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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. In the quarter to June 2026, revenue grew 5.77%, EPS grew 60.3%, free cash flow fell 146.3% and total debt rose 94.9%, each against the same quarter a year earlier.

16.17 0.35 −2.12%
Market cap
$1.2B
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 Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.00
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 2 — — — — — — —
Insider Ownership 0.42%

Capital & Financial Ratios $m

Market Cap 1,150.00
Revenue 1,041.42
Net Income (63.31)
Free Cash Flow (26.62)
Net Debt 146.58
Current Ratio 3.18 (at or above 1.5: strong)
Debt/Equity 4.62 (above 2: weak)
P/E ratio 0.00
Fwd P/E (28.10) (negative: loss-making)
P/S ratio 1.07
P/B ratio 8.56 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 53.99% (at or above 15%: strong)
Next Y EPS Growth 119.06% (at or above 15%: strong)
Next Y revenue growth 5.64%
Next 5Y EPS Growth 44.82% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, 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 17.66%
10-year low 10-year high
P/B against its own 10 years 35.19%
10-year low 10-year high
EV/Sales against its own 10 years 20.16%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 468 438 293 456
Receivables 106 115 165 162
Inventory 158 150 129 135
Other — — — —
748 724 618 805
2023 2024 2025 Q'26
Payables 50 45 47 64
ST’ Debt — — — —
Other 28 49 75 81
195 247 243 253

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%)

Revenue $m

Mar Jun Sep Dec Year
’26 247 255 — — —
’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) — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 (0.30) (0.31) — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.00 2.15 2.14 32.00 43.69 76.19 33.52 13.82 21.85 9.98

Analyst estimates 2026–2028

Powerpack
High 118.00 30.00 52.55 74.81 123.74 155.86 150.64 47.18 53.69 38.28
People
People Employees 591 574 653 1,043 1,500 2,000 2,600 2,400 2,650 2,500
Revenue/emp, $m 0.14 0.19 0.28 0.35 0.33 0.35 0.31 0.31 0.35 0.41
Income, $m
Income, $m Revenue 84 108 184 362 499 703 801 748 940 1,015
Gross margin, % 28.00 40.98 48.85 53.60 52.23 53.53 51.54 49.17 52.07 53.81
EBT (83) (73) (123) (25) (36) 16 (93) (220) (92) (200)
EBT margin, % (99.07) (67.87) (66.66) (6.79) (7.27) 2.26 (11.59) (29.46) (9.77) (19.74)
Net income (83) (73) (123) (25) (34) 16 (95) (223) (96) (205)
Depreciation 5 7 8 6 19 16 20 22 16 16
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
Earnings (27.30) (12.87) (2.55) (0.42) (0.56) 0.25 (1.47) (3.43) (1.47) (3.04)
Cash flow (20.01) (11.65) (0.17) 0.72 0.40 1.77 0.79 (0.49) 0.37 (0.14)
Capex (2.92) (1.01) (0.06) (0.33) (0.53) (0.37) (0.67) (0.79) (1.00) (0.30)
Free cash flow (22.93) (12.66) (0.23) 0.38 (0.12) 1.39 0.12 (1.28) (0.63) (0.44)
Book value (1.94) (5.13) 2.73 3.33 6.01 6.87 6.86 4.83 4.02 2.31
Shares, m 3 6 48 59 61 63 64 65 65 67
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 627.17 0.00 0.00 0.00 0.00
P/S 0.76 0.13 9.94 9.63 11.70 13.49 3.57 2.46 2.51 1.46
P/B 0.00 0.00 13.92 17.89 15.93 21.89 6.50 5.87 8.96 9.53
EV/Sales 1.04 0.71 9.66 9.18 11.13 13.01 3.15 2.22 2.37 1.47
EV/FCF (1.25) (1.07) (156.04) 149.17 (728.34) 104.05 336.09 (19.87) (34.69) (15.13)
Cash, $m
Cash, $m Operating cash flow (61) (66) (8) 42 25 111 50 (32) 24 (10)
Capex (9) (6) (3) (20) (32) (24) (43) (52) (66) (20)
Free cash flow (70) (72) (11) 22 (8) 88 8 (83) (41) (30)
Balance, $m
Balance, $m Working capital 61 28 122 177 533 680 685 553 477 375
Total debt 79 77 — 14 203 281 283 285 308 310
Net debt 23 62 (129) (162) (282) (342) (334) (183) (130) 17
Shareholders’ equity (6) (29) 131 195 366 433 440 314 263 155
Returns, %
Returns, % ROA (70.38) (70.31) (81.30) (9.30) (6.60) 1.92 (9.66) (22.20) (10.00) (22.15)
ROIC (278.83) (118.44) (1,240.85) (32.14) (5.90) 15.60 (54.60) (111.48) (46.57) (67.83)
ROE (290.04) 416.44 (240.11) (15.17) (12.25) 3.89 (21.67) (59.08) (33.30) (97.88)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
BVS Bioventus Inc. $1.2B 16.4× 21.4× +3.76% (above 0%: growing) +345.45% (above 0%: growing) −25.11% (below 0%: shrinking) 68.97% 12.48% Compare
TNDM Tandem Diabetes Care, Inc. $1.2B — (loss-making) — (loss-making) +5.77% (above 0%: growing) n/m −146.34% (below 0%: shrinking) 56.87% (5.42%)
IRMD iRadimed Corporation $1.1B 48.5× 48.7× +0.28% (above 0%: growing) −8.89% (below 0%: shrinking) +11.66% (above 0%: growing) 74.07% 31.23% Compare
ENOV Enovis Corporation $1.1B — (loss-making) 195× +3.23% (above 0%: growing) n/m +815.79% (above 0%: growing) 61.64% 2.99% Compare
AORT Artivion, Inc. $1.1B — (loss-making) 142× +11.32% (above 0%: growing) n/m −202.47% (below 0%: shrinking) 64.03% (6.65%) Compare
CBLL CeriBell, Inc. $1.1B — (loss-making) — (loss-making) +32.54% (above 0%: growing) n/m −68.63% (below 0%: shrinking) 92.32% (71.11%) Compare
IART Integra LifeSciences Holdings Corporation $1.1B — (loss-making) 26.1× +0.76% (above 0%: growing) n/m +193.48% (above 0%: growing) 52.47% 4.61% Compare
LMRI Lumexa Imaging Holdings, Inc. $1.0B — (loss-making) 14.2× +7.82% (above 0%: growing) n/m +257.54% (above 0%: growing) 14.72% 8.72% Compare
PRCT PROCEPT BioRobotics Corporation $1.0B — (loss-making) — (loss-making) +19.34% (above 0%: growing) n/m −24.43% (below 0%: shrinking) 66.01% (28.98%) Compare
Median of peers $1.1B — 37.4× +5.79% — −6.38% 65.02% 3.80%

All 149 Medical Devices stocks →

Tandem Diabetes Care, Inc. (TNDM) key facts

  • Concern: Tandem Diabetes Care, Inc. reported a net loss of $204.7 million, or a loss of $3.04 per share, for fiscal 2025.
  • Strength: Tandem Diabetes Care, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 7.93% from fiscal 2024.
  • Tandem Diabetes Care, Inc. (TNDM) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, TNDM traded at $16.17, a market capitalization of $1.2 billion.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 1.1× sales.
  • Return on equity was −97.9% and debt-to-equity 4.62.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 0.19 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Tandem Diabetes Care, Inc. (TNDM) Latest News

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stockrow.com/TNDM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com