MFIN

MKT CAP:$227M

Medallion Financial Corp.

Market Cap

$227M

Financial Services·Financial - Credit Services·🇺🇸 United States·NASDAQ

Financials·Financial·🇺🇸·NASDAQ

Stock Price

$9.42-$0.76 (-7.47%)

Apr 23, 2026

Company Details

Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lendi...

CEO

Andrew Murstein

IPO Date

May 23, 1996

Website

www.medallion.com

Key Metrics TTM

Revenue

$272M

+86.3% YoY

Net Income

$51M

EPS (Diluted)

$2.18

Free Cash Flow

$113M

Revenue / Share

$11.45

Gross Margin

55.0%

Operating Margin

30.6%

Net Margin

18.8%

FCF Margin

41.5%

P/S

0.8x

P/E

4.4x

Earnings Reports

Q1 2025

Apr 29, 2026

PENDING

Q4 2024

Mar 13, 2025

$83M+22.0%EPS $0.43

FY 2023

Mar 7, 2024

$255MEPS $2.37

Q4 2023

Mar 7, 2024

$68MEPS $0.60

Q3 2023

Nov 6, 2023

$66MEPS $0.48

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$14M	$11M	$7M
Q2 16	$12M	$8M	$5M
Q3 16	$13M	$10M	$5M
Q4 16	$66M	$63M	$53M
Q1 17	$5M	$1M	-$861.0K
Q2 17	$4M	$391.0K	-$3M
Q3 17	$6M	$2M	-$2M
Q4 17	-$10M	-$14M	-$18M
Q1 18	$4M	$422.0K	-$4M
Q2 21	$41M	$34M	$18M
Q3 21	$46M	$39M	$23M
Q4 21	$55M	$45M	$28M
Q1 23	$54M	$38M	$23M
Q3 23	$66M	$35M	$19M
Q4 23	$68M	$39M	$22M
Q4 24	$83M	$38M	$18M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	0.7x	3.1x
Q1 17	0.5x	2.7x
Q2 17	0.6x	6.6x
Q3 17	0.6x	13.0x
Q4 17	23.2x	333.1x
Q1 18	33.5x	—
Q2 21	5.4x	—
Q3 21	2.4x	13.4x
Q4 21	1.0x	4.7x
Q1 23	0.8x	2.6x
Q3 23	0.7x	2.5x
Q4 23	0.9x	3.7x
Q4 24	0.8x	4.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	-$14M	-$14M
Q2 16	-$7M	-$7M
Q3 16	$82M	$82M
Q4 16	$1M	$1M
Q1 17	$16M	$16M
Q2 17	$2M	$2M
Q3 17	$133.0K	$133.0K
Q4 17	-$4M	-$4M
Q1 18	$5M	$5M
Q2 21	$19M	$19M
Q3 21	$22M	$22M
Q4 21	$17M	$17M
Q1 23	$29M	$29M
Q3 23	$36M	$36M
Q4 23	$20M	$20M
Q4 24	$28M	$28M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	-66.0%	-20.4%
Q2 17	-67.9%	-2.3%
Q3 17	-57.7%	-10.3%
Q4 17	-115.2%	-41.6%
Q1 18	-15.4%	+35.6%
Q2 21	+981.2%	+223.7%
Q3 21	+740.5%	+227.5%
Q4 21	+645.2%	+246.8%
Q1 23	+1269.7%	+313.4%
Q3 23	+61.0%	+103.3%
Q4 23	+47.3%	+96.7%
Q4 24	+52.3%	+142.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$0	0.0%
Q2 16	$0	0.0%
Q3 16	$0	0.0%
Q4 16	$0	0.0%
Q1 17	$0	0.0%
Q2 17	$200.0K	5.3%
Q3 17	$222.0K	4.0%
Q4 17	$234.0K	—
Q1 18	$152.0K	3.8%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q4 24	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 16	$576.0K
Q2 16	$613.0K
Q3 16	$959.0K
Q4 16	$1M
Q1 17	$916.0K
Q2 17	$3M
Q3 17	$3M
Q4 17	$1M
Q1 18	$3M
Q2 21	$9M
Q3 21	$9M
Q4 21	$11M
Q1 23	$9M
Q3 23	$10M
Q4 23	$10M
Q4 24	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$57M	$22.0K	$57M
Q2 22	$34M	$22.0K	$34M
Q3 22	$25M	$2M	$26M
Q4 22	$33M	$48M	$82M
Q1 23	$21M	$44.0K	$21M
Q2 23	$82M	$0	$82M
Q3 23	$37M	$2M	$40M
Q4 23	$53M	$54M	$107M
Q1 24	$55M	$4M	$59M
Q2 24	$88M	$2M	$90M
Q3 24	$121M	$3M	$124M
Q4 24	$98M	$3M	$101M
Q1 25	$132M	$1M	$133M
Q2 25	$152M	$62M	$214M
Q3 25	$72M	$2M	$75M
Q4 25	$202M	$60M	$262M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	24M	—	—
Q2 16	24M	+0.1%	—
Q3 16	24M	-0.3%	—
Q4 16	24M	-1.2%	—
Q1 17	24M	+0.2%	-1.2%
Q2 17	24M	-0.1%	-1.4%
Q3 17	24M	+0.7%	-0.4%
Q4 17	24M	+0.4%	+1.2%
Q1 18	24M	-0.1%	+0.9%
Q2 21	25M	+3.3%	+4.3%
Q3 21	25M	+0.2%	+3.8%
Q4 21	25M	-0.2%	+3.1%
Q1 23	23M	-7.9%	-4.9%
Q3 23	23M	+1.8%	-6.2%
Q4 23	24M	+1.6%	-4.9%
Q4 24	24M	-0.0%	-4.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$96.7K	143
Q2 16	$82.7K	143
Q3 16	$91.1K	143
Q4 16	$505.0K	131
Q1 17	$35.9K	131
Q2 17	$29.0K	131
Q3 17	$42.1K	131
Q4 17	-$72.6K	138
Q1 18	$28.8K	138
Q2 21	$219.6K	187
Q3 21	$247.7K	187
Q4 21	$401.9K	136
Q1 23	$344.4K	158
Q3 23	$418.6K	158
Q4 23	$403.8K	169
Q4 24	$478.4K	174

Revenue / Employee