MC Moelis & Co

Overview and Growth

Moelis & Co recorded fiscal 2025 net income of $233.04M. The company employed $1.74B of total assets, the balance-sheet base supporting its current operating and cash-flow results.

Profitability

The reported operating result was $273.86M, capturing profitability after direct costs and the operating expenses reflected in the statements. The bottom-line result was net income of $233.04M, after the operating, financing, tax, and other items recognized for the period. EBITDA was $285.74M, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. Before income taxes, the company reported $327.47M of earnings, providing a bridge between the operating result and final net income. The reported income-tax provision was $67.85M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 20.7%, without assuming a statutory-rate comparison. Net income equaled 34.3% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 13.4%, showing earnings relative to the full balance sheet. Against $136.02M in fiscal 2024, the current $233.04M bottom line finished above the prior-year result in absolute terms.

Liquidity and Capital Structure

Total assets were $1.74B, supported by $1.06B of liabilities and $680.38M of shareholder equity. Reported cash and equivalents were $508.60M, separating immediately recognizable cash resources from the rest of the current-asset base. Book equity represented 39.1% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 60.9% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 29.2%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 26.2% higher than fiscal 2024 assets of $1.38B, measuring the company’s own balance-sheet change. Against $479.38M of equity in fiscal 2024, the current book-equity balance moved 41.9% and ended higher. Compared with $412.47M in fiscal 2024, the current cash balance moved 23.3% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was $576.30M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.47x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $36.33M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 6.3%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $539.97M of positive free cash flow for the period. Measured against total assets, free cash flow represented 31.0%, showing the cash productivity of the company’s assets. Operating cash flow of $576.30M finished above fiscal 2024 operating cash flow of $427.49M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.