(TMCI) Treace Medical Concepts - Overview

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US89455T1097

Stock: Bunion, Correction, Implants, Instruments, Adductus

Total Rating 22
Risk 38
Buy Signal 0.13
Medical Devices » Health Care Equipment
Age: 4.8y
Market Cap: 148m
Avg Trading Vol: 1.47M USD
ATR: 8.20%
Peers RS (IBD): 0.89

EPS (Earnings per Share)

EPS (Earnings per Share) of TMCI over the last years for every Quarter: "2020-12": -0.1, "2021-03": -0.07, "2021-06": -0.1, "2021-09": -0.12, "2021-12": -0.12, "2022-03": -0.16, "2022-06": -0.31, "2022-09": -0.22, "2022-12": -0.08, "2023-03": -0.23, "2023-06": -0.2, "2023-09": -0.28, "2023-12": -0.1, "2024-03": -0.3, "2024-06": -0.29, "2024-09": -0.25, "2024-12": -0.0016, "2025-03": -0.2468, "2025-06": -0.28, "2025-09": -0.26, "2025-12": 0,
EPS CAGR: 19.01%
EPS Trend: 13.9%
Last SUE: 4.00
Qual. Beats: 1

Revenue

Revenue of TMCI over the last years for every Quarter: 2020-12: 24.105, 2021-03: 18.707, 2021-06: 20.654, 2021-09: 21.619, 2021-12: 33.439, 2022-03: 29.047, 2022-06: 29.967, 2022-09: 33.055, 2022-12: 49.769, 2023-03: 42.195, 2023-06: 41.953, 2023-09: 40.758, 2023-12: 62.212, 2024-03: 51.108, 2024-06: 44.455, 2024-09: 45.086, 2024-12: 68.708, 2025-03: 52.57, 2025-06: 47.387, 2025-09: 50.214, 2025-12: null,
Rev. CAGR: 11.45%
Rev. Trend: 74.7%
Last SUE: 0.55
Qual. Beats: 0
Risk 5d forecast
Volatility 71.7%
Relative Tail Risk -18.5%
Reward TTM
Sharpe Ratio -2.22
Alpha -93.36
Character TTM
Beta 0.927
Beta Downside 0.842
Drawdowns 3y
Max DD 92.66%
CAGR/Max DD -0.57

Description: TMCI Treace Medical Concepts December 29, 2025

Treace Medical Concepts, Inc. (NASDAQ: TMCI) is a U.S.-based medical-technology firm that designs, manufactures, and markets specialty foot-and-ankle devices, most notably the Lapiplasty 3-D bunion correction system, which addresses deformity in three planes and stabilizes the metatarsophalangeal joint.

In addition to the standard Lapiplasty platform, the company offers a mini-incision version that can be performed through a 3.5 cm cut, and an Adductoplasty system for correcting metatarsus adductus and mid-foot osteoarthritis, targeting surgeons, ambulatory surgery centers, and hospitals.

Key performance indicators (FY 2023): revenue ≈ $48.5 million, year-over-year growth ≈ 22 %, gross margin ≈ 71 %, and cash on hand ≈ $22 million, providing runway for R&D and commercial expansion. The foot-and-ankle device market is estimated at > $2 billion globally, with growth driven by an aging population, rising prevalence of hallux valgus, and increasing outpatient surgical volume.

For a deeper dive into TMCI’s valuation multiples, growth assumptions, and peer comparison, consult the TMCI profile on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income: -50.1m TTM > 0 and > 6% of Revenue
FCF/TA: -0.13 > 0.02 and ΔFCF/TA 6.89 > 1.0
NWC/Revenue: 44.36% < 20% (prev 58.83%; Δ -14.47% < -1%)
CFO/TA -0.06 > 3% & CFO -12.2m > Net Income -50.1m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 3.37 > 1.5 & < 3
Outstanding Shares: last quarter (63.5m) vs 12m ago 2.07% < -2%
Gross Margin: 79.87% > 18% (prev 0.81%; Δ 7907 % > 0.5%)
Asset Turnover: 106.9% > 50% (prev 95.27%; Δ 11.62% > 0%)
Interest Coverage Ratio: -8.48 > 6 (EBITDA TTM -34.8m / Interest Expense TTM 5.28m)

Altman Z'' -4.55

A: 0.49 (Total Current Assets 138.0m - Total Current Liabilities 40.9m) / Total Assets 196.6m
B: -1.22 (Retained Earnings -239.6m / Total Assets 196.6m)
C: -0.22 (EBIT TTM -44.8m / Avg Total Assets 204.8m)
D: -2.23 (Book Value of Equity -239.5m / Total Liabilities 107.4m)
Altman-Z'' Score: -4.55 = D

Beneish M -2.92

DSRI: 1.26 (Receivables 33.0m/24.2m, Revenue 218.9m/202.9m)
GMI: 1.01 (GM 79.87% / 80.61%)
AQI: 1.04 (AQ_t 0.11 / AQ_t-1 0.10)
SGI: 1.08 (Revenue 218.9m / 202.9m)
TATA: -0.19 (NI -50.1m - CFO -12.2m) / TA 196.6m)
Beneish M-Score: -2.92 (Cap -4..+1) = A

What is the price of TMCI shares?

As of February 07, 2026, the stock is trading at USD 2.26 with a total of 2,016,081 shares traded.
Over the past week, the price has changed by -2.59%, over one month by -22.60%, over three months by -63.72% and over the past year by -78.02%.

Is TMCI a buy, sell or hold?

Treace Medical Concepts has received a consensus analysts rating of 3.57. Therefor, it is recommend to hold TMCI.
  • StrongBuy: 2
  • Buy: 0
  • Hold: 5
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the TMCI price?

Issuer Target Up/Down from current
Wallstreet Target Price 4.9 115.5%
Analysts Target Price 4.9 115.5%
ValueRay Target Price 1.2 -46.9%

TMCI Fundamental Data Overview February 03, 2026

P/S = 0.6754
P/B = 1.6575
Revenue TTM = 218.9m USD
EBIT TTM = -44.8m USD
EBITDA TTM = -34.8m USD
Long Term Debt = 53.5m USD (from longTermDebt, last quarter)
Short Term Debt = 3.91m USD (from shortTermDebt, last quarter)
Debt = 70.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 62.7m USD (from netDebt column, last quarter)
Enterprise Value = 160.8m USD (147.8m + Debt 70.4m - CCE 57.4m)
Interest Coverage Ratio = -8.48 (Ebit TTM -44.8m / Interest Expense TTM 5.28m)
EV/FCF = -6.10x (Enterprise Value 160.8m / FCF TTM -26.3m)
FCF Yield = -16.38% (FCF TTM -26.3m / Enterprise Value 160.8m)
FCF Margin = -12.04% (FCF TTM -26.3m / Revenue TTM 218.9m)
Net Margin = -22.89% (Net Income TTM -50.1m / Revenue TTM 218.9m)
Gross Margin = 79.87% ((Revenue TTM 218.9m - Cost of Revenue TTM 44.1m) / Revenue TTM)
Gross Margin QoQ = 79.07% (prev 79.67%)
Tobins Q-Ratio = 0.82 (Enterprise Value 160.8m / Total Assets 196.6m)
Interest Expense / Debt = 1.90% (Interest Expense 1.34m / Debt 70.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -35.4m (EBIT -44.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.37 (Total Current Assets 138.0m / Total Current Liabilities 40.9m)
Debt / Equity = 0.79 (Debt 70.4m / totalStockholderEquity, last quarter 89.2m)
Debt / EBITDA = -1.80 (negative EBITDA) (Net Debt 62.7m / EBITDA -34.8m)
Debt / FCF = -2.38 (negative FCF - burning cash) (Net Debt 62.7m / FCF TTM -26.3m)
Total Stockholder Equity = 101.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -24.47% (Net Income -50.1m / Total Assets 196.6m)
RoE = -49.49% (Net Income TTM -50.1m / Total Stockholder Equity 101.3m)
RoCE = -28.96% (EBIT -44.8m / Capital Employed (Equity 101.3m + L.T.Debt 53.5m))
RoIC = -22.79% (negative operating profit) (NOPAT -35.4m / Invested Capital 155.4m)
WACC = 6.81% (E(147.8m)/V(218.2m) * Re(9.33%) + D(70.4m)/V(218.2m) * Rd(1.90%) * (1-Tc(0.21)))
Discount Rate = 9.33% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.46%
Fair Price DCF = unknown (Cash Flow -26.3m)
EPS Correlation: 13.92 | EPS CAGR: 19.01% | SUE: 4.0 | # QB: 1
Revenue Correlation: 74.68 | Revenue CAGR: 11.45% | SUE: 0.55 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.22 | Chg30d=+0.020 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=-0.68 | Chg30d=+0.029 | Revisions Net=-3 | Growth EPS=+26.9% | Growth Revenue=-0.1%

Additional Sources for TMCI Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle