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TMCI

Treace Medical Concepts NasdaqGS:TMCI Stock Report

Last Price

US$22.66

Market Cap

US$1.3b

7D

-0.4%

1Y

-22.8%

Updated

23 Sep, 2022

Data

Company Financials +
TMCI fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance0/6
Financial Health5/6
Dividends0/6

TMCI Stock Overview

Treace Medical Concepts, Inc., an orthopedic medical device company, engages in the design, manufacture, and marketing of medical devices for foot and ankle surgeons in the United States.

Treace Medical Concepts Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Treace Medical Concepts
Historical stock prices
Current Share PriceUS$22.66
52 Week HighUS$29.61
52 Week LowUS$12.48
Beta0
1 Month Change13.81%
3 Month Change48.49%
1 Year Change-22.79%
3 Year Changen/a
5 Year Changen/a
Change since IPO-11.24%

Recent News & Updates

Shareholder Returns

TMCIUS Medical EquipmentUS Market
7D-0.4%-7.0%-5.2%
1Y-22.8%-32.8%-23.1%

Return vs Industry: TMCI exceeded the US Medical Equipment industry which returned -32.6% over the past year.

Return vs Market: TMCI underperformed the US Market which returned -21.6% over the past year.

Price Volatility

Is TMCI's price volatile compared to industry and market?
TMCI volatility
TMCI Average Weekly Movement7.6%
Medical Equipment Industry Average Movement8.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.8%

Stable Share Price: TMCI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: TMCI's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2014248John Treacehttps://www.treace.com

Treace Medical Concepts, Inc., an orthopedic medical device company, engages in the design, manufacture, and marketing of medical devices for foot and ankle surgeons in the United States. It offers Lapiplasty procedure that allows podiatric surgeons to treat all three dimensions of the bunion, providing patients with a cosmetic and medical improvement. The company also provides Lapiplasty Mini-Incision precision system.

Treace Medical Concepts Fundamentals Summary

How do Treace Medical Concepts's earnings and revenue compare to its market cap?
TMCI fundamental statistics
Market CapUS$1.26b
Earnings (TTM)-US$39.31m
Revenue (TTM)US$114.07m

11.0x

P/S Ratio

-31.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TMCI income statement (TTM)
RevenueUS$114.07m
Cost of RevenueUS$21.71m
Gross ProfitUS$92.36m
Other ExpensesUS$131.67m
Earnings-US$39.31m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.71
Gross Margin80.97%
Net Profit Margin-34.46%
Debt/Equity Ratio73.3%

How did TMCI perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is TMCI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TMCI?

Other financial metrics that can be useful for relative valuation.

TMCI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue10.7x
Enterprise Value/EBITDA-41x
PEG Ration/a

Price to Sales Ratio vs Peers

How does TMCI's PS Ratio compare to its peers?

TMCI PS Ratio vs Peers
The above table shows the PS ratio for TMCI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average8.6x
FNA Paragon 28
8.3x18.7%US$1.3b
BFLY Butterfly Network
14x31.2%US$957.8m
CYRX Cryoport
5.3x18.3%US$1.2b
LMAT LeMaitre Vascular
6.7x6.7%US$1.1b
TMCI Treace Medical Concepts
11x21.7%US$1.3b

Price-To-Sales vs Peers: TMCI is expensive based on its Price-To-Sales Ratio (11x) compared to the peer average (8.6x).


Price to Earnings Ratio vs Industry

How does TMCI's PE Ratio compare vs other companies in the US Medical Equipment Industry?

Price-To-Sales vs Industry: TMCI is expensive based on its Price-To-Sales Ratio (11x) compared to the US Medical Equipment industry average (3.9x)


Price to Sales Ratio vs Fair Ratio

What is TMCI's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TMCI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio11x
Fair PS Ratio9.7x

Price-To-Sales vs Fair Ratio: TMCI is expensive based on its Price-To-Sales Ratio (11x) compared to the estimated Fair Price-To-Sales Ratio (9.7x).


Share Price vs Fair Value

What is the Fair Price of TMCI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate TMCI's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TMCI's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Treace Medical Concepts forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


28.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TMCI is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: TMCI is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: TMCI is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: TMCI's revenue (21.7% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: TMCI's revenue (21.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TMCI is forecast to be unprofitable in 3 years.


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Past Performance

How has Treace Medical Concepts performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-384.0%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: TMCI is currently unprofitable.

Growing Profit Margin: TMCI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if TMCI's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare TMCI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TMCI is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (0.6%).


Return on Equity

High ROE: TMCI has a negative Return on Equity (-54.81%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Treace Medical Concepts's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: TMCI's short term assets ($135.2M) exceed its short term liabilities ($16.6M).

Long Term Liabilities: TMCI's short term assets ($135.2M) exceed its long term liabilities ($70.4M).


Debt to Equity History and Analysis

Debt Level: TMCI has more cash than its total debt.

Reducing Debt: Insufficient data to determine if TMCI's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: TMCI has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: TMCI has sufficient cash runway for 2.7 years if free cash flow continues to reduce at historical rates of 74.9% each year.


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Dividend

What is Treace Medical Concepts's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TMCI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TMCI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TMCI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TMCI's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TMCI has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.5yrs

Average management tenure


CEO

John Treace (50 yo)

8.17yrs

Tenure

US$688,145

Compensation

Mr. John T. Treace Founded Treace Medical Concepts, Inc. in 2014 and has been its Chief Executive Officer and Director since July 1, 2014. Before that, Mr. Treace served as Senior Vice President of U.S. Sa...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD688.15K) is below average for companies of similar size in the US market ($USD5.58M).

Compensation vs Earnings: John's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: TMCI's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: TMCI's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TMCI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGS:TMCI Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
01 Sep 22BuyUS$198,031John TreaceIndividual10,000US$19.80
26 Aug 22BuyUS$450,342John TreaceIndividual21,491US$20.95
24 Aug 22BuyUS$533,756John TreaceIndividual28,509US$18.92
18 May 22BuyUS$97,960Mark HairIndividual6,200US$15.80
10 Mar 22SellUS$38J & A Group, LLCCompany2US$19.21
08 Mar 22BuyUS$46,550Terry LubbenIndividual2,500US$18.62

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5%.


Top Shareholders

Top 25 shareholders own 75.71% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
19.51%
John Treace
10,806,709$244.9m0.56%no data
6.02%
John Treace
3,335,043$75.6m-2.2%no data
5.97%
AllianceBernstein L.P.
3,304,942$74.9m4.63%0.03%
5.3%
The Vanguard Group, Inc.
2,934,041$66.5m23.78%no data
3.61%
Emerald Advisers, LLC
1,998,766$45.3m25.28%1.19%
3.6%
Richard Mott
1,993,955$45.2m0%no data
3.33%
BlackRock, Inc.
1,843,561$41.8m14.85%no data
3.31%
Thomas Timbie
1,834,069$41.6m-9.83%no data
3.14%
Next Century Growth Investors LLC
1,741,154$39.5m3.16%4.6%
3.06%
James Treace
1,692,624$38.4m-8.14%no data
2.97%
F. Bays
1,648,072$37.3m-4.64%no data
2.06%
CIBC Private Wealth Advisors, Inc.
1,139,709$25.8m0.89%0.07%
1.7%
Perceptive Advisors LLC
941,192$21.3m-3.09%0.67%
1.57%
TimesSquare Capital Management, LLC
872,524$19.8m-0.09%0.24%
1.48%
William Blair Investment Management, LLC
818,673$18.6m0%0.03%
1.2%
Janus Henderson Group plc
664,651$15.1m-0.26%0.01%
1.17%
Robert Jordheim
650,164$14.7m0%no data
1.06%
Novo Holdings A/S
588,308$13.3m17.56%0.02%
0.91%
Joe Ferguson
505,331$11.5m0%no data
0.9%
Lord, Abbett & Co. LLC
498,533$11.3m7.32%0.04%
0.87%
State Street Global Advisors, Inc.
483,815$11.0m-0.61%no data
0.81%
Driehaus Capital Management LLC
448,941$10.2m-0.64%0.11%
0.76%
Raymond James Financial Services Advisors, Inc.
422,785$9.6m-4.95%0.02%
0.72%
Geode Capital Management, LLC
401,212$9.1m10.96%no data
0.68%
Sectoral Asset Management Inc.
376,678$8.5m78.5%1.03%

Company Information

Treace Medical Concepts, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Treace Medical Concepts, Inc.
  • Ticker: TMCI
  • Exchange: NasdaqGS
  • Founded: 2014
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Implied Market Cap: US$1.255b
  • Shares outstanding: 55.40m
  • Website: https://www.treace.com

Number of Employees


Location

  • Treace Medical Concepts, Inc.
  • 203 Fort Wade Road
  • Suite 150
  • Ponte Vedra
  • Florida
  • 32081
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TMCINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2021
7DWDB (Deutsche Boerse AG)YesCommon StockDEEURApr 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/23 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.