(TCMD) Tactile Systems Technology - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 561m USD | Total Return: 148.6% in 12m
Avg Turnover: 8.06M
EPS Trend: 6.6%
Qual. Beats: 0
Rev. Trend: 95.7%
Qual. Beats: 4
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader
Tactile Systems Technology, Inc. (TCMD) is a Minneapolis-based medical technology company focused on at-home therapies for chronic diseases, specifically lymphedema and chronic pulmonary conditions. Its core product portfolio includes pneumatic compression devices like the Flexitouch Plus and Entre Plus systems, as well as the AffloVest for airway clearance. The company integrates digital health through its Kylee mobile application to monitor patient progress and treatment adherence.
Operating within the Health Care Equipment sector, TCMD utilizes a direct-to-patient business model that manages the entire process from clinical prescription to insurance reimbursement. This sector is characterized by high barriers to entry due to stringent FDA regulatory requirements and the necessity of establishing broad payer coverage networks. Investors may find additional data on these market dynamics by exploring ValueRay.
The company focuses on underserved patient populations where home-based mechanical prophylaxis can reduce long-term hospitalizations and clinical complications. By targeting chronic conditions like venous insufficiency and bronchiectasis, Tactile Systems positions itself within the growing trend of decentralized healthcare delivery and remote patient management.
- Medicare and private insurer reimbursement policy shifts impact Flexitouch revenue growth
- Expansion into the bronchiectasis market via AffloVest drives product segment diversification
- Direct-to-prescriber sales force productivity determines quarterly pneumatic compression device volume
- Regulatory approval timelines for new at-home treatment indications influence market expansion
- Rising manufacturing and logistics costs compress gross margins on medical hardware units
| Net Income: 20.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 0.95 > 1.0 |
| NWC/Revenue: 34.01% < 20% (prev 42.54%; Δ -8.53% < -1%) |
| CFO/TA 0.15 > 3% & CFO 42.1m > Net Income 20.3m |
| Net Debt (-59.8m) to EBITDA (40.8m): -1.46 < 3 |
| Current Ratio: 4.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (22.6m) vs 12m ago -4.85% < -2% |
| Gross Margin: 75.68% > 18% (prev 0.74%; Δ 7.49k% > 0.5%) |
| Asset Turnover: 124.4% > 50% (prev 104.6%; Δ 19.77% > 0%) |
| Interest Coverage Ratio: 53.39 > 6 (EBITDA TTM 40.8m / Interest Expense TTM 642k) |
| A: 0.43 (Total Current Assets 152.8m - Total Current Liabilities 36.0m) / Total Assets 272.1m |
| B: 0.20 (Retained Earnings 53.2m / Total Assets 272.1m) |
| C: 0.12 (EBIT TTM 34.3m / Avg Total Assets 276.2m) |
| D: 0.98 (Book Value of Equity 53.2m / Total Liabilities 54.2m) |
| Altman-Z'' = 5.32 = AAA |
| DSRI: 0.88 (Receivables 38.2m/36.9m, Revenue 343.5m/293.2m) |
| GMI: 0.98 (GM 75.68% / 74.35%) |
| AQI: 1.05 (AQ_t 0.37 / AQ_t-1 0.35) |
| SGI: 1.17 (Revenue 343.5m / 293.2m) |
| TATA: -0.08 (NI 20.3m - CFO 42.1m) / TA 272.1m) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at USD 24.61 with a total of 272,622 shares traded.
Over the past week, the price has changed by -3.98%,
over one month by +9.38%,
over three months by -15.98% and
over the past year by +148.59%.
Tactile Systems Technology has received a consensus analysts rating of 3.40. Therefore, it is recommended to hold TCMD.
- StrongBuy: 1
- Buy: 0
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 39.5 | 60.5% |
P/E Trailing = 28.5862
P/E Forward = 19.1205
P/S = 1.633
P/B = 2.578
P/EG = 17.792
Revenue TTM = 343.5m USD
EBIT TTM = 34.3m USD
EBITDA TTM = 40.8m USD
Long Term Debt = 11.9m USD (estimated: total debt 15.2m - short term 3.24m)
Short Term Debt = 3.24m USD (from shortTermDebt, last quarter)
Debt = 15.2m USD (from shortLongTermDebtTotal, last quarter) (leases 15.2m already included)
Net Debt = -59.8m USD (calculated: Debt 15.2m - CCE 75.0m)
Enterprise Value = 501.2m USD (561.0m + Debt 15.2m - CCE 75.0m)
Interest Coverage Ratio = 53.39 (Ebit TTM 34.3m / Interest Expense TTM 642k)
EV/FCF = 12.78x (Enterprise Value 501.2m / FCF TTM 39.2m)
FCF Yield = 7.83% (FCF TTM 39.2m / Enterprise Value 501.2m)
FCF Margin = 11.42% (FCF TTM 39.2m / Revenue TTM 343.5m)
Net Margin = 5.91% (Net Income TTM 20.3m / Revenue TTM 343.5m)
Gross Margin = 75.68% ((Revenue TTM 343.5m - Cost of Revenue TTM 83.6m) / Revenue TTM)
Gross Margin QoQ = 76.55% (prev 75.84%)
Tobins Q-Ratio = 1.84 (Enterprise Value 501.2m / Total Assets 272.1m)
Interest Expense / Debt = 4.23% (Interest Expense 642k / Debt 15.2m)
Taxrate = 39.10% (12.3m / 31.3m)
NOPAT = 20.9m (EBIT 34.3m * (1 - 39.10%))
Current Ratio = 4.24 (Total Current Assets 152.8m / Total Current Liabilities 36.0m)
Debt / Equity = 0.07 (Debt 15.2m / totalStockholderEquity, last quarter 217.9m)
Debt / EBITDA = -1.46 (Net Debt -59.8m / EBITDA 40.8m)
Debt / FCF = -1.53 (Net Debt -59.8m / FCF TTM 39.2m)
Total Stockholder Equity = 209.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.35% (Net Income 20.3m / Total Assets 272.1m)
RoE = 9.70% (Net Income TTM 20.3m / Total Stockholder Equity 209.2m)
RoCE = 15.50% (EBIT 34.3m / Capital Employed (Equity 209.2m + L.T.Debt 11.9m))
RoIC = 8.72% (NOPAT 20.9m / Invested Capital 239.3m)
WACC = 5.65% (E(561.0m)/V(576.1m) * Re(5.73%) + D(15.2m)/V(576.1m) * Rd(4.23%) * (1-Tc(0.39)))
Discount Rate = 5.73% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.78 | Cagr: -1.65%
[DCF] Terminal Value 75.95% ; FCFF base≈38.6m ; Y1≈40.1m ; Y5≈45.2m
[DCF] Fair Price = 33.64 (EV 699.0m - Net Debt -59.8m = Equity 758.9m / Shares 22.6m; r=8.35% [WACC [floored]]; 5y FCF grow 3.94% → 2.50% )
EPS Correlation: 6.61 | EPS CAGR: 2.76% | SUE: 0.59 | # QB: 0
Revenue Correlation: 95.68 | Revenue CAGR: 8.74% | SUE: 1.05 | # QB: 4
EPS current Quarter (2026-06-30): EPS=0.17 | Chg30d=+3.03% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.39 | Chg30d=+1.30% | Revisions=+20% | Analysts=2
EPS current Year (2026-12-31): EPS=1.09 | Chg30d=-1.35% | Revisions=+0% | GrowthEPS=+31.6% | GrowthRev=+10.7%
EPS next Year (2027-12-31): EPS=1.50 | Chg30d=+2.03% | Revisions=+33% | GrowthEPS=+37.4% | GrowthRev=+9.0%
[Analyst] Revisions Ratio: +33%