(TMDX) TransMedics - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 2.382m USD | Total Return: -45.2% in 12m
Avg Turnover: 109M
Qual. Beats: -2
Rev. Trend: 96.8%
Qual. Beats: 0
Warnings
Earnings expected to drop: P/E 15.8 → Forward 31.7
Beneish M-Score -1.09 > -1.5 - likely earnings manipulation
Below Avwap Earnings
Tailwinds
No distinct edge detected
TransMedics Group, Inc. (TMDX) is a medical technology company specializing in the preservation and transport of donor organs for transplantation. Its primary product, the Organ Care System (OCS), replaces traditional cold storage by simulating physiological conditions through warm-perfusion technology. The OCS platform is currently utilized for lung, heart, and liver transplants to improve organ viability and expand the donor pool.
The company operates within the medical device sector, utilizing a business model that integrates hardware sales with recurring revenue from single-use perfusion sets required for each procedure. To address logistical barriers, TransMedics also manages an internal aviation fleet and clinical service teams to provide end-to-end organ retrieval and transport. For a deeper analysis of the companys valuation metrics and growth potential, consider reviewing the latest data on ValueRay.
Headquartered in Andover, Massachusetts, TransMedics focuses on addressing the clinical limitations of donation-after-circulatory-death (DCD) and standard criteria donor organs. By maintaining organs in a functional, beating, or breathing state outside the body, the technology allows for real-time clinical assessment prior to transplantation.
- Expansion of National OCS Program drives high-margin service revenue growth
- Ownership of private aviation fleet reduces third-party logistics costs and risks
- Increased clinical adoption of DCD heart and liver transplants expands market
- Regulatory approval of OCS technology in international markets scales global revenue
- High capital expenditure for logistics infrastructure impacts short-term operating margins
| Net Income: 171.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 18.10 > 1.0 |
| NWC/Revenue: 82.93% < 20% (prev 92.23%; Δ -9.30% < -1%) |
| CFO/TA 0.15 > 3% & CFO 220.2m > Net Income 171.9m |
| Net Debt (707.2m) to EBITDA (137.4m): 5.15 < 3 |
| Current Ratio: 6.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.2m) vs 12m ago -9.32% < -2% |
| Gross Margin: 59.09% > 18% (prev 0.59%; Δ 5.85k% > 0.5%) |
| Asset Turnover: 55.97% > 50% (prev 58.29%; Δ -2.33% > 0%) |
| Interest Coverage Ratio: 5.97 > 6 (EBITDA TTM 137.4m / Interest Expense TTM 17.5m) |
| A: 0.37 (Total Current Assets 619.3m - Total Current Liabilities 91.9m) / Total Assets 1.43b |
| B: -0.19 (Retained Earnings -270.6m / Total Assets 1.43b) |
| C: 0.09 (EBIT TTM 104.5m / Avg Total Assets 1.14b) |
| D: 0.53 (Book Value of Equity 494.0m / Total Liabilities 940.8m) |
| Altman-Z'' = 2.97 = A |
| DSRI: 0.49 (Receivables 90.7m/142.0m, Revenue 635.9m/488.2m) |
| GMI: 1.01 (GM 59.09% / 59.45%) |
| AQI: 4.66 (AQ_t 0.08 / AQ_t-1 0.02) |
| SGI: 1.30 (Revenue 635.9m / 488.2m) |
| TATA: -0.03 (NI 171.9m - CFO 220.2m) / TA 1.43b) |
| Beneish M = -1.09 (Cap -4..+1) = D |
As of May 27, 2026, the stock is trading at USD 70.46 with a total of 1,537,708 shares traded.
Over the past week, the price has changed by +3.10%,
over one month by -34.83%,
over three months by -47.64% and
over the past year by -45.18%.
TransMedics has received a consensus analysts rating of 4.22. Therefore, it is recommended to buy TMDX.
- StrongBuy: 5
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 117.9 | 67.3% |
P/E Trailing = 15.7746
P/E Forward = 31.746
P/S = 3.7466
P/B = 4.8227
Revenue TTM = 635.9m USD
EBIT TTM = 104.5m USD
EBITDA TTM = 137.4m USD
Long Term Debt = 498.2m USD (from longTermDebt, last quarter)
Short Term Debt = 18.5m USD (from shortTermDebt, last quarter)
Debt = 1.17b USD (from shortLongTermDebtTotal, last quarter) + Leases 350.2m
Net Debt = 707.2m USD (calculated: Debt 1.17b - CCE 461.7m)
Enterprise Value = 3.09b USD (2.38b + Debt 1.17b - CCE 461.7m)
Interest Coverage Ratio = 5.97 (Ebit TTM 104.5m / Interest Expense TTM 17.5m)
EV/FCF = 20.41x (Enterprise Value 3.09b / FCF TTM 151.4m)
FCF Yield = 4.90% (FCF TTM 151.4m / Enterprise Value 3.09b)
FCF Margin = 23.80% (FCF TTM 151.4m / Revenue TTM 635.9m)
Net Margin = 27.04% (Net Income TTM 171.9m / Revenue TTM 635.9m)
Gross Margin = 59.09% ((Revenue TTM 635.9m - Cost of Revenue TTM 260.2m) / Revenue TTM)
Gross Margin QoQ = 58.16% (prev 58.11%)
Tobins Q-Ratio = 2.15 (Enterprise Value 3.09b / Total Assets 1.43b)
Interest Expense / Debt = 1.50% (Interest Expense 17.5m / Debt 1.17b)
Taxrate = 13.79% (1.17m / 8.48m)
NOPAT = 90.1m (EBIT 104.5m * (1 - 13.79%))
Current Ratio = 6.74 (Total Current Assets 619.3m / Total Current Liabilities 91.9m)
Debt / Equity = 2.37 (Debt 1.17b / totalStockholderEquity, last quarter 494.0m)
Debt / EBITDA = 5.15 (Net Debt 707.2m / EBITDA 137.4m)
Debt / FCF = 4.67 (Net Debt 707.2m / FCF TTM 151.4m)
Total Stockholder Equity = 410.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 15.13% (Net Income 171.9m / Total Assets 1.43b)
RoE = 25.26% (Net Income TTM 171.9m / Total Stockholder Equity 680.7m)
RoCE = 8.86% (EBIT 104.5m / Capital Employed (Equity 680.7m + L.T.Debt 498.2m))
RoIC = 6.62% (NOPAT 90.1m / Invested Capital 1.36b)
WACC = 7.37% (E(2.38b)/V(3.55b) * Re(10.36%) + D(1.17b)/V(3.55b) * Rd(1.50%) * (1-Tc(0.14)))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 73.33 | Cagr: 2.58%
[DCF] Terminal Value 75.44% ; FCFF base≈151.4m ; Y1≈152.0m ; Y5≈161.0m
[DCF] Fair Price = 51.99 (EV 2.50b - Net Debt 707.2m = Equity 1.80b / Shares 34.6m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.01 | # QB: -2
Revenue Correlation: 96.77 | Revenue CAGR: 65.56% | SUE: -0.01 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.61 | Chg30d=-18.48% | Revisions=-25% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.45 | Chg30d=-18.83% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=2.17 | Chg30d=-11.87% | Revisions=-20% | GrowthEPS=-17.5% | GrowthRev=+21.2%
EPS next Year (2027-12-31): EPS=3.55 | Chg30d=-3.49% | Revisions=+20% | GrowthEPS=+64.1% | GrowthRev=+18.6%
[Analyst] Revisions Ratio: -25%