MEDIFAST INC (MED) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
11445 CRONHILL DRIVE OWINGS MILLS, MD 21117 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 209 - Miscellaneous Food Preparations And Kindred (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 87,691 | 109,544 | 174,475 | 92,678 | 101,034 | 98,834 | |||
| Cash and cash equivalents | 87,691 | 104,183 | 163,723 | 76,974 | 81,364 | 75,077 | |||
| Short-term investments | 5,361 | 10,752 | 15,704 | 19,670 | 23,757 | ||||
| Receivables | 584 | 1,437 | 1,011 | 576 | |||||
| Inventory, net of allowances, customer advances and progress billings | 118,856 | 180,043 | 53,392 | 48,771 | 38,888 | 19,328 | |||
| Inventory | 118,856 | 180,043 | 53,392 | 48,771 | 38,888 | 19,328 | |||
| Prepaid expense | 945 | 5,169 | 2,272 | ||||||
| Other undisclosed current assets | 16,237 | 16,334 | 5,863 | 6,096 | 4,586 | 4,188 | |||
| Total current assets: | 222,784 | 306,866 | 234,314 | 154,151 | 145,519 | 125,198 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 18,460 | 24,457 | 10,508 | 12,803 | ✕ | ✕ | |||
| Property, plant and equipment | 57,185 | 56,131 | 27,633 | 26,039 | 19,747 | 18,611 | |||
| Deferred income tax assets | 5,328 | 4,404 | 692 | 1,307 | ✕ | ✕ | |||
| Other noncurrent assets | 12,456 | 6,468 | 2,937 | 353 | 1,183 | 2,120 | |||
| Other undisclosed noncurrent assets | 2,980 | ||||||||
| Total noncurrent assets: | 93,429 | 91,460 | 41,770 | 40,502 | 23,910 | 20,731 | |||
| TOTAL ASSETS: | 316,213 | 398,326 | 276,084 | 194,653 | 169,429 | 145,929 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 134,690 | 163,309 | 107,677 | 76,220 | 60,323 | 37,140 | |||
| Interest and dividends payable | ✕ | ✕ | 17,186 | 13,831 | 13,719 | 9,137 | 6,105 | ||
| Taxes payable | ✕ | ✕ | 2,571 | 2,981 | 1,549 | 1,074 | 596 | ||
| Employee-related liabilities | ✕ | ✕ | 24,940 | 16,948 | 10,409 | 8,309 | |||
| Accounts payable | 58,667 | 70,894 | 35,767 | 22,608 | 21,814 | 23,855 | |||
| Accrued liabilities | 57,283 | 28,733 | 22,923 | 18,784 | 16,172 | 6,584 | |||
| Other undisclosed accounts payable and accrued liabilities | 18,740 | 18,985 | 15,227 | 9,151 | 3,817 | ||||
| Debt | 3,168 | ||||||||
| Other undisclosed current liabilities | 6,204 | 6,523 | 3,673 | ||||||
| Total current liabilities: | 140,894 | 169,832 | 111,350 | 79,388 | 60,323 | 37,140 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation: | 26,020 | 7,488 | 10,433 | ||||||
| Liabilities, other than long-term debt | 20,275 | 208 | |||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 208 | |||
| Operating lease, liability | 20,275 | 26,020 | 7,488 | 10,433 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | (26,020) | (7,488) | |||||||
| Total noncurrent liabilities: | 20,275 | 26,020 | 7,488 | 10,433 | 208 | ||||
| Total liabilities: | 161,169 | 195,852 | 118,838 | 89,821 | 60,323 | 37,348 | |||
| Equity | |||||||||
| Equity, attributable to parent | 155,044 | 202,474 | 157,246 | 104,832 | 109,106 | 108,581 | |||
| Common stock | 11 | 12 | 12 | 12 | 12 | 12 | |||
| Treasury stock, value | (6,398) | (5,000) | (63,993) | (30,879) | |||||
| Additional paid in capital | 21,555 | 12,018 | 7,842 | 8,802 | 4,967 | ||||
| Accumulated other comprehensive income (loss) | 24 | 111 | 41 | 25 | (173) | (160) | |||
| Retained earnings | 139,852 | 190,333 | 154,351 | 168,788 | 131,344 | 103,762 | |||
| Total equity: | 155,044 | 202,474 | 157,246 | 104,832 | 109,106 | 108,581 | |||
| TOTAL LIABILITIES AND EQUITY: | 316,213 | 398,326 | 276,084 | 194,653 | 169,429 | 145,929 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,598,577 | 1,526,087 | 934,842 | 713,672 | 501,003 | 301,563 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 301,563 | |
| Cost of revenue | (458,163) | (398,490) | (237,027) | (176,814) | (121,104) | (73,751) | ||
| Gross profit: | 1,140,414 | 1,127,597 | 697,815 | 536,858 | 379,899 | 227,812 | ||
| Operating expenses | (955,608) | (911,356) | (563,656) | (445,819) | (310,836) | (188,180) | ||
| Operating income: | 184,806 | 216,241 | 134,159 | 91,039 | 69,063 | 39,632 | ||
| Nonoperating income (expense) | (747) | (112) | 106 | 1,324 | 1,485 | 694 | ||
| Other nonoperating income (expense) | (46) | 119 | (140) | 29 | 179 | 136 | ||
| Income from continuing operations before income taxes: | 184,059 | 216,129 | 134,265 | 92,363 | 70,548 | 40,326 | ||
| Income tax expense | (40,491) | (52,098) | (31,406) | (14,447) | (14,759) | (12,605) | ||
| Income from continuing operations: | 143,568 | 164,031 | 102,859 | 77,916 | 55,789 | 27,721 | ||
| Income before gain (loss) on sale of properties: | ✕ | 164,031 | 102,859 | 77,916 | 55,789 | 27,721 | ||
| Net income available to common stockholders, diluted: | 143,568 | 164,031 | 102,859 | 77,916 | 55,789 | 27,721 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 143,568 | 164,031 | 102,859 | 77,916 | 55,789 | 27,721 | ||
| Other comprehensive income (loss) | 70 | 16 | 198 | (13) | 5 | |||
| Comprehensive income: | 143,568 | 164,101 | 102,875 | 78,114 | 55,776 | 27,726 | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (87) | |||||||
| Comprehensive income, net of tax, attributable to parent: | 143,481 | 164,101 | 102,875 | 78,114 | 55,776 | 27,726 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.