# Treace Medical Concepts Inc. (TMCI) fundamentals

Data as of 2026-11-10. NASDAQ, United States. Sector: Healthcare / Medical Devices & Supplies. Price $4.88, market value $320 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Treace Medical Concepts Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 1.6×**. Each dollar of revenue is priced at 1.6×.
- **Price / book: 3.6×**. The shares trade at 3.6× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -5.8%** (5-yr avg -8.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 79.6%**. Treace Medical Concepts Inc. keeps 79.6% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -24.4%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -27.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -67.6%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -29.2%**. Return on all capital, debt included, is -29.2%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -29.3%**. Each dollar of assets produces -29.3% of profit.

## Growth
- **Revenue growth (1 yr): 1.6%** (3-yr 14.5%/yr, 5-yr 30.0%/yr). Revenue grew 1.6% over the last year, against 30.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -3.3%**. Earnings per share fell 3.3%, roughly in step with revenue.

## Financial health
- **Debt to equity: 0.66**. Debt is 0.66 times equity, moderate leverage.
- **Net debt / EBITDA: net cash**. Treace Medical Concepts Inc. holds more cash than debt.
- **Current ratio: 4.31** (quick 4.31). Current assets cover the next year's liabilities 4.31 times.
- **Altman Z-score: 3.28**. A Z-score of 3.28 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Treace Medical Concepts Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 7.1%** (YTD 95.1%, 3-mo 2.4%). The shares are up 7.1% over twelve months including dividends.
- **From 52-week high: -7.0%** (317.1% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 58**. An RSI of 58 is neutral.
- **Beta (1 yr): 1.69** (volatility 91%). Beta of 1.69 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TMCI · Page: https://foliofundamentals.com/stocks/tmci

Not investment advice.