A Business at a Glance
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TACTILE SYSTEMS TECHNOLOGY INC
TCMD
$640M
Mkt Cap
$27.48
+0.15%
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a current P/E ratio of 33.5, compared to its historical median P/E of 30.4. The stock is currently considered Fair based on its historical valuation range.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a 5-year average return on invested capital (ROIC) of 3.6%. This is below average and may indicate limited pricing power.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a market capitalization of $624M. It is classified as a small-cap stock.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.82%.
Based on historical P/E analysis, TACTILE SYSTEMS TECHNOLOGY INC (TCMD) appears fair. The current P/E of 33.5 is 10% above its historical median of 30.4. The estimated fair value CAGR (P/E method) is 19.8%.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
Tactile Systems Technology, Inc. (“we,” “us,” and “our”) is a medical technology company that develops and provides innovative medical devices for the treatment of underserved chronic diseases. We were originally incorporated in Minnesota under the name Tactile Systems Technology, Inc. on January 30, 1995. During 2006, we established a merger corporation and subsequently, on July 21, 2006, merged with and into this merger corporation resulting in us being reincorporated as a Delaware corporation. The resulting corporation assumed the name Tactile Systems Technology, Inc. and in September 2013, we began doing business as “Tactile Medical”. Our mission is to help people suffering from chronic diseases live better and care for themselves at home. We focus our efforts on advancing the standard of care in treating underserved chronic diseases in the home to improve patient outcomes and quality of life and help control rising healthcare expenditures.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 344M | 330M | 293M | 274M | 247M | 208M |
| Net Income | 20M | 19M | 17M | 29M | -18M | -12M |
| EPS | $0.91 | $0.82 | $0.70 | $1.23 | $-0.89 | $-0.60 |
| Free Cash Flow | 39M | 40M | 38M | 34M | 3.4M | 528K |
| ROIC | 13.3% | 10.9% | 9.7% | 10.9% | -12.0% | -1.4% |
| Gross Margin | 76.4% | 75.9% | 74.0% | 71.1% | 71.3% | 71.2% |
| Debt/Equity | 0.00 | 0.19 | 0.21 | 0.26 | 0.59 | 0.63 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 32M | 29M | 22M | 18M | -13M | -1.8M |
| Operating Margin | 9.4% | 8.9% | 7.6% | 6.6% | -5.2% | -0.8% |
| ROE | 9.3% | 8.8% | 8.3% | 18.1% | -14.3% | -9.3% |
| Shares Outstanding | 23M | 23M | 24M | 23M | 20M | 20M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 48M | 63M | 85M | 109M | 144M | 189M | 187M | 208M | 247M | 274M | 293M | 330M | 344M |
| Gross Margin | 73.4% | 73.1% | 72.9% | 73.4% | 71.1% | 70.8% | 71.0% | 71.2% | 71.3% | 71.1% | 74.0% | 75.9% | 76.4% |
| R&D | 2.8M | 4.3M | 4.5M | 5.1M | 5.3M | 5.2M | 5.3M | 5.7M | 7.1M | 7.8M | 8.8M | 8.5M | 9.5M |
| SG&A | 10M | 14M | 19M | 27M | 34M | 39M | 51M | 57M | 61M | 62M | 71M | 89M | 92M |
| EBIT | 3.8M | 3.5M | 4.3M | 3.9M | 3.0M | 10M | -3.6M | -1.8M | -13M | 18M | 22M | 29M | 32M |
| Op. Margin | 8.0% | 5.5% | 5.1% | 3.6% | 2.1% | 5.5% | -1.9% | -0.8% | -5.2% | 6.6% | 7.6% | 8.9% | 9.4% |
| Net Income | 2.1M | 1.4M | 1.6M | 5.9M | 6.6M | 11M | -620K | -12M | -18M | 29M | 17M | 19M | 20M |
| Net Margin | 4.3% | 2.2% | 1.9% | 5.4% | 4.6% | 5.8% | -0.3% | -5.7% | -7.2% | 10.4% | 5.8% | 5.8% | 5.9% |
| Non-Recurring | 0 | 0 | 0 | 0 | 2.5M | 0 | 4.0M | -20K | -20K | -3K | -308K | -78K | -78K |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 11.1% | 11.4% | 16.0% | 8.3% | 16.3% | -0.5% | -1.4% | -12.0% | 10.9% | 9.7% | 10.9% | 13.3% |
| ROE | -30.6% | -23.1% | 6.0% | 8.8% | 8.2% | 10.9% | -0.5% | -9.3% | -14.3% | 18.1% | 8.3% | 8.8% | 9.3% |
| ROA | N/A | 7.5% | 2.9% | 7.2% | 6.8% | 8.5% | -0.4% | -5.6% | -7.2% | 10.6% | 5.9% | 6.7% | 7.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -991K | 2.4M | 7.0M | 4.2M | 9.0M | 2.5M | 2.8M | 2.6M | 5.2M | 36M | 41M | 43M | 42M |
| Free Cash Flow | -1.3M | 1.8M | 6.3M | 446K | 4.8M | -2.9M | 735K | 528K | 3.4M | 34M | 38M | 40M | 39M |
| Owner Earnings | -1.8M | 1.3M | 4.3M | -1.8M | -2.7M | -11M | -11M | -11M | -11M | 22M | 26M | 28M | 27M |
| CapEx | 353K | 592K | 775K | 3.7M | 4.2M | 5.4M | 2.1M | 2.1M | 1.8M | 2.3M | 2.4M | 2.4M | 2.8M |
| Maint. CapEx | 706K | 827K | 799K | 1.8M | 3.7M | 3.5M | 2.8M | 3.7M | 6.3M | 6.5M | 6.8M | 6.6M | 6.6M |
| Growth CapEx | 0 | 0 | 0 | 1.9M | 459K | 1.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 706K | 827K | 799K | 1.8M | 3.7M | 3.5M | 2.8M | 3.7M | 6.3M | 6.5M | 6.8M | 6.6M | 6.6M |
| CapEx/OCF | N/A | N/A | 11.0% | 89.4% | 46.6% | 217.0% | 73.7% | 79.9% | 34.2% | 6.5% | 5.9% | 5.6% | 6.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 8.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | 4.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 493K | 2.7M | 0 | 0 | 0 | 0 | 0 | 3.5M | 27M | 18M |
| Buyback Yield | 0.0% | N/A | N/A | 0.1% | N/A | N/A | N/A | N/A | N/A | N/A | 0.8% | 3.8% | 2.8% |
| Stock-Based Comp | 148K | 316K | 1.9M | 4.2M | 8.0M | 9.8M | 11M | 10M | 9.6M | 7.5M | 7.8M | 8.4M | 8.1M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 188K | 39K | 125K | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -5.4M | -7.0M | -40M | N/A | -46M | -29M | -26M | 52M | 50M | -11M | -49M | -41M | -75M |
| Cash & Equiv. | 5.4M | 7.1M | 31M | 24M | 20M | 23M | 48M | 28M | 22M | 61M | 94M | 83M | 75M |
| Long-Term Debt | 9K | 13K | N/A | N/A | N/A | N/A | N/A | 27M | 21M | 26M | 23M | 0 | N/A |
| Debt/Equity | -0.00 | -0.00 | 0.03 | 0.22 | 0.00 | 0.15 | 0.17 | 0.63 | 0.59 | 0.26 | 0.21 | 0.19 | 0.00 |
| Interest Coverage | 3799.0 | 3451.0 | N/A | N/A | 14.9 | 3499.3 | -67.2 | -5.1 | -4.6 | 4.4 | 10.6 | 28.2 | 28.2 |
| Equity | -6.4M | -5.6M | 60M | 73M | 89M | 113M | 125M | 128M | 121M | 194M | 217M | 219M | 218M |
| Total Assets | N/A | 37M | 74M | 88M | 107M | 152M | 174M | 244M | 255M | 281M | 298M | 274M | 272M |
| Total Liabilities | N/A | 9.7M | 14M | 16M | 18M | 39M | 49M | 116M | 134M | 88M | 81M | 55M | 54M |
| Intangibles | N/A | N/A | N/A | 2.2M | 5.3M | 5.3M | 1.7M | 54M | 50M | 47M | 43M | 39M | 42M |
| Retained Earnings | N/A | -5.7M | -2.8M | 3.1M | 9.7M | 21M | 20M | 8.2M | -9.6M | 19M | 36M | 55M | 53M |
| Working Capital | N/A | 20M | 50M | 62M | 69M | 87M | 97M | 79M | 55M | 104M | 137M | 124M | 117M |
| Current Assets | N/A | 29M | 64M | 77M | 85M | 108M | 124M | 114M | 120M | 145M | 178M | 165M | 153M |
| Current Liabilities | N/A | 9.5M | 14M | 15M | 16M | 21M | 27M | 34M | 64M | 41M | 41M | 41M | 36M |
| Per Share Data | |||||||||||||
| EPS | 0.02 | 0.43 | 0.15 | 0.31 | 0.34 | 0.56 | -0.03 | -0.60 | -0.89 | 1.23 | 0.70 | 0.82 | 0.91 |
| Owner EPS | -0.02 | 0.39 | 0.40 | -0.10 | -0.14 | -0.55 | -0.52 | -0.57 | -0.53 | 0.94 | 1.07 | 1.19 | 1.21 |
| Book Value | -0.06 | -1.75 | 5.48 | 3.85 | 4.58 | 5.75 | 6.04 | 6.51 | 6.05 | 8.35 | 8.94 | 9.40 | 9.59 |
| Cash Flow/Share | -0.01 | 0.74 | 0.65 | 0.22 | 0.46 | 0.13 | 0.14 | 0.13 | 0.26 | 1.55 | 1.68 | 1.84 | 1.18 |
| Dividends/Share | N/A | N/A | 0.75 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 103.5M | 3.2M | 10.9M | 18.9M | 19.5M | 19.6M | 20.7M | 19.7M | 20.1M | 23.2M | 24.2M | 23.3M | 22.7M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 108.3 | 97.1 | 128.9 | 122.0 | N/A | N/A | N/A | 11.9 | 24.6 | 36.2 | 30.3 |
| P/FCF | N/A | N/A | 28.3 | N/A | 177.5 | N/A | N/A | 737.4 | 69.6 | 10.1 | 10.9 | 17.1 | 15.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.7 | 11.6 | 17.9 | 17.0 |
| Price/Book | N/A | N/A | 3.0 | 7.8 | 9.6 | 11.9 | 7.0 | 3.0 | 2.0 | 1.7 | 1.9 | 3.2 | 2.9 |
| Price/Sales | N/A | N/A | 2.1 | 4.3 | 6.5 | 5.8 | 4.9 | 4.3 | 1.0 | 1.4 | 1.2 | 1.1 | 1.8 |
| FCF Yield | N/A | N/A | 3.5% | 0.1% | 0.6% | -0.2% | 0.1% | 0.1% | 1.4% | 9.9% | 9.2% | 5.9% | 6.3% |
| Market Cap | 0 | N/A | 177M | 568M | 854M | 1.3B | 870M | 389M | 239M | 338M | 418M | 690M | 624M |
| Avg. Price | 0.00 | N/A | 16.50 | 24.96 | 48.03 | 55.67 | 44.30 | 45.39 | 11.90 | 16.65 | 14.37 | 15.22 | 27.48 |
| Year-End Price | 0.00 | N/A | 16.25 | 30.09 | 43.83 | 68.33 | 42.11 | 19.78 | 11.89 | 14.58 | 17.25 | 29.66 | 27.48 |
TACTILE SYSTEMS TECHNOLOGY INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
TACTILE SYSTEMS TECHNOLOGY INC trades at 33.5x trailing earnings, compared to its 15-year median P/E of 30.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.3x vs a median of 17.1x. The company's 5-year average ROIC is 3.6% with a gross margin of 72.7%. Total shareholder yield (buybacks) is 2.8%. At current prices, the estimated annualized return to fair value is +85.2%.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) reported annual revenue of $330 million in its most recent fiscal year, based on SEC EDGAR filings.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a net profit margin of 5.8%. This is a modest margin.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) generated $40 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a debt-to-equity ratio of 0.19. This indicates a conservatively financed balance sheet.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) reported earnings per share (EPS) of $0.82 in its most recent fiscal year.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a return on equity (ROE) of 8.8%. This indicates moderate shareholder returns.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a 5-year average gross margin of 72.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for TACTILE SYSTEMS TECHNOLOGY INC (TCMD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TACTILE SYSTEMS TECHNOLOGY INC (TCMD) has a book value per share of $9.40, based on its most recent annual SEC filing.