Medallion Financial Corp. (MFIN) Balance Sheet
MFIN balance sheet, 2025
December 31, 2025 · U.S. dollars$2.96B assets = $2.45B liabilities + $508.0M equity
Both columns are drawn to the same scale: what MFIN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MFIN financial health
Descriptive bands, not a rating. Fiscal 2025.
MFIN balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $689.4M2016 | $2.96B2025 | +17.6%/yr | |
| Total liabilities | $403.3M2016 | $2.45B2025 | +22.2%/yr | |
| Shareholders’ equity | $286.1M2016 | $408.6M2025 | +4.0%/yr | |
| Cash & short-term investments | $21.0M2016 | $261.7M2025 | +32.4%/yr | |
| Total debt | $518.1M2016 | $316.3M2025 | −5.3%/yr | |
| Net cash (debt) | −$497.1M2016 | −$54.5M2025 | +$442.6M | |
| Working capital | $634.9M2016 | $2.62B2025 | +$2.0B | |
| Book value per share | $11.842016 | $16.852025 | +4.0%/yr | |
| Debt / equity | 1.812016 | 0.772025 | −1.04 | |
| Shares outstanding | 24.2M2016 | 24.2M2025 | +0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MFIN assets
MFIN liabilities and equity
MFIN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MFIN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $261.7M | $101.2M | $106.9M | $81.7M | $106.3M | $98.5M | $63.7M | $69.2M | $12.7M | $21.0M |
| Cash & equivalents | $201.6M | $98.2M | $52.6M | $33.2M | $61.5M | $51.7M | $14.7M | $23.8M | $12.7M | $21.0M |
| Short-term investments | $60.2M | $2.9M | $54.3M | $48.5M | $44.8M | $46.8M | $49.0M | $45.3M | — | — |
| Receivables | $2.46B | $17.4M | $14.2M | $14.7M | $11.5M | $12.1M | $10.2M | $7.4M | $547,000 | $769,000 |
| Inventory | $0 | $0 | $106.9M | $1.85B | $135.9M | $124.2M | $80.0M | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $622.0M | $667.4M |
| Total current assets | $2.72B | $118.6M | $121.1M | $96.4M | $117.7M | $110.6M | $73.9M | $76.6M | $635.3M | $689.1M |
| Property, plant & equipment (net) | $11.9M | $13.8M | $14.1M | $13.2M | $11.8M | $12.4M | $14.4M | $1.2M | $235,000 | $267,000 |
| Goodwill & intangible assets | $168.5M | $169.9M | $171.4M | $172.8M | $174.3M | $201.9M | $203.3M | $204.8M | $0 | $0 |
| Long-term investments | $68.3M | $64.0M | $65.7M | $58.8M | $54.5M | $56.5M | $1.12B | $1.13B | $617.6M | $661.8M |
| Other non-current assets | $0 | $2.50B | $2.22B | $1.92B | $1.51B | $1.26B | $125.2M | $0 | $0 | $0 |
| Total assets | $2.96B | $2.87B | $2.59B | $2.26B | $1.87B | $1.64B | $1.54B | $1.38B | $635.5M | $689.4M |
| Liabilities | ||||||||||
| Accounts payable | $24.3M | $30.0M | $35.1M | $25.6M | $16.9M | $17.6M | $18.5M | $22.6M | $8.2M | $8.3M |
| Short-term debt | $95.2M | $51.3M | $10.5M | $7.2M | $2.2M | $89.3M | $40.3M | $55.2M | $166.6M | $169.0M |
| Deferred revenue | — | — | −$29.6M | — | $10.1M | — | — | — | −$166.6M | −$169.0M |
| Total current liabilities | $100.3M | $2.17B | $1.91B | $1.64B | $1.27B | $1.17B | $1.01B | $925.9M | $20.7M | $54.2M |
| Long-term debt | $216.0M | $232.2M | $235.5M | $214.3M | $220.0M | $153.7M | $174.6M | $158.8M | $327.6M | $349.1M |
| Lease obligations | $7.2M | $7.4M | $7.0M | $8.4M | $9.1M | $11.0M | $12.7M | — | — | — |
| Other long-term liabilities | $2.13B | $26.1M | $28.2M | $35.2M | $27.3M | $11.8M | $22.1M | $7.0M | $0 | $0 |
| Total liabilities | $2.45B | $2.43B | $2.18B | $1.89B | $1.52B | $1.34B | $1.21B | $1.09B | $348.4M | $403.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $296,000 | $293,000 | $291,000 | $287,000 | $281,000 | $278,000 | $276,000 | $274,000 | $273,000 | $270,000 |
| Retained earnings (deficit) | $162.4M | $130.3M | $103.9M | $66.7M | $30.6M | −$23.5M | $11.3M | $13.0M | −$65.6M | −$34.0M |
| Treasury stock | — | — | — | −$45.5M | −$24.9M | −$24.9M | −$24.9M | −$24.9M | −$24.9M | −$24.9M |
| Accumulated other comprehensive income | −$2.4M | −$3.6M | −$3.7M | −$3.3M | $1.0M | $2.0M | $999,000 | −$82,000 | $38.0M | $38.0M |
| Minority interest | $99.4M | $68.8M | $68.8M | $68.8M | $68.8M | $73.2M | $71.3M | $27.6M | — | — |
| Total shareholders' equity | $408.6M | $370.2M | $343.0M | $301.7M | $287.0M | $231.4M | $263.1M | $262.6M | $287.2M | $286.1M |
| Key figures | ||||||||||
| Total debt | $316.3M | $288.6M | $253.1M | $229.9M | $231.2M | $254.1M | $227.7M | $214.0M | $494.2M | $518.1M |
| Net cash (debt) | −$54.5M | −$187.4M | −$146.2M | −$148.3M | −$125.0M | −$155.5M | −$163.9M | −$144.8M | −$481.5M | −$497.1M |
| Working capital | $2.62B | −$2.05B | −$1.79B | −$1.54B | −$1.15B | −$1.06B | −$936.6M | −$849.3M | $614.5M | $634.9M |
| Tangible book value | $240.1M | $200.2M | $171.6M | $128.9M | $112.8M | $29.5M | $59.8M | $57.8M | $287.2M | $286.1M |
| Book value per share | $16.85 | $15.68 | $14.75 | $12.61 | $11.51 | $9.47 | $10.81 | $10.84 | $11.94 | $11.84 |
| Shares outstanding | 24.2M | 23.6M | 23.2M | 23.9M | 24.9M | 24.4M | 24.3M | 24.2M | 24.1M | 24.2M |
| Current ratio | 27.10 | 0.05 | 0.06 | 0.06 | 0.09 | 0.09 | 0.07 | 0.08 | 30.63 | 12.71 |
| Quick ratio | 27.10 | 0.05 | 0.06 | 0.06 | 0.09 | 0.09 | 0.07 | 0.08 | 0.64 | 0.40 |
| Debt / equity | 0.77 | 0.78 | 0.74 | 0.76 | 0.81 | 1.10 | 0.87 | 0.81 | 1.72 | 1.81 |
| Equity / assets | 13.8% | 12.9% | 13.3% | 13.4% | 15.3% | 14.1% | 17.1% | 19.0% | 45.2% | 41.5% |
| 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 | $275.9M | $96.3M | $261.7M | $74.9M | $213.5M | $132.8M | $101.2M | $123.6M | $89.7M | $58.7M | $106.9M | $39.8M |
| Cash & equivalents | $206.0M | $93.9M | $201.6M | $72.5M | $152.0M | $131.5M | $98.2M | $120.6M | $87.7M | $54.8M | $52.6M | $37.5M |
| Short-term investments | $69.9M | $2.4M | $60.2M | $2.4M | $61.5M | $1.3M | $2.9M | $3.0M | $2.0M | $3.9M | $54.3M | $2.3M |
| Receivables | $2.67B | $19.3M | $2.46B | $17.0M | $2.32B | $14.4M | $17.4M | $14.1M | $16.6M | $12.7M | $14.2M | $13.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $177.3M | $1 | $2.31B | $149.8M | $143.6M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $2.95B | $115.6M | $2.72B | $91.8M | $2.53B | $147.3M | $118.6M | $137.7M | $106.3M | $71.3M | $121.1M | $53.4M |
| Property, plant & equipment (net) | $8.7M | $11.0M | $11.9M | $10.8M | $11.9M | $12.8M | $13.8M | $14.2M | $14.1M | $14.0M | $14.1M | $13.3M |
| Goodwill & intangible assets | $167.8M | $168.1M | $168.5M | $168.9M | $169.2M | $169.6M | $169.9M | $170.3M | $170.7M | $171.0M | $171.4M | $171.8M |
| Long-term investments | $78.7M | $76.0M | $68.3M | $70.4M | $69.6M | $69.4M | $64.0M | $66.7M | $66.6M | $69.4M | $65.7M | $63.7M |
| Other non-current assets | $0 | $2.58B | $0 | $2.56B | $94.8M | $2.45B | $2.50B | $2.49B | $2.40B | $2.29B | $2.22B | $2.26B |
| Total assets | $3.19B | $2.95B | $2.96B | $2.90B | $2.88B | $2.85B | $2.87B | $2.88B | $2.76B | $2.62B | $2.59B | $2.56B |
| Liabilities | ||||||||||||
| Accounts payable | $27.8M | $24.5M | $24.3M | $24.1M | $23.3M | $31.8M | $30.0M | $31.0M | $32.2M | $28.0M | $35.1M | $34.4M |
| Short-term debt | $54.5M | $46.7M | $95.2M | $82.5M | $89.0M | $114.0M | $51.3M | $51.3M | $39.8M | $34.8M | $10.5M | $20.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$869.5M | −$723.5M | −$37.6M | — |
| Total current liabilities | $58.4M | $2.20B | $100.3M | $2.16B | $90.8M | $2.17B | $2.17B | $2.19B | $2.08B | $1.94B | $1.91B | $1.91B |
| Long-term debt | $287.5M | $214.2M | $216.0M | $215.7M | $199.9M | $199.7M | $232.2M | $232.0M | $230.8M | $225.6M | $235.5M | $218.1M |
| Lease obligations | $4.4M | $6.7M | $7.2M | $5.8M | $6.3M | $6.8M | $7.4M | $7.8M | $8.4M | $6.7M | $7.0M | $7.1M |
| Other long-term liabilities | $2.34B | $25.7M | $2.13B | $25.4M | $2.06B | $30.3M | $26.1M | $26.4M | $28.5M | $33.5M | $28.2M | $33.1M |
| Total liabilities | $2.69B | $2.44B | $2.45B | $2.40B | $2.35B | $2.40B | $2.43B | $2.45B | $2.34B | $2.20B | $2.18B | $2.16B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $301,000 | $301,000 | $296,000 | $296,000 | $295,000 | $295,000 | $293,000 | $293,000 | $293,000 | $292,000 | $291,000 | $290,000 |
| Retained earnings (deficit) | $168.6M | $164.5M | $162.4M | $153.0M | $148.0M | $139.7M | $130.3M | $122.6M | $116.3M | $111.6M | $103.9M | $91.9M |
| Accumulated other comprehensive income | −$2.9M | −$2.8M | −$2.4M | −$2.4M | −$3.1M | −$3.0M | −$3.6M | −$2.2M | −$3.7M | −$3.8M | −$3.7M | −$5.0M |
| Minority interest | $99.4M | $99.4M | $99.4M | $99.4M | $142.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $406.0M | $408.1M | $408.6M | $397.4M | $389.9M | $380.2M | $370.2M | $362.4M | $354.0M | $349.0M | $343.0M | $328.5M |
| Key figures | ||||||||||||
| Total debt | $345.9M | $265.3M | $316.3M | $301.7M | $293.0M | $318.2M | $288.6M | $288.9M | $276.7M | $267.1M | $253.1M | $245.9M |
| Net cash (debt) | −$70.0M | −$169.0M | −$54.5M | −$226.8M | −$79.5M | −$185.4M | −$187.4M | −$165.3M | −$187.0M | −$208.4M | −$146.2M | −$206.1M |
| Working capital | $2.89B | −$2.09B | $2.62B | −$2.07B | $2.44B | −$2.02B | −$2.05B | −$2.05B | −$1.97B | −$1.87B | −$1.79B | −$1.86B |
| Tangible book value | $238.2M | $239.9M | $240.1M | $228.6M | $220.7M | $210.6M | $200.2M | $192.1M | $183.3M | $178.0M | $171.6M | $156.7M |
| Book value per share | $16.72 | $16.63 | $16.61 | $16.26 | $16.26 | $15.91 | $15.58 | $15.45 | $15.09 | $14.69 | $14.43 | $14.04 |
| Shares outstanding | 24.3M | 24.5M | 24.6M | 24.4M | 24.0M | 23.9M | 23.8M | 23.4M | 23.5M | 23.8M | 23.8M | 23.4M |
| Current ratio | 50.49 | 0.05 | 27.10 | 0.04 | 27.92 | 0.07 | 0.05 | 0.06 | 0.05 | 0.04 | 0.06 | 0.03 |
| Quick ratio | 50.49 | 0.05 | 27.10 | 0.04 | 27.92 | 0.07 | 0.05 | 0.06 | 0.05 | 0.04 | 0.06 | 0.03 |
| Debt / equity | 0.85 | 0.65 | 0.77 | 0.76 | 0.75 | 0.84 | 0.78 | 0.80 | 0.78 | 0.77 | 0.74 | 0.75 |
| Equity / assets | 12.7% | 13.8% | 13.8% | 13.7% | 13.5% | 13.4% | 12.9% | 12.6% | 12.8% | 13.3% | 13.3% | 12.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 10, 2026); data from EODHD.
MFIN financial position
At the end of fiscal 2025 (December 31, 2025), Medallion Financial had total assets of $3.0 billion (up 3.0% from a year earlier), total liabilities of $2.4 billion and shareholders' equity of $408.6 million. It held $261.7 million in cash and short-term investments against $316.3 million of debt, net debt of $54.5 million. Its current ratio was 27.10. In the latest quarter (ended June 30, 2026) total assets were $3.2 billion and equity $406.0 million.
Related: MFIN income statement, MFIN cash flow statement, MFIN key metrics. See the MFIN stock overview for the latest quote and news.
MFIN balance sheet FAQ
What are Medallion Financial's total assets?
Medallion Financial reported total assets of $3.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.9 billion a year earlier.
How much debt does Medallion Financial have?
Medallion Financial had $316.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.77.
How much cash does Medallion Financial have?
Medallion Financial held $261.7 million in cash and short-term investments at the end of fiscal 2025; with $316.3 million of debt that is net debt of $54.5 million.
What is Medallion Financial's book value?
Medallion Financial's shareholders' equity (book value) was $408.6 million at the end of fiscal 2025, or $16.85 per share.
What is Medallion Financial's current ratio?
Medallion Financial had current assets of $2.7 billion and current liabilities of $100.3 million, a current ratio of 27.10 (it can cover its short-term obligations).
How much goodwill does Medallion Financial have?
Medallion Financial carried $168.5 million of goodwill and intangible assets, 5.7% of total assets, at the end of fiscal 2025.