TransMedics Group, Inc. (TMDX) intrinsic value & 10-year financials
TransMedics Group, Inc. (TMDX) has a Graham intrinsic value of $161.76 per share. At $70.78 on Oct 17, 2026, the stock trades 56% below that value. Over the last 9 fiscal years revenue grew 70.2% a year to $605.5M, with an average return on invested capital of -32.1%.
- Graham intrinsic value
- $161.76
- Share price (Oct 17, 2026)
- $70.78
- Price vs Graham value
- 56% below
- Market cap
- $2.9B
- Revenue (FY2025)
- $605.5M
- Revenue growth (9-yr CAGR)
- 70.2%
- ROIC (10-yr avg)
- -32.1%
- Free cash flow (FY2025)
- $133.6M
TMDX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $605.5M | $190.3M | $4.87 | $133.6M | 17.9% | -209.8% |
| FY2024 | $441.5M | $35.5M | $1.01 | -$80.9M | 8.5% | -21.1% |
| FY2023 | $241.6M | -$25.0M | -$0.77 | -$164.9M | -11.9% | 27.2% |
| FY2022 | $93.5M | -$36.2M | -$1.23 | -$57.7M | -33.6% | -45.4% |
| FY2021 | $31.4M | -$44.2M | -$1.60 | -$32.4M | -125.6% | -44.2% |
| FY2020 | $28.4M | -$28.7M | -$1.16 | -$30.7M | -93.0% | -28.9% |
| FY2019 | $25.8M | -$33.5M | — | -$32.5M | -114.5% | 53.8% |
| FY2018 | $14.7M | -$23.8M | — | -$26.4M | -138.1% | 11.3% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TransMedics Group, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
TransMedics Group, Inc. has historically struggled to out-earn its cost of capital, averaging just -6.2% ROIC.
TransMedics Group, 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, TransMedics Group, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $161.76 per share.