Moelis & Co. (MC) intrinsic value & 10-year financials
Moelis & Co. (MC) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 40.7% a year to $5.6M, with an average return on invested capital of 40.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $54.55
- Revenue (FY2025)
- $5.6M
- Revenue growth (10-yr CAGR)
- -40.7%
- ROIC (10-yr avg)
- 40.5%
- Free cash flow (FY2025)
- $540.0M
MC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $5.6M | $259.6M | — | $540.0M | 4903.5% | 43.0% |
| FY2024 | $4.6M | $151.5M | — | $415.4M | 3720.0% | 33.7% |
| FY2023 | $7.6M | -$27.5M | — | $141.8M | -531.1% | -9.6% |
| FY2022 | $4.5M | $168.7M | — | $27.0M | 4767.3% | 36.1% |
| FY2021 | $2.6M | $423.0M | — | $920.6M | 19386.9% | 80.7% |
| FY2020 | $2.4M | $218.4M | — | $388.6M | 11287.6% | 46.6% |
| FY2019 | $6.4M | $135.7M | — | $202.8M | 1788.3% | 24.9% |
| FY2018 | $4.9M | $208.0M | — | $384.0M | 4583.3% | 54.2% |
| FY2017 | $684.6M | $126.5M | — | $227.5M | 24.0% | 30.6% |
| FY2016 | $613.4M | $141.9M | — | $228.7M | 26.3% | 64.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Moelis & Co is facing top-line stagnation, with revenue contracting over the decade.
Moelis & Co has earned high returns on invested capital, averaging 40.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Moelis & Co capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Moelis & Co is modeled at -40.7% normalized earnings growth with a 5.1% bond-yield adjustment.