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Moelis & Co (MC) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026.

Top risk flagged: Regulatory risk: $10.0 million SEC settlement in 2023 over recordkeeping of business communications on messaging apps

FY2025 key financial metrics · XBRL

Source: XBRL data from the Moelis & Co (MC) FY2025 10-K on SEC EDGAR. USD.

AI summary of each section, grounded in the filing text

Core business: global independent investment bank providing strategic financial advisory across M&A, recapitalizations, restructuring, capital markets, serving diverse clients worldwide
New emphasis on private capital advisory services delivering customized solutions like continuation funds, secondaries, and fundless-sponsor capital raising
Strategic growth via expanding Managing Directors by 95 in past five years, broadening sector, product and regional capabilities focusing on largest fee pool opportunities
Workforce scale: 1,416 employees with 1,014 advisory professionals and 178 Managing Directors as of Feb 4, 2026, highlighting rapid expansion and talent development
Noteworthy fact: total stock return since IPO approx. 506% as of Dec 31, 2025, reflecting strong performance and client relationship longevity

Revenue $1,516.8M in 2025, up 27% YoY from $1,194.5M in 2024, driven by higher average fees per completed transaction
Operating margin 18.1% in 2025 vs 14.5% in 2024 (Operating income $273.9M vs $172.9M), driven by revenue growth exceeding expense increase
Best segment: Advisory revenues from 254 clients paying ≥$1M fees; worst: non-compensation expenses up 18% ($225.9M vs $191.4M) despite being only 15% of revenues
Cash flow: Operating cash inflow $576.3M; financing outflow $283.9M mainly for dividends and share repurchases; dividends paid $2.60/share in 2025
Outlook/risk: Continued fee unpredictability due to transaction completion uncertainties; Board authorized additional $300M share repurchase; ongoing liquidity supported by $509.4M cash and credit facilities totaling $50M

Regulatory risk: $10.0 million SEC settlement in 2023 over recordkeeping of business communications on messaging apps
Macroeconomic risk: Revenue tied to transaction volumes, threatened by rising interest rates and global economic uncertainties including recession and geopolitical conflicts
Operational risk: Rapid growth demands costly recruitment and training, with 9 managing directors hired in 2025; scaling new offices profitably is uncertain
Competitive risk: Larger financial institutions with diversified offerings pose pricing pressure and market share threat
Financial risk: Revenue volatility due to reliance on advisory fees tied to transaction closings, lacking stable contracted revenue sources

Generated from the filing text; verify against the original. How to read a 10-K

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