Treace Medical CONCEPTS, Inc. (TMCI) intrinsic value & 10-year financials
Treace Medical CONCEPTS, Inc. (TMCI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 32.4% a year to $212.7M, with an average return on invested capital of -47.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.87
- Market cap
- $244.9M
- Revenue (FY2025)
- $212.7M
- Revenue growth (8-yr CAGR)
- 32.4%
- ROIC (10-yr avg)
- -47.8%
- Free cash flow (FY2025)
- -$29.5M
TMCI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $212.7M | -$59.0M | -$0.93 | -$29.5M | -25.5% | -34.0% |
| FY2024 | $209.4M | -$55.7M | -$0.90 | -$48.8M | -26.6% | -30.5% |
| FY2023 | $187.1M | -$49.5M | -$0.81 | -$46.0M | -27.5% | -33.9% |
| FY2022 | $141.8M | -$42.8M | -$0.77 | -$45.5M | -24.6% | -55.3% |
| FY2021 | $94.4M | -$20.6M | -$0.43 | -$19.9M | -17.5% | -109.1% |
| FY2020 | $57.4M | -$3.7M | -$0.12 | -$5.6M | 1.5% | 6.3% |
| FY2019 | $39.4M | -$4.3M | — | -$8.9M | -9.0% | -77.6% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TREACE MEDICAL CONCEPTS, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
TREACE MEDICAL CONCEPTS, INC. has historically struggled to out-earn its cost of capital, averaging just -47.7% ROIC.
TREACE MEDICAL CONCEPTS, INC. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TREACE MEDICAL CONCEPTS, INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-30.89 per share.