It's unclear which companies you mean to include in your comment about "MF firms" but Team Phase One's financials are doing very well. Sales have been up every year since the financial crash. This is reflected in the very heavy investment over the last several years resulting in (so far) an entirely new line of digital backs, the IQ (and a meaningful update to that new line, IQ2), the release of a big update to Capture One and several new lenses.
I have no info on other MF companies.
Doug,
Well, when I speak of the "MF firms" I was speaking historically. We do seem to agree that Phase are doing well since Leaf got bought by Phase, and Sinar backs disappeared, thereby just about halving the number of the independent parties; Ah yes, then there was the Mamiya camera and back, but Mamiya alas was also taken over by ... Phase. I think this is what economists call consolidation. As the lady who came back from the ride might have tastefully said, "I appreciate being given a chance to contribute to the survival of an endangered species".
By the way, since you are in the know, what is the exact status of the involvement of Phase with Microsoft? An what about the rumors that Phase itself is now being viewed for a possible ecological contribution by a large company?
There was a young lady from Niger,
Who went for a ride on a tiger
They came from the ride
With the lady inside
And a smile on the face of the Tiger.
Edmund