Moelis & Company (MC) Balance Sheet
MC balance sheet, 2025
December 31, 2025 · U.S. dollars$1.81B assets = $1.13B liabilities + $680.4M equity
Both columns are drawn to the same scale: what MC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MC financial health
Descriptive bands, not a rating. Fiscal 2025.
MC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $598.8M2016 | $1.81B2025 | +13.1%/yr | |
| Total liabilities | $347.4M2016 | $1.13B2025 | +14.0%/yr | |
| Shareholders’ equity | $211.8M2016 | $568.4M2025 | +11.6%/yr | |
| Cash & short-term investments | $318.9M2016 | $508.6M2025 | +5.3%/yr | |
| Total debt | $18.3M2016 | $267.2M2025 | +34.7%/yr | |
| Net cash (debt) | $300.6M2016 | $241.4M2025 | −$59.2M | |
| Working capital | $12.1M2016 | $591.4M2025 | +$579.3M | |
| Book value per share | $8.742016 | $7.172025 | −2.2%/yr | |
| Debt / equity | 0.092016 | 0.472025 | +0.38 | |
| Shares outstanding | 24.2M2016 | 79.2M2025 | +14.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MC assets
MC liabilities and equity
MC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $508.6M | $412.5M | $186.4M | $206.8M | $520.2M | $202.5M | $167.8M | $261.1M | $213.2M | $318.9M |
| Cash & equivalents | $508.6M | $412.5M | $186.4M | $206.8M | $520.2M | $202.5M | $167.8M | $261.1M | $213.2M | $318.9M |
| Short-term investments | — | — | $162.9M | $265.2M | $263.3M | $211.8M | $213.2M | $80.7M | $96.1M | $33.4M |
| Receivables | $110.9M | $73.7M | $63.6M | $56.3M | $69.6M | $101.2M | $55.8M | $68.6M | $61.6M | $30.5M |
| Inventory | $0 | $0 | $186.4M | $0 | $591.4M | $305.3M | $225.1M | $0 | $0 | $0 |
| Other current assets | $770,000 | $712,000 | $0 | $745,000 | $0 | $0 | $0 | $671,000 | $703,000 | $659,000 |
| Total current assets | $620.3M | $486.9M | $250.8M | $263.9M | $590.6M | $304.5M | $224.4M | $330.4M | $275.5M | $350.0M |
| Property, plant & equipment (net) | $306.7M | $245.8M | $235.8M | $209.5M | $223.2M | $227.0M | $204.8M | $12.7M | $10.5M | $8.4M |
| Goodwill & intangible assets | $768,000 | $954,000 | $17.1M | $431.3M | $451.0M | $427.1M | $400.5M | $402.9M | $234.0M | $167.8M |
| Long-term investments | $369.1M | $184.6M | $210.4M | $265.2M | $263.3M | $211.8M | $213.2M | $63.3M | $58.8M | $20.9M |
| Other non-current assets | $515.9M | $460.7M | $465.6M | $47.0M | $27.5M | $26.0M | $28.8M | $105.1M | $120.3M | $51.7M |
| Total assets | $1.81B | $1.38B | $1.18B | $1.22B | $1.56B | $1.20B | $1.07B | $914.4M | $699.1M | $598.8M |
| Liabilities | ||||||||||
| Accounts payable | $43.6M | $33.6M | $32.6M | $11.9M | $69.9M | $25.0M | $16.1M | $26.6M | $18.3M | $14.3M |
| Short-term debt | $28.9M | $25.4M | $21.0M | $16.2M | $23.0M | $19.0M | $16.1M | $0 | $0 | $0 |
| Deferred revenue | $9.1M | $5.6M | $4.6M | $7.7M | $4.5M | $2.7M | $3.0M | $7.1M | $4.9M | $3.0M |
| Total current liabilities | $28.9M | $676.3M | $601.6M | $565.2M | $885.5M | $555.4M | $480.2M | $535.8M | $345.6M | $337.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $267.2M | $223.2M | $215.7M | $192.8M | $191.9M | $196.6M | $197.6M | — | — | — |
| Other long-term liabilities | $1.10B | $223.2M | $215.7M | $192.8M | $191.9M | $196.6M | $197.6M | $6.8M | $9.2M | $9.5M |
| Total liabilities | $1.13B | $899.6M | $817.3M | $757.9M | $1.08B | $752.0M | $677.9M | $542.6M | $354.8M | $347.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $891,000 | $853,000 | $813,000 | $776,000 | $732,000 | $679,000 | $632,000 | $575,000 | $487.7M | $291.5M |
| Retained earnings (deficit) | −$801.2M | −$821.6M | −$767.6M | −$560.7M | −$535.3M | −$420.7M | −$324.2M | −$237.8M | −$139.9M | −$68.2M |
| Treasury stock | — | — | — | — | −$256.3M | −$152.2M | −$107.8M | −$56.7M | −$23.2M | −$10.9M |
| Accumulated other comprehensive income | −$7.1M | −$6.7M | −$3.9M | −$4.5M | −$560,000 | −$201,000 | $1.4M | $291,000 | $352,000 | −$543,000 |
| Minority interest | $111.9M | $37.8M | $10.3M | $14.4M | −$10.8M | −$35.5M | −$49.0M | −$32.6M | $19.3M | $39.6M |
| Total shareholders' equity | $568.4M | $441.6M | $352.1M | $444.5M | $489.1M | $479.9M | $442.8M | $404.4M | $324.9M | $211.8M |
| Key figures | ||||||||||
| Total debt | $267.2M | $223.2M | $215.7M | $192.8M | $191.9M | $196.6M | $197.6M | $24.5M | $24.2M | $18.3M |
| Net cash (debt) | $241.4M | $189.2M | −$29.3M | $14.0M | $328.3M | $5.9M | −$29.8M | $236.6M | $189.0M | $300.6M |
| Working capital | $591.4M | −$189.4M | −$350.8M | −$301.3M | −$294.9M | −$250.9M | −$255.9M | −$205.5M | −$70.1M | $12.1M |
| Tangible book value | $567.7M | $440.7M | $335.0M | $13.2M | $38.1M | $52.8M | $42.3M | $1.5M | $91.0M | $44.1M |
| Book value per share | $7.17 | $5.76 | $5.14 | $6.32 | $7.15 | $7.90 | $7.98 | $7.98 | $8.62 | $8.74 |
| Shares outstanding | 79.2M | 76.6M | 68.5M | 70.3M | 68.4M | 60.7M | 55.5M | 50.7M | 37.7M | 24.2M |
| Current ratio | 21.47 | 0.72 | 0.42 | 0.47 | 0.67 | 0.55 | 0.47 | 0.62 | 0.80 | 1.04 |
| Quick ratio | 21.45 | 0.72 | 0.42 | 0.47 | 0.67 | 0.55 | 0.47 | 0.62 | 0.80 | 1.03 |
| Debt / equity | 0.47 | 0.51 | 0.61 | 0.43 | 0.39 | 0.41 | 0.45 | 0.06 | 0.07 | 0.09 |
| Equity / assets | 31.4% | 32.0% | 29.8% | 36.5% | 31.4% | 40.1% | 41.3% | 44.2% | 46.5% | 35.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $207.7M | $152.9M | $508.6M | $281.6M | $221.7M | $184.5M | $412.5M | $145.3M | $150.4M | $102.6M | $186.4M | $147.5M |
| Cash & equivalents | $207.7M | $152.9M | $508.6M | $281.6M | $221.7M | $184.5M | $412.5M | $145.3M | $150.4M | $102.6M | $186.4M | $147.5M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | $162.9M | — |
| Receivables | $111.9M | $125.3M | $110.9M | $99.3M | $102.8M | $93.3M | $73.7M | $88.0M | $74.5M | $85.2M | $63.6M | $46.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $234.1M | $0 | $0 | $186.4M | $0 |
| Other current assets | $0 | $794,000 | $770,000 | $852,000 | $798,000 | $846,000 | $712,000 | $0 | $809,000 | $610,000 | $0 | $766,000 |
| Total current assets | $274.6M | $279.0M | $620.3M | $381.7M | $325.3M | $278.7M | $486.9M | $234.1M | $225.8M | $188.5M | $250.8M | $194.8M |
| Property, plant & equipment (net) | $211.3M | $314.5M | $306.7M | $307.4M | $242.3M | $242.4M | $245.8M | $234.2M | $231.9M | $234.8M | $235.8M | $237.6M |
| Goodwill & intangible assets | $0 | $0 | $768,000 | $0 | $861,000 | $0 | $0 | $0 | $1.0M | −$205.0M | $17.1M | $1.3M |
| Long-term investments | $301.5M | $228.8M | $369.1M | $366.8M | $290.2M | $188.4M | $184.6M | $188.3M | $87.2M | $67.7M | $210.4M | $197.7M |
| Other non-current assets | $620.7M | $466.8M | $515.9M | $461.3M | $483.9M | $496.9M | $461.6M | $496.5M | $505.0M | $726.6M | $465.6M | $489.2M |
| Total assets | $1.41B | $1.29B | $1.81B | $1.52B | $1.34B | $1.21B | $1.38B | $1.15B | $1.05B | $1.01B | $1.18B | $1.12B |
| Liabilities | ||||||||||||
| Accounts payable | $31.3M | $57.9M | $43.6M | $34.9M | $32.5M | $47.9M | $33.6M | $27.8M | $25.1M | $43.4M | $32.6M | $27.9M |
| Short-term debt | $15.3M | — | $28.9M | $0 | $13.6M | $0 | $0 | $5.2M | $12.2M | $18.4M | $21.0M | $5.5M |
| Deferred revenue | $13.6M | $7.8M | $9.1M | $3.2M | $7.2M | $8.2M | $5.6M | $14.2M | $3.7M | $5.7M | $4.6M | $4.2M |
| Total current liabilities | $13.6M | $399.8M | $28.9M | $630.9M | $527.7M | $420.4M | $676.3M | $546.5M | $457.2M | $407.9M | $601.6M | $523.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $262.8M | $267.2M | $267.2M | $267.7M | $218.8M | $220.1M | $223.2M | $211.4M | $209.2M | $211.8M | $215.7M | $216.9M |
| Other long-term liabilities | $753.0M | $267.2M | $1.10B | $267.7M | $218.8M | $220.1M | $223.2M | $211.4M | $209.2M | $211.8M | $215.7M | $216.9M |
| Total liabilities | $766.6M | $667.0M | $1.13B | $898.6M | $746.5M | $640.5M | $899.6M | $758.0M | $666.4M | $619.7M | $817.3M | $740.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $921,000 | $920,000 | $891,000 | $890,000 | $890,000 | $890,000 | $853,000 | $852,000 | $851,000 | $851,000 | $813,000 | $813,000 |
| Retained earnings (deficit) | −$822.4M | −$817.3M | −$801.2M | −$836.7M | −$837.6M | −$825.1M | −$821.6M | −$862.1M | −$831.1M | −$799.1M | −$767.6M | −$716.7M |
| Accumulated other comprehensive income | −$7.3M | −$7.3M | −$7.1M | −$5.8M | −$4.4M | −$5.6M | −$6.7M | −$2.1M | −$4.2M | −$4.6M | −$3.9M | −$4.8M |
| Minority interest | $135.8M | $135.1M | $111.9M | $83.6M | $80.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $505.8M | $487.1M | $568.4M | $535.0M | $516.0M | $484.5M | $441.6M | $367.5M | $357.5M | $364.5M | $352.1M | $367.1M |
| Key figures | ||||||||||||
| Total debt | $262.8M | $267.2M | $267.2M | $267.7M | $218.8M | $220.1M | $223.2M | $211.4M | $209.2M | $211.8M | $215.7M | $216.9M |
| Net cash (debt) | −$55.0M | −$114.2M | $241.4M | $13.8M | $2.9M | −$35.5M | $189.2M | −$66.1M | −$58.8M | −$109.2M | −$29.3M | −$69.4M |
| Working capital | $261.1M | −$120.8M | $591.4M | −$249.1M | −$202.4M | −$141.7M | −$189.4M | −$312.5M | −$231.4M | −$219.4M | −$350.8M | −$328.8M |
| Tangible book value | $505.8M | $487.1M | $567.7M | $535.0M | $515.1M | $484.5M | $441.6M | $367.5M | $356.5M | $569.5M | $335.0M | $365.8M |
| Book value per share | $6.37 | $6.13 | $7.14 | $6.77 | $6.56 | $6.17 | $5.68 | $4.78 | $4.72 | $4.85 | $5.11 | $5.34 |
| Shares outstanding | 79.4M | 79.5M | 79.6M | 79.0M | 78.6M | 78.6M | 77.7M | 76.9M | 75.8M | 75.1M | 68.9M | 68.8M |
| Current ratio | 20.27 | 0.70 | 21.47 | 0.61 | 0.62 | 0.66 | 0.72 | 0.43 | 0.49 | 0.46 | 0.42 | 0.37 |
| Quick ratio | 23.59 | 0.70 | 21.45 | 0.60 | 0.61 | 0.66 | 0.72 | 0.43 | 0.49 | 0.46 | 0.42 | 0.37 |
| Debt / equity | 0.52 | 0.55 | 0.47 | 0.50 | 0.42 | 0.45 | 0.51 | 0.58 | 0.59 | 0.58 | 0.61 | 0.59 |
| Equity / assets | 35.9% | 37.8% | 31.4% | 35.3% | 38.4% | 40.2% | 32.0% | 31.9% | 34.0% | 36.0% | 29.8% | 32.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
MC financial position
At the end of fiscal 2025 (December 31, 2025), Moelis & had total assets of $1.8 billion (up 31.5% from a year earlier), total liabilities of $1.1 billion and shareholders' equity of $568.4 million. It held $508.6 million in cash and short-term investments against $267.2 million of debt, a net cash position of $241.4 million. Its current ratio was 21.47. In the latest quarter (ended June 30, 2026) total assets were $1.4 billion and equity $505.8 million.
Related: MC income statement, MC cash flow statement, MC key metrics. See the MC stock overview for the latest quote and news.
MC balance sheet FAQ
What are Moelis &'s total assets?
Moelis & reported total assets of $1.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.4 billion a year earlier.
How much debt does Moelis & have?
Moelis & had $267.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.47.
How much cash does Moelis & have?
Moelis & held $508.6 million in cash and short-term investments at the end of fiscal 2025; with $267.2 million of debt that is net cash of $241.4 million.
What is Moelis &'s book value?
Moelis &'s shareholders' equity (book value) was $568.4 million at the end of fiscal 2025, or $7.17 per share.
What is Moelis &'s current ratio?
Moelis & had current assets of $620.3 million and current liabilities of $28.9 million, a current ratio of 21.47 (it can cover its short-term obligations).
How much goodwill does Moelis & have?
Moelis & carried $0.8 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2025.