Saturday 17 October 2026 Export MLSS’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 22.3%, EPS grew 50.0%, free cash flow grew 66.7% and total debt fell 43.0%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

0.33 0.00 0.00%

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Market cap: $29.6M
P/E: 0.0×
Fwd P/E: −10.4×
Dividend yield: —
F-score: 2/9
Altman Z: −22.07
Beneish M: −3.99
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 18.32%

Capital & Financial Ratios $m

Market Cap 29.61

Revenue 9.42

Net Income (4.14)

Free Cash Flow (0.66)

Net Debt (1.59)

Current Ratio 1.85

Debt/Equity 0.14

P/E ratio 0.00

Fwd P/E (10.40)

P/S ratio 3.26

P/B ratio 8.85

Past 5Y EPS Growth —

This Y EPS Growth 42.86%

Next Y EPS Growth 12.50%

Next Y revenue growth 11.14%

Next 5Y EPS Growth 34.14%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 20.35%

10-year low 10-year high

P/B against its own 10 years 63.23%

10-year low 10-year high

EV/Sales against its own 10 years 20.35%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2017	Powerpack

special payouts not included in total or ratios

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%)

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.15	0.91	0.26	0.29	0.85	1.47	0.41	0.46	0.52	0.23	Analyst estimates 2026–2028 Powerpack
	High	3.20	1.80	1.25	1.68	3.05	4.85	2.20	1.35	1.10	1.39
People
People	Employees	17	14	16	16	19	26	20	17	17	15
	Revenue/emp, $m	0.62	0.81	0.60	0.52	0.29	0.40	0.44	0.58	0.51	0.60
Income, $m
Income, $m	Revenue	10	11	10	8	5	10	9	10	9	9
	Gross margin, %	60.17	61.78	46.05	68.28	66.60	61.25	55.65	69.12	74.56	71.40
	EBT	(7)	(5)	(8)	(8)	(7)	(7)	(9)	(7)	(5)	(6)
	EBT margin, %	(62.18)	(46.36)	(83.13)	(91.27)	(137.41)	(69.08)	(99.63)	(71.04)	(54.62)	(63.76)
	Net income	(7)	(5)	(8)	(8)	(7)	(7)	(9)	(7)	(5)	(6)
	Depreciation	0	1	1	0	0	0	0	0	0	0
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
	Earnings	(0.22)	(0.16)	(0.21)	(0.16)	(0.12)	(0.10)	(0.12)	(0.10)	(0.06)	(0.07)
	Cash flow	(0.20)	(0.04)	(0.05)	(0.04)	(0.11)	(0.06)	(0.09)	(0.07)	(0.04)	(0.04)
	Capex	0.00	(0.01)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	(0.20)	(0.04)	(0.05)	(0.04)	(0.11)	(0.06)	(0.09)	(0.07)	(0.04)	(0.04)
	Book value	0.32	0.23	0.04	0.04	0.26	0.24	0.14	0.11	0.07	0.03
	Shares, m	27	33	35	46	63	69	71	73	80	82
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	3.34	3.22	1.21	7.59	24.59	13.76	3.93	4.89	8.88	2.47
	P/B	4.11	4.84	7.62	39.04	8.30	8.74	3.46	5.99	13.13	7.88
	EV/Sales	3.00	2.98	1.13	7.41	21.98	12.33	2.94	4.28	8.50	2.44
	EV/FCF	(5.79)	(23.56)	(5.94)	(31.24)	(16.59)	(29.92)	(4.15)	(7.61)	(23.44)	(6.99)
Cash, $m
Cash, $m	Operating cash flow	(5)	(1)	(2)	(2)	(7)	(4)	(6)	(5)	(3)	(3)
	Capex	0	0	0	0	0	0	0	0	0	0
	Free cash flow	(5)	(1)	(2)	(2)	(7)	(4)	(6)	(5)	(3)	(3)
Balance, $m
Balance, $m	Working capital	8	5	1	1	16	16	10	8	6	3
	Total debt	—	—	—	0	0	0	0	0	0	1
	Net debt	(4)	(3)	(1)	(2)	(14)	(15)	(9)	(6)	(3)	0
	Shareholders’ equity	9	8	2	2	16	16	10	8	6	3
Returns, %
Returns, %	ROA	(44.06)	(34.80)	(67.47)	(116.14)	(56.16)	(34.63)	(51.96)	(55.27)	(44.53)	(65.01)
	ROIC	(82.51)	(67.26)	(637.05)	(2,225.62)	(243.67)	(313.48)	(423.81)	(215.76)	(160.62)	(140.88)
	ROE	(67.19)	(64.69)	(164.62)	(476.71)	(82.74)	(42.19)	(66.40)	(76.91)	(68.09)	(132.38)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
DXR Daxor Corporation	$59.6M	4.7×	7.6×	−27.62% (below 0%: shrinking)	n/m	−88.56% (below 0%: shrinking)	0.00%	0.00%	Compare
POCI Precision Optics Corp.	$47.7M	— (loss-making)	—	+41.95% (above 0%: growing)	n/m	−45.64% (below 0%: shrinking)	25.34%	(1.21%)	Compare
NEPH Nephros Inc.	$38.1M	23.4×	76.0×	+36.16% (above 0%: growing)	+450.00% (above 0%: growing)	−31.49% (below 0%: shrinking)	66.91%	20.16%	Compare
HBIO Harvard Bioscience, Inc.	$37.8M	— (loss-making)	— (loss-making)	+11.13% (above 0%: growing)	n/m	−123.43% (below 0%: shrinking)	55.57%	(4.30%)	Compare
MLSS Milestone Scientific, Inc.	$29.6M	— (loss-making)	— (loss-making)	+22.27% (above 0%: growing)	n/m	+66.68% (above 0%: growing)	67.24%	(37.37%)
RVP Retractable Technologies, Inc.	$17.6M	— (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.	$16.1M	— (loss-making)	— (loss-making)	+21.36% (above 0%: growing)	n/m	−33.93% (below 0%: shrinking)	52.80%	(88.34%)	Compare
NXGL NexGel, Inc.	$15.9M	— (loss-making)	— (loss-making)	+27.81% (above 0%: growing)	n/m	−432.32% (below 0%: shrinking)	30.09%	(67.96%)	Compare
FEMY Femasys Inc.	$14.5M	— (loss-making)	— (loss-making)	−18.93% (below 0%: shrinking)	n/m	+11.29% (above 0%: growing)	57.08%	(1,526.79%)	Compare
Median of peers	$27.7M	—	11.1×	+16.25%	—	−39.78%	41.45%	(36.13%)

All 55 Medical Instruments & Supplies stocks →

Milestone Scientific, Inc. (MLSS) key facts

Strength: Milestone Scientific, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.0 million, up 3.99% from fiscal 2024.
Milestone Scientific, Inc. (MLSS) is a Medical Instruments & Supplies company in the Healthcare sector, listed on NYSE American.
As of October 16, 2026, MLSS traded at $0.33, a market capitalization of $29.6 million.
Return on equity was −132.4% and debt-to-equity 0.14.
Its Piotroski F-score is 2 out of 9 and its Altman Z-score is −22.07 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.