# Treace Medical Concepts Inc. (TMCI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Health Care Technology. Price $4.81, market value $313 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: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 4.6×**. The shares trade at 4.6× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -8.0%** (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: 79.5%**. Treace Medical Concepts Inc. keeps 79.5% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -26.2%**. 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: -31.7%**. Return on all capital, debt included, is -31.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -31.2%**. Each dollar of assets produces -31.2% 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.
- **Altman Z-score: 2.64**. A Z-score of 2.64 is in the grey zone; not distressed, not clearly safe.
- **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): -32.9%** (YTD 96.3%, 3-mo 37.0%). The shares are down 32.9% over twelve months including dividends.
- **From 52-week high: -37.0%** (311.1% above the low). Trading 37% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 1.63** (volatility 87%). Beta of 1.63 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.