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Milestone Scientific, Inc.

MLSS Healthcare Medical Instruments & Supplies

Milestone Scientific, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.0 million, up 3.99% from fiscal 2024.

Revenue
+22.3%
EPS
+50.0%
Free cash flow
+66.7%
Total debt
−43.0%

Quarter to June 2026, against a year earlier

0.30 0.03 −9.09%
Market cap
$27.1M
P/E
0.0×
Fwd P/E
−7.6×
Dividend yield
—
F-score
2/9
Altman Z
−22.04
Beneish M
−3.99
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 18.32%

Capital & Financial Ratios $m

Size
Market Cap 27.11
Revenue ttm 9.42
Net income ttm (4.14)
Free cash flow ttm (0.66)
Net debt Q (1.59)
Valuation
P/E 0.00
Forward P/E (7.62) (negative: loss-making)
Price / sales 2.97
Forward P/S Powerpack
Price / FCF 0.00
Price / book 8.05 (above 6: high)
Financial health
Current ratio Q 1.85 (at or above 1.5: strong)
Debt / equity Q 0.14 (at or below 0.5: strong)
Interest coverage Q (58.18)
Growth
Revenue growth Q +22.27% (above 0%: growing)
Operating income growth Q +28.49% (above 0%: growing)
EPS, this year +42.86% (at or above 15%: strong)
EPS, next year A +12.50%
Revenue, next year A +11.14% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +34.14% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.8×, against a ten-year median of 4.8×; over the ten years it ranged from 1.1× in 2018 to 42.9× in 2021.
P/S against its own 10 years 16.17%
10-year low 10-year high
P/B against its own 10 years 55.39%
10-year low 10-year high
EV/Sales against its own 10 years 15.73%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6 3 1 2
Receivables 0 0 1 1
Inventory 3 4 4 3
Other 1 1 1 1
11 9 7 8
2023 2024 2025 Q'26
Payables 1 2 3 3
ST’ Debt — — — —
Other — — — 0
3 4 4 4

Compound Annual Growth %

10y 5y 3y
Sales (0.56%) 10.54% 0.63%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (11.14%) (29.46%) (34.49%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY21 Estimate −0.02 Actual −0.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY20 −0.02 −0.01 Beat by 0.01
Q1 FY21 −0.03 −0.01 Beat by 0.02
Q2 FY21 −0.02 −0.04 Miss by 0.02
Q3 FY21 −0.02 −0.03 Miss by 0.01

EPS $

Mar Jun Sep Dec Year
’26 (0.01) (0.01) — — —
’25 (0.02) (0.02) (0.01) (0.01) (0.07)
’24 (0.02) 0.00 (0.02) (0.03) (0.06)
’23 (0.02) (0.03) (0.02) (0.03) (0.10)
’22 (0.03) (0.04) (0.03) (0.03) (0.12)
’21 (0.01) (0.04) (0.03) (0.02) (0.10)
’20 (0.03) (0.06) (0.02) (0.01) (0.12)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2 3 — — —
’25 2 2 2 2 9
’24 2 2 3 2 9
’23 3 3 2 2 10
’22 3 2 2 2 9
’21 3 2 2 3 10
’20 2 0 1 2 5
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 0 (1) — — —
’25 (1) (2) 0 0 (3)
’24 (1) 1 (1) (2) (3)
’23 (2) (1) (1) (1) (5)
’22 (2) (2) (1) (1) (6)
’21 (1) (1) (2) 0 (4)
’20 (1) (3) (2) (1) (7)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 0 (1) — — —
’25 (1) (2) 0 0 (3)
’24 (1) 1 (1) (2) (3)
’23 (2) (1) (1) (1) (5)
’22 (2) (2) (1) (1) (6)
’21 (1) (1) (2) 0 (4)
’20 (1) (3) (2) (1) (7)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 10 11 10 8 5 10 9 10 9 9 9 (1.7%) 10 11 14 +16.1%
Gross margin, % 60.17 61.78 46.05 68.28 66.60 61.25 55.65 69.12 74.56 71.40 70.23 +11.2 pt
EBT (7) (5) (8) (8) (7) (7) (9) (7) (5) (6) (4) (1.4%)
EBT margin, % (62.18) (46.36) (83.13) (91.27) (137.41) (69.08) (99.63) (71.04) (54.62) (63.76) (43.98) (1.6) pt
Net income (7) (5) (8) (8) (7) (7) (9) (7) (5) (6) (4) (2.7%)
Per share, $
Per share, $ Revenue 0.39 0.35 0.27 0.18 0.09 0.15 0.12 0.14 0.11 0.11 0.10 (13.1%)
Earnings (0.22) (0.16) (0.21) (0.16) (0.12) (0.10) (0.12) (0.10) (0.06) (0.07) (0.04) (11.9%)
Cash flow (0.20) (0.04) (0.05) (0.04) (0.11) (0.06) (0.09) (0.07) (0.04) (0.04) (0.01) (17.5%)
Capex 0.00 (0.01) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (17.3%)
Free cash flow (0.20) (0.04) (0.05) (0.04) (0.11) (0.06) (0.09) (0.07) (0.04) (0.04) (0.01) (17.5%)
Book value 0.32 0.23 0.04 0.04 0.26 0.24 0.14 0.11 0.07 0.03 0.04 (21.9%)
Shares, m 27 33 35 46 63 69 71 73 80 82 86 +13.2%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 3.34 3.22 1.21 7.59 24.59 13.76 3.93 4.89 8.88 2.47 2.97 7.4
P/B 4.11 4.84 7.62 39.04 8.30 8.74 3.46 5.99 13.13 7.88 8.05 10.3
EV/Sales 3.00 2.98 1.13 7.41 21.98 12.33 2.94 4.28 8.50 2.44 2.80 6.7
EV/FCF (5.79) (23.56) (5.94) (31.24) (16.59) (29.92) (4.15) (7.61) (23.44) (6.99) (30.81) (15.5)
Cash, $m
Cash, $m Operating cash flow (5) (1) (2) (2) (7) (4) (6) (5) (3) (3) (1) (6.6%)
Capex 0 0 0 0 0 0 0 0 0 0 0 (7.6%)
Free cash flow (5) (1) (2) (2) (7) (4) (6) (5) (3) (3) (1) (6.6%)
Balance, $m
Balance, $m Working capital 8 5 1 1 16 16 10 8 6 3 4 (8.8%)
Net debt (4) (3) (1) (2) (14) (15) (9) (6) (3) 0 (2) (24.6%)
Shareholders’ equity 9 8 2 2 16 16 10 8 6 3 3 (11.6%)
Returns, %
Returns, % ROA (44.06) (34.80) (67.47) (116.14) (56.16) (34.63) (51.96) (55.27) (44.53) (65.01) (50.54) (21.0) pt
ROIC (82.51) (67.26) (637.05) (2,225.62) (243.67) (313.48) (423.81) (215.76) (160.62) (140.88) (136.16) (58.4) pt
ROE (67.19) (64.69) (164.62) (476.71) (82.74) (42.19) (66.40) (76.91) (68.09) (132.38) (121.68) (65.2) pt
People
People Employees 17 14 16 16 19 26 20 17 17 15 — (1.4%)
Revenue/emp, $m 0.62 0.81 0.60 0.52 0.29 0.40 0.44 0.58 0.51 0.60 — (0.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Milestone Scientific, Inc. vs peers in Medical Instruments & Supplies (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ZTEKF Zentek Ltd. $62.3M — (loss-making) — −95.36% (below 0%: shrinking) n/m −254.61% (below 0%: shrinking) 0.00% 0.00% Compare
POCI Precision Optics Corp. $54.3M — (loss-making) — (loss-making) +41.95% (above 0%: growing) n/m −45.64% (below 0%: shrinking) 25.34% (1.21%) Compare
DXR Daxor Corporation $50.4M 4.0× 7.6× −27.62% (below 0%: shrinking) n/m −88.56% (below 0%: shrinking) 0.00% 0.00% Compare
HBIO Harvard Bioscience, Inc. $38.5M — (loss-making) — (loss-making) +11.13% (above 0%: growing) n/m −123.43% (below 0%: shrinking) 55.57% (4.30%) Compare
NEPH Nephros Inc. $33.6M 18.0× 20.2× +18.01% (above 0%: growing) +66.67% (above 0%: growing) −251.52% (below 0%: shrinking) 58.45% 8.91% Compare
DAVI Davion Healthcare PLC $32.8M — — — — — — — Compare
MLSS Milestone Scientific, Inc. $27.1M — (loss-making) — (loss-making) +22.27% (above 0%: growing) n/m +66.68% (above 0%: growing) 67.24% (37.37%)
RVP Retractable Technologies, Inc. $16.9M — (loss-making) 11.1× −31.07% (below 0%: shrinking) n/m +56.67% (above 0%: growing) 2.65% (71.46%) Compare
BNGO Bionano Genomics, Inc. $15.4M — (loss-making) — (loss-making) +21.36% (above 0%: growing) n/m −33.93% (below 0%: shrinking) 52.80% (88.34%) Compare
Median of peers $36.1M — 11.1× +11.13% — −88.56% 25.34% (1.21%)

All 53 Medical Instruments & Supplies stocks →

Pay and ownership Proxy statement filed 22 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 795.02k 77.02k 28.72
2024 881.42k 881.42k 137.14
2023 680.27k 680.27k 150.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Milestone Scientific, Inc. (MLSS) Latest News

29 Oct

Impact 4 · · GlobeNewswire

29 Sep

Impact 4 · · GlobeNewswire

16 Sep

Impact 3 ·

26 Aug

Impact 3 ·

14 Aug

Impact 4 ·
Impact 4 ·
Impact 3 · · Moby transcript
Impact 3 ·

4 Aug

Impact 4 ·

15 Jul

Impact 4 ·

25 Jun

Impact 3 · · GlobeNewswire

27 May

Impact 3 ·

14 May

Impact 4 · · GuruFocus.com
Impact 4 · · GlobeNewswire
Impact 3 · · Moby

7 May

Impact 4 · · GlobeNewswire

21 Apr

Impact 4 ·

1 Apr

Impact 4 · · GuruFocus.com
Impact 4 · · Moby

31 Mar

Impact 3 · · GlobeNewswire

23 Feb

Impact 4 · · GlobeNewswire

6 Jan

Impact 4 · · GlobeNewswireSimply Wall St.MT NewswiresMT NewswiresMT NewswiresHospital Management

14 Nov

Impact 3 · · GuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.com

13 Nov

Impact 3 · · GlobeNewswire
Impact 3 · · GlobeNewswire

14 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswireMT NewswiresTipRanksMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT Newswires

22 Sep

Impact 4 ·

16 Aug

Impact 4 · · GuruFocus.com

6 Aug

Impact 3 · · GlobeNewswire
stockrow.com/MLSS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com