EDAP TMS S.A. American Depositary Shares

FOCL

Medical - Devices · Healthcare

Price

$5.43

-0.01 (-0.09%)

Market Cap

$203.7M

Exchange

NASDAQ Global Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+15.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 32.4M (2021) → 37.4M (2025)

EDAP TMS is a French medical device company that makes machines used to treat prostate cancer and kidney stones without surgery. Its main product is the Focal One, a robotic device that uses high-intensity focused ultrasound (HIFU) to destroy cancer cells inside the body. Hospitals and urology clinics are its primary customers.

The company earns money by selling its devices to hospitals and charging ongoing fees for service contracts and disposable supplies used during each procedure. EDAP TMS operates mainly in Europe and the United States, and its small size — around $200 million in market value — means it is still in an early growth phase. The key growth driver is wider adoption of HIFU as an alternative to radiation or full prostate removal, but the main risk is that the company is currently losing money at a significant rate, which could require it to raise additional cash to keep operating.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+25.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-20.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$10M/ year

↑ Rising (+11% vs prior year)

14.3% of revenue

Below sector average (18%)

Investing heavily in future products and technology

Insider Activity

0.5%ownership

Relatively low insider ownership

Cash Runway

~13 months

$16M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

EDAP TMS S.A. American Depositary Shares grew revenue 25% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

45.7%

Healthy — 45.7% gross margin

Operating Margin

-41.4%

Losing money on operations — -41.4%

ROCE

-20.8%

Weak — -20.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+7.3%

Steady sales growth (7.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-29.6%

Burning cash (-29.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

2.52

Heavy debt load (2.52)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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