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

TransMedics Group, Inc.

TransMedics Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $605.5 million, up 37.1% from fiscal 2024. In the quarter to June 2026, revenue grew 20.7%, EPS fell 59.2%, free cash flow fell 87.6% and total debt rose 68.7%, 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.

70.78 5.74 −7.50%

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Market cap: $2.7B
P/E: 16.0×
Fwd P/E: 34.1×
Dividend yield: —
F-score: 7/9
Altman Z: 5.32
Beneish M: −1.32
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

Total sells 4.33

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	—	—	—	—	—	—
Sell	1	2	—	—	5	—	—	1	—	—	—	—

Insider Ownership 3.59%

Capital & Financial Ratios $m

Market Cap 2,650.00

Revenue 668.47

Net Income 151.70

Free Cash Flow 79.04

Net Debt 388.99

Current Ratio 6.63

Debt/Equity 1.66

P/E ratio 16.01

Fwd P/E 34.10

P/S ratio 3.66

P/B ratio 4.72

Past 5Y EPS Growth —

This Y EPS Growth (69.91%)

Next Y EPS Growth 54.25%

Next Y revenue growth 22.50%

Next 5Y EPS Growth (13.19%)

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 2.93%

10-year low 10-year high

P/B against its own 10 years 13.30%

10-year low 10-year high

EV/Sales against its own 10 years 2.72%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	395	337	488	473
Receivables	64	98	84	104
Inventory	44	47	49	54
Other	—	—	—	—
	511	497	638	651

	2023	2024	2025	Q'26
Payables	13	10	10	13
ST’ Debt	—	—	10	20
Other	—	—	—	—
	55	60	89	98

Compound Annual Growth %

	10y	5y	3y
Sales	—	88.21%	86.42%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	35.42%	36.17%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	174	190	—	—	—
’25	144	157	144	161	605
’24	97	114	109	122	442
’23	42	52	66	81	242
’22	16	21	26	31	93
’21	7	8	5	10	30
’20	8	3	7	8	26

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	25	17	—	—	—
’25	(3)	92	70	35	193
’24	(3)	26	7	20	49
’23	(9)	(6)	(7)	8	(13)
’22	(18)	(9)	(14)	(4)	(46)
’21	(7)	(6)	(9)	(7)	(29)
’20	(8)	(9)	(6)	(7)	(30)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(12)	10	—	—	—
’25	(30)	83	62	19	134
’24	(48)	2	(41)	6	(81)
’23	(10)	(7)	(142)	(34)	(192)
’22	(20)	(13)	(17)	(7)	(58)
’21	(7)	(6)	(9)	(10)	(32)
’20	(8)	(9)	(6)	(7)	(31)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.20	0.41	—	—	—
’25	0.70	0.92	0.66	2.62	4.87
’24	0.35	0.35	0.12	0.19	1.01
’23	(0.08)	(0.03)	(0.78)	0.12	(0.77)
’22	(0.38)	(0.41)	(0.25)	(0.21)	(1.23)
’21	(0.29)	(0.39)	(0.47)	(0.46)	(1.60)
’20	(0.42)	(0.36)	(0.19)	(0.23)	(1.16)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	15.75	10.10	17.20	10.00	36.42	58.27	55.00	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	31.54	20.99	49.50	64.36	99.63	177.37	156.00
People
People	Employees	—	—	92	109	110	148	212	584	728	898
	Revenue/emp, $m	0.00	0.00	0.14	0.22	0.23	0.20	0.44	0.41	0.61	0.67
Income, $m
Income, $m	Revenue	6	8	13	24	26	30	93	242	442	605
	Gross margin, %	8.70	24.81	44.05	58.73	64.88	69.92	69.84	63.77	59.36	59.92
	EBT	(24)	(21)	(24)	(34)	(29)	(44)	(36)	(27)	36	108
	EBT margin, %	(387.58)	(270.54)	(182.18)	(141.95)	(112.00)	(145.99)	(38.70)	(11.04)	8.10	17.76
	Net income	(24)	0	(24)	(34)	(29)	(44)	(36)	(25)	35	190
	Depreciation	0	1	1	1	2	2	3	8	20	27
Per share, $
Per share, $	Revenue	0.31	0.39	9.58	1.66	1.04	1.10	3.16	7.43	13.29	17.81
	Earnings	(1.21)	(1.04)	(17.48)	(2.36)	(1.16)	(1.60)	(1.23)	(0.77)	1.07	5.60
	Cash flow	(1.21)	(1.16)	(19.12)	(2.27)	(1.23)	(1.05)	(1.55)	(0.40)	1.47	5.67
	Capex	0.00	0.00	(0.31)	(0.01)	(0.02)	(0.13)	(0.40)	(5.51)	(3.90)	(1.74)
	Free cash flow	(1.21)	(1.16)	(19.43)	(2.28)	(1.24)	(1.17)	(1.95)	(5.91)	(2.44)	3.93
	Book value	0.00	0.89	(4.21)	3.85	4.21	2.46	6.34	4.22	6.88	13.92
	Shares, m	20	20	1	14	25	28	30	33	33	34
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	58.27	21.80
	P/S	2.09	2.09	2.09	11.44	19.17	17.49	18.06	10.34	4.69	6.83
	P/B	0.00	0.00	0.00	4.94	4.73	7.80	9.01	18.20	9.06	8.74
	EV/Sales	3.51	3.51	3.51	9.47	15.62	15.59	16.55	10.80	5.09	6.87
	EV/FCF	(1.95)	(1.95)	(1.95)	(6.89)	(13.04)	(14.57)	(26.80)	(13.59)	(27.76)	31.14
Cash, $m
Cash, $m	Operating cash flow	(24)	(23)	(26)	(32)	(30)	(29)	(46)	(13)	49	193
	Capex	(1)	0	0	0	0	(4)	(12)	(179)	(130)	(59)
	Free cash flow	(24)	(23)	(26)	(32)	(31)	(32)	(58)	(192)	(81)	134
Balance, $m
Balance, $m	Working capital	—	23	22	84	135	95	229	456	437	548
	Total debt	—	9	34	34	35	35	60	506	509	512
	Net debt	—	(16)	13	(47)	(91)	(57)	(141)	111	173	24
	Shareholders’ equity	—	18	(6)	55	104	68	187	137	229	473
Returns, %
Returns, %	ROA	0.00	(52.61)	(112.70)	(45.50)	(22.34)	(30.82)	(17.59)	(5.09)	4.70	20.33
	ROIC	—	0.00	(164.13)	(228.22)	(127.77)	(232.50)	(42.41)	(7.22)	5.84	13.65
	ROE	0.00	11.54	13.16	48.76	(36.27)	(51.49)	(28.39)	(15.42)	19.39	54.24

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
IRTC iRhythm Holdings, Inc.	$3.6B	— (loss-making)	— (loss-making)	+20.08% (above 0%: growing)	n/m	+116.98% (above 0%: growing)	72.80%	(1.13%)	Compare
NEOG Neogen Corporation	$2.7B	— (loss-making)	— (loss-making)	+6.51% (above 0%: growing)	n/m	+135.75% (above 0%: growing)	47.35%	(0.81%)	Compare
TMDX TransMedics Group, Inc.	$2.7B	16.0×	34.1×	+20.70% (above 0%: growing)	−59.22% (below 0%: shrinking)	−87.62% (below 0%: shrinking)	59.59%	12.50%
UFPT UFP Technologies, Inc.	$2.3B	31.2×	23.6×	+15.07% (above 0%: growing)	+20.63% (above 0%: growing)	−35.77% (below 0%: shrinking)	29.27%	16.15%	Compare
BFLY Butterfly Network, Inc.	$2.1B	— (loss-making)	— (loss-making)	+39.47% (above 0%: growing)	n/m	−113.85% (below 0%: shrinking)	71.41%	(41.90%)	Compare
AXGN AxoGen, Inc.	$2.1B	— (loss-making)	— (loss-making)	+23.06% (above 0%: growing)	n/m	−17.36% (below 0%: shrinking)	72.67%	(3.09%)	Compare
INSP Inspire Medical Systems, Inc.	$2.0B	14.8×	93.5×	−7.60% (below 0%: shrinking)	n/m	+322.84% (above 0%: growing)	85.48%	(0.26%)	Compare
ESTA Establishment Labs Holdings Inc.	$1.8B	— (loss-making)	— (loss-making)	+31.66% (above 0%: growing)	n/m	+2.75% (above 0%: growing)	70.64%	(6.35%)	Compare
ATEC Alphatec Holdings, Inc.	$1.7B	— (loss-making)	— (loss-making)	+15.07% (above 0%: growing)	n/m	−146.87% (below 0%: shrinking)	72.17%	(0.89%)	Compare
Median of peers	$2.1B	—	—	+17.58%	—	−7.30%	71.79%	(1.01%)

All 149 Medical Devices stocks →

TransMedics Group, Inc. (TMDX) key facts

Strength: TransMedics Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $605.5 million, up 37.1% from fiscal 2024.
Strength: Net income was $190.3 million, or $5.60 per share (basic), a net margin of 31.4%.
TransMedics Group, Inc. (TMDX) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, TMDX traded at $70.78, a market capitalization of $2.7 billion.
At that price the stock trades at 16.0× trailing-twelve-month earnings and 3.7× sales.
Return on equity was 54.2% and debt-to-equity 1.66.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 5.32 (safe zone) for fiscal 2025.