Montrose Environmental Group (MEG) Financials

$15.08 +0.57 (+3.93%)

As of 04/24/2025 03:53 PM Eastern

Annual Income Statements for Montrose Environmental Group

This table shows Montrose Environmental Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-48	-47	-73
Consolidated Net Income / (Loss)	-32	-31	-62
Net Income / (Loss) Continuing Operations	-32	-31	-62
Total Pre-Tax Income	-30	-32	-54
Total Operating Income	-28	-28	-37
Total Gross Profit	193	240	278
Total Revenue	544	624	696
Operating Revenue	544	624	696
Total Cost of Revenue	352	384	418
Operating Cost of Revenue	352	384	418
Total Operating Expenses	221	269	315
Selling, General & Admin Expense	176	223	262
Depreciation Expense	47	46	53
Other Special Charges / (Income)	-3.23	0.08	0.53
Total Other Income / (Expense), net	-1.56	-3.42	-18
Interest Expense	5.24	7.79	16
Other Income / (Expense), net	3.68	4.37	-1.74
Income Tax Expense	2.25	-0.98	8.00
Preferred Stock Dividends Declared	16	16	11
Basic Earnings per Share	($1.62)	($1.57)	($2.22)
Weighted Average Basic Shares Outstanding	29.69M	30.06M	33.06M
Diluted Earnings per Share	($1.62)	($1.57)	($2.22)
Weighted Average Diluted Shares Outstanding	29.69M	30.06M	33.06M
Weighted Average Basic & Diluted Shares Outstanding	29.87M	30.38M	34.34M

This table shows Montrose Environmental Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-9.82	-15	-19	-11	-12	-5.54	-16	-13	-13	-31
Consolidated Net Income / (Loss)	-5.72	-11	-15	-7.17	-7.53	-1.44	-13	-10	-11	-28
Net Income / (Loss) Continuing Operations	-5.72	-11	-15	-7.17	-7.53	-1.44	-13	-10	-11	-28
Total Pre-Tax Income	-5.93	-10	-13	-7.02	-6.20	-5.26	-13	-7.55	-9.20	-25
Total Operating Income	-6.34	-8.29	-9.98	-6.09	-3.44	-8.91	-10	-2.65	-1.16	-23
Total Gross Profit	48	49	50	61	66	64	59	69	73	77
Total Revenue	130	140	131	159	168	166	155	173	179	189
Operating Revenue	130	140	131	159	168	166	155	173	179	189
Total Cost of Revenue	82	91	82	98	102	102	97	104	106	112
Operating Cost of Revenue	82	91	82	98	102	102	97	104	106	112
Total Operating Expenses	54	57	60	67	69	73	69	72	74	100
Selling, General & Admin Expense	43	45	50	55	57	61	57	59	61	84
Depreciation Expense	12	12	11	11	12	12	12	13	13	15
Other Special Charges / (Income)	0.06	0.25	-0.40	0.35	0.46	-0.33	0.11	0.14	0.14	0.15
Total Other Income / (Expense), net	0.41	-2.16	-3.38	-0.93	-2.76	3.65	-2.80	-4.90	-8.04	-1.86
Interest Expense	1.40	1.23	1.54	1.88	2.09	2.29	3.31	3.98	4.14	4.44
Other Income / (Expense), net	1.81	-0.94	-1.84	0.95	-0.67	5.93	0.51	-0.92	-3.90	2.58
Income Tax Expense	-0.21	0.36	1.37	0.15	1.32	-3.82	0.49	2.62	1.37	3.52
Preferred Stock Dividends Declared	4.10	4.10	4.10	4.10	4.10	4.10	2.81	2.75	2.75	2.75
Basic Earnings per Share	($0.33)	($0.50)	($0.63)	($0.38)	($0.39)	($0.17)	($0.53)	($0.39)	($0.39)	($0.91)
Weighted Average Basic Shares Outstanding	29.69M	29.69M	29.86M	30.05M	30.14M	30.06M	30.38M	33.32M	34.24M	33.06M
Diluted Earnings per Share	($0.33)	($0.50)	($0.63)	($0.38)	($0.39)	($0.17)	($0.53)	($0.39)	($0.39)	($0.91)
Weighted Average Diluted Shares Outstanding	29.69M	29.69M	29.86M	30.05M	30.14M	30.06M	30.38M	33.32M	34.24M	33.06M
Weighted Average Basic & Diluted Shares Outstanding	29.71M	29.87M	30.08M	30.15M	30.19M	30.38M	34.08M	34.23M	34.30M	34.34M

This table details how cash moves in and out of Montrose Environmental Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-57	-66	-9.81
Net Cash From Operating Activities	21	56	22
Net Cash From Continuing Operating Activities	21	56	22
Net Income / (Loss) Continuing Operations	-32	-31	-62
Consolidated Net Income / (Loss)	-32	-31	-62
Depreciation Expense	47	46	53
Amortization Expense	9.29	10	12
Non-Cash Adjustments To Reconcile Net Income	20	43	68
Changes in Operating Assets and Liabilities, net	-25	-12	-48
Net Cash From Investing Activities	-39	-102	-138
Net Cash From Continuing Investing Activities	-39	-102	-138
Purchase of Property, Plant & Equipment	-9.58	-30	-21
Acquisitions	-29	-70	-116
Sale of Property, Plant & Equipment	0.17	0.97	2.15
Other Investing Activities, net	-0.06	-3.48	-3.27
Net Cash From Financing Activities	-39	-20	106
Net Cash From Continuing Financing Activities	-39	-20	106
Repayment of Debt	-13	-17	-459
Repurchase of Common Equity	-0.18	0.00	-0.35
Payment of Dividends	-16	-16	-11
Issuance of Debt	0.00	0.00	453
Issuance of Common Equity	0.00	0.00	122
Other Financing Activities, net	-9.46	14	1.70
Cash Interest Paid	6.51	8.06	15
Cash Income Taxes Paid	0.79	1.00	4.19

This table details how cash moves in and out of Montrose Environmental Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-4.83	-3.60	-13	-53	0.05	0.67	-14	7.48	-4.09	0.52
Net Cash From Operating Activities	11	12	3.03	21	17	15	-22	0.89	11	32
Net Cash From Continuing Operating Activities	11	12	3.03	21	17	15	-22	0.89	11	32
Net Income / (Loss) Continuing Operations	-5.72	-11	-15	-7.17	-7.53	-1.44	-13	-10	-11	-28
Consolidated Net Income / (Loss)	-5.72	-11	-15	-7.17	-7.53	-1.44	-13	-10	-11	-28
Depreciation Expense	12	12	11	11	12	12	12	13	13	15
Amortization Expense	2.35	2.36	2.49	2.55	2.63	2.53	2.63	2.80	2.99	3.15
Non-Cash Adjustments To Reconcile Net Income	8.65	13	16	7.70	13	5.72	10.00	13	17	28
Changes in Operating Assets and Liabilities, net	-5.68	-3.15	-11	7.01	-3.30	-4.22	-33	-17	-11	14
Net Cash From Investing Activities	-8.99	-11	-12	-75	-10.00	-4.64	-65	-23	-49	-0.86
Net Cash From Continuing Investing Activities	-8.99	-11	-12	-75	-10.00	-4.64	-65	-23	-49	-0.86
Purchase of Property, Plant & Equipment	-1.91	-4.17	-4.13	-17	-4.02	-4.61	-5.98	-12	-1.16	-2.25
Acquisitions	-7.26	-7.48	-7.16	-58	-3.86	-0.59	-59	-13	-43	-0.52
Sale of Property, Plant & Equipment	-	-	-	-	-	0.97	-	-	-1.67	1.75
Other Investing Activities, net	0.19	0.10	-0.43	-0.51	-2.12	-0.42	0.36	-0.45	-3.35	0.17
Net Cash From Financing Activities	-6.95	-4.71	-4.65	0.70	-6.91	-9.24	73	29	34	-31
Net Cash From Continuing Financing Activities	-6.95	-4.71	-4.65	0.70	-6.91	-9.24	73	29	34	-31
Repayment of Debt	-3.18	-1.06	-3.22	-5.58	-3.70	-4.89	-143	-123	-88	-105
Payment of Dividends	-4.10	-4.10	-4.10	-4.10	-4.10	-4.10	0.00	-5.56	-2.75	-2.75
Issuance of Debt	-	-	0.00	-	-	-	217	36	124	77
Other Financing Activities, net	0.33	0.45	2.66	10	0.89	-0.25	0.12	0.73	0.76	0.09
Cash Interest Paid	1.66	1.66	1.35	1.59	1.90	3.22	3.10	3.76	3.84	4.08
Cash Income Taxes Paid	-0.11	0.20	0.16	1.11	0.11	-0.38	0.29	0.41	2.01	1.48

This table presents Montrose Environmental Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	792	817	990
Total Current Assets	248	201	238
Cash & Equivalents	90	23	13
Accounts Receivable	147	164	211
Prepaid Expenses	10	14	14
Current Deferred & Refundable Income Taxes	0.69	0.03	0.00
Plant, Property, & Equipment, net	36	57	64
Total Noncurrent Assets	508	559	689
Noncurrent Note & Lease Receivables	9.84	13	20
Goodwill	324	364	468
Intangible Assets	142	141	153
Other Noncurrent Operating Assets	32	41	48
Total Liabilities & Shareholders' Equity	792	817	990
Total Liabilities	326	343	451
Total Current Liabilities	111	126	159
Short-Term Debt	16	18	45
Accounts Payable	63	60	64
Current Employee Benefit Liabilities	21	35	34
Other Current Liabilities	12	14	16
Total Noncurrent Liabilities	214	216	292
Long-Term Debt	152	149	205
Noncurrent Deferred & Payable Income Tax Liabilities	5.74	6.06	13
Other Noncurrent Operating Liabilities	56	61	74
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	153	153	93
Total Equity & Noncontrolling Interests	313	321	446
Total Preferred & Common Equity	313	321	446
Total Common Equity	313	321	446
Common Stock	493	532	721
Retained Earnings	-179	-210	-273
Accumulated Other Comprehensive Income / (Loss)	0.01	-0.22	-2.13

This table presents Montrose Environmental Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	789	783	826	836	918	944	1,007
Total Current Assets	246	231	201	213	204	240	247
Cash & Equivalents	94	77	23	23	9.49	17	13
Accounts Receivable	141	139	161	174	178	209	218
Prepaid Expenses	11	15	16	15	17	14	15
Plant, Property, & Equipment, net	34	41	57	58	60	64	66
Total Noncurrent Assets	510	511	568	565	654	640	694
Noncurrent Note & Lease Receivables	9.87	11	11	13	15	15	17
Goodwill	318	326	369	356	463	435	483
Intangible Assets	146	137	137	152	134	143	145
Other Noncurrent Operating Assets	35	36	51	44	41	47	49
Total Liabilities & Shareholders' Equity	789	783	826	836	918	944	1,007
Total Liabilities	320	320	360	368	501	402	465
Total Current Liabilities	103	102	125	135	125	132	128
Short-Term Debt	13	18	17	17	28	30	23
Accounts Payable	58	55	66	71	59	58	58
Current Employee Benefit Liabilities	20	16	26	31	24	28	32
Other Current Liabilities	12	13	15	15	14	15	16
Total Noncurrent Liabilities	216	218	235	233	375	270	337
Long-Term Debt	156	149	156	153	281	189	233
Noncurrent Deferred & Payable Income Tax Liabilities	5.77	7.11	7.45	10	5.85	8.24	8.27
Other Noncurrent Operating Liabilities	55	61	72	71	88	74	95
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	153	153	153	153	93	93	93
Total Equity & Noncontrolling Interests	316	310	313	315	324	449	449
Total Preferred & Common Equity	316	310	313	315	324	449	449
Total Common Equity	316	310	313	315	324	449	449
Common Stock	485	504	514	524	548	683	694
Retained Earnings	-169	-194	-201	-209	-224	-234	-244
Accumulated Other Comprehensive Income / (Loss)	0.05	0.02	-0.10	-0.30	-0.26	-0.22	-0.29

This table displays calculated financial ratios and metrics derived from Montrose Environmental Group's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	-0.37%	14.66%	11.56%
EBITDA Growth	-20.81%	-1.57%	-18.95%
EBIT Growth	-102.73%	1.17%	-59.93%
NOPAT Growth	-196.28%	-1.45%	-29.21%
Net Income Growth	-25.64%	3.02%	-101.93%
EPS Growth	-3.85%	3.09%	-41.40%
Operating Cash Flow Growth	-45.05%	171.31%	-60.31%
Free Cash Flow Firm Growth	28.92%	-149.13%	-97.64%
Invested Capital Growth	3.36%	13.42%	25.59%
Revenue Q/Q Growth	-0.78%	4.39%	3.46%
EBITDA Q/Q Growth	-22.07%	27.23%	-33.91%
EBIT Q/Q Growth	-61.03%	20.62%	-81.66%
NOPAT Q/Q Growth	-46.74%	-2.23%	-61.14%
Net Income Q/Q Growth	-41.55%	23.29%	-75.37%
EPS Q/Q Growth	-27.56%	17.37%	-50.00%
Operating Cash Flow Q/Q Growth	-35.55%	3.83%	360.45%
Free Cash Flow Firm Q/Q Growth	-9.51%	-3.38%	1.50%
Invested Capital Q/Q Growth	0.09%	0.50%	-1.20%
Profitability Metrics	-	-	-
Gross Margin	35.37%	38.50%	39.95%
EBITDA Margin	5.96%	5.12%	3.72%
Operating Margin	-5.15%	-4.55%	-5.27%
EBIT Margin	-4.47%	-3.85%	-5.52%
Profit (Net Income) Margin	-5.84%	-4.94%	-8.95%
Tax Burden Percent	107.61%	96.92%	114.72%
Interest Burden Percent	121.53%	132.41%	141.25%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-3.66%	-3.42%	-3.69%
ROIC Less NNEP Spread (ROIC-NNEP)	-21.62%	-13.30%	-22.95%
Return on Net Nonoperating Assets (RNNOA)	-3.14%	-3.14%	-8.61%
Return on Equity (ROE)	-6.80%	-6.56%	-12.30%
Cash Return on Invested Capital (CROIC)	-6.97%	-16.00%	-26.38%
Operating Return on Assets (OROA)	-2.99%	-2.99%	-4.26%
Return on Assets (ROA)	-3.92%	-3.84%	-6.90%
Return on Common Equity (ROCE)	-4.58%	-4.43%	-9.31%
Return on Equity Simple (ROE_SIMPLE)	-10.16%	-9.61%	-13.96%
Net Operating Profit after Tax (NOPAT)	-20	-20	-26
NOPAT Margin	-3.60%	-3.19%	-3.69%
Net Nonoperating Expense Percent (NNEP)	17.96%	9.88%	19.26%
Return On Investment Capital (ROIC_SIMPLE)	-4.07%	-4.08%	-3.69%
Cost of Revenue to Revenue	64.63%	61.50%	60.05%
SG&A Expenses to Revenue	32.38%	35.70%	37.57%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	40.51%	43.05%	45.22%
Earnings before Interest and Taxes (EBIT)	-24	-24	-38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	32	32	26
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	4.21	3.02	1.43
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.42	1.55	0.91
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.85	2.05	1.24
Enterprise Value to Revenue (EV/Rev)	2.85	2.03	1.39
Enterprise Value to EBITDA (EV/EBITDA)	47.79	39.66	37.32
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	75.08	22.61	43.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.36	0.35	0.46
Long-Term Debt to Equity	0.33	0.31	0.38
Financial Leverage	0.15	0.24	0.38
Leverage Ratio	1.74	1.71	1.78
Compound Leverage Factor	2.11	2.27	2.52
Debt to Total Capital	26.53%	26.02%	31.64%
Short-Term Debt to Total Capital	2.50%	2.78%	5.67%
Long-Term Debt to Total Capital	24.04%	23.24%	25.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	24.10%	23.86%	11.78%
Common Equity to Total Capital	49.36%	50.12%	56.58%
Debt to EBITDA	5.19	5.22	9.64
Net Debt to EBITDA	2.42	4.50	9.14
Long-Term Debt to EBITDA	4.70	4.67	7.91
Debt to NOPAT	-8.58	-8.38	-9.71
Net Debt to NOPAT	-4.00	-7.22	-9.21
Long-Term Debt to NOPAT	-7.78	-7.49	-7.97
Altman Z-Score	2.90	2.11	1.13
Noncontrolling Interest Sharing Ratio	32.69%	32.53%	24.26%
Liquidity Ratios	-	-	-
Current Ratio	2.22	1.59	1.50
Quick Ratio	2.13	1.48	1.41
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-37	-93	-184
Operating Cash Flow to CapEx	219.46%	195.83%	115.90%
Free Cash Flow to Firm to Interest Expense	-7.13	-11.93	-11.59
Operating Cash Flow to Interest Expense	3.94	7.19	1.40
Operating Cash Flow Less CapEx to Interest Expense	2.15	3.52	0.19
Efficiency Ratios	-	-	-
Asset Turnover	0.67	0.78	0.77
Accounts Receivable Turnover	3.81	4.01	3.71
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	16.12	13.44	11.55
Accounts Payable Turnover	5.32	6.23	6.77
Days Sales Outstanding (DSO)	95.79	90.96	98.26
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	68.64	58.63	53.95
Cash Conversion Cycle (CCC)	27.15	32.33	44.31
Capital & Investment Metrics	-	-	-
Invested Capital	545	618	776
Invested Capital Turnover	1.02	1.07	1.00
Increase / (Decrease) in Invested Capital	18	73	158
Enterprise Value (EV)	1,550	1,266	966
Market Capitalization	1,319	970	636
Book Value per Share	$10.54	$10.64	$13.01
Tangible Book Value per Share	($5.14)	($6.10)	($5.08)
Total Capital	634	641	789
Total Debt	168	167	250
Total Long-Term Debt	152	149	205
Net Debt	78	144	237
Capital Expenditures (CapEx)	9.41	29	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	62	69	111
Debt-free Net Working Capital (DFNWC)	152	92	124
Net Working Capital (NWC)	136	75	79
Net Nonoperating Expense (NNE)	12	11	37
Net Nonoperating Obligations (NNO)	78	144	237
Total Depreciation and Amortization (D&A)	57	56	64
Debt-free, Cash-free Net Working Capital to Revenue	11.48%	11.08%	15.96%
Debt-free Net Working Capital to Revenue	27.98%	14.81%	17.82%
Net Working Capital to Revenue	25.07%	11.96%	11.39%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.62)	($1.57)	($2.22)
Adjusted Weighted Average Basic Shares Outstanding	29.69M	30.06M	33.06M
Adjusted Diluted Earnings per Share	($1.62)	($1.57)	($2.22)
Adjusted Weighted Average Diluted Shares Outstanding	29.69M	30.06M	33.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.87M	30.38M	34.34M
Normalized Net Operating Profit after Tax (NOPAT)	-22	-20	-25
Normalized NOPAT Margin	-4.02%	-3.18%	-3.64%
Pre Tax Income Margin	-5.43%	-5.10%	-7.80%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-4.64	-3.09	-2.42
NOPAT to Interest Expense	-3.74	-2.55	-1.62
EBIT Less CapEx to Interest Expense	-6.44	-6.76	-3.63
NOPAT Less CapEx to Interest Expense	-5.54	-6.22	-2.83
Payout Ratios	-	-	-
Dividend Payout Ratio	-51.54%	-53.14%	-17.76%
Augmented Payout Ratio	-52.12%	-53.14%	-18.31%

This table displays calculated financial ratios and metrics derived from Montrose Environmental Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.71%	-2.98%	-2.41%	13.72%	28.87%	18.80%	18.18%	8.94%	6.40%	14.07%
EBITDA Growth	-48.87%	-66.24%	-86.63%	-4.21%	11.25%	145.97%	282.19%	33.42%	7.69%	-115.29%
EBIT Growth	-193.36%	-230,525.00%	-128.23%	4.74%	9.19%	67.73%	19.08%	30.53%	-23.03%	-580.69%
NOPAT Growth	-216.26%	-1,409.64%	-30.63%	-6.06%	45.74%	-7.49%	-0.90%	56.49%	66.26%	-156.36%
Net Income Growth	-356.96%	-634.51%	-95.32%	7.44%	-31.56%	86.67%	9.25%	-41.76%	-40.39%	-1,858.57%
EPS Growth	-371.43%	-233.33%	-61.54%	5.00%	-18.18%	66.00%	15.87%	-2.63%	0.00%	-435.29%
Operating Cash Flow Growth	-63.88%	-47.71%	116.53%	39.63%	52.70%	16.55%	-827.01%	-95.84%	-32.75%	119.63%
Free Cash Flow Firm Growth	38.08%	48.25%	71.23%	-251.24%	-189.72%	-237.30%	-997.23%	-58.95%	-135.18%	-119.42%
Invested Capital Growth	3.96%	3.36%	1.58%	14.34%	12.96%	13.42%	29.62%	20.73%	27.76%	25.59%
Revenue Q/Q Growth	-6.86%	7.06%	-5.80%	21.06%	5.55%	-1.31%	-6.29%	11.59%	3.09%	5.80%
EBITDA Q/Q Growth	1.51%	-49.82%	-73.62%	612.71%	17.89%	10.96%	-59.01%	148.81%	-4.85%	-115.76%
EBIT Q/Q Growth	16.18%	-103.73%	-28.03%	56.43%	20.09%	27.60%	-221.06%	62.60%	-41.51%	-300.55%
NOPAT Q/Q Growth	-10.39%	-30.72%	-20.33%	38.92%	43.53%	-158.97%	-12.95%	73.66%	56.21%	-1,867.61%
Net Income Q/Q Growth	26.20%	-89.02%	-36.14%	51.26%	-4.89%	80.85%	-826.93%	23.86%	-3.87%	-167.16%
EPS Q/Q Growth	17.50%	-51.52%	-26.00%	39.68%	-2.63%	56.41%	-211.76%	26.42%	0.00%	-133.33%
Operating Cash Flow Q/Q Growth	-27.81%	12.40%	-75.74%	609.24%	-21.05%	-14.21%	-251.35%	104.06%	1,175.84%	180.17%
Free Cash Flow Firm Q/Q Growth	-8.44%	6.52%	33.76%	-423.08%	10.55%	-8.83%	-115.48%	24.23%	-32.35%	-1.54%
Invested Capital Q/Q Growth	1.02%	0.09%	1.62%	11.28%	-0.20%	0.50%	16.13%	3.65%	5.61%	-1.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.89%	34.89%	37.89%	38.28%	39.17%	38.51%	37.84%	39.95%	40.90%	40.78%
EBITDA Margin	7.16%	3.36%	0.94%	5.53%	6.18%	6.95%	3.04%	6.78%	6.25%	-0.93%
Operating Margin	-4.87%	-5.94%	-7.59%	-3.83%	-2.05%	-5.38%	-6.48%	-1.53%	-0.65%	-12.08%
EBIT Margin	-3.47%	-6.61%	-8.99%	-3.23%	-2.45%	-1.80%	-6.15%	-2.06%	-2.83%	-10.72%
Profit (Net Income) Margin	-4.39%	-7.75%	-11.20%	-4.51%	-4.48%	-0.87%	-8.60%	-5.87%	-5.91%	-14.93%
Tax Burden Percent	96.49%	103.42%	110.24%	102.15%	121.35%	27.38%	103.83%	134.68%	114.88%	114.23%
Interest Burden Percent	130.92%	113.32%	113.05%	136.47%	150.80%	176.79%	134.59%	211.22%	181.78%	121.93%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-3.50%	-4.23%	-5.24%	-2.60%	-1.48%	-4.04%	-4.63%	-1.04%	-0.44%	-8.45%
ROIC Less NNEP Spread (ROIC-NNEP)	-4.36%	-11.59%	-14.53%	-5.24%	-6.10%	0.28%	-7.86%	-5.77%	-5.44%	-14.89%
Return on Net Nonoperating Assets (RNNOA)	-1.70%	-1.69%	-2.60%	-1.24%	-1.44%	0.07%	-3.49%	-2.01%	-2.10%	-5.59%
Return on Equity (ROE)	-5.20%	-5.91%	-7.83%	-3.84%	-2.92%	-3.98%	-8.11%	-3.06%	-2.54%	-14.04%
Cash Return on Invested Capital (CROIC)	-6.39%	-6.97%	-5.43%	-17.10%	-15.53%	-16.00%	-28.94%	-21.37%	-26.66%	-26.38%
Operating Return on Assets (OROA)	-2.62%	-4.43%	-6.18%	-2.25%	-1.80%	-1.39%	-4.69%	-1.54%	-2.07%	-8.26%
Return on Assets (ROA)	-3.31%	-5.19%	-7.70%	-3.13%	-3.30%	-0.67%	-6.55%	-4.39%	-4.32%	-11.51%
Return on Common Equity (ROCE)	-3.13%	-3.98%	-5.26%	-2.58%	-1.97%	-2.68%	-5.85%	-2.31%	-1.92%	-10.63%
Return on Equity Simple (ROE_SIMPLE)	-7.10%	0.00%	-12.58%	-12.28%	-12.78%	0.00%	-9.09%	-7.24%	-7.91%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.44	-5.80	-6.98	-4.27	-2.41	-6.24	-7.05	-1.86	-0.81	-16
NOPAT Margin	-3.41%	-4.16%	-5.31%	-2.68%	-1.43%	-3.76%	-4.54%	-1.07%	-0.45%	-8.46%
Net Nonoperating Expense Percent (NNEP)	0.86%	7.37%	9.29%	2.64%	4.62%	-4.32%	3.23%	4.73%	5.00%	6.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.21%	-	-	-	-1.28%	-	-	-	-2.30%
Cost of Revenue to Revenue	63.11%	65.11%	62.11%	61.72%	60.83%	61.49%	62.16%	60.05%	59.10%	59.22%
SG&A Expenses to Revenue	32.89%	32.38%	37.75%	34.72%	33.88%	36.86%	36.74%	34.18%	34.06%	44.67%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	41.76%	40.84%	45.48%	42.11%	41.22%	43.88%	44.32%	41.48%	41.55%	52.87%
Earnings before Interest and Taxes (EBIT)	-4.53	-9.23	-12	-5.15	-4.11	-2.98	-9.56	-3.58	-5.06	-20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9.33	4.68	1.24	8.80	10	12	4.72	12	11	-1.76
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.16	4.21	3.44	4.05	2.80	3.02	3.67	3.38	2.00	1.43
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.82	2.42	1.97	2.26	1.48	1.55	1.84	2.29	1.34	0.91
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.25	2.85	2.36	2.55	1.92	2.05	2.21	2.44	1.57	1.24
Enterprise Value to Revenue (EV/Rev)	2.24	2.85	2.42	2.80	1.98	2.03	2.44	2.74	1.84	1.39
Enterprise Value to EBITDA (EV/EBITDA)	29.47	47.79	53.56	65.28	47.10	39.66	44.70	47.28	31.58	37.32
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	38.28	75.08	31.16	32.63	21.91	22.61	51.11	174.66	256.02	43.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.36	0.36	0.37	0.36	0.35	0.74	0.40	0.47	0.46
Long-Term Debt to Equity	0.33	0.33	0.32	0.33	0.33	0.31	0.67	0.35	0.43	0.38
Financial Leverage	0.39	0.15	0.18	0.24	0.24	0.24	0.44	0.35	0.39	0.38
Leverage Ratio	1.90	1.74	1.69	1.73	1.73	1.71	1.93	1.76	1.82	1.78
Compound Leverage Factor	2.48	1.97	1.91	2.36	2.62	3.02	2.60	3.71	3.32	2.17
Debt to Total Capital	26.40%	26.53%	26.53%	27.10%	26.65%	26.02%	42.57%	28.77%	32.09%	31.64%
Short-Term Debt to Total Capital	1.99%	2.50%	2.83%	2.70%	2.73%	2.78%	3.92%	3.95%	2.90%	5.67%
Long-Term Debt to Total Capital	24.41%	24.04%	23.70%	24.40%	23.92%	23.24%	38.65%	24.82%	29.19%	25.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	23.98%	24.10%	24.27%	23.93%	23.98%	23.86%	12.79%	12.22%	11.64%	11.78%
Common Equity to Total Capital	49.62%	49.36%	49.20%	48.97%	49.37%	50.12%	44.64%	59.01%	56.27%	56.58%
Debt to EBITDA	4.05	5.19	6.84	7.20	6.77	5.22	8.74	5.70	6.54	9.64
Net Debt to EBITDA	1.80	2.42	3.70	6.24	5.85	4.50	8.47	5.26	6.21	9.14
Long-Term Debt to EBITDA	3.74	4.70	6.11	6.49	6.08	4.67	7.93	4.92	5.95	7.91
Debt to NOPAT	-12.60	-8.58	-7.87	-8.06	-8.73	-8.38	-15.51	-12.47	-16.06	-9.71
Net Debt to NOPAT	-5.60	-4.00	-4.26	-6.98	-7.54	-7.22	-15.03	-11.50	-15.24	-9.21
Long-Term Debt to NOPAT	-11.65	-7.78	-7.03	-7.26	-7.84	-7.49	-14.08	-10.76	-14.61	-7.97
Altman Z-Score	2.47	2.97	2.49	2.54	1.90	2.20	1.86	2.75	1.62	1.19
Noncontrolling Interest Sharing Ratio	39.83%	32.69%	32.83%	32.76%	32.64%	32.53%	27.92%	24.40%	24.34%	24.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.38	2.22	2.26	1.61	1.58	1.59	1.63	1.82	1.93	1.50
Quick Ratio	2.27	2.13	2.11	1.48	1.47	1.48	1.50	1.71	1.80	1.41
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-25	-24	-16	-82	-73	-79	-171	-130	-171	-174
Operating Cash Flow to CapEx	580.61%	299.45%	73.27%	127.75%	422.10%	399.95%	-368.31%	7.48%	403.61%	6,391.20%
Free Cash Flow to Firm to Interest Expense	-17.97	-19.14	-10.11	-43.42	-34.90	-34.71	-51.71	-32.58	-41.44	-39.18
Operating Cash Flow to Interest Expense	7.93	10.16	1.97	11.45	8.12	6.36	-6.66	0.22	2.76	7.19
Operating Cash Flow Less CapEx to Interest Expense	6.57	6.77	-0.72	2.49	6.20	4.77	-8.47	-2.78	2.07	7.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.75	0.67	0.69	0.69	0.74	0.78	0.76	0.75	0.73	0.77
Accounts Receivable Turnover	4.32	3.81	3.97	3.78	3.79	4.01	4.09	3.58	3.43	3.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	16.97	16.12	14.79	12.25	13.06	13.44	12.91	10.97	10.85	11.55
Accounts Payable Turnover	7.10	5.32	6.03	5.61	5.77	6.23	6.99	6.49	6.36	6.77
Days Sales Outstanding (DSO)	84.52	95.79	91.86	96.48	96.39	90.96	89.33	101.88	106.52	98.26
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	51.41	68.64	60.50	65.01	63.21	58.63	52.20	56.21	57.41	53.95
Cash Conversion Cycle (CCC)	33.11	27.15	31.36	31.47	33.18	32.33	37.14	45.67	49.11	44.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	544	545	553	616	615	618	717	744	785	776
Invested Capital Turnover	1.03	1.02	0.99	0.97	1.03	1.07	1.02	0.97	0.96	1.00
Increase / (Decrease) in Invested Capital	21	18	8.60	77	70	73	164	128	171	158
Enterprise Value (EV)	1,226	1,550	1,309	1,570	1,182	1,266	1,583	1,813	1,236	966
Market Capitalization	999	1,319	1,065	1,267	882	970	1,190	1,519	900	636
Book Value per Share	$10.66	$10.54	$10.38	$10.41	$10.44	$10.64	$10.68	$13.17	$13.12	$13.01
Tangible Book Value per Share	($5.00)	($5.14)	($5.14)	($6.41)	($6.40)	($6.10)	($9.00)	($3.80)	($5.20)	($5.08)
Total Capital	638	634	630	639	638	641	727	760	798	789
Total Debt	168	168	167	173	170	167	309	219	256	250
Total Long-Term Debt	156	152	149	156	153	149	281	189	233	205
Net Debt	75	78	90	150	147	144	300	202	243	237
Capital Expenditures (CapEx)	1.91	4.17	4.13	17	4.02	3.64	5.98	12	2.83	0.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	62	62	70	70	72	69	98	121	129	111
Debt-free Net Working Capital (DFNWC)	155	152	147	93	96	92	107	138	142	124
Net Working Capital (NWC)	142	136	129	76	78	75	79	108	119	79
Net Nonoperating Expense (NNE)	1.28	5.01	7.74	2.91	5.12	-4.80	6.31	8.31	9.75	12
Net Nonoperating Obligations (NNO)	75	78	90	150	147	144	300	202	243	237
Total Depreciation and Amortization (D&A)	14	14	13	14	14	14	14	15	16	19
Debt-free, Cash-free Net Working Capital to Revenue	11.22%	11.48%	12.89%	12.49%	12.12%	11.08%	15.11%	18.33%	19.14%	15.96%
Debt-free Net Working Capital to Revenue	28.27%	27.98%	27.08%	16.65%	15.99%	14.81%	16.58%	20.88%	21.08%	17.82%
Net Working Capital to Revenue	25.96%	25.07%	23.78%	13.57%	13.08%	11.96%	12.18%	16.35%	17.63%	11.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.33)	($0.50)	($0.63)	($0.38)	($0.39)	($0.17)	($0.53)	($0.39)	($0.39)	($0.91)
Adjusted Weighted Average Basic Shares Outstanding	29.69M	29.69M	29.86M	30.05M	30.14M	30.06M	30.38M	33.32M	34.24M	33.06M
Adjusted Diluted Earnings per Share	($0.33)	($0.50)	($0.63)	($0.38)	($0.39)	($0.17)	($0.53)	($0.39)	($0.39)	($0.91)
Adjusted Weighted Average Diluted Shares Outstanding	29.69M	29.69M	29.86M	30.05M	30.14M	30.06M	30.38M	33.32M	34.24M	33.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.71M	29.87M	30.08M	30.15M	30.19M	30.38M	34.08M	34.23M	34.30M	34.34M
Normalized Net Operating Profit after Tax (NOPAT)	-4.40	-5.63	-7.26	-4.02	-2.09	-6.47	-6.97	-1.76	-0.71	-16
Normalized NOPAT Margin	-3.38%	-4.04%	-5.52%	-2.53%	-1.24%	-3.90%	-4.49%	-1.02%	-0.40%	-8.40%
Pre Tax Income Margin	-4.55%	-7.49%	-10.16%	-4.41%	-3.69%	-3.18%	-8.28%	-4.36%	-5.15%	-13.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.23	-7.51	-7.66	-2.74	-1.97	-1.30	-2.89	-0.90	-1.22	-4.56
NOPAT to Interest Expense	-3.17	-4.72	-4.53	-2.27	-1.15	-2.73	-2.13	-0.47	-0.20	-3.60
EBIT Less CapEx to Interest Expense	-4.60	-10.90	-10.35	-11.70	-3.89	-2.89	-4.70	-3.90	-1.91	-4.67
NOPAT Less CapEx to Interest Expense	-4.54	-8.11	-7.21	-11.23	-3.08	-4.32	-3.94	-3.47	-0.88	-3.71
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-72.96%	-51.54%	-42.05%	-42.68%	-40.77%	-53.14%	-41.70%	-42.36%	-34.94%	-17.76%
Augmented Payout Ratio	-75.76%	-52.12%	-42.05%	-42.68%	-40.77%	-53.14%	-42.88%	-43.43%	-35.92%	-18.31%

Frequently Asked Questions About Montrose Environmental Group's Financials

When does Montrose Environmental Group's financial year end?

According to the most recent income statement we have on file, Montrose Environmental Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Montrose Environmental Group's net income changed over the last 2 years?

Montrose Environmental Group's net income appears to be on an upward trend, with a most recent value of -$62.31 million in 2024, rising from -$31.82 million in 2022. The previous period was -$30.86 million in 2023.

What is Montrose Environmental Group's operating income?

Montrose Environmental Group's total operating income in 2024 was -$36.72 million, based on the following breakdown:

Total Gross Profit: $278.20 million
Total Operating Expenses: $314.92 million

How has Montrose Environmental Group revenue changed over the last 2 years?

Over the last 2 years, Montrose Environmental Group's total revenue changed from $544.42 million in 2022 to $696.40 million in 2024, a change of 27.9%.

How much debt does Montrose Environmental Group have?

Montrose Environmental Group's total liabilities were at $451.16 million at the end of 2024, a 31.7% increase from 2023, and a 38.5% increase since 2022.

How much cash does Montrose Environmental Group have?

In the past 2 years, Montrose Environmental Group's cash and equivalents has ranged from $12.94 million in 2024 to $89.83 million in 2022, and is currently $12.94 million as of their latest financial filing in 2024.

How has Montrose Environmental Group's book value per share changed over the last 2 years?

Over the last 2 years, Montrose Environmental Group's book value per share changed from 10.54 in 2022 to 13.01 in 2024, a change of 23.4%.

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This page (NYSE:MEG) was last updated on 4/25/2025 by MarketBeat.com Staff

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Montrose Environmental Group (MEG) Financials

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Montrose Environmental Group (MEG) Financials

Annual Income Statements for Montrose Environmental Group

Quarterly Income Statements for Montrose Environmental Group

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Quarterly Cash Flow Statements for Montrose Environmental Group

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Quarterly Balance Sheets for Montrose Environmental Group

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Quarterly Metrics and Ratios for Montrose Environmental Group

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