NASDAQ : MRDN
Meridian Holdings Inc. — Financial statements
Other · United States
Last price 10.03 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 126.90M
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Financial statements
Meridian Holdings Inc. (MRDN) reported revenue of 197.19M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 197.19M | 182.86M | 151.12M | 92.99M | 74.93M | 60.37M |
| Cost of Revenue | 87.31M | 79.41M | 62.54M | 24.75M | 19.41M | 14.62M |
| Gross Profit | 109.88M | 103.46M | 88.57M | 68.24M | 55.52M | 45.75M |
| Selling, General & Admin | 98.40M | 97.92M | 78.10M | 52.59M | 25.23M | 19.98M |
| Amortization of Goodwill & Intangibles | 7.10M | 9.17M | 6.37M | 1.90M | ||
| Other Operating Expenses | 13.80M | 11.16M | ||||
| Operating Expenses | 106.22M | 107.81M | 85.83M | 54.48M | 39.54M | 31.45M |
| Operating Income | 3.66M | -4.35M | 2.74M | 13.76M | 15.97M | 14.30M |
| Interest Expense | -2.28M | -4.58M | -3.52M | -36.16K | -43.30K | -67.66K |
| Interest & Investment Income | 221.03K | 240.72K | 218.15K | 97.82K | 32.56K | 16.50K |
| Currency Exchange Gain (Loss) | -184.26K | 760.22K | -494.82K | 72.46K | 74.27K | -39.75K |
| Other Non Operating Income (Expenses) | 2.50M | 2.56M | 2.26M | 1.57M | 1.05M | 970.45K |
| EBT Excluding Unusual Items | 3.92M | -5.37M | 1.21M | 15.47M | 17.09M | 15.18M |
| Impairment of Goodwill | -63.44M | -63.44M | ||||
| Asset Writedown | -28.38M | -28.38M | ||||
| Other Unusual Items | -1.02M | |||||
| Pretax Income | -87.90M | -97.19M | 1.21M | 15.47M | 17.09M | 14.16M |
| Income Tax Expense | -4.04M | -5.21M | 2.62M | 1.57M | 1.11M | 1.21M |
| Earnings From Continuing Operations | -83.86M | -91.98M | -1.41M | 13.89M | 15.98M | 12.95M |
| Minority Interest in Earnings | 2.21M | 2.08M | -70.40K | -192.35K | -191.09K | -77.89K |
| Net Income | -81.66M | -89.90M | -1.48M | 13.70M | 15.78M | 12.87M |
| Net Income to Common | -81.66M | -89.90M | -1.48M | 13.70M | 15.78M | 12.87M |
| Shares Outstanding (Basic) | 12.30M | 11.59M | 9.46M | 6.96M | ||
| Shares Outstanding (Diluted) | 12.30M | 11.59M | 9.46M | 6.96M | ||
| EPS (Basic) | -6.64 | -7.76 | -0.16 | 1.97 | ||
| EPS (Diluted) | -6.64 | -7.76 | -0.16 | 1.92 | ||
| Free Cash Flow | 24.56M | 19.17M | 16.75M | 17.95M | 16.34M | 13.28M |
| Free Cash Flow Per Share | 2.00 | 1.65 | 1.77 | 2.58 | ||
| Gross Margin | 55.72% | 56.58% | 58.61% | 73.39% | 74.09% | 75.79% |
| Operating Margin | 1.85% | -2.38% | 1.82% | 14.80% | 21.32% | 23.69% |
| Profit Margin | -41.41% | -49.16% | -0.98% | 14.74% | 21.07% | 21.32% |
| Free Cash Flow Margin | 12.46% | 10.48% | 11.09% | 19.30% | 21.80% | 22.00% |
| EBITDA | 16.59M | 10.80M | 13.53M | 19.18M | 20.58M | 18.16M |
| EBITDA Margin | 8.41% | 5.91% | 8.96% | 20.62% | 27.46% | 30.09% |
| D&A For EBITDA | 12.93M | 15.15M | 10.79M | 5.42M | 4.60M | 3.86M |
| EBIT | 3.66M | -4.35M | 2.74M | 13.76M | 15.97M | 14.30M |
| EBIT Margin | 1.85% | -2.38% | 1.82% | 14.80% | 21.32% | 23.69% |
| Effective Tax Rate | 216.66% | 10.16% | 6.52% | 8.58% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 17.32M | 18.08M | 30.13M | 20.41M | 13.11M | 9.53M |
| Short-Term Investments | 349.10K | 354.42K | 330.30K | 10.16K | 9.84K | 34.68K |
| Cash & Short-Term Investments | 17.67M | 18.43M | 30.46M | 20.42M | 13.12M | 9.57M |
| Accounts Receivable | 8.36M | 8.42M | 6.73M | 3.07M | 2.66M | 2.93M |
| Other Receivables | 3.37M | 2.41M | 2.99M | 2.98M | 2.33M | 1.51M |
| Receivables | 11.73M | 10.83M | 9.72M | 6.05M | 4.99M | 4.44M |
| Inventory | 4.64M | 5.52M | 3.94M | 133.91K | 122.24K | 69.87K |
| Prepaid Expenses | 1.17M | 652.22K | 955.46K | 328.40K | 154.89K | 77.80K |
| Other Current Assets | 344.48K | 425.20K | ||||
| Total Current Assets | 35.21M | 35.44M | 45.07M | 26.93M | 18.94M | 14.94M |
| Property, Plant & Equipment | 33.52M | 35.26M | 35.07M | 30.35M | 28.65M | 26.13M |
| Long-Term Investments | 9.37M | 7.35M | 3.83M | 237.83K | 262.00K | 246.88K |
| Goodwill | 8.85M | 8.45M | 71.25M | |||
| Other Intangible Assets | 25.70M | 26.46M | 56.39M | 15.11M | 9.66M | 7.53M |
| Other Long-Term Assets | 1.91M | 5.12M | 2.11M | 7.23M | 6.08M | 5.58M |
| Total Assets | 115.13M | 118.08M | 213.72M | 79.85M | 63.59M | 54.42M |
| Accounts Payable | 23.91M | 20.57M | 12.91M | 11.30M | 7.35M | 5.87M |
| Accrued Expenses | 4.02M | 4.55M | 2.97M | 2.58M | 1.72M | 1.96M |
| Short-Term Debt | 83.97K | 52.30K | ||||
| Current Portion of Long-Term Debt | 9.98M | 10.58M | 17.29M | |||
| Current Portion of Leases | 2.80M | 2.66M | 2.38M | 2.30M | 2.04M | 2.23M |
| Current Income Taxes Payable | 1.08M | 1.37M | 1.40M | 1.26M | 1.06M | 650.88K |
| Current Unearned Revenue | 1.04M | 1.11M | 1.10M | |||
| Other Current Liabilities | 17.28M | 18.73M | 25.42M | 84.38K | 345.81K | 387.94K |
| Total Current Liabilities | 60.12M | 59.57M | 63.55M | 17.57M | 12.59M | 11.23M |
| Long-Term Debt | 237.12K | 6.59M | 14.36M | |||
| Long-Term Leases | 3.34M | 3.57M | 5.23M | 1.80M | 2.60M | 2.84M |
| Long-Term Unearned Revenue | 1.32M | 2.63M | ||||
| Pension & Post-Retirement Benefits | 85.37K | 16.09K | 14.67K | 15.21K | 14.67K | 15.52K |
| Long-Term Deferred Tax Liabilities | 94.27K | 6.61M | 208.78K | |||
| Other Long-Term Liabilities | 15.00M | 269.47K | ||||
| Total Liabilities | 63.88M | 69.74M | 104.77M | 19.87M | 16.53M | 16.71M |
| Common Stock | 126.00 | 126.00 | 108.00 | 835.00 | ||
| Additional Paid-In Capital | 83.47M | 82.93M | 50.31M | 3.04M | 3.05M | 3.05M |
| Retained Earnings | -28.71M | -33.07M | 57.05M | 59.30M | 47.39M | 38.39M |
| Treasury Stock | -244.21K | -244.21K | -121.43K | |||
| Comprehensive Income & Other | -4.76M | -3.08M | -2.17M | -3.31M | -4.13M | -4.30M |
| Total Common Equity | 49.75M | 46.55M | 105.07M | 59.03M | 46.31M | 37.14M |
| Minority Interest | 1.50M | 1.79M | 3.88M | 951.72K | 759.38K | 576.04K |
| Shareholders' Equity | 51.24M | 48.34M | 108.95M | 59.99M | 47.06M | 37.71M |
| Total Liabilities & Equity | 115.13M | 118.08M | 213.72M | 79.85M | 63.59M | 54.42M |
| Total Debt | 16.36M | 23.39M | 39.35M | 4.15M | 4.64M | 5.07M |
| Net Cash (Debt) | 1.30M | -4.96M | -8.89M | 16.26M | 8.48M | 4.50M |
| Net Cash Per Share | 0.11 | -0.43 | -0.94 | 2.34 | ||
| Filing Date Shares Outstanding | 12.65M | 12.62M | 11.01M | 6.96M | ||
| Total Common Shares Outstanding | 12.65M | 12.62M | 10.77M | 6.96M | ||
| Working Capital | -24.91M | -24.13M | -18.48M | 9.36M | 6.35M | 3.71M |
| Book Value Per Share | 3.93 | 3.69 | 9.76 | 8.49 | ||
| Tangible Book Value | 15.20M | 11.63M | -22.57M | 43.93M | 36.65M | 29.61M |
| Tangible Book Value Per Share | 1.20 | 0.92 | -2.10 | 6.31 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -81.66M | -89.90M | -1.48M | 13.70M | 15.78M | 12.87M |
| Depreciation & Amortization | 12.93M | 15.15M | 10.79M | 5.42M | 4.60M | 3.86M |
| Other Amortization | 966.70K | 2.77M | 2.16M | |||
| Asset Writedown & Restructuring Costs | 91.82M | 91.82M | -25.35K | -371.63K | -1.55M | |
| Stock-Based Compensation | 1.79M | 4.09M | 4.71M | |||
| Provision & Write-off of Bad Debts | 753.79K | 725.06K | 1.36M | 304.36K | 516.91K | 311.31K |
| Other Operating Activities | -2.12M | -2.08M | 70.40K | 192.35K | 1.37M | 2.20M |
| Change in Accounts Receivable | -1.51M | -2.43M | -689.02K | -529.49K | 349.28K | -898.61K |
| Change in Inventory | 41.56K | -1.28M | -958.11K | -11.67K | -52.36K | -32.34K |
| Change in Accounts Payable | 6.05M | 7.96M | 4.33M | 3.63M | 1.38M | 354.19K |
| Change in Unearned Revenue | -134.08K | -60.38K | 33.59K | |||
| Change in Income Taxes | 1.41M | 1.47M | -503.26K | 826.25K | -1.61M | -1.10M |
| Change in Other Net Operating Assets | -2.14M | -2.88M | 4.10M | 186.04K | 1.17M | 5.14M |
| Operating Cash Flow | 28.20M | 25.36M | 23.92M | 23.69M | 23.14M | 21.16M |
| Capital Expenditures | -3.63M | -6.18M | -7.16M | -5.74M | -6.81M | -7.88M |
| Cash Acquisitions | -1.58M | -2.92M | -15.46M | |||
| Sale (Purchase) of Intangibles | -3.66M | -7.46M | -14.83M | -7.35M | -3.23M | -3.23M |
| Investment in Securities | -5.41M | -5.43M | 19.68K | 24.17K | -15.12K | 2.56M |
| Investing Cash Flow | -14.28M | -22.00M | -37.43M | -13.07M | -10.05M | -8.55M |
| Long-Term Debt Issued | 2.15M | 34.72M | ||||
| Long-Term Debt Repaid | -24.25M | -6.15M | -2.35M | -2.58M | -1.51M | |
| Lease Payments | -2.97M | -2.75M | -2.47M | -2.35M | -2.08M | -1.51M |
| Net Debt Issued (Repaid) | -15.05M | -22.10M | 28.57M | -2.35M | -2.58M | -1.51M |
| Issuance of Common Stock | 2.33M | 2.96M | 34.80K | 1.58M | ||
| Repurchase of Common Stock | -122.78K | -122.78K | -123.10K | |||
| Common Dividends Paid | -144.78K | -144.78K | -769.53K | -1.80M | -6.78M | -11.60M |
| Other Financing Activities | -49.19K | -7.75K | ||||
| Financing Cash Flow | -13.04M | -19.40M | 27.71M | -4.15M | -7.79M | -13.10M |
| Foreign Exchange Rate Adjustments | -5.70M | 4.00M | -4.47M | 825.77K | -1.72M | -5.04M |
| Net Cash Flow | -4.82M | -12.05M | 9.72M | 7.30M | 3.58M | -5.52M |
| Free Cash Flow | 24.56M | 19.17M | 16.75M | 17.95M | 16.34M | 13.28M |
| Free Cash Flow Margin | 12.46% | 10.48% | 11.09% | 19.30% | 21.80% | 22.00% |
| Free Cash Flow Per Share | 2.00 | 1.65 | 1.77 | 2.58 | ||
| Levered Free Cash Flow | 5.57M | 2.92M | 15.66M | 4.88M | 5.63M | |
| Unlevered Free Cash Flow | 6.03M | 3.01M | 15.70M | 4.91M | 5.65M | |
| Free Cash Flow After Leases | 21.60M | 16.42M | 14.28M | 15.59M | 14.26M | 11.78M |
| Cash Interest Paid | 1.30M | 1.79M | 1.35M | 36.16K | 43.30K | 67.66K |
| Cash Income Tax Paid | 3.61M | 4.03M | 3.92M | 1.99M | 1.18M | 1.10M |
| Change in Working Capital | 3.72M | 2.79M | 6.31M | 4.10M | 1.24M | 3.46M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 123.55M | 113.06M | 255.90M | |||
| Enterprise Value | 122.25M | 120.18M | 260.83M | |||
| Last Close Price | 9.77 | 9.61 | 23.76 | |||
| Forward PE | 11.67 | 60.06 | ||||
| PS Ratio | 0.63 | 0.62 | 1.69 | |||
| PB Ratio | 2.48 | 2.34 | 2.35 | |||
| P/TBV Ratio | 8.13 | 9.72 | ||||
| P/FCF Ratio | 5.03 | 5.90 | 15.28 | |||
| P/OCF Ratio | 4.38 | 4.46 | 10.70 | |||
| EV/Sales Ratio | 0.62 | 0.66 | 1.73 | |||
| EV/EBITDA Ratio | 7.37 | 11.13 | 19.27 | |||
| EV/EBIT Ratio | 33.42 | 95.06 | ||||
| EV/FCF Ratio | 4.98 | 6.27 | 15.57 | |||
| Debt / Equity Ratio | 0.32 | 0.48 | 0.36 | 0.07 | 0.10 | 0.13 |
| Debt / EBITDA Ratio | 0.78 | 1.56 | 2.32 | 0.19 | 0.18 | 0.23 |
| Debt / FCF Ratio | 0.67 | 1.22 | 2.35 | 0.23 | 0.28 | 0.38 |
| Net Debt / Equity Ratio | -0.03 | 0.10 | 0.08 | -0.27 | -0.18 | -0.12 |
| Net Debt / EBITDA Ratio | -0.08 | 0.46 | 0.66 | -0.85 | -0.41 | -0.25 |
| Net Debt / FCF Ratio | -0.05 | 0.26 | 0.53 | -0.91 | -0.52 | -0.34 |
| Asset Turnover | 1.21 | 1.10 | 1.03 | 1.30 | 1.27 | |
| Inventory Turnover | 18.57 | 16.78 | 30.72 | 193.25 | 202.10 | |
| Quick Ratio | 0.49 | 0.49 | 0.63 | 1.51 | 1.44 | 1.25 |
| Current Ratio | 0.59 | 0.59 | 0.71 | 1.53 | 1.50 | 1.33 |
| Return on Equity (ROE) | -95.17% | -116.96% | -1.67% | 25.96% | 37.69% | |
| Return on Assets (ROA) | 1.41% | -1.64% | 1.17% | 11.99% | 16.92% | |
| Return on Invested Capital (ROIC) | 7.12% | -5.08% | -3.96% | 30.04% | 41.59% | 39.36% |
| Return on Capital Employed (ROCE) | 6.70% | -7.40% | 1.80% | 22.10% | 31.30% | 33.10% |
| Earnings Yield | -68.01% | -79.52% | -0.58% | |||
| FCF Yield | 19.88% | 16.96% | 6.55% | |||
| Payout Ratio | 13.13% | 42.98% | 90.11% | |||
| Buyback Yield / Dilution | -13.56% | -22.52% | -35.98% |