Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data EDAP TMS SA files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2025
FY2025
Revenue
69.4
70.5
Cost of revenue
40.7
40.5
Gross profit
28.7
30
Research and development
8.36
9.66
Selling and marketing
27.4
27.3
General and administrative
15.2
17.7
Operating expenses
51
54.7
Operating income
-22.2
-24.7
Interest expense
0.26
0.79
Interest income
0.86
0.25
Pre-tax income
-20.3
-28.8
Income tax
0.31
0.44
Net income
-20.6
-29.2
EBITDA
-19.4
-21.3
EPS, basic
-0.55
-0.78
EPS, diluted
-0.55
-0.78
Shares, basic (weighted)
37.3
37.4
Shares, diluted (weighted)
37.3
37.4
Balance sheet
FY2025
FY2025
Cash and equivalents
31
20.5
Short-term investments
0
Receivables
19.3
14.9
Inventory
19.2
7.77
Other current assets
1.31
1.15
Total current assets
72.6
57.2
Property, plant and equipment
7.57
9.88
Lease right-of-use assets
2.65
1.97
Goodwill
2.51
0.76
Intangible assets
1.13
1.79
Other non-current assets
0
0
Total assets
89.4
79
Accounts payable
13
11.7
Deferred revenue
6.9
6.45
Short-term debt
2.5
2.08
Total current liabilities
39.3
37.1
Long-term debt
2.25
15.9
Lease liabilities
1.65
1.07
Other non-current liabilities
3.01
1.63
Total liabilities
46.9
59.6
Total debt
4.75
18
Paid-in capital
149
151
Retained earnings
-99.4
-129
Treasury stock
-1.02
-1.02
Other comprehensive income
-12
-8.34
Shareholders' equity
42.5
19.4
Total equity
42.5
19.4
Total liabilities and equity
89.4
79
Shares outstanding
37.4
37.5
Cash flow statement
FY2025
FY2025
Net income
-20.6
-29.2
Depreciation and amortization
2.78
3.41
Deferred income tax
-0.12
-0.17
Change in inventory
-4.37
6.85
Cash from operations
-14.7
-16.4
Cash from investing
-4.46
-5.72
Debt issued
2.8
12.4
Debt repaid
-1.68
-2.72
Stock issued
0.13
Cash from financing
5.02
8.61
Exchange rate effect
-2.89
2.97
Net change in cash
-17
-10.5
Interest paid
0.3
0.56
Income taxes paid
0.41
0.37
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $4.71 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
42.5%
Gross profit / revenue.
Operating margin
-35.0%
Operating income / revenue.
EBITDA margin
-30.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-40.8%
Pre-tax income / revenue.
Net margin
-41.5%
Net income / revenue.
Operating cash flow margin
-23.3%
Cash from operations / revenue.
Return on equity (ROE)
-94.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-34.7%
Net income / average total assets.
Return on invested capital (ROIC)
-117.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
13.7%
Research and development expense / revenue.
D&A / revenue
4.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
1.6%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
4.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-54.3%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-11.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
0.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.54x
Current assets / current liabilities.
Quick ratio
0.95x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.55x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.93x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
22.8%
Total debt / total assets.
Liabilities / assets
75.4%
Total liabilities / total assets.
Net debt
-$2.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.78
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.78
Net income per basic share, as reported (split-adjusted).
Revenue per share
$1.88
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.44
Cash from operations / diluted weighted shares.
Book value per share
$0.52
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
2.51x
Market cap / revenue.
P/B
9.11x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
10.5x
Market cap / tangible book value, when positive.
EV/Sales
2.47x
Enterprise value / revenue.
Earnings yield
-16.5%
Net income / market cap (the inverse of P/E).
What was EDAP TMS SA's revenue in fiscal 2025?
EDAP TMS SA reported revenue of $70.5M for fiscal 2025, 1.6% higher than the year before.
Was EDAP TMS SA profitable in fiscal 2025?
No. It reported a net loss of $29.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.