Medifast, Inc. (MED) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MED SEC filings page.
Medifast, Inc. (MED) reported $316.9M in revenue over the twelve months to Jun 30, 2026, down 34.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Medifast's revenue base contracted sharply while gross margins stayed near 72.0% , leaving overhead to consume nearly all remaining gross profit.
The five-year revenue contraction reached FY2025 without materially changing gross margin, so pressure landed below gross profit: SG&A consumed75.0% of sales versus59.7% in FY2021. FY2025 operating cash flow of$6.9M translated into only$1.2M of free cash flow, showing little cushion after reinvestment.
The balance sheet is more conservative than the income statement: FY2025 liabilities were
Inventory fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Medifast, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Medifast, Inc. has an operating margin of -3.7%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 36/100. This is down from 0.5% the prior year.
Medifast, Inc.'s revenue declined 36.0% year-over-year, from $602.5M to $385.8M. This contraction results in a growth score of 1/100.
Medifast, Inc. carries a low D/E ratio of 0.25, meaning only $0.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.69, Medifast, Inc. holds $4.69 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 91/100.
While Medifast, Inc. generated $6.9M in operating cash flow, capex of $5.6M consumed most of it, leaving $1.2M in free cash flow. This results in a low score of 39/100, reflecting heavy capital investment rather than weak cash generation.
Medifast, Inc. posts a -9.6% return on equity (ROE), meaning it loses $10 for every $100 of shareholders' equity. This results in a returns score of 53/100. This is down from 0.9% the prior year.
Medifast, Inc. scores 4.65, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Medifast, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Medifast, Inc. reported a net loss of $19.0M while generating $6.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Medifast, Inc. generated $76.4M in revenue in Q2 2026. This represents a decrease of 27.6% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.
Medifast, Inc.'s EBITDA was -$881K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 129.6% from the same quarter a year earlier. Against the prior quarter it is down 568.6%.
Medifast, Inc. reported -$3.1M in net income in Q2 2026. This represents a decrease of 225.0% from the same quarter a year earlier. Against the prior quarter it is down 46.1%.
Medifast, Inc. earned -$0.28 per diluted share (EPS) in Q2 2026. This represents a decrease of 227.3% from the same quarter a year earlier. Against the prior quarter it is down 47.4%.
Cash & Balance Sheet
Medifast, Inc. generated $728K in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 115.3% from the same quarter a year earlier. Against the prior quarter it is up 187.1%.
Medifast, Inc. held $71.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Medifast, Inc.'s gross margin was 69.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.
Medifast, Inc.'s operating margin was -5.7% in Q2 2026, reflecting core business profitability. This is down 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.
Medifast, Inc.'s net profit margin was -4.1% in Q2 2026, showing the share of revenue converted to profit. This is down 6.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.
Medifast, Inc.'s ROE was -1.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.
Capital Allocation
Medifast, Inc. invested $969K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 29.7% from the same quarter a year earlier. Against the prior quarter it is down 11.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
MED Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $76.4M-27.6% | $76.0M-34.3% | $75.1M-36.9% | $89.4M-36.2% | $105.6M-37.4% | $115.7M-33.8% | $119.0M-37.7% | $140.2M-40.6% |
| Cost of Revenue | $23.0M-20.5% | $24.3M-22.9% | $23.0M-25.4% | $27.3M-21.0% | $28.9M-35.9% | $31.5M-33.6% | $30.8M-38.0% | $34.5M-41.0% |
| Gross Profit | $53.4M-30.3% | $51.8M-38.6% | $52.1M-40.9% | $62.2M-41.2% | $76.6M-37.9% | $84.2M-33.8% | $88.2M-37.6% | $105.7M-40.4% |
| SG&A Expenses | $57.7M-25.7% | $55.1M-35.6% | $59.9M-31.5% | $66.2M-36.0% | $77.7M-40.8% | $85.5M-28.4% | $87.5M-34.0% | $103.6M-31.8% |
| Operating Income | -$4.3M-305.9% | -$3.3M-161.1% | -$7.8M-1202.3% | -$4.1M-293.8% | -$1.1M+86.5% | -$1.3M-115.9% | $708K-91.8% | $2.1M-91.7% |
| EBITDA | -$881K-129.6% | $188K-90.7% | -$4.3M-211.5% | -$629K-111.9% | $3.0M+161.9% | $2.0M-82.0% | $3.9M-67.6% | $5.3M-81.7% |
| Income Tax | $109K-72.4% | $181K-86.1% | $11.7M+2375.9% | -$396K-188.2% | $395K+115.8% | $1.3M-60.3% | $474K-87.4% | $449K-86.9% |
| Net Income | -$3.1M-225.0% | -$2.1M-174.9% | -$18.4M-2701.8% | -$2.3M-300.3% | $2.5M+130.4% | -$772K-109.3% | $709K-87.4% | $1.1M-95.1% |
| EPS (Basic) | -$0.28-221.7% | -$0.19-171.4% | -$1.65-2457.1% | -$0.21-310.0% | $0.23+130.7% | -$0.07-109.2% | $0.07-87.3% | $0.10-95.3% |
| EPS (Diluted) | -$0.28-227.3% | -$0.19-171.4% | -$1.65-2457.1% | -$0.21-310.0% | $0.22+129.3% | -$0.07-109.2% | $0.07-87.3% | $0.10-95.3% |
| Diluted Shares (Avg) | 11M+0.7% | 11M+0.5% | N/A | 11M+0.2% | 11M+1.1% | 11M-0.1% | N/A | 11M+0.3% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
MED Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $260.4M-3.3% | $252.0M-10.0% | $248.0M-12.8% | $268.2M-7.9% | $269.3M-8.2% | $280.0M-7.5% | $284.2M-8.3% | $291.2M-9.0% |
| Current Assets | $202.0M-2.1% | $202.6M-5.1% | $201.7M-5.9% | $207.8M-7.6% | $206.4M-8.0% | $213.5M-2.8% | $214.4M-4.3% | $225.0M+0.3% |
| Cash & Equivalents | $71.9M-29.3% | $71.5M-22.0% | $89.3M-1.8% | $99.5M-13.7% | $101.7M-5.9% | $91.7M-5.9% | $90.9M-3.7% | $115.3M+2.3% |
| Short-Term Investments | $97.9M+60.6% | $97.4M+33.7% | $78.0M+9.2% | $74.0M+35.4% | $61.0M+9.9% | $72.9M+23.6% | $71.4M+28.4% | $54.6M+21.4% |
| Inventory | $21.2M-29.9% | $21.4M-45.6% | $20.2M-52.3% | $23.2M-42.1% | $30.2M-23.7% | $39.4M-14.9% | $42.4M-22.3% | $40.1M-31.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $64.0M+20.1% | $54.4M-21.3% | $49.1M-33.8% | $53.5M-36.2% | $53.3M-39.6% | $69.1M-24.8% | $74.1M-31.7% | $83.9M-33.9% |
| Current Liabilities | $41.6M-10.0% | $42.2M-30.4% | $43.0M-33.0% | $46.7M-35.5% | $46.2M-38.6% | $60.6M-21.5% | $64.2M-30.5% | $72.4M-34.3% |
| Non-Current Liabilities | $22.5M+214.4% | $12.2M+44.1% | $6.1M-38.7% | $6.8M-41.1% | $7.1M-45.3% | $8.5M-42.1% | $9.9M-38.3% | $11.5M-31.7% |
| Total Equity | $196.4M-9.1% | $197.7M-6.3% | $198.9M-5.3% | $214.7M+3.6% | $216.0M+5.2% | $211.0M0.0% | $210.1M+4.3% | $207.3M+7.4% |
| Retained Earnings | $153.0M-14.3% | $156.1M-11.3% | $158.3M-10.5% | $176.2M+0.2% | $178.5M+2.1% | $176.0M-3.8% | $176.8M+1.2% | $176.0M+4.3% |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill, Long-Term Debt.
MED Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.7M+150.2% | $260K-92.4% | -$5.3M-6.7% | $12.1M+33.5% | -$3.4M-125.8% | $3.4M-53.2% | -$4.9M-147.0% | $9.1M-69.7% |
| Depreciation & Amortization | $3.4M-14.8% | $3.5M+6.2% | $3.5M+8.8% | $3.5M+8.1% | $4.0M+31.9% | $3.3M+0.6% | $3.2M-5.0% | $3.2M-6.4% |
| Stock-Based Compensation | $1.8M-30.8% | $1.9M-1.8% | N/A | $910K+50.2% | $2.6M+7.0% | $1.9M-11.1% | N/A | $606K-77.3% |
| Capital Expenditures | $969K-29.7% | $1.1M-28.0% | $1.4M-40.9% | $1.4M-1.9% | $1.4M-28.9% | $1.5M-17.3% | $2.3M+141.5% | $1.4M-17.2% |
| Free Cash Flow | $728K+115.3% | -$836K-144.4% | -$6.6M+8.3% | $10.8M+39.9% | -$4.8M-142.7% | $1.9M-65.4% | -$7.2M-175.5% | $7.7M-72.8% |
| Investing Cash Flow | -$1.2M-109.2% | -$17.1M-734.1% | -$5.0M+74.5% | -$14.3M-701.4% | $13.4M+627.5% | -$2.1M+26.0% | -$19.4M-81.1% | -$1.8M+96.2% |
| Financing Cash Flow | -$83K-4050.0% | -$901K-60.0% | $1K+200.0% | $0+100.0% | -$2K+90.0% | -$563K+62.2% | -$1K+100.0% | -$3K+100.0% |
| Dividends Paid | $83K+8200.0% | $87K-55.2% | $0 | $0-100.0% | $1K-75.0% | $194K-72.7% | $0-100.0% | $1K-100.0% |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
MED Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9%-2.7pp | 68.1%-4.7pp | 69.4%-4.7pp | 69.5%-5.9pp | 72.6%-0.6pp | 72.8%-0.1pp | 74.1%+0.1pp | 75.4%+0.2pp |
| Operating Margin | -5.7%-4.7pp | -4.3%-3.2pp | -10.4%-11.0pp | -4.6%-6.1pp | -1.0%+3.7pp | -1.1%-5.6pp | 0.6%-4.0pp | 1.5%-9.3pp |
| Net Margin | -4.1%-6.4pp | -2.8%-2.1pp | -24.6%-25.2pp | -2.5%-3.3pp | 2.4%+7.2pp | -0.7%-5.4pp | 0.6%-2.3pp | 0.8%-9.0pp |
| Return on Equity | -1.6%-2.7pp | -1.1%-0.7pp | -9.3%-9.6pp | -1.1%-1.6pp | 1.1%+5.1pp | -0.4%-4.3pp | 0.3%-2.5pp | 0.5%-11.4pp |
| Return on Assets | -1.2%-2.1pp | -0.8%-0.6pp | -7.4%-7.7pp | -0.8%-1.2pp | 0.9%+3.7pp | -0.3%-3.0pp | 0.3%-1.6pp | 0.4%-6.8pp |
| Current Ratio | 4.86+0.4x | 4.80+1.3x | 4.69+1.4x | 4.45+1.3x | 4.47+1.5x | 3.52+0.7x | 3.34+0.9x | 3.11+1.1x |
| Debt-to-Equity | 0.33+0.1x | 0.28-0.1x | 0.25-0.1x | 0.25-0.2x | 0.25-0.2x | 0.33-0.1x | 0.35-0.2x | 0.40-0.3x |
| Asset Turnover | 0.29-0.1x | 0.30-0.1x | 0.30-0.1x | 0.33-0.1x | 0.39-0.2x | 0.41-0.2x | 0.42-0.2x | 0.48-0.3x |
| FCF Margin | 0.9%+5.5pp | -1.1%-2.7pp | -8.8%-2.8pp | 12.0%+6.5pp | -4.5%-11.1pp | 1.6%-1.5pp | -6.1%-11.1pp | 5.5%-6.5pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Medifast, Inc. MED | FY2025 | $385.8M | -$19.0M | -4.9% | $132.8M | 49/100 |
| Regis Corporation RGS | FY2026 | $224.5M | $6.9M | 3.1% | $73.0M | 36/100 |
| WW International, Inc. WW | FY2025 | N/A | $1.1B | N/A | $146.3M | — |
| Smart Share Global Limited American EM | FY2024 | $259.5M | -$1.9M | -0.7% | $303.1M | 32/100 |
| Carriage Services, Inc. CSV | FY2025 | $417.4M | $51.5M | 12.3% | $573.8M | 63/100 |
Where Medifast, Inc. Ranks
Frequently Asked Questions
What is Medifast, Inc.'s annual revenue?
Medifast, Inc. (MED) reported $385.8M in total revenue for fiscal year 2025. This represents a -36.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Medifast, Inc.'s revenue growing?
Medifast, Inc. (MED) revenue declined by 36.0% year-over-year, from $602.5M to $385.8M in fiscal year 2025.
Is Medifast, Inc. profitable?
No, Medifast, Inc. (MED) reported a net income of -$19.0M in fiscal year 2025, with a net profit margin of -4.9%.
What is Medifast, Inc.'s EBITDA?
Medifast, Inc. (MED) had EBITDA of $29K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Medifast, Inc.'s gross margin?
Medifast, Inc. (MED) had a gross margin of 71.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Medifast, Inc.'s operating margin?
Medifast, Inc. (MED) had an operating margin of -3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Medifast, Inc.'s net profit margin?
Medifast, Inc. (MED) had a net profit margin of -4.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Medifast, Inc.'s return on equity (ROE)?
Medifast, Inc. (MED) has a return on equity of -9.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Medifast, Inc.'s free cash flow?
Medifast, Inc. (MED) generated $1.2M in free cash flow during fiscal year 2025. This represents a -92.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Medifast, Inc.'s operating cash flow?
Medifast, Inc. (MED) generated $6.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Medifast, Inc.'s total assets?
Medifast, Inc. (MED) had $248.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Medifast, Inc.'s capital expenditures?
Medifast, Inc. (MED) invested $5.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Medifast, Inc. spend on research and development?
Medifast, Inc. (MED) invested $4.3M in research and development during fiscal year 2025.
What is Medifast, Inc.'s current ratio?
Medifast, Inc. (MED) had a current ratio of 4.69 as of fiscal year 2025, which is generally considered healthy.
What is Medifast, Inc.'s debt-to-equity ratio?
Medifast, Inc. (MED) had a debt-to-equity ratio of 0.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Medifast, Inc.'s return on assets (ROA)?
Medifast, Inc. (MED) had a return on assets of -7.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Medifast, Inc.'s P/E ratio?
Medifast, Inc. (MED) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $132.8M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Medifast, Inc.'s price-to-sales ratio?
Medifast, Inc. (MED) trades at 0.4x sales, its market capitalization divided by revenue of $316.9M revenue, trailing 12 months to June 30, 2026. The market capitalization is $132.8M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Medifast, Inc.'s Altman Z-Score?
Medifast, Inc. (MED) has an Altman Z-Score of 4.65, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Medifast, Inc.'s Piotroski F-Score?
Medifast, Inc. (MED) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Medifast, Inc.'s earnings high quality?
Medifast, Inc. (MED) reported a net loss of $19.0M while generating $6.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Medifast, Inc.?
Medifast, Inc. (MED) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.