10-K · March 10, 2026
Medallion Financial (MFIN) positions itself as a specialty lender focused on consumer (recreation and home improvement) and lower-middle-market commercial lending, with total assets of $2.96 billion at December 31, 2025…
Earnings analysis · 10-Q
MFIN earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Medallion Financial Corp. reported Q1 2026 results with revenue of $54.5 million and diluted EPS of $0.20, both of which fell short of consensus estimates. The company experienced growth in its recreation and home…
Read full summary
Medallion Financial Corp. reported Q1 2026 results with revenue of $54.5 million and diluted EPS of $0.20, both of which fell short of consensus estimates. The company experienced growth in its recreation and home improvement segments but faced credit loss provisions impacting net income. Despite a challenging operating environment, management remains focused on maintaining dividend payments and managing loan origination quality.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.2
- Segment
- Recreation Lending
- Segment
- Home Improvement Lending
- Segment
- Commercial Lending
- Segment
- Taxi Medallion Lending
What stood out
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Revenue Missed Estimates
Actual revenue was $54.5 million, below $56.4 million estimate, a decrease of 15.8% year-over-year.
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EPS Disappoints
Diluted EPS was $0.20, missing the estimated $0.25 and down from $0.50 one year ago.
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Strong Loan Originations
Total loan originations reached $376.9 million, up from $281.7 million in Q1 2025, reflecting a 34% year-over-year growth.
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Increased Net Interest Income
Net interest income rose by 5% to $54.1 million, compared to $51.4 million in Q1 2025.
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Dividend Increase Maintained
The quarterly dividend was increased to $0.14 per share from $0.12, demonstrating management's intent to return value to shareholders.
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Growth in Recreation Loans
Recreation lending loans rose to $1.67 billion, with origination jumping 64% compared to the previous year.
What to watch
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Credit Loss Provisions Increase
Provisions for credit losses were $22.5 million, slightly up from $22.0 million in Q1 2025, reflecting growth and risk in loans.
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Declining Earnings Visibility
Net income decreased to $5.0 million from $12.0 million in the prior year, amid challenging economic conditions affecting profitability.
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High Allowance for Credit Losses
Allowance for credit losses increased to $116.7 million, representing 4.48% of total loans, highlighting ongoing credit quality concerns.
Management's outlook
Management has not provided updated quantitative guidance for the upcoming quarters, citing uncertainty in economic conditions.
Earlier filings 4
10-K · March 13, 2025
Medallion Financial reports growth in scale and a concentrated, high-yield consumer loan franchise: total assets rose to $2.9 billion at December 31, 2024 from $2.6 billion at year-end 2023, driven by a $1.42 billion…
10-K · March 7, 2024
Medallion Financial positions itself as a specialty finance company focused on growing consumer (recreation and home improvement) and commercial lending. Assets increased to $2.6 billion as of December 31, 2023 (from…
10-K · March 14, 2022
Medallion Financial positions itself as a specialty finance firm focused on growing consumer lending (recreation and home improvement) and expanding commercial lending while exiting non‑core investments and cutting…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.