Moelis & Company (MC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.61	$0.63	+3.3%	—	$409.4M	—
Q1 26	$0.53	$0.5	-5.7%	—	$319.8M	—
Q4 25	$0.83	$1.13	+36.1%	—	$487.9M	—
Q3 25	$0.6	$0.68	+13.3%	—	$356.9M	—
Q2 25	$0.39	$0.53	+35.9%	—	$365.4M	—
Q1 25	$0.55	$0.64	+16.4%	—	$306.6M	—
Q4 24	$0.49	$1.18	+140.8%	—	$438.7M	—
Q3 24	$0.19	$0.22	+15.8%	—	$273.8M	—
Q2 24	$0.1	$0.18	+80.0%	—	$264.6M	—
Q1 24	$0.14	$0.22	+57.1%	—	$217.5M	—
Q4 23	-$0.11	-$0.06	+45.5%	—	$214.9M	—
Q3 23	$0.03	-$0.15	-600.0%	—	$272.2M	—
Q2 23	-$0.01	-$0.04	-300.0%	—	$179.9M	—
Q1 23	$0.1	$0.05	-50.0%	—	$187.8M	—
Q4 22	$0.34	$0.33	-2.9%	—	$207.2M	—
Q3 22	$0.35	$0.37	+5.7%	—	$233.5M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.11	—	—	$1.5B	—
FY24	—	$1.89	—	—	$1.2B	—
FY23	—	-$0.36	—	—	$854.7M	—
FY22	—	$2.29	—	—	$985.3M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$613.4M	$684.6M	$885.8M	$746.5M	$943.3M	$1.5B	$985.3M	$854.7M	$1.2B	$1.5B
YoY change	+11.1%	+11.6%	+29.4%	-15.7%	+26.4%	+63.3%	-36%	-13.2%	+39.8%	+27%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	613.4M	684.6M	885.8M	746.5M	943.3M	1.5B	985.3M	854.7M	1.2B	1.5B
Cost of revenue	360.9M	401.4M	513.9M	488.4M	560.8M	913.9M	618.2M	714.7M	830.2M	1B
Gross profit	252.5M	283.2M	372M	258.1M	382.5M	626.7M	367.1M	140M	364.4M	499.7M
Gross margin	41.2%	41.4%	42%	34.6%	40.5%	40.7%	37.3%	16.4%	30.5%	32.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	53.3M	62.2M	74M	71M	80.6M	83.7M	84.5M	107.4M	107.5M	121.8M
Operating expenses	88.2M	115.4M	140.6M	138.6M	112.1M	123.5M	143M	172M	181M	214M
Operating income	161.1M	164.3M	226.8M	114.5M	265.7M	495.9M	216.1M	-40.4M	172.9M	273.9M
Operating margin	26.3%	24%	25.6%	15.3%	28.2%	32.2%	21.9%	-4.72%	14.5%	18.1%
Non-operating income, net	5.6M	186.1M	11.7M	33M	4.4M	40.4M	220K	11.2M	23.1M	53.6M
Pretax income	166.7M	350.4M	238.5M	147.5M	270.1M	536.3M	216.3M	-29.1M	196M	327.5M
Income tax	24.8M	223.8M	30.4M	11.8M	51.7M	113.3M	47.6M	-1.6M	44.5M	67.9M
Net income	141.9M	126.5M	208M	135.7M	218.4M	423M	168.7M	-27.5M	151.5M	259.6M
Net margin	23.1%	18.5%	23.5%	18.2%	23.2%	27.5%	17.1%	-3.22%	12.7%	17.1%
EBITDA	164.3M	167.8M	231.4M	119.5M	270.4M	503.2M	224.1M	-32M	183.4M	285.7M
EPS	1.83	0.96	3.26	2.09	3.16	5.79	2.29	-0.36	1.89	3.11
Diluted EPS	1.58	0.78	2.78	1.89	2.95	5.34	2.14	-0.36	1.78	2.94

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	272.2M	214.9M	217.5M	264.6M	273.8M	438.7M	306.6M	365.4M	356.9M	487.9M	319.8M	409.4M
Cost of revenue	242.2M	178.5M	164.5M	197.9M	210.7M	257.1M	211.5M	252.1M	255.4M	298M	210.4M	269.4M
Gross profit	29.9M	36.4M	53M	66.7M	63.1M	181.6M	95M	113.3M	101.5M	189.9M	109.4M	140M
Gross margin	11%	16.9%	24.4%	25.2%	23%	41.4%	31%	31%	28.4%	38.9%	34.2%	34.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	32.4M	28.4M	25.5M	25M	28.7M	28.3M	28.4M	30M	28.4M	35M	32.7M	34.9M
Operating expenses	48M	43.4M	44.8M	44.2M	44.7M	47.2M	55.4M	49.9M	50.2M	58.6M	65.4M	63M
Operating income	-20M	-9.3M	5.8M	20.1M	15.6M	131.5M	36.9M	60.6M	48.3M	128M	40.5M	72.8M
Operating margin	-7.36%	-4.35%	2.67%	7.58%	5.69%	30%	12%	16.6%	13.5%	26.2%	12.7%	17.8%
Non-operating income, net	9.9M	5.1M	4.2M	1.7M	11.1M	6M	6.1M	3.5M	34M	10M	5.7M	2.5M
Pretax income	-10.1M	-4.2M	10M	21.8M	26.7M	137.5M	43.1M	64.1M	82.3M	138M	46.2M	75.3M
Income tax	1.3M	2.3M	-7.5M	6.9M	7.4M	37.7M	-10.7M	17.4M	22.2M	39M	3.9M	20.2M
Net income	-11.4M	-6.5M	17.5M	14.9M	19.2M	99.8M	53.8M	46.8M	60.1M	99M	42.3M	55.1M
Net margin	-4.18%	-3.01%	8.04%	5.64%	7.03%	22.8%	17.5%	12.8%	16.8%	20.3%	13.2%	13.5%
EBITDA	-18M	-7.1M	8.2M	22.5M	18.4M	134.3M	39.7M	63.4M	51.3M	131.4M	44M	77M
EPS	-0.16	-0.08	0.24	0.18	0.23	1.23	0.68	0.55	0.71	1.17	0.51	0.64
Diluted EPS	-0.16	-0.08	0.22	0.17	0.22	1.15	0.64	0.53	0.67	1.1	0.48	0.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	709.7M	—	—	—	—	—	2.5B	3.8B	5.3B	5.2B	4.3B
Enterprise value	390.7M	—	—	—	—	—	2.5B	3.9B	5.1B	4.9B	4.5B
Shares outstanding	20.9M	30.6M	43.2M	50.4M	56.6M	63.1M	65.8M	68.5M	71.9M	75M	75M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	5	—	—	—	—	—	15	—	35.1	19.9	20
P/S	1.16	—	—	—	—	—	2.56	4.5	4.45	3.4	2.7
P/B	2.82	—	—	—	—	—	5.5	10.6	11.1	7.58	8.42
EV/EBITDA	2.38	—	—	—	—	—	11.2	-120.9	27.9	17.2	15.9
EV/Sales	0.64	—	—	—	—	—	2.55	4.53	4.29	3.24	2.89
Earnings yield	20%	—	—	—	—	—	6.68%	—	2.85%	5.03%	4.99%
FCF yield	32.2%	—	—	—	—	—	1.07%	3.69%	7.82%	10.5%	5.41%
PEG	—	—	—	—	—	—	—	—	—	—	1.22

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	41.2%	41.4%	42%	34.6%	40.5%	40.7%	37.3%	16.4%	30.5%	32.9%	34.2%
Operating margin	26.3%	24%	25.6%	15.3%	28.2%	32.2%	21.9%	-4.72%	14.5%	18.1%	17.8%
Net margin	23.1%	18.5%	23.5%	18.2%	23.2%	27.5%	17.1%	-3.22%	12.7%	17.1%	14.5%
ROE	56.4%	36.8%	56%	34.5%	49.1%	88.4%	36.8%	-7.59%	31.6%	38.2%	41.5%
ROA	23.7%	18.1%	22.7%	12.7%	18.3%	27.2%	13.9%	-2.33%	11%	14.9%	18.7%
ROIC	-203.2%	45.3%	178.8%	24.9%	49%	260.8%	37.9%	-10.3%	46.1%	49.5%	31.2%
Return on tangible assets	23.7%	18.1%	22.7%	12.7%	18.3%	27.2%	13.9%	-2.33%	11%	14.9%	18.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.04	0.8	0.61	0.47	0.55	0.67	0.47	0.42	0.72	0.78	1.17
Quick ratio	1.04	0.8	0.61	0.47	0.55	0.67	0.47	0.42	0.72	0.78	0.64
Debt / equity	—	—	0	0.5	0.44	0.4	0.42	0.6	0.47	0.39	0.41
Debt / assets	—	—	0	0.18	0.16	0.12	0.16	0.18	0.16	0.15	0.19
Net debt / EBITDA	—	—	-1.13	0.25	-0.02	-0.65	-0.06	-0.91	-1.03	-0.84	0.18
Effective tax rate	14.9%	63.9%	12.8%	8.01%	19.1%	21.1%	22%	0%	22.7%	20.7%	24.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	29.3	22.4	20.5	14.8	16.7	24.4	15	12.5	16.6	20.2	21.2
EPS (basic)	1.83	0.96	3.26	2.09	3.16	5.79	2.29	-0.36	1.89	3.11	3.11
EPS (diluted)	1.58	0.78	2.78	1.89	2.95	5.34	2.14	-0.36	1.78	2.94	2.87
Book value per share	12	11.3	8.6	7.82	7.86	7.58	6.98	5.29	6.67	9.07	6.83
FCF per share	10.9	7.44	8.88	4.03	6.87	14.6	0.41	2.07	5.78	7.2	5.49
Cash per share	15.2	6.97	6.04	3.33	3.58	8.24	3.14	2.72	5.74	6.78	2.8
Capex per share	0.14	0.18	0.16	0.13	0.72	0.26	0.09	0.24	0.17	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.47%	0.82%	0.78%	0.87%	4.31%	1.07%	0.6%	1.95%	1.01%	—	—
Capex / operating cash flow	1.23%	2.13%	1.78%	2.85%	9.6%	2.52%	2%	12.5%	3.56%	—	—
Payout ratio	109%	202.1%	150.9%	154.2%	129.5%	113.5%	103.5%	-662%	121.6%	80.4%	90.6%
Dividend yield	21.8%	—	—	—	—	—	6.92%	4.74%	3.47%	4.05%	4.48%

Yield

4.48%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.65

ex-dividend Aug 10, 2026

Payout ratio

91%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.65
May 11, 2026	$0.65
Feb 17, 2026	$0.65
Nov 10, 2025	$0.65
Aug 4, 2025	$0.65

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$272.2M	$214.9M	$217.5M	$264.6M	$273.8M	$438.7M	$306.6M	$365.4M	$356.9M	$487.9M	$319.8M	$409.4M
YoY change	+16.6%	+3.71%	+15.8%	+47.1%	+0.58%	+104.2%	+41%	+38.1%	+30.4%	+11.2%	+4.3%	+12%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	318.9M	213.2M	261.1M	167.8M	202.5M	520.2M	206.8M	186.4M	412.5M	508.6M
Receivables	23.2M	56.7M	54.4M	45.1M	89.3M	41.9M	47.8M	51.2M	51.4M	82.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	350M	275.5M	330.4M	224.4M	304.5M	590.6M	263.9M	250.8M	486.9M	620.3M
Property, plant & equipment	8.4M	10.5M	12.7M	204.8M	227M	223.2M	209.5M	235.8M	245.8M	306.7M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	598.8M	699.1M	914.4M	1.1B	1.2B	1.6B	1.2B	1.2B	1.4B	1.7B
Accounts payable	14.3M	18.3M	26.6M	16.1M	25M	69.9M	11.9M	32.6M	33.6M	43.6M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	337.9M	345.6M	542.6M	480.2M	555.4M	885.5M	565.2M	601.6M	676.3M	793.2M
Long-term debt	—	—	0	197.6M	196.6M	191.9M	192.8M	215.7M	223.2M	267.2M
Total liabilities	347.4M	354.8M	542.6M	677.9M	752M	1.1B	757.9M	817.3M	899.6M	1.1B
Shareholders' equity	251.4M	344.3M	371.8M	393.8M	444.5M	478.3M	458.9M	362.5M	479.4M	680.4M
Total debt	—	—	0	197.6M	196.6M	191.9M	192.8M	215.7M	223.2M	267.2M
Net debt	—	—	-261.1M	29.8M	-5.9M	-328.3M	-14M	29.3M	-189.2M	-241.4M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	147.5M	186.4M	102.6M	150.4M	145.3M	412.5M	184.5M	221.7M	281.6M	508.6M	152.9M	207.7M
Receivables	25.5M	51.2M	50M	51.6M	57.8M	51.4M	55.5M	56.5M	55.2M	82.2M	97.9M	66.9M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	194.8M	250.8M	188.5M	225.8M	234.1M	486.9M	278.7M	325.3M	381.7M	620.3M	279M	320.5M
Property, plant & equipment	237.6M	235.8M	234.8M	231.9M	234.2M	245.8M	242.4M	242.3M	307.4M	306.7M	314.5M	319.7M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	1.1B	1.2B	1B	1.1B	1.2B	1.4B	1.2B	1.3B	1.5B	1.7B	1.3B	1.4B
Accounts payable	27.9M	32.6M	43.4M	25.1M	27.8M	33.6M	47.9M	32.5M	34.9M	43.6M	57.9M	31.3M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	523.5M	601.6M	407.9M	457.2M	546.5M	676.3M	420.4M	527.7M	630.9M	793.2M	399.8M	503.8M
Long-term debt	216.9M	215.7M	211.8M	209.2M	211.4M	223.2M	220.1M	218.8M	267.7M	267.2M	267.2M	262.8M
Total liabilities	740.4M	817.3M	619.7M	666.4M	758M	899.6M	640.5M	746.5M	898.6M	1.1B	667M	766.6M
Shareholders' equity	380.1M	362.5M	392.8M	384.5M	395.1M	479.4M	566M	596M	618.6M	680.4M	622.2M	641.6M
Total debt	216.9M	215.7M	211.8M	209.2M	211.4M	223.2M	220.1M	218.8M	267.7M	267.2M	267.2M	262.8M
Net debt	69.4M	29.3M	109.2M	58.8M	66.1M	-189.2M	35.5M	-2.9M	-13.8M	-241.4M	114.2M	55M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	141.9M	126.5M	208M	135.7M	218.4M	423M	168.7M	-27.5M	151.5M	259.6M
Depreciation & amortization	3.2M	3.5M	4.6M	5M	4.7M	7.2M	8M	8.3M	10.4M	11.9M
Stock-based compensation	77M	96.3M	123M	124.2M	133.6M	167.9M	128.9M	158.2M	161.4M	230.3M
Change in working capital	10.4M	-16.3M	49.4M	-34.2M	30.2M	67.4M	-43.9M	10.7M	-4.9M	-28.6M
Operating cash flow	233.6M	265.7M	387.7M	227M	423.5M	652.1M	297.7M	134.1M	340.1M	576.3M
Capital expenditure	-2.9M	-5.6M	-6.9M	-6.5M	-40.7M	-16.4M	-6M	-16.7M	-12.1M	—
Investing cash flow	1.4M	-69.4M	9.3M	-51.9M	-40M	-17M	-11.2M	48.6M	17.1M	-159.6M
Dividends paid	-154.7M	-255.7M	-313.8M	-209.2M	-282.9M	-480M	-174.7M	-182.2M	-184.2M	-208.7M
Share repurchases	-3.3M	-12.5M	-33.8M	-51.2M	-44.3M	-104.2M	-147.5M	-47M	-10.8M	-74.6M
Financing cash flow	-157.9M	-278.6M	-358.6M	-274.2M	-363.7M	-602.5M	-326.9M	-229.2M	-215.1M	-283.9M
Net change in cash	77.1M	-82.3M	38.4M	-99M	19.8M	32.6M	-40.4M	-46.5M	142.1M	132.8M
Free cash flow	228.7M	227.5M	384M	202.8M	388.6M	920.6M	27M	141.8M	415.4M	540M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-11.4M	-6.5M	17.5M	14.9M	19.2M	99.8M	53.8M	46.8M	60.1M	99M	42.3M	55.1M
Depreciation & amortization	2M	2.3M	2.4M	2.4M	2.8M	2.8M	2.8M	2.8M	3M	3.4M	3.5M	4.2M
Stock-based compensation	32M	33M	60M	26M	36.8M	38.7M	86.2M	41.6M	40.2M	62.3M	72.2M	45.5M
Change in working capital	-51.4M	52.3M	-29.3M	-886K	-39M	64.3M	-17.4M	-26M	-49.9M	64.7M	-27.9M	-11.4M
Operating cash flow	-35.3M	80.1M	43M	48.6M	18.7M	229.9M	113.4M	204.2M	198.9M	338.7M	-278.8M	229.5M
Capital expenditure	-4.7M	-5.3M	-5.4M	-2.3M	-2.1M	-2.3M	-3.1M	—	—	—	—	—
Investing cash flow	-108M	-15.4M	129.4M	-20.6M	-112.3M	3.7M	-7M	-101.3M	-83.8M	-571K	140.4M	-78.4M
Dividends paid	-44.5M	-44.7M	-39.3M	-51.5M	-47.6M	-45.9M	-45.1M	-59.1M	-51.4M	-53.1M	-54.9M	-57.8M
Share repurchases	-763K	-1.5M	-8.4M	-332K	-1M	-1.1M	-11.6M	-1.6M	-15.2M	-46.1M	-117.3M	-23.5M
Financing cash flow	-45.3M	-46.2M	-47.7M	-51.8M	-48.6M	-47M	-56.7M	-60.8M	-66.6M	-99.5M	-204.4M	-81.3M
Net change in cash	-188.7M	18.5M	124.7M	-23.9M	-142.2M	186.6M	49.7M	42.1M	48.5M	238.7M	-342.8M	69.8M
Free cash flow	135.4M	94.1M	-170.4M	137.6M	135.1M	313M	-168.6M	199.4M	179.6M	329.6M	-291.6M	215.9M

Date	Ratio
Jun 20, 2017	1:1
Aug 29, 2014	1:2

Moelis & Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history