TransMedics Group Inc (TMDX)

Debt-to-equity ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	508,531	507,751	506,976	506,204	505,434	504,669	58,802	58,696	58,540	35,500	35,334	35,197	35,058	34,921	34,787	34,657	34,525	34,395	34,269	34,146
Total stockholders’ equity	US$ in thousands	209,920	189,894	159,471	137,202	126,460	145,213	192,625	187,375	187,857	50,919	59,910	67,854	78,549	88,983	97,675	103,891	109,550	113,760	46,683	54,649
Debt-to-equity ratio		2.42	2.67	3.18	3.69	4.00	3.48	0.31	0.31	0.31	0.70	0.59	0.52	0.45	0.39	0.36	0.33	0.32	0.30	0.73	0.62

September 30, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $508,531K ÷ $209,920K
= 2.42

The debt-to-equity ratio of TransMedics Group Inc has shown fluctuations over the past few quarters. From December 2019 to September 2020, the ratio remained relatively stable around 0.30 to 0.33. However, starting from March 2021, there was a significant increase in the ratio, reaching a peak of 4.00 in September 2023. This indicates a substantial increase in the company's debt relative to its equity during that period.

Subsequently, there was a downward trend in the ratio from September 2023 to March 2024, suggesting a reduction in the company's debt levels relative to equity. However, as of September 2024, the ratio stands at 2.42, which is indicative of a higher debt load relative to equity compared to the earlier periods.

Overall, the fluctuating trend in the debt-to-equity ratio of TransMedics Group Inc suggests varying levels of leverage and financial risk over the analyzed period. Investors and analysts may closely monitor this ratio to understand the company's capital structure and its ability to meet its financial obligations.