NASDAQ · Financial Statements

Midwest Holding Inc. (MDWT) Financial Statements

$26.99 NASDAQ: MDWT Market Cap $101.05M

Midwest Holding Inc. most recently reported annual revenue of $30.0M, net profit of $1.0M. Revenue grew at an average annual rate of 43.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Midwest Holding Inc.: Revenue rose from $5.0M in 2013 to $30.0M in 2022, a change of +500.0% over 9 years; net profit was positive in 1 of 10 reported years; operating margin moved from -43.4% to 49.0%, a shift of +92.5 percentage points; the most recent year shows net profit of $1.0M.

Income Statement — 10 Years (USD millions)

Metric2013201420152016201720182019202020212022
Revenue$5.0M$5.0M$4.0M$5.0M$5.0M$1.0M$3.0M$11.0M$30.0M$30.0M
Operating Expenses$7.0M$9.0M$7.0M$10.0M$7.0M$6.0M$12.0M$23.0M$46.0M$15.0M
Operating Profit$-2.0M$-4.0M$-3.0M$-5.0M$-2.0M$-5.0M$-8.0M$-13.0M$-16.0M$15.0M
Operating Margin-43.4%-84.2%-90.4%-114.1%-43.4%-572.9%-247.8%-121.7%-53.6%49.0%
Other Income$0$0$1.0M$0$1.0M$0$0$16.55T$0$-6.0M
Interest$0$0$1.0M$1.0M$1.0M$0$0$0$0$6.0M
Depreciation$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$-2.0M$-4.0M$-3.0M$-4.0M$-3.0M$-5.0M$-5.0M$-11.0M$-12.0M$8.0M
Tax$-11.1M$-7.6M$-28.0M$-23.0M$-48.5M$-950,000$-4.4M$-14.6M$-40.1M$90.6M
Net Profit$-2.0M$-3.0M$-3.0M$-4.0M$-3.0M$-5.0M$-6.0M$-12.0M$-17.0M$1.0M
EPS$-73.92$-130.56$-89.41$-88.97$-59.48$-2.55$-4.87$-4.81$-4.45$0.21
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.

MetricDec '20Mar '21Jun '21Sep '21Dec '21Mar '22Jun '22Sep '22Dec '22Mar '23Jun '23Sep '23
Revenue$-1.0M$-1.0M$9.0M$6.0M$16.0M$3.0M$0$19.0M$9.0M$38.0M$29.0M$16.0M
Operating Expenses$12.44T$1.60T$13.0M$9.0M$20.0M$-2.0M$-7.0M$10.0M$15.0M$20.0M$11.0M$6.0M
Operating Profit$-12.44T$-1.60T$-4.0M$-3.0M$-4.0M$5.0M$7.0M$9.0M$-6.0M$18.0M$18.0M$11.0M
Operating Margin1495250915.9%260758817.2%-47.7%-59.2%-25.3%190.1%-5853.3%45.7%-69.7%47.6%61.1%65.7%
Interest$0$0$0$0$0$0$6.0M$4.0M$4.0M$10.0M$0$0
Profit Before Tax$-12.0M$0$-4.0M$-3.0M$-4.0M$6.0M$1.0M$5.0M$-3.0M$9.0M$3.0M$7.0M
Tax$4.5M$-852.0M$-17.6M$10.3M$-72.7M$79.9M$-167.3M$26.6M$-107.5M$33.5M$117.0M$-61.9M
Net Profit$-12.0M$-2.0M$-5.0M$-3.0M$-7.0M$1.0M$3.0M$3.0M$-7.0M$6.0M$-4.0M$12.0M
EPS$-4.31$-0.43$-1.34$-0.82$-1.85$0.32$0.91$0.91$-1.95$1.52$-1.00$3.12

Over the 10 years reported for Midwest Holding Inc., borrowings increased from $1.0M in 2013 to $25.0M in 2022, cash stood at $191.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 72.24 times.

Balance Sheet — 10 Years (USD millions)

Metric2013201420152016201720182019202020212022
Total Assets$62.0M$60.0M$63.0M$47.0M$49.0M$66.0M$220.0M$726.0M$1.2B$1.9B
Current Assets$0$1.0M$0$0$1.0M$44.0M$192.0M$567.0M$890.0M$1.8B
Cash$3.0M$2.0M$1.0M$1.0M$1.0M$3.0M$44.0M$152.0M$142.0M$191.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$0$24.0M$31.0M$38.0M$65.0M$31.0M
Fixed Assets$0$0$0$0$0$0$1.0M$0$3.0M$2.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$20.0M$20.0M$23.0M$55.0M$42.0M$35.0M$235.0M$758.0M$1.4B$2.5B
Other Assets$1.0M$1.0M$1.0M$0$0$0$0$-700.0B$0$0
Total Liabilities$51.0M$52.0M$56.0M$43.0M$47.0M$23.0M$8.0M$19.0M$31.0M$1.9B
Current Liabilities$0$0$0$0$0$0$0$0$0$25.0M
Borrowings$1.0M$1.0M$1.0M$1.0M$1.0M$19.0M$1.0M$0$2.0M$25.0M
Other Liabilities$51.0M$52.0M$55.0M$42.0M$46.0M$4.0M$8.0M$18.0M$29.0M$1.9B
Equity$0$0$0$0$0$0$1.0M$0$0$0
Reserves$7.0M$8.0M$7.0M$4.0M$2.0M$-4.0M$14.0M$86.0M$71.0M$24.0M

For Midwest Holding Inc., operating cash flow was positive in 2 of 10 reported years; free cash flow in the latest year was $71.0M; free cash flow was positive in 1 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2013201420152016201720182019202020212022
Operating Cash Flow$1.0M$-2.0M$-1.0M$-1.0M$-9.0M$-20.0M$-2.0M$-16.0M$-25.0M$73.0M
Investing Cash Flow$-4.0M$-1.0M$-2.0M$-1.0M$7.0M$2.0M$-118.0M$-368.0M$-453.0M$-711.0M
Financing Cash Flow$2.0M$3.0M$2.0M$1.0M$1.0M$20.0M$161.0M$492.0M$468.0M$684.0M
Net Cash Flow$-1.0M$-1.0M$-1.0M$-1.0M$0$2.0M$41.0M$108.0M$-10.0M$49.0M
Free Cash Flow$0$-2.0M$-1.0M$-1.0M$-9.0M$-20.0M$-3.0M$-16.0M$-26.0M$71.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.12
EV / EBITDA-3.12
FCF Yield70.59%
Quick Ratio72.25
Interest Coverage2.32
Return 1Y—
Return 3Y—
Return 5Y—

Midwest Holding Inc. (MDWT) financials — frequently asked questions

What is Midwest Holding Inc.'s annual revenue?

Midwest Holding Inc. (MDWT) reported annual revenue of $30.0M in its most recent fiscal year.

What is Midwest Holding Inc.'s net profit?

Midwest Holding Inc. (MDWT) reported net profit of $1.0M in its most recent fiscal year.

What is MDWT EV/EBITDA?

Midwest Holding Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -3.12. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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