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TransMedics Group, Inc. (TMDX) 10-Year Financial Performance & Capital Metrics

TMDX • • Industrial / General
HealthcareMedical DevicesSurgical & Minimally Invasive DevicesOrgan Transplant Systems
AboutTransMedics Group, Inc., a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company offers Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body. Its Organ Care System includes OCS LUNG for the preservation of standard criteria donor lungs for double-lung transplantation; OCS Heart, a technology for extracorporeal perfusion and preservation of donor hearts; and OCS Liver for the preservation of donor livers. The company was founded in 1998 and is headquartered in Andover, Massachusetts.Show more
  • Revenue $442M +82.7%
  • EBITDA $57M +378.6%
  • Net Income $35M +241.7%
  • EPS (Diluted) 1.01 +231.2%
  • Gross Margin 59.36% -6.9%
  • EBITDA Margin 12.97% +252.5%
  • Operating Margin 8.49% +171.4%
  • Net Margin 8.03% +177.5%
  • ROE 19.39% +225.7%
  • ROIC 8.41% +160.9%
  • Debt/Equity 2.27 -39.7%
  • Interest Coverage 2.60 +197.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 79.6%

✗Weaknesses

  • ✗High debt to equity ratio of 2.3x
  • ✗Negative free cash flow
  • ✗Expensive at 21.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y79.64%
3Y144.36%
TTM41.2%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM181.16%

EPS CAGR

10Y-
5Y-
3Y-
TTM162.77%

ROCE

10Y Avg-32.99%
5Y Avg-14.5%
3Y Avg-6.07%
Latest5.37%

Peer Comparison

Organ Transplant Systems
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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TTM Growth
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Momentum & Returns
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TMDXTransMedics Group, Inc.4.85B141.96140.5582.74%16.2%25.83%2.27

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+6.21M7.68M13.02M23.6M25.64M30.26M93.46M241.62M441.54M
Revenue Growth %-0.24%0.69%0.81%0.09%0.18%2.09%1.59%0.83%
Cost of Goods Sold+5.44M5.55M7.28M9.74M9M9.1M28.19M87.53M179.46M
COGS % of Revenue0.88%0.72%0.56%0.41%0.35%0.3%0.3%0.36%0.41%
Gross Profit+766K2.14M5.73M13.86M16.64M21.16M65.27M154.09M262.08M
Gross Margin %0.12%0.28%0.44%0.59%0.65%0.7%0.7%0.64%0.59%
Gross Profit Growth %-1.79%1.68%1.42%0.2%0.27%2.08%1.36%0.7%
Operating Expenses+23.75M22.56M25.97M43.47M43.02M60.59M96.71M182.82M224.59M
OpEx % of Revenue3.83%2.94%2%1.84%1.68%2%1.03%0.76%0.51%
Selling, General & Admin8.12M7.61M12.31M23.6M24.19M38.28M69.9M119.55M168.62M
SG&A % of Revenue1.31%0.99%0.95%1%0.94%1.27%0.75%0.49%0.38%
Research & Development15.64M14.96M13.66M19.87M18.83M22.3M26.81M63.27M55.97M
R&D % of Revenue2.52%1.95%1.05%0.84%0.73%0.74%0.29%0.26%0.13%
Other Operating Expenses5K0-213K000000
Operating Income+-22.99M-20.43M-20.24M-29.6M-26.38M-39.43M-31.44M-28.73M37.5M
Operating Margin %-3.7%-2.66%-1.55%-1.25%-1.03%-1.3%-0.34%-0.12%0.08%
Operating Income Growth %-0.11%0.01%-0.46%0.11%-0.49%0.2%0.09%2.31%
EBITDA+-22.56M-19.8M-19.47M-28.38M-24.81M-37.61M-27.96M-20.55M57.25M
EBITDA Margin %-3.63%-2.58%-1.5%-1.2%-0.97%-1.24%-0.3%-0.09%0.13%
EBITDA Growth %-0.12%0.02%-0.46%0.13%-0.52%0.26%0.26%3.79%
D&A (Non-Cash Add-back)426K630K769K1.22M1.58M1.82M3.48M8.18M19.76M
EBIT-23.09M-19.72M-21M-29.15M-24.73M-40.3M-32.44M-15.88M50.19M
Net Interest Income+-974K-524K-2.42M-3.56M-2.33M-3.87M-2.83M1.71M-14.41M
Interest Income5K548K0790K1.65M0900K12.5M0
Interest Expense979K1.07M2.42M4.35M3.98M3.87M3.73M10.79M14.41M
Other Income/Expense-1.08M-365K-3.48M-3.9M-2.33M-4.75M-4.73M2.06M-1.72M
Pretax Income+-24.07M-20.79M-23.71M-33.51M-28.72M-44.18M-36.16M-26.67M35.78M
Pretax Margin %-3.88%-2.71%-1.82%-1.42%-1.12%-1.46%-0.39%-0.11%0.08%
Income Tax+032K41K40K32K36K66K-1.64M316K
Effective Tax Rate %1%1%1%1%1%1%1%0.94%0.99%
Net Income+-24.07M-20.82M-23.76M-33.55M-28.75M-44.22M-36.23M-25.03M35.46M
Net Margin %-3.88%-2.71%-1.82%-1.42%-1.12%-1.46%-0.39%-0.1%0.08%
Net Income Growth %-0.13%-0.14%-0.41%0.14%-0.54%0.18%0.31%2.42%
Net Income (Continuing)-24.07M-20.82M-23.76M-33.55M-28.75M-44.22M-36.23M-25.03M35.46M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)+-1.66-1.44-1.23-2.36-1.16-1.60-1.23-0.771.01
EPS Growth %-0.13%0.15%-0.92%0.51%-0.38%0.23%0.37%2.31%
EPS (Basic)-1.66-1.44-1.23-2.36-1.16-1.60-1.23-0.771.07
Diluted Shares Outstanding14.48M14.48M19.25M14.2M24.7M27.62M29.56M32.52M35.22M
Basic Shares Outstanding14.48M14.48M19.25M14.2M24.7M27.62M29.56M32.52M33.23M
Dividend Payout Ratio---------

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+55.86M34.04M34.79M100M146.77M118.7M252.29M510.65M497.22M
Cash & Short-Term Investments47.84M24.66M20.24M80.69M125.64M92.45M201.18M394.81M336.65M
Cash Only9.84M11.94M20.24M20.09M24.58M25.58M201.18M394.81M336.65M
Short-Term Investments38M12.73M060.6M101.06M66.87M000
Accounts Receivable1.38M925K3.44M6.56M6.86M5.93M27.61M63.58M97.72M
Days Sales Outstanding81.0743.9396.4101.4297.7271.57107.8396.0480.78
Inventory6.33M7.97M9.28M11.22M11.93M14.86M20.61M44.23M46.55M
Days Inventory Outstanding424.82524.41464.93420.27483.77595.8266.82184.4694.69
Other Current Assets0001.54M2.33M5.46M2.9M8.03M16.29M
Total Non-Current Assets+2.24M2.96M7.36M5.3M5.26M16.19M24.85M195.39M306.86M
Property, Plant & Equipment1.72M2.46M3.47M4.79M4.75M15.69M24.35M180.49M292.45M
Fixed Asset Turnover3.60x3.13x3.75x4.93x5.39x1.93x3.84x1.34x1.51x
Goodwill000000011.99M11.55M
Intangible Assets00000002.35M2.15M
Long-Term Investments0500K500K500K0500K500K00
Other Non-Current Assets518K6K3.39M6K506K00562K708K
Total Assets+58.1M37M42.16M105.3M152.03M134.89M277.15M706.05M804.08M
Asset Turnover0.11x0.21x0.31x0.22x0.17x0.22x0.34x0.34x0.55x
Asset Growth %--0.36%0.14%1.5%0.44%-0.11%1.05%1.55%0.14%
Total Current Liabilities+9.47M10.9M12.55M16.11M11.88M23.24M23.66M54.93M59.91M
Accounts Payable4.25M3.52M4.72M7.25M1.21M6.65M3.34M12.72M10.29M
Days Payables Outstanding285231.25236.55271.5548.89266.6843.2653.0320.93
Short-Term Debt01.8M0000002.73M
Deferred Revenue (Current)0239K306K166K263K250K241K1000K1000K
Other Current Liabilities488K569K655K370K6.38M11.16M8.82M17.92M45.15M
Current Ratio5.90x3.12x2.77x6.21x12.36x5.11x10.66x9.30x8.30x
Quick Ratio5.23x2.39x2.03x5.51x11.35x4.47x9.79x8.49x7.52x
Cash Conversion Cycle220.88337.09324.78250.15532.6400.69331.39227.47154.53
Total Non-Current Liabilities+9.84M194.83M34.43M34.53M36.26M43.8M66.11M513.91M515.56M
Long-Term Debt8.41M6.85M33.67M34.15M34.66M35.2M58.7M506.2M509.31M
Capital Lease Obligations000008.6M7.42M7.71M6.25M
Deferred Tax Liabilities0-1.11M-759K000000
Other Non-Current Liabilities1.44M187.98M759K389K1.6M0000
Total Liabilities19.32M205.72M46.98M50.65M48.13M67.04M89.77M568.85M575.47M
Total Debt+8.41M8.65M33.67M34.15M34.66M43.8M67.56M515.95M518.29M
Net Debt-1.43M-3.28M13.43M14.05M10.08M18.22M-133.63M121.13M181.64M
Debt / Equity0.22x--0.62x0.33x0.65x0.36x3.76x2.27x
Debt / EBITDA--------9.05x
Net Debt / EBITDA--------3.17x
Interest Coverage-23.48x-19.05x-8.36x-6.80x-6.62x-10.18x-8.44x-2.66x2.60x
Total Equity+38.79M-168.72M-4.83M54.65M103.89M67.85M187.38M137.2M228.6M
Equity Growth %--5.35%0.97%12.33%0.9%-0.35%1.76%-0.27%0.67%
Book Value per Share2.68-11.65-0.253.854.212.466.344.226.49
Total Shareholders' Equity38.79M-168.72M-4.83M54.65M103.89M67.85M187.38M137.2M228.6M
Common Stock1K1K331.21M424.13M502.22M510.49M666.28M641.11M697.21M
Retained Earnings-291.36M-312.18M-335.94M-369.48M-398.23M-442.45M-478.68M-503.7M-468.24M
Treasury Stock000000000
Accumulated OCI-417K-149K-101K-2K-95K-188K-225K-199K-364K
Minority Interest000000000

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-24.11M-23.1M-25.98M-32.29M-30.27M-28.86M-45.82M-13.03M48.8M
Operating CF Margin %-3.88%-3.01%-2%-1.37%-1.18%-0.95%-0.49%-0.05%0.11%
Operating CF Growth %-0.04%-0.12%-0.24%0.06%0.05%-0.59%0.72%4.75%
Net Income-24.07M-20.82M-23.76M-33.55M-28.75M-44.22M-36.23M-25.03M35.46M
Depreciation & Amortization426K630K769K1.22M1.58M1.82M3.48M8.18M19.76M
Stock-Based Compensation45K70K144K854K2.41M6.88M10.32M19.79M33.22M
Deferred Taxes292K-316K1.01M336K-431K00-1.66M0
Other Non-Cash Items65K93K177K475K511K3.65M3.37M30.04M5.36M
Working Capital Changes-872K-2.75M-4.33M-1.63M-5.59M3M-26.76M-44.35M-45M
Change in Receivables-758K454K-2.51M-3.17M-218K840K-21.68M-33.82M-34.31M
Change in Inventory-1.59M-2.5M-2.7M-4.12M-1.74M-4.89M-8.02M-28.09M-8.35M
Change in Payables1.06M-735K164K3.44M-5.8M5.09M-3.27M6.96M-1.4M
Cash from Investing+-39.67M24.86M12.31M-60.5M-41.6M29.27M54.51M-193.95M-129.3M
Capital Expenditures-1.48M-263K-418K-165K-455K-3.52M-11.91M-151.85M0
CapEx % of Revenue0.24%0.03%0.03%0.01%0.02%0.12%0.13%0.63%0.29%
Acquisitions---------
Investments---------
Other Investing-38.19M25.12M12.72M-60.34M-41.14M0-107K-27.21M-129.74M
Cash from Financing+63.54M3K22.06M92.72M75.55M1.39M167.93M400.42M22.87M
Debt Issued (Net)---------
Equity Issued (Net)---------
Dividends Paid000000000
Share Repurchases---------
Other Financing-64K3K-2.3M-4.64M584K1.39M5.61M-44.96M0
Net Change in Cash---------
Free Cash Flow+-25.59M-23.36M-26.4M-32.45M-30.72M-32.38M-57.72M-192.09M-80.94M
FCF Margin %-4.12%-3.04%-2.03%-1.37%-1.2%-1.07%-0.62%-0.79%-0.18%
FCF Growth %-0.09%-0.13%-0.23%0.05%-0.05%-0.78%-2.33%0.58%
FCF per Share-1.77-1.61-1.37-2.28-1.24-1.17-1.95-5.91-2.30
FCF Conversion (FCF/Net Income)1.00x1.11x1.09x0.96x1.05x0.65x1.26x0.52x1.38x
Interest Paid000003.33M08.09M0
Taxes Paid000000000

Key Ratios

Metric201620172018201920202021202220232024
Return on Equity (ROE)-62.04%---134.66%-36.27%-51.49%-28.39%-15.42%19.39%
Return on Invested Capital (ROIC)---176.4%-57.44%-21.67%-29.56%-33.73%-13.81%8.41%
Gross Margin12.34%27.81%44.05%58.73%64.88%69.92%69.84%63.77%59.36%
Net Margin-387.58%-270.96%-182.5%-142.12%-112.13%-146.11%-38.77%-10.36%8.03%
Debt / Equity0.22x--0.62x0.33x0.65x0.36x3.76x2.27x
Interest Coverage-23.48x-19.05x-8.36x-6.80x-6.62x-10.18x-8.44x-2.66x2.60x
FCF Conversion1.00x1.11x1.09x0.96x1.05x0.65x1.26x0.52x1.38x
Revenue Growth-23.77%69.38%81.33%8.62%18.03%208.83%158.53%82.74%

Revenue by Segment

201920202021202220232024
Product---79.23M176.05M273.87M
Product Growth----122.19%55.56%
Service Revenue---14.22M65.55M167.67M
Service Revenue Growth----360.84%155.78%
Ocs Heart Product11.44M14.2M17.68M---
Ocs Heart Product Growth-24.07%24.56%---
Ocs Lung Product8.66M6.19M10.66M---
Ocs Lung Product Growth--28.51%72.18%---
Ocs Liver Product3.5M5.25M1.91M---
Ocs Liver Product Growth-50.06%-63.54%---

Revenue by Geography

201920202021202220232024
UNITED STATES16.25M19.24M21.86M7.97M--
UNITED STATES Growth-18.37%13.63%-63.56%--
Other Countries3.97M--880K--
Other Countries Growth------
Non Us And Uk-6.4M8.4M---
Non Us And Uk Growth--31.27%---
GERMANY1.15M-----
GERMANY Growth------

Frequently Asked Questions

Valuation & Price

TransMedics Group, Inc. (TMDX) has a price-to-earnings (P/E) ratio of 140.6x. This suggests investors expect higher future growth.

Growth & Financials

TransMedics Group, Inc. (TMDX) reported $566.4M in revenue for fiscal year 2024. This represents a 9022% increase from $6.2M in 2016.

TransMedics Group, Inc. (TMDX) grew revenue by 82.7% over the past year. This is strong growth.

Yes, TransMedics Group, Inc. (TMDX) is profitable, generating $91.8M in net income for fiscal year 2024 (8.0% net margin).

Dividend & Returns

TransMedics Group, Inc. (TMDX) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.

TransMedics Group, Inc. (TMDX) generated $120.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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