DELCATH SYSTEMS, INC. · Surgical & Medical Instruments & Apparatus

DCTH

Moderate riskNext report: Nov 9 (confirmed)

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 21% in the latest quarter vs a year ago
Profitable
Sales up 129% last year

Watch out for

Share count growing 65.1% a year (dilution)

Money moves

No insider buying or selling in the last 30 days
Institutions added 6.8% to their holdings in the quarter ending June 2026 (68 bought, 46 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$14.49+0.6% that day

Company value: $503M; Share price times all shares
Price vs sales: 5.3x; No profit over the last year, so this compares value with sales instead
Cash vs value: 9%; Cash as a share of company value

From DCTH's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$29.1M+21% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $95.4M, up 36% from the 12 months before.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DCTH. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +36% a yearProfit margin1%Last 12 months: 0.6%P/E at the end15xMany steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$354M

Profit in 5 years$4M

Price these guesses point to$0.95-93% vs $14.49 todayAbout -42% a year, before dividends

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/7Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.3.0%
PassDebt under half of equityNot relying on borrowed money.No debt reported
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.3.2%
MissProfitable every yearSteady profits, not one good year.1 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$21.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+350.3% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.86.2%

Revenue: $85.2M; +129.1% vs prior year
Total debt: None; 0.00x equity
Current ratio: 10.92x; short-term assets / bills due
Free cash flow: $21.0M; 24.6% of revenue

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.