Tandem Diabetes Care (TNDM) Stock Fundamentals, Analysis & Risk Signals

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

Tandem Diabetes Care

NasdaqGM•Healthcare•Medical Devices

$19.90-0.53(-0.03%)Market closed

Market Cap

$1.16B

P/S

1.1x

P/B

8.9x

Tandem Diabetes Care, Inc. designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. It's flagship products are the t:slim X2 insulin delivery system; and Tandem Mobi insulin pump, an automated insulin delivery system. The company also sells single-use products, including cartridges for storing and delivering insulin, and infusion sets that connect the insulin pump to the user's body. In addition, it offers Tandem Device Updater used to update the pump software from a personal computer; Tandem Source, a web-based data management platform, which provides a visual way to display diabetes therapy management data from the pumps, integrated CGMs; and Sugarmate, a mobile app used to help people visualize diabetes therapy data. The company has collaboration agreement with the University of Virginia Center for Diabetes Technology for research and development of fully automated closed-loop insulin delivery systems. The company was formerly known as Phluid Inc. and changed its name to Tandem Diabetes Care, Inc. in January 2008. Tandem Diabetes Care, Inc. was incorporated in 2006 and is headquartered in San Diego, California.

How this company scores

WeakMetricSide Score: 37/100

Grade capped at D — Interest coverage below 1× (-4.7x) — earnings cannot cover interest. Strongest: Profitability (17/25); weakest: Balance Sheet & Red Flags (1/25).

Profitability17/25

Growth14/25

Balance Sheet & Red Flags1/25

Cash & Earnings Quality5/25

Strengths

Long cash runwayProfit converts from growthConsistent growthImproving margins

Grade capped at D

Interest coverage below 1× (-4.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/E · 1264.2x5y range 348.1x – 1264.2x

P/S · 1.1x5y range 0.8x – 13.8x

Currently below its 20-quarter median.

P/B · 8.9x5y range 4.3x – 22.3x

Watch items

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

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

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 $1.16B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $1.04B
Q. Revenue: $254.56M
TTM EBITDA: $-18.97M
TTM Op. Income: $-45.80M
Q. Op. Income: $-13.79M
TTM Net Income: $-63.31M
Q. Net Income: $-21.17M
EPS: $-0.31
Shares Out.: $69.01M

$1.04B in TTM revenue grew 4.0% YoY, reaching $254.56M last quarter. TTM EBITDA of $-18.97M and TTM operating income of $-45.80M show growth is flowing through to the bottom line. However, net income is negative at $63.31M — growth is not yet reaching the bottom line. 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: 56.9%
EBITDA Margin: -3.7%
Op. Margin: -5.4%
Net Margin: -8.3%

Op. margin of -5.4% is up 16.1% YoY — cost efficiency is improving. Net margin at -8.3% and gross margin of 56.9% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 75% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 1.1x
P/B Ratio: 8.9x

P/S of 1.1x and P/B of 8.9x. P/S is low relative to typical market levels.

Assets & Liabilities

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

Total Assets: $1.15B
Cash: $62.82M
Long-Term Debt: $602.58M
Book Value: $130.39M
D/E Ratio: 4.6
Debt/EBITDA: N/A

With $1.15B in assets and $602.58M in long-term debt, D/E is 4.6and book value is $130.39M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow: $-34.63M
TTM Free Cash Flow: $-26.62M
FCF Margin: -2.6%
FCF / Net Income: 0.4

TTM FCF of $-26.62M on $-34.63M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 243% — a weakening trend.