NASDAQ · Financial Statements

FONAR Corporation (FONR) Financial Statements

$19.09 NASDAQ: FONR Market Cap $117.76M

FONAR Corporation most recently reported annual revenue of $104.0M, net profit of $8.0M. Revenue grew at an average annual rate of 3.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

FONAR Corporation: Revenue rose from $73.0M in 2016 to $104.0M in 2025, a change of +42.5% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 19.6% to 11.1%, a shift of -8.5 percentage points; the most recent year shows net profit of $8.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$73.0M$78.0M$82.0M$87.0M$86.0M$90.0M$98.0M$99.0M$103.0M$104.0M
Operating Expenses$59.0M$59.0M$62.0M$65.0M$72.0M$73.0M$76.0M$84.0M$86.0M$93.0M
Operating Profit$14.0M$19.0M$20.0M$22.0M$14.0M$17.0M$22.0M$15.0M$17.0M$12.0M
Operating Margin19.6%24.5%24.1%25.4%15.9%19.0%22.6%15.0%16.1%11.1%
Other Income$0$0$0$0$0$1.0M$1.0M$1.0M$3.0M$2.0M
Interest$0$0$0$0$0$0$0$0$0$0
Depreciation$3.0M$4.0M$4.0M$4.0M$4.0M$4.0M$5.0M$9.0M$5.0M$5.0M
Profit Before Tax$15.0M$19.0M$20.0M$23.0M$14.0M$18.0M$23.0M$16.0M$19.0M$14.0M
Tax$-29.6M$-22.6M$-28.7M$8.9M$17.3M$22.6M$24.3M$23.1M$26.8M$22.6M
Net Profit$16.0M$20.0M$21.0M$15.0M$8.0M$10.0M$12.0M$9.0M$11.0M$8.0M
EPS$2.38$2.92$3.31$3.11$1.75$1.45$1.75$1.32$1.53$1.23
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$26.0M$26.0M$25.0M$26.0M$26.0M$25.0M$25.0M$27.0M$27.0M$26.0M$26.0M$26.0M
Operating Expenses$23.0M$19.0M$21.0M$22.0M$25.0M$20.0M$23.0M$24.0M$26.0M$23.0M$23.0M$24.0M
Operating Profit$2.0M$7.0M$5.0M$4.0M$1.0M$5.0M$2.0M$4.0M$1.0M$3.0M$3.0M$2.0M
Operating Margin9.6%25.4%19.2%14.6%5.1%18.4%9.8%13.5%3.3%12.3%11.7%9.2%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$3.0M$7.0M$6.0M$4.0M$2.0M$5.0M$3.0M$4.0M$1.0M$4.0M$3.0M$3.0M
Tax$25.4M$23.8M$22.8M$42.7M$14.8M$23.8M$25.7M$24.4M$6.2M$27.5M$26.2M$17.4M
Net Profit$1.0M$4.0M$4.0M$2.0M$1.0M$3.0M$2.0M$3.0M$1.0M$2.0M$2.0M$2.0M
EPS$0.16$0.59$0.54$0.28$0.11$0.46$0.29$0.38$0.11$0.34$0.31$0.24

Over the 10 years reported for FONAR Corporation, borrowings increased from $5.0M in 2016 to $39.0M in 2025, cash stood at $56.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 8.53 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$85.0M$99.0M$118.0M$134.0M$180.0M$190.0M$199.0M$201.0M$214.0M$217.0M
Current Assets$46.0M$53.0M$67.0M$85.0M$96.0M$109.0M$119.0M$126.0M$140.0M$145.0M
Cash$9.0M$10.0M$20.0M$14.0M$37.0M$44.0M$49.0M$51.0M$56.0M$56.0M
Inventory$2.0M$2.0M$1.0M$2.0M$2.0M$2.0M$2.0M$3.0M$3.0M$3.0M
Receivables$34.0M$40.0M$45.0M$53.0M$56.0M$61.0M$66.0M$70.0M$80.0M$83.0M
Fixed Assets$15.0M$16.0M$16.0M$17.0M$54.0M$53.0M$57.0M$56.0M$58.0M$54.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$1.0M$16.0M$3.0M$0$2.0M$1.0M$0$0
Other Assets$3.0M$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M
Total Liabilities$24.0M$16.0M$16.0M$15.0M$54.0M$54.0M$53.0M$50.0M$57.0M$57.0M
Current Liabilities$21.0M$14.0M$15.0M$14.0M$19.0M$20.0M$17.0M$16.0M$18.0M$17.0M
Borrowings$5.0M$1.0M$0$0$39.0M$35.0M$38.0M$37.0M$42.0M$39.0M
Other Liabilities$20.0M$15.0M$16.0M$15.0M$15.0M$19.0M$15.0M$13.0M$16.0M$18.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$52.0M$77.0M$99.0M$116.0M$126.0M$138.0M$150.0M$158.0M$166.0M$173.0M

For FONAR Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $7.0M; free cash flow was positive in 10 of 10 years; financing activities used $7.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$17.0M$17.0M$19.0M$19.0M$20.0M$19.0M$15.0M$14.0M$14.0M$11.0M
Investing Cash Flow$-6.0M$-7.0M$-6.0M$-37.0M$0$-10.0M$-10.0M$-9.0M$-2.0M$-8.0M
Financing Cash Flow$-9.0M$-7.0M$-6.0M$-7.0M$-6.0M$-7.0M$-6.0M$-8.0M$-8.0M$-7.0M
Net Cash Flow$-1.0M$2.0M$9.0M$-6.0M$23.0M$8.0M$4.0M$3.0M$5.0M$0
Free Cash Flow$16.0M$14.0M$16.0M$16.0M$13.0M$14.0M$11.0M$10.0M$13.0M$7.0M

Valuation & Return Ratios

MetricValue
PEG Ratio—
EV / EBITDA5.85
FCF Yield3.87%
Quick Ratio9.00
Interest Coverage—
Return 1Y—
Return 3Y—
Return 5Y—

FONAR Corporation (FONR) financials — frequently asked questions

What is FONAR Corporation's annual revenue?

FONAR Corporation (FONR) reported annual revenue of $104.0M in its most recent fiscal year.

What is FONAR Corporation's net profit?

FONAR Corporation (FONR) reported net profit of $8.0M in its most recent fiscal year.

What is FONR EV/EBITDA?

FONAR Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 5.85.

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