Latest Ratios: P/E Ratio 12.7x · EV/EBITDA 5.9x · ROE 21.6%. (2006–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $605M | $1.0B | $1.4B | $1.3B | $314M | $667M | $983M | $811M | $189M | $1.5B | $998M |
| Enterprise Value | $461M | $870M | $1.4B | $1.2B | $300M | $633M | $939M | $811M | $144M | $1.4B | $964M |
| P/E Ratio → | 12.72 | 21.16 | 34.36 | 23.08 | — | — | — | — | — | 22.52 | 2531.43 |
| P/S Ratio | 1.44 | 2.42 | 4.11 | 3.98 | 1.17 | 2.75 | 3.96 | 2.71 | 0.53 | 4.56 | 4.07 |
| P/B Ratio | 2.38 | 3.95 | 7.43 | 8.97 | 4.21 | 7.20 | 10.75 | 23.57 | 3.81 | 19.84 | 7.50 |
| P/FCF | 8.29 | 13.89 | 22.23 | 51.64 | — | — | — | — | 7.34 | 25.45 | 53.32 |
| P/OCF | 8.17 | 13.70 | 21.66 | 47.81 | — | — | — | — | 5.28 | 23.26 | 38.64 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.08 | 3.88 | 3.88 | 1.12 | 2.61 | 3.78 | 2.71 | 0.40 | 4.47 | 3.93 |
| EV / EBITDA | 5.85 | 11.05 | 20.87 | 30.74 | — | — | — | — | 48.17 | 27.64 | 151.67 |
| EV / EBIT | 7.22 | 12.79 | 22.83 | 33.58 | — | — | — | — | 13.50 | 30.70 | 278.76 |
| EV / FCF | — | 11.92 | 20.99 | 50.27 | — | — | — | — | 5.59 | 24.97 | 51.49 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.6% | 82.6% | 82.8% | 83.0% | 82.0% | 83.6% | 84.2% | 85.6% | 89.9% | 89.0% | 86.8% |
| Operating Margin | 15.3% | 15.3% | 16.9% | 11.5% | -5.5% | -2.9% | -18.3% | -7.1% | -1.1% | 14.4% | 0.4% |
| Net Profit Margin | 11.6% | 11.6% | 12.2% | 21.0% | -11.3% | -5.1% | -19.9% | -8.5% | -8.3% | 20.2% | 4.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.6% | 21.6% | 25.3% | 62.1% | -36.1% | -13.4% | -78.3% | -60.9% | -48.6% | 62.6% | 9.9% |
| ROA | 16.0% | 16.0% | 16.9% | 32.9% | -16.8% | -6.3% | -26.7% | -17.6% | -24.6% | 41.2% | 7.3% |
| ROIC | 42.3% | 42.3% | 39.7% | 32.8% | -18.4% | -10.0% | -82.5% | -79.7% | -11.5% | 47.7% | 0.7% |
| ROCE | 25.7% | 25.7% | 28.6% | 23.1% | -10.8% | -4.9% | -37.4% | -28.0% | -6.2% | 42.4% | 0.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.13 | 0.34 | 0.70 | 0.58 | 0.57 | 2.03 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | 0.29 | 0.29 | 0.38 | 1.19 | — | — | — | — | 0.08 | 0.01 | 0.00 |
| Net Debt / Equity | — | -0.56 | -0.41 | -0.24 | -0.18 | -0.36 | -0.48 | 0.02 | -0.90 | -0.37 | -0.26 |
| Net Debt / EBITDA | -1.82 | -1.82 | -1.23 | -0.84 | — | — | — | — | -15.00 | -0.52 | -5.41 |
| Debt / FCF | — | -1.97 | -1.23 | -1.37 | — | — | — | — | -1.74 | -0.47 | -1.84 |
| Interest Coverage | 38.16 | 38.16 | 58.96 | 5.75 | -2.94 | -1.42 | -5.59 | -4.40 | — | 538.08 | 10.20 |
Net cash position: cash ($166M) exceeds total debt ($23M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.32 | 4.32 | 4.21 | 3.57 | 3.08 | 3.51 | 2.71 | 1.83 | 1.03 | 1.06 | 2.49 |
| Quick Ratio | 3.92 | 3.92 | 3.69 | 3.11 | 2.78 | 3.24 | 2.54 | 1.70 | 0.81 | 0.86 | 2.14 |
| Cash Ratio | 2.58 | 2.58 | 2.29 | 1.78 | 1.51 | 2.06 | 1.62 | 1.03 | 0.63 | 0.60 | 0.68 |
| Asset Turnover | — | 1.22 | 1.32 | 1.34 | 1.56 | 1.29 | 1.23 | 1.79 | 2.92 | 2.65 | 1.27 |
| Inventory Turnover | 2.88 | 2.88 | 2.52 | 2.60 | 3.67 | 3.48 | 3.80 | 4.73 | 2.28 | 3.72 | 1.82 |
| Days Sales Outstanding | — | 66.01 | 58.41 | 61.16 | 58.71 | 60.86 | 52.09 | 39.43 | 0.46 | 0.75 | 100.04 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 4.7% | 2.9% | 4.3% | — | — | — | — | — | 4.4% | 0.0% |
| FCF Yield | 12.1% | 7.2% | 4.5% | 1.9% | — | — | — | — | 13.6% | 3.9% | 1.9% |
| Buyback Yield | 0.5% | 0.3% | 0.2% | 0.7% | 0.4% | 0.7% | 0.2% | 0.2% | 6.6% | 4.9% | 1.2% |
| Total Shareholder Yield | 0.5% | 0.3% | 0.2% | 0.7% | 0.4% | 0.7% | 0.2% | 0.2% | 6.6% | 4.9% | 1.2% |
| Shares Outstanding | — | $150M | $149M | $146M | $113M | $110M | $108M | $107M | $106M | $116M | $113M |
Medicare reimbursement policy shifts
According to current market data, MDXG trades at an EV/EBITDA multiple of 5.59, which appears to incorporate a significant governance discount relative to broader med-tech peers, suggesting investors remain cautious about the sustainability of recent earnings improvements despite the company's clean balance sheet and proprietary product portfolio.
The current valuation multiple suggests the market is pricing in a high degree of skepticism regarding the company's ability to maintain its recent profitability levels. Investors should monitor whether the forward EV/EBITDA of 17.62 reflects an anticipated contraction in margins or if it implies a more optimistic outlook on long-term growth that has yet to be fully validated by consistent quarterly performance.
As reported in recent financial statements, ROIC has fluctuated significantly, dropping to -12.2% in 2026Q1 from a peak of 29.8% in 2023Q4, which indicates that the company's ability to compound returns on invested capital is currently hindered by operational instability and inconsistent margin performance across its core segments.
The sharp decline in ROIC suggests that the company's capital allocation strategy is currently struggling to generate value above its cost of capital. This volatility warrants further investigation into whether the recent negative returns are a temporary byproduct of strategic pivots or a structural issue related to the high fixed costs of the direct sales force.
Based on the latest quarterly filings, the cash conversion cycle has extended to 159 days in 2026Q1, driven by rising inventory days of 134, which suggests that the company is facing challenges in optimizing its supply chain and managing the turnover of its shelf-stable allograft inventory effectively.
The lengthening of the cash conversion cycle appears to be a drag on overall operational efficiency, as capital remains tied up in inventory for longer periods. Investors should monitor whether this trend is a result of strategic stockpiling or a sign of softening demand that could lead to future inventory obsolescence risks.
As evidenced by the company's reported figures, a current ratio of 5.39 and substantial cash reserves of $159.8M provide a robust liquidity cushion, which appears sufficient to insulate the business from short-term revenue volatility and potential regulatory shocks that could impact the wound care reimbursement landscape.
The company's liquidity position is a clear strength, offering management the flexibility to navigate periods of negative cash flow without the need for external financing. This fortress-like balance sheet may be the primary factor preventing a more severe market re-rating during periods of operational underperformance.
The P/E ratio is frequently misapplied to MDXG, as it fails to account for the significant impact of non-recurring legal settlements and stock-based compensation that distort net income, making the P/FCF or EV/EBITDA metrics more reliable indicators of the company's true underlying cash-generative capacity.
Relying on P/E multiples in this context obscures the volatility of the company's earnings, which are often influenced by accounting adjustments rather than pure operational cash flow. Analysts should prioritize cash-based metrics to better understand the company's ability to fund its own growth and maintain its competitive moat in the regenerative medicine space.
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Quick answers to the most common questions about buying MDXG stock.
MiMedx Group, Inc.'s current P/E ratio is 12.7x. The historical average is 27.4x.
MiMedx Group, Inc.'s current EV/EBITDA is 5.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.5x.
MiMedx Group, Inc.'s return on equity (ROE) is 21.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -41.0%.
Based on historical data, MiMedx Group, Inc. is trading at a P/E of 12.7x. Compare with industry peers and growth rates for a complete picture.
MiMedx Group, Inc. has 82.6% gross margin and 15.3% operating margin. Operating margin between 10-20% is typical for established companies.
MiMedx Group, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.