1Sem.·

Small share with high potential 🚨🚀

I have recently been on the lookout for exciting new investments and came across TransMedics ($TMDX (-0,75 %) ). After thorough research, I was so convinced that I have now opened my first major position. Here is a brief summary of the most important points and my thoughts on them:

🔍 Why I got in

TransMedics has revolutionized the way organ donations are transported and received. The company is growing rapidly and is already showing stable profits. Annual sales in 2024 increased by 83% to USD 441.5 million, and the company posted its first annual net profit of USD 35.5 million. TransMedics improved again in the second quarter of 2025, with sales climbing to USD 157.4 million and profits to USD 34.9 million. The gross margin remains consistently high at around 61% .

The company is also investing in its own logistics fleet and aims to facilitate 10,000 NOP transplants by 2028 as part of the National OCS Program. There are also exciting developments such as the Next-Gen OCS Lung System and a possible expansion into the kidney segment.

💸 Evaluation and comparison

Despite the strong growth, the share is currently only valued at a P/S ratio of around 7.35 . By way of comparison, the Japanese Terumo Group recently acquired its competitor OrganOx for around USD 1.5 billion. OrganOx generated sales of around USD 74 million in 2024, which corresponds to an acquisition multiple of around 20× sales. TransMedics is much more broadly positioned (heart, lung, liver). So while OrganOx is being acquired at 20x sales, it is currently trading at $TMDX (-0,75 %) is currently trading at only 6-9x sales, despite its larger market position, stronger portfolio and higher growth.

🧠 Conclusion

At the end of the day, I simply see a company with really strong tech, strong growth and still plenty of room for improvement in terms of margins. If you compare that with the takeovers that are currently going through the roof for completely different multiples, TMDX looks like a huge opportunity to me. I honestly believe that we will see the share at 200+ euros in the next few years.

What do you say? Am I missing something? 🙂

This is of course just my personal opinion and not investment advice. Please do your own research and act according to your own risk tolerance.

27.08

Transmedics Grp

Acheté à 101,73 €

13 Commentaires

All-in-or-nothing@All-in-or-nothing

1Sem.

It's been on my watchlist for some time, but I've never really found the right entry point. Maybe I'll get in in tranches before it runs away from me even further🫣.

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Zottel@Zottel4Profit

1Sem.

@All-in-or-nothing I do the same :)

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Tenbagger2024@Tenbagger2024

1Sem.

Isn't that @BamBamInvest his share

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 was my share 😂 I had already made a company presentation, but then doubted it because of the high capital-intensive costs for aircraft/maintenance etc. . I also don't know how sustainable the business is if there are perhaps fewer accidents in the future due to autonomous driving and therefore fewer transplants. But basically an exciting company, with exciting technology and a strong infrastructure. PS: I haven't read the article yet 😂

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Tenbagger2024@Tenbagger2024

1Sem.

@BamBamInvest
My dear,
Do you have any news about what's going on at Elf Beauty today? Had only read about an analyst recommendation.

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 $ELF does 🧚‍♂️ things 😊 let's see if we break out to the upside . Probably depends on $NVDA today .

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 but Insider Buy Open market from CEO of $COTY $ 1.2 million perhaps gives hope for the industry .

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All-in-or-nothing@All-in-or-nothing

1Sem.

@BamBamInvest I honestly believe that the "market" for transplant organs is significantly less dependent on accidents than you think🤔. Rather, it is probably things like autoimmune diseases, other serious illnesses, damage that people inflict on themselves, etc. that create the majority of the demand here. I therefore believe that the demand for the transportation and preservation of donor organs will continue to grow, regardless of any reduction in the number of accidents due to autonomous driving, etc. (which is not a foregone conclusion). (which is also not a foregone conclusion😅).

However, the issue of airplanes is also one that concerns me and is still holding me back from investing, especially at the current valuation. Super capital-intensive but of course a must have🤷🏼‍♂️ for the quasi full-service business model due to the permanent need for availability. But difficult from my point of view.

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BamBamInvest@BamBamInvest

1Sem.

@All-in-or-nothing of course you're absolutely right, that was a very short version of my answer 😊, but here too, if serious illnesses are cured in the future, this could also have an impact on growth. In the end, there were just too many question marks for me and technically I can't judge enough how good the transport boxes are and whether there are any other use cases here.

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 here are the answers :

E.l.f. Beauty is poised to take market share from Coty as the latter company plans to reduce its investment in mass cosmetics products, according to Jefferies analyst Ashley Helgans. E.l.f.'s share of the mass cosmetics market rose from 3.8% in 2020 to 9% in 2024, while Coty's CoverGirl remained unchanged at around 10% during this period. Helgans expects CoverGirl to lose further market share by 2026 as management plans to reduce spending in this market, which could lead to a decline in shelf space. E.l.f. has already been the main winner in the past when CoverGirl shifted its sales, Helgans said.

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 The shares of the cosmetics company e.l.f. Beauty
ELF rose 6.7% in the morning after strong earnings from retailer Kohl's underscored robust consumer spending in the beauty sector.

Kohl's reported adjusted earnings for the second quarter that were nearly double what analysts were expecting, sending the stock higher. The department store giant attributed much of its success to its partnership with cosmetics retailer Sephora, which has now been expanded to all of its locations. Kohl's noted that its cosmetics sales have soared, enabling the company to build a $2 billion cosmetics business. This positive news from a major retailer points to strong demand for cosmetics and skin care products, likely boosting investor confidence in specialty beauty companies like e.l.f. Beauty.

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Tenbagger2024@Tenbagger2024

1Sem.

@BamBamInvest
Thank you my dear,
because I bought a few times during the crash, Elf is now my fourth largest position.

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BamBamInvest@BamBamInvest

1Sem.

@Tenbagger2024 I'm happy, it looks like they will continue to expand their market share in this area and maintain growth beyond 2026, with Sephora and Bieber there is still a lot of growth potential here, it remains exciting.

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