TCMDNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
TACTILE SYSTEMS TECHNOLOGY INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$22.73+0.21 (+0.93%)
Close on Oct 19, 2026
- Market cap
- $524.13M
- P/E (TTM)
- 21.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
75.9%+4.9 pts over 5 years
Operating margin
8.9%+10.8 pts over 5 years
Net margin
5.8%+6.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.5% | +10.1% | +12.0% | +18.0% | |
| Gross profit | +15.4% | +12.4% | +13.5% | +18.5% | |
| Operating income | +32.0% | – | – | +23.8% | |
| Net income | +12.5% | – | – | +29.9% | |
| EPS, diluted | +17.1% | – | – | – | |
| Free cash flow | +5.7% | +127.6% | +122.9% | +36.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 10.7% | -0.5% | 8.8% | |
| Return on assets | 5.2% | -0.4% | 6.7% | |
| Current ratio | 4.66 | 4.63 | 4.03 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | 28.2× | |
| Inventory turnover | 3.7× | 2.9× | 4.9× | |
| Capex to revenue | 0.9% | 1.1% | 0.7% | |
| Diluted shares | 11M | 19M | 23M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tactile Systems Technology generated $127.16M from operations and spent $41.05M on capital expenditure, dividends and share buybacks. 27% of that went back into the business.
Generated
$127.16M
Used
$41.05M
Capital expenditure$10.98M27%Dividends$00%Share buybacks$30.07M73%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.8%
×Asset turnover1.15×
×Equity multiplier1.31×
=Return on equity, FY20258.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.8% | 1.15× | 1.31× | 8.8% |
| FY2024 | 5.8% | 1.01× | 1.41× | 8.3% |
| FY2023 | 10.4% | 1.02× | 1.70× | 18.1% |
| FY2022 | -7.2% | 0.99× | 2.00× | -14.3% |
| FY2021 | -5.7% | 0.99× | 1.65× | -9.3% |
| FY2020 | -0.3% | 1.15× | 1.37× | -0.5% |
| FY2019 | 5.8% | 1.46× | 1.28× | 10.9% |
| FY2018 | 4.6% | 1.47× | 1.21× | 8.2% |
| FY2017 | 5.4% | 1.35× | 1.23× | 8.8% |
| FY2016 | 3.4% | 1.52× | 2.05× | 10.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$19.09M
- Cash generatingOperating cash flow above zero$42.81M
- Return on assets improvedROA up on the prior year6.0% → 6.4%
- Earnings backed by cashOperating cash flow above net income$42.81M vs $19.09M
- Less leverageLong-term debt to assets fell7.8% → –
- Better liquidityCurrent ratio rose4.36 → 4.03
- No dilutionShare count did not rise24M → 23M
- Gross margin improvedGross margin up on the prior year73.96% → 75.91%
- More efficientAsset turnover rose1.04 → 1.11