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Tandem Diabetes Care

TNDM
18
Medical - Devices · Healthcare
Price
$17.08
+0.79 (+4.85%)
Market Cap
$1.17B
Exchange
NASDAQ
Winston Score
18
Winston is worried
Weak fundamentals across most pillars.

Share count rising — dilution

+4.6% over 4y

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

Diluted shares outstanding: 64.3M (2021) → 67.3M (2025)

Tandem Diabetes Care, Inc., a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set. It also provides t:slim X2 insulin with Basal-IQ and control IQ technology; t:slim X2 with G5 Integration; and Tandem Devi

Winston Score History

Politician Trades

4 trades / 12mo

2 Congressional buys and 2 sells on TNDM in the last 12 months.

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Growth Profile

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

Revenue Growth

+5.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+84.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$175M/ year

Declining (-12% vs prior year)

17.2% of revenue

In line with sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

8.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$179M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Tandem Diabetes Care is growing revenue at 5% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

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Quality

Gross Margin
55.3%
Premium pricing power — 55.3% gross margin
Operating Margin
-7.1%
Losing money on operations — -7.1%
ROCE
-2.0%
Weak — -2.0% return on capital

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

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Growth

Sales YoY
-6.8%
Shrinking sales (-6.8% 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
-0.4%
Burning cash (-0.4%)

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

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Stability

Debt / Equity
5.55
Heavy debt load (5.55)
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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