Tandem Diabetes Care Inc. (TNDM) intrinsic value & 10-year financials
Tandem Diabetes Care Inc. (TNDM) has a Graham intrinsic value of $7.97 per share. At $16.24 on Oct 17, 2026, the stock trades 104% above that value. Over the last 10 fiscal years revenue grew 31.9% a year to $1.0B, with an average return on invested capital of -67.1%.
- Graham intrinsic value
- $7.97
- Share price (Oct 17, 2026)
- $16.24
- Price vs Graham value
- 104% above
- Market cap
- $1.1B
- Revenue (FY2025)
- $1.0B
- Revenue growth (10-yr CAGR)
- 31.9%
- ROIC (10-yr avg)
- -67.1%
- Free cash flow (FY2025)
- -$29.7M
TNDM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.0B | -$204.7M | -$3.04 | -$29.7M | -18.5% | -32.9% |
| FY2024 | $940.2M | -$96.0M | -$1.47 | $5.0M | -10.5% | -15.2% |
| FY2023 | $747.7M | -$222.6M | -$3.43 | -$58.6M | -31.2% | -44.7% |
| FY2022 | $801.2M | -$94.6M | -$1.47 | $16.4M | -11.6% | -23.9% |
| FY2021 | $702.8M | $15.6M | $0.24 | $97.2M | 3.2% | 6.6% |
| FY2020 | $498.8M | -$34.4M | -$0.56 | -$2.7M | -1.6% | -3.4% |
| FY2019 | $362.3M | -$24.8M | -$0.42 | $22.4M | -4.6% | -10.6% |
| FY2018 | $183.9M | -$122.6M | — | -$11.3M | -24.3% | -111.9% |
| FY2017 | $107.6M | -$73.0M | — | -$71.9M | -58.5% | -178.9% |
| FY2016 | $84.2M | -$83.4M | — | -$70.1M | -92.6% | -256.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TANDEM DIABETES CARE INC is a consistent compounder, expanding top-line revenue at 31.9% annually over the past decade.
TANDEM DIABETES CARE INC has historically struggled to out-earn its cost of capital, averaging just -24.0% ROIC.
Over the decade, TANDEM DIABETES CARE INC shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TANDEM DIABETES CARE INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.97 per share.