What is TransMedics Group, Inc.'s earnings per share (EPS)?

TransMedics Group, Inc. (TMDX) reported diluted earnings per share of $4.87 for fiscal year 2025. This represents a 382.2% 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.

TransMedics Group, Inc. (TMDX) Financials

TMDX

Trailing 12 months to June 30, 2026

Revenue $668.5M +25.8% YoY

Net Income $151.7M +111.6% YoY

EPS (Diluted) $3.86 +99.0% YoY

Free Cash Flow $79.0M +355.5% YoY

Market Cap $2.7B as of Oct 10, 2026

Price / Sales 4.0x on $668.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings 17.8x on $151.7M net income, trailing 12 months to June 30, 2026

Price / Book 5.2x on $518.1M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TMDX SEC filings page.

TransMedics Group, Inc. (TMDX) reported $668.5M in revenue over the twelve months to Jun 30, 2026, up 25.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

Rhea AI TMDX FY2025 2026-10-03

TransMedics has shifted from heavy investment and accounting losses to cash-generating growth, while operating efficiency improved despite lower gross margins.

The most important change is cash conversion: operating cash flow moved from $48.8M in FY2024 to $192.8M in FY2025, while free cash flow swung from negative to $133.6M. That improvement was not merely an accounting effect; capital spending fell from $129.7M to $59.3M, allowing more operating cash to remain after reinvestment.

Gross margin declined from 69.8% in FY2022 to 59.9% in FY2025, so the profit improvement was not driven by richer gross economics alone. Yet operating margin reached 17.9% in FY2025, indicating that operating-cost leverage—rather than gross-margin expansion—did more of the work as the business scaled.

From FY2024 to FY2025, assets increased from $804.1M to $1.1B while liabilities moved only from $575.5M to $595.3M. Balance-sheet funding became less liability-dependent as equity rose to $473.1M, and the reported debt-to-equity ratio declined from 2.5x to 1.3x.

Financial Health Signals

Financial Health Score 57/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of TransMedics Group, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

TransMedics Group, Inc. has an operating margin of 17.9%, meaning the company retains $18 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is up from 8.5% the prior year.

Growth

TransMedics Group, Inc.'s revenue surged 37.1% year-over-year to $605.5M, reflecting rapid business expansion. This strong growth earns a score of 96/100.

Leverage

TransMedics Group, Inc. has a moderate D/E ratio of 1.26. This balance of debt and equity financing earns a leverage score of 42/100.

Liquidity

With a current ratio of 7.14, TransMedics Group, Inc. holds $7.14 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.

Cash Flow

TransMedics Group, Inc.'s free cash flow margin of 22.1% results in a low score of 13/100. Capital expenditures of $59.3M absorb a large share of operating cash flow.

Returns

TransMedics Group, Inc.'s ROE of 40.2% shows moderate profitability relative to equity, earning a score of 41/100. This is up from 15.5% the prior year.

Altman Z-Score Safe

3.88

TransMedics Group, Inc. scores 3.88, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.7B) relative to total liabilities ($595.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

TransMedics Group, Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.01x

For every $1 of reported earnings, TransMedics Group, Inc. generates $1.01 in operating cash flow ($192.8M OCF vs $190.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

7.88x

TransMedics Group, Inc. earns $7.88 in operating income for every $1 of interest expense ($108.6M vs $13.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$189.9M

YoY+20.7%

QoQ+9.2%

5Y CAGR+87.6%

TransMedics Group, Inc. generated $189.9M in revenue in Q2 2026. This represents an increase of 20.7% from the same quarter a year earlier. Against the prior quarter it is up 9.2%.

EBITDA

$34.0M

YoY-21.5%

QoQ+35.0%

TransMedics Group, Inc.'s EBITDA was $34.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 21.5% from the same quarter a year earlier. Against the prior quarter it is up 35.0%.

Net Income

$14.7M

YoY-57.9%

QoQ+100.7%

TransMedics Group, Inc. reported $14.7M in net income in Q2 2026. This represents a decrease of 57.9% from the same quarter a year earlier. Against the prior quarter it is up 100.7%.

EPS (Diluted)

$0.41

YoY-55.4%

QoQ+105.0%

TransMedics Group, Inc. earned $0.41 per diluted share (EPS) in Q2 2026. This represents a decrease of 55.4% from the same quarter a year earlier. Against the prior quarter it is up 105.0%.

Cash & Balance Sheet

Free Cash Flow

$10.2M

YoY-87.6%

QoQ+184.3%

TransMedics Group, Inc. generated $10.2M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 87.6% from the same quarter a year earlier. Against the prior quarter it is up 184.3%.

Cash & Debt

$491.1M

YoY+22.4%

QoQ+2.3%

5Y CAGR+81.0%

TransMedics Group, Inc. held $491.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

35M

YoY+1.7%

QoQ+0.3%

5Y CAGR+4.6%

TransMedics Group, Inc. had 35M shares outstanding in Q2 2026. This represents an increase of 1.7% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

59.6%

YoY-1.8pp

QoQ+1.4pp

5Y change-8.8pp

TransMedics Group, Inc.'s gross margin was 59.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.

Operating Margin

12.5%

YoY-10.7pp

QoQ+4.9pp

TransMedics Group, Inc.'s operating margin was 12.5% in Q2 2026, reflecting core business profitability. This is down 10.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.9 percentage points.

Net Margin

7.7%

YoY-14.5pp

QoQ+3.5pp

TransMedics Group, Inc.'s net profit margin was 7.7% in Q2 2026, showing the share of revenue converted to profit. This is down 14.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.5 percentage points.

Return on Equity

2.8%

YoY-8.1pp

QoQ+1.3pp

5Y change+14.8pp

TransMedics Group, Inc.'s ROE was 2.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 8.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Capital Allocation

R&D Spending

$31.6M

YoY+98.5%

QoQ+27.1%

5Y CAGR+38.1%

TransMedics Group, Inc. invested $31.6M in research and development in Q2 2026. This represents an increase of 98.5% from the same quarter a year earlier. Against the prior quarter it is up 27.1%.

Capital Expenditures

$7.1M

YoY-21.9%

QoQ-80.7%

5Y CAGR+94.8%

TransMedics Group, Inc. invested $7.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 21.9% from the same quarter a year earlier. Against the prior quarter it is down 80.7%.

Share Buybacks

Not reported for Q2 2026.

TMDX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TMDX quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Revenue	$668.5M	$605.5M+37.1%	$441.5M+82.7%	$241.6M+158.5%	$93.5M+208.8%	$30.3M+18.0%	$25.6M+8.6%	$23.6M+81.3%	$13.0M
Cost of Revenue	$276.1M	$242.7M+35.2%	$179.5M+105.0%	$87.5M+210.5%	$28.2M+209.6%	$9.1M+1.1%	$9.0M-7.6%	$9.7M+33.7%	$7.3M
Gross Profit	$392.3M	$362.8M+38.4%	$262.1M+70.1%	$154.1M+136.1%	$65.3M+208.5%	$21.2M+27.2%	$16.6M+20.0%	$13.9M+141.8%	$5.7M
R&D Expenses	$92.5M	$69.1M+23.4%	$56.0M+55.2%	$36.1M+34.5%	$26.8M+20.2%	$22.3M+18.4%	$18.8M-5.2%	$19.9M+45.5%	$13.7M
SG&A Expenses	$218.3M	$185.2M+9.8%	$168.6M+41.0%	$119.6M+71.0%	$69.9M+82.6%	$38.3M+58.3%	$24.2M+2.5%	$23.6M+91.6%	$12.3M
Operating Income	$81.6M	$108.6M+189.6%	$37.5M+230.5%	-$28.7M+8.6%	-$31.4M+20.3%	-$39.4M-49.4%	-$26.4M+10.9%	-$29.6M-46.3%	-$20.2M
EBITDA	N/A	$135.8M+137.1%	$57.3M+378.6%	-$20.6M+26.5%	-$28.0M+25.7%	-$37.6M-51.6%	-$24.8M+12.6%	-$28.4M-45.8%	-$19.5M
Interest Expense	$21.2M	$13.8M-4.4%	$14.4M+33.5%	$10.8M+189.6%	$3.7M-3.8%	$3.9M-2.8%	$4.0M-8.5%	$4.4M+60.0%	$2.7M
Income Tax	-$79.1M	-$82.8M-26292.7%	$316K+119.2%	-$1.6M-2589.4%	$66K	N/A	$0	$0	$0
Net Income	$151.7M	$190.3M+436.1%	$35.5M+242.0%	-$25.0M+30.9%	-$36.2M+18.1%	-$44.2M-53.7%	-$28.7M+14.3%	-$33.5M-41.2%	-$23.8M
EPS (Basic)	N/A	$5.60+423.4%	$1.07+239.0%	-$0.77+37.4%	-$1.23+23.1%	-$1.60-37.9%	-$1.16	N/A	N/A
EPS (Diluted)	$3.86	$4.87+382.2%	$1.01+231.2%	-$0.77+37.4%	-$1.23+23.1%	-$1.60-37.9%	-$1.16	N/A	N/A
Diluted Shares (Avg)	N/A	41M+15.1%	35M+8.3%	33M+10.0%	30M+7.0%	28M+11.8%	25M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$189.9M+20.7%	$173.9M+21.2%	$160.8M+32.2%	$143.8M+32.2%	$157.4M+37.7%	$143.5M+48.2%	$121.6M+49.8%	$108.8M+63.7%
Cost of Revenue	$76.8M+26.3%	$72.8M+31.6%	$67.3M+35.8%	$59.2M+23.6%	$60.8M+34.9%	$55.3M+49.9%	$49.6M+49.2%	$47.9M+86.0%
Gross Profit	$113.2M+17.2%	$101.2M+14.7%	$93.4M+29.7%	$84.6M+39.0%	$96.6M+39.5%	$88.2M+47.1%	$72.0M+50.3%	$60.8M+49.6%
R&D Expenses	$31.6M+98.5%	$24.9M+45.0%	$20.7M+25.7%	$15.3M+7.0%	$15.9M+15.0%	$17.2M+50.8%	$16.5M+53.0%	$14.3M+28.2%
SG&A Expenses	$57.8M+31.2%	$63.0M+44.4%	$51.4M+9.7%	$46.0M+7.9%	$44.1M+2.8%	$43.6M+20.6%	$46.9M+35.7%	$42.7M+39.2%
Operating Income	$23.7M-35.1%	$13.3M-51.5%	$21.3M+146.1%	$23.3M+493.9%	$36.6M+192.3%	$27.4M+120.9%	$8.6M+232.1%	$3.9M+113.8%
EBITDA	$34.0M-21.5%	$25.2M-25.1%	$28.7M+100.6%	$30.1M+231.3%	$43.3M+153.1%	$33.6M+100.8%	$14.3M+130.7%	$9.1M+134.4%
Interest Expense	$7.2M+107.9%	$7.2M+107.2%	$3.4M-6.1%	$3.5M-3.5%	$3.5M-4.1%	$3.5M-3.8%	$3.6M-0.9%	$3.6M+0.8%
Income Tax	$4.7M+270.4%	$1.2M+17.7%	-$83.8M-63547.0%	-$1.3M-4541.4%	$1.3M+3209.8%	$994K+407.1%	$132K	$29K
Net Income	$14.7M-57.9%	$7.3M-71.5%	$105.4M+1429.0%	$24.3M+476.8%	$34.9M+186.3%	$25.7M+110.6%	$6.9M+69.8%	$4.2M+116.6%
EPS (Basic)	$0.42-59.2%	$0.21-72.4%	$3.10+1376.2%	$0.71+446.2%	$1.03+178.4%	$0.76+105.4%	$0.21+75.0%	$0.13+116.7%
EPS (Diluted)	$0.41-55.4%	$0.20-71.4%	$2.59+1195.0%	$0.66+450.0%	$0.92+162.9%	$0.70+100.0%	$0.20+66.7%	$0.12+115.4%
Diluted Shares (Avg)	41M+0.4%	36M-9.3%	N/A	41M+14.2%	41M+14.9%	40M+15.1%	N/A	36M+9.4%

TMDX Balance Sheet

TMDX quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Total Assets	$1.1B+32.9%	$804.1M+13.9%	$706.0M+154.8%	$277.1M+105.5%	$134.9M-11.3%	$152.0M+44.4%	$105.3M+149.8%	$42.2M
Current Assets	$637.8M+28.3%	$497.2M-2.6%	$510.7M+102.4%	$252.3M+112.5%	$118.7M-19.1%	$146.8M+46.8%	$100.0M+187.4%	$34.8M
Cash & Equivalents	$488.9M+45.0%	$337.1M-14.6%	$394.8M+96.2%	$201.2M+686.5%	$25.6M+4.1%	$24.6M+22.3%	$20.1M-0.7%	$20.2M
Short-Term Investments	$0	$0	$0	$0-100.0%	$66.9M-33.8%	$101.1M+66.8%	$60.6M	$0
Inventory	$48.9M+5.0%	$46.6M+5.2%	$44.2M+114.7%	$20.6M+38.7%	$14.9M+24.5%	$11.9M+6.4%	$11.2M+20.9%	$9.3M
Accounts Receivable	$84.3M-13.8%	$97.7M+53.7%	$63.6M+130.3%	$27.6M+365.3%	$5.9M-13.5%	$6.9M+4.7%	$6.6M+90.8%	$3.4M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$11.5M0.0%	$11.5M-3.7%	$12.0M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$595.3M+3.4%	$575.5M+1.2%	$568.8M+533.7%	$89.8M+33.9%	$67.0M+39.3%	$48.1M-5.0%	$50.6M-78.4%	$234.4M
Current Liabilities	$89.3M+49.1%	$59.9M+9.1%	$54.9M+132.2%	$23.7M+1.8%	$23.2M+95.6%	$11.9M-26.3%	$16.1M+28.4%	$12.6M
Non-Current Liabilities	$506.0M-1.9%	$515.6M+0.3%	$513.9M+677.3%	$66.1M+50.9%	$43.8M+20.8%	$36.3M+5.0%	$34.5M-84.4%	$221.8M
Long-Term Debt	N/A	N/A	N/A	$58.7M+66.8%	$35.2M+1.6%	$34.7M+1.5%	$34.1M+1.4%	$33.7M
Total Equity	$473.1M+107.0%	$228.6M+66.6%	$137.2M-26.8%	$187.4M+176.1%	$67.9M-34.7%	$103.9M+90.1%	$54.6M+128.4%	-$192.2M
Retained Earnings	-$277.9M+40.6%	-$468.2M+7.0%	-$503.7M-5.2%	-$478.7M-8.2%	-$442.4M-11.1%	-$398.2M-7.8%	-$369.5M-10.0%	-$335.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.5B+64.4%	$1.4B+71.3%	$1.1B+32.9%	$946.0M+20.4%	$890.5M+17.4%	$837.5M+15.7%	$804.1M+13.9%	$785.6M+14.0%
Current Assets	$651.1M+16.7%	$619.3M+22.4%	$637.8M+28.3%	$613.0M+24.5%	$558.1M+9.6%	$505.9M+3.6%	$497.2M-2.6%	$492.5M-8.2%
Cash & Equivalents	$491.1M+22.4%	$480.2M+54.6%	$488.9M+45.0%	$466.7M+41.4%	$401.1M+10.6%	$310.6M-11.3%	$337.1M-14.6%	$330.1M-22.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$54.1M+39.3%	$49.9M+15.0%	$48.9M+5.0%	$44.5M-14.7%	$38.9M-20.1%	$43.4M-10.6%	$46.6M+5.2%	$52.2M+32.5%
Accounts Receivable	$104.1M-0.7%	$90.7M-36.1%	$84.3M-13.8%	$80.7M-10.5%	$104.9M+29.2%	$142.0M+73.3%	$97.7M+53.7%	$90.1M+48.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$11.5M0.0%	$11.5M0.0%	$11.5M0.0%	$11.5M0.0%	$11.5M0.0%	$11.5M-3.7%	$11.5M-3.7%	$11.5M-1.1%
Total Liabilities	$946.3M+65.3%	$940.8M+64.7%	$595.3M+3.4%	$590.8M+2.6%	$572.4M+0.7%	$571.2M+1.2%	$575.5M+1.2%	$575.7M+2.3%
Current Liabilities	$98.3M+73.6%	$91.9M+65.3%	$89.3M+49.1%	$79.7M+32.8%	$56.6M+4.2%	$55.6M+10.7%	$59.9M+9.1%	$60.0M+22.3%
Non-Current Liabilities	$848.1M+64.4%	$848.9M+64.6%	$506.0M-1.9%	$511.1M-0.9%	$515.8M+0.3%	$515.6M+0.3%	$515.6M+0.3%	$515.6M+0.4%
Total Equity	$518.1M+62.9%	$494.0M+85.5%	$473.1M+107.0%	$355.2M+69.2%	$318.1M+67.5%	$266.3M+67.0%	$228.6M+66.6%	$209.9M+66.0%
Retained Earnings	-$256.0M+37.2%	-$270.6M+38.8%	-$277.9M+40.6%	-$383.3M+19.3%	-$407.7M+15.0%	-$442.6M+10.0%	-$468.2M+7.0%	-$475.1M+6.4%

Not reported in any period shown, so not listed: Long-Term Debt.

TMDX Cash Flow Statement

TMDX quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Operating Cash Flow	$145.9M	$192.8M+295.1%	$48.8M+474.6%	-$13.0M+71.6%	-$45.8M-58.7%	-$28.9M+4.6%	-$30.3M+6.3%	-$32.3M-24.3%	-$26.0M
Depreciation & Amortization	N/A	$27.2M+37.6%	$19.8M+141.6%	$8.2M+135.1%	$3.5M+91.4%	$1.8M+15.2%	$1.6M+29.1%	$1.2M+58.9%	$769K
Stock-Based Compensation	N/A	$36.9M+10.9%	$33.2M+67.9%	$19.8M+91.8%	$10.3M+50.1%	$6.9M+184.9%	$2.4M+182.7%	$854K+493.1%	$144K
Capital Expenditures	$66.9M	$59.3M-54.3%	$129.7M-14.6%	$151.8M+1175.3%	$11.9M+238.4%	$3.5M+673.4%	$455K+175.8%	$165K-60.5%	$418K
Free Cash Flow	$79.0M	$133.6M+265.0%	-$80.9M+50.9%	-$164.9M-185.6%	-$57.7M-78.3%	-$32.4M-5.4%	-$30.7M+5.3%	-$32.5M-22.9%	-$26.4M
Investing Cash Flow	-$66.9M	-$59.3M+54.2%	-$129.3M+33.3%	-$194.0M-455.8%	$54.5M+86.3%	$29.3M+170.4%	-$41.6M+31.2%	-$60.5M-591.6%	$12.3M
Financing Cash Flow	$11.5M	$16.9M-26.3%	$22.9M-94.3%	$400.4M+138.4%	$167.9M+11955.1%	$1.4M-98.2%	$75.5M-18.5%	$92.7M+320.2%	$22.1M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$17.3M-81.1%	$24.5M+959.3%	$34.5M+75.5%	$69.6M+914.6%	$91.6M+256.2%	-$2.9M+16.9%	$19.7M+136.8%	$6.9M+199.8%
Depreciation & Amortization	$10.2M+52.2%	$11.9M+93.3%	$7.5M+31.5%	$6.8M+32.3%	$6.7M+46.4%	$6.1M+42.7%	$5.7M+57.6%	$5.2M+173.5%
Stock-Based Compensation	$8.6M-8.2%	$10.0M+11.1%	N/A	$9.1M+15.0%	$9.4M+22.6%	$9.0M+30.4%	N/A	$7.9M+53.1%
Capital Expenditures	$7.1M-21.9%	$36.7M+35.6%	$15.5M+14.0%	$7.6M-84.2%	$9.1M-61.8%	$27.0M-38.8%	$13.6M-67.5%	$48.2M-55.3%
Free Cash Flow	$10.2M-87.6%	-$12.1M+59.4%	$19.0M+213.7%	$61.9M+249.8%	$82.5M+4121.7%	-$29.9M+37.2%	$6.1M+118.1%	-$41.3M+63.9%
Investing Cash Flow	-$7.1M+21.9%	-$36.7M-35.6%	-$15.5M-14.0%	-$7.6M+84.0%	-$9.1M+61.8%	-$27.0M+38.8%	-$13.6M+67.5%	-$47.8M+68.1%
Financing Cash Flow	$970K-86.3%	$3.8M+24.2%	$3.1M+161.3%	$3.6M-53.7%	$7.1M-33.4%	$3.0M-4.9%	$1.2M+28.4%	$7.9M+416.2%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

TMDX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TMDX quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K
Gross Margin	59.9%+0.6pp	59.4%-4.4pp	63.8%-6.1pp	69.8%-0.1pp	69.9%+5.0pp	64.9%+6.2pp	58.7%+14.7pp	44.0%
Operating Margin	17.9%+9.4pp	8.5%+20.4pp	-11.9%+21.7pp	-33.6%	-130.3%	-102.9%	-125.4%	-155.5%
Net Margin	31.4%+23.4pp	8.0%+18.4pp	-10.3%+28.4pp	-38.7%	-146.1%	-112.1%	-142.1%	-182.5%
Return on Equity	40.2%+24.7pp	15.5%+33.8pp	-18.2%+1.1pp	-19.3%+45.8pp	-65.1%-37.5pp	-27.7%+33.7pp	-61.4%	N/A
Return on Assets	17.8%+13.4pp	4.4%+8.0pp	-3.5%+9.5pp	-13.1%+19.7pp	-32.8%-13.9pp	-18.9%+13.0pp	-31.9%+24.5pp	-56.4%
Current Ratio	7.14-1.2x	8.30-1.0x	9.30-1.4x	10.66+5.6x	5.11-7.2x	12.36+6.1x	6.21+3.4x	2.77
Debt-to-Equity	1.26-1.3x	2.52-1.6x	4.15+3.8x	0.31-0.2x	0.52+0.2x	0.33-0.3x	0.62	N/A
Asset Turnover	0.570.0x	0.55+0.2x	0.340.0x	0.34+0.1x	0.22+0.1x	0.17-0.1x	0.22-0.1x	0.31
FCF Margin	22.1%+40.4pp	-18.3%+49.9pp	-68.2%-6.5pp	-61.8%	-107.0%	-119.8%	-137.5%	-202.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	59.6%-1.8pp	58.2%-3.3pp	58.1%-1.1pp	58.8%+2.9pp	61.4%+0.8pp	61.5%-0.4pp	59.2%+0.2pp	55.9%-5.3pp
Operating Margin	12.5%-10.7pp	7.6%-11.5pp	13.2%+6.1pp	16.2%+12.6pp	23.2%+12.3pp	19.1%+6.3pp	7.1%+3.9pp	3.6%+46.3pp
Net Margin	7.7%-14.5pp	4.2%-13.7pp	65.6%+59.9pp	16.9%+13.0pp	22.2%+11.5pp	17.9%+5.3pp	5.7%+0.7pp	3.9%+42.1pp
Return on Equity	2.8%-8.1pp	1.5%-8.2pp	22.3%+19.3pp	6.9%+4.8pp	11.0%+4.6pp	9.6%+2.0pp	3.0%+0.1pp	2.0%+22.1pp
Return on Assets	1.0%-2.9pp	0.5%-2.6pp	9.9%+9.0pp	2.6%+2.0pp	3.9%+2.3pp	3.1%+1.4pp	0.9%+0.3pp	0.5%+4.2pp
Current Ratio	6.63-3.2x	6.74-2.4x	7.14-1.2x	7.69-0.5x	9.86+0.5x	9.10-0.6x	8.30-1.0x	8.20-2.7x
Debt-to-Equity	1.830.0x	1.90-0.2x	1.26-1.3x	1.66-1.1x	1.80-1.2x	2.15-1.4x	2.52-1.6x	2.74-1.7x
Asset Turnover	0.130.0x	0.12-0.1x	0.150.0x	0.150.0x	0.180.0x	0.170.0x	0.150.0x	0.140.0x
FCF Margin	5.4%-47.1pp	-7.0%+13.9pp	11.8%+6.8pp	43.1%+81.1pp	52.4%+50.7pp	-20.8%+28.3pp	5.0%+46.3pp	-38.0%

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
TransMedics Group, Inc. TMDX	FY2025	$605.5M	$190.3M	31.4%	$2.7B	57/100
Integer Holdings Corporation ITGR	FY2025	$1.9B	$102.8M	5.5%	$4.3B	58/100
Glaukos Corporation GKOS	FY2025	$507.4M	-$187.7M	-37.0%	$9.8B	51/100
Bruker Corporation BRKR	FY2025	$3.4B	-$8.3M	-0.2%	$9.0B	44/100
LivaNova PLC LIVN	FY2025	$1.4B	-$242.5M	-17.5%	$4.2B	59/100
Inspire Medical Systems, Inc. INSP	FY2025	$912.0M	$145.4M	16.0%	$2.0B	64/100

Where TransMedics Group, Inc. Ranks

Frequently Asked Questions

What is TransMedics Group, Inc.'s annual revenue?

TransMedics Group, Inc. (TMDX) reported $605.5M in total revenue for fiscal year 2025. This represents a 37.1% 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 TransMedics Group, Inc.'s revenue growing?

TransMedics Group, Inc. (TMDX) revenue grew by 37.1% year-over-year, from $441.5M to $605.5M in fiscal year 2025.

Is TransMedics Group, Inc. profitable?

Yes, TransMedics Group, Inc. (TMDX) reported a net income of $190.3M in fiscal year 2025, with a net profit margin of 31.4%.

What is TransMedics Group, Inc.'s EBITDA?

TransMedics Group, Inc. (TMDX) had EBITDA of $135.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is TransMedics Group, Inc.'s gross margin?

TransMedics Group, Inc. (TMDX) had a gross margin of 59.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is TransMedics Group, Inc.'s operating margin?

TransMedics Group, Inc. (TMDX) had an operating margin of 17.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is TransMedics Group, Inc.'s net profit margin?

TransMedics Group, Inc. (TMDX) had a net profit margin of 31.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is TransMedics Group, Inc.'s return on equity (ROE)?

TransMedics Group, Inc. (TMDX) has a return on equity of 40.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is TransMedics Group, Inc.'s free cash flow?

TransMedics Group, Inc. (TMDX) generated $133.6M in free cash flow during fiscal year 2025. This represents a 265.0% 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 TransMedics Group, Inc.'s operating cash flow?

TransMedics Group, Inc. (TMDX) generated $192.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are TransMedics Group, Inc.'s total assets?

TransMedics Group, Inc. (TMDX) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are TransMedics Group, Inc.'s capital expenditures?

TransMedics Group, Inc. (TMDX) invested $59.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does TransMedics Group, Inc. spend on research and development?

TransMedics Group, Inc. (TMDX) invested $69.1M in research and development during fiscal year 2025.

How many shares does TransMedics Group, Inc. have outstanding?

TransMedics Group, Inc. (TMDX) had 34M shares outstanding as of fiscal year 2025.

What is TransMedics Group, Inc.'s current ratio?

TransMedics Group, Inc. (TMDX) had a current ratio of 7.14 as of fiscal year 2025, which is generally considered healthy.

What is TransMedics Group, Inc.'s debt-to-equity ratio?

TransMedics Group, Inc. (TMDX) had a debt-to-equity ratio of 1.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is TransMedics Group, Inc.'s return on assets (ROA)?

TransMedics Group, Inc. (TMDX) had a return on assets of 17.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is TransMedics Group, Inc.'s P/E ratio?

TransMedics Group, Inc. (TMDX) trades at 17.8x earnings, its market capitalization divided by net income of $151.7M net income, trailing 12 months to June 30, 2026. The market capitalization is $2.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is TransMedics Group, Inc.'s price-to-sales ratio?

TransMedics Group, Inc. (TMDX) trades at 4.0x sales, its market capitalization divided by revenue of $668.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is TransMedics Group, Inc.'s Altman Z-Score?

TransMedics Group, Inc. (TMDX) has an Altman Z-Score of 3.88, placing it in the Safe Zone (low bankruptcy 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 TransMedics Group, Inc.'s Piotroski F-Score?

TransMedics Group, Inc. (TMDX) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are TransMedics Group, Inc.'s earnings high quality?

TransMedics Group, Inc. (TMDX) has an earnings quality ratio of 1.01x, considered cash-backed (high quality). 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 TransMedics Group, Inc. cover its interest payments?

TransMedics Group, Inc. (TMDX) has an interest coverage ratio of 7.88x, 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 TransMedics Group, Inc.?

TransMedics Group, Inc. (TMDX) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.