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Tandem Diabetes Care, Inc.

TNDM Healthcare Medical Devices

Tandem Diabetes Care, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 7.93% from fiscal 2024.

Revenue
+13.8%
EPS
+67.7%
Free cash flow
−232.0%
Total debt
+94.9%

Quarter to September 2026, against a year earlier

16.26 1.73 −9.62%
Market cap
$1.3B
P/E
0.0×
Fwd P/E
−28.1×
Dividend yield
—
F-score
3/9
Altman Z
0.19
Beneish M
−3.10
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 2 — — — — — — 1 —
Insider Ownership 1.34%

Capital & Financial Ratios $m

Size
Market Cap 1,250.00
Revenue ttm 1,075.85
Net income ttm (49.23)
Free cash flow ttm (36.30)
Net debt Q 160.31
Valuation
P/E 0.00
Forward P/E (28.10) (negative: loss-making)
Price / sales 1.16
Forward P/S Powerpack
Price / FCF 0.00
Price / book 9.20 (above 6: high)
Financial health
Current ratio Q 3.21 (at or above 1.5: strong)
Debt / equity Q 4.47 (above 2: weak)
Interest coverage Q (1.03)
Growth
Revenue growth Q +13.82% (above 0%: growing)
Operating income growth Q +89.64% (above 0%: growing)
EPS, this year +54.98% (at or above 15%: strong)
EPS, next year A +118.01% (at or above 15%: strong)
Revenue, next year A +5.64%
EPS, past 5 yrs —
EPS, next 5 yrs A +44.82% (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 1.3×, against a ten-year median of 2.9×; over the ten years it ranged from 0.7× in 2017 to 18.0× in 2018.
P/S against its own 10 years 20.10%
10-year low 10-year high
P/B against its own 10 years 41.24%
10-year low 10-year high
EV/Sales against its own 10 years 24.06%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 468 438 293 443
Receivables 106 115 165 180
Inventory 158 150 129 143
Other — — — —
748 724 618 821
2023 2024 2025 Q'26
Payables 50 45 47 75
ST’ Debt — — — —
Other 28 49 75 71
195 247 243 256

Compound Annual Growth %

10y 5y 3y
Sales 30.13% 15.26% 8.19%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 9.35% (15.78%) (29.35%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.34 Actual −0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.31 −0.31 Met by 0.00
Q4 FY25 −0.05 −0.01 Beat by 0.04
Q1 FY26 −0.46 −0.30 Beat by 0.16
Q2 FY26 −0.34 −0.31 Beat by 0.03
Q3 FY26 −0.27 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.30) (0.31) (0.10) — —
’25 (1.97) (0.78) (0.31) (0.01) (3.04)
’24 (0.65) (0.47) (0.35) 0.01 (1.47)
’23 (1.92) (0.55) (0.51) (0.46) (3.43)
’22 (0.23) (0.24) (0.76) (0.25) (1.47)
’21 (0.08) 0.06 0.09 0.16 0.24
’20 (0.25) (0.45) (0.15) 0.22 (0.56)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 247 255 284 — —
’25 234 241 249 290 1,015
’24 192 222 244 283 940
’23 169 196 186 197 748
’22 176 200 205 221 801
’21 141 172 180 210 703
’20 98 109 124 168 499
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 11 (35) (1) — —
’25 (18) (9) 8 10 (10)
’24 (8) (5) 27 11 24
’23 (18) (6) 0 (7) (32)
’22 14 7 24 6 50
’21 29 29 34 20 111
’20 (21) 15 15 15 25
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 5 (39) (6) — —
’25 (21) (16) 4 3 (30)
’24 (12) (12) 22 (39) (41)
’23 (29) (14) (5) (35) (83)
’22 11 (6) 2 0 8
’21 25 18 31 14 88
’20 (27) 1 8 11 (8)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 84 108 184 362 499 703 801 748 940 1,015 1,076 +31.9% 1,072 1,205 1,361 +10.3%
Gross margin, % 28.00 40.98 48.85 53.60 52.23 53.53 51.54 49.17 52.07 53.81 56.65 +25.8 pt
EBT (83) (73) (123) (25) (36) 16 (93) (220) (92) (200) (44) +10.2%
EBT margin, % (99.07) (67.87) (66.66) (6.79) (7.27) 2.26 (11.59) (29.46) (9.77) (19.74) (4.05) +79.3 pt
Net income (83) (73) (123) (25) (34) 16 (95) (223) (96) (205) (49) +10.5%
Per share, $
Per share, $ Revenue 27.56 18.95 3.82 6.19 8.18 11.16 12.49 11.51 14.37 15.08 15.45 (6.5%)
Earnings (27.30) (12.87) (2.55) (0.42) (0.56) 0.25 (1.47) (3.43) (1.47) (3.04) (0.72) (21.6%)
Cash flow (20.01) (11.65) (0.17) 0.72 0.40 1.77 0.79 (0.49) 0.37 (0.14) (0.21) (42.2%)
Capex (2.92) (1.01) (0.06) (0.33) (0.53) (0.37) (0.67) (0.79) (1.00) (0.30) (0.31) (22.4%)
Free cash flow (22.93) (12.66) (0.23) 0.38 (0.12) 1.39 0.12 (1.28) (0.63) (0.44) (0.52) (35.5%)
Book value (1.94) (5.13) 2.73 3.33 6.01 6.87 6.86 4.83 4.02 2.31 1.94 n/m
Shares, m 3 6 48 59 61 63 64 65 65 67 69 +41.0%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 627.17 0.00 0.00 0.00 0.00 0.00 62.7
P/S 0.76 0.13 9.94 9.63 11.70 13.49 3.57 2.46 2.51 1.46 1.16 5.6
P/B 0.00 0.00 13.92 17.89 15.93 21.89 6.50 5.87 8.96 9.53 9.20 10.0
EV/Sales 1.04 0.71 9.66 9.18 11.13 13.01 3.15 2.22 2.37 1.47 1.30 5.4
EV/FCF (1.25) (1.07) (156.04) 149.17 (728.34) 104.05 336.09 (19.87) (34.69) (15.13) (13.30) (36.7)
Cash, $m
Cash, $m Operating cash flow (61) (66) (8) 42 25 111 50 (32) 24 (10) (15) (18.5%)
Capex (9) (6) (3) (20) (32) (24) (43) (52) (66) (20) (22) +9.3%
Free cash flow (70) (72) (11) 22 (8) 88 8 (83) (41) (30) (36) (9.1%)
Balance, $m
Balance, $m Working capital 61 28 122 177 533 680 685 553 477 375 565 +22.5%
Net debt 23 62 (129) (162) (282) (342) (334) (183) (130) 17 160 (3.3%)
Shareholders’ equity (6) (29) 131 195 366 433 440 314 263 155 135 n/m
Returns, %
Returns, % ROA (70.38) (70.31) (81.30) (9.30) (6.60) 1.92 (9.66) (22.20) (10.00) (22.15) (4.84) +48.2 pt
ROIC (278.83) (118.44) (1,240.85) (32.14) (5.90) 15.60 (54.60) (111.48) (46.57) (67.83) (5.35) +211.0 pt
ROE (290.04) 416.44 (240.11) (15.17) (12.25) 3.89 (21.67) (59.08) (33.30) (97.88) (36.74) +192.2 pt
People
People Employees 591 574 653 1,043 1,500 2,000 2,600 2,400 2,650 2,500 — +17.4%
Revenue/emp, $m 0.14 0.19 0.28 0.35 0.33 0.35 0.31 0.31 0.35 0.41 — +12.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Tandem Diabetes Care, Inc. vs peers in Medical Devices (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
ENOV Enovis Corporation $1.7B — (loss-making) 98.6× +1.79% (above 0%: growing) n/m +20.30% (above 0%: growing) 60.83% 0.60% Compare
LMRI Lumexa Imaging Holdings, Inc. $1.3B — (loss-making) 38.0× +7.82% (above 0%: growing) n/m +257.54% (above 0%: growing) 14.72% 8.72% Compare
TNDM Tandem Diabetes Care, Inc. $1.3B — (loss-making) — (loss-making) +13.82% (above 0%: growing) n/m −231.98% (below 0%: shrinking) 56.55% (0.84%)
AORT Artivion, Inc. $1.2B — (loss-making) — (loss-making) +11.32% (above 0%: growing) n/m −202.47% (below 0%: shrinking) 64.03% (6.65%) Compare
ATEC Alphatec Holdings, Inc. $1.2B — (loss-making) — (loss-making) +12.55% (above 0%: growing) n/m −149.22% (below 0%: shrinking) 71.55% 1.47% Compare
PRCT PROCEPT BioRobotics Corporation $1.2B — (loss-making) — (loss-making) +17.96% (above 0%: growing) n/m −1.57% (below 0%: shrinking) 66.28% (27.85%) Compare
IART Integra LifeSciences Holdings Corporation $1.1B 83.0× 26.0× +2.27% (above 0%: growing) n/m +232.94% (above 0%: growing) 51.04% 4.60% Compare
IRMD iRadimed Corporation $1.1B 44.9× 39.6× +14.15% (above 0%: growing) +15.91% (above 0%: growing) +18.58% (above 0%: growing) 76.26% 33.63% Compare
SIBN SiBone $1.1B — (loss-making) — (loss-making) +14.49% (above 0%: growing) n/m +31.13% (above 0%: growing) 79.29% (7.81%) Compare
Median of peers $1.2B — 38.8× +11.94% — +19.44% 65.16% 1.04%

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 7 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.86m 2.92m 22.97
2024 8.53m 6.79m 60.43
2023 4.65m 1.51m 49.62
2022 6.38m (8.34m) 75.41
2021 5.74m 16.41m 252.51

Ownership

Directors and executive officers, together 2.10%
Blackrock, Inc 14.80%
The Vanguard Group 10.30%
Sessa Capital 6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Tandem Diabetes Care, Inc. (TNDM) Latest News

6 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · Simply Wall St.

5 Nov

Impact 3 · · StockStory
Impact 3 · · Business Wire

29 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 · · Simply Wall St.

9 Oct

Impact 4 · · Zacks

30 Sep

Impact 4 · · Simply Wall St.

28 Sep

Impact 4 · · Business Wire

1 Sep

Impact 3 · · medtechdive.com

25 Aug

Impact 3 ·

18 Aug

Impact 4 · · MarketBeat

15 Aug

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13 Aug

Impact 4 · · The Motley Fool transcript

11 Aug

Impact 3 ·

9 Aug

Impact 3 ·

8 Aug

Impact 4 ·

7 Aug

Impact 4 · · Moby
Impact 3 · · MarketBeat transcript

6 Aug

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17 Jul

Impact 3 ·

16 Jul

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11 Jul

Impact 4 ·
Impact 3 ·

10 Jul

Impact 3 · · Trefis

9 Jul

Impact 3 ·

7 Jul

Impact 3 ·
stockrow.com/TNDM · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com