TMCI Stock Analysis: Treace Medical Concepts | NASDAQ
Medical Devices | NASDAQ, USA | Market Cap: 273m USD | 12M Return: -30.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.93M
Qual. Beats: 3
Rev. Trend: 88.1%
Qual. Beats: 2
Warnings
Tailwinds
Seasonality 5.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Treace Medical Concepts, Inc. (TMCI) is a U.S.-based medical technology company that designs, manufactures, and markets medical devices focused primarily on foot and ankle surgery, with a particular emphasis on the surgical correction of bunion deformities. Founded in 2013 and headquartered in Ponte Vedra, Florida, the company went public in April 2021 and is classified within the Health Care Equipment sub-industry of the Health Care sector.
The companys core offering is the Lapiplasty System, a procedure platform that addresses all three dimensions of bunion deformity and allows early return to weight-bearing, supplemented by minimally invasive systems such as Nanoplasty 3D and Percuplasty. Its broader portfolio extends beyond bunions to include the Adductoplasty System for metatarsus adductus and midfoot osteoarthritis, the SpeedPlate and SpeedMTP implant fixation platforms, the IntelliGuide patient-specific 3D-printed instrumentation system, a range of osteotomes and release instruments, and biologic offerings such as Treace Allograft Wedges and CortiFuse Flowable Cortical Fibers.
TMCI operates as a niche orthopedic medical device company with a concentrated, single-condition focus rather than a diversified surgical portfolio. Its business model is built on selling specialized implants, instruments, and procedure systems directly to surgeons and hospitals, relying heavily on surgeon adoption and clinical differentiation in the foot and ankle subspecialty.
- Lapiplasty procedure volumes drive sustained revenue growth
- Competition intensifies in minimally invasive bunion correction segment
- Reimbursement coverage expansion accelerates surgeon adoption of 3D bunion systems
| Net Income: -61.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.14 > 0.02 and ΔFCF/TA 3.85 > 1.0 |
| NWC/Revenue: 42.92% < 20% (prev 55.15%; Δ -12.23% < -1%) |
| CFO/TA -0.07 > 3% & CFO -12.9m > Net Income -61.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.6m) vs 12m ago 3.08% < -2% |
| Gross Margin: 79.72% > 18% (prev 80.25%; Δ -0.53% > 0.5%) |
| Asset Turnover: 106.3% > 50% (prev 102.4%; Δ 3.92% > 0%) |
| Interest Coverage Ratio: -9.94 > 6 (EBIT TTM -55.5m / Interest Expense TTM 5.58m) |
| A: 0.48 (Total Current Assets 123.5m - Total Current Liabilities 34.5m) / Total Assets 184.1m |
| B: -1.45 (Retained Earnings -267.0m / Total Assets 184.1m) |
| C: -0.28 (EBIT TTM -55.5m / Avg Total Assets 195.0m) |
| D: 0.72 (Book Value of Equity 77.2m / Total Liabilities 106.9m) |
| Altman-Z'' = -2.71 = D |
| DSRI: 0.99 (Receivables 30.4m/31.1m, Revenue 207.3m/210.8m) |
| GMI: 1.01 (GM 80.25% / 79.72%) |
| AQI: 1.13 (AQ_t 0.12 / AQ_t-1 0.10) |
| SGI: 0.98 (Revenue 207.3m / 210.8m) |
| TATA: -0.26 (NI -61.0m - CFO -12.9m) / TA 184.1m) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of July 11, 2026, the stock is trading at USD 4.32 with a total of 430,438 shares traded. Over the past week, the price has changed by +2.61%, over one month by +2.13%, over three months by +138.67% and over the past year by -30.43%.
Current recommended Stop Loss: 3.40 (which is 21.3% or 2.4 ATR below the current price).
Treace Medical Concepts has received a consensus analysts rating of 3.57. Therefore, it is recommended to hold TMCI.
- StrongBuy: 2
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 4 | -7.4% |
P/S = 1.3174
P/B = 3.5508
Revenue TTM = 207.3m USD
EBIT TTM = -55.5m USD
EBITDA TTM = -46.3m USD
Long Term Debt = 55.8m USD (from longTermDebt, last quarter)
Short Term Debt = 1.78m USD (from shortLongTermDebt, last quarter)
Debt = 71.6m USD (corrected: LT Debt 55.8m + ST Debt 1.78m) + Leases 14.0m
Net Debt = 19.8m USD (calculated: Debt 71.6m - CCE 51.9m)
Enterprise Value = 292.9m USD (273.1m + Debt 71.6m - CCE 51.9m)
Interest Coverage Ratio = -9.94 (Ebit TTM -55.5m / Interest Expense TTM 5.58m)
EV/FCF = -11.28x (Enterprise Value 292.9m / FCF TTM -26.0m)
FCF Yield = -8.87% (FCF TTM -26.0m / Enterprise Value 292.9m)
FCF Margin = -12.53% (FCF TTM -26.0m / Revenue TTM 207.3m)
Net Margin = -29.44% (Net Income TTM -61.0m / Revenue TTM 207.3m)
Gross Margin = 79.72% ((Revenue TTM 207.3m - Cost of Revenue TTM 42.1m) / Revenue TTM)
Gross Margin QoQ = 79.26% (prev 80.62%)
Tobins Q-Ratio = 1.59 (Enterprise Value 292.9m / Total Assets 184.1m)
Interest Expense / Debt = 7.79% (Interest Expense 5.58m / Debt 71.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -43.8m (EBIT -55.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.58 (Total Current Assets 123.5m / Total Current Liabilities 34.5m)
Debt / Equity = 0.93 (Debt 71.6m / totalStockholderEquity, last quarter 77.2m)
Debt / EBITDA = -0.43 (negative EBITDA) (Net Debt 19.8m / EBITDA -46.3m)
Debt / FCF = -0.76 (negative FCF - burning cash) (Net Debt 19.8m / FCF TTM -26.0m)
Total Stockholder Equity = 87.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -31.31% (Net Income -61.0m / Total Assets 184.1m)
RoE = -69.50% (Net Income TTM -61.0m / Total Stockholder Equity 87.8m)
RoCE = -38.61% (EBIT -55.5m / Capital Employed (Equity 87.8m + L.T.Debt 55.8m))
RoIC = -31.47% (negative operating profit) (NOPAT -43.8m / Invested Capital 139.2m)
WACC = 11.48% (E(273.1m)/V(344.7m) * Re(12.87%) + D(71.6m)/V(344.7m) * Rd(7.79%) * (1-Tc(0.21)))
Discount Rate = 12.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 2.06%
[DCF] Fair Price = unknown (Cash Flow -26.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.19 | # QB: 3
Revenue Correlation: 88.06 | Revenue CAGR: 8.59% | SUE: 1.79 | # QB: 2
EPS current Quarter (2026-06-30): EPS=-0.30 | Chg30d=-3.45% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=-0.24 | Chg30d=-4.35% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=-0.91 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=-13.2% | GrowthRev=-3.0%
EPS next Year (2027-12-31): EPS=-0.90 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+1.1% | GrowthRev=+7.5%