XAI Madison Equity Premium Income Fund (MCN)
The XAI Madison Equity Premium Income Fund operates as a closed-end investment vehicle. Its core mission is to generate significant current income and immediate profits, with a complementary objective of achieving long-term capital appreciation. This fund was established on May 6, 2004, and maintains its principal office in Madison, Wisconsin.
Industry: Asset Management
XAI Madison Equity Premium Income Fund
NYSE:MCNFinancial Services · Asset Management
+0.19%$5.34
AH Close$5.34+0.00%vs close
AH Close$5.34+0.00%vs close
Mkt Cap$112.11M
Float20.99M
O/S20.99M
Inst Own24.9%
SI0.1%
Div Yield13.48%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$13.07M
Net Income$12.04M
Total Assets$140.47M
Free Cash Flow$0
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$136.74M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MCN's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$140.47M
Liabilities$3.73M
Accounts Receivable$187K
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $13.07M | $4.31M | $11.41M | $7.26M | $23.05M | $10.01M | $24.78M | -$15.34M | $11.69M | $2.35M | $2.56M | $1.61M | $1.85M | $2.11M |
| YoY Growth | 203.0% | -62.2% | 57.2% | -68.5% | 130.3% | -59.6% | -261.5% | -231.2% | 397.7% | -8.3% | 58.9% | -12.9% | -12.1% | - |
| Cost of Revenue | $1.47M | $0 | $1.64M | $0 | $0 | $1.51M | $1.6M | $1.72M | $1.71M | $1.73M | $1.85M | $1.93M | $0 | $0 |
| Gross Profit | $11.6M | $4.31M | $15.73M | $7.26M | $23.05M | $2.36M | $23.18M | -$17.06M | $9.98M | $619K | $713K | -$318K | $1.85M | $2.11M |
| Gross Margin | 88.8% | 100.0% | 137.9% | 100.0% | 100.0% | 23.6% | 93.5% | 111.2% | 85.4% | 26.3% | 27.8% | -19.7% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $1.59M | $430K | $426K | $453K | $381K | $402K | $596K | $528K | $1.73M | $1.85M | $1.93M | $1.86M | $2.35M |
| Other | -$432K | $0 | $14K | $23K | $20K | $1.13M | $21K | $12K | $0 | $0 | $10K | $10K | $0 | $0 |
| Total Operating Expenses | -$432K | $1.59M | $444K | $449K | $473K | $1.51M | $423K | $608K | $528K | $10.25M | $4.1M | $9.71M | $27.05M | $11.31M |
| Operating Income (EBIT) | $12.04M | $2.73M | $15.29M | $6.81M | $22.57M | $852K | $24.36M | -$15.95M | $1.82M | $623K | $716K | -$315K | -$13K | -$246K |
| Operating Margin | 92.1% | 63.2% | 134.0% | 93.8% | 97.9% | 8.5% | 98.3% | 104.0% | 15.6% | 26.5% | 27.9% | -19.5% | -0.7% | -11.7% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11.97M | $0 | $11.63M | $0 | $0 |
| Interest Income | $3.59M | $0 | $1.71M | $382K | $14K | $114K | $361K | $425K | $172K | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $0 | $2.56M | $0 | $0 | $0 | $8.74M | $0 | $0 | -$109K | $11.97M | -$2.26M | $11.63M | $28.92M | $13.66M |
| Income Before Tax (EBT) | $12.04M | $5.29M | $15.29M | $6.81M | $22.57M | $9.59M | $24.36M | -$15.95M | $11.16M | $12.59M | -$1.54M | $11.32M | $28.9M | $13.41M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$18.69M | $0 | $0 | $0 | $0 | $0 |
| Net Income | $12.04M | $5.29M | $15.29M | $6.81M | $22.57M | $9.59M | $24.36M | -$15.95M | $11.16M | $12.59M | -$1.54M | $11.32M | $28.9M | $13.41M |
| Net Income Margin | 92.1% | 122.6% | 134.0% | 93.8% | 97.9% | 95.9% | 98.3% | 104.0% | 95.5% | 536.2% | -60.1% | 701.9% | 1561.0% | 637.0% |
| Supplementary Data | ||||||||||||||
| EPS | 0.57 | 0.25 | 0.73 | 0.32 | 1.08 | 0.46 | 1.16 | -0.64 | 0.58 | 0.65 | -0.08 | 0.59 | 1.50 | 0.70 |
| Diluted EPS | 0.57 | 0.25 | 0.73 | 0.32 | 1.08 | 0.46 | 1.16 | -0.64 | 0.58 | 0.65 | -0.08 | 0.59 | 1.50 | 0.70 |
| Weighted Average OS | 21.12M | 21.12M | 21.06M | 21.02M | 20.98M | 20.95M | 20.95M | 24.92M | 19.25M | 19.27M | 19.27M | 19.27M | 19.27M | 19.27M |
| EBITDA | $12.04M | $2.73M | $15.29M | $6.81M | $22.57M | $9.59M | $24.37M | -$15.77M | $11.27M | $24.56M | -$3.8M | $23.26M | $13K | $246K |
| EBITDA Margin | 92.1% | 63.2% | 134.0% | 93.8% | 97.9% | 95.9% | 98.3% | 102.8% | 96.4% | 1045.8% | -148.3% | 1442.7% | 0.7% | 11.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $13.49M | $0 | -$38.49M | -$31.6M | -$32.59M | -$28.03M | -$22.04M | -$7.05M | -$2.87M | $0 | $0 | $0 | $0 | $1.76M |
| Short-Term Investments | $0 | $0 | $38.49M | $31.6M | $32.59M | $28.03M | $22.04M | $7.05M | $2.87M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $13.49M | $0 | $38.49M | $31.6M | $32.59M | $28.03M | $22.04M | $7.05M | $2.87M | $0 | $0 | $0 | $0 | $1.76M |
| Accounts Receivable | $187K | $96K | $77K | $231K | $83K | $112K | $393K | $183K | $83K | $3.47M | $1.8M | $2.66M | $63K | $172K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $91K | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | -$31.6M | -$32.59M | -$28.03M | -$22.04M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $13.68M | $96K | $38.57M | $231K | $83K | $112K | $393K | $183K | $83K | $3.47M | $1.8M | $2.66M | $63K | $1.93M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $126.8M | $141.2M | $155.98M | $149.92M | $159.47M | $154.32M | $167.58M | $146.38M | $167.12M | $156.09M | $149.21M | $173.96M | $180.53M | $164.04M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$146.38M | -$167.12M | $9.99M | $15M | $10M | $10M | -$164.04M |
| Total Long-Term Assets | $126.8M | $141.2M | $155.98M | $149.92M | $159.47M | $154.32M | $167.58M | $146.38M | $167.12M | $166.08M | $164.21M | $183.96M | $190.53M | $164.04M |
| Other Assets | $0 | $0 | -$142.16M | $0 | $0 | $0 | $140K | $0 | $8K | $0 | $0 | $0 | $0 | $8.73M |
| Total Assets | $140.47M | $141.29M | $156.06M | $150.15M | $159.55M | $154.43M | $168.11M | $146.56M | $167.21M | $169.54M | $166.01M | $186.62M | $190.6M | $174.7M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $0 | $0 | $3.92M | $118K | $0 | $1.56M | $9.19M | $46K | $144K | $1.66M | $0 | $0 | $0 | $1.79M |
| Short-Term Debt | $0 | $0 | $0 | $118K | $54K | $80K | $99K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $2.1M | -$99K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $1.39M | $2.04M | $3.24M | -$252K | $2.89M | -$1.56M | -$26K | -$183K | -$144K | $5.79M | $2.64M | $7.84M | $9.26M | $6.6M |
| Total Current Liabilities | $0 | $2.18M | $7.43M | $118K | $3.28M | $2.18M | $9.4M | $46K | $244K | $7.45M | $2.64M | $7.84M | $9.26M | $8.39M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $3.73M | $0 | $0 | $0 | $54K | $80K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $3.73M | $2.04M | $7.43M | $118K | $54K | $80K | $13.9M | $46K | $7.84M | $7.3M | $2.5M | $7.7M | $0 | $0 |
| Other Liabilities | $0 | $0 | -$3.92M | $1.76M | -$3.23M | $1.6M | -$9.15M | $1.78M | -$252K | -$7.3M | -$2.5M | -$7.7M | $0 | $0 |
| Total Liabilities | $3.73M | $2.18M | $7.43M | $1.99M | $3.33M | $5.95M | $14.15M | $1.88M | $7.83M | $7.45M | $2.64M | $7.84M | $9.26M | $8.39M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $164.88M | $0 | $0 | $0 | $0 | $0 | $21K | $19K | $19K | $19K | $203.31M | $217.49M | $193K |
| Retained Earnings | -$28.14M | -$25.77M | -$20.19M | -$25.38M | -$17.07M | -$27.09M | -$26.29M | -$40.82M | -$1.7M | -$14.79M | -$26.76M | -$24.53M | -$36.16M | -$65.08M |
| Comprehensive Income & Other | $0 | -$0 | $0 | $0 | $0 | $0 | $0 | $0 | -$8.8M | -$0 | -$0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $164.88M | $0 | $168.82M | $173.54M | $173.29M | $175.56M | $180.25M | $185.49M | $161.06M | $176.86M | $190.11M | $0 | $0 | $231.19M |
| Total Equity | $136.74M | $139.12M | $148.63M | $148.16M | $156.22M | $148.48M | $153.96M | $144.69M | $159.38M | $162.09M | $163.37M | $178.78M | $181.34M | $166.31M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $140.47M | $141.29M | $156.06M | $150.15M | $159.55M | $154.43M | $168.11M | $146.56M | $167.21M | $169.54M | $166.01M | $186.62M | $190.6M | $174.7M |
| Supplementary Data | ||||||||||||||
| Total Debt | $0 | $0 | $0 | $118K | $54K | $80K | $99K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$13.49M | $0 | $38.49M | $31.72M | $32.64M | $28.11M | $22.14M | $7.05M | $2.87M | $0 | $0 | $0 | $0 | -$1.76M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | $12.04M | $5.29M | $15.29M | $6.81M | $22.57M | $9.59M | $24.36M | -$15.95M | $11.16M | $12.59M | -$1.54M | $11.32M | $28.9M | $13.41M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $315K | $13K | $246K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Non-Cash Items | -$12.04M | -$5.29M | -$15.29M | -$6.81M | -$22.57M | -$9.59M | -$24.36M | $15.95M | -$11.16M | -$12.59M | $1.54M | -$11.63M | -$28.92M | -$13.66M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at Beginning | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |