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MDxHealth SA

MDXH Healthcare Diagnostics & Research

MDxHealth SA’s revenue for fiscal 2025 (year ended December 2025) was $107.9 million, up 19.8% from fiscal 2024.

Revenue
+12.0%
EPS
−15.8%
Free cash flow
−200.2%
Total debt
+26.0%

Quarter to June 2026, against a year earlier

0.15 0.01 −6.25%
Market cap
$14.4M
P/E
0.0×
Fwd P/E
−0.3×
Dividend yield
—
F-score
4/9
Altman Z
−2.71
Beneish M
−3.54
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.00
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — 1 — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 14.40
Revenue ttm 114.78
Net income ttm (22.33)
Free cash flow ttm (6.02)
Net debt Q 84.84
Valuation
P/E 0.00
Forward P/E (0.32) (negative: loss-making)
Price / sales 0.07
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 1.15
Debt / equity Q (3.42) (negative: negative equity)
Interest coverage Q (0.84)
Growth
Revenue growth Q +12.01% (above 0%: growing)
Operating income growth Q −11.14% (below 0%: shrinking)
EPS, this year +24.38% (at or above 15%: strong)
EPS, next year A +44.08% (at or above 15%: strong)
Revenue, next year A −9.44% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +40.66% (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 0.8×, against a ten-year median of 1.4×; over the ten years it ranged from 0.7× in 2024 to 3.0× in 2025.
P/S against its own 10 years 0.12%
10-year low 10-year high
EV/Sales against its own 10 years 12.11%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 22 47 29 19
Receivables 11 14 15 15
Inventory 3 4 7 6
Other — — — —
38 67 53 43
2023 2024 2025 Q'26
Payables 9 8 10 11
ST’ Debt 1 0 — —
Other 9 33 37 25
20 43 50 37

Compound Annual Growth %

10y 5y 3y
Sales — 42.34% 42.79%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate −0.12 Actual −0.18

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 −0.12 −0.16 Miss by 0.04
Dec 2025 −0.13 −0.17 Miss by 0.04
Mar 2026 −0.13 −0.19 Miss by 0.06
Jun 2026 −0.12 −0.18 Miss by 0.06
Sep 2026 −0.07 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.17) (0.22) — — —
’25 (0.19) — (0.16) (0.17) (0.67)
’24 (0.31) (0.42) (0.40) (0.14) (1.16)
’23 (0.53) (0.39) (0.37) (0.39) (1.66)
’22 (0.50) — (0.80) — (2.78)
’21 — — — — (2.40)
’20 — — — — (3.40)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 27 27 — — —
’25 24 — 27 33 108
’24 20 22 23 25 90
’23 15 17 19 19 70
’22 6 — 11 — 37
’21 — — — — 22
’20 — — — — 18
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (6) — — —
’25 (3) (2) 2 0 (2)
’24 (6) (4) (6) (3) (19)
’23 (4) (6) (4) (7) (21)
’22 (9) (6) (9) (10) (34)
’21 — (12) — (23) (23)
’20 — (11) — (20) (20)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2) (6) — — —
’25 (3) (2) 1 0 (3)
’24 (6) (5) (6) (3) (21)
’23 (6) (8) (5) (8) (27)
’22 (10) (7) (9) (11) (38)
’21 — (12) — (23) (23)
’20 — (11) — (21) (21)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
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 30 41 28 12 18 22 37 70 90 108 115 +15.3% 98 111 122 +4.2%
Gross margin, % 100.00 74.81 58.97 0.25 43.58 47.50 51.87 62.58 61.23 64.55 63.23 (35.4) pt
EBT 30 (12) (32) (44) (29) (29) (44) (43) (38) (35) (37) n/m
EBT margin, % 100.00 (30.61) (114.42) (370.60) (155.27) (130.41) (118.86) (61.40) (41.85) (32.79) (32.47) (132.8) pt
Net income 0 (12) (32) (43) (27) (27) (38) (27) (25) (14) (22) n/m
Per share, $
Per share, $ Revenue 5.91 8.12 4.93 1.89 2.22 1.82 2.34 2.71 2.74 2.16 2.19 (10.6%)
Earnings (2.60) (2.50) (5.40) (6.90) (3.40) (2.40) (2.78) (1.66) (1.16) (0.67) (0.72) (14.0%)
Cash flow 0.00 (2.09) (4.95) (3.57) (2.43) (1.85) (2.15) (0.83) (0.56) (0.04) (0.10) n/m
Capex 0.00 (0.97) (0.23) (0.01) (0.06) (0.07) (0.26) (0.19) (0.07) (0.02) (0.01) n/m
Free cash flow 0.00 (3.07) (5.19) (3.58) (2.50) (1.92) (2.41) (1.02) (0.63) (0.07) (0.11) n/m
Book value 0.00 8.72 9.05 3.16 0.70 3.85 0.59 0.28 0.45 (0.24) (0.58) n/m
Shares, m 5 5 6 6 8 12 16 26 33 50 51 +29.0%
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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.53 0.86 1.63 0.07 0.4
P/B 0.00 0.00 0.00 0.00 0.00 0.00 11.99 14.88 5.25 0.00 0.00 3.2
EV/Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.78 1.00 2.14 0.81 0.5
EV/FCF 0.27 0.27 0.27 0.27 0.27 0.65 (3.65) (4.62) (4.34) (54.25) (13.29) (6.5)
Cash, $m
Cash, $m Operating cash flow — (10) (29) (22) (20) (23) (34) (21) (19) (2) (5) (17.7%)
Capex — (5) (1) 0 (1) (1) (4) (5) (2) (1) (1) (16.4%)
Free cash flow — (15) (30) (22) (21) (23) (38) (27) (21) (3) (6) (17.3%)
Balance, $m
Balance, $m Working capital — 26 36 20 10 50 11 19 24 4 6 (21.3%)
Net debt — (16) (26) (12) (1) (44) 23 17 12 56 85 n/m
Shareholders’ equity — 44 52 20 6 47 9 7 15 (12) (30) n/m
Returns, %
Returns, % ROA 0.00 (42.00) (52.34) (81.24) (79.09) (54.25) (45.36) (34.72) (26.58) (21.96) (27.38) (22.0) pt
ROIC 0.00 (27.79) (76.21) (336.17) (338.36) (538.20) (73.04) (69.39) (57.77) (20.66) (23.77) (20.7) pt
ROE 0.00 0.00 (67.84) (119.99) (224.16) (109.96) (156.70) (521.70) (345.31) (2,440.41) 238.67 (2,440.4) pt
People
People Employees — — 187 177 177 191 258 300 312 364 — +10.0%
Revenue/emp, $m 0.00 0.00 0.15 0.07 0.10 0.12 0.14 0.23 0.29 0.30 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

MDxHealth SA vs peers in Diagnostics & Research (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
QUCY Quantum Cyber N.V $60.8M — (loss-making) — (loss-making) +11.12% (above 0%: growing) n/m +26.73% (above 0%: growing) 62.71% 0.00% Compare
PRPO Precipio, Inc. $33.3M — (loss-making) 15.4× +24.18% (above 0%: growing) n/m +79.59% (above 0%: growing) 44.67% (8.53%) Compare
MDXH MDxHealth SA $14.4M — (loss-making) — (loss-making) +12.01% (above 0%: growing) n/m −200.20% (below 0%: shrinking) 65.75% (18.74%)
NDRA ENDRA Life Sciences Inc. $7.5M — (loss-making) — (loss-making) −98.80% (below 0%: shrinking) n/m +15.04% (above 0%: growing) 0.00% 0.00% Compare
TTOO T2 Biosystems, Inc. $6.5M — (loss-making) — (loss-making) +34.85% (above 0%: growing) n/m +53.36% (above 0%: growing) (106.60%) (511.89%) Compare
XWEL XWELL, Inc. $6.1M — (loss-making) — (loss-making) −7.08% (below 0%: shrinking) n/m −43.02% (below 0%: shrinking) 41.26% (29.45%) Compare
BIAF bioAffinity Technologies, Inc. $3.3M — (loss-making) — (loss-making) +18.99% (above 0%: growing) n/m −23.69% (below 0%: shrinking) 27.98% (220.77%) Compare
DMTKQ DermTech, Inc. $3.3M — (loss-making) — (loss-making) +10.58% (above 0%: growing) n/m +24.87% (above 0%: growing) 18.54% (533.37%) Compare
ADVB Advanced Biomed Inc. $3.1M 0.3× — — n/m −101.33% (below 0%: shrinking) — 0.00% Compare
Median of peers $6.3M — — +11.12% — +19.96% 27.98% (18.99%)

All 49 Diagnostics & Research stocks →

MDxHealth SA (MDXH) Latest News

30 Oct

Impact 3 · · Simply Wall St.

29 Oct

Impact 3 · · GlobeNewswire

15 Oct

Impact 3 · · GlobeNewswire

5 Sep

Impact 3 ·

20 Aug

Impact 4 · · The Motley Fool transcript

14 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript

13 Aug

Impact 4 ·
Impact 3 ·

24 Jul

Impact 3 ·

29 Jun

Impact 3 ·

14 May

Impact 4 ·
Impact 3 · · Moby transcript

13 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Benzinga transcript
Impact 3 · · MarketBeat
Impact 3 · · GlobeNewswire

16 Mar

Impact 4 · · GlobeNewswire

27 Feb

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

26 Feb

Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · GlobeNewswire

12 Feb

Impact 3 · · GlobeNewswire

12 Jan

Impact 3 · · GlobeNewswire

8 Jan

Impact 3 · · Simply Wall St.

7 Jan

Impact 4 · · TipRanks

6 Jan

Impact 4 · · GlobeNewswireMT NewswiresMT NewswiresMT NewswiresInsider MonkeyMT Newswires

28 Nov

Impact 3 · · Simply Wall St.

13 Nov

Impact 4 · · The Motley Fool transcript
stockrow.com/MDXH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com