Latest Ratios: P/E Ratio 14.7x · EV/EBITDA 6.9x · ROE 21.6%. (2006–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $687M | $1.0B | $1.4B | $1.3B | $314M | $667M | $983M | $811M | $189M | $1.5B | $998M |
| Enterprise Value | $543M | $870M | $1.4B | $1.2B | $300M | $633M | $939M | $811M | $144M | $1.4B | $964M |
| P/E Ratio → | 14.72 | 21.16 | 34.36 | 23.08 | — | — | — | — | — | 22.52 | 2531.43 |
| P/S Ratio | 1.64 | 2.42 | 4.11 | 3.98 | 1.17 | 2.75 | 3.96 | 2.71 | 0.53 | 4.56 | 4.07 |
| P/B Ratio | 2.75 | 3.95 | 7.43 | 8.97 | 4.21 | 7.20 | 10.75 | 23.57 | 3.81 | 19.84 | 7.50 |
| P/FCF | 9.41 | 13.89 | 22.23 | 51.64 | — | — | — | — | 7.34 | 25.45 | 53.32 |
| P/OCF | 9.28 | 13.70 | 21.66 | 47.81 | — | — | — | — | 5.28 | 23.26 | 38.64 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.08 | 3.88 | 3.88 | 1.12 | 2.61 | 3.78 | 2.71 | 0.40 | 4.47 | 3.93 |
| EV / EBITDA | 6.89 | 11.05 | 20.87 | 30.74 | — | — | — | — | 48.17 | 27.64 | 151.67 |
| EV / EBIT | 8.50 | 12.79 | 22.83 | 33.60 | — | — | — | — | 13.50 | 30.70 | 278.76 |
| EV / FCF | — | 11.92 | 20.99 | 50.27 | — | — | — | — | 5.59 | 24.97 | 51.49 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.6% | 82.6% | 82.8% | 83.0% | 82.0% | 83.6% | 84.2% | 85.6% | 89.9% | 89.0% | 86.8% |
| Operating Margin | 15.3% | 15.3% | 16.9% | 11.5% | -5.5% | -2.9% | -18.3% | -7.1% | -1.1% | 14.4% | 0.4% |
| Net Profit Margin | 11.6% | 11.6% | 12.2% | 21.0% | -11.3% | -5.1% | -19.9% | -8.5% | -8.3% | 20.2% | 4.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.6% | 21.6% | 25.3% | 62.1% | -36.1% | -13.4% | -78.3% | -60.9% | -48.6% | 62.6% | 9.9% |
| ROA | 16.0% | 16.0% | 16.9% | 32.9% | -16.8% | -6.3% | -26.7% | -17.6% | -24.6% | 41.2% | 7.3% |
| ROIC | 42.3% | 42.3% | 39.7% | 32.8% | -18.4% | -10.0% | -82.5% | -79.7% | -11.5% | 47.7% | 0.7% |
| ROCE | 25.7% | 25.7% | 28.6% | 23.1% | -10.8% | -4.9% | -37.4% | -28.0% | -6.2% | 42.4% | 0.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.13 | 0.34 | 0.70 | 0.58 | 0.57 | 2.03 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | 0.29 | 0.29 | 0.38 | 1.19 | — | — | — | — | 0.08 | 0.01 | 0.00 |
| Net Debt / Equity | — | -0.56 | -0.41 | -0.24 | -0.18 | -0.36 | -0.48 | 0.02 | -0.90 | -0.37 | -0.26 |
| Net Debt / EBITDA | -1.82 | -1.82 | -1.23 | -0.84 | — | — | — | — | -15.00 | -0.52 | -5.41 |
| Debt / FCF | — | -1.97 | -1.23 | -1.37 | — | — | — | — | -1.74 | -0.47 | -1.84 |
| Interest Coverage | 38.16 | 38.16 | 58.96 | 5.74 | -2.94 | -1.42 | -5.59 | -4.40 | — | 538.08 | 10.20 |
Net cash position: cash ($166M) exceeds total debt ($23M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.32 | 4.32 | 4.21 | 3.57 | 3.08 | 3.51 | 2.71 | 1.83 | 1.03 | 1.06 | 2.49 |
| Quick Ratio | 3.92 | 3.92 | 3.69 | 3.11 | 2.78 | 3.24 | 2.54 | 1.70 | 0.81 | 0.86 | 2.14 |
| Cash Ratio | 2.58 | 2.58 | 2.29 | 1.78 | 1.51 | 2.06 | 1.62 | 1.03 | 0.63 | 0.60 | 0.68 |
| Asset Turnover | — | 1.22 | 1.32 | 1.34 | 1.56 | 1.29 | 1.23 | 1.79 | 2.92 | 2.65 | 1.27 |
| Inventory Turnover | 2.88 | 2.88 | 2.52 | 2.60 | 3.67 | 3.48 | 3.80 | 4.73 | 2.28 | 3.72 | 1.82 |
| Days Sales Outstanding | — | 66.01 | 58.41 | 61.16 | 58.71 | 60.86 | 52.09 | 39.43 | 0.46 | 0.75 | 100.04 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 4.7% | 2.9% | 4.3% | — | — | — | — | — | 4.4% | 0.0% |
| FCF Yield | 10.6% | 7.2% | 4.5% | 1.9% | — | — | — | — | 13.6% | 3.9% | 1.9% |
| Buyback Yield | 0.5% | 0.3% | 0.2% | 0.7% | 0.4% | 0.7% | 0.2% | 0.2% | 6.6% | 4.9% | 1.2% |
| Total Shareholder Yield | 0.5% | 0.3% | 0.2% | 0.7% | 0.4% | 0.7% | 0.2% | 0.2% | 6.6% | 4.9% | 1.2% |
| Shares Outstanding | — | $150M | $149M | $146M | $113M | $110M | $108M | $107M | $106M | $116M | $113M |
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying MDXG stock.
MiMedx Group, Inc.'s current P/E ratio is 14.7x. The historical average is 27.4x.
MiMedx Group, Inc.'s current EV/EBITDA is 6.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.5x.
MiMedx Group, Inc.'s return on equity (ROE) is 21.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -41.0%.
Based on historical data, MiMedx Group, Inc. is trading at a P/E of 14.7x. Compare with industry peers and growth rates for a complete picture.
MiMedx Group, Inc. has 82.6% gross margin and 15.3% operating margin. Operating margin between 10-20% is typical for established companies.
MiMedx Group, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Severe revenue contraction and margin collapse
Metrics are mathematically derived from official filings.
Valuation Disconnect from Operational Reality
MiMedx's P/E of 14.06 and EV/EBITDA of 6.50 appear attractive on a trailing basis, but these multiples are based on historical profitability that has completely evaporated, creating a significant valuation disconnect from current operational performance.
The current valuation multiples are anchored to the company's profitable quarters in 2025, not the severe losses incurred in 2026. With a forward P/E unavailable and trailing metrics based on fading earnings power, the market may be pricing in a recovery that is not yet visible in the financials. Investors should scrutinize whether the current multiples represent a value opportunity or a value trap, given the stark divergence between historical and current performance.
Gross Margin Erosion Exposes Fixed Cost Burden
Gross margins have collapsed from 83.9% in 2025Q4 to 69.0% in 2026Q2, a 1,490 basis point decline, which has exposed the severe operating leverage inherent in the cost structure as SG&A expenses now dwarf revenue.
The 69.0% gross margin in 2026Q2, while still high in absolute terms, is insufficient to cover the $59.8M in SG&A expenses, resulting in a -28.7% operating margin. This indicates that the business model requires a much higher revenue base to achieve profitability, and the current contraction has rendered the fixed cost structure unsustainable. The rapid deterioration suggests that pricing pressure or volume deleverage is overwhelming the company's cost controls.
Negative Returns Signal Capital Destruction
Return on Invested Capital has swung from a healthy 13.9% in 2025Q4 to a deeply negative -15.2% in 2026Q2, indicating that the company is now destroying value with each dollar of capital deployed.
The negative ROIC trend is a direct consequence of the operating losses, as the company's capital base is generating negative returns. This is a critical deterioration from the positive, albeit modest, returns seen throughout 2024 and 2025. The shift suggests that the company's assets are no longer productive in the current environment, and the trend will need to reverse for long-term value creation to resume.
Working Capital Cycle Lengthens Amid Contraction
The cash conversion cycle has expanded to 124 days in 2026Q2, driven by a sharp increase in days inventory outstanding to 107 days, suggesting potential inventory obsolescence or demand misalignment.
The lengthening CCC, particularly the surge in DIO from 125 days in 2025Q4 to 107 days in 2026Q2, is a red flag for a company experiencing severe revenue contraction. This could indicate that inventory is not moving as anticipated, tying up cash and increasing the risk of write-downs. The efficiency of the working capital cycle has deteriorated significantly, adding to the operational strain.
Fortress Liquidity Masks Operational Burn
A current ratio of 5.33 and $135.8M in cash provide a substantial liquidity buffer, but this strength is a product of prior capital raises and now serves to fund ongoing operational losses.
The company's liquidity position is exceptionally strong on paper, with cash representing over 2.1x total liabilities. However, this is a defensive posture, not a reflection of operational cash generation. The fortress balance sheet provides crucial runway, but investors should monitor the rate of cash burn, as the negative free cash flow margin of -16.7% in 2026Q2 indicates that this buffer is being actively consumed.
The Misleading Safety of the Current Ratio
The current ratio of 5.33 is the most commonly misapplied metric for MiMedx, as it creates a false impression of financial health by ignoring the severe operational cash burn and the fact that the liquidity is being funded by equity, not operations.
For a company with negative operating cash flow and a contracting revenue base, the current ratio is a poor indicator of financial health. It measures the ability to cover short-term liabilities with current assets, but it does not account for the ongoing consumption of those assets to fund losses. A more appropriate metric would be the cash runway, calculated by dividing the cash balance by the quarterly cash burn rate, which provides a clearer picture of how long the company can sustain operations without additional financing.