Treace Medical Concepts, Inc.

NasdaqGS:TMCI Stock Report

Market Cap: US$226.8m

Treace Medical Concepts Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

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.

Key Valuation Metric

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

Key metric: As TMCI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TMCI. This is calculated by dividing TMCI's market cap by their current revenue.
What is TMCI's PS Ratio?
PS Ratio1x
SalesUS$218.88m
Market CapUS$226.84m

Price to Sales Ratio vs Peers

How does TMCI's PS Ratio compare to its 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.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.4x
PHIX.F Phase Holographic Imaging PHI
3.8xn/aUS$407.3m
SRDX Surmodics
3.2x3.30%US$383.0m
NPCE NeuroPace
4.7x13.41%US$437.0m
CLPT ClearPoint Neuro
13.7x32.80%US$449.4m
TMCI Treace Medical Concepts
1x6.39%US$226.8m

Price-To-Sales vs Peers: TMCI is good value based on its Price-To-Sales Ratio (1x) compared to the peer average (6.4x).

Price to Sales Ratio vs Industry

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

57 CompaniesPrice / SalesEstimated GrowthMarket Cap
XRAY DENTSPLY SIRONA
0.6x1.97%US$2.23b
ENOV Enovis
0.8x5.27%US$1.60b
QDEL QuidelOrtho
0.5x3.05%US$1.38b
IART Integra LifeSciences Holdings
0.6x2.54%US$937.82m
TMCI 1.0xIndustry Avg. 3.1xNo. of Companies57PS03.26.49.612.816+
57 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: TMCI is good value based on its Price-To-Sales Ratio (1x) compared to the US Medical Equipment industry average (3.1x).

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 Ratio1x
Fair PS Ratio2.2x

Price-To-Sales vs Fair Ratio: TMCI is good value based on its Price-To-Sales Ratio (1x) compared to the estimated Fair Price-To-Sales Ratio (2.2x).

Analyst Price Targets

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

The above table shows the analyst TMCI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.56
US$6.56
+84.22%
34.32%US$11.00US$4.00n/a6
Nov ’26US$6.39
US$8.42
+31.72%
27.10%US$12.00US$6.00n/a6
Oct ’26US$6.32
US$8.58
+35.81%
25.71%US$12.00US$6.00n/a6
Sep ’26US$7.34
US$8.35
+13.76%
27.86%US$12.00US$6.00n/a6
Aug ’26US$5.34
US$9.78
+83.21%
25.21%US$14.50US$6.60n/a6
Jul ’26US$6.02
US$10.02
+66.39%
22.03%US$14.50US$8.00n/a6
Jun ’26US$5.74
US$9.73
+69.49%
22.21%US$14.50US$8.00n/a7
May ’26US$7.34
US$11.07
+50.84%
24.90%US$16.00US$8.00n/a7
Apr ’26US$8.15
US$11.29
+38.47%
22.70%US$16.00US$9.00n/a7
Mar ’26US$8.94
US$11.36
+27.04%
22.16%US$16.00US$9.00n/a7
Feb ’26US$10.05
US$9.05
-9.95%
27.09%US$14.50US$7.50n/a6
Jan ’26US$7.44
US$9.05
+21.64%
27.09%US$14.50US$7.50n/a6
Dec ’25US$8.52
US$7.50
-11.97%
5.96%US$8.00US$7.00n/a5
Nov ’25US$4.78
US$7.10
+48.54%
9.34%US$8.00US$6.00US$6.395
Oct ’25US$5.41
US$7.40
+36.78%
5.06%US$8.00US$7.00US$6.325
Sep ’25US$6.17
US$7.50
+21.56%
5.44%US$8.00US$7.00US$7.346
Aug ’25US$6.59
US$7.58
+15.07%
13.41%US$9.00US$6.00US$5.346
Jul ’25US$6.49
US$6.83
+5.29%
13.80%US$8.00US$5.50US$6.026
Jun ’25US$5.88
US$6.83
+16.21%
13.80%US$8.00US$5.50US$5.746
May ’25US$10.86
US$15.86
+46.01%
8.55%US$18.00US$14.00US$7.347
Apr ’25US$12.50
US$15.86
+26.86%
8.55%US$18.00US$14.00US$8.157
Mar ’25US$13.42
US$15.86
+18.16%
8.55%US$18.00US$14.00US$8.947
Feb ’25US$14.19
US$15.00
+5.71%
13.80%US$17.00US$11.00US$10.057
Jan ’25US$12.75
US$14.57
+14.29%
15.06%US$17.00US$11.00US$7.447
Dec ’24US$9.31
US$13.29
+42.70%
19.59%US$17.00US$10.00US$8.527
Nov ’24US$10.10
US$23.57
+133.38%
27.48%US$31.00US$12.00US$4.787
US$6.56
Fair Value
45.7% undervalued intrinsic discount
6
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/11 17:40
End of Day Share Price 2025/11/10 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Treace Medical Concepts, Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael GormanBTIG
Lilia-Celine LozadaJ.P. Morgan
Robert MarcusJ.P. Morgan