MCS (MCS) financial statements
MCS reported revenue of $758M in fiscal 2025, up 3.8% a year over 9 years.
Net income was $13M and the operating margin 2.2%, against 13.1% in 2016.
Free cash flow was $989,000, and the company returned $9M in dividends.
The diluted share count rose 12% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MCS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $544M | $623M | $673M | $784M | $238M | $458M | $677M | $730M | $736M | $758M |
| Selling, general and admin | $62M | $67M | $72M | $74M | $51M | $63M | $75M | $79M | $89M | $93M |
| Operating income | $71M | $77M | $83M | $68M | -$178M | -$41M | $8M | $34M | $16M | $17M |
| Interest expense | $9M | $12M | $13M | $12M | $16M | $19M | $15M | $13M | $11M | $11M |
| Pre-tax income | $61M | $68M | $67M | $54M | -$196M | -$59M | -$2M | $22M | -$10M | $9M |
| Income tax | $23M | $4M | $13M | $12M | -$71M | -$16M | $7M | $7M | -$2M | -$4M |
| Net income | $38M | $65M | $53M | $42M | -$125M | -$43M | -$12M | $15M | -$8M | $13M |
| Diluted shares | 28M | 28M | 29M | 31M | 31M | 31M | 31M | 41M | 32M | 31M |
| Operating margin | 13.1% | 12.4% | 12.4% | 8.7% | -75.1% | -9.0% | 1.2% | 4.7% | 2.2% | 2.2% |
| Net margin | 7.0% | 10.4% | 7.9% | 5.4% | -52.5% | -9.4% | -1.8% | 2.0% | -1.1% | 1.7% |
Balance sheet
Fiscal years, from MCS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3M | $21M | $17M | $21M | $7M | $18M | $22M | $56M | $41M | $23M |
| Receivables | $6M | $11M | $9M | $9M | $405,000 | $9M | $7M | $8M | $7M | $7M |
| Inventory | $4M | $4M | $4M | $6M | $3M | $5M | $6M | $6M | $7M | $7M |
| Total current assets | $36M | $77M | $69M | $79M | $68M | $100M | $64M | $102M | $92M | $65M |
| Property, plant and equipment | $789M | $860M | $840M | $923M | $848M | $771M | $716M | $682M | $686M | $698M |
| Goodwill | $44M | $43M | $43M | $75M | $75M | $75M | $75M | $75M | $75M | $75M |
| Total assets | $911M | $1.0B | $989M | $1.4B | $1.3B | $1.2B | $1.1B | $1.1B | $1.0B | $1.0B |
| Total current liabilities | $131M | $160M | $149M | $175M | $217M | $213M | $156M | $164M | $177M | $163M |
| Long-term debt | $271M | $290M | $229M | $206M | $193M | $204M | $170M | $160M | $149M | $159M |
| Total liabilities | $520M | $575M | $499M | $738M | $755M | $735M | $608M | $594M | $580M | $557M |
| Shareholders' equity | $390M | $445M | $490M | $621M | $499M | $454M | $456M | $471M | $465M | $457M |
| Net debt | $280M | $281M | $222M | $195M | $197M | $197M | $159M | $114M | $118M | $136M |
Cash flow
Fiscal years, from MCS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $83M | $109M | $137M | $141M | -$69M | $46M | $93M | $103M | $104M | $84M |
| Capital spending | $84M | $115M | $59M | $64M | $21M | $17M | $37M | $39M | $79M | $83M |
| Free cash flow | -$951,000 | -$6M | $79M | $77M | -$90M | $29M | $56M | $64M | $25M | $989,000 |
| Stock-based compensation | $2M | $2M | $3M | $4M | $4M | $9M | $8M | $6M | $8M | $8M |
| Dividends paid | $12M | $14M | $16M | $19M | $5M | $0 | $3M | $7M | $9M | $9M |
| Net borrowing | -$52M | $29M | -$12M | -$25M | -$9M | -$11M | -$36M | -$11M | $89M | -$10M |
| Free cash flow margin | -0.2% | -0.9% | 11.7% | 9.9% | -37.8% | 6.4% | 8.3% | 8.8% | 3.4% | 0.1% |
| Dividends per share | $0.43 | $0.48 | $0.57 | $0.62 | $0.17 | — | $0.10 | $0.18 | $0.28 | $0.29 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for MCS.
Open MCS in InvestinglyQuestions
What was MCS's revenue in 2025?
$758M in fiscal 2025, from its 10-K filing.
How much free cash flow does MCS generate?
$989,000 in fiscal 2025 (operating cash flow minus capital spending).
From MCS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.