Baird Medical Financials
This page shows Baird Medical (BDMD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Baird Medical has an operating margin of 41.3%, meaning the company retains $41 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 37.7% the prior year.
Baird Medical's revenue surged 17.7% year-over-year to $37.0M, reflecting rapid business expansion. This strong growth earns a score of 79/100.
Baird Medical carries a low D/E ratio of 0.09, meaning only $0.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Baird Medical's current ratio of 1.77 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
While Baird Medical generated -$6.3M in operating cash flow, capex of $2.9M consumed most of it, leaving -$9.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Baird Medical earns a strong 31.8% return on equity (ROE), meaning it generates $32 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 29.8% the prior year.
Baird Medical scores 2.81, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Baird Medical passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Baird Medical generates $-0.50 in operating cash flow (-$6.3M OCF vs $12.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Baird Medical earns $30.8 in operating income for every $1 of interest expense ($15.3M vs $497K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Baird Medical generated $37.0M in revenue in fiscal year 2024. This represents an increase of 17.7% from the prior year.
Baird Medical's EBITDA was $16.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 27.8% from the prior year.
Baird Medical generated -$9.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 150.6% from the prior year.
Baird Medical reported $12.6M in net income in fiscal year 2024. This represents an increase of 18.2% from the prior year.
Baird Medical earned $0.49 per diluted share (EPS) in fiscal year 2024. This represents an increase of 19.5% from the prior year.
Baird Medical held $3.0M in cash against $3.4M in long-term debt as of fiscal year 2024.
Baird Medical had 36M shares outstanding in fiscal year 2024. This represents an increase of 21.5% from the prior year.
Baird Medical's gross margin was 88.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the prior year.
Baird Medical's operating margin was 41.3% in fiscal year 2024, reflecting core business profitability. This is up 3.6 percentage points from the prior year.
Baird Medical's net profit margin was 34.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.1 percentage points from the prior year.
Baird Medical's ROE was 31.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Baird Medical invested $6.2M in research and development in fiscal year 2024. This represents an increase of 44.4% from the prior year.
Baird Medical invested $2.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 8.2% from the prior year.
BDMD Income Statement
| Metric | Q2'25 | Q2'24 | Q4'23 |
|---|---|---|---|
| Revenue | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A |
BDMD Balance Sheet
| Metric | Q2'25 | Q2'24 | Q4'23 |
|---|---|---|---|
| Total Assets | $77.0M-1.2% | $78.0M+37.5% | $56.7M |
| Current Assets | $60.7M-1.1% | $61.4M+53.2% | $40.1M |
| Cash & Equivalents | $2.2M-26.9% | $3.0M+96.6% | $1.5M |
| Inventory | $1.4M+10.3% | $1.3M+13.5% | $1.1M |
| Accounts Receivable | $40.8M-12.3% | $46.6M+49.8% | $31.1M |
| Goodwill | $59K+1.9% | $58K-2.7% | $59K |
| Total Liabilities | $41.4M+8.3% | $38.2M+81.9% | $21.0M |
| Current Liabilities | $35.5M+2.4% | $34.6M+82.5% | $19.0M |
| Long-Term Debt | $5.8M+68.9% | $3.4M+113.3% | $1.6M |
| Total Equity | $35.6M-10.3% | $39.7M+10.9% | $35.8M |
| Retained Earnings | $15.5M-42.3% | $26.8M+85.9% | $14.4M |
BDMD Cash Flow Statement
| Metric | Q2'25 | Q2'24 | Q4'23 |
|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A |
BDMD Financial Ratios
| Metric | Q2'25 | Q2'24 | Q4'23 |
|---|---|---|---|
| Gross Margin | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A |
| Current Ratio | 1.71-0.1 | 1.77-0.3 | 2.11 |
| Debt-to-Equity | 0.16+0.1 | 0.09+0.0 | 0.05 |
| FCF Margin | N/A | N/A | N/A |
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Frequently Asked Questions
What is Baird Medical's annual revenue?
Baird Medical (BDMD) reported $37.0M in total revenue for fiscal year 2024. This represents a 17.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Baird Medical's revenue growing?
Baird Medical (BDMD) revenue grew by 17.7% year-over-year, from $31.5M to $37.0M in fiscal year 2024.
Is Baird Medical profitable?
Yes, Baird Medical (BDMD) reported a net income of $12.6M in fiscal year 2024, with a net profit margin of 34.0%.
What is Baird Medical's earnings per share (EPS)?
Baird Medical (BDMD) reported diluted earnings per share of $0.49 for fiscal year 2024. This represents a 19.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Baird Medical's EBITDA?
Baird Medical (BDMD) had EBITDA of $16.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Baird Medical have?
As of fiscal year 2024, Baird Medical (BDMD) had $3.0M in cash and equivalents against $3.4M in long-term debt.
What is Baird Medical's gross margin?
Baird Medical (BDMD) had a gross margin of 88.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Baird Medical's operating margin?
Baird Medical (BDMD) had an operating margin of 41.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Baird Medical's net profit margin?
Baird Medical (BDMD) had a net profit margin of 34.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Baird Medical's return on equity (ROE)?
Baird Medical (BDMD) has a return on equity of 31.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Baird Medical's free cash flow?
Baird Medical (BDMD) generated -$9.2M in free cash flow during fiscal year 2024. This represents a -150.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Baird Medical's operating cash flow?
Baird Medical (BDMD) generated -$6.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Baird Medical's total assets?
Baird Medical (BDMD) had $78.0M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Baird Medical's capital expenditures?
Baird Medical (BDMD) invested $2.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Baird Medical spend on research and development?
Baird Medical (BDMD) invested $6.2M in research and development during fiscal year 2024.
How many shares does Baird Medical have outstanding?
Baird Medical (BDMD) had 36M shares outstanding as of fiscal year 2024.
What is Baird Medical's current ratio?
Baird Medical (BDMD) had a current ratio of 1.77 as of fiscal year 2024, which is generally considered healthy.
What is Baird Medical's debt-to-equity ratio?
Baird Medical (BDMD) had a debt-to-equity ratio of 0.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Baird Medical's return on assets (ROA)?
Baird Medical (BDMD) had a return on assets of 16.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Baird Medical's cash runway?
Based on fiscal year 2024 data, Baird Medical (BDMD) had $3.0M in cash against an annual operating cash burn of $6.3M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Baird Medical's Altman Z-Score?
Baird Medical (BDMD) has an Altman Z-Score of 2.81, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Baird Medical's Piotroski F-Score?
Baird Medical (BDMD) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Baird Medical's earnings high quality?
Baird Medical (BDMD) has an earnings quality ratio of -0.50x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Baird Medical cover its interest payments?
Baird Medical (BDMD) has an interest coverage ratio of 30.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Baird Medical?
Baird Medical (BDMD) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.