Mister Car Wash Inc. (MCW) financial statements: income statement, balance sheet and cash flow

Mister Car Wash Inc.'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), Mister Car Wash Inc. reported revenue of $1.1B (+5.7% year on year) and net income of $103.1M (+46.8% year on year).

Income statement

Mister Car Wash Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net revenues	$1.1B	$994.7M	$927.1M	$876.5M
Cost of labor and chemicals	$302.3M	$290.7M	$279.4M	$268.5M
Other store operating expenses	$436.7M	$404.7M	$363.7M	$322.4M
General and administrative	$98.0M	$108.0M	$105.7M	$98.9M
Loss on sale of assets, net	$14.5M	$12.4M	$125.0K	($949.0K)
Total costs and expenses	$851.5M	$815.8M	$748.9M	$688.8M
Operating income	$200.2M	$178.9M	$178.1M	$187.7M
Interest expense, net	$58.9M	$79.5M	$75.1M	$41.9M
Loss on extinguishment of debt	$540.0K	$2.0M	$0	$0
Other income	($56.0K)	($5.2M)	—	—
Total other expense, net	$59.4M	$76.3M	$75.1M	$41.9M
Income before taxes	$140.8M	$102.7M	$103.0M	$145.8M
Income tax provision	$37.8M	$32.4M	$22.9M	$32.9M
Net income	$103.1M	$70.2M	$80.1M	$112.9M
Loss on interest rate swap	($293.0K)	—	—	—
Total comprehensive income	$102.8M	—	$80.1M	$112.9M
Basic	$0.32	$0.22	$0.26	$0.37
Diluted	$0.31	$0.21	$0.24	$0.34
Basic	326.3M	320.0M	311.0M	303.4M
Diluted	332.1M	329.5M	328.2M	327.6M

Mister Car Wash Inc. income statement, quarters

Line item	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2	Mar 31, 2025 · Q1
Net revenues	$277.9M	$263.4M	$265.4M	$261.7M
Cost of labor and chemicals	$76.7M	$76.6M	$76.6M	$74.3M
Other store operating expenses	$113.3M	$109.5M	$108.8M	$109.7M
General and administrative	$28.8M	$22.7M	$25.1M	$24.7M
Loss on sale of assets, net	$125.0K	$2.8M	$679.0K	$111.0K
Total costs and expenses	$218.9M	$211.6M	$211.3M	$208.7M
Operating income	$59.0M	$51.9M	$54.1M	$53.0M
Interest expense, net	$12.3M	$14.1M	$15.2M	$16.0M
Total other expense	$12.3M	$14.1M	$15.2M	$16.0M
Income before taxes	$46.7M	$37.8M	$39.0M	$36.9M
Income tax provision	$12.5M	$10.4M	$10.4M	$9.9M
Net income	$34.2M	$27.4M	$28.6M	$27.0M
Gain on interest rate swap	$785.0K	($266.0K)	$350.0K	—
Total comprehensive income	$35.0M	$27.1M	$28.9M	—
Basic	$0.10	$0.08	$0.09	$0.08
Diluted	$0.10	$0.08	$0.09	$0.08
Basic	328.5M	327.4M	325.6M	324.2M
Diluted	334.3M	332.4M	331.8M	331.5M

Balance sheet

Mister Car Wash Inc. 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	$28.4M	$67.5M	$19.0M	$65.2M
Accounts receivable, net	$639.0K	$791.0K	$6.3M	$3.9M
Other receivables	$15.5M	$13.5M	$14.7M	$15.2M
Inventory, net	$5.5M	$5.7M	$9.0M	$9.2M
Prepaid expenses and other current assets	$9.6M	$11.6M	$11.8M	$12.6M
Total current assets	$59.7M	$99.1M	$60.9M	$106.1M
Property and equipment, net	$914.0M	$814.6M	$725.1M	$560.9M
Operating lease right of use assets, net	$942.7M	$924.9M	$833.5M	$776.7M
Other intangible assets, net	$110.8M	$112.5M	$117.7M	$123.6M
Goodwill	$1.1B	$1.1B	$1.1B	$1.1B
Other assets	$11.1M	$16.0M	$9.6M	$9.1M
Total assets	$3.2B	$3.1B	$2.9B	$2.7B
Accounts payable	$27.8M	$30.0M	$33.6M	$25.6M
Accrued payroll and related expenses	$25.1M	$27.1M	$19.8M	$17.2M
Other accrued expenses	$41.5M	$39.2M	$38.7M	$41.2M
Current maturities of long-term debt	$0	$6.9M	—	—
Current maturities of operating lease liability	$53.6M	$49.0M	$44.0M	$40.4M
Current maturities of finance lease liability	$879.0K	$804.0K	$746.0K	$668.0K
Deferred revenue	$35.9M	$34.0M	$32.7M	$29.4M
Total current liabilities	$184.8M	$187.0M	$169.6M	$154.5M
Long-term debt, net	$796.9M	$909.1M	$897.4M	$895.8M
Operating lease liability	$906.4M	$890.6M	$809.4M	$759.8M
Financing lease liability	$12.3M	$13.3M	$14.0M	$14.8M
Deferred tax liabilities, net	$137.5M	$101.7M	$71.7M	$53.4M
Other long-term liabilities	$2.1M	$1.8M	$4.4M	$6.8M
Total liabilities	$2.0B	$2.1B	$2.0B	$1.9B
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 328,282,533 and 323,639,863 shares outstanding as of December 31, 2025 and 2024, respectively	3.3M	3.2M	3.2M	3.1M
Additional paid-in capital	$862.1M	$830.3M	$817.3M	$783.6M
Accumulated other comprehensive loss	($293.0K)	—	$0	$0
Retained earnings	$267.9M	$164.8M	$94.6M	$14.5M
Total stockholders’ equity	$1.1B	$998.4M	$915.0M	$801.1M
Total liabilities and stockholders’ equity	$3.2B	$3.1B	$2.9B	$2.7B

Mister Car Wash Inc. balance sheet, quarters

Line item	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025
Cash and cash equivalents	$54.6M	$35.7M	$26.4M	$39.1M
Accounts receivable, net	$850.0K	$2.7M	$2.6M	$437.0K
Other receivables	$17.6M	$14.5M	$11.4M	$11.7M
Inventory, net	$5.1M	$5.4M	$5.4M	$5.2M
Prepaid expenses and other current assets	$10.7M	$10.6M	$11.8M	$9.2M
Total current assets	$88.8M	$68.8M	$57.7M	$65.7M
Property and equipment, net	$930.4M	$915.5M	$880.5M	$843.7M
Operating lease right of use assets, net	$930.9M	$901.6M	$905.2M	$918.6M
Other intangible assets, net	$110.4M	$111.1M	$111.6M	$112.0M
Goodwill	$1.1B	$1.1B	$1.1B	$1.1B
Other assets	$10.8M	$11.2M	$16.3M	$15.8M
Total assets	$3.2B	$3.1B	$3.1B	$3.1B
Accounts payable	$25.7M	$36.1M	$31.1M	$36.2M
Accrued payroll and related expenses	$27.1M	$30.2M	$22.0M	$28.2M
Other accrued expenses	$36.7M	$37.6M	$34.9M	$43.0M
Current maturities of operating lease liability	$54.5M	$52.3M	$51.0M	$50.1M
Current maturities of finance lease liability	$903.0K	$857.0K	$834.0K	$812.0K
Deferred revenue	$37.7M	$36.7M	$36.5M	$35.2M
Total current liabilities	$182.7M	$193.7M	$176.4M	$193.6M
Long-term debt, net	$790.0M	$827.2M	$849.1M	$853.9M
Operating lease liability	$895.3M	$871.3M	$874.9M	$884.8M
Financing lease liability	$12.1M	$12.6M	$12.8M	$13.0M
Deferred tax liabilities, net	$148.8M	$130.6M	$119.0M	$109.2M
Other long-term liabilities	$1.9M	$2.4M	$2.9M	$2.2M
Total liabilities	$2.0B	$2.0B	$2.0B	$2.1B
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 327,532,052 and 328,282,533 shares outstanding as of March 31, 2026 and December 31, 2025, respectively	3.3M	3.3M	3.3M	3.3M
Additional paid-in capital	$869.3M	$853.9M	$846.9M	$838.8M
Accumulated other comprehensive income	$492.0K	$84.0K	$350.0K	—
Retained earnings	$302.1M	$247.9M	$220.4M	$191.8M
Total stockholders’ equity	$1.2B	$1.1B	$1.1B	$1.0B
Total liabilities and stockholders’ equity	$3.2B	$3.1B	$3.1B	$3.1B

Cash flow statement

Mister Car Wash Inc. 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	$103.1M	$70.2M	$80.1M	$112.9M
Depreciation and amortization expense	$88.2M	$81.4M	$70.0M	$61.6M
Stock-based compensation expense	$26.6M	$25.6M	$24.0M	$22.3M
Loss on sale of assets, net	$14.5M	$12.4M	$125.0K	$949.0K
Loss on extinguishment of debt	$540.0K	$2.0M	$0	$0
Amortization of deferred debt issuance costs	$1.1M	$1.3M	$1.7M	$1.7M
Non-cash lease expense	$55.5M	$49.9M	$45.1M	$41.1M
Deferred income tax	$35.8M	$30.1M	$18.1M	$29.4M
Accounts receivable, net	$152.0K	$5.5M	($2.4M)	($2.7M)
Other receivables	$338.0K	$373.0K	$960.0K	$7.6M
Inventory, net	$274.0K	$3.2M	$357.0K	($2.7M)
Prepaid expenses and other current assets	$1.9M	$365.0K	$810.0K	($4.3M)
Accounts payable	$2.7M	$3.4M	($113.0K)	$5.6M
Accrued expenses	$941.0K	$9.2M	$6.1M	$2.4M
Deferred revenue	$1.8M	$1.3M	$3.2M	$1.1M
Operating lease liability	($48.1M)	($42.8M)	($40.4M)	($42.6M)
Other noncurrent assets and liabilities	$261.0K	($4.7M)	($3.0M)	($3.0M)
Net cash provided by operating activities	$285.7M	$248.6M	$204.7M	$229.2M
Purchases of property and equipment	($255.4M)	($330.1M)	($328.1M)	($191.6M)
Acquisition of car wash operations, net of cash	$0	$0	($51.2M)	($86.7M)
Proceeds from sale of property and equipment	$48.6M	$130.2M	$120.0M	$88.2M
Net cash used in investing activities	($206.8M)	($199.9M)	($259.4M)	($190.1M)
Proceeds from issuance of common stock under employee plans	$5.5M	$6.5M	$9.8M	$9.0M
Payments of tax withholding on option exercises	$0	($19.3M)	—	—
Proceeds from debt borrowings	$0	$925.0M	$0	$0
Proceeds from revolving line of credit	$0	$217.0M	—	$0
Payments on debt borrowings	($120.3M)	($905.8M)	$0	($2.1M)
Payments on revolving line of credit	$0	($217.0M)	—	$0
Payments of deferred debt issuance costs	$0	($5.5M)	$0	$0
Principal payments on finance lease obligations	($793.0K)	($748.0K)	($668.0K)	($577.0K)
Other financing activities	($2.4M)	($422.0K)	($500.0K)	—
Net cash provided by (used in) financing activities	($118.0M)	($275.0K)	$8.6M	$6.3M
Net change in cash and cash equivalents and restricted cash during period	($39.1M)	$48.5M	($46.1M)	$45.4M
Cash and cash equivalents and restricted cash at beginning of period	$67.6M	$19.1M	$65.2M	$19.9M
Cash and cash equivalents and restricted cash at end of period	$28.5M	$67.6M	$19.1M	$65.2M
Cash and cash equivalents	$28.4M	$67.5M	—	—
Restricted cash, included in prepaid expenses and other current assets	$61.0K	$149.0K	—	—
Total cash, cash equivalents, and restricted cash	$28.5M	$67.6M	—	—
Cash paid for interest	$60.4M	$78.1M	$75.7M	$40.6M
Cash paid for income taxes	$2.5M	$2.5M	$4.2M	$2.2M
Property and equipment in accounts payable	$5.9M	$10.9M	$17.9M	$9.8M
Property and equipment accrued in other accrued expenses	$11.2M	$9.7M	$13.3M	$18.8M
Stock option exercise proceeds in other receivables	$0	$294.0K	$0	$25.0K

Mister Car Wash Inc. cash flow statement, quarters

Line item	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD	Mar 31, 2025 · Q1
Net income	$34.2M	$83.0M	$55.6M	$27.0M
Depreciation and amortization expense	$23.4M	$65.1M	$42.7M	$20.9M
Stock-based compensation expense	$6.8M	$19.9M	$13.3M	$6.8M
Loss on sale of assets, net	$125.0K	$3.5M	$790.0K	$111.0K
Amortization of deferred debt issuance costs	$262.0K	$865.0K	$574.0K	$285.0K
Non-cash lease expense	$14.7M	$41.2M	$27.3M	$13.5M
Deferred income tax	$11.0M	$28.8M	$17.1M	$7.5M
Accounts receivable, net	($211.0K)	($1.9M)	($1.9M)	$354.0K
Other receivables	($2.1M)	$1.4M	$230.0K	$2.0M
Inventory, net	$430.0K	$344.0K	$314.0K	$490.0K
Prepaid expenses and other current assets	($315.0K)	$1.5M	$969.0K	$2.4M
Accounts payable	($2.0M)	$7.7M	$2.5M	$5.7M
Accrued expenses	$4.1M	$7.2M	($3.8M)	$10.5M
Deferred revenue	$1.8M	$2.7M	$2.6M	$1.3M
Operating lease liability	($12.8M)	($35.9M)	($23.7M)	($11.6M)
Other noncurrent assets and liabilities	$257.0K	$282.0K	($217.0K)	$391.0K
Net cash provided by operating activities	$79.7M	$225.7M	$134.4M	$87.5M
Purchases of property and equipment	($46.7M)	($178.7M)	($113.1M)	($55.1M)
Proceeds from sale of property and equipment	$187.0K	$6.9M	$1.8M	$120.0K
Net cash used in investing activities	($46.5M)	($171.8M)	($111.3M)	($55.0M)
Proceeds from issuance of common stock under employee plans	$372.0K	$4.1M	$3.7M	$1.6M
Payments on debt borrowings	($7.0M)	($89.3M)	($67.3M)	($62.3M)
Principal payments on finance lease obligations	($212.0K)	($585.0K)	($387.0K)	($193.0K)
Net cash used in financing activities	($6.8M)	($85.8M)	($64.0M)	($60.9M)
Net change in cash and cash equivalents and restricted cash during period	$26.3M	($31.8M)	($41.0M)	($28.3M)
Cash and cash equivalents and restricted cash at beginning of period	$28.5M	$67.6M	$67.6M	$67.6M
Cash and cash equivalents and restricted cash at end of period	$54.8M	$35.8M	$26.6M	$39.3M
Cash and cash equivalents	$54.6M	$35.7M	$26.4M	$39.1M
Restricted cash, included in prepaid expenses and other current assets	$205.0K	$114.0K	$224.0K	$155.0K
Total cash, cash equivalents, and restricted cash	$54.8M	$35.8M	$26.6M	$39.3M
Cash paid for interest	$12.3M	$46.7M	$32.2M	$7.0M
Cash paid for income taxes	$40.0K	$2.3M	$2.2M	$60.0K
Property and equipment in accounts payable	$5.8M	$9.3M	$9.5M	$11.4M
Property and equipment accrued in other accrued expenses	$4.5M	$3.8M	$4.0M	$4.2M
Stock option exercise proceeds in other receivables	$0	$0	—	$113.0K

Mister Car Wash Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.