Tactile Systems Technology, Inc. (TCMD) 10-Year Financial Performance & Capital Metrics

TCMD • • Industrial / General

HealthcareMedical DevicesRespiratory & Pulmonary DevicesLymphedema & Compression Therapy

AboutTactile Systems Technology, Inc., a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device for the treatment of lymphedema; Entre system, a portable pneumatic compression device that is used for the at-home treatment of venous disorders, such as lymphedema and chronic venous insufficiency, including venous leg ulcers; and AffloVest, a portable high frequency chest wall oscillation test for the treatment of retained pulmonary secretions such as bronchiectasis, cystic fibrosis, and various neuromuscular disorders. The company was incorporated in 1995 and is headquartered in Minneapolis, Minnesota.Show more

Revenue $293M +6.8%
EBITDA $29M +18.1%
Net Income $17M -40.5%
EPS (Diluted) 0.70 -43.1%
Gross Margin 73.96% +4.0%
EBITDA Margin 9.89% +10.6%
Operating Margin 7.57% +15.2%
Net Margin 5.79% -44.3%
ROE 8.27% -54.3%
ROIC 9.5% +24.5%
Debt/Equity 0.21 -19.9%
Interest Coverage 10.64 +144.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 95 (top 5%)
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.0%
✗Thin 5Y average net margin of 0.6%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.89%

5Y9.11%

3Y12.09%

TTM9.28%

Profit (Net Income) CAGR

10Y23.41%

5Y9.1%

3Y-

TTM17.62%

EPS CAGR

10Y58.49%

5Y4.56%

3Y-

TTM18.46%

ROCE

10Y Avg4.91%

5Y Avg1.46%

3Y Avg3.64%

Latest8.92%

Peer Comparison

Lymphedema & Compression Therapy

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCMDTactile Systems Technology, Inc.	681.01M	30.49	43.56	6.76%	5.83%	8.86%	5.6%	0.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	62.87M	84.54M	109.28M	143.75M	189.49M	187.13M	208.06M	246.78M	274.42M	292.98M
Revenue Growth %	0.32%	0.34%	0.29%	0.32%	0.32%	-0.01%	0.11%	0.19%	0.11%	0.07%
Cost of Goods Sold+	16.91M	22.94M	29.02M	41.49M	55.26M	54.32M	59.84M	70.81M	79.29M	76.3M
COGS % of Revenue	0.27%	0.27%	0.27%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.26%
Gross Profit+	45.96M	61.6M	80.27M	102.26M	134.24M	132.81M	148.21M	175.98M	195.13M	216.69M
Gross Margin %	0.73%	0.73%	0.73%	0.71%	0.71%	0.71%	0.71%	0.71%	0.71%	0.74%
Gross Profit Growth %	0.31%	0.34%	0.3%	0.27%	0.31%	-0.01%	0.12%	0.19%	0.11%	0.11%
Operating Expenses+	42.51M	57.33M	76.37M	99.27M	123.74M	136.44M	149.97M	188.73M	177.09M	194.51M
OpEx % of Revenue	0.68%	0.68%	0.7%	0.69%	0.65%	0.73%	0.72%	0.76%	0.65%	0.66%
Selling, General & Admin	38.2M	52.85M	71.31M	93.98M	118.37M	130.98M	143.58M	167.21M	169.19M	183.14M
SG&A % of Revenue	0.61%	0.63%	0.65%	0.65%	0.62%	0.7%	0.69%	0.68%	0.62%	0.63%
Research & Development	4.31M	4.48M	5.06M	5.29M	5.17M	5.26M	5.66M	7.09M	7.82M	8.83M
R&D % of Revenue	0.07%	0.05%	0.05%	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	-194K	38K	292K	486K	194K	197K	739K	14.43M	76K	2.53M
Operating Income+	3.45M	4.27M	3.9M	2.99M	10.5M	-3.63M	-1.76M	-12.76M	18.04M	22.18M
Operating Margin %	0.05%	0.05%	0.04%	0.02%	0.06%	-0.02%	-0.01%	-0.05%	0.07%	0.08%
Operating Income Growth %	-0.09%	0.24%	-0.09%	-0.23%	2.51%	-1.35%	0.51%	-6.24%	2.41%	0.23%
EBITDA+	4.28M	5.07M	5.75M	6.63M	14.04M	-834K	1.92M	1.67M	24.54M	28.98M
EBITDA Margin %	0.07%	0.06%	0.05%	0.05%	0.07%	-0%	0.01%	0.01%	0.09%	0.1%
EBITDA Growth %	-0.05%	0.19%	0.13%	0.15%	1.12%	-1.06%	3.3%	-0.13%	13.66%	0.18%
D&A (Non-Cash Add-back)	827K	799K	1.85M	3.63M	3.54M	2.79M	3.68M	14.43M	6.5M	6.8M
EBIT	3.45M	4.31M	4.19M	3.48M	10.5M	-3.63M	-1.76M	-12.69M	19.92M	25.57M
Net Interest Income+	0	0	0	0	0	0	0	-2.73M	-2.27M	1.3M
Interest Income	0	0	0	0	0	0	0	60K	1.87M	3.38M
Interest Expense	0	0	0	0	0	0	0	2.79M	4.15M	2.08M
Other Income/Expense	-194K	38K	292K	486K	631K	1.37M	-531K	-2.71M	-2.27M	1.31M
Pretax Income+	3.26M	4.31M	4.19M	3.48M	11.13M	-2.26M	-2.29M	-15.47M	15.77M	23.49M
Pretax Margin %	0.05%	0.05%	0.04%	0.02%	0.06%	-0.01%	-0.01%	-0.06%	0.06%	0.08%
Income Tax+	1.86M	1.43M	-1.67M	-3.15M	158K	-1.64M	9.52M	2.39M	-12.74M	6.53M
Effective Tax Rate %	0.43%	0.67%	1.4%	1.91%	0.99%	0.27%	5.15%	1.15%	1.81%	0.72%
Net Income+	1.39M	2.88M	5.86M	6.62M	10.97M	-620K	-11.81M	-17.87M	28.52M	16.96M
Net Margin %	0.02%	0.03%	0.05%	0.05%	0.06%	-0%	-0.06%	-0.07%	0.1%	0.06%
Net Income Growth %	-0.33%	1.07%	1.03%	0.13%	0.66%	-1.06%	-18.05%	-0.51%	2.6%	-0.41%
Net Income (Continuing)	1.39M	2.88M	5.86M	6.62M	10.97M	-620K	-11.81M	-17.87M	28.52M	16.96M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.03	0.17	0.31	0.34	0.56	-0.03	-0.60	-0.89	1.23	0.70
EPS Growth %	-	6.01%	0.82%	0.1%	0.65%	-1.05%	-19%	-0.48%	2.38%	-0.43%
EPS (Basic)	-0.03	0.18	0.34	0.34	0.58	-0.03	-0.60	-0.89	1.24	0.71
Diluted Shares Outstanding	13.35M	16.86M	18.88M	19.35M	19.64M	19.35M	19.72M	20.07M	23.18M	24.14M
Basic Shares Outstanding	13.35M	8.91M	17.36M	19.35M	18.92M	19.35M	19.72M	20.07M	22.93M	23.88M
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+	29.36M	64.23M	76.87M	84.96M	108.33M	123.61M	113.55M	119.76M	145.29M	177.56M
Cash & Short-Term Investments	7.06M	41.7M	43.91M	45.88M	53.38M	58.56M	40.71M	38.06M	75.23M	108.91M
Cash Only	7.06M	30.7M	23.97M	20.1M	22.77M	47.85M	28.23M	21.93M	61.03M	94.37M
Short-Term Investments	0	10.99M	19.94M	25.79M	30.61M	10.71M	12.48M	16.13M	14.2M	14.54M
Accounts Receivable	14.15M	15M	19.74M	26.13M	33.44M	43.85M	49.48M	54.83M	43.17M	44.94M
Days Sales Outstanding	82.15	64.77	65.94	66.33	64.42	85.53	86.8	81.09	57.42	55.98
Inventory	5.78M	6.55M	11.04M	11.19M	19.06M	18.56M	19.22M	23.12M	22.53M	18.67M
Days Inventory Outstanding	124.8	104.28	138.88	98.43	125.9	124.73	117.21	119.2	103.7	89.3
Other Current Assets	1.77M	981K	2.18M	1.76M	0	0	0	3.75M	4.37M	5.05M
Total Non-Current Assets+	7.61M	9.7M	11.57M	22.11M	43.42M	50.47M	130.72M	135.23M	136.14M	120.36M
Property, Plant & Equipment	1.35M	1.56M	3.78M	4.81M	23.29M	27.09M	30.73M	27.4M	25.32M	22.24M
Fixed Asset Turnover	46.71x	54.09x	28.94x	29.89x	8.14x	6.91x	6.77x	9.01x	10.84x	13.18x
Goodwill	0	0	0	0	0	0	31.06M	31.06M	31.06M	31.06M
Intangible Assets	2.49M	2.39M	2.22M	5.34M	5.31M	1.68M	54.08M	50.38M	46.72M	42.79M
Long-Term Investments	2.04M	2.82M	2.72M	1.88M	0	0	0	0	0	0
Other Non-Current Assets	1.34M	137K	201K	1.26M	5.84M	11.51M	14.85M	26.4M	13.66M	5.96M
Total Assets+	36.97M	73.94M	88.45M	107.07M	151.75M	174.09M	244.27M	255M	281.44M	297.92M
Asset Turnover	1.70x	1.14x	1.24x	1.34x	1.25x	1.07x	0.85x	0.97x	0.98x	0.98x
Asset Growth %	0.17%	1%	0.2%	0.21%	0.42%	0.15%	0.4%	0.04%	0.1%	0.06%
Total Current Liabilities+	9.5M	13.79M	14.52M	16.08M	21.43M	26.71M	34.46M	64.33M	41.06M	40.7M
Accounts Payable	3.34M	3.78M	4.25M	5.11M	3.84M	4.2M	5.02M	9.98M	6.66M	5.65M
Days Payables Outstanding	72.02	60.08	53.5	44.95	25.39	28.2	30.64	51.46	30.65	27.02
Short-Term Debt	991K	67K	17K	5K	0	0	2.96M	2.97M	2.96M	2.96M
Deferred Revenue (Current)	-991K	-67K	-17K	-5K	0	0	0	0	0	0
Other Current Liabilities	6.17M	8.78M	10.27M	10.97M	2.12M	3.45M	6.55M	20.2M	4.47M	3.15M
Current Ratio	3.09x	4.66x	5.29x	5.28x	5.06x	4.63x	3.29x	1.86x	3.54x	4.36x
Quick Ratio	2.48x	4.18x	4.53x	4.59x	4.17x	3.93x	2.74x	1.50x	2.99x	3.90x
Cash Conversion Cycle	134.93	108.97	151.32	119.81	164.93	182.06	173.37	148.82	130.47	118.26
Total Non-Current Liabilities+	193K	503K	1.14M	1.73M	17.73M	22.62M	81.58M	69.27M	46.74M	40.62M
Long-Term Debt	0	0	0	0	0	0	51.79M	45.9M	26.18M	23.22M
Capital Lease Obligations	0	0	0	0	15.13M	19.39M	23.35M	20.87M	18.44M	15.96M
Deferred Tax Liabilities	0	0	0	0	0	0	32K	0	0	0
Other Non-Current Liabilities	193K	503K	1.14M	1.73M	2.6M	3.23M	6.41M	2.5M	2.13M	1.45M
Total Liabilities	9.7M	14.3M	15.66M	17.8M	39.16M	49.34M	116.04M	133.6M	87.8M	81.33M
Total Debt+	991K	67K	17K	5K	16.59M	21.39M	80.61M	72.23M	50.38M	45.11M
Net Debt	-6.07M	-30.63M	-23.95M	-20.09M	-6.18M	-26.46M	52.38M	50.3M	-10.66M	-49.26M
Debt / Equity	0.04x	0.00x	0.00x	0.00x	0.15x	0.17x	0.63x	0.59x	0.26x	0.21x
Debt / EBITDA	0.23x	0.01x	0.00x	0.00x	1.18x	-	42.01x	43.15x	2.05x	1.56x
Net Debt / EBITDA	-1.42x	-6.04x	-4.17x	-3.03x	-0.44x	-	27.30x	30.05x	-0.43x	-1.70x
Interest Coverage	-	-	-	-	-	-	-	-4.58x	4.35x	10.64x
Total Equity+	27.28M	59.64M	72.79M	89.27M	112.59M	124.75M	128.23M	121.4M	193.64M	216.6M
Equity Growth %	0.11%	1.19%	0.22%	0.23%	0.26%	0.11%	0.03%	-0.05%	0.6%	0.12%
Book Value per Share	2.04	3.54	3.86	4.61	5.73	6.45	6.50	6.05	8.36	8.97
Total Shareholders' Equity	27.28M	59.64M	72.79M	89.27M	112.59M	124.75M	128.23M	121.4M	193.64M	216.6M
Common Stock	3K	17K	18K	19K	19K	19K	20K	20K	24K	24K
Retained Earnings	-5.65M	-2.77M	3.08M	9.71M	20.68M	20.06M	8.24M	-9.62M	18.89M	35.85M
Treasury Stock	0	0	-493K	0	0	0	0	0	0	0
Accumulated OCI	-2.15M	-11K	-44K	-8K	26K	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+	1.36M	7.03M	4.19M	9.01M	2.51M	2.79M	2.63M	5.21M	35.85M	40.66M
Operating CF Margin %	0.02%	0.08%	0.04%	0.06%	0.01%	0.01%	0.01%	0.02%	0.13%	0.14%
Operating CF Growth %	2.37%	4.18%	-0.4%	1.15%	-0.72%	0.11%	-0.06%	0.98%	5.88%	0.13%
Net Income	1.39M	2.88M	5.86M	6.62M	10.97M	-620K	-11.81M	-17.87M	28.52M	16.96M
Depreciation & Amortization	827K	799K	1.85M	3.63M	3.54M	2.79M	3.7M	6.27M	6.5M	6.8M
Stock-Based Compensation	316K	1.89M	4.24M	7.97M	9.82M	10.69M	10.17M	9.6M	7.55M	7.82M
Deferred Taxes	852K	-611K	143K	-6.18M	-146K	-1.23M	10.23M	-32K	-19.38M	1.07M
Other Non-Cash Items	94K	568K	301K	2.54M	848K	3.92M	-199K	11.87M	-2.43M	300K
Working Capital Changes	-2.12M	1.51M	-8.19M	-5.58M	-22.52M	-12.76M	-9.46M	-4.63M	15.1M	7.71M
Change in Receivables	-1.25M	-2.2M	-3.59M	-5.88M	-11.41M	-15.65M	-9.04M	-15.56M	23.78M	9.17M
Change in Inventory	-2.26M	-773K	-4.49M	-870K	-7.87M	318K	972K	-3.91M	597K	3.86M
Change in Payables	829K	1.74M	462K	690K	-1.39M	337K	826K	4.96M	-3.85M	-1.09M
Cash from Investing+	-615K	-11.84M	-14.02M	-14.73M	-2.33M	20.18M	-82.18M	-1.91M	-2.48M	-2.5M
Capital Expenditures	-615K	-833K	-3.82M	-9.55M	-5.45M	-2.06M	-2.1M	-1.78M	-2.32M	-2.39M
CapEx % of Revenue	0.01%	0.01%	0.03%	0.07%	0.03%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-23K	-11.07M	-71K	-5.85M	-542K	-262K	-252K	-129K	-157K	-105K
Cash from Financing+	901K	28.45M	3.09M	1.85M	2.5M	2.11M	59.93M	-9.6M	5.73M	-4.82M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-8.21M	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	3.58M	1.85M	2.5M	2.11M	4.93M	-3.6M	-9.14M	1.68M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	743K	6.2M	372K	-539K	-3.48M	503K	276K	3.29M	33.37M	38.15M
FCF Margin %	0.01%	0.07%	0%	-0%	-0.02%	0%	0%	0.01%	0.12%	0.13%
FCF Growth %	1.55%	7.34%	-0.94%	-2.45%	-5.45%	1.14%	-0.45%	10.92%	9.15%	0.14%
FCF per Share	0.06	0.37	0.02	-0.03	-0.18	0.03	0.01	0.16	1.44	1.58
FCF Conversion (FCF/Net Income)	0.97x	2.44x	0.72x	1.36x	0.23x	-4.51x	-0.22x	-0.29x	1.26x	2.40x
Interest Paid	1K	0	0	-9K	0	0	130K	2.19M	4.56M	2.11M
Taxes Paid	240K	2.16M	923K	-2.88M	344K	543K	1.59M	44K	5.82M	6.85M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.36%	6.62%	8.84%	8.17%	10.87%	-0.52%	-9.34%	-14.31%	18.1%	8.27%
Return on Invested Capital (ROIC)	12.79%	12.76%	7.51%	3.8%	8.97%	-2.66%	-0.95%	-5.43%	7.63%	9.5%
Gross Margin	73.11%	72.87%	73.45%	71.14%	70.84%	70.97%	71.24%	71.31%	71.11%	73.96%
Net Margin	2.22%	3.41%	5.36%	4.61%	5.79%	-0.33%	-5.68%	-7.24%	10.39%	5.79%
Debt / Equity	0.04x	0.00x	0.00x	0.00x	0.15x	0.17x	0.63x	0.59x	0.26x	0.21x
Interest Coverage	-	-	-	-	-	-	-	-4.58x	4.35x	10.64x
FCF Conversion	0.97x	2.44x	0.72x	1.36x	0.23x	-4.51x	-0.22x	-0.29x	1.26x	2.40x
Revenue Growth	31.71%	34.47%	29.26%	31.54%	31.82%	-1.25%	11.18%	18.61%	11.2%	6.76%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Sales revenue	-	-	-	177.91M	211.34M	239.49M	256.01M
Sales revenue Growth	-	-	-	-	18.79%	13.32%	6.90%
Rental revenue	-	-	-	30.14M	35.44M	34.93M	36.97M
Rental revenue Growth	-	-	-	-	17.57%	-1.44%	5.85%
Flexitouch system	-	-	-	176.23M	-	-	-
Flexitouch system Growth	-	-	-	-	-	-	-
Entre system	-	-	-	26.68M	-	-	-
Entre system Growth	-	-	-	-	-	-	-
AffloVest	-	-	-	5.14M	-	-	-
AffloVest Growth	-	-	-	-	-	-	-
Flexitouch System	131.94M	171.32M	163.91M	-	-	-	-
Flexitouch System Growth	-	29.85%	-4.32%	-	-	-	-
Product	-	162.9M	161.5M	-	-	-	-
Product Growth	-	-	-0.86%	-	-	-	-
Rental Product Service	13.6M	26.59M	25.63M	-	-	-	-
Rental Product Service Growth	-	95.50%	-3.59%	-	-	-	-
Product And Service Other	-	-	23.22M	-	-	-	-
Product And Service Other Growth	-	-	-	-	-	-	-
Entre Actitouch Systems	11.82M	18.17M	-	-	-	-	-
Entre Actitouch Systems Growth	-	53.77%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Tactile Systems Technology, Inc. (TCMD) has a price-to-earnings (P/E) ratio of 43.6x. This suggests investors expect higher future growth.

Growth & Financials

Tactile Systems Technology, Inc. (TCMD) reported $311.5M in revenue for fiscal year 2024. This represents a 738% increase from $37.2M in 2013.

Tactile Systems Technology, Inc. (TCMD) grew revenue by 6.8% over the past year. This is steady growth.

Yes, Tactile Systems Technology, Inc. (TCMD) is profitable, generating $18.2M in net income for fiscal year 2024 (5.8% net margin).

Dividend & Returns

Tactile Systems Technology, Inc. (TCMD) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Tactile Systems Technology, Inc. (TCMD) generated $39.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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