Milestone Scientific Inc. (MLSS) Balance Sheet
MLSS balance sheet, 2025
December 31, 2025 · U.S. dollars$7.8M assets = $5.0M liabilities + $2.8M equity
Both columns are drawn to the same scale: what MLSS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MLSS financial health
Descriptive bands, not a rating. Fiscal 2025.
MLSS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $13.6M2016 | $7.8M2025 | −5.9%/yr | |
| Total liabilities | $5.0M2016 | $5.0M2025 | −0.0%/yr | |
| Shareholders’ equity | $8.5M2016 | $2.8M2025 | −11.6%/yr | |
| Cash & short-term investments | $3.6M2016 | $1.1M2025 | −12.2%/yr | |
| Total debt | $985,6782017 | $1.0M2025 | +0.4%/yr | |
| Net cash (debt) | $1.7M2017 | $92,3962025 | −$1.6M | |
| Working capital | $7.7M2016 | $3.3M2025 | −$4.4M | |
| Book value per share | $0.322016 | $0.032025 | −21.9%/yr | |
| Current ratio | 2.542016 | 1.812025 | −0.73 | |
| Debt / equity | 0.142017 | 0.362025 | +0.23 | |
| Shares outstanding | 27.0M2016 | 82.1M2025 | +13.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MLSS assets
MLSS liabilities and equity
MLSS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MLSS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.1M | $3.3M | $6.0M | $8.7M | $14.8M | $14.2M | $1.5M | $743,429 | $2.6M | $3.6M |
| Cash & equivalents | $1.1M | $3.3M | $3.0M | $8.7M | $14.8M | $14.2M | $1.5M | $743,429 | $2.6M | $3.6M |
| Short-term investments | — | $0 | $3.0M | $8.3M | $13.9M | — | — | — | $0 | $0 |
| Receivables | $706,168 | $475,376 | $312,664 | $693,717 | $943,272 | $1.1M | $1.7M | $2.1M | $3.3M | $3.5M |
| Inventory | $3.8M | $3.7M | $2.6M | $1.8M | $1.5M | $2.4M | $1.6M | $1.9M | $3.4M | $4.6M |
| Other current assets | $1.9M | $1.8M | $1.9M | $1.8M | $1.7M | $830,117 | $1.2M | $1.1M | $2.7M | $991,880 |
| Total current assets | $7.5M | $9.3M | $10.8M | $13.0M | $18.9M | $18.6M | $6.1M | $5.9M | $12.0M | $12.7M |
| Property, plant & equipment (net) | $206,189 | $337,964 | $374,257 | $479,476 | $574,224 | $663,182 | $60,953 | $82,557 | $141,760 | $159,026 |
| Goodwill & intangible assets | $79,063 | $148,404 | $178,636 | $227,956 | $277,619 | $329,249 | $382,260 | $435,273 | $2.8M | $660,457 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $43,343 | $24,150 | $24,150 | $24,150 | $24,150 | $24,150 | $35,905 | $26,878 | $676,878 | $17,355 |
| Total assets | $7.8M | $9.8M | $11.4M | $13.7M | $19.8M | $19.6M | $6.6M | $6.4M | $15.6M | $13.6M |
| Liabilities | ||||||||||
| Accounts payable | $1.4M | $1.0M | $1.1M | $1.9M | $1.2M | $868,110 | $2.7M | $2.9M | $977,623 | $2.6M |
| Short-term debt | $157,702 | $128,809 | $113,691 | $101,066 | $89,546 | $356,007 | $15,977 | $1.7M | $985,678 | — |
| Deferred revenue | — | — | — | — | — | $242,589 | $340,476 | $521,800 | $2.5M | $1.0M |
| Total current liabilities | $4.1M | $3.7M | $3.1M | $3.3M | $3.1M | $2.9M | $4.9M | $4.9M | $6.7M | $5.0M |
| Long-term debt | $800,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $220,246 | $349,054 | $395,978 | $497,043 | $586,588 | $666,415 | $15,977 | — | — | — |
| Other long-term liabilities | $62,544 | $220,245 | $282,288 | $395,977 | $497,042 | $586,589 | $1.7M | $0 | $1.4M | $36,106 |
| Total liabilities | $5.0M | $4.0M | $3.4M | $3.7M | $3.6M | $3.5M | $4.9M | $4.9M | $8.1M | $5.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $80,487 | $78,048 | $75,881 | $69,306 | $68,153 | $64,171 | $49,410 | $36,330 | $86.7M | $82.8M |
| Retained earnings (deficit) | −$133.8M | −$128.1M | −$123.3M | −$116.4M | −$107.7M | −$100.9M | −$93.5M | −$86.0M | −$78.6M | −$73.4M |
| Treasury stock | — | — | — | — | — | −$911,516 | −$911,516 | −$911,516 | −$911,516 | −$911,516 |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $0 | −$788,684 | −$721,619 | −$659,144 |
| Minority interest | — | — | $0 | −$219,276 | — | −$94,426 | −$67,274 | −$11,402 | $256,744 | $36,106 |
| Total shareholders' equity | $2.8M | $5.8M | $8.0M | $10.2M | $16.4M | $16.2M | $1.7M | $1.5M | $7.2M | $8.5M |
| Key figures | ||||||||||
| Total debt | $1.0M | $349,054 | $395,978 | $497,043 | $586,588 | $942,595 | $15,977 | $1.7M | $985,678 | — |
| Net cash (debt) | $92,396 | $2.9M | $5.6M | $8.2M | $14.2M | $13.3M | $1.5M | −$920,420 | $1.7M | — |
| Working capital | $3.3M | $5.5M | $7.7M | $9.7M | $15.8M | $15.7M | $1.1M | $983,500 | $5.3M | $7.7M |
| Tangible book value | $2.7M | $5.7M | $7.8M | $10.0M | $16.1M | $15.9M | $1.3M | $1.1M | $4.5M | $7.8M |
| Book value per share | $0.03 | $0.07 | $0.11 | $0.14 | $0.24 | $0.26 | $0.04 | $0.04 | $0.22 | $0.32 |
| Shares outstanding | 82.1M | 79.8M | 72.8M | 70.6M | 68.8M | 63.1M | 45.7M | 35.3M | 32.7M | 27.0M |
| Current ratio | 1.81 | 2.48 | 3.51 | 3.93 | 6.11 | 6.45 | 1.23 | 1.20 | 1.79 | 2.54 |
| Quick ratio | 0.44 | 1.00 | 2.04 | 2.85 | 5.07 | 5.32 | 0.65 | 0.58 | 0.88 | 1.42 |
| Debt / equity | 0.36 | 0.06 | 0.05 | 0.05 | 0.04 | 0.06 | 0.01 | 1.08 | 0.14 | — |
| Equity / assets | 36.0% | 59.5% | 70.5% | 74.6% | 82.6% | 82.8% | 25.9% | 24.1% | 46.3% | 62.7% |
| 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 | $2.1M | $1.2M | $1.1M | $1.3M | $1.3M | $2.2M | $3.3M | $4.8M | $5.8M | $5.0M | $6.0M | $4.6M |
| Cash & equivalents | $2.1M | $1.2M | $1.1M | $1.3M | $1.3M | $2.2M | $3.3M | $4.8M | $5.8M | $4.0M | $3.0M | $2.2M |
| Short-term investments | — | — | — | — | — | — | $0 | $0 | $0 | $1.0M | $3.0M | $2.5M |
| Receivables | $1.1M | $578,103 | $706,168 | $716,536 | $690,630 | $524,970 | $475,376 | $553,982 | $386,836 | $661,838 | $312,664 | $591,012 |
| Inventory | $3.1M | $3.5M | $3.8M | $4.1M | $3.9M | $4.2M | $3.7M | $3.7M | $3.3M | $2.9M | $2.6M | $2.5M |
| Other current assets | $1.9M | $2.1M | $1.9M | $1.9M | $1.8M | $1.7M | $1.8M | $1.7M | $2.0M | $2.3M | $1.9M | $2.3M |
| Total current assets | $8.1M | $7.4M | $7.5M | $8.1M | $7.6M | $8.6M | $9.3M | $10.7M | $11.5M | $10.8M | $10.8M | $10.0M |
| Property, plant & equipment (net) | $161,593 | $173,054 | $206,189 | $255,733 | $282,358 | $307,991 | $337,964 | $296,862 | $325,386 | $345,627 | $374,257 | $398,483 |
| Goodwill & intangible assets | $44,857 | $61,960 | $79,063 | $96,039 | $113,494 | $130,949 | $148,404 | $155,255 | $162,105 | $168,956 | $178,636 | $188,314 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $24,150 | $375,295 | $43,343 | $24,150 | $24,149 | $24,150 | $24,150 | $24,150 | $24,150 | $24,150 | $24,150 | $24,150 |
| Total assets | $8.3M | $8.0M | $7.8M | $8.5M | $8.1M | $9.1M | $9.8M | $11.2M | $12.0M | $11.4M | $11.4M | $10.6M |
| Liabilities | ||||||||||||
| Accounts payable | $2.9M | $2.3M | $1.4M | $2.0M | $2.0M | $1.9M | $1.0M | $1.1M | $2.2M | $1.9M | $1.1M | $1.8M |
| Short-term debt | $136,053 | $164,846 | $157,702 | $150,641 | $143,663 | $136,766 | — | $116,043 | $115,389 | $115,574 | $113,691 | $110,358 |
| Total current liabilities | $4.4M | $4.9M | $4.1M | $5.0M | $3.8M | $4.4M | $3.7M | $3.8M | $3.8M | $3.6M | $3.1M | $3.3M |
| Long-term debt | $465,982 | $800,000 | $800,000 | $800,000 | $800,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $149,721 | $185,348 | $220,246 | $253,738 | $286,551 | $318,697 | $349,054 | $311,692 | $340,439 | $369,348 | $395,978 | $422,051 |
| Other long-term liabilities | $13,668 | $20,502 | $62,544 | $103,097 | $142,887 | $181,931 | $220,245 | $195,649 | $225,050 | $253,774 | $282,288 | $311,693 |
| Total liabilities | $4.9M | $5.7M | $5.0M | $5.9M | $4.7M | $4.6M | $4.0M | $4.0M | $4.1M | $3.9M | $3.4M | $3.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $88,773 | $80,487 | $80,487 | $78,592 | $78,592 | $78,230 | — | $77,710 | $77,228 | $76,632 | $75,881 | $70,894 |
| Retained earnings (deficit) | −$135.7M | −$134.6M | −$133.8M | −$132.7M | −$131.5M | −$130.0M | −$128.1M | −$126.0M | −$124.6M | −$124.8M | −$123.3M | −$121.4M |
| Accumulated other comprehensive income | — | — | — | — | $0 | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $3.5M | $2.3M | $2.8M | $2.5M | $3.3M | $4.5M | $5.8M | $7.2M | $8.0M | $7.5M | $8.0M | $7.2M |
| Key figures | ||||||||||||
| Total debt | $615,703 | $985,348 | $1.0M | $1.1M | $1.1M | $318,697 | — | $311,692 | $340,439 | $369,348 | $395,978 | $422,051 |
| Net cash (debt) | $1.5M | $209,076 | $92,396 | $291,563 | $187,763 | $1.9M | — | $4.5M | $5.4M | $4.6M | $5.6M | $4.2M |
| Working capital | $3.7M | $2.5M | $3.3M | $3.1M | $3.9M | $4.2M | $5.5M | $6.9M | $7.7M | $7.2M | $7.7M | $6.7M |
| Tangible book value | $3.4M | $2.2M | $2.7M | $2.5M | $3.2M | $4.3M | $5.7M | $7.1M | $7.8M | $7.3M | $7.8M | $7.1M |
| Book value per share | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.05 | $0.07 | $0.09 | $0.10 | $0.09 | $0.11 | $0.10 |
| Shares outstanding | 93.1M | 82.1M | 82.1M | 82.3M | 82.0M | 81.9M | 78.0M | 80.0M | 80.0M | 79.7M | 75.8M | 73.7M |
| Current ratio | 1.85 | 1.51 | 1.81 | 1.61 | 2.03 | 1.94 | 2.48 | 2.85 | 3.00 | 2.97 | 3.51 | 3.04 |
| Quick ratio | 0.71 | 0.36 | 0.44 | 0.41 | 0.52 | 0.62 | 1.00 | 1.42 | 1.60 | 1.56 | 2.04 | 1.59 |
| Debt / equity | 0.18 | 0.43 | 0.36 | 0.41 | 0.33 | 0.07 | — | 0.04 | 0.04 | 0.05 | 0.05 | 0.06 |
| Equity / assets | 41.6% | 28.7% | 36.0% | 30.0% | 41.5% | 49.1% | 59.5% | 64.6% | 66.3% | 65.7% | 70.5% | 68.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
MLSS financial position
At the end of fiscal 2025 (December 31, 2025), Milestone Scientific had total assets of $7.8 million (down 20.3% from a year earlier), total liabilities of $5.0 million and shareholders' equity of $2.8 million. It held $1.1 million in cash and short-term investments against $1.0 million of debt, a net cash position of $0.1 million. Its current ratio was 1.81. In the latest quarter (ended June 30, 2026) total assets were $8.3 million and equity $3.5 million.
Related: MLSS income statement, MLSS cash flow statement, MLSS key metrics. See the MLSS stock overview for the latest quote and news.
MLSS balance sheet FAQ
What are Milestone Scientific's total assets?
Milestone Scientific reported total assets of $7.8 million at the end of fiscal 2025 (December 31, 2025), compared with $9.8 million a year earlier.
How much debt does Milestone Scientific have?
Milestone Scientific had $1.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.36.
How much cash does Milestone Scientific have?
Milestone Scientific held $1.1 million in cash and short-term investments at the end of fiscal 2025; with $1.0 million of debt that is net cash of $0.1 million.
What is Milestone Scientific's book value?
Milestone Scientific's shareholders' equity (book value) was $2.8 million at the end of fiscal 2025, or $0.03 per share.
What is Milestone Scientific's current ratio?
Milestone Scientific had current assets of $7.5 million and current liabilities of $4.1 million, a current ratio of 1.81 (it can cover its short-term obligations).
How much goodwill does Milestone Scientific have?
Milestone Scientific carried $0.1 million of goodwill and intangible assets, 1.0% of total assets, at the end of fiscal 2025.