TransMedics Group, Inc.

Worth knowing

• Profit looks boosted by one-off gains. Reported profit is 1.3× operating cash profit (EBITDA), lifted by income outside the core business.Reported profit is 1.3× operating cash profit, lifted by income outside the core business.

  TransMedics's reported profit is 1.3× its operating cash profit (EBITDA), which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.TransMedics's reported profit is 1.3× its operating cash profit, which is unusual: normally it's the other way round. Income outside the core business, such as interest on a large cash pile, gains on investments or asset sales, or tax items, has lifted net income, so its earnings-based valuation may look cheaper than the business alone justifies.

• Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $26M in 2020 to $605M in 2025.

  TransMedics's fiscal-year revenue rose in each of the five years to 2025, from $26M to $605M.

• Fast revenue growth. Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 83% of peers.

  Revenue grew 26% in the 12 months to June 2026 vs the 12 months before, faster than 83% of its peers.

• More volatile share price. Beta 1.88: tends to move more than the market.

  TransMedics's shares have swung more with the market than most peers' (beta 1.88, above the market's 1.0).