Montrose Environmental Group, Inc. (MEG) Financial Statements
Industry: Management Consulting Services (Services)
In fiscal 2025, Montrose Environmental reported revenue of $830.5M, up 19.3% from $696.4M the year before. Net income was -$843,000 (a -0.1% net margin), or -$0.14 per diluted share. Gross margin was 40.3% and operating margin was 1.4%. Operating activities generated $107.5M of cash, leaving $91.2M of free cash flow. At fiscal year end, Montrose Environmental held $981.3M in total assets against $530.1M in total liabilities, including $11.2M of cash and equivalents.
Open the full interactive Montrose Environmental financials → Quarterly statements, key ratios, valuation history and price charts.
Montrose Environmental Key Stats
| Share Price | $13.28 |
|---|---|
| Market Cap | $514.1M |
| Dividend Yield | 0.27% |
| Revenue YoY Growth | +19.3% |
| 52-Week Range | $12.71 – $29.93 |
| Shares Outstanding | 35.8 million (basic, 2026 Q2) |
Montrose Environmental Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $328.2M | $546.4M | $544.4M | $624.2M | $696.4M | $830.5M |
| Gross Profit | $112.8M | $177.4M | $192.5M | $240.3M | $278.2M | $334.3M |
| Operating Income | -$23.0M | -$9.5M | -$28.0M | -$28.4M | -$36.7M | $11.7M |
| Pre-Tax Income | -$57.1M | -$23.6M | -$29.6M | -$31.8M | -$54.3M | $11.2M |
| Income Tax | $851,000 | $1.7M | $2.2M | -$980,000 | $8.0M | $12.1M |
| Net Income | -$57.9M | -$25.3M | -$31.8M | -$30.9M | -$62.3M | -$843,000 |
| Diluted EPS | -$0.13 | -$1.56 | -$1.62 | -$1.57 | -$2.22 | -$0.14 |
Montrose Environmental Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $224.9M | $193.3M | $168.5M | $186.7M |
| Net Income | $8.4M | -$8.2M | -$12.7M | $1.4M |
| Diluted EPS | $0.21 | -$0.23 | -$0.35 | $0.04 |
Montrose Environmental Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $34.4M | $146.3M | — | $23.2M | $12.9M | $11.2M |
| Current Assets | $134.3M | $293.9M | $247.9M | $200.9M | $238.0M | $240.4M |
| Total Assets | $602.7M | $833.1M | $791.9M | $816.8M | $990.4M | $981.3M |
| Current Liabilities | $111.5M | $147.7M | $111.4M | $126.3M | $158.7M | $168.0M |
| Total Long-Term Debt | $175.9M | $172.8M | $164.5M | $163.2M | $222.7M | $288.3M |
| Total Liabilities | $312.7M | $363.7M | $325.8M | $342.6M | $451.2M | $530.1M |
| Shareholders' Equity | $137.1M | $316.5M | $313.2M | $321.3M | $446.3M | $451.2M |
Montrose Environmental Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.9M | $37.6M | $20.6M | $56.0M | $22.2M | $107.5M |
| Cash From Investing | -$179.7M | -$71.6M | -$38.7M | -$101.6M | -$138.0M | -$15.8M |
| Cash From Financing | $205.9M | $146.1M | -$38.8M | -$20.1M | $106.0M | -$93.1M |
| Free Cash Flow | -$5.4M | $30.7M | $10.6M | $26.4M | $902,000 | $91.2M |
| Dividends Paid | $7.0M | $16.4M | $16.4M | $16.4M | $11.1M | $4.2M |
Figures from Montrose Environmental'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 Montrose Environmental financials page for every line item.
Montrose Environmental Company Profile
| Ticker | MEG |
|---|---|
| Exchange | NYSE |
| Industry | Management Consulting Services (Services) |
| Headquarters | Irvine, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001643615 |
Frequently Asked Questions
What was Montrose Environmental's revenue in fiscal 2025?
Montrose Environmental (MEG) reported revenue of $830.5M for fiscal 2025.
What is Montrose Environmental's annual revenue history?
Montrose Environmental's annual revenue by fiscal year: 2020: $328.2M; 2021: $546.4M; 2022: $544.4M; 2023: $624.2M; 2024: $696.4M; 2025: $830.5M.
What was Montrose Environmental's net income in fiscal 2025?
Montrose Environmental reported net income of -$843,000 for fiscal 2025.
What was Montrose Environmental's earnings per share (EPS) in fiscal 2025?
Montrose Environmental's diluted EPS was -$0.14 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Montrose Environmental generate in fiscal 2025?
Montrose Environmental generated $91.2M of free cash flow in fiscal 2025.
What was Montrose Environmental's revenue last quarter?
In its most recent reported quarter (2026 Q2), Montrose Environmental reported revenue of $186.7M.
How much debt does Montrose Environmental have?
Montrose Environmental reported $288.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Montrose Environmental are outstanding?
Montrose Environmental reported a weighted average of 35.8 million basic shares outstanding in 2026 Q2.
What is Montrose Environmental's market cap?
Based on its latest closing price, Montrose Environmental (MEG) has a market capitalization of about $514.1M.
When does Montrose Environmental's fiscal year end?
Montrose Environmental's fiscal year end, as registered with the SEC, is December 31.
Where is Montrose Environmental headquartered?
Montrose Environmental lists its business address in Irvine, California in its SEC filings.
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