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

MDxHealth SA

MDxHealth SA’s revenue for fiscal 2025 (year ended December 2025) was $107.9 million, up 19.8% from fiscal 2024. In the quarter to June 2026, revenue grew 12.0%, EPS fell 15.8%, free cash flow fell 200.2% and total debt rose 26.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

0.21 0.39 −65.00%

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Market cap: $57.6M
P/E: 0.0×
Fwd P/E: −0.8×
Dividend yield: —
F-score: 4/9
Altman Z: −2.71
Beneish M: −3.54
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

Total buys 1.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	1	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 57.60

Revenue 114.78

Net Income (22.33)

Free Cash Flow (6.02)

Net Debt 84.84

Current Ratio 1.15

Debt/Equity (3.42)

P/E ratio 0.00

Fwd P/E (0.83)

P/S ratio 0.10

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 24.41%

Next Y EPS Growth 44.12%

Next Y revenue growth (10.90%)

Next 5Y EPS Growth 38.77%

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 0.12%

10-year low 10-year high

EV/Sales against its own 10 years 14.86%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

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%

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	8.30	5.97	0.35	1.55	1.35	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	13.17	10.95	7.60	4.64	5.33
People
People	Employees	—	—	187	177	177	191	258	300	312	364
	Revenue/emp, $m	0.00	0.00	0.15	0.07	0.10	0.12	0.14	0.23	0.29	0.30
Income, $m
Income, $m	Revenue	30	41	28	12	18	22	37	70	90	108
	Gross margin, %	100.00	74.81	58.97	0.25	43.58	47.50	51.87	62.58	61.23	64.55
	EBT	30	(12)	(32)	(44)	(29)	(29)	(44)	(43)	(38)	(35)
	EBT margin, %	100.00	(30.61)	(114.42)	(370.60)	(155.27)	(130.41)	(118.86)	(61.40)	(41.85)	(32.79)
	Net income	0	(12)	(32)	(43)	(27)	(27)	(38)	(27)	(25)	(14)
	Depreciation	—	2	3	3	3	3	5	7	8	9
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
	Earnings	(2.60)	(2.50)	(5.40)	(6.90)	(3.40)	(2.40)	(2.78)	(1.66)	(1.16)	(0.67)
	Cash flow	0.00	(2.09)	(4.95)	(3.57)	(2.43)	(1.85)	(2.15)	(0.83)	(0.56)	(0.04)
	Capex	0.00	(0.97)	(0.23)	(0.01)	(0.06)	(0.07)	(0.26)	(0.19)	(0.07)	(0.02)
	Free cash flow	0.00	(3.07)	(5.19)	(3.58)	(2.50)	(1.92)	(2.41)	(1.02)	(0.63)	(0.07)
	Book value	0.00	8.72	9.05	3.16	0.70	3.85	0.59	0.28	0.45	(0.24)
	Shares, m	5	5	6	6	8	12	16	26	33	50
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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.53	0.86	1.63
	P/B	0.00	0.00	0.00	0.00	0.00	0.00	11.99	14.88	5.25	0.00
	EV/Sales	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.78	1.00	2.14
	EV/FCF	0.27	0.27	0.27	0.27	0.27	0.65	(3.65)	(4.62)	(4.34)	(54.25)
Cash, $m
Cash, $m	Operating cash flow	—	(10)	(29)	(22)	(20)	(23)	(34)	(21)	(19)	(2)
	Capex	—	(5)	(1)	0	(1)	(1)	(4)	(5)	(2)	(1)
	Free cash flow	—	(15)	(30)	(22)	(21)	(23)	(38)	(27)	(21)	(3)
Balance, $m
Balance, $m	Working capital	—	26	36	20	10	50	11	19	24	4
	Total debt	—	1	0	10	15	15	39	40	59	85
	Net debt	—	(16)	(26)	(12)	(1)	(44)	23	17	12	56
	Shareholders’ equity	—	44	52	20	6	47	9	7	15	(12)
Returns, %
Returns, %	ROA	0.00	(42.00)	(52.34)	(81.24)	(79.09)	(54.25)	(45.36)	(34.72)	(26.58)	(21.96)
	ROIC	0.00	(27.79)	(76.21)	(336.17)	(338.36)	(538.20)	(73.04)	(69.39)	(57.77)	(20.66)
	ROE	0.00	0.00	(67.84)	(119.99)	(224.16)	(109.96)	(156.70)	(521.70)	(345.31)	(2,440.41)

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
XGN Exagen Inc.	$207.4M	— (loss-making)	— (loss-making)	+15.92% (above 0%: growing)	n/m	+211.34% (above 0%: growing)	61.27%	(8.64%)	Compare
BNR Burning Rock Biotech Limited Sponsored ADR	$137.1M	— (loss-making)	11.1×	−4.22% (below 0%: shrinking)	n/m	+46.01% (above 0%: growing)	72.58%	(13.36%)	Compare
MDXHF MedX Health Corp.	$103.2M	— (loss-making)	— (loss-making)	+33.59% (above 0%: growing)	n/m	+41.60% (above 0%: growing)	37.19%	(1,027.95%)	Compare
IMDX Insight Molecular Diagnostics Inc.	$100.1M	— (loss-making)	— (loss-making)	−53.86% (below 0%: shrinking)	n/m	−54.02% (below 0%: shrinking)	65.69%	(4,770.71%)	Compare
QUCY Quantum Cyber N.V	$95.1M	— (loss-making)	— (loss-making)	+11.12% (above 0%: growing)	n/m	+26.73% (above 0%: growing)	62.71%	0.00%	Compare
MDXH MDxHealth SA	$57.6M	— (loss-making)	— (loss-making)	+12.01% (above 0%: growing)	n/m	−200.20% (below 0%: shrinking)	65.75%	(18.74%)
MBAI MBody AI Ltd.	$47.4M	— (loss-making)	—	—	n/m	+122.08% (above 0%: growing)	0.00%	0.00%	Compare
PRPO Precipio, Inc.	$40.4M	— (loss-making)	15.4×	+24.18% (above 0%: growing)	n/m	+79.59% (above 0%: growing)	44.67%	(8.53%)	Compare
PMD Psychemedics Corporation	$15.7M	— (loss-making)	— (loss-making)	−11.46% (below 0%: shrinking)	n/m	+57.45% (above 0%: growing)	31.37%	3.80%	Compare
Median of peers	$97.6M	—	—	+11.12%	—	+51.73%	52.97%	(8.59%)

All 52 Diagnostics & Research stocks →

MDxHealth SA (MDXH) key facts

Strength: MDxHealth SA’s revenue for fiscal 2025 (year ended December 2025) was $107.9 million, up 19.8% from fiscal 2024.
MDxHealth SA (MDXH) is a Diagnostics & Research company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, MDXH traded at $0.21, a market capitalization of $57.6 million.
Return on equity was −2,440.4% and debt-to-equity -3.42.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −2.71 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.