Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $275M | $302M | $501M | $714M | $935M | $1.53B | $1.60B | $1.07B | $602M | $386M |
| Revenue growth | — | 9.8% | 66.1% | 42.4% | 31.0% | 63.2% | 4.8% | -32.9% | -43.8% | -36.0% |
| Gross profit | $206M | $228M | $380M | $537M | $698M | $1.13B | $1.14B | $776M | $445M | $275M |
| Gross margin | 74.9% | 75.5% | 75.8% | 75.2% | 74.6% | 73.9% | 71.3% | 72.4% | 73.8% | 71.3% |
| Operating income | $26.9M | $39.6M | $69.1M | $91.0M | $134M | $216M | $185M | $126M | $2.88M | -$14.2M |
| Operating margin | 9.8% | 13.1% | 13.8% | 12.8% | 14.4% | 14.2% | 11.6% | 11.8% | 0.5% | -3.7% |
| Net income | $17.8M | $27.7M | $55.8M | $77.9M | $103M | $164M | $144M | $99.4M | $2.09M | -$18.7M |
| Net margin | 6.5% | 9.2% | 11.1% | 10.9% | 11.0% | 10.7% | 9.0% | 9.3% | 0.3% | -4.8% |
| EPS (diluted) | $1.49 | $2.29 | $4.62 | $6.43 | $8.68 | $13.89 | $12.73 | $9.10 | $0.19 | -$1.70 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $25.4M | $43.2M | $60.8M | $84.3M | $145M | $94.5M | $195M | $148M | $24.5M | $6.86M |
| Capital expenditures | $2.88M | $3.24M | $4.94M | $10.1M | $5.89M | $34.2M | $16.7M | $6.48M | $7.45M | $5.61M |
| Free cash flow | $22.5M | $40.0M | $55.9M | $74.2M | $139M | $60.3M | $178M | $141M | $17.0M | $1.25M |
| Share buybacks | — | — | $30.0M | $33.1M | $5.00M | $56.0M | $126M | $3.60M | $0.00 | $0.00 |
| Dividends paid | $11.9M | $15.4M | $23.2M | $35.4M | $53.2M | $63.9M | $71.6M | $73.0M | $715K | $195K |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $52.4M | $75.1M | $81.4M | $77.0M | $164M | $104M | $87.7M | $94.4M | $90.9M | $89.3M |
| Total assets | $121M | $146M | $169M | $195M | $276M | $398M | $316M | $310M | $284M | $248M |
| Total liabilities | $25.2M | $37.3M | $60.3M | $89.8M | $119M | $196M | $161M | $108M | $74.1M | $49.1M |
| Shareholders' equity | $96.0M | $107M | $109M | $105M | $157M | $202M | $155M | $201M | $210M | $199M |
| Retained earnings | $93.5M | $104M | $131M | $169M | $154M | $190M | $140M | $175M | $177M | $158M |
| Shares (wtd avg diluted) | 11.9M | 12.1M | 12.1M | 12.1M | 11.8M | 11.8M | 11.3M | 10.9M | 11.0M | 11.0M |
Every figure is extracted from MEDIFAST INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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