TransMedics (TMDX) Return on Invested Capital [ROIC] (2024 - 2026)
TransMedics' Return on Invested Capital [ROIC] came in at 14.42% for Q2 2026, down 6.63 percentage points from 21.06% a year earlier and down 2.96 percentage points from the prior quarter.
Powered by 
Analysis
TransMedics (TMDX) Return on Invested Capital [ROIC] (2024 - 2026) Analysis & Trends
For FY2025, TransMedics' Return on Invested Capital [ROIC] was 26.46%, up 11.11 percentage points from FY2024.
- Return on Invested Capital [ROIC] has increased in each of the last three years, with a three-year change of +44.47 percentage points (FY2022 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 15.35% in FY2024 (+27.54 pp), -12.19% in FY2023 (+5.82 pp) and -18.01% in FY2022.
- The Q2 2026 figure represents the lowest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] increased in three of the last four quarters, with an average year-over-year change of +3.85 percentage points.
- Business Quant data shows TMDX's Return on Invested Capital [ROIC] at 17.39% (Q1 2026), 22.92% (Q4 2025) and 23.93% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 242.18 Bn | 221.33 Bn | 4.88 Bn | 7.89% |
| 2 | Abbott Laboratories | 168.71 Bn | 139.79 Bn | 7.27 Bn | 6.20% |
| 3 | Danaher | 150.46 Bn | 134.27 Bn | 3.61 Bn | 5.71% |
| 4 | Intuitive Surgical | 138.71 Bn | 118.26 Bn | 1.96 Bn | - |
| 5 | Medtronic | 110.54 Bn | 76.41 Bn | 6.34 Bn | 6.90% |
| 6 | Stryker | 105.66 Bn | 91.78 Bn | 4.50 Bn | 10.46% |
| 7 | Boston Scientific | 61.74 Bn | 56.75 Bn | 3.85 Bn | 10.53% |
| 8 | Edwards Lifesciences | 49.09 Bn | 33.21 Bn | 1.35 Bn | 8.99% |
| 9 | Becton Dickinson | 48.16 Bn | 45.31 Bn | 2.32 Bn | 5.27% |
| 10 | TransMedics | 2.76 Bn | 874.10 Mn | 113.20 Mn | 14.42% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.42% |
| Mar 31, 2026 | 17.39% |
| Dec 31, 2025 | 22.92% |
| Sep 30, 2025 | 23.93% |
| Jun 30, 2025 | 21.06% |
| Mar 31, 2025 | 16.74% |
| Dec 31, 2024 | 13.35% |
| Sep 30, 2024 | 12.14% |
API Access
TransMedics Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=TMDX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "TMDX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=TMDX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();