TACTILE SYSTEMS TECHNOLOGY INC · Surgical & Medical Instruments & Apparatus

TCMD

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The short version

A profitable company with steady sales.

Going well

Profitable
Sales up 13% last year
Brings in more cash than it spends

Watch out for

Share count growing 5.1% a year

Money moves

No insider buying or selling in the last 30 days
Institutions added 1.6% to their holdings in the quarter ending June 2026 (109 bought, 74 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$23.41-1.0% that day

Company value: $530M; Share price times all shares
Price vs profit (P/E): 21.7x; You pay about $22 for each $1 of yearly profit
Price vs sales: 1.5x; Company value is 1.5 times a year of sales
Cash vs value: 13%; Cash as a share of company value

From TCMD'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

$85.7M+8.6% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $350.3M, up 17% from the 12 months before. Over 5 years, sales grew about 12% a year.

What the price assumes

Your guesses, our math

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

Sales growth+17% a yearRecently: +17% a yearProfit margin7%Last 12 months: 7.1%P/E at the end22xToday: 21.7x. Many steady companies trade at 12x to 25xShare count change+5% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$768M

Profit in 5 years$54M

Price these guesses point to$40.91+75% vs $23.41 todayAbout +12% a year, before dividends

What today's price needs: with a 7% margin and a 22x P/E, sales would have to grow about 4.6% a year for 5 years just to match today's price.

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.8.8%
PassDebt under half of equityNot relying on borrowed money.0.00x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.5.8%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$40.4M
MissShare count not growingNot diluting owners. Falling means buybacks.+16.1% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.75.9%

Revenue: $329.5M; +12.5% vs prior year
5-year growth: +12.0%/yr; revenue, per year
Total debt: None; 0.00x equity
Current ratio: 4.03x; short-term assets / bills due

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