Tactile Systems Technology, Inc.
TCMD Healthcare Medical Devices
Tactile Systems Technology, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $329.5 million, up 12.5% from fiscal 2024. In the quarter to June 2026, revenue grew 8.61%, EPS grew 142.9% and free cash flow fell 86.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Tactile Systems Technology, Inc. (TCMD) Altman Z-score
Tactile Systems Technology, Inc.'s Altman Z-score for fiscal 2025 is 9.61, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 9.61 | 4.64 |
| FY2024 | 4.97 | 1.00 |
| FY2023 | 3.97 | 1.92 |
| FY2022 | 2.05 | (1.16) |
| FY2021 | 3.20 | (9.21) |
| FY2020 | 12.41 | (9.52) |
| FY2019 | 21.93 | (8.43) |
| FY2018 | 30.36 | 8.81 |
| FY2017 | 21.55 | 13.31 |
| FY2016 | 8.24 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.45 | — | 0.54 | |
| Retained earnings / total assets | 0.20 | — | 0.28 | |
| EBIT / total assets | 0.11 | — | 0.35 | |
| Market value of equity / total liabilities | 12.05 | — | 7.23 | |
| Sales / total assets | 1.20 | — | 1.20 | |
| Altman Z-score | Safe zone | 9.61 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 8.52 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| SSII SS Innovations International, Inc. compare | 17.5× |
| DCTH Delcath Systems, Inc. compare | 13.3× |
| TCMD Tactile Systems Technology, Inc. | 9.6× |
| BWAY Brainsway Ltd. Sponsored ADR compare | 2.8× |
| KIDS OrthoPediatrics Corp. compare | 1.5× |
| MASS 908 Devices Inc. compare | 1.1× |
| SGHT Sight Sciences, Inc. compare | 0.8× |
| CERS Cerus Corporation compare | −4.0× |
| PACB Pacific Biosciences of California, Inc. compare | −6.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets