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TransMedics Group Balance Sheet 2025-2011 | TMDX
Brief overview of TransMedics Group's balance sheet strength
The comparison uses five available annual reports from the 2021–2025 interval.
The asset base grew from $134.9 million to $1.1 billion, or +692%. Average annual growth of roughly 67.8% was strong.
Asset growth of +692% came with a +788% rise in liabilities. Financial leverage became more prominent.
Equity represents 44.3% of assets versus 50.3% initially. The capital structure appears balanced.
Net debt moved below zero to -$32.3 million, reflecting surplus cash over debt.
The cash reserve occupies 45.7% of the balance sheet, previously 19%. It is one marker of short-term resilience.
The balance sheet carries negative retained earnings of -$277.9 million. The figure may result from accumulated losses or an active capital return policy.
Overall assessment
Taken together, the figures indicate acceptable resilience for TransMedics Group. The next assessment depends on debt and equity trends.
Annual Balance Sheet TransMedics Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-32.3 M | 116 M | 54.4 M | -193 M | 9.62 M | 10.1 M | 14.1 M | 13.4 M | -3.28 M | - | - | - | - | - | - |
Long Term Debt |
453 M | 450 M | 447 M | 7.42 M | 35.2 M | 34.7 M | 34.1 M | 33.7 M | 6.85 M | - | - | - | - | - | - |
Long Term Debt Current |
3.31 M | 2.73 M | 2.04 M | 1.44 M | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 34.5 M | 34.4 M | 195 M | - | - | - | - | - | - |
Total Current Liabilities |
89.3 M | 59.9 M | 54.9 M | 23.7 M | 23.2 M | 11.9 M | 16.1 M | - | - | - | - | - | - | - | - |
Total Liabilities |
595 M | 575 M | 569 M | 89.8 M | 67 M | 48.1 M | 50.6 M | 47 M | 206 M | - | - | - | - | - | - |
Deferred Revenue |
2.9 M | 1.74 M | 1.96 M | 241 K | 250 K | 263 K | 166 K | 306 K | 239 K | - | - | - | - | - | - |
Retained Earnings |
-278 M | -468 M | -504 M | -479 M | -442 M | -398 M | -369 M | -336 M | -312 M | - | - | - | - | - | - |
Total Assets |
1.07 B | 804 M | 706 M | 277 M | 135 M | 152 M | 105 M | 42.2 M | 37 M | - | - | - | - | - | - |
Cash and Cash Equivalents |
488 M | 337 M | 395 M | 202 M | 25.6 M | 24.6 M | 20.1 M | 20.7 M | - | - | - | - | - | - | - |
Book Value |
473 M | 229 M | 137 M | 187 M | 67.9 M | 104 M | 54.6 M | -4.82 M | -169 M | - | - | - | - | - | - |
Total Shareholders Equity |
473 M | 229 M | 137 M | 187 M | 67.9 M | 104 M | 54.6 M | -192 M | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet TransMedics Group
| 2026-Q1 | 2025-Q4 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
344 M | 453 M | 451 M | 451 M | 450 M | 449 M | 449 M | 448 M | 447 M | 446 M | 446 M | 58.8 M | 7.42 M | 58.5 M | - | 35.3 M | 35.2 M | 35.1 M | 34.9 M | 34.8 M | 34.7 M | 34.7 M | 34.7 M | 34.7 M | 34.1 M | 34.1 M | 34.1 M | 34.1 M | 33.7 M | 33.7 M | 33.7 M | 33.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
941 M | 595 M | 572 M | 571 M | 575 M | 576 M | 569 M | 564 M | 569 M | 563 M | 545 M | 94.5 M | 89.8 M | 87 M | - | 64.1 M | 67 M | 52.6 M | 51.5 M | 48.1 M | 48.1 M | 48.1 M | 48.1 M | 48.1 M | 50.6 M | 50.6 M | 50.6 M | 50.6 M | 47.9 M | 47.9 M | 47.9 M | 47.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
2.94 M | 2.9 M | 1.57 M | 2.08 M | 1.74 M | 2.18 M | 1.45 M | 2.06 M | 1.96 M | 2.63 M | 244 K | 244 K | 241 K | 226 K | - | 247 K | 250 K | 320 K | 473 K | 432 K | 263 K | 263 K | 263 K | 263 K | 166 K | 166 K | 166 K | 166 K | 306 K | 306 K | 306 K | 306 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-271 M | -278 M | -408 M | -443 M | -468 M | -475 M | -479 M | -492 M | -504 M | -508 M | -482 M | -481 M | -479 M | -472 M | - | -453 M | -442 M | -430 M | -417 M | -406 M | -398 M | -398 M | -398 M | -398 M | -369 M | -369 M | -369 M | -369 M | -336 M | -336 M | -336 M | -336 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
1.43 B | 1.07 B | 891 M | 838 M | 804 M | 786 M | 759 M | 724 M | 706 M | 689 M | 690 M | 287 M | 277 M | 275 M | - | 124 M | 135 M | 131 M | 141 M | 146 M | 152 M | 152 M | 152 M | 152 M | 105 M | 105 M | 105 M | 105 M | 42.2 M | 42.2 M | 42.2 M | 42.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
462 M | 488 M | 401 M | 310 M | 337 M | 330 M | 363 M | 350 M | 395 M | 427 M | 582 M | 195 M | 201 M | 204 M | 30.4 M | 17.9 M | 25.6 M | 22.5 M | 25.3 M | 26.7 M | 24.6 M | 24.6 M | 24.6 M | 24.6 M | 20.1 M | 20.1 M | 20.1 M | 20.1 M | 20.2 M | 20.2 M | 20.2 M | 20.2 M | 12.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
494 M | 473 M | 318 M | 266 M | 229 M | 210 M | 190 M | 159 M | 137 M | 126 M | 145 M | 193 M | 187 M | 188 M | - | 59.9 M | 67.9 M | 78.5 M | 89 M | 97.7 M | 104 M | 104 M | 104 M | 104 M | 54.6 M | 54.6 M | 54.6 M | 54.6 M | -5.72 M | -5.72 M | -5.72 M | -5.72 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
494 M | 473 M | 318 M | 266 M | 229 M | 210 M | 190 M | 159 M | 137 M | 126 M | 145 M | 193 M | 187 M | 188 M | 50.9 M | 59.9 M | 67.9 M | 78.5 M | 89 M | 97.7 M | 104 M | 104 M | 104 M | 104 M | 54.6 M | 54.6 M | 54.6 M | 54.6 M | -192 M | -192 M | -192 M | -192 M | -169 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of TransMedics Group, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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