The firm maintains a stable capital structure with a debt-to-equity ratio of 0.43, though a current ratio of 0.70 suggests potential sensitivity to short-term liquidity shocks.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 279.03M | 620.29M | 486.89M | 250.85M | 263.88M | 590.58M | 304.5M | 224.37M | 330.38M | 275.49M | 350.04M | 288.11M | 226.67M | 124.66M | 233.86M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 794K | 770K | 712K | 798K | 745K | 801K | 807K | 760K | 671K | 703K | 659K | 819K | 833K | 0 | 774K |
| Total Non-Current Assets | 1.01B | 1.19B | 892.05M | 928.91M | 952.99M | 965.1M | 891.95M | 847.33M | 583.99M | 423.58M | 248.76M | 251.35M | 237.58M | 108.13M | 168.81M |
| Property, Plant & Equipment | 314.55M | 306.65M | 245.82M | 235.8M | 209.49M | 223.25M | 227.05M | 204.75M | 12.73M | 10.46M | 8.4M | 8.7M | 7.34M | 5.16M | 5.79M |
| Fixed Asset Turnover | 5.23x | 4.95x | 4.86x | 3.62x | 4.70x | 6.90x | 4.15x | 3.65x | 69.58x | 65.46x | 73.05x | 63.45x | 70.69x | 79.79x | 66.69x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 402.86M | 234M | 167.79M | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 768K | 0 | 1.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42K | 211K |
| Long-Term Investments | 1.25B | 369.07M | 184.6M | 210.36M | 265.25M | 263.34M | 211.83M | 213.23M | 143.92M | 154.96M | 54.26M | 56.08M | 57.41M | 80.62M | 149.51M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 1.29B | 1.81B | 1.38B | 1.18B | 1.22B | 1.56B | 1.2B | 1.07B | 914.38M | 699.07M | 598.8M | 539.46M | 464.25M | 232.79M | 402.67M |
| Asset Turnover | 1.03x | 0.84x | 0.87x | 0.72x | 0.81x | 0.99x | 0.79x | 0.70x | 0.97x | 0.98x | 1.02x | 1.02x | 1.12x | 1.77x | 0.96x |
| Asset Growth % | 97.66% | 31.45% | 16.88% | -3.05% | -21.78% | 30.03% | 11.64% | 17.21% | 30.8% | 16.74% | 11% | 16.2% | 99.43% | -42.19% | - |
| Total Current Liabilities | 399.8M | 28.89M | 676.32M | 601.61M | 565.17M | 885.49M | 555.36M | 480.25M | 535.85M | 345.57M | 337.89M | 272.77M | 280.7M | 125.63M | 136.51M |
| Accounts Payable | 57.93M | 43.63M | 33.6M | 32.63M | 11.93M | 69.88M | 25.03M | 16.11M | 26.56M | 18.32M | 14.33M | 21.2M | 19.89M | 14.26M | 13.92M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 28.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | -793.15M | 0 | 0 | 0 | 0 | 0 | 0 | -6.78M | -340.62M | -334.92M | -265.77M | -275.55M | -125.63M | 0 |
| Current Ratio | 0.70x | 21.47x | 0.72x | 0.42x | 0.47x | 0.67x | 0.55x | 0.47x | 0.62x | 0.80x | 1.04x | 1.06x | 0.81x | 0.99x | 1.71x |
| Quick Ratio | 0.70x | 21.47x | 0.72x | 0.42x | 0.47x | 0.67x | 0.55x | 0.47x | 0.62x | 0.80x | 1.04x | 1.06x | 0.81x | 0.99x | 1.71x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 267.18M | 1.1B | 223.24M | 215.68M | 192.76M | 191.89M | 196.61M | 197.63M | 6.78M | 9.24M | 9.47M | 9.27M | 9.17M | 8.47M | 6.05M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 666.98M | 1.13B | 899.55M | 817.3M | 757.93M | 1.08B | 751.97M | 677.87M | 542.62M | 354.81M | 347.36M | 282.04M | 289.86M | 134.09M | 142.56M |
| Total Debt | 267.18M | 267.15M | 223.24M | 215.68M | 192.76M | 191.89M | 196.61M | 197.63M | 24.48M | 24.17M | 18.32M | 0 | 0 | 0 | 0 |
| Net Debt | 114.23M | -241.44M | -189.23M | 29.27M | -14.03M | -328.32M | -5.86M | 29.81M | -236.62M | -189.02M | -300.61M | -248.02M | -197.94M | -88.52M | -185.62M |
| Debt / Equity | 0.43x | 0.39x | 0.47x | 0.60x | 0.42x | 0.40x | 0.44x | 0.50x | 0.07x | 0.07x | 0.07x | - | - | - | - |
| Debt / EBITDA | 0.92x | 0.93x | 1.22x | - | 0.86x | 0.38x | 0.73x | 1.65x | 0.11x | 0.14x | 0.11x | - | - | - | - |
| Net Debt / EBITDA | 0.39x | -0.84x | -1.03x | - | -0.06x | -0.65x | -0.02x | 0.25x | -1.02x | -1.13x | -1.83x | -1.77x | -3.96x | -1.22x | -4.58x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 622.22M | 680.38M | 479.38M | 362.46M | 458.94M | 478.3M | 444.47M | 393.83M | 371.75M | 344.26M | 251.44M | 257.42M | 174.38M | 98.69M | 260.11M |
| Equity Growth % | 163.47% | 41.93% | 32.26% | -21.02% | -4.05% | 7.61% | 12.86% | 5.94% | 7.99% | 36.91% | -2.32% | 47.61% | 76.69% | -62.06% | - |
| Book Value per Share | 7.83 | 8.59 | 6.26 | 5.29 | 6.53 | 6.99 | 7.32 | 7.09 | 7.33 | 9.14 | 10.37 | 12.05 | 10.96 | 12.82 | 33.78 |
| Total Shareholders' Equity | 487.08M | 568.44M | 441.61M | 352.14M | 444.5M | 489.07M | 479.95M | 442.83M | 404.36M | 324.95M | 211.84M | 168.37M | 113.38M | 20.65M | 260.11M |
| Common Stock | 920K | 891K | 853K | 813K | 776K | 732K | 679K | 632K | 575K | 541K | 521K | 517K | 514K | 439K | 259.94M |
| Retained Earnings | -817.29M | -801.23M | -821.65M | -767.59M | -560.69M | -535.28M | -420.68M | -324.19M | -237.78M | -139.92M | -68.23M | -15.34M | -24.12M | 0 | 0 |
| Treasury Stock | -653.56M | -536.29M | -461.7M | -450.86M | -403.86M | -256.32M | -152.17M | -107.84M | -56.66M | -23.19M | -10.93M | -7.62M | 0 | 0 | 0 |
| Accumulated OCI | -7.32M | -7.12M | -6.73M | -3.93M | -4.53M | -560K | -201K | 1.43M | 291K | 352K | -543K | 108K | 85K | 926K | 163K |
| Minority Interest | 135.13M | 111.94M | 37.78M | 10.32M | 14.44M | -10.77M | -35.48M | -49M | -32.61M | 19.31M | 39.6M | 89.04M | 61.01M | 78.05M | 0 |
Transactional revenue timing volatility
As reported in recent financial filings, Moelis & Company has maintained a consistent debt-to-equity ratio, hovering near 0.43 as of 2026Q1, which suggests that the firm is successfully scaling its advisory operations without resorting to excessive leverage or compromising its long-term balance sheet integrity.
The firm's ability to maintain a stable leverage profile while navigating cyclical deal markets indicates a disciplined approach to capital management. Investors should monitor whether this stability persists if the firm continues its aggressive hiring strategy, which could necessitate higher working capital requirements.
Based on the firm's reported figures, Moelis & Company carries a modest debt load of $267.2M, representing a D/E ratio of 0.43, which appears strategically aligned with its capital-light business model and provides a buffer against the inherent volatility of transactional advisory fee income.
The firm's debt levels remain well-contained, reflecting a lack of reliance on balance sheet financing for its advisory mandates. This conservative posture is appropriate for a pure-play boutique, as it avoids the interest rate sensitivity that often plagues larger, more diversified financial institutions.
According to the latest quarterly data, Moelis & Company's cash reserves fluctuated significantly from $508.6M in 2025Q4 to $152.9M in 2026Q1, highlighting the firm's sensitivity to the timing of deal closures and the subsequent impact on immediate liquidity buffers for operational needs.
The sharp decline in cash suggests that the firm's liquidity is highly dependent on the timing of success fee collections rather than a steady stream of recurring revenue. This volatility warrants close monitoring, as it may force the firm to rely on its credit facilities during extended periods of deal inactivity.
As indicated in the balance sheet, Moelis & Company reports a persistent negative retained earnings balance of $817.3M as of 2026Q1, which appears to be a structural artifact of its historical partnership conversion and aggressive capital return policies rather than ongoing operational losses.
The negative retained earnings figure may mislead investors regarding the firm's true financial health, as it reflects accounting treatments rather than a lack of profitability. Analysts should focus on the firm's ability to generate cash flow to support its dividend and buyback programs despite this accounting-driven deficit.
Based on the provided financial statements, the firm's current ratio of 0.70 in 2026Q1 suggests a potential mismatch between short-term assets and liabilities, which may indicate that the firm is highly susceptible to liquidity shocks if deal closures are delayed by regulatory or market factors.
The low current ratio is a non-obvious risk that highlights the firm's reliance on the rapid conversion of accounts receivable into cash. Investors should be wary of this metric, as it suggests that the firm has little margin for error if its primary revenue-generating activities face unexpected headwinds.
Quick answers to the most common questions about buying MC stock.
As of 2025, Moelis & Company (MC) had total assets of $1.81B including $620.3M in current assets.
Moelis & Company (MC) carries total debt of $267.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Moelis & Company (MC) has total shareholders' equity (book value) of $568.4M ($8.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Moelis & Company (MC) reported a current ratio of 21.47x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.