MEDIFAST INC MED

Consumer staples SIC 2090 - Miscellaneous Food Preparations & Kindred Products NAICS Manufacturing › Food Manufacturing derived NYSE

Medifast, Inc. ("Medifast," the "Company," "we" or "us") is the 40+ year old health and wellness company known for its science-backed, coach-guided lifestyle system. As we enter 2026, the Company is moving from transformation to execution, leveraging its extensive experience in structured weight loss coupled with recent scientific research and enhanced product offerings to address the needs of a broader metabolic health market. Medifast's approach focuses on addressing the root cause of metabolic dysfunction. This strategic shift targets a larger and more sustainable market, focusing on a long-term growth strategy designed to guide the Company over the next decade by aligning science, products, and coaching with increasing demand for new solutions as awareness of metabolic dysfunction grows.

Last close 11.87 2026-10-23
Market cap $132.7M 2026-06-30 share count
52-week range 9.22 - 13.45

Valuation FY2025 figures against the last close

P/S0.3x
P/E—
P/FCF106.3x
EV/EBITDA4,576.4x
Dividend yield0.1%
Diluted EPS-1.70

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $385.8M$602.5M$1.07B$1.60B$1.53B$934.8M$713.7M$501.0M$301.6M$274.5M
Cost of revenue $110.6M$157.8M$296.2M$458.2M$398.5M$237.0M$176.8M$121.1M$73.8M$68.9M
Gross profit $275.2M$444.6M$775.9M$1.14B$1.13B$697.8M$536.9M$379.9M$227.8M$205.7M
R&D $4.3M$4.6M$4.6M$4.5M$4.4M$2.8M$2.7M$2.2M$1.5M$2.0M
SG&A $289.4M$441.7M$649.4M$955.6M$911.4M$563.7M$445.8M$310.8M$188.2M$178.8M
Operating income -$14.2M$2.9M$126.4M$184.8M$216.2M$134.2M$91.0M$69.1M$39.6M$26.9M
Pre-tax income -$5.6M$3.8M$128.8M$184.1M$216.1M$134.3M$92.4M$70.5M$40.3M$27.1M
Income tax $13.0M$1.7M$29.4M$40.5M$52.1M$31.4M$14.4M$14.8M$12.6M$9.3M
Net income -$19.0M$2.0M$99.0M$144.0M$164.0M$102.9M$77.9M$55.8M$27.7M$17.8M
EPS, basic -1.700.199.1312.8214.018.746.624.672.321.51
EPS, diluted -1.700.199.1012.7313.898.686.434.622.291.49
Shares, diluted (wtd. avg.) 11.0M11.0M10.9M11.3M11.8M11.8M12.1M12.1M12.1M11.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $89.3M$90.9M$94.4M$87.7M$104.2M$163.7M$77.0M$81.4M$75.1M$52.4M
Short-term investments $78.0M$71.4M$55.6M$0$5.4M$10.8M$15.7M$19.7M$23.8M$24.4M
Receivables —————$584.0K$1.4M$1.0M$576.0K$1.4M
Inventory $20.2M$42.4M$54.6M$118.9M$180.0M$53.4M$48.8M$38.9M$19.3M$18.3M
Total current assets $201.7M$214.4M$224.0M$222.8M$306.9M$234.3M$154.2M$145.5M$125.2M$101.3M
Property, plant and equipment $31.2M$37.5M$51.5M$57.2M$56.1M$27.6M$26.0M$19.7M$18.6M$19.8M
Total assets $248.0M$284.2M$309.9M$316.2M$398.3M$276.1M$194.7M$169.4M$145.9M$121.2M
Accounts payable $38.4M$56.5M$86.4M$134.7M$163.3M$107.7M$76.2M$60.3M$37.1M$24.3M
Total current liabilities $43.0M$64.2M$92.3M$140.9M$169.8M$111.3M$79.4M$60.3M$37.1M$24.4M
Total liabilities $49.1M$74.1M$108.4M$161.2M$195.9M$118.8M$89.8M$60.3M$37.3M$25.2M
Retained earnings $158.3M$176.8M$174.6M$139.9M$190.3M$154.4M$168.8M$131.3M$103.8M$93.5M
Total equity $198.9M$210.1M$201.5M$155.0M$202.5M$157.2M$104.8M$109.1M$106.6M$96.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $6.9M$24.5M$147.7M$194.6M$94.5M$145.2M$84.3M$60.8M$43.2M$25.4M
Depreciation and amortisation $14.2M$12.7M$13.1M$11.0M$6.8M$4.3M$4.6M$4.4M$4.2M$5.4M
Stock-based compensation $7.6M$7.4M$8.2M$11.1M$9.9M$6.8M$4.5M$3.1M$4.3M$3.4M
Capital expenditure $5.6M$7.5M$6.5M$16.7M$34.2M$5.9M$10.1M$4.9M$3.2M$2.9M
Investing cash flow -$7.9M-$26.5M-$61.0M-$11.4M-$29.1M-$1.3M-$6.3M-$1.2M-$3.2M-$2.0M
Financing cash flow -$564.0K-$1.5M-$79.8M-$199.6M-$125.1M-$57.1M-$82.3M-$53.3M-$17.4M-$12.9M
Dividends paid $195.0K$715.0K$73.0M$71.6M$63.9M$53.2M$35.4M$23.2M$15.4M$11.9M
Buybacks $0$0$3.6M$126.4M$56.0M$5.0M$33.1M$30.0M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-023890.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B 2B Revenue, FY2016: 274.5M Gross profit, FY2016: 205.7M Net income, FY2016: 17.8M Revenue, FY2017: 301.6M Gross profit, FY2017: 227.8M Net income, FY2017: 27.7M Revenue, FY2018: 501M Gross profit, FY2018: 379.9M Net income, FY2018: 55.8M Revenue, FY2019: 713.7M Gross profit, FY2019: 536.9M Net income, FY2019: 77.9M Revenue, FY2020: 934.8M Gross profit, FY2020: 697.8M Net income, FY2020: 102.9M Revenue, FY2021: 1.5B Gross profit, FY2021: 1.1B Net income, FY2021: 164M Revenue, FY2022: 1.6B Gross profit, FY2022: 1.1B Net income, FY2022: 144M Revenue, FY2023: 1.1B Gross profit, FY2023: 775.9M Net income, FY2023: 99M Revenue, FY2024: 602.5M Gross profit, FY2024: 444.6M Net income, FY2024: 2M Revenue, FY2025: 385.8M Gross profit, FY2025: 275.2M Net income, FY2025: -19M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $274.5M $301.6M $501.0M $713.7M $934.8M $1.53B $1.60B $1.07B $602.5M $385.8M
Gross profit $205.7M $227.8M $379.9M $536.9M $697.8M $1.13B $1.14B $775.9M $444.6M $275.2M
Net income $17.8M $27.7M $55.8M $77.9M $102.9M $164.0M $144.0M $99.0M $2.0M -$19.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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