TransMedics Group (TMDX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

TransMedics Group

NasdaqGM•Healthcare•Medical Devices

$87.56-0.53(-0.01%)Pre-market

Market Cap

$2.99B

P/E

19.7x

P/S

4.5x

P/B

5.8x

TransMedics Group, Inc., a commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally. The company provides Organ Care System (OCS), a portable organ perfusion, optimization, and monitoring system that utilizes its proprietary and customized technology to replicate near-physiologic conditions for donor organs outside of the human body. Its OCS includes OCS LUNG for the preservation of standard criteria donor lungs for double-lung transplantation; OCS Heart, a technology for preservation of DBD donor hearts deemed unsuitable due to limitations of cold storage and for ex vivo reanimation, functional monitoring, and beating-heart preservation of donation-after-circulatory-death hearts; and OCS Liver for the preservation of DBD and DCD of donor livers. The company also developed national OCS program, a turnkey solution for outsourced organ retrieval; and provides OCS organ management and logistics services, including aviation and ground transportation, and other coordination activity. The company was founded in 1998 and is headquartered in Andover, Massachusetts.

How this company scores

ExcellentMetricSide Score: 84/100

Strongest: Profitability (23/25); weakest: Cash & Earnings Quality (18/25).

Profitability23/25

Growth23/25

Balance Sheet & Red Flags20/25

Cash & Earnings Quality18/25

Strengths

Growing revenueRising free cash flowHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.7x5y range 18.9x – 1662.8x

Currently below its 9-quarter median.

P/S · 4.5x5y range 4.5x – 31.2x

Currently below its 20-quarter median.

P/B · 5.8x5y range 5.8x – 26.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 6.6% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.7x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $2.99B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $668.47M
Q. Revenue: $189.95M
TTM EBITDA: $118.03M
TTM Op. Income: $81.61M
Q. Op. Income: $23.74M
TTM Net Income: $151.70M
Q. Net Income: $14.68M
EPS: $0.42
Shares Out.: $34.58M

$668.47M in TTM revenue grew 25.8% YoY, reaching $189.95M last quarter. TTM EBITDA of $118.03M and TTM operating income of $81.61M show growth is flowing through to the bottom line. TTM net income of $151.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 59.6%
EBITDA Margin: 17.9%
Op. Margin: 12.5%
Net Margin: 7.7%

Op. margin of 12.5% is down 10.7% YoY — costs are rising relative to revenue. Net margin at 7.7% and gross margin of 59.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 46% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 19.7x
P/S Ratio: 4.5x
P/B Ratio: 5.8x

At 19.7x P/E, the stock trades within typical market levels. P/S of 4.5x and P/B of 5.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 69% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.46B
Cash: $472.68M
Long-Term Debt: $454.26M
Book Value: $518.05M
D/E Ratio: 0.9
Debt/EBITDA: 13.4

With $1.46B in assets and $454.26M in long-term debt, D/E is 0.9and book value is $518.05M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $17.31M
TTM Free Cash Flow: $79.04M
FCF Margin: 11.8%
FCF / Net Income: 0.5

TTM FCF of $79.04M on $17.31M in operating cash flow. The FCF / Net Income ratio of 0.5x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 356% — a weakening trend.