NASDAQ : TMDX
TransMedics Group, Inc. — Financial statements
Healthcare · Medical Devices · United States
Last price 67.12 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.33B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
TransMedics Group, Inc. (TMDX) reported revenue of 668.47M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 668.47M | 605.49M | 441.54M | 241.62M | 93.46M | 30.26M |
| Cost of Revenue | 276.12M | 242.69M | 179.46M | 87.53M | 28.19M | 9.10M |
| Gross Profit | 392.35M | 362.81M | 262.08M | 154.09M | 65.27M | 21.16M |
| Selling, General & Admin | 218.27M | 185.17M | 168.62M | 119.55M | 69.90M | 38.28M |
| Research & Development | 92.47M | 69.06M | 55.97M | 36.05M | 26.81M | 22.30M |
| Operating Expenses | 310.74M | 254.22M | 224.59M | 155.61M | 96.71M | 60.59M |
| Operating Income | 81.61M | 108.58M | 37.50M | -1.51M | -31.44M | -39.43M |
| Interest Expense | -21.24M | -13.78M | -14.41M | -10.79M | -3.73M | -3.87M |
| Interest & Investment Income | 12.30M | 11.40M | 13.40M | |||
| Currency Exchange Gain (Loss) | -2.70M | -1.00M | 700.00K | -1.00M | ||
| Other Non Operating Income (Expenses) | 2.59M | 2.32M | -1.41M | 12.85M | -427.00K | 123.00K |
| EBT Excluding Unusual Items | 72.55M | 107.52M | 35.78M | 541.00K | -35.59M | -44.18M |
| Other Unusual Items | -575.00K | |||||
| Pretax Income | 72.55M | 107.52M | 35.78M | -26.67M | -36.16M | -44.18M |
| Income Tax Expense | -79.14M | -82.77M | 316.00K | -1.64M | 66.00K | 36.00K |
| Net Income | 151.70M | 190.29M | 35.46M | -25.03M | -36.23M | -44.22M |
| Net Income to Common | 151.70M | 190.29M | 35.46M | -25.03M | -36.23M | -44.22M |
| Shares Outstanding (Basic) | 34.33M | 33.99M | 33.23M | 32.52M | 29.56M | 27.62M |
| Shares Outstanding (Diluted) | 38.42M | 40.54M | 35.22M | 32.52M | 29.56M | 27.62M |
| EPS (Basic) | 4.42 | 5.60 | 1.07 | -0.77 | -1.23 | -1.60 |
| EPS (Diluted) | 4.01 | 4.87 | 1.01 | -0.77 | -1.23 | -1.60 |
| Free Cash Flow | 79.04M | 133.59M | -80.94M | -164.88M | -57.72M | -32.38M |
| Free Cash Flow Per Share | 2.06 | 3.29 | -2.30 | -5.07 | -1.95 | -1.17 |
| Gross Margin | 58.69% | 59.92% | 59.36% | 63.77% | 69.84% | 69.92% |
| Operating Margin | 12.21% | 17.93% | 8.49% | -0.63% | -33.64% | -130.29% |
| Profit Margin | 22.69% | 31.43% | 8.03% | -10.36% | -38.77% | -146.11% |
| Free Cash Flow Margin | 11.82% | 22.06% | -18.33% | -68.24% | -61.76% | -107.01% |
| EBITDA | 115.63M | 134.47M | 57.25M | 6.66M | -27.96M | -37.61M |
| EBITDA Margin | 17.30% | 22.21% | 12.97% | 2.76% | -29.92% | -124.28% |
| D&A For EBITDA | 34.02M | 25.89M | 19.76M | 8.18M | 3.48M | 1.82M |
| EBIT | 81.61M | 108.58M | 37.50M | -1.51M | -31.44M | -39.43M |
| EBIT Margin | 12.21% | 17.93% | 8.49% | -0.63% | -33.64% | -130.29% |
| Effective Tax Rate | 0.88% | |||||
| Revenue as Reported | 668.47M | 605.49M | 441.54M | 241.62M | 93.46M | 30.26M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 472.68M | 488.37M | 336.65M | 394.81M | 201.18M | 25.58M |
| Short-Term Investments | 66.87M | |||||
| Cash & Short-Term Investments | 472.68M | 488.37M | 336.65M | 394.81M | 201.18M | 92.45M |
| Receivables | 104.14M | 84.28M | 97.72M | 63.58M | 27.61M | 5.93M |
| Inventory | 58.44M | 48.88M | 46.55M | 44.23M | 20.61M | 14.86M |
| Prepaid Expenses | 15.87M | 16.25M | 16.29M | 8.03M | 2.90M | 5.46M |
| Total Current Assets | 651.12M | 637.78M | 497.22M | 510.65M | 252.29M | 118.70M |
| Property, Plant & Equipment | 702.42M | 332.81M | 292.45M | 180.49M | 24.35M | 15.69M |
| Goodwill | 11.55M | 11.55M | 11.55M | 11.99M | ||
| Other Intangible Assets | 1.95M | 2.15M | 2.35M | |||
| Long-Term Deferred Tax Assets | 78.68M | 83.54M | ||||
| Other Long-Term Assets | 20.63M | 739.00K | 708.00K | 562.00K | 500.00K | 500.00K |
| Total Assets | 1.46B | 1.07B | 804.08M | 706.05M | 277.15M | 134.89M |
| Accounts Payable | 12.91M | 10.35M | 10.29M | 12.72M | 3.34M | 6.65M |
| Accrued Expenses | 58.60M | 62.74M | 45.15M | 38.22M | 18.64M | 16.34M |
| Current Portion of Long-Term Debt | 20.00M | 10.00M | ||||
| Current Portion of Leases | 3.65M | 3.31M | 2.73M | 2.04M | 1.44M | |
| Current Unearned Revenue | 3.13M | 2.90M | 1.74M | 1.96M | 241.00K | 250.00K |
| Total Current Liabilities | 98.28M | 89.31M | 59.91M | 54.93M | 23.66M | 23.24M |
| Long-Term Debt | 494.00M | 502.39M | 509.31M | 506.20M | 58.70M | 35.20M |
| Long-Term Leases | 350.07M | 3.58M | 6.25M | 7.71M | 7.42M | 8.60M |
| Other Long-Term Liabilities | 3.99M | |||||
| Total Liabilities | 946.34M | 595.27M | 575.47M | 568.85M | 89.77M | 67.04M |
| Common Stock | 774.22M | 750.93M | 697.21M | 641.11M | 666.28M | 510.49M |
| Retained Earnings | -255.95M | -277.95M | -468.24M | -503.70M | -478.68M | -442.45M |
| Comprehensive Income & Other | -210.00K | 124.00K | -364.00K | -199.00K | -225.00K | -188.00K |
| Total Common Equity | 518.05M | 473.10M | 228.60M | 137.20M | 187.38M | 67.85M |
| Shareholders' Equity | 518.05M | 473.10M | 228.60M | 137.20M | 187.38M | 67.85M |
| Total Liabilities & Equity | 1.46B | 1.07B | 804.08M | 706.05M | 277.15M | 134.89M |
| Total Debt | 867.72M | 519.28M | 518.29M | 515.95M | 67.56M | 43.80M |
| Net Cash (Debt) | -395.05M | -30.91M | -181.64M | -121.13M | 133.63M | 48.65M |
| Net Cash Per Share | -10.28 | -0.76 | -5.16 | -3.73 | 4.52 | 1.76 |
| Filing Date Shares Outstanding | 34.68M | 34.30M | 33.66M | 32.72M | 32.20M | 27.96M |
| Total Common Shares Outstanding | 34.63M | 34.27M | 33.62M | 32.67M | 32.14M | 27.79M |
| Working Capital | 552.84M | 548.48M | 437.30M | 455.72M | 228.63M | 95.47M |
| Book Value Per Share | 14.96 | 13.81 | 6.80 | 4.20 | 5.83 | 2.44 |
| Tangible Book Value | 506.50M | 459.60M | 214.90M | 122.86M | 187.38M | 67.85M |
| Tangible Book Value Per Share | 14.63 | 13.41 | 6.39 | 3.76 | 5.83 | 2.44 |
| Land | 16.26M | 2.65M | ||||
| Machinery | 358.84M | 351.37M | 297.08M | 175.63M | 19.45M | 12.99M |
| Construction In Progress | 9.76M | 2.17M | 6.66M | 6.25M | 482.00K | 5.27M |
| Leasehold Improvements | 25.83M | 25.11M | 22.95M | 13.35M | 12.41M | 1.32M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 151.70M | 190.29M | 35.46M | -25.03M | -36.23M | -44.22M |
| Depreciation & Amortization | 34.02M | 25.89M | 19.76M | 8.18M | 3.48M | 1.82M |
| Other Amortization | 2.40M | 1.30M | ||||
| Loss (Gain) From Sale of Assets | 80.00K | 17.00K | ||||
| Asset Writedown & Restructuring Costs | 27.21M | |||||
| Loss (Gain) From Sale of Investments | 488.00K | 1.36M | ||||
| Stock-Based Compensation | 37.09M | 36.86M | 33.22M | 19.79M | 10.32M | 6.88M |
| Other Operating Activities | -65.08M | -79.95M | 5.34M | 1.17M | 2.89M | 2.30M |
| Change in Accounts Receivable | 618.00K | 13.95M | -34.31M | -33.82M | -21.68M | 840.00K |
| Change in Inventory | -23.68M | -7.72M | -8.35M | -28.09M | -8.02M | -4.89M |
| Change in Accounts Payable | 3.12M | -19.00K | -1.40M | 6.96M | -3.27M | 5.09M |
| Change in Unearned Revenue | 1.56M | 1.14M | -203.00K | 83.00K | 7.00K | |
| Change in Other Net Operating Assets | 4.18M | 11.02M | -738.00K | 10.52M | 6.21M | 1.96M |
| Operating Cash Flow | 145.93M | 192.84M | 48.80M | -13.03M | -45.82M | -28.86M |
| Capital Expenditures | -66.89M | -59.25M | -129.74M | -151.85M | -11.91M | -3.52M |
| Cash Acquisitions | 441.00K | -14.89M | ||||
| Sale (Purchase) of Intangibles | -27.21M | |||||
| Investment in Securities | 66.42M | 32.79M | ||||
| Investing Cash Flow | -66.89M | -59.25M | -129.30M | -193.95M | 54.51M | 29.27M |
| Long-Term Debt Issued | 460.00M | 58.51M | ||||
| Total Debt Issued | 460.00M | 58.51M | ||||
| Long-Term Debt Repaid | -52.07M | -36.05M | ||||
| Total Debt Repaid | -52.07M | -36.05M | ||||
| Net Debt Issued (Repaid) | 407.93M | 22.46M | ||||
| Issuance of Common Stock | 11.79M | 17.00M | 22.87M | 7.11M | 145.47M | 1.39M |
| Repurchase of Common Stock | -315.00K | -138.00K | ||||
| Other Financing Activities | -14.62M | |||||
| Financing Cash Flow | 11.47M | 16.86M | 22.87M | 400.42M | 167.93M | 1.39M |
| Foreign Exchange Rate Adjustments | -475.00K | 1.27M | -536.00K | 193.00K | -1.02M | -797.00K |
| Net Cash Flow | 90.04M | 151.72M | -58.16M | 193.63M | 175.60M | 999.00K |
| Free Cash Flow | 79.04M | 133.59M | -80.94M | -164.88M | -57.72M | -32.38M |
| Free Cash Flow Margin | 11.82% | 22.06% | -18.33% | -68.24% | -61.76% | -107.01% |
| Free Cash Flow Per Share | 2.06 | 3.29 | -2.30 | -5.07 | -1.95 | -1.17 |
| Levered Free Cash Flow | 44.50M | 94.00M | -102.77M | -192.83M | -45.96M | -15.66M |
| Unlevered Free Cash Flow | 57.77M | 102.62M | -93.76M | -186.09M | -43.64M | -13.24M |
| Cash Interest Paid | 10.70M | 10.70M | 11.30M | 8.09M | 3.26M | 3.33M |
| Change in Working Capital | -14.21M | 18.38M | -45.00M | -44.35M | -26.76M | 3.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.29B | 4.16B | 2.09B | 2.58B | 1.97B | 532.04M |
| Enterprise Value | 2.68B | 4.21B | 2.28B | 2.67B | 1.83B | 464.24M |
| Last Close Price | 65.99 | 121.65 | 62.35 | 78.93 | 61.72 | 19.16 |
| PE Ratio | 16.44 | 21.85 | 59.01 | |||
| Forward PE | 36.57 | 47.40 | 56.70 | |||
| PS Ratio | 3.42 | 6.87 | 4.74 | 10.66 | 21.08 | 17.58 |
| PB Ratio | 4.41 | 8.79 | 9.15 | 18.78 | 10.52 | 7.84 |
| P/TBV Ratio | 4.52 | 9.04 | 9.74 | 20.97 | 10.52 | 7.84 |
| P/FCF Ratio | 28.95 | 31.12 | ||||
| P/OCF Ratio | 15.68 | 21.56 | 42.88 | |||
| PEG Ratio | 0.73 | 0.93 | ||||
| EV/Sales Ratio | 4.01 | 6.95 | 5.17 | 11.03 | 19.62 | 15.34 |
| EV/EBITDA Ratio | 23.21 | 31.31 | 39.83 | 400.09 | ||
| EV/EBIT Ratio | 32.88 | 38.78 | 60.82 | |||
| EV/FCF Ratio | 33.95 | 31.52 | ||||
| Debt / Equity Ratio | 1.68 | 1.10 | 2.27 | 3.76 | 0.36 | 0.65 |
| Debt / EBITDA Ratio | 6.99 | 3.65 | 8.19 | 45.04 | ||
| Debt / FCF Ratio | 10.98 | 3.89 | ||||
| Net Debt / Equity Ratio | 0.76 | 0.07 | 0.80 | 0.88 | -0.71 | -0.72 |
| Net Debt / EBITDA Ratio | 3.42 | 0.23 | 3.17 | 18.18 | 4.78 | 1.29 |
| Net Debt / FCF Ratio | 5.00 | 0.23 | -2.24 | -0.73 | 2.31 | 1.50 |
| Asset Turnover | 0.57 | 0.65 | 0.58 | 0.49 | 0.45 | 0.21 |
| Inventory Turnover | 5.46 | 5.09 | 3.95 | 2.70 | 1.59 | 0.68 |
| Quick Ratio | 5.87 | 6.41 | 7.25 | 8.34 | 9.67 | 4.23 |
| Current Ratio | 6.62 | 7.14 | 8.30 | 9.30 | 10.66 | 5.11 |
| Return on Equity (ROE) | 36.29% | 54.24% | 19.39% | -15.42% | -28.39% | -51.49% |
| Return on Assets (ROA) | 4.33% | 7.25% | 3.10% | -0.19% | -9.54% | -17.18% |
| Return on Invested Capital (ROIC) | 9.02% | 23.75% | 11.12% | -0.97% | -86.19% | -245.59% |
| Return on Capital Employed (ROCE) | 6.00% | 11.10% | 5.00% | -0.20% | -12.40% | -35.30% |
| Earnings Yield | 6.08% | 4.58% | 1.70% | -0.97% | -1.84% | -8.31% |
| FCF Yield | 3.45% | 3.21% | -3.87% | -6.40% | -2.93% | -6.09% |
| Buyback Yield / Dilution | -1.53% | -15.12% | -8.30% | -10.02% | -7.02% | -11.80% |