MiMedx Group, Inc. (MDXG) 10-Year Financial Performance & Capital Metrics

MDXG • • Industrial / General

HealthcareBiotechnologyPlatform & Technology CompaniesDiagnostics & Immune Monitoring

AboutMiMedx Group, Inc. develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue's inherent biological properties and regulatory proteins. The company's patented and proprietary processing method employs aseptic processing techniques in addition to terminal sterilization. Its products include EpiFix, a semi-permeable protective barrier membrane product used for the treatment of chronic wounds, including diabetic foot ulcers, venous leg ulcers, and pressure ulcers; AmnioFix, a semi-permeable protective barrier allograft, which comprises dehydrated human amnion/chorion membrane for use in surgical recovery applications; EpiCord and AmnioCord are dehydrated human umbilical cord allografts that are used to provide a protective environment for the healing process, as well as used in the advanced wound care and surgical recovery applications; and AMNIOBURN a semi-permeable protective barrier allograft used in the treatment of partial-thickness and full-thickness burns, as well as lead product includes mdHACM, a micronized form of AMNIOFIX, supplied in powder form. The company's products have applications primarily in the areas of wound care, burn, surgical, and non-operative sports medicine sectors of healthcare. It also sells allografts for dental applications on an original equipment manufacturer basis. The company sells its products through direct sales force and independent sales agents, as well as through independent distributors primarily in the United States. MiMedx Group, Inc. is headquartered in Marietta, Georgia.Show more

Revenue $349M +8.5%
EBITDA $65M +60.1%
Net Income $42M -37.1%
EPS (Diluted) 0.28 -26.3%
Gross Margin 82.78% -0.3%
EBITDA Margin 18.6% +47.5%
Operating Margin 16.87% +46.1%
Net Margin 12.16% -42.0%
ROE 25.26% -59.3%
ROIC 39.71% +21.1%
Debt/Equity 0.13 -61.8%
Interest Coverage 58.51 +918.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 18.5% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 17.1%
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.43%

5Y3.12%

3Y12.96%

TTM14.77%

Profit (Net Income) CAGR

10Y21.16%

5Y-

3Y-

TTM-53.85%

EPS CAGR

10Y18.8%

5Y-

3Y-

TTM-53.23%

ROCE

10Y Avg3.2%

5Y Avg-0.26%

3Y Avg13.66%

Latest28.62%

Peer Comparison

Diagnostics & Immune Monitoring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TECHBio-Techne Corporation	10.9B	69.96	152.09	5.23%	6.41%	3.97%	2.35%	0.23
SPRYARS Pharmaceuticals, Inc.	1.1B	11.09	142.00	2970.63%	-56.06%	-54.21%	1.18%	0.00
VCYTVeracyte, Inc.	3.24B	41.00	132.26	23.46%	6.12%	2.41%	1.97%	0.04
CSBRChampions Oncology, Inc.	99.56M	7.17	21.73	13.54%	4.32%	59.65%	7.03%	1.62
MDXGMiMedx Group, Inc.	851.59M	5.75	20.54	8.52%	10.38%	17.09%	7.58%	0.13
LTRNLantern Pharma Inc.	39.26M	3.51	-0.00			-197.36%		0.01
SEERSeer, Inc.	107.44M	1.91	-1.37	-8.13%	-486.02%	-29.19%		0.08
IMDXInsight Molecular Diagnostics Inc.	189.76M	6.62	-1.42	25.15%	-13.81%	-14.81%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	187.3M	245.01M	321.14M	359.11M	299.25M	248.23M	242.02M	267.84M	321.48M	348.88M
Revenue Growth %	0.58%	0.31%	0.31%	0.12%	-0.17%	-0.17%	-0.03%	0.11%	0.2%	0.09%
Cost of Goods Sold+	20.2M	32.41M	35.22M	36.39M	43.08M	39.33M	39.63M	48.32M	54.63M	60.07M
COGS % of Revenue	0.11%	0.13%	0.11%	0.1%	0.14%	0.16%	0.16%	0.18%	0.17%	0.17%
Gross Profit+	167.09M	212.61M	285.92M	322.73M	256.17M	208.9M	202.39M	219.53M	266.84M	288.81M
Gross Margin %	0.89%	0.87%	0.89%	0.9%	0.86%	0.84%	0.84%	0.82%	0.83%	0.83%
Gross Profit Growth %	0.58%	0.27%	0.34%	0.13%	-0.21%	-0.18%	-0.03%	0.08%	0.22%	0.08%
Operating Expenses+	142.73M	191.38M	239.7M	326.65M	277.33M	254.3M	209.44M	234.25M	229.73M	229.94M
OpEx % of Revenue	0.76%	0.78%	0.75%	0.91%	0.93%	1.02%	0.87%	0.87%	0.71%	0.66%
Selling, General & Admin	133.38M	172.32M	219.53M	295.25M	264.71M	240.49M	194.85M	220.85M	216.3M	216.39M
SG&A % of Revenue	0.71%	0.7%	0.68%	0.82%	0.88%	0.97%	0.81%	0.82%	0.67%	0.62%
Research & Development	8.41M	14.34M	17.9M	15.77M	11.14M	11.71M	9.93M	12.7M	12.66M	12.34M
R&D % of Revenue	0.04%	0.06%	0.06%	0.04%	0.04%	0.05%	0.04%	0.05%	0.04%	0.04%
Other Operating Expenses	933K	4.71M	2.27M	15.63M	1.49M	2.1M	4.66M	701K	762K	1.21M
Operating Income+	24.36M	884K	46.22M	-3.92M	-21.16M	-45.4M	-7.05M	-14.73M	37.12M	58.87M
Operating Margin %	0.13%	0%	0.14%	-0.01%	-0.07%	-0.18%	-0.03%	-0.05%	0.12%	0.17%
Operating Income Growth %	2.43%	-0.96%	51.29%	-1.08%	-4.39%	-1.15%	0.84%	-1.09%	3.52%	0.59%
EBITDA+	27.1M	6.35M	51.99M	2.99M	-13.57M	-38.54M	-1.87M	-10.68M	40.54M	64.91M
EBITDA Margin %	0.14%	0.03%	0.16%	0.01%	-0.05%	-0.16%	-0.01%	-0.04%	0.13%	0.19%
EBITDA Growth %	1.94%	-0.77%	7.18%	-0.94%	-5.54%	-1.84%	0.95%	-4.72%	4.8%	0.6%
D&A (Non-Cash Add-back)	2.73M	5.47M	5.76M	6.92M	7.58M	6.86M	5.18M	4.05M	3.43M	6.04M
EBIT	24.36M	3.46M	46.81M	10.68M	-20.71M	-44.37M	-7.07M	-14.73M	37.12M	59.31M
Net Interest Income+	-86K	-339K	-87K	527K	-4.71M	-7.94M	-4.98M	-5.02M	-6.46M	-1.01M
Interest Income	0	0	0	527K	0	0	0	0	0	0
Interest Expense	86K	339K	87K	0	4.71M	7.94M	4.98M	5.02M	6.46M	1.01M
Other Income/Expense	-86K	-339K	-1.14M	527K	-4.42M	-16.14M	-5M	-5.02M	-6.48M	-1.57M
Pretax Income+	24.28M	545K	45.09M	-3.4M	-25.59M	-61.54M	-12.05M	-19.75M	30.63M	57.29M
Pretax Margin %	0.13%	0%	0.14%	-0.01%	-0.09%	-0.25%	-0.05%	-0.07%	0.1%	0.16%
Income Tax+	-5.17M	6.13M	-19.64M	26.58M	-5K	-12.26M	247K	206K	-36.81M	15.3M
Effective Tax Rate %	1.21%	21.97%	1.44%	8.83%	1%	0.8%	1.02%	1.53%	2.2%	0.74%
Net Income+	29.45M	11.97M	64.73M	-29.98M	-25.58M	-49.28M	-12.3M	-30.2M	67.44M	42.42M
Net Margin %	0.16%	0.05%	0.2%	-0.08%	-0.09%	-0.2%	-0.05%	-0.11%	0.21%	0.12%
Net Income Growth %	3.73%	-0.59%	4.41%	-1.46%	0.15%	-0.93%	0.75%	-1.45%	3.23%	-0.37%
Net Income (Continuing)	29.45M	390K	64.73M	-29.98M	-25.58M	-49.28M	-12.3M	-19.95M	67.44M	42M
Discontinued Operations	0	0	0	0	0	0	0	-10.24M	0	421K
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.26	0.00	0.56	-0.28	-0.24	-0.46	-0.09	-0.27	0.38	0.28
EPS Growth %	4.2%	-0.99%	-	-1.5%	0.14%	-0.92%	0.8%	-1.9%	2.41%	-0.26%
EPS (Basic)	0.28	0.00	0.61	-0.28	-0.24	-0.46	-0.09	-0.27	0.48	0.29
Diluted Shares Outstanding	113.63M	112.65M	116.11M	105.6M	106.95M	108.26M	110.35M	112.91M	145.96M	149.05M
Basic Shares Outstanding	105.93M	105.93M	106.12M	105.6M	106.95M	108.26M	110.35M	112.91M	116.5M	146.98M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	96.31M	126.54M	48.75M	74.05M	123.25M	160.62M	148.52M	134.2M	164.26M	191.89M
Cash & Short-Term Investments	31.49M	34.39M	27.48M	45.12M	69.07M	95.81M	87.08M	65.95M	82M	104.42M
Cash Only	28.49M	34.39M	27.48M	45.12M	69.07M	95.81M	87.08M	65.95M	82M	104.42M
Short-Term Investments	3M	0	0	0	0	0	0	0	0	0
Accounts Receivable	53.76M	67.15M	656K	454K	32.33M	35.42M	40.35M	43.08M	53.87M	55.83M
Days Sales Outstanding	104.76	100.04	0.75	0.46	39.43	52.09	60.86	58.71	61.16	58.41
Inventory	7.46M	17.81M	9.47M	15.99M	9.1M	10.36M	11.39M	13.18M	21.02M	23.81M
Days Inventory Outstanding	134.78	200.64	98.11	160.36	77.13	96.15	104.9	99.59	140.44	144.65
Other Current Assets	3.61M	1.29M	9.02M	5.82M	6.08M	13.42M	3.55M	4.67M	1.75M	2.82M
Total Non-Current Assets+	39.6M	66.72M	72.51M	48.8M	43.92M	41.41M	39.41M	37.23M	74.79M	72.03M
Property, Plant & Equipment	9.47M	13.79M	14.09M	17.42M	15.72M	15.06M	13.86M	11.26M	9.11M	11.55M
Fixed Asset Turnover	19.77x	17.77x	22.79x	20.61x	19.03x	16.48x	17.46x	23.80x	35.30x	30.21x
Goodwill	4.04M	20.2M	19.98M	19.98M	19.98M	19.98M	19.98M	19.44M	19.44M	19.44M
Intangible Assets	10.76M	23.27M	10.03M	9.61M	7.78M	6M	5.38M	5.85M	5.26M	11.63M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	487K	354K	2.87M	1.79M	443K	375K	186K	683K	205K	1.11M
Total Assets+	135.91M	193.26M	121.25M	122.84M	167.17M	202.03M	187.93M	171.43M	239.05M	263.92M
Asset Turnover	1.38x	1.27x	2.65x	2.92x	1.79x	1.23x	1.29x	1.56x	1.34x	1.32x
Asset Growth %	0.24%	0.42%	-0.37%	0.01%	0.36%	0.21%	-0.07%	-0.09%	0.39%	0.1%
Total Current Liabilities+	26.78M	50.73M	45.81M	71.55M	67.32M	59.16M	42.36M	43.56M	46.01M	45.59M
Accounts Payable	6.63M	11.44M	8.45M	14.86M	8.71M	8.77M	7.38M	8.45M	9.05M	7.41M
Days Payables Outstanding	119.84	128.8	87.61	149.11	73.79	81.34	68.02	63.87	60.45	45.02
Short-Term Debt	0	0	0	0	3.75M	0	0	1.44M	0	1M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	466K	15.99M	13.26M	29.77M	27.84M	25.78M	3.91M	12.81M	14.61M	25.45M
Current Ratio	3.60x	2.49x	1.06x	1.03x	1.83x	2.71x	3.51x	3.08x	3.57x	4.21x
Quick Ratio	3.32x	2.14x	0.86x	0.81x	1.70x	2.54x	3.24x	2.78x	3.11x	3.69x
Cash Conversion Cycle	119.7	171.87	11.24	11.72	42.77	66.9	97.74	94.44	141.15	158.04
Total Non-Current Liabilities+	1.15M	9.53M	1.65M	1.64M	65.45M	51.45M	53M	53.37M	50.32M	25.21M
Long-Term Debt	0	0	0	0	61.91M	47.7M	48.13M	48.59M	48.1M	17.83M
Capital Lease Obligations	0	0	0	0	2.92M	2.96M	3.92M	2.44M	0	4.71M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.15M	9.53M	1.65M	1.64M	621K	795K	951K	2.33M	2.22M	2.68M
Total Liabilities	27.93M	60.26M	47.46M	73.19M	132.77M	110.61M	95.35M	96.92M	96.33M	70.81M
Total Debt+	133K	31K	286K	229K	69.74M	51.83M	53.29M	52.47M	48.1M	24.84M
Net Debt	-28.35M	-34.36M	-27.19M	-44.89M	674K	-43.98M	-33.79M	-13.48M	-33.9M	-79.57M
Debt / Equity	0.00x	0.00x	0.00x	0.00x	2.03x	0.57x	0.58x	0.70x	0.34x	0.13x
Debt / EBITDA	0.00x	0.00x	0.01x	0.08x	-	-	-	-	1.19x	0.38x
Net Debt / EBITDA	-1.05x	-5.41x	-0.52x	-15.00x	-	-	-	-	-0.84x	-1.23x
Interest Coverage	283.30x	2.61x	531.30x	-	-4.49x	-5.72x	-1.42x	-2.94x	5.75x	58.51x
Total Equity+	107.99M	133M	73.8M	49.66M	34.4M	91.42M	92.58M	74.51M	142.72M	193.11M
Equity Growth %	0.21%	0.23%	-0.45%	-0.33%	-0.31%	1.66%	0.01%	-0.2%	0.92%	0.35%
Book Value per Share	0.95	1.18	0.64	0.47	0.32	0.84	0.84	0.66	0.98	1.30
Total Shareholders' Equity	107.99M	133M	73.8M	49.66M	34.4M	91.42M	92.58M	74.51M	142.72M	193.11M
Common Stock	109K	110K	113K	113K	113K	113K	113K	114K	146K	147K
Retained Earnings	-38.13M	-26.16M	-46.58M	-76.56M	-102.14M	-151.42M	-161.71M	-191.91M	-133.68M	-91.26M
Treasury Stock	-17.13M	-2.22M	-44.38M	-38.64M	-10.81M	-7.45M	-4.02M	0	0	0
Accumulated OCI	-4.98M	-8.51M	-12.68M	-18.59M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	18.81M	25.83M	62.94M	35.8M	-39.41M	-30.26M	-1.98M	-17.89M	26.77M	66.2M
Operating CF Margin %	0.1%	0.11%	0.2%	0.1%	-0.13%	-0.12%	-0.01%	-0.07%	0.08%	0.19%
Operating CF Growth %	0.12%	0.37%	1.44%	-0.43%	-2.1%	0.23%	0.93%	-8.03%	2.5%	1.47%
Net Income	29.45M	11.97M	64.73M	-29.98M	-25.58M	-49.28M	-12.3M	-19.95M	67.44M	42M
Depreciation & Amortization	2.73M	5.46M	5.76M	6.92M	7.58M	6.86M	5.18M	4.05M	3.43M	6.04M
Stock-Based Compensation	16.9M	17.82M	21.2M	14.77M	12.06M	15.36M	14.16M	0	0	16.93M
Deferred Taxes	-7.08M	-594K	-26.67M	25.54M	1.58M	0	0	0	-37.8M	12.47M
Other Non-Cash Items	42K	1.67M	-1.55M	-53K	-15M	12.5M	10.33M	6.03M	12.13M	-5.81M
Working Capital Changes	-23.23M	-10.5M	-523K	18.6M	-20.05M	-15.69M	-19.35M	-8.01M	-18.42M	-5.43M
Change in Receivables	-27.08M	-11.4M	-479K	16.45M	-10.94M	-3.1M	-10.62M	-5.94M	-12.24M	-2.55M
Change in Inventory	-2.33M	-2.84M	2.75M	-6.52M	6.88M	-1.26M	-1.41M	-1.79M	-7.84M	-2.36M
Change in Payables	3.14M	-3.67M	-1.32M	6.58M	-6.17M	177K	-159K	839K	783K	-1.41M
Cash from Investing+	-678K	-11.74M	-5.4M	-9.22M	504K	-4.55M	-3.4M	-2.66M	-2.15M	-9.58M
Capital Expenditures	-6.68M	-7.11M	-5.4M	-10.03M	-2.22M	-4.23M	-3.22M	-2.68M	-2.15M	-1.72M
CapEx % of Revenue	0.04%	0.03%	0.02%	0.03%	0.01%	0.02%	0.01%	0.01%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.15M	-842K	-271K	808K	2.72M	-327K	-177K	0	0	0
Cash from Financing+	-36.23M	-8.18M	-60.39M	-8.93M	62.86M	61.56M	-3.35M	-580K	-8.57M	-34.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	4.17M	3.49M	11.99M	3.56M	-6.54M	-10.29M	1.44M	0	0	159K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	12.13M	18.72M	57.54M	25.77M	-41.63M	-34.49M	-5.2M	-19.41M	24.79M	64.52M
FCF Margin %	0.06%	0.08%	0.18%	0.07%	-0.14%	-0.14%	-0.02%	-0.07%	0.08%	0.18%
FCF Growth %	-0.11%	0.54%	2.07%	-0.55%	-2.62%	0.17%	0.85%	-2.73%	2.28%	1.6%
FCF per Share	0.11	0.17	0.50	0.24	-0.39	-0.32	-0.05	-0.17	0.17	0.43
FCF Conversion (FCF/Net Income)	0.64x	2.16x	0.97x	-1.19x	1.54x	0.61x	0.16x	0.59x	0.40x	1.56x
Interest Paid	0	0	0	0	0	7.46M	4.33M	0	0	2.7M
Taxes Paid	0	0	0	0	0	208K	169K	0	0	3.25M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	29.85%	9.94%	62.6%	-48.57%	-60.87%	-78.34%	-13.37%	-36.15%	62.09%	25.26%
Return on Invested Capital (ROIC)	29.86%	0.74%	47.74%	-11.46%	-79.67%	-82.53%	-9.96%	-18.44%	32.78%	39.71%
Gross Margin	89.21%	86.77%	89.03%	89.87%	85.6%	84.16%	83.63%	81.96%	83.01%	82.78%
Net Margin	15.72%	4.89%	20.16%	-8.35%	-8.55%	-19.85%	-5.08%	-11.27%	20.98%	12.16%
Debt / Equity	0.00x	0.00x	0.00x	0.00x	2.03x	0.57x	0.58x	0.70x	0.34x	0.13x
Interest Coverage	283.30x	2.61x	531.30x	-	-4.49x	-5.72x	-1.42x	-2.94x	5.75x	58.51x
FCF Conversion	0.64x	2.16x	0.97x	-1.19x	1.54x	0.61x	0.16x	0.59x	0.40x	1.56x
Revenue Growth	58.43%	30.82%	31.07%	11.82%	-16.67%	-17.05%	-2.5%	10.67%	20.03%	8.52%

Revenue by Segment

	2016	2021	2022	2024
Surgical	-	-	-	117.88M
Surgical Growth	-	-	-	-
Health Care	-	240.02M	265.2M	-
Health Care Growth	-	-	10.49%	-
Advanced Wound Care, Tissue And Other	-	216.42M	241.99M	-
Advanced Wound Care, Tissue And Other Growth	-	-	11.82%	-
Advanced Wound Care, Umbilical Cord-Derived	-	23.6M	23.21M	-
Advanced Wound Care, Umbilical Cord-Derived Growth	-	-	-1.65%	-
Section 351	-	17.6M	2.38M	-
Section 351 Growth	-	-	-86.48%	-
Product and Service, Other	-	988K	259K	-
Product and Service, Other Growth	-	-	-73.79%	-
Wound Care	183.98M	-	-	-
Wound Care Growth	-	-	-	-
Surgical, Sports Medicine & Orthopedics (SSO)	61.03M	-	-	-
Surgical, Sports Medicine & Orthopedics (SSO) Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

MiMedx Group, Inc. (MDXG) has a price-to-earnings (P/E) ratio of 20.5x. This is roughly in line with market averages.

Growth & Financials

MiMedx Group, Inc. (MDXG) reported $393.4M in revenue for fiscal year 2024. This represents a 4970% increase from $7.8M in 2011.

MiMedx Group, Inc. (MDXG) grew revenue by 8.5% over the past year. This is steady growth.

Yes, MiMedx Group, Inc. (MDXG) is profitable, generating $40.8M in net income for fiscal year 2024 (12.2% net margin).

Dividend & Returns

MiMedx Group, Inc. (MDXG) has a return on equity (ROE) of 25.3%. This is excellent, indicating efficient use of shareholder capital.

MiMedx Group, Inc. (MDXG) generated $63.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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