TransMedics Group, Inc. TMDX R2K
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.
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Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Strong return on equity of 45.2%.
- Excellent profit margin of 27.0%.
- Compounding revenue at 86.4% over 5 years.
- Profit CAGR of 208.4% over 5 years.
- Generates positive free cash flow.
CONS
- Trading 55.3% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | TMDX TransMedics Group, Inc. R2K | 67.20 | 15.38 | $2.32B | - | 12.39% | 45.22% | 86.42% | 208.41% |
| 2 | LLY Eli Lilly and Company SPX | 1,105.00 | 39.21 | $985.37B | 0.63% | 38.44% | 107.46% | 31.69% | 48.96% |
| 3 | JNJ Johnson & Johnson SPX | 225.33 | 26.11 | $542.42B | 2.38% | 23.13% | 26.42% | 5.60% | 14.32% |
| 4 | UNH UnitedHealth Group Incorporated SPX | 380.31 | 28.66 | $345.38B | 2.32% | 9.60% | 12.18% | 11.35% | -15.69% |
| 5 | MRK Merck & Co., Inc. SPX | 118.72 | 33.44 | $293.22B | 2.86% | 20.66% | 18.94% | 3.12% | 7.93% |
| 6 | TMO Thermo Fisher Scientific Inc. SPX | 492.51 | 27.11 | $183.03B | 0.38% | 9.17% | 13.52% | -0.27% | -1.19% |
| 7 | AMGN Amgen Inc. NDXSPX | 336.79 | 23.42 | $181.77B | 2.99% | 18.02% | 101.32% | 11.77% | 5.58% |
| 8 | GILD Gilead Sciences, Inc. NDXSPX | 134.43 | 18.29 | $166.90B | 2.44% | 22.92% | 43.36% | 2.57% | 22.83% |
| 9 | ISRG Intuitive Surgical, Inc. NDXSPXAI | 424.64 | 51.53 | $150.39B | - | 15.96% | 17.23% | 17.39% | 29.26% |
Quarterly Results
Figures in USD.
| Metric | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.76M | 3.26M | 4.75M | - | 5.29M | 6.21M | 7.88M | - | 8.24M | 3.92M | 7.97M | - | 7.64M | 8.67M | 5.41M | 15.88M | 20.52M | 24.30M | - | - | - | - | - | - | 143.54M | 157.37M | 143.82M | 160.76M | 173.93M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 55.31M | 60.78M | 59.25M | 67.35M | 72.77M |
| Gross Profit | 924.00K | 1.18M | 2.13M | 1.50M | 2.57M | 3.33M | 4.22M | 3.74M | 4.86M | 1.91M | 5.04M | 4.83M | 4.81M | 5.59M | 3.77M | 12.10M | 14.35M | 18.11M | 28.77M | 36.74M | 40.66M | 59.96M | 69.26M | - | 88.23M | 96.59M | 84.58M | 93.41M | 101.16M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 60.78M | 60.02M | 61.27M | 72.14M | 87.86M |
| Operating Income | -4.78M | -5.16M | -3.94M | -6.36M | -5.96M | -7.71M | -7.24M | -8.69M | -8.02M | -7.86M | -4.61M | -5.90M | -6.51M | -9.87M | -11.72M | -9.37M | -9.74M | -5.54M | -2.09M | -906.00K | -28.34M | 12.42M | 12.51M | - | 27.44M | 36.57M | 23.30M | 21.27M | 13.30M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 36.27M | 46.39M | 33.37M | 32.45M | 27.52M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.46M | 3.48M | 3.49M | 3.35M | 7.17M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 26.68M | 36.18M | 23.03M | 21.63M | 8.48M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 994.00K | 1.27M | -1.29M | -83.75M | 1.17M |
| Net Income | -4.90M | -6.12M | -5.11M | -7.63M | -6.89M | -9.20M | -8.28M | -9.18M | -8.85M | -8.50M | -5.09M | -6.31M | -7.92M | -10.67M | -12.96M | -10.56M | -11.52M | -7.43M | -2.64M | -1.00M | -25.42M | 12.20M | 12.19M | - | 25.68M | 34.91M | 24.32M | 105.38M | 7.32M |
| Diluted EPS | - | - | - | - | - | - | - | - | -0.42 | -0.36 | -0.19 | - | -0.29 | -0.39 | -0.47 | -0.38 | -0.41 | -0.25 | -0.08 | -0.03 | -0.78 | 0.35 | 0.35 | - | 0.70 | 0.92 | 0.66 | 2.62 | 0.20 |
| R&D Expense | 3.46M | 3.43M | 3.27M | - | 3.88M | 4.79M | 4.94M | - | 6.22M | 3.90M | 4.16M | - | 4.53M | 6.29M | 5.16M | 7.53M | 6.71M | 6.81M | 5.87M | 8.29M | 11.13M | 11.38M | 13.86M | 14.27M | 17.16M | 15.93M | 15.26M | - | 24.88M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.66M | 25.84M | 28.36M | - | 93.46M | 241.62M | 441.54M | 605.49M |
| Cost of Revenue | - | - | - | - | 28.19M | 87.53M | 179.46M | 242.69M |
| Gross Profit | 5.73M | 13.86M | 16.64M | - | 65.27M | 154.09M | 262.08M | 362.81M |
| Operating Expenses | - | - | - | - | 96.71M | 182.82M | 224.59M | 254.22M |
| Operating Income | -20.24M | -29.60M | -26.38M | - | -31.44M | -28.73M | 37.50M | 108.58M |
| EBITDA | - | - | - | - | -28.96M | -7.70M | 69.95M | 148.49M |
| Interest Expense | - | - | - | - | 3.73M | 10.79M | 14.41M | 13.78M |
| Pretax Income | - | - | - | - | -36.16M | -26.67M | 35.78M | 107.52M |
| Tax Provision | - | - | - | - | 66.00K | -1.64M | 316.00K | -82.77M |
| Net Income | -23.76M | -33.55M | -28.75M | - | -36.23M | -25.03M | 35.46M | 190.29M |
| Diluted EPS | - | - | -1.16 | - | -1.23 | -0.77 | 1.07 | 4.87 |
| R&D Expense | 13.66M | 19.87M | 18.83M | 22.30M | 26.81M | 36.05M | 55.97M | 69.06M |
Compounded Sales Growth
| 5 Years: | 86.42% |
| 1 Year: | 21.20% |
Compounded Profit Growth
| 5 Years: | 208.41% |
| 1 Year: | -71.50% |
Stock Price Performance
| 1 Year: | -47.14% |
| 6 Months: | -53.97% |
| 3 Months: | -53.74% |
| 1 Month: | -31.83% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | 42.16M | 105.30M | 152.03M | - | 277.15M | 706.05M | 804.08M | 1.07B |
| Current Assets | - | - | - | - | - | 252.29M | 510.65M | 497.22M | 637.78M |
| Cash & Equivalents | - | 20.24M | 20.09M | 24.58M | - | 201.18M | 394.81M | 336.65M | 488.37M |
| Inventory | - | - | - | - | - | 20.61M | 44.23M | 46.55M | 48.88M |
| Receivables | - | - | - | - | - | 27.61M | 63.58M | 97.72M | 84.28M |
| Total Liabilities | - | 47.88M | 50.65M | 48.13M | - | 89.77M | 568.85M | 575.47M | 595.27M |
| Current Liabilities | - | 12.55M | 16.11M | 11.88M | - | 23.66M | 54.93M | 59.91M | 89.31M |
| Long Term Debt | - | 33.67M | 34.15M | 34.66M | - | 58.70M | 506.20M | 509.31M | 502.39M |
| Total Debt | - | - | - | - | - | 67.56M | 515.95M | 518.29M | 519.28M |
| Total Equity | -168.72M | -192.24M | 54.65M | 103.89M | - | 187.38M | 137.20M | 228.60M | 473.10M |
| Shares Outstanding | - | - | - | - | - | 32.14M | 32.67M | 33.62M | 34.27M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -25.98M | -32.29M | -30.27M | - | -45.82M | -13.03M | 48.80M | 192.84M |
| Investing Cash Flow | 12.31M | -60.50M | -41.60M | - | 54.51M | -193.95M | -129.30M | -59.25M |
| Financing Cash Flow | 22.06M | 92.72M | 75.55M | - | 167.93M | 400.42M | 22.87M | 16.86M |
| Capital Expenditure | -418.00K | -165.00K | -455.00K | - | -11.91M | -179.06M | -129.74M | -59.25M |
| Free Cash Flow | -26.40M | -32.45M | -30.72M | - | -57.72M | -192.09M | -80.94M | 133.59M |
| Net Change in Cash | - | - | - | - | 176.62M | 193.44M | -57.63M | 150.45M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 39.1% | 53.6% | 58.7% | - | 69.8% | 63.8% | 59.4% | 59.9% |
| Operating Margin % | -138.1% | -114.5% | -93.0% | - | -33.6% | -11.9% | 8.5% | 17.9% |
| Net Margin % | -162.1% | -129.8% | -101.4% | - | -38.8% | -10.4% | 8.0% | 31.4% |
| ROE % | 12.4% | -61.4% | -27.7% | - | -19.3% | -18.2% | 15.5% | 40.2% |
| ROCE % | -68.4% | -33.2% | -18.8% | - | -12.4% | -4.4% | 5.0% | 11.1% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 15.32% | 5.29M | $355.71M |
| 2 | FMR, LLC | 14.75% | 5.10M | $342.47M |
| 3 | Vanguard Portfolio Management LLC | 5.55% | 1.92M | $128.99M |
| 4 | Vanguard Capital Management LLC | 4.28% | 1.48M | $99.33M |
| 5 | State Street Corporation | 3.82% | 1.32M | $88.67M |
| 6 | Invesco Ltd. | 3.00% | 1.04M | $69.75M |
| 7 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 2.72% | 939.52K | $63.14M |
| 8 | Nomura Asset Management International Inc | 2.56% | 885.84K | $59.53M |
| 9 | Goldman Sachs Group Inc | 2.51% | 866.28K | $58.21M |
| 10 | Geode Capital Management, LLC | 2.43% | 839.15K | $56.39M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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