TransMedics Group, Inc.

TMDX Healthcare Medical Devices

TransMedics Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $605.5 million, up 37.1% from fiscal 2024.

Revenue
+41.2%
EPS
−31.0%
Free cash flow
−55.4%
Total debt
−89.3%

Quarter to September 2026, against a year earlier

85.47 16.49 +23.91%
Market cap
$2.4B
P/E
16.4×
Fwd P/E
49.4×
Dividend yield
—
F-score
7/9
Altman Z
5.32
Beneish M
−1.32
Dividend safety
n/a

TransMedics Group, Inc. (TMDX) Operating margin

Alert me on Operating margin

TransMedics Group, Inc.'s operating margin over the twelve months to 30 September 2026 was 11.9%, down 6.0 percentage points from fiscal 2025 (17.9%). Over the past ten years it has ranged from −740.4% (fiscal 2016) to 17.9% (fiscal 2025) — the current reading is the highest in ten years. That is above the Medical Devices industry median of −15.1% and above the Healthcare sector median of 0.00%.

Operating margin, annual

Embed this chart

Annual newest first

Period Operating margin Change (points)
FY2025 17.9% 9.44
FY2024 8.49% 20.38
FY2023 −11.9% 21.75
FY2022 −33.6% 96.65
FY2021 −130.3% (27.38)
FY2020 −102.9% 22.51
FY2019 −125.4% 30.05
FY2018 −155.5% 376.11
FY2017 −531.6% 208.83
FY2016 −740.4% —

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 13.9% 1.36
Jun 2026 12.5% 4.86
Mar 2026 7.64% (5.59)
Dec 2025 13.2% (2.97)
31 more quarters

Against its own ten years

Low −740.4% High 17.9%
Ten-year median −114.2%
Current reading's percentile 84

Operating margin against peers

Company Operating margin
UFPT UFP Technologies, Inc. compare 15.5%
TMDX TransMedics Group, Inc. 11.9%
INSP Inspire Medical Systems, Inc. compare 1.79%
NEOG Neogen Corporation compare −0.83%
AXGN AxoGen, Inc. compare −5.17%
ESTA Establishment Labs Holdings Inc. compare −7.63%
NVCR NovoCure Limited compare −17.2%
ALMR Alamar Biosciences, Inc. compare −46.5%
BFLY Butterfly Network, Inc. compare −46.9%
Medical Devices industry median −15.1%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

More on TMDX