Is TransMedics Group, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for TransMedics Group, Inc. moved from expensive to fair. The company appears to be fairly valued at this time. Key ratios include a P/E ratio of 96, a Price to Book Value of 17.67, and an EV to EBITDA of 66.22. In comparison, peers such as CONMED Corp. have a more attractive P/E of 19.96, while Integer Holdings Corp. is considered very expensive with a P/E of 41.17.
TransMedics has demonstrated strong performance with a year-to-date return of 91.13%, significantly outperforming the S&P 500's 14.40% during the same period. This performance, coupled with its fair valuation, suggests that while the stock is currently not undervalued, it has been able to deliver impressive returns relative to broader market benchmarks.