TransMedics Group, Inc. (TMDX) Financial Ratios
10 years of historical data (2016–2025) · Healthcare · Medical - Devices
EV/EBITDA
↓
19.92
↓-49% vs avg
5yr avg: 38.86
30Y Low36.2·High41.5
P/FCF
20.38
↓-45% vs avg
5yr avg: 36.92
30Y Low36.9·High36.9
P/B Ratio
↑
6.75
↓-40% vs avg
5yr avg: 11.25
30Y Low4.7·High18.7
ROE
↑
54.2%
↓+1351% vs avg
5yr avg: -4.3%
30Y Low-135%·High54%
Debt/EBITDA
↓
3.46
↓-45% vs avg
5yr avg: 6.26
30Y Low3.5·High9.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TMDX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
TransMedics Group, Inc. trades at 16.2x earnings, 63% below its 5-year average of 43.4x, sitting at the 0th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 27%. On a free-cash-flow basis, the stock trades at 20.4x P/FCF, 45% below the 5-year average of 36.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.7B | $4.9B | $2.2B | $2.6B | $1.8B | $529M | $492M | $270M | — | — | — |
| Enterprise Value | $2.7B | $4.9B | $2.4B | $2.7B | $1.7B | $547M | $502M | $284M | — | — | — |
| P/E Ratio → | 16.18 | 24.98 | 61.73 | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.50 | 8.15 | 4.97 | 10.62 | 19.52 | 17.49 | 19.17 | 11.44 | — | — | — |
| P/B Ratio | 6.75 | 10.42 | 9.61 | 18.71 | 9.74 | 7.80 | 4.73 | 4.94 | — | — | — |
| P/FCF | 20.38 | 36.92 | — | — | — | — | — | — | — | — | — |
| P/OCF | 14.12 | 25.57 | 44.99 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
TMDX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
TransMedics Group, Inc.'s enterprise value stands at 19.9x EBITDA, 49% below its 5-year average of 38.9x. The Healthcare sector median is 14.2x, placing the stock at a 40% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.11 | 5.38 | 11.12 | 18.09 | 18.09 | 19.57 | 12.04 | — | — | — |
| EV / EBITDA | 19.92 | 36.19 | 41.52 | — | — | — | — | — | — | — | — |
| EV / EBIT | 24.91 | 40.50 | 47.37 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 36.78 | — | — | — | — | — | — | — | — | — |
TMDX Profitability
Margins and return-on-capital ratios measuring operating efficiency
TransMedics Group, Inc. earns an operating margin of 17.9%. Operating margins have expanded from -11.9% to 17.9% over the past 3 years, signaling improving operational efficiency. Return on equity of 54.2% is exceptionally high. ROIC of 18.8% represents solid returns on invested capital.
Margins
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 | 59.9% | 59.9% | 59.4% | 63.8% | 69.8% | 69.9% | 64.9% | 58.7% | 44.1% | 27.8% | 12.3% |
| Operating Margin | 17.9% | 17.9% | 8.5% | -11.9% | -33.6% | -130.3% | -102.9% | -125.4% | -155.5% | -265.8% | -370.2% |
| Net Profit Margin | 31.4% | 31.4% | 8.0% | -10.4% | -38.8% | -146.1% | -112.1% | -142.1% | -182.5% | -271.0% | -387.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 54.2% | 54.2% | 19.4% | -15.4% | -28.4% | -51.5% | -36.3% | -134.7% | — | — | -62.0% |
| ROA | 20.3% | 20.3% | 4.7% | -5.1% | -17.6% | -30.8% | -22.3% | -45.5% | -60.0% | -43.8% | -41.4% |
| ROIC | 18.8% | 18.8% | 8.4% | -13.8% | -33.7% | -29.6% | -21.7% | -57.4% | -176.4% | — | — |
| ROCE | 12.6% | 12.6% | 5.4% | -6.4% | -17.2% | -31.3% | -23.0% | -49.8% | -72.7% | -54.7% | -47.3% |
TMDX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
TransMedics Group, Inc. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (8% above the sector average of 3.2x). The company holds a net cash position — cash of $488M exceeds total debt of $470M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 8.8x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.99 | 0.99 | 2.27 | 3.76 | 0.36 | 0.65 | 0.33 | 0.62 | — | — | 0.22 |
| Debt / EBITDA | 3.46 | 3.46 | 9.05 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.04 | 0.79 | 0.88 | -0.71 | 0.27 | 0.10 | 0.26 | — | — | -0.04 |
| Net Debt / EBITDA | -0.14 | -0.14 | 3.17 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.14 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 8.80 | 8.80 | 3.48 | -1.47 | -8.71 | -10.40 | -6.21 | -6.70 | -8.68 | -18.39 | -23.58 |
Net cash position: cash ($488M) exceeds total debt ($470M)
TMDX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
TransMedics Group, Inc.'s current ratio of 7.14x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 6.59x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 9.30x to 7.14x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.14 | 7.14 | 8.30 | 9.30 | 10.66 | 5.11 | 12.36 | 6.21 | 2.77 | 3.12 | 5.90 |
| Quick Ratio | 6.59 | 6.59 | 7.52 | 8.49 | 9.79 | 4.47 | 11.35 | 5.51 | 2.03 | 2.39 | 5.23 |
| Cash Ratio | 5.47 | 5.47 | 5.62 | 7.19 | 8.50 | 3.98 | 10.58 | 5.01 | 1.61 | 2.26 | 5.05 |
| Asset Turnover | — | 0.57 | 0.55 | 0.34 | 0.34 | 0.22 | 0.17 | 0.22 | 0.31 | 0.21 | 0.11 |
| Inventory Turnover | 4.96 | 4.96 | 3.85 | 1.98 | 1.37 | 0.61 | 0.75 | 0.87 | 0.79 | 0.70 | 0.86 |
| Days Sales Outstanding | — | 50.81 | 80.78 | 96.04 | 107.83 | 71.57 | 97.72 | 101.42 | 96.40 | 43.93 | 81.07 |
TMDX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
TransMedics Group, Inc. returns 0.0% to shareholders annually primarily through share buybacks. The earnings yield of 6.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 4.0% | 1.6% | — | — | — | — | — | — | — | — |
| FCF Yield | 4.9% | 2.7% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $41M | $35M | $33M | $30M | $28M | $25M | $14M | $19M | $14M | $14M |
Peer Comparison
Compare TMDX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TMDXYou | $3B | 16.2 | 19.9 | 20.4 | 59.9% | 17.9% | 54.2% | 18.8% | 3.5 |
 AVXL | $253M | -5.1 | — | — | — | — | -43.1% | — | — |
 STVN | $5B | 31.3 | 16.9 | 195.2 | 29.0% | 16.1% | 9.3% | 7.7% | 1.8 |
 NVCR | $2B | -11.7 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 LIVN | $4B | -17.6 | 17.2 | 24.9 | 67.7% | 14.4% | -19.2% | 11.5% | 2.0 |
 ATRC | $1B | -120.0 | 80.7 | 30.2 | 74.4% | -0.6% | -2.4% | -0.6% | 5.2 |
 NTRA | $33B | -152.2 | — | 303.7 | 64.8% | -13.4% | -14.3% | -36.1% | — |
 MMSI | $4B | 31.6 | 14.0 | 18.6 | 48.7% | 12.2% | 8.7% | 7.2% | 2.8 |
 ITGR | $3B | 31.5 | 13.5 | 29.8 | 23.1% | 11.3% | 6.1% | 5.4% | 4.2 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 DVA | $13B | 21.9 | 10.1 | 10.2 | 27.0% | 14.7% | 46.0% | 10.5% | 5.5 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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TMDX — Frequently Asked Questions
Quick answers to the most common questions about buying TMDX stock.
What is TransMedics Group, Inc.'s P/E ratio?
TransMedics Group, Inc.'s current P/E ratio is 16.2x. The historical average is 43.4x.
What is TransMedics Group, Inc.'s EV/EBITDA?
TransMedics Group, Inc.'s current EV/EBITDA is 19.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 38.9x.
What is TransMedics Group, Inc.'s ROE?
TransMedics Group, Inc.'s return on equity (ROE) is 54.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -31.8%.
Is TMDX stock overvalued?
Based on historical data, TransMedics Group, Inc. is trading at a P/E of 16.2x. Compare with industry peers and growth rates for a complete picture.
What are TransMedics Group, Inc.'s profit margins?
TransMedics Group, Inc. has 59.9% gross margin and 17.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does TransMedics Group, Inc. have?
TransMedics Group, Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.