SI

Surmodics, Inc.

SRDX·NASDAQ

$42.98

+0.0000%
HealthcareMedical - Devices

Surmodics, Inc., together with its subsidiaries, provides surface modification technologies for intravascular medical devices, and chemical components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates in two segments, Medical Device and In Vitro Diagnostics (IVD). The Medical Device segment engages in the provision of surface modification coating technologies to enhance access, deliverability, and predictable deployment of medical devices; and drug-delivery coating technologies to provide site-specific drug-delivery from the surface of a medical device for coronary, peripheral, neuro-vascular and structural heart, and other markets, as well as design, development, and manufacturing of interventional medical devices, primarily balloons and catheters, including drug-coated balloons for peripheral arterial disease treatment and other applications. The IVD segment designs, develops, and manufactures component products and technologies for diagnostic immunoassay, as well as molecular test and biomedical research applications. This segment offers protein stabilization reagents, substrates, surface coatings, and antigens. The company was founded in 1979 and is headquartered in Eden Prairie, Minnesota.

At a Glance

Live Snapshot
Market Cap$614.51M
EPS-0.8200
P/E Ratio-52.41
Earnings Date01/28/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -52.4).

Valuation inputs: P/E -52.4, earnings yield N/A, momentum 0.0%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE -9.7%, ROIC -5.5%).

Profitability stack: net margin -9.2%, ROE -9.7%, ROIC -5.5%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +33.4%, momentum 0.0%, net margin -9.2%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Surmodics, Inc. Market vs Earnings Trajectory

SRDX · NASDAQ

Loading price and EPS data...

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Surmodics, Inc. Fair Value Envelope

SRDX · NASDAQ

Our analysis suggests that SRDX has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $42.98, this represents a potential HIDDEN relative to our calculated worth for Surmodics, Inc..

Intrinsic Value
Current Price: $42.98
3Y-365.0%
5Y-244.0%
10Y-180.0%
3Y+20.0%
5Y+26.0%
10Y+104.0%
3Y-372.0%
5Y-252.0%
10Y-186.0%
3Y-98.0%
5Y-97.0%
10Y-98.0%
3Y-136.0%
5Y-351.0%
10Y-125.0%
3Y-8.0%
5Y+12.0%
10Y+78.0%
SI

Surmodics, Inc. Profit Bridge

SRDX · NASDAQ
Revenue126.08M
Cost of Goods Sold (33.03M)
Gross Profit93.05M
Operating Expenses (98.70M)
Operating Income-5.64M
Interest Expense (3.54M)
Other Income/Expense-1.86M
Pretax Income-7.51M
Income Tax (4.04M)
Net Income-11.54M
Net Income
-11.54M

Profitability Analysis

Gross Margin

73.8%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

-4.5%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-9.2%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

73.81%
Gross Profit Margin
60%
3Y+88.0%
5Y+120.0%
10Y+23.0%
-4.48%
Operating Profit Margin
-215%
3Y-170.0%
5Y-169.0%
10Y-115.0%
-9.15%
Net Profit Margin
690%
3Y-327.0%
5Y-221.0%
10Y-142.0%
-9.71%
Return on Equity
658%
3Y-421.0%
5Y-257.0%
10Y-167.0%
-6.46%
Return on Assets
682%
3Y-397.0%
5Y-236.0%
10Y-148.0%
-5.46%
Return on Invested Capital
179%
3Y-314.0%
5Y-217.0%
10Y-140.0%
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Surmodics, Inc. Cash Conversion Engine

SRDX · NASDAQ
Net Income-11.54M
Depreciation & Amortization8.69M
Stock-Based Compensation8.22M
Change in Working Capital-5.36M
Others558.00K
Capital Expenditures-3.49M
Free Cash Flow-3.24M

Cash Flow Quality Analysis

FCF Conversion Rate

28.1%

Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.

CapEx Intensity

1408.1%

Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.

FCF Growth Trend

-142.7%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$5.36M

Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

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Surmodics, Inc. Funding & Solvency Profile

SRDX · NASDAQ
Cash & Cash Equivalents26.28M
Net Receivables25.02M
Inventory15.76M
Other Current Assets2.49M
Total Current Assets76 M
Property, Plant & Equipment22.84M
Goodwill & Intangible Assets67.94M
Long-Term Investments236.00K
Other Non-Current Assets2.81M
Total Non-Current Assets26 M
Total Assets
169.82M

Financial Health Analysis

Current Ratio

3.91x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.53x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

57 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

45% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Surmodics, Inc. Street Expectations Map

SRDX · NASDAQ

Wall Street analysts project that SRDX stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 39.50, with estimates ranging from a low of 36.00 to a high of 43.00.

Lowest Target
36.00
-16.24%
Consensus Target
39.50
-8.10%
Highest Target
43.00
0.05%

The consensus 1-year price target stands at 39.50, with estimates ranging from a low of 36.00 to a high of 43.00.

Analyst Consensus Analysis

Upside Potential

-8.1%

Downside risk. Current price above analyst targets indicates potential overvaluation. Exercise caution and review catalysts.

Analyst Agreement

17.7% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Risk-Reward Profile

0.00x

Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.

Analyst Conviction

Low

Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Surmodics, Inc. Insider Positioning

SRDX · NASDAQ

During the last 12 months, there has been no insider trading activity reported for SRDX.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

No Dividend Yield Data

SRDX has not reported any dividend yield values in the available annual periods.

 

srdx Dividend History

SRDX
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%