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Maker of the t:slim X2 insulin pump with Control-IQ automated dosing technology for people with diabetes.
Maker of the t:slim X2 insulin pump with Control-IQ automated dosing technology for people with diabetes.
Earns on the pump once, then repeatedly on disposable cartridges and infusion sets that users replace every few days, so installed users matter more than new pump sales. A growing share of orders goes through pharmacies rather than medical-equipment suppliers, and the pump connects with sensors from Dexcom and Abbott.
Moat: narrow (IP / patents, switching costs, brand). Established Control-IQ algorithm and CGM integrations create switching costs once patients are on therapy.
Headquarters: San Diego, California · Founded: 2006 · Employees: 2,500
Size Tandem Diabetes Care (TNDM) is a United States Health Care company (Medical Specialties) with a market value of $1.18B, the 2146th largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.91 on 6 Nov 2026.
Performance Over six months the shares gained 9.2%, against -13.9% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +14.2%); the operating margin is -4.2% (peer median 13.9%).
Valuation It trades at 1.4× enterprise value to sales against a peer median of 5.2× (2nd cheapest of 19).
Capital Return on invested capital runs 18.3 points below its cost of capital (10.0% WACC).
Credit Tandem Diabetes Care has 2 bonds outstanding ($616M).
Short interest Short interest is 21.7% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.04B | $1.02B | $940M | $748M | $801M |
| Revenue growth | — | +8% | +26% | -7% | — |
| Gross profit | $583M | $531M | $475M | $354M | $401M |
| EBITDA | -$25.5M | -$59.8M | -$82.5M | -$139M | -$47.5M |
| Net income | -$63.3M | -$205M | -$96.0M | -$223M | -$94.6M |
| Free cash flow | -$26.6M | -$29.7M | $4.99M | -$58.6M | $16.4M |
| Capital expenditure | $21.1M | $19.9M | $19.2M | $26.8M | $34.1M |
| Total debt | $739M | $449M | $474M | $416M | $420M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Tandem Diabetes Care TNDM | $1.18B | +9% | +4% | -4% | 1.4× | n/a |
| Insulet PODD | $10.2B | -5% | +26% | 18% | 3.3× | 10.3% |
| Medtronic MDT | $130B | +35% | +10% | 20% | 4.0× | 8.6% |
| Beta Bionics BBNX | $854M | +63% | +44% | -73% | 4.9× | n/a |
| Dexcom DXCM | $29.6B | +31% | +13% | 24% | 5.7× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TNDM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +1.2% | 7th highest of 21 |
| 6-month return | +9.2% | -13.9% | 5th highest of 20 |
| Distance from 52-week high | -43.0% | -34.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +3.9% | +14.2% | 7th lowest of 19 |
| Operating margin | -4.2% | 13.9% | 6th lowest of 19 |
| EV / Sales | 1.4× | 5.2× | 2nd cheapest of 19 |
| ROIC minus cost of capital | -18.3 pp | -0.2 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tandem Diabetes Care TNDM | United States | $1.18B | +9% | +4% | -4% | 1.4× | n/a | n/a |
| PROCEPT BioRobotics PRCT | United States | $1.18B | -19% | +23% | -34% | 3.0× | n/a | n/a |
| Inno Laser Technology 301021.SZ | China | $1.16B | -18% | +17% | 9% | 12.7× | 53.9% | +8.6% |
| Alphatec ATEC | United States | $1.15B | -1% | +15% | -3% | 2.0× | n/a | n/a |
| Mingyue Optical Lens 301101.SZ | China | $1.14B | +6% | +14% | 25% | 6.8× | 10.0% | +8.8% |
| Beijing Strong Biotechnologies 300406.SZ | China | $1.13B | +1% | -4% | 36% | 5.8× | 1.5% | +9.9% |
| Shandong Weigao Orthopaedic Device 688161.SS | China | $1.24B | -25% | -6% | 18% | 5.1× | 12.7% | -3.5% |
| CLASSYS 214150.KS | South Korea | $1.25B | -54% | +25% | 46% | 4.6× | -8.7% | +34.5% |
| Beijing Wandong Medical Technology 600055.SS | China | $1.11B | -27% | -11% | -33% | 3.4× | n/a | n/a |
| IRadimed IRMD | United States | $1.10B | 0% | +11% | 32% | 11.7× | 19.1% | +21.5% |
| Guangzhou Hexin Instrument 688622.SS | China | $1.26B | +58% | -29% | -74% | 99.9× | n/a | n/a |
| Amoy Diagnostics 300685.SZ | China | $1.10B | -14% | +7% | 34% | 5.2× | 6.5% | +10.3% |
| STAAR Surgical STAA | United States | $1.26B | -6% | +51% | 18% | 3.3× | n/a | n/a |
| Freenome FRNM | United States | $1.09B | n/a | n/a | n/a | n/a | n/a | n/a |
| SI-BONE SIBN | United States | $1.09B | +98% | +14% | -8% | 4.5× | n/a | n/a |
| Eyebright Medical Technology (Beijing) 688050.SS | China | $1.27B | -15% | +21% | 16% | 5.2× | 10.8% | +40.3% |
| Alpha Tau Medical DRTS | United States | $1.27B | +61% | n/a | n/a | n/a | n/a | n/a |
| PHC 6523.T | Japan | $1.09B | +36% | +3% | 7% | 1.0× | -2.3% | +3.6% |
| Tinavi Medical Technologies 688277.SS | China | $1.08B | -30% | -2% | -59% | 26.9× | n/a | n/a |
| INKON Life Technology 300143.SZ | China | $1.08B | -14% | +22% | 12% | 3.4× | 12.4% | +12.9% |
| L&C BIO 290650.KS | South Korea | $1.07B | -17% | +53% | 17% | 12.8× | n/a | n/a |
Tandem Diabetes Care has 2 bonds outstanding with $616M face value.