MED · MEDIFAST INC
Medifast, Inc., through its subsidiaries, operates as a health and wellness company that provides habit-based and coach-guided lifestyle solutions for weight loss in the United States. The company offers weight loss, weight management, and healthy living products comprising bars, cereals, snack straws, hot chocolate, hearty choices, oatmeal, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, soups, amino acid blends, whey protein, hot beverages, brownies, and mini meals under the Essential Fuelings, OPTAVIA ASCEND, and OPTAVIA ACTIVE categories, as well as daily nutrient packs, including multivitamins, minerals, and omega-3 fatty acid supplements. It also provides lifestyle plans, which provides a targeted reset of the body's metabolism by activating strong and targeted fat burn; Optimal Weight 4 & 2 & 1 Plan and Optimal Weight 4 & 2 ACTIVE Plan, which is designed for clients who want to continue eating all food groups or want a flexible meal plan to achieve a healthy weight; OPTAVIA Optimization Plan, a personalized approach to help clients' long-term weight management; and OPTAVIA GLP-1 Nutrition Support Plan, a nutritional companion to GLP-1 medication that allows clients to focus on weight loss. In addition, the company offers metabolic synchronization, a science that reverses metabolic dysfunction through a targeted reset of the body's metabolism. It markets its products through point-of-sale transactions executed over an e-commerce platform. The company serves health and wellness consumers. The company was formerly known as Healthrite, Inc. and changed its name to Medifast, Inc. in May 2001. Medifast, Inc. was incorporated in 1980 and is headquartered in Baltimore, Maryland.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $12.04 |
| SO | 11.2M |
| Options | 0.0M |
| Warrants | 0.0M |
| FD SO | 11.2M |
| MC | $134.9M |
| Cash | $71.9M |
| Total debt | — |
| EV | $63.0M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 0.2x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | 15.7x |
| MC / FCF | 33.6x |
| Ownership & coverage | |
|---|---|
| Institutional | 76.4% |
| Insiders | 4.2% |
| # Institutions | 151 |
| Analysts | 1 |
| Consensus | — |
| Avg target | $12.00 |
| Short % float | 16.9% |
| Days to cover | 9.21 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-07-27. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-31 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-08-14; the float denominator can be unreliable on tiny floats.
Financial statements
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Total Revenue | 76.38 | 76.04 | 75.10 | 89.41 |
| Revenue YoY % | (27.6%) | (34.3%) | (36.9%) | (36.2%) |
| Cost of Revenue | 22.99 | 24.29 | 22.96 | 27.25 |
| Gross Profit | 53.40 | 51.76 | 52.14 | 62.16 |
| Gross Profit YoY % | (30.3%) | (38.6%) | (40.9%) | (41.2%) |
| Gross Margin % | 69.9% | 68.1% | 69.4% | 69.5% |
| SG&A | 57.72 | 55.05 | 59.94 | 66.24 |
| Operating Expense | 57.72 | 55.05 | 59.94 | 66.24 |
| Operating Income | (4.33) | (3.29) | (7.80) | (4.08) |
| Operating Income YoY % | (305.9%) | (161.1%) | (1200.6%) | (293.8%) |
| Operating Margin % | (5.7%) | (4.3%) | (10.4%) | (4.6%) |
| EBITDA | (0.88) | 0.19 | (4.34) | (0.63) |
| EBITDA Margin % | (1.2%) | 0.2% | (5.8%) | (0.7%) |
| Other Income / (Expense) | 1.34 | 1.35 | 1.09 | 1.42 |
| Pretax Income | (2.99) | (1.94) | (6.71) | (2.66) |
| Tax Provision | 0.11 | 0.18 | 11.74 | (0.40) |
| Net Income | (3.10) | (2.12) | (18.45) | (2.26) |
| Net Margin % | (4.1%) | (2.8%) | (24.6%) | (2.5%) |
| Diluted EPS | -$0.28 | -$0.19 | -$1.65 | -$0.21 |
| Basic EPS | -$0.28 | -$0.19 | -$1.65 | -$0.21 |
| Diluted Avg Shares | 11.1 | 11.0 | — | 11.0 |
| Basic Avg Shares | 11.1 | 11.0 | — | 11.0 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 316.93 | 385.79 | 602.46 | 1,072.05 | 1,598.58 |
| Revenue YoY % | (17.8%) | (36.0%) | (43.8%) | (32.9%) | — |
| Cost of Revenue | 97.48 | 110.60 | 157.84 | 296.20 | 458.16 |
| Gross Profit | 219.45 | 275.19 | 444.62 | 775.85 | 1,140.41 |
| Gross Profit YoY % | (20.3%) | (38.1%) | (42.7%) | (32.0%) | — |
| Gross Margin % | 69.2% | 71.3% | 73.8% | 72.4% | 71.3% |
| SG&A | 238.96 | 289.40 | 441.75 | 649.45 | 955.61 |
| R&D | — | 4.30 | 4.60 | 4.60 | 4.50 |
| Operating Expense | 238.96 | 289.40 | 441.75 | 649.45 | 955.61 |
| Operating Income | (19.51) | (14.21) | 2.88 | 126.40 | 184.81 |
| Operating Income YoY % | (37.2%) | (593.8%) | (97.7%) | (31.6%) | — |
| Operating Margin % | (6.2%) | (3.7%) | 0.5% | 11.8% | 11.6% |
| EBITDA | (5.66) | 0.03 | 15.59 | 139.51 | 195.79 |
| EBITDA Margin % | (1.8%) | 0.0% | 2.6% | 13.0% | 12.2% |
| Other Income / (Expense) | 5.21 | 8.25 | 0.82 | 1.98 | — |
| Pretax Income | (14.30) | (5.97) | 3.70 | 128.38 | 184.49 |
| Tax Provision | 11.63 | 13.03 | 1.70 | 29.38 | 40.49 |
| Net Income | (25.93) | (19.00) | 2.00 | 99.00 | 144.00 |
| Net Margin % | (8.2%) | (4.9%) | 0.3% | 9.2% | 9.0% |
| Diluted EPS | -$2.33 | -$1.70 | $0.19 | $9.10 | $12.73 |
| Basic EPS | -$2.33 | -$1.70 | $0.19 | $9.13 | $12.82 |
| Diluted Avg Shares | 11.1 | 11.0 | 11.0 | 10.9 | 11.3 |
| Basic Avg Shares | 11.1 | 11.0 | 10.9 | 10.9 | 11.2 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 71.91 | 71.53 | 89.30 | 99.53 |
| Short-term Investments | 97.91 | 97.42 | 77.97 | 73.99 |
| Inventory | 21.18 | 21.40 | 20.23 | 23.20 |
| Other Current Assets | 11.03 | 12.28 | 14.18 | 11.12 |
| Total Current Assets | 202.03 | 202.63 | 201.68 | 207.84 |
| Net PPE | 27.98 | 29.64 | 31.23 | 32.85 |
| Operating Lease ROU | 24.31 | 12.92 | 7.23 | 8.40 |
| Other Assets | 6.07 | 6.85 | 7.83 | 19.13 |
| Total Assets | 260.40 | 252.05 | 247.97 | 268.21 |
| Current Lease Liabilities | 5.16 | 3.92 | 4.60 | 5.47 |
| Other Current Liabilities | 36.41 | 38.26 | 38.36 | 41.24 |
| Total Current Liabilities | 41.56 | 42.18 | 42.96 | 46.71 |
| Long-term Lease Liabilities | 22.46 | 12.18 | 6.09 | 6.79 |
| Total Liabilities | 64.02 | 54.37 | 49.05 | 53.50 |
| Retained Earnings | 153.05 | 156.15 | 158.27 | 176.24 |
| Total Equity | 196.38 | 197.68 | 198.92 | 214.71 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 71.91 | 89.30 | 90.93 | 94.44 | 87.69 |
| Short-term Investments | 97.91 | 77.97 | 71.42 | 55.60 | 0.00 |
| Inventory | 21.18 | 20.23 | 42.42 | 54.59 | 118.86 |
| Other Current Assets | 11.03 | 14.18 | 9.64 | 19.40 | 16.24 |
| Total Current Assets | 202.03 | 201.68 | 214.40 | 224.03 | 222.78 |
| Net PPE | 27.98 | 31.23 | 37.53 | 51.47 | 57.19 |
| Operating Lease ROU | 24.31 | 7.23 | 11.15 | 15.64 | 18.46 |
| Other Assets | 6.07 | 7.83 | 21.13 | 18.77 | 17.78 |
| Total Assets | 260.40 | 247.97 | 284.21 | 309.91 | 316.21 |
| Current Lease Liabilities | 5.16 | 4.60 | 6.18 | 5.88 | 5.78 |
| Other Current Liabilities | 36.41 | 38.36 | 57.98 | 86.42 | 135.12 |
| Total Current Liabilities | 41.56 | 42.96 | 64.16 | 92.30 | 140.89 |
| Long-term Lease Liabilities | 22.46 | 6.09 | 9.94 | 16.13 | 20.27 |
| Total Liabilities | 64.02 | 49.05 | 74.10 | 108.43 | 161.17 |
| Retained Earnings | 153.05 | 158.27 | 176.78 | 174.65 | 139.85 |
| Total Equity | 196.38 | 198.92 | 210.11 | 201.48 | 155.04 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Net Income | (3.10) | (2.12) | (18.45) | (2.26) |
| D&A | 3.45 | 3.48 | 3.46 | 3.45 |
| Stock-Based Comp | 1.82 | 1.90 | 2.17 | 0.91 |
| Δ Working Cap & Other | (0.47) | (3.00) | 7.53 | 10.01 |
| Operating Cash Flow | 1.70 | 0.26 | (5.28) | 12.11 |
| CapEx | (0.97) | (1.10) | (1.35) | (1.36) |
| Other Investing | — | (16.04) | (3.60) | (12.92) |
| Investing Cash Flow | (1.23) | (17.13) | (4.95) | (14.28) |
| Dividends Paid | (0.08) | (0.09) | 0.00 | 0.00 |
| Other Financing | — | (0.81) | — | — |
| Financing Cash Flow | (0.08) | (0.90) | 0.00 | 0.00 |
| Effect of FX on Cash | — | — | 0.00 | 0.00 |
| Free Cash Flow | 0.73 | (0.84) | (6.63) | 10.75 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (25.93) | (19.00) | 2.00 | 99.00 | 144.00 |
| D&A | 13.85 | 14.24 | 12.71 | 13.11 | 10.98 |
| Stock-Based Comp | 6.80 | 7.64 | 7.36 | 8.19 | 11.05 |
| Δ Working Cap & Other | 14.08 | 3.98 | 2.41 | 27.36 | 28.54 |
| Operating Cash Flow | 8.79 | 6.86 | 24.48 | 147.66 | 194.57 |
| CapEx | (4.78) | (5.61) | (7.45) | (6.48) | (16.68) |
| Other Investing | (32.82) | (2.31) | (19.07) | (54.56) | 5.27 |
| Investing Cash Flow | (37.60) | (7.93) | (26.52) | (61.05) | (11.41) |
| Stock Buyback | — | 0.00 | 0.00 | (3.60) | (126.44) |
| Dividends Paid | (0.17) | (0.20) | (0.71) | (73.02) | (71.62) |
| Other Financing | (0.81) | — | (0.80) | (3.17) | (1.52) |
| Financing Cash Flow | (0.98) | (0.56) | (1.51) | (79.79) | (199.58) |
| Effect of FX on Cash | — | 0.00 | 0.05 | (0.07) | (0.07) |
| Free Cash Flow | 4.01 | 1.25 | 17.02 | 141.17 | 177.89 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Current Ratio | 4.86 | 4.80 | 4.69 | 4.45 |
| Quick Ratio | 4.35 | 4.30 | 4.22 | 3.95 |
| Debt / Equity | — | — | — | — |
| EBITDA Margin % | (1.2%) | 0.2% | (5.8%) | (0.7%) |
| Working Capital | 160.47 | 160.45 | 158.72 | 161.12 |
| Net Debt | — | — | — | — |
| ROE % | (1.6%) | (1.1%) | (9.3%) | (1.1%) |
| ROA % | (1.2%) | (0.8%) | (7.4%) | (0.8%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 4.86 | 4.69 | 3.34 | 2.43 | 1.58 |
| Quick Ratio | 4.35 | 4.22 | 2.68 | 1.84 | 0.74 |
| Debt / Equity | — | — | — | — | — |
| EBITDA Margin % | (1.8%) | 0.0% | 2.6% | 13.0% | 12.2% |
| Working Capital | 160.47 | 158.72 | 150.24 | 131.73 | 81.89 |
| Net Debt | — | — | — | — | — |
| ROE % | (13.2%) | (9.6%) | 1.0% | 49.1% | 92.9% |
| ROA % | (10.0%) | (7.7%) | 0.7% | 31.9% | 45.5% |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-08-28 | Kiai Parsa | Director | 2026-08-26 | P | 41,975 | $12.26 | $514,748 |
| 2026-08-28 | Kiai Parsa | Director | 2026-08-26 | P | 1,175 | $12.26 | $14,409 |
| 2026-08-26 | Kiai Parsa | Director | 2026-08-24 | P | 4,211 | $12.00 | $50,530 |
| 2026-08-26 | Kiai Parsa | Director | 2026-08-24 | P | 118 | $12.00 | $1,416 |
| 2026-08-21 | Kiai Parsa | Director | 2026-08-20 | P | 41,975 | $11.60 | $487,065 |
| 2026-08-21 | Kiai Parsa | Director | 2026-08-20 | P | 1,175 | $11.60 | $13,634 |
| 2026-08-21 | Kiai Parsa | Director | 2026-08-19 | P | 28,538 | $11.66 | $332,685 |
| 2026-08-21 | Kiai Parsa | Director | 2026-08-19 | P | 799 | $11.66 | $9,314 |
| 2026-05-28 | Rose Jeffrey Matthew | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-28 | Rose Jeffrey Matthew | Director | 2026-05-26 | A | 6,739 | — | $0 |
| 2026-05-28 | Kiai Parsa | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-28 | Kiai Parsa | Director | 2026-05-26 | A | 7,637 | — | $0 |
| 2026-05-28 | Thomas Andrea B | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-28 | SCHLACKMAN SCOTT | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-28 | Geary Elizabeth A. | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-28 | Xian Ming | Director | 2026-05-26 | A | 11,680 | — | $0 |
| 2026-05-12 | SCHLACKMAN SCOTT | Director | 2026-05-11 | P | 2,500 | $12.53 | $31,325 |
| 2026-05-12 | SCHLACKMAN SCOTT | Director | 2026-05-08 | P | 2,500 | $12.65 | $31,625 |
| 2026-03-27 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2026-03-25 | F | (862) | $9.59 | -$8,267 |
| 2026-03-27 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2026-03-25 | A | 10,830 | — | $0 |
| 2026-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2026-03-25 | F | (3,224) | $9.59 | -$30,918 |
| 2026-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2026-03-25 | A | 34,344 | — | $0 |
| 2026-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2026-03-25 | A | 1,014 | — | $0 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-25 | F | (20,095) | $9.59 | -$192,711 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-25 | A | 36,968 | — | $0 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-25 | A | 4,827 | — | $0 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-20 | P | 17,678 | $10.11 | $178,725 |
| 2026-03-27 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2026-03-17 | F | (70) | $10.05 | -$704 |
| 2026-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2026-03-17 | F | (482) | $10.05 | -$4,844 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-17 | F | (2,638) | $10.05 | -$26,512 |
| 2026-03-27 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2026-03-13 | F | (198) | $9.62 | -$1,905 |
| 2026-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2026-03-13 | F | (918) | $9.62 | -$8,831 |
| 2026-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2026-03-13 | F | (7,075) | $9.62 | -$68,062 |
| 2025-06-26 | Xian Ming | Director | 2025-06-25 | A | 11,167 | — | $0 |
| 2025-06-26 | Xian Ming | Director | 2025-06-25 | A | 6,013 | $13.39 | $80,519 |
| 2025-06-26 | SCHLACKMAN SCOTT | Director | 2025-06-25 | A | 11,168 | — | $0 |
| 2025-06-26 | Thomas Andrea B | Director | 2025-06-25 | A | 11,168 | — | $0 |
| 2025-06-26 | Hoer Michael A. | Director | 2025-06-25 | A | 11,168 | — | $0 |
| 2025-06-26 | Geary Elizabeth A. | Director | 2025-06-25 | A | 11,168 | — | $0 |
| 2025-06-26 | BROWN JEFFREY J | Director | 2025-06-25 | A | 11,167 | — | $0 |
| 2025-06-26 | BROWN JEFFREY J | Director | 2025-06-25 | A | 9,449 | $13.39 | $126,528 |
| 2025-06-17 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2025-06-13 | P | 381 | $13.13 | $5,003 |
| 2025-03-27 | Maloney James P. | Officer (Chief Financial Officer) | 2025-03-25 | A | 24,161 | — | $0 |
| 2025-03-27 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2025-03-25 | A | 7,671 | — | $0 |
| 2025-03-27 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2025-03-25 | A | 124,953 | — | $0 |
| 2025-03-18 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2025-03-17 | F | (99) | $14.35 | -$1,421 |
| 2025-03-18 | Maloney James P. | Officer (Chief Financial Officer) | 2025-03-17 | F | (438) | $14.35 | -$6,285 |
| 2025-03-18 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2025-03-17 | F | (1,864) | $14.35 | -$26,748 |
| 2025-03-18 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2025-03-16 | F | (60) | $13.94 | -$836 |
| 2025-03-18 | Maloney James P. | Officer (Chief Financial Officer) | 2025-03-16 | F | (123) | $13.94 | -$1,715 |
| 2025-03-18 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2025-03-16 | F | (944) | $13.94 | -$13,159 |
| 2025-03-18 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2025-03-13 | F | (280) | $13.87 | -$3,884 |
| 2025-03-18 | Maloney James P. | Officer (Chief Financial Officer) | 2025-03-13 | F | (835) | $13.87 | -$11,581 |
| 2025-03-18 | Chard Daniel R | Director, Officer (Chairman & CEO) | 2025-03-13 | F | (5,001) | $13.87 | -$69,364 |
| 2024-09-17 | MacKenzie Jonathan Barrett | Officer (VP, Finance & CAO) | 2024-09-13 | F | (11) | $18.90 | -$208 |