76	7.88	3.55	6.05	6.05	6.05	8.78
Net income	-25	-1.76	-34.8	54.1	43.8	55.1	35.9	43
EPS, basic	-1.03	-0.07	-1.42	2.20	1.86	2.45	1.59	1.89
EPS, diluted	-1.03	-0.07	-1.42	2.17	1.83	2.37	1.52	1.78
Shares, basic (weighted)	24.2	24.3	24.4	24.6	23.6	22.5	22.5	22.8
Shares, diluted (weighted)	24.2	24.3	24.4	24.9	23.9	23.2	23.6	24.2
Dividend per share		0.00	0.00	0.00

Balance sheet

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	57.7	17.7	54.7	64.5	33.2	52.6	98.2	136
Lease right-of-use assets		13.5	11.7	10	9.72	8.79	6.92	6.9
Goodwill	151	151	151	151	151	151	151	151
Intangible assets	54	52.5	51.1	23.5	22	20.6	19.1	17.7
Total assets	1,382	1,542	1,642	1,873	2,260	2,588	2,869	2,955
Short-term debt	55.2	38.2	87.3	0	5	8	49	95.3
Lease liabilities		12.7	11	9.05	8.41	7.02	5.13	5.04
Total liabilities	1,092	1,207	1,338	1,517	1,889	2,176	2,430	2,447
Total debt	159	175	154	220	214	236	232	216
Paid-in capital	274	276	278	280	284	288	293	299
Retained earnings	13	11.3	-23.5	30.6	66.7	104	130	162
Treasury stock	-24.9	-24.9	-24.9	-24.9	-45.5	-45.5	-50.1	-51.1
Other comprehensive income	-0.08	1	2.01	1.03	-3.35	-3.7	-3.65	-2.38
Shareholders' equity	263	263	231	287	302	343	370	409
Minority interests	27.6	71.3	73.2	68.8	68.8	68.8	68.8	99.4
Total equity	290	334	305	356	371	412	439	508
Total liabilities and equity	1,382	1,542	1,642	1,873	2,260	2,588	2,869	2,955
Shares outstanding	24.4	24.6	24.9	25.2	23.1	23.4	23.1	23.3

Cash flow statement

	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-22.7	2	-26.9	57.7	49.9	61.1	41.9	55.3
Depreciation and amortization	5.56	7.5	7.71	6.52	5.23	5.24	6.22	8.32
Stock-based compensation	0.58	1.22	2.03	2.26	3.48	4.71	6.05	6.74
Change in payables	-0.68	-8.02	-7.21	2.69	6.38	6.21	-8.74	-3.91
Cash from operations	66.6	64.9	78.7	78.7	109	114	109	126
Purchases of investments	-10.4	-10.5	-15.6	-19.4	-20.7	-11.6	-7.74	-14.8
Cash from investing	-23.7	-207	-171	-238	-449	-341	-329	-124
Stock issued			0	0.24	0.16	0.44	0.26	0.52
Share buybacks			0	0	-20.6	0	-4.61	-0.99
Dividends paid	-0.07		0	0	-7.54	-7.7	-9.39	-11
Cash from financing	-27.7	152	136	172	321	271	240	30.2
Net change in cash	15.2	10.1	44.2	12.4	-18.9	44.2	19.7	32
Interest paid	25.1	32	31.2	29.9	32	57.5	82.8	96
Income taxes paid	0.09	0.31	0.1	5.48	8.85	25.1	22.5	23.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $11.96 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	31.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.0%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	20.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-0.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	17.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-0.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	16.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.6%	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	12.0%	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	3.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.4%	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	12.5%	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	2.7%	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	0.4%	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
Debt / equity	0.71x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	9.0%	Total debt / total assets.
Liabilities / assets	84.2%	Total liabilities / total assets.
Net debt	$115.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	5.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$238.2M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.35	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.
Operating cash flow per share	$7.28	Cash from operations / diluted weighted shares.
Book value per share	$17.62	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10.34	Tangible book value / shares outstanding.
Cash per share	$7.49	(Cash + short-term investments) / shares outstanding.
Payout ratio	36.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$274.6M	Share price x shares outstanding.
Enterprise value	$389.6M	Market cap + total debt - cash - short-term investments.
P/E	8.49x	Market cap / net income. Only when net income is positive.
P/B	0.68x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.15x	Market cap / tangible book value, when positive.
P/OCF	1.57x	Market cap / cash from operations, when positive.
Earnings yield	11.8%	Net income / market cap (the inverse of P/E).
Dividend yield	4.3%	Dividends paid over the period / market cap.
Shareholder yield	7.1%	(Dividends paid + share buybacks) / market cap.

Was MEDALLION FINANCIAL CORP profitable in fiscal 2025?

Yes. Net income was $43.0M, a net margin of -.

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.

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