Medifast Inc (MED) Financial Statements
Industry: Miscellaneous Food Preparations & Kindred Products
In fiscal 2025, Medifast reported revenue of $385.8M, down 36.0% from $602.5M the year before. Net income was -$18.7M (a -4.8% net margin), or -$1.70 per diluted share. Gross margin was 71.3% and operating margin was -3.7%. Operating activities generated $6.9M of cash, leaving $1.2M of free cash flow. At fiscal year end, Medifast held $248.0M in total assets against $49.1M in total liabilities, including $89.3M of cash and equivalents.
Open the full interactive Medifast financials → Quarterly statements, key ratios, valuation history and price charts.
Medifast Key Stats
| Share Price | $11.67 |
|---|---|
| Market Cap | $129.9M |
| Dividend Yield | 0.13% |
| Revenue YoY Growth | -36.0% |
| 52-Week Range | $9.45 – $13.27 |
| Shares Outstanding | 11.1 million (basic, 2026 Q2) |
Medifast Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $934.8M | $1.53B | $1.60B | $1.07B | $602.5M | $385.8M |
| Gross Profit | $697.8M | $1.13B | $1.14B | $775.9M | $444.6M | $275.2M |
| Operating Income | $134.2M | $216.2M | $184.8M | $126.4M | $2.9M | -$14.2M |
| Pre-Tax Income | $134.3M | $216.1M | $184.1M | $128.8M | $3.8M | -$5.6M |
| Income Tax | $31.4M | $52.1M | $40.5M | $29.4M | $1.7M | $13.0M |
| Net Income | $102.9M | $164.0M | $143.6M | $99.4M | $2.1M | -$18.7M |
| Diluted EPS | $8.68 | $13.89 | $12.73 | $9.10 | $0.19 | -$1.70 |
Medifast Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $89.4M | $75.1M | $76.0M | $76.4M |
| Net Income | -$2.3M | -$18.1M | -$2.1M | -$3.1M |
| Diluted EPS | -$0.21 | -$1.65 | -$0.19 | -$0.28 |
Medifast Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $163.7M | $104.2M | $87.7M | $94.4M | $90.9M | $89.3M |
| Current Assets | $234.3M | $306.9M | $222.8M | $224.0M | $214.4M | $201.7M |
| Total Assets | $276.1M | $398.3M | $316.2M | $309.9M | $284.2M | $248.0M |
| Current Liabilities | $111.3M | $169.8M | $140.9M | $92.3M | $64.2M | $43.0M |
| Total Liabilities | $118.8M | $195.9M | $161.2M | $108.4M | $74.1M | $49.1M |
| Shareholders' Equity | $157.2M | $202.5M | $155.0M | $201.5M | $210.1M | $198.9M |
Medifast Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $145.2M | $94.5M | $194.6M | $147.7M | $24.5M | $6.9M |
| Cash From Investing | -$1.3M | -$29.1M | -$11.4M | -$61.0M | -$26.5M | -$7.9M |
| Cash From Financing | -$57.1M | -$125.1M | -$199.6M | -$79.8M | -$1.5M | -$564,000 |
| Free Cash Flow | $139.3M | $60.3M | $177.9M | $141.2M | $17.0M | $1.2M |
| Dividends Paid | $53.2M | $63.9M | $71.6M | $73.0M | $715,000 | $195,000 |
Figures from Medifast's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Medifast financials page for every line item.
Medifast Company Profile
| Ticker | MED |
|---|---|
| Exchange | NYSE |
| Industry | Miscellaneous Food Preparations & Kindred Products |
| Headquarters | Baltimore, Maryland |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0000910329 |
Frequently Asked Questions
What was Medifast's revenue in fiscal 2025?
Medifast (MED) reported revenue of $385.8M for fiscal 2025.
What is Medifast's annual revenue history?
Medifast's annual revenue by fiscal year: 2020: $934.8M; 2021: $1.53B; 2022: $1.60B; 2023: $1.07B; 2024: $602.5M; 2025: $385.8M.
What was Medifast's net income in fiscal 2025?
Medifast reported net income of -$18.7M for fiscal 2025.
What was Medifast's earnings per share (EPS) in fiscal 2025?
Medifast's diluted EPS was -$1.70 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Medifast generate in fiscal 2025?
Medifast generated $1.2M of free cash flow in fiscal 2025.
What was Medifast's revenue last quarter?
In its most recent reported quarter (2026 Q2), Medifast reported revenue of $76.4M.
How many shares of Medifast are outstanding?
Medifast reported a weighted average of 11.1 million basic shares outstanding in 2026 Q2.
What is Medifast's market cap?
Based on its latest closing price, Medifast (MED) has a market capitalization of about $129.9M.
When does Medifast's fiscal year end?
Medifast's fiscal year end, as registered with the SEC, is December 31.
Where is Medifast headquartered?
Medifast lists its business address in Baltimore, Maryland in its SEC filings.
Medifast Competitors & Similar Companies
See all 4 Miscellaneous Food Preparations & Kindred Products companies →