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Medifast Inc (MED) stock

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NYSE: MED NYSE Packaged Foods & Meats Next results ~January 25, 2027

D Fundamentals grade

Medifast Inc is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$35

Cash-flow model

Base case. Range ~$30–$42 across our lower- and higher-growth cases (-1%–9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 183% above it.

Price used: $12.53, November 2, 2026

Medifast Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 1 selling13 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds67 adding, 52 cuttingOf 26 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Medifast files

Where Medifast stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $300m, down 30.3% on a year earlier, a smaller fall than the 34.0% decline a quarter earlier. That puts it 29 of 30 for growth among the packaged foods & meats companies we cover. Free-cash-flow margin fell to -1.3% from 0.2% a year earlier. Operating margin narrowed to -11.6% from -1.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $36.90 a share, against a share price of $12.49.

Source: 10-Q filed October 26, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 25, 2027 (estimated)

Medifast Inc's trailing-twelve-month revenue fell 30.3% year on year, with a free-cash-flow margin of -1.3%. Where it stands out: gross margin of 69.2% ranks 2 of 43 packaged foods & meats companies we cover. Where it lags: revenue growth of -30.3% ranks 42 of 44 packaged foods & meats companies we cover.

Our discounted-cash-flow model values the business at ~$35 per share in the base case (~$30–$42 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin compressing: TTM gross margin fell to 69.2%, down 3.2pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $12.53 is 183% below our value per share of $35.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 30.3% over the last 12 months.
  • Loss-making. Operating margin is -11.6%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 10.3 points on a year ago.
  • Burning cash. Free cash flow was -1.3% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 53% and a beta of 1.1 against the S&P 500.
  • Gross margin slipping. Gross margin is down 3.2 points on a year ago.

Latest results: FY2026 Q3

Filed October 26, 2026
Earnings per share
-$0.19 against an average estimate of -$0.35: beat by 45.7%
Revenue
$72m, down 19.4% on a year earlier
Share reaction
+5.2% in the first session after the results on October 26, 2026, against +1.3% for the S&P 500
Next report
October 26, 2026; average EPS estimate $0.01

Medifast's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.1%
  • 1 week+3.5%
  • 1 month+6.8%
  • This year+17.3%
  • 1 year+4.2%
  • 5 years-93.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$300M
Operating margin
-11.6%
Net margin
-13.6%
EPS (TTM, diluted)
$-3.69

Growth

Revenue growth
−30.3%
Change in growth rate
+3.8 pts
Share count change
+0.6%

Cash

Free cash flow (TTM)
-$3.9M
FCF margin
-1.3%
Stock pay % of revenue
2.6%

Earnings

Last results
October 26, 2026
Next results (est.)
January 25, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Medifast Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking more than 30% a year in our model.

  • Last 12 months-30.3%
  • 3 years a year-37.4%
  • 5 years a year-27.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($12.61, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$35
Price used
$12.61close November 3, 2026
Implied change
▲ +181%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Medifast Inc's free cash flow after stock-based pay with after-tax interest added back ($12.9M, FY2026 Q3 TTM), growing -1.1% and 2.8% in the next two years (forecasts, guidance and its record), then back to 4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$30–~$42 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Medifast Inc's free cash flow after stock-based pay ( $12.9M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Medifast Inc as an operating company, with every model that fits that kind of business. Cost of equity 7.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.56 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$35 ~$30–$42 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$71 ~$54–$96 Left out: out of range vs price (5.64x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$90 ~$74–$120 Left out: out of range vs price (7.20x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$35 ~$30–$42 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Medifast Inc with Packaged Foods & Meats in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $32$38$46$56$70$87
8.5% $28$32$38$46$55$68
10% $26$29$34$39$47$56

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$23.19$32.76$56.46$102.82$92.81$172.79$188.97$109.01$67.22$17.62$10.68$12.53
Market value$280m$391m$683m$1.2bn$1.1bn$2.0bn$2.2bn$1.2bn$734m$193m$117m$139m
+ Net debt (− = net cash)−$42m−$52m−$75m−$81m−$77m−$164m−$104m−$88m−$94m−$91m−$89m−$58m
Enterprise value$238m$339m$607m$1.2bn$1.0bn$1.9bn$2.1bn$1.1bn$640m$102m$28m$80m
Multiples
Price / sales 1.0x1.4x2.3x2.5x1.6x2.2x1.5x0.8x0.7x0.3x0.3x0.5x
Price / earnings 14.0x21.9x24.6x22.3x14.4x19.9x13.6x8.6x7.4x92.4x——
Price / free cash flow 10.5x17.4x17.1x22.2x15.2x14.7x37.0x6.9x5.2x11.3x93.9x—
EV / EBITDA 6.6x10.5x13.9x15.8x11.0x13.6x9.5x5.8x4.6x6.6xn/m—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

75 /100

Strong moat

How hard Medifast's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 28.0% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 74.0%, moving by 2.0 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 12.6%; its worst year was -11.6%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 9 of 10 years, at a median 8.6% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.7% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.86 +49% $289m —
Next −$0.04 +95% $275m −5%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −53.5% on 90 days ago. In the last 30 days, 1 analyst raised Medifast Inc's forecast and 0 cut it.

Consensus EPS forecast Medifast Inc, last 90 days
−$2.00 −$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.85 Current fiscal year, 60 days ago: −$1.15 Current fiscal year, 30 days ago: −$1.15 Current fiscal year, 7 days ago: −$1.15 Current fiscal year, Now: −$0.86 −$0.86 Next fiscal year, 90 days ago: −$0.60 Next fiscal year, 60 days ago: −$0.28 Next fiscal year, 30 days ago: −$0.28 Next fiscal year, 7 days ago: −$0.28 Next fiscal year, Now: −$0.04 −$0.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.85−$0.60
60 days ago −$1.15−$0.28
30 days ago −$1.15−$0.28
7 days ago −$1.15−$0.28
Now −$0.86−$0.04

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.35 −$0.19 +45.7%
Jun 2026 −$0.65 −$0.28 +56.9%
Mar 2026 −$0.52 −$0.19 +63.5%
Dec 2025 −$0.82 −$1.65 −101.2%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Medifast Inc's revenue by -1.1% next year and +2.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-7.2%, weight 45%) and the company's own record (+4.0%, weight 55%) . How the weights are set.

Analyst recommendations

1 analysts, Oct 2026
Buy00%
Hold1100%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611
  3. Aug 202611

Counts of recommendations published by analysts covering Medifast Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.7%
of tradable shares
Days to cover
9.59
at average volume
Short interest, 1 month
−38%
to October 15, 2026
Held by institutions
74%
of shares
Held by insiders
4.3%
of shares
Employees
380
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +4.2%

$12.02 on October 31, 2025 to $12.53

ThenNowEffect
Revenue (last 12 months) $480m $317m −34.0%
P/S multiple 0.3x 0.4x +58.4%
Share count 11m 11m −0.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −82.1%

$69.92 on November 3, 2023 to $12.53

ThenNowEffect
Revenue (last 12 months) $1.4bn $317m −76.9%
P/S multiple 0.6x 0.4x −22.0%
Share count 11m 11m −0.5%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MED+9%−42%−38%−74%−39%+17%
Industry peers (median)+8%−3%−4%−2%−16%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MED67%33%33%25%17%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MED−43%−51%−50%−76%−41%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 97% from May 28, 2021 to July 23, 2026. Getting back needed a 3014% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.45 – $13.15
From 52-week high
−4.7%
vs 50-day average
+4.4%
vs 200-day average
+10.7%
Volatility (1 year)
53%
Beta vs S&P 500
1.15

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±10.8%
After a week
5 up, 7 down
typical move ±10.6%
After a month
5 up, 6 down
typical move ±13.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 26, 2026 +5.2% +1.3% +5.6% —
August 3, 2026 +33.1% +3.3% +23.0% +23.0%
May 4, 2026 +19.3% +0.4% +13.7% +12.2%
February 17, 2026 −0.6% +0.7% −2.7% −6.2%
November 3, 2025 −0.3% −1.0% −1.9% −8.4%
August 4, 2025 −4.9% +1.0% −6.7% +1.5%
April 28, 2025 +1.3% +0.7% +6.2% +9.2%
February 18, 2025 −11.8% +0.5% −11.2% −12.8%
November 4, 2024 +9.8% +1.0% +4.6% +6.2%
August 5, 2024 −5.6% −2.0% −10.0% −11.8%
April 29, 2024 −18.3% −1.2% −25.3% −25.4%
February 20, 2024 −19.2% −0.5% −16.5% −28.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Medifast Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.65× the last 60 days’ realised volatility , richer than 98% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Medifast Inc in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Medifast Inc
$0 $500M $1B $1.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $897.8M Revenue (TTM), FY24 Q2: $770.2M Revenue (TTM), FY24 Q3: $674.5M Revenue (TTM), FY24 Q4: $602.5M Revenue (TTM), FY25 Q1: $543.5M Revenue (TTM), FY25 Q2: $480.4M Revenue (TTM), FY25 Q3: $429.7M Revenue (TTM), FY25 Q4: $385.8M Revenue (TTM), FY26 Q1: $346.1M Revenue (TTM), FY26 Q2: $316.9M Revenue (TTM), FY26 Q3: $299.6M $299.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.1B
FY24 Q1 $897.8M
FY24 Q2 $770.2M
FY24 Q3 $674.5M
FY24 Q4 $602.5M
FY25 Q1 $543.5M
FY25 Q2 $480.4M
FY25 Q3 $429.7M
FY25 Q4 $385.8M
FY26 Q1 $346.1M
FY26 Q2 $316.9M
FY26 Q3 $299.6M
Revenue growth, TTM YoY Medifast Inc
-60% -40% -20% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -32.9% Revenue growth, TTM YoY, FY24 Q1: -41.3% Revenue growth, TTM YoY, FY24 Q2: -43.9% Revenue growth, TTM YoY, FY24 Q3: -44.6% Revenue growth, TTM YoY, FY24 Q4: -43.8% Revenue growth, TTM YoY, FY25 Q1: -39.5% Revenue growth, TTM YoY, FY25 Q2: -37.6% Revenue growth, TTM YoY, FY25 Q3: -36.3% Revenue growth, TTM YoY, FY25 Q4: -36.0% Revenue growth, TTM YoY, FY26 Q1: -36.3% Revenue growth, TTM YoY, FY26 Q2: -34.0% Revenue growth, TTM YoY, FY26 Q3: -30.3% -30.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -32.9%
FY24 Q1 -41.3%
FY24 Q2 -43.9%
FY24 Q3 -44.6%
FY24 Q4 -43.8%
FY25 Q1 -39.5%
FY25 Q2 -37.6%
FY25 Q3 -36.3%
FY25 Q4 -36.0%
FY26 Q1 -36.3%
FY26 Q2 -34.0%
FY26 Q3 -30.3%
Operating margin (TTM) Medifast Inc
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 11.8% Operating margin (TTM), FY24 Q1: 9.0% Operating margin (TTM), FY24 Q2: 4.4% Operating margin (TTM), FY24 Q3: 1.6% Operating margin (TTM), FY24 Q4: 0.5% Operating margin (TTM), FY25 Q1: -1.2% Operating margin (TTM), FY25 Q2: 0.1% Operating margin (TTM), FY25 Q3: -1.3% Operating margin (TTM), FY25 Q4: -3.7% Operating margin (TTM), FY26 Q1: -4.7% Operating margin (TTM), FY26 Q2: -6.2% Operating margin (TTM), FY26 Q3: -11.6% -11.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 11.8%
FY24 Q1 9.0%
FY24 Q2 4.4%
FY24 Q3 1.6%
FY24 Q4 0.5%
FY25 Q1 -1.2%
FY25 Q2 0.1%
FY25 Q3 -1.3%
FY25 Q4 -3.7%
FY26 Q1 -4.7%
FY26 Q2 -6.2%
FY26 Q3 -11.6%
FCF margin (TTM) Medifast Inc
-5% 0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 13.2% FCF margin (TTM), FY24 Q1: 9.4% FCF margin (TTM), FY24 Q2: 7.1% FCF margin (TTM), FY24 Q3: 5.0% FCF margin (TTM), FY24 Q4: 2.8% FCF margin (TTM), FY25 Q1: 2.5% FCF margin (TTM), FY25 Q2: -0.5% FCF margin (TTM), FY25 Q3: 0.2% FCF margin (TTM), FY25 Q4: 0.3% FCF margin (TTM), FY26 Q1: -0.4% FCF margin (TTM), FY26 Q2: 1.3% FCF margin (TTM), FY26 Q3: -1.3% -1.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 13.2%
FY24 Q1 9.4%
FY24 Q2 7.1%
FY24 Q3 5.0%
FY24 Q4 2.8%
FY25 Q1 2.5%
FY25 Q2 -0.5%
FY25 Q3 0.2%
FY25 Q4 0.3%
FY26 Q1 -0.4%
FY26 Q2 1.3%
FY26 Q3 -1.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 170 258 298 319 324 285 273 275 302 501 714 935 1,526 1,599 1,072 602 386 300
Gross profit 124 192 224 236 241 209 201 206 228 380 537 698 1,128 1,140 776 445 275 207
EBITDA 24 37 36 36 46 38 36 32 44 73 96 138 223 196 140 16 0 −22
Operating income 18 32 27 27 38 30 29 27 40 69 91 134 216 185 126 3 −14 −35
Net income 11 20 19 16 24 13 20 18 28 56 78 103 164 144 99 2 −19 −41
Diluted EPS $0.77 $1.35 $1.31 $1.16 $1.73 $1.03 $1.66 $1.49 $2.29 $4.62 $6.43 $8.68 $13.89 $12.73 $9.10 $0.19 −$1.70 −$3.69
Growth (year on year)
Revenue — +51.7% +15.8% +6.8% +1.7% −12.0% −4.4% +0.6% +9.8% +66.1% +42.4% +31.0% +63.2% +4.8% −32.9% −43.8% −36.0% −30.3%
EBITDA — +57.8% −4.7% −0.6% +30.4% −17.3% −6.5% −9.9% +35.9% +67.6% +30.2% +44.8% +61.1% −12.2% −28.7% −88.8% −99.8% —
Operating income — +71.1% −13.5% −0.9% +41.5% −21.3% −5.2% −6.4% +47.6% +74.3% +31.8% +47.4% +61.2% −14.5% −31.6% −97.7% — —
Net income — +72.7% −5.5% −14.4% +51.0% −45.0% +52.2% −11.1% +55.4% +101.3% +39.7% +32.0% +59.5% −12.5% −30.8% −97.9% — —
Diluted EPS — +75.3% −3.0% −11.5% +49.1% −40.5% +61.2% −10.2% +53.7% +101.7% +39.2% +35.0% +60.0% −8.4% −28.5% −97.9% — —
Margins
Gross margin 73.3% 74.7% 75.3% 74.1% 74.2% 73.3% 73.8% 74.9% 75.5% 75.8% 75.2% 74.6% 73.9% 71.3% 72.4% 73.8% 71.3% 69.2%
EBITDA margin 14.0% 14.6% 12.0% 11.2% 14.3% 13.4% 13.1% 11.8% 14.5% 14.7% 13.4% 14.8% 14.6% 12.2% 13.0% 2.6% 0.0% −7.4%
Operating margin 10.9% 12.3% 9.2% 8.5% 11.9% 10.6% 10.5% 9.8% 13.1% 13.8% 12.8% 14.4% 14.2% 11.6% 11.8% 0.5% −3.7% −11.6%
Net margin 6.7% 7.6% 6.2% 5.0% 7.4% 4.6% 7.4% 6.5% 9.2% 11.1% 10.9% 11.0% 10.7% 9.0% 9.3% 0.3% −4.8% −13.6%
Free-cash-flow margin 8.3% 6.5% 6.9% 10.1% 9.6% 6.5% 9.7% 8.2% 13.3% 11.2% 10.4% 14.9% 4.0% 11.1% 13.2% 2.8% 0.3% −1.3%
Cash flow
Cash from operations 19 29 35 40 42 26 29 25 43 61 84 145 95 195 148 24 7 −0
Capital spending 5 12 14 8 11 7 3 3 3 5 10 6 34 17 6 7 6 4
Free cash flow 14 17 21 32 31 19 27 22 40 56 74 139 60 178 141 17 1 −4
Stock-based pay 2 3 3 3 3 4 3 3 4 3 5 7 10 11 8 7 8 8
Free cash flow after stock pay 12 14 18 29 28 15 24 19 36 53 70 133 50 167 133 10 −6 −12
Balance sheet
Cash 11 17 14 40 36 24 42 52 75 81 77 164 104 88 94 91 89 58
Total debt 0 6 5 4 0 — 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −11 −12 −9 −36 −36 −24 −42 −52 −75 −81 −77 −164 −104 −88 −94 −91 −89 −58
Diluted shares 15m 15m 14m 14m 14m 13m 12m 12m 12m 12m 12m 12m 12m 11m 11m 11m 11m 11m
Returned to shareholders
Dividends — — — — — — — 12 15 23 35 53 64 72 73 1 0 0
Buybacks 0 0 20 3 20 34 11 — — 30 33 5 56 126 4 0 0 —
Total returned 0 0 20 3 20 34 11 12 15 53 69 58 120 198 77 1 0 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $240m
Short-term assets $202mLonger-term assets $38m
What it owes, and who funded it · $240m
Short-term liabilities $42mLonger-term liabilities $18mShareholders' equity $180m
  • Short-term assets cover short-term liabilities $202m of assets due within a year against $42m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $202m short-term assets against $18m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Medifast Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$170,000
Buybacks, last 3 fiscal years
$3.6M
Diluted share count
+0.6%
year over year
Total shareholder yield
0.1%
dividends 0.1% + buybacks 0.0% of market value
Sales & admin spending
80.8%
of revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated MED LWAY BRID MAMA AFRI WYHG Median
Revenue, last 12 months $300m $242m $228m $209m $176m $135m $1.5bn
Revenue growth, last 12 months −30.3% 25.6% 0.4% 53.9% −35.6% −6.5% 2.1%
Revenue growth, 3-year average −37.4% 17.1% −3.5% 28.9% — — 1.5%
Revenue growth, latest quarter −19.4% 24.1% −9.5% 55.0% — — −1.8%
Gross margin 69.2% 25.6% 18.8% 24.3% 10.4% 29.2% 25.6%
Operating margin −11.6% 6.5% −8.8% 4.5% −2.0% — 3.1%
Operating margin, 3-year average −3.8% 8.0% −4.8% 5.0% — — 4.8%
Net margin −13.6% 4.5% −6.4% 3.5% −8.4% 5.9% 2.1%
Cash from operations / revenue −0.0% 4.6% −1.8% 9.1% 0.2% −9.7% 8.0%
Free-cash-flow margin −1.3% −11.3% −4.5% 8.3% −0.1% −13.1% 3.9%
Free-cash-flow margin, 3-year average 1.3% −1.0% −2.7% 5.8% — — 5.7%
Stock pay / revenue 2.6% 0.9% — 1.3% 0.2% — 0.6%
Change in share count 0.6% 2.4% 0.0% 10.9% 0.1% 4.5% 0.0%

Median of all 44 companies we cover in packaged foods & meats. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 packaged foods & meats companies
Measure Company Peer median Rank
Revenue growth Growth -30.3% 2.2% 42 of 44
Change in growth rate Growth +3.8pp -1.0pp 6 of 44
Gross margin Profitability 69.2% 25.6% 2 of 43
Operating margin Profitability -11.6% 3.4% 33 of 42
Net margin Profitability -13.6% 2.3% 35 of 44
Free-cash-flow margin Cash generation -1.3% 4.3% 31 of 43
Stock pay as % of revenue Cash generation 2.6% 0.6% 35 of 39
Change in share count Balance sheet 0.6% 0.1% 26 of 40

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$87.6M
Institutions reporting
110
Shares held vs prior quarter
▼ 4.0%
Positions opened / closed
24 / 26

Top buyers and sellers, Q2 2026: 67 institutions bought and 52 sold ; the biggest buyer was Marshall Wace, LLP (+242K shares) and the biggest seller Blackrock, Inc (−575K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Renaissance Technologies LLC $8.3M 779K 9.4% ▲ 0.6%
Steamboat Capital Partners, LLC $7.5M 707K 8.6% ▼ 0.1%
Two Sigma Investments, LP $5.1M 481K 5.8% ▲ 42.4%
Vanguard Capital Management LLC $4.7M 447K 5.4% ▲ 0.5%
Charles Schwab Investment Management Inc $4.2M 397K 4.8% ▼ 37.1%
Blackrock, Inc. $3.9M 370K 4.5% ▼ 60.9%
Dimensional Fund Advisors LP $3.9M 363K 4.4% ▲ 0.5%
American Century Companies Inc $3.4M 319K 3.9% ▲ 42.2%
Morgan Stanley $3.1M 293K 3.5% ▼ 10.1%
Goldman Sachs Group Inc $2.6M 243K 2.9% ▲ 58.7%
Marshall Wace, LLP $2.6M 242K 2.9% New
AQR Capital Management LLC $2.5M 236K 2.9% ▲ 62.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Medifast Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.7M 13 trades by 3 insiders, last 12 months Insider sales History → $226,300 2 trades by 1 insider · 100% under pre-set plans
Net ▲ $1.5M net buying
Insider Date Trade Shares Price Value
Kiai Parsa Director October 28, 2026 Buy 158 $12.24 $1,934
Kiai Parsa Director October 28, 2026 Buy 5,399 $12.24 $66,093
Chard Daniel R Director September 29, 2026 Sell pre-set plan 9,544 $11.73 $111,951
Chard Daniel R Director September 28, 2026 Sell pre-set plan 9,545 $11.98 $114,349
Kiai Parsa Director August 26, 2026 Buy 1,175 $12.26 $14,406
Kiai Parsa Director August 26, 2026 Buy 41,975 $12.26 $514,614
Kiai Parsa Director August 24, 2026 Buy 118 $12.00 $1,416
Kiai Parsa Director August 24, 2026 Buy 4,211 $12.00 $50,532
Kiai Parsa Director August 20, 2026 Buy 1,175 $11.60 $13,630
Kiai Parsa Director August 20, 2026 Buy 41,975 $11.60 $486,910
Kiai Parsa Director August 19, 2026 Buy 28,538 $11.66 $332,753
Kiai Parsa Director August 19, 2026 Buy 799 $11.66 $9,316

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Medifast Inc disclosed in the last 12 months; 2 earlier trades on record.

  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020
  • Donna Shalala(FL):Purchase, $1,001 - $15,000, traded April 30, 2019, filed April 27, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 26, 2026
  • August 3, 2026
  • May 4, 2026
  • February 17, 2026
  • November 3, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on Medifast Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Medifast Inc in brief

What does Medifast Inc do?
Medifast Inc is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.
What is Medifast Inc's stock ticker?
Medifast Inc trades under the ticker MED on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Medifast Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Medifast Inc reported revenue of $300M, 30.3% lower than a year earlier, according to its SEC filings.
What is Medifast Inc's free cash flow?
Medifast Inc's free-cash-flow margin is -1.3% of revenue over the trailing twelve months, ranking 31 of the 43 packaged foods & meats companies we cover.
What is Medifast Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Medifast Inc's free cash flow after stock-based pay gives ~$35 per share in the base case, and ~$30–$42 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Medifast Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Renaissance Technologies LLC, Steamboat Capital Partners, LLC and Two Sigma Investments, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Medifast Inc's market cap?
On November 2, 2026, Medifast Inc's market capitalisation was about $139M and net debt of -$58.4M. Market figures come from third-party market data and may be delayed.
Does Medifast Inc pay a dividend?
Yes: Medifast Inc paid $170,000 in dividends over the trailing twelve months, a dividend yield of 0.12%.
Who are Medifast Inc's competitors?
In our Packaged Foods & Meats peer group, the companies closest to Medifast Inc are Lifeway Foods, Inc., Bridgford Foods Corp, Mama's Creations, Inc., Forafric Global PLC and Wing Yip Food Holdings Group Ltd. The side-by-side comparison below sets their revenue, margins and growth against Medifast Inc's.
Are insiders buying or selling Medifast Inc stock?
Over the last 12 months, Medifast Inc's directors and officers reported 13 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Medifast Inc's next earnings date?
Around January 25, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Medifast Inc announces its own schedule.