What is Medifast's earnings per share (EPS)?

Medifast (MED) reported diluted earnings per share of -$1.70 for fiscal year 2025. This represents a -994.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Medifast Financials

MED

Trailing 12 months to June 30, 2026

Revenue $316.9M -34.0% YoY

Net Income -$25.9M -831.2% YoY

EPS (Diluted) -$2.33 -828.1% YoY

Free Cash Flow $4.0M +265.7% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 3, 2026 Currency USD FYE December

Medifast (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).

Rhea AI MED FY2025 2026-08-29

Stable gross margins could not absorb collapsing volume, leaving fixed operating costs as the dominant earnings mechanic.

Across the last three fiscal years, gross margin stayed broadly stable while operating margin moved from 11.8% to -3.7% as revenue contracted sharply. The divergence places the business problem below gross profit: selling and administrative costs did not flex down fast enough to protect operating earnings when volume weakened.

FY2025 paired a net loss of -$19M with positive operating cash flow of $6.9M, largely reflecting noncash costs and working-capital timing rather than robust underlying cash creation. After capex, free cash flow was only $1.2M, so cash generation was nearly fully consumed by reinvestment.

The balance sheet became materially less liability-heavy: total liabilities were $49.1M in FY2025 versus $108M in FY2023. Meanwhile, current ratio reached 4.7x from 2.4x, giving the shrinking operation more short-term asset coverage even as profitability weakened.

Financial Health Signals

Financial Health Score 50/100

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'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.

Profitability

Medifast has an operating margin of -3.7%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 38/100. This is down from 0.5% the prior year.

Growth

Medifast's revenue declined 36.0% year-over-year, from $602.5M to $385.8M. This contraction results in a growth score of 2/100.

Leverage

Medifast 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 71/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.69, Medifast holds $4.69 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.

Cash Flow

While Medifast 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 42/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Medifast 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 55/100. This is down from 0.9% the prior year.

Altman Z-Score Safe

4.68

Medifast scores 4.68, 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.

Piotroski F-Score Partial

3/8

Medifast 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.

Earnings Quality Mixed

N/A

Medifast 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

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Earnings & Revenue

Revenue

$385.8M

YoY-36.0%

5Y CAGR-16.2%

10Y CAGR+3.5%

Medifast generated $385.8M in revenue in fiscal year 2025. This represents a decrease of 36.0% from the prior year.

EBITDA

$29K

YoY-99.8%

5Y CAGR-81.6%

10Y CAGR-50.9%

Medifast's EBITDA was $29K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.8% from the prior year.

Net Income

-$19.0M

YoY-1050.0%

Medifast reported -$19.0M in net income in fiscal year 2025. This represents a decrease of 1050.0% from the prior year.

EPS (Diluted)

-$1.70

YoY-994.7%

Medifast earned -$1.70 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 994.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.2M

YoY-92.7%

5Y CAGR-61.0%

10Y CAGR-26.3%

Medifast generated $1.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 92.7% from the prior year.

Cash & Debt

$89.3M

YoY-1.8%

5Y CAGR-11.4%

10Y CAGR+7.8%

Medifast held $89.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

$0.00

Medifast paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

11M

YoY+0.5%

5Y CAGR-1.4%

10Y CAGR-0.7%

Medifast had 11M shares outstanding in fiscal year 2025. This represents an increase of 0.5% from the prior year.

Margins & Returns

Gross Margin

71.3%

YoY-2.5pp

5Y CAGR-3.3pp

10Y CAGR-2.5pp

Medifast's gross margin was 71.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.

Operating Margin

-3.7%

YoY-4.2pp

5Y CAGR-18.0pp

10Y CAGR-14.2pp

Medifast's operating margin was -3.7% in fiscal year 2025, reflecting core business profitability. This is down 4.2 percentage points from the prior year.

Net Margin

-4.9%

YoY-5.3pp

5Y CAGR-15.9pp

10Y CAGR-12.3pp

Medifast's net profit margin was -4.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.3 percentage points from the prior year.

Return on Equity

-9.6%

YoY-10.5pp

5Y CAGR-75.0pp

10Y CAGR-32.2pp

Medifast's ROE was -9.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$4.3M

YoY-6.5%

5Y CAGR+9.0%

10Y CAGR+9.1%

Medifast invested $4.3M in research and development in fiscal year 2025. This represents a decrease of 6.5% from the prior year.

Share Buybacks

Medifast repurchased no shares in fiscal year 2025.

Capital Expenditures

$5.6M

YoY-24.7%

5Y CAGR-0.9%

10Y CAGR+7.1%

Medifast invested $5.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 24.7% from the prior year.

MED Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MED quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$316.9M	$385.8M-36.0%	$602.5M-43.8%	$1.1B-32.9%	$1.6B+4.8%	$1.5B+63.2%	$934.8M+31.0%	$713.7M+42.4%	$501.0M+66.1%	$301.6M+9.8%	$274.5M+0.6%	$272.8M-4.4%	$285.3M-12.0%	$324.1M+1.7%	$318.6M+6.8%	$298.2M
Cost of Revenue	$97.5M	$110.6M-29.9%	$157.8M-46.7%	$296.2M-35.3%	$458.2M+15.0%	$398.5M+68.1%	$237.0M+34.1%	$176.8M+46.0%	$121.1M+64.2%	$73.8M+7.1%	$68.9M-3.6%	$71.5M-6.1%	$76.1M-8.9%	$83.5M+1.0%	$82.7M+12.2%	$73.7M
Gross Profit	$219.4M	$275.2M-38.1%	$444.6M-42.7%	$775.9M-32.0%	$1.1B+1.1%	$1.1B+61.6%	$697.8M+30.0%	$536.9M+41.3%	$379.9M+66.8%	$227.8M+10.8%	$205.7M+2.2%	$201.3M-3.8%	$209.2M-13.0%	$240.6M+2.0%	$235.9M+5.1%	$224.5M
R&D Expenses	N/A	$4.3M-6.5%	$4.6M0.0%	$4.6M+2.2%	$4.5M+2.3%	$4.4M+57.1%	$2.8M+3.7%	$2.7M+22.7%	$2.2M+46.7%	$1.5M-25.0%	$2.0M+11.1%	$1.8M+38.5%	$1.3M	N/A	N/A	N/A
SG&A Expenses	$239.0M	$289.4M-34.5%	$441.7M-32.0%	$649.4M-32.0%	$955.6M+4.9%	$911.4M+61.7%	$563.7M+26.4%	$445.8M+43.4%	$310.8M+65.2%	$188.2M+5.2%	$178.8M+3.6%	$172.6M-3.5%	$179.0M-11.5%	$202.2M-3.2%	$208.8M+5.9%	$197.1M
Operating Income	-$19.5M	-$14.2M-593.8%	$2.9M-97.7%	$126.4M-31.6%	$184.8M-14.5%	$216.2M+61.2%	$134.2M+47.4%	$91.0M+31.8%	$69.1M+74.3%	$39.6M+47.6%	$26.9M-6.4%	$28.7M-5.2%	$30.2M-21.3%	$38.4M+41.5%	$27.1M-0.9%	$27.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$12K-80.6%	$62K-39.2%	$102K
Income Tax	$11.6M	$13.0M+668.5%	$1.7M-94.2%	$29.4M-27.4%	$40.5M-22.3%	$52.1M+65.9%	$31.4M+117.4%	$14.4M-2.1%	$14.8M+17.1%	$12.6M+35.7%	$9.3M-8.1%	$10.1M-5.3%	$10.7M-10.4%	$11.9M+20.1%	$9.9M+8.5%	$9.1M
Net Income	-$25.9M	-$19.0M-1050.0%	$2.0M-98.0%	$99.0M-31.3%	$144.0M-12.2%	$164.0M+59.4%	$102.9M+32.0%	$77.9M+39.7%	$55.8M+101.3%	$27.7M+55.4%	$17.8M-11.1%	$20.1M+52.2%	$13.2M-45.0%	$24.0M+51.0%	$15.9M-14.4%	$18.5M
EPS (Diluted)	-$2.33	-$1.70-994.7%	$0.19-97.9%	$9.10-28.5%	$12.73-8.4%	$13.89+60.0%	$8.68+35.0%	$6.43+39.2%	$4.62+101.7%	$2.29+53.7%	$1.49-10.2%	$1.66+61.2%	$1.03-40.5%	$1.73+49.1%	$1.16-11.5%	$1.31

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$76.4M+0.4%	$76.0M+1.3%	$75.1M-16.0%	$89.4M-15.3%	$105.6M-8.8%	$115.7M-2.8%	$119.0M-15.1%	$140.2M
Cost of Revenue	$23.0M-5.4%	$24.3M+5.8%	$23.0M-15.8%	$27.3M-5.7%	$28.9M-8.2%	$31.5M+2.3%	$30.8M-10.7%	$34.5M
Gross Profit	$53.4M+3.2%	$51.8M-0.7%	$52.1M-16.1%	$62.2M-18.9%	$76.6M-9.0%	$84.2M-4.5%	$88.2M-16.5%	$105.7M
SG&A Expenses	$57.7M+4.9%	$55.1M-8.2%	$59.9M-9.5%	$66.2M-14.8%	$77.7M-9.1%	$85.5M-2.3%	$87.5M-15.5%	$103.6M
Operating Income	-$4.3M-31.3%	-$3.3M+57.8%	-$7.8M-91.2%	-$4.1M-282.8%	-$1.1M+15.5%	-$1.3M-278.2%	$708K-66.4%	$2.1M
Income Tax	$109K-39.8%	$181K-98.5%	$11.7M+3063.6%	-$396K-200.3%	$395K-69.6%	$1.3M+173.8%	$474K+5.6%	$449K
Net Income	-$3.1M-46.1%	-$2.1M+88.5%	-$18.4M-715.9%	-$2.3M-191.2%	$2.5M+421.2%	-$772K-208.9%	$709K-37.2%	$1.1M
EPS (Diluted)	-$0.28-47.4%	-$0.19+88.5%	-$1.65-685.7%	-$0.21-195.5%	$0.22+414.3%	-$0.07-200.0%	$0.07-30.0%	$0.10

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.

MED quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$248.0M-12.8%	$284.2M-8.3%	$309.9M-2.0%	$316.2M-20.6%	$398.3M+44.3%	$276.1M+41.8%	$194.7M+14.9%	$169.4M+16.1%	$145.9M+20.4%	$121.2M+4.4%	$116.1M+0.2%	$115.9M-12.6%	$132.7M+1.8%	$130.3M+23.3%	$105.7M
Current Assets	$201.7M-5.9%	$214.4M-4.3%	$224.0M+0.6%	$222.8M-27.4%	$306.9M+31.0%	$234.3M+52.0%	$154.2M+5.9%	$145.5M+16.2%	$125.2M+23.6%	$101.3M+16.6%	$86.9M+6.0%	$81.9M-10.9%	$92.0M+3.8%	$88.6M+38.4%	$64.0M
Cash & Equivalents	$89.3M-1.8%	$90.9M-3.7%	$94.4M+7.7%	$87.7M-15.8%	$104.2M-36.4%	$163.7M+112.7%	$77.0M-5.4%	$81.4M+8.4%	$75.1M+43.2%	$52.4M+24.7%	$42.0M+71.9%	$24.5M-32.8%	$36.4M-8.9%	$39.9M+180.0%	$14.3M
Inventory	$20.2M-52.3%	$42.4M-22.3%	$54.6M-54.1%	$118.9M-34.0%	$180.0M+237.2%	$53.4M+9.5%	$48.8M+25.4%	$38.9M+101.2%	$19.3M+5.6%	$18.3M+37.3%	$13.3M-15.3%	$15.7M-10.3%	$17.5M-15.7%	$20.8M+4.2%	$20.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$584K-59.4%	$1.4M+42.1%	$1.0M+75.5%	$576K-58.5%	$1.4M-15.1%	$1.6M-1.0%	$1.6M+75.2%	$942K-56.1%	$2.1M+45.4%	$1.5M
Total Liabilities	$49.1M-33.8%	$74.1M-31.7%	$108.4M-32.7%	$161.2M-17.7%	$195.9M+64.8%	$118.8M+32.3%	$89.8M+48.9%	$60.3M+61.5%	$37.3M+48.2%	$25.2M-8.5%	$27.5M-22.3%	$35.4M+3.5%	$34.2M-13.3%	$39.5M+22.3%	$32.3M
Current Liabilities	$43.0M-33.0%	$64.2M-30.5%	$92.3M-34.5%	$140.9M-17.0%	$169.8M+52.5%	$111.3M+40.3%	$79.4M+31.6%	$60.3M+62.4%	$37.1M+52.1%	$24.4M+3.6%	$23.6M-12.5%	$26.9M-0.6%	$27.1M-5.7%	$28.7M+41.9%	$20.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$3.1M-6.7%	$3.3M
Total Equity	$198.9M-5.3%	$210.1M+4.3%	$201.5M+30.0%	$155.0M-23.4%	$202.5M+28.8%	$157.2M+50.0%	$104.8M-3.9%	$109.1M+2.4%	$106.6M+11.0%	$96.0M+8.4%	$88.6M+10.1%	$80.5M-18.2%	$98.4M+8.4%	$90.8M+23.7%	$73.4M
Retained Earnings	$158.3M-10.5%	$176.8M+1.2%	$174.6M+24.9%	$139.9M-26.5%	$190.3M+23.3%	$154.4M-8.6%	$168.8M+28.5%	$131.3M+26.6%	$103.8M+11.0%	$93.5M+5.5%	$88.6M+12.3%	$78.9M-19.2%	$97.7M+27.7%	$76.5M+26.2%	$60.7M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$260.4M+3.3%	$252.0M+1.6%	$248.0M-7.5%	$268.2M-0.4%	$269.3M-3.8%	$280.0M-1.5%	$284.2M-2.4%	$291.2M
Current Assets	$202.0M-0.3%	$202.6M+0.5%	$201.7M-3.0%	$207.8M+0.7%	$206.4M-3.3%	$213.5M-0.4%	$214.4M-4.7%	$225.0M
Cash & Equivalents	$71.9M+0.5%	$71.5M-19.9%	$89.3M-10.3%	$99.5M-2.1%	$101.7M+10.9%	$91.7M+0.9%	$90.9M-21.1%	$115.3M
Inventory	$21.2M-1.0%	$21.4M+5.8%	$20.2M-12.8%	$23.2M-23.2%	$30.2M-23.3%	$39.4M-7.2%	$42.4M+5.8%	$40.1M
Total Liabilities	$64.0M+17.8%	$54.4M+10.8%	$49.1M-8.3%	$53.5M+0.3%	$53.3M-22.8%	$69.1M-6.8%	$74.1M-11.7%	$83.9M
Current Liabilities	$41.6M-1.5%	$42.2M-1.8%	$43.0M-8.0%	$46.7M+1.1%	$46.2M-23.8%	$60.6M-5.6%	$64.2M-11.4%	$72.4M
Total Equity	$196.4M-0.7%	$197.7M-0.6%	$198.9M-7.4%	$214.7M-0.6%	$216.0M+2.4%	$211.0M+0.4%	$210.1M+1.3%	$207.3M
Retained Earnings	$153.0M-2.0%	$156.1M-1.3%	$158.3M-10.2%	$176.2M-1.3%	$178.5M+1.4%	$176.0M-0.4%	$176.8M+0.5%	$176.0M

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.

MED quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$8.8M	$6.9M-72.0%	$24.5M-83.4%	$147.7M-24.1%	$194.6M+105.8%	$94.5M-34.9%	$145.2M+72.3%	$84.3M+38.6%	$60.8M+40.7%	$43.2M+70.6%	$25.4M-13.8%	$29.4M+15.2%	$25.5M-39.7%	$42.4M+5.2%	$40.3M+15.5%	$34.9M
Capital Expenditures	$4.8M	$5.6M-24.7%	$7.5M+15.0%	$6.5M-61.1%	$16.7M-51.2%	$34.2M+481.1%	$5.9M-41.5%	$10.1M+103.6%	$4.9M+52.4%	$3.2M+12.7%	$2.9M+2.0%	$2.8M-59.9%	$7.0M-38.3%	$11.4M+40.1%	$8.1M-43.1%	$14.3M
Free Cash Flow	$4.0M	$1.2M-92.7%	$17.0M-87.9%	$141.2M-20.6%	$177.9M+194.8%	$60.3M-56.7%	$139.3M+87.7%	$74.2M+32.8%	$55.9M+39.7%	$40.0M+78.0%	$22.5M-15.5%	$26.6M+43.6%	$18.5M-40.2%	$31.0M-3.6%	$32.1M+56.0%	$20.6M
Investing Cash Flow	-$37.6M	-$7.9M+70.1%	-$26.5M+56.6%	-$61.0M-434.8%	-$11.4M+60.7%	-$29.1M-2167.1%	-$1.3M+79.7%	-$6.3M-427.8%	-$1.2M+62.1%	-$3.2M-55.3%	-$2.0M-977.8%	-$189K+92.5%	-$2.5M+88.9%	-$22.6M-93.8%	-$11.7M+30.9%	-$16.9M
Financing Cash Flow	-$983K	-$564K+62.8%	-$1.5M+98.1%	-$79.8M+60.0%	-$199.6M-59.5%	-$125.1M-119.0%	-$57.1M+30.6%	-$82.3M-54.4%	-$53.3M-207.2%	-$17.4M-34.4%	-$12.9M-10.1%	-$11.7M+66.4%	-$34.9M-49.9%	-$23.3M-697.0%	-$2.9M+86.0%	-$20.9M
Dividends Paid	$170K	$195K-72.7%	$715K-99.0%	$73.0M+2.0%	$71.6M+12.2%	$63.9M+20.1%	$53.2M+50.3%	$35.4M+52.8%	$23.2M+50.5%	$15.4M+29.4%	$11.9M	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	$0-100.0%	$3.6M-97.2%	$126.4M+125.8%	$56.0M+1020.0%	$5.0M-84.9%	$33.1M+10.4%	$30.0M	N/A	N/A	$10.5M-69.0%	$33.9M+68.8%	$20.1M+626.5%	$2.8M-86.4%	$20.4M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$1.7M+552.7%	$260K+104.9%	-$5.3M-143.6%	$12.1M+458.6%	-$3.4M-199.2%	$3.4M+168.8%	-$4.9M-154.5%	$9.1M
Capital Expenditures	$969K-11.6%	$1.1M-18.9%	$1.4M-0.9%	$1.4M-1.1%	$1.4M-9.5%	$1.5M-33.4%	$2.3M+64.4%	$1.4M
Free Cash Flow	$728K+187.1%	-$836K+87.4%	-$6.6M-161.7%	$10.8M+326.0%	-$4.8M-352.4%	$1.9M+126.1%	-$7.2M-194.1%	$7.7M
Investing Cash Flow	-$1.2M+92.8%	-$17.1M-246.1%	-$5.0M+65.3%	-$14.3M-206.9%	$13.4M+750.3%	-$2.1M+89.4%	-$19.4M-990.4%	-$1.8M
Financing Cash Flow	-$83K+90.8%	-$901K-90200.0%	$1K	$0+100.0%	-$2K+99.6%	-$563K-56200.0%	-$1K+66.7%	-$3K
Dividends Paid	$83K-4.6%	$87K	$0	$0-100.0%	$1K-99.5%	$194K	$0-100.0%	$1K
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.

MED quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	71.3%-2.5pp	73.8%+1.4pp	72.4%+1.0pp	71.3%-2.5pp	73.9%-0.8pp	74.7%-0.6pp	75.2%-0.6pp	75.8%+0.3pp	75.5%+0.6pp	74.9%+1.1pp	73.8%+0.5pp	73.3%-0.9pp	74.2%+0.2pp	74.1%-1.2pp	75.3%
Operating Margin	-3.7%-4.2pp	0.5%-11.3pp	11.8%+0.2pp	11.6%-2.6pp	14.2%-0.2pp	14.3%+1.6pp	12.8%-1.0pp	13.8%+0.6pp	13.1%+3.4pp	9.8%-0.7pp	10.5%-0.1pp	10.6%-1.2pp	11.8%+3.3pp	8.5%-0.7pp	9.2%
Net Margin	-4.9%-5.3pp	0.3%-8.9pp	9.2%+0.2pp	9.0%-1.7pp	10.8%-0.3pp	11.0%+0.1pp	10.9%-0.2pp	11.1%+2.0pp	9.2%+2.7pp	6.5%-0.8pp	7.3%+2.7pp	4.6%-2.8pp	7.4%+2.4pp	5.0%-1.2pp	6.2%
Return on Equity	-9.6%-10.5pp	0.9%-48.2pp	49.1%-43.7pp	92.9%+11.9pp	81.0%+15.6pp	65.4%-8.9pp	74.3%+23.2pp	51.1%+25.1pp	26.0%+7.4pp	18.6%-4.1pp	22.6%+6.3pp	16.4%-8.0pp	24.3%+6.9pp	17.5%-7.8pp	25.3%
Return on Assets	-7.7%-8.4pp	0.7%-31.2pp	31.9%-13.6pp	45.5%+4.4pp	41.2%+3.9pp	37.3%-2.8pp	40.0%+7.1pp	32.9%+13.9pp	19.0%+4.3pp	14.7%-2.6pp	17.3%+5.9pp	11.4%-6.7pp	18.1%+5.9pp	12.2%-5.4pp	17.5%
Current Ratio	4.69+1.4x	3.34+0.9x	2.43+0.8x	1.58-0.2x	1.81-0.3x	2.10+0.2x	1.94-0.5x	2.41-1.0x	3.37-0.8x	4.15+0.5x	3.69+0.6x	3.04-0.4x	3.39+0.3x	3.08-0.1x	3.16
Debt-to-Equity	0.25-0.1x	0.35-0.2x	0.54-0.5x	1.04+0.1x	0.97+0.2x	0.76-0.1x	0.86+0.3x	0.55+0.2x	0.35+0.1x	0.260.0x	0.31-0.1x	0.44+0.4x	0.000.0x	0.030.0x	0.05
FCF Margin	0.3%-2.5pp	2.8%-10.3pp	13.2%+2.0pp	11.1%+7.2pp	4.0%-10.9pp	14.9%+4.5pp	10.4%-0.8pp	11.2%-2.1pp	13.3%+5.1pp	8.2%-1.6pp	9.8%+3.3pp	6.5%-3.1pp	9.6%-0.5pp	10.1%+3.2pp	6.9%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	69.9%+1.8pp	68.1%-1.4pp	69.4%-0.1pp	69.5%-3.1pp	72.6%-0.2pp	72.8%-1.3pp	74.1%-1.3pp	75.4%
Operating Margin	-5.7%-1.3pp	-4.3%+6.1pp	-10.4%-5.8pp	-4.6%-3.6pp	-1.0%+0.1pp	-1.1%-1.7pp	0.6%-0.9pp	1.5%
Net Margin	-4.1%-1.3pp	-2.8%+21.8pp	-24.6%-22.0pp	-2.5%-4.9pp	2.4%+3.0pp	-0.7%-1.3pp	0.6%-0.2pp	0.8%
Return on Equity	-1.6%-0.5pp	-1.1%+8.2pp	-9.3%-8.2pp	-1.1%-2.2pp	1.1%+1.5pp	-0.4%-0.7pp	0.3%-0.2pp	0.5%
Return on Assets	-1.2%-0.4pp	-0.8%+6.6pp	-7.4%-6.6pp	-0.8%-1.8pp	0.9%+1.2pp	-0.3%-0.5pp	0.3%-0.1pp	0.4%
Current Ratio	4.86+0.1x	4.80+0.1x	4.69+0.2x	4.450.0x	4.47+0.9x	3.52+0.2x	3.34+0.2x	3.11
Debt-to-Equity	0.33+0.1x	0.280.0x	0.250.0x	0.250.0x	0.25-0.1x	0.330.0x	0.35-0.1x	0.40
FCF Margin	0.9%+2.0pp	-1.1%+7.7pp	-8.8%-20.9pp	12.0%+16.5pp	-4.5%-6.1pp	1.6%+7.7pp	-6.1%-11.6pp	5.5%

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Where Medifast Ranks

Frequently Asked Questions

What is Medifast's annual revenue?

Medifast (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's revenue growing?

Medifast (MED) revenue declined by 36.0% year-over-year, from $602.5M to $385.8M in fiscal year 2025.

Is Medifast profitable?

No, Medifast (MED) reported a net income of -$19.0M in fiscal year 2025, with a net profit margin of -4.9%.

What is Medifast's EBITDA?

Medifast (MED) had EBITDA of $29K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Medifast's gross margin?

Medifast (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's operating margin?

Medifast (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's net profit margin?

Medifast (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's return on equity (ROE)?

Medifast (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's free cash flow?

Medifast (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's operating cash flow?

Medifast (MED) generated $6.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Medifast's total assets?

Medifast (MED) had $248.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Medifast's capital expenditures?

Medifast (MED) invested $5.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Medifast spend on research and development?

Medifast (MED) invested $4.3M in research and development during fiscal year 2025.

How many shares does Medifast have outstanding?

Medifast (MED) had 11M shares outstanding as of fiscal year 2025.

What is Medifast's current ratio?

Medifast (MED) had a current ratio of 4.69 as of fiscal year 2025, which is generally considered healthy.

What is Medifast's debt-to-equity ratio?

Medifast (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's return on assets (ROA)?

Medifast (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's Altman Z-Score?

Medifast (MED) has an Altman Z-Score of 4.68, 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's Piotroski F-Score?

Medifast (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's earnings high quality?

Medifast (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?

Medifast (MED) scores 50 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.