Moelis & Co (MC) financial statements: income statement, balance sheet and cash flow
Moelis & Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Moelis & Co reported revenue of $1.5B (+27.0% year on year) and net income of $259.6M (+71.4% year on year).
Income statement
Moelis & Co income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$1.5B
$1.2B
$854.7M
$985.3M
Compensation and benefits
$1.0B
$830.2M
$714.7M
$618.2M
Occupancy
$35.2M
$29.9M
$28.6M
$24.2M
Professional fees
$29.8M
$27.1M
$32.8M
$21.0M
Communication, technology and information services
$56.9M
$50.6M
$46.0M
$39.3M
Travel and related expenses
$57.7M
$40.1M
$37.0M
$32.4M
Depreciation and amortization
$11.9M
$10.4M
$8.3M
$8.0M
Other expenses
$34.5M
$33.4M
$27.6M
$26.1M
Total expenses
$1.2B
$1.0B
$895.1M
$769.2M
Operating income (loss)
$273.9M
$172.9M
($40.4M)
$216.1M
Other income and (expenses)
$53.6M
$23.1M
$11.2M
$220.0K
Income (loss) before income taxes
$327.5M
$196.0M
($29.1M)
$216.3M
Provision (benefit) for income taxes
$67.9M
$44.5M
($1.6M)
$47.6M
Net income (loss)
$259.6M
$151.5M
($27.5M)
$168.7M
Net income (loss) attributable to noncontrolling interests
$26.6M
$15.5M
($2.8M)
$18.3M
Net income (loss) attributable to Moelis & Company
$233.0M
$136.0M
($24.7M)
$150.3M
Basic (in shares)
75.0M
71.9M
68.5M
65.8M
Diluted (in shares)
79.2M
76.6M
68.5M
70.3M
Basic (in dollars per share)
$3.11
$1.89
-$0.36
$2.29
Diluted (in dollars per share)
$2.94
$1.78
-$0.36
$2.14
Moelis & Co income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$409.4M
$319.8M
$356.9M
$365.4M
Compensation and benefits
$269.4M
$210.4M
$255.4M
$252.1M
Occupancy
$10.5M
$10.4M
$8.1M
$8.7M
Professional fees
$9.6M
$6.7M
$5.9M
$7.4M
Communication, technology and information services
$14.8M
$15.6M
$14.5M
$13.9M
Travel and related expenses
$15.7M
$18.4M
$11.5M
$13.0M
Depreciation and amortization
$4.2M
$3.5M
$3.0M
$2.8M
Other expenses
$12.4M
$14.2M
$10.2M
$6.9M
Total expenses
$336.6M
$279.3M
$308.6M
$304.7M
Operating income (loss)
$72.8M
$40.5M
$48.3M
$60.6M
Other income and (expenses)
$2.5M
$5.7M
$34.0M
$3.5M
Income (loss) before income taxes
$75.3M
$46.2M
$82.3M
$64.1M
Provision (benefit) for income taxes
$20.2M
$3.9M
$22.2M
$17.4M
Net income (loss)
$55.1M
$42.3M
$60.1M
$46.8M
Net income (loss) attributable to noncontrolling interests
$6.5M
$3.9M
$6.7M
$5.2M
Net income (loss) attributable to Moelis & Company
$48.6M
$38.4M
$53.4M
$41.5M
Basic (in shares)
75.6M
75.4M
75.4M
75.6M
Diluted (in shares)
79.0M
79.5M
79.7M
78.6M
Basic (in dollars per share)
$0.64
$0.51
$0.71
$0.55
Diluted (in dollars per share)
$0.62
$0.48
$0.67
$0.53
Balance sheet
Moelis & Co balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$508.6M
$412.5M
$186.4M
$206.8M
Restricted cash
$770.0K
$712.0K
$798.0K
$745.0K
Accounts receivable, net of allowance for credit losses of $2,125 and $1,666 as of December 31, 2025 and December 31, 2024, respectively
$82.2M
$51.4M
$51.2M
$47.8M
Accrued and other receivables
$28.7M
$22.3M
$12.4M
$8.5M
Total receivables
$110.9M
$73.7M
$63.6M
$56.3M
Deferred compensation
$32.0M
$18.4M
$17.1M
$15.1M
Investments
$369.1M
$184.6M
$210.4M
$265.2M
Right-of-use assets
$216.9M
$180.4M
$172.0M
$152.3M
Equipment and leasehold improvements, net
$89.8M
$65.5M
$63.8M
$57.2M
Deferred tax assets
$370.7M
$410.5M
$437.2M
$429.6M
Prepaid expenses and other assets
$42.0M
$32.7M
$28.4M
$33.5M
Total assets
$1.7B
$1.4B
$1.2B
$1.2B
Compensation payable
$439.4M
$346.3M
$259.8M
$243.2M
Accounts payable, accrued expenses and other liabilities
$43.6M
$33.6M
$32.6M
$11.9M
Amount due pursuant to tax receivable agreement
$301.1M
$290.8M
$304.6M
$302.4M
Deferred revenue
$9.1M
$5.6M
$4.6M
$7.7M
Lease liabilities
$267.2M
$223.2M
$215.7M
$192.8M
Total liabilities
$1.1B
$899.6M
$817.3M
$757.9M
Common stock, par value $0.01 per share
$891000.00
$853000.00
$813000.00
$776000.00
Treasury stock, at cost; 11,514,247 and 10,380,876 shares at December 31, 2025 and December 31, 2024, respectively
-536.3M
-461.7M
-450.9M
-403.9M
Additional paid-in-capital
$1.9B
$1.7B
$1.6B
$1.4B
Retained earnings (accumulated deficit)
($801.2M)
($821.6M)
($767.6M)
($560.7M)
Accumulated other comprehensive income (loss)
($7.1M)
($6.7M)
($3.9M)
($4.5M)
Total Moelis & Company equity
$568.4M
$441.6M
$352.1M
$444.5M
Noncontrolling interests
$111.9M
$37.8M
$10.3M
$14.4M
Total equity
$680.4M
$479.4M
$362.5M
$458.9M
Total liabilities and equity
$1.7B
$1.4B
$1.2B
$1.2B
Moelis & Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$207.7M
$152.9M
$281.6M
$221.7M
Restricted cash
$877.0K
$794.0K
$852.0K
$798.0K
Accounts receivable, net of allowance for credit losses of $3,923 and $2,125 as of June 30, 2026 and December 31, 2025, respectively
$66.9M
$97.9M
$55.2M
$56.5M
Accrued and other receivables
$45.0M
$27.3M
$44.1M
$46.2M
Total receivables
$111.9M
$125.3M
$99.3M
$102.8M
Deferred compensation
$64.0M
$58.0M
$31.1M
$36.2M
Investments
$301.5M
$228.8M
$366.8M
$290.2M
Right-of-use assets
$211.3M
$215.5M
$223.3M
$174.5M
Equipment and leasehold improvements, net
$108.3M
$99.1M
$84.1M
$67.8M
Deferred tax assets
$346.8M
$366.9M
$389.7M
$414.4M
Prepaid expenses and other assets
$55.7M
$42.0M
$40.5M
$34.2M
Total assets
$1.4B
$1.3B
$1.5B
$1.3B
Compensation payable
$189.4M
$64.8M
$293.6M
$189.2M
Accounts payable, accrued expenses and other liabilities
$31.3M
$57.9M
$34.9M
$32.5M
Amount due pursuant to tax receivable agreement
$269.6M
$269.3M
$299.2M
$298.8M
Deferred revenue
$13.6M
$7.8M
$3.2M
$7.2M
Lease liabilities
$262.8M
$267.2M
$267.7M
$218.8M
Total liabilities
$766.6M
$667.0M
$898.6M
$746.5M
Common stock, par value $0.01 per share
$921000.00
$920000.00
$890000.00
$890000.00
Treasury stock, at cost; 13,788,651 and 11,514,247 shares at June 30, 2026 and December 31, 2025, respectively
-677.1M
-653.6M
-490.2M
-475.0M
Additional paid-in-capital
$2.0B
$2.0B
$1.9B
$1.8B
Retained earnings (accumulated deficit)
($822.4M)
($817.3M)
($836.7M)
($837.6M)
Accumulated other comprehensive income (loss)
($7.3M)
($7.3M)
($5.8M)
($4.4M)
Total Moelis & Company equity
$505.8M
$487.1M
$535.0M
$516.0M
Noncontrolling interests
$135.8M
$135.1M
$83.6M
$80.0M
Total equity
$641.6M
$622.2M
$618.6M
$596.0M
Total liabilities and equity
$1.4B
$1.3B
$1.5B
$1.3B
Cash flow statement
Moelis & Co cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$259.6M
$151.5M
($27.5M)
$168.7M
Bad debt expense (benefit)
$739.0K
$1.6M
$1.1M
$2.6M
Depreciation and amortization
$11.9M
$10.4M
$8.3M
$8.0M
Equity-based compensation
$230.3M
$161.4M
$158.2M
$128.9M
Deferred tax provision (benefit)
$50.0M
$35.1M
($4.3M)
$26.8M
Gain on partial sale of equity method investment
($19.1M)
—
—
—
Other
($13.3M)
($13.4M)
($11.4M)
$12.1M
Accounts receivable
($31.2M)
($1.8M)
($4.0M)
($20.3M)
Accrued and other receivables
($5.5M)
($2.8M)
($3.9M)
$22.0M
Prepaid expenses and other assets
($8.9M)
($4.4M)
$5.3M
($15.0M)
Deferred compensation
($13.5M)
($1.3M)
($2.0M)
($3.8M)
Compensation payable
$91.3M
$87.1M
$14.9M
($255.3M)
Accounts payable, accrued expenses and other liabilities
$18.2M
$21.0K
$23.7M
($45.0M)
Deferred revenue
$3.4M
$944.0K
($3.1M)
$3.2M
Dividends received from equity method investment
$2.3M
$3.1M
$3.1M
$2.9M
Net cash provided by (used in) operating activities
$576.3M
$427.5M
$158.5M
$33.0M
Purchases of investments
($524.8M)
($169.5M)
($210.6M)
($334.7M)
Proceeds from sales of investments
$335.8M
$188.3M
$275.8M
$332.5M
Note payments (issued to) employees
($845.0K)
—
—
—
Note payments received from employees
$250.0K
—
—
—
Proceeds from partial sale of equity method investment
$29.9M
$17.0M
—
—
Purchases of equipment and leasehold improvements
($36.3M)
($12.1M)
($16.7M)
($6.0M)
Net cash provided by (used in) investing activities
($196.0M)
$17.1M
$48.6M
($11.2M)
Payments for dividends and tax distributions
($208.7M)
($184.2M)
($182.2M)
($174.7M)
Payments for treasury stock purchases
($74.6M)
($10.8M)
($47.0M)
($147.5M)
Payments under tax receivable agreement
($314.0K)
($20.1M)
—
($6.6M)
Other distributions
($288.0K)
$0
($15.0K)
$1.9M
Net cash provided by (used in) financing activities
($283.9M)
($215.1M)
($229.2M)
($326.9M)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash
($243.0K)
($3.5M)
$1.8M
($8.4M)
Net increase (decrease) in cash, cash equivalents, and restricted cash
$96.2M
$226.0M
($20.3M)
($313.5M)
Cash, cash equivalents, and restricted cash, beginning of period
$413.2M
$187.2M
$207.5M
$521.0M
Cash, cash equivalents, and restricted cash, end of period
$509.4M
$413.2M
$187.2M
$207.5M
Income taxes, net
$9.3M
$2.6M
($3.6M)
$76.4M
Class A Partnership Units or other equity converted into Class A Common Stock
$2.8M
$1.7M
$704.0K
$7.5M
Dividends in kind
$20.9M
$20.2M
$21.9M
$20.8M
Non-cash settlement of accounts receivable
$0
$261.0K
—
$10.8M
Forfeiture of fully-vested stock-based awards
$6.5M
$876.0K
$889.0K
—
Moelis & Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$97.4M
$42.3M
$160.6M
$100.5M
Bad debt expense (benefit)
$2.2M
$892.0K
$1.0M
$236.0K
Depreciation and amortization
$7.7M
$3.5M
$8.5M
$5.5M
Equity-based compensation
$117.7M
$72.2M
$168.0M
$127.8M
Deferred tax provision (benefit)
$24.0M
$3.9M
$28.7M
$6.7M
Other
$2.0M
($198.0K)
($11.7M)
($845.0K)
Accounts receivable
$12.0M
($16.9M)
($4.7M)
($3.5M)
Accrued and other receivables
($13.0M)
$347.0K
($21.9M)
($23.8M)
Prepaid expenses and other assets
($15.5M)
($177.0K)
($7.5M)
($1.1M)
Deferred compensation
($33.0M)
($26.1M)
($12.6M)
($17.5M)
Compensation payable
($246.9M)
($374.6M)
($54.4M)
($158.4M)
Accounts payable, accrued expenses and other liabilities
($9.9M)
$16.1M
$2.6M
($90.0K)
Deferred revenue
$4.7M
($1.3M)
($2.4M)
$1.5M
Dividends received from equity method investment
$1.3M
$1.3M
$2.3M
$1.6M
Net cash provided by (used in) operating activities
($49.3M)
($278.8M)
$237.6M
$38.7M
Purchases of investments
($316.0M)
($201.7M)
($408.5M)
($256.7M)
Proceeds from sales of investments
$381.8M
$341.2M
$219.4M
$151.4M
Note payments (issued to) employees
($8.2M)
($3.3M)
—
—
Note payments received from employees
$4.4M
$4.2M
—
—
Purchases of equipment and leasehold improvements
($26.5M)
($12.8M)
($27.2M)
($7.9M)
Net cash provided by (used in) investing activities
$35.6M
$127.6M
($186.2M)
($113.1M)
Payments for dividends and tax distributions
($112.8M)
($54.9M)
($155.6M)
($104.2M)
Payments for treasury stock purchases
($140.8M)
($117.3M)
($28.5M)
($13.3M)
Payments under tax receivable agreement
($32.2M)
($32.2M)
($314.0K)
($314.0K)
Net cash provided by (used in) financing activities
($285.7M)
($204.4M)
($184.4M)
($117.8M)
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash
($1.3M)
($14.0K)
$2.3M
$1.5M
Net increase (decrease) in cash, cash equivalents, and restricted cash
($300.7M)
($355.6M)
($130.7M)
($190.7M)
Cash, cash equivalents, and restricted cash, beginning of period
$509.4M
$509.4M
$413.2M
$413.2M
Cash, cash equivalents, and restricted cash, end of period
$208.6M
$153.7M
$282.4M
$222.5M
Income taxes, net
$27.1M
($2.0M)
$5.7M
$4.8M
Effect of changes in ownership and exchanges of Class A partnership units