Tandem Diabetes Care Valuation Multiples

Tandem Diabetes Care Overview

About Tandem Diabetes Care

Tandem Diabetes designs, manufactures, and markets durable insulin pumps for individuals with diabetes. The firm first entered this market in 2012 and has since introduced multiple generations of pumps leading to its current t:slim X2 device. The firm recently launched its smaller Mobi pump and continues to work on Tobi (a tubeless version of Mobi), and the Sigi tubeless patch pump. Nearly three-quarters of total revenue is derived from the US, with the remainder primarily from other developed nations. The pumps themselves generate just over half of total sales, and another one-third is from disposable infusion sets that need to be changed over every 2 to 3 days.

Founded

2008

HQ

Employees

2.5K

Website

tandemdiabetes.com

Sectors

Medical DevicesDeepTechHealthTech

Financials (LTM)

Revenue: $1B

EBITDA: ($15M)

EV

$2B

Valuation Multiples

Multiples.vc

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Tandem Diabetes Care Financials

Tandem Diabetes Care reported last 12-month revenue of $1B and negative EBITDA of ($15M).

In the same LTM period, Tandem Diabetes Care generated $566M in gross profit, ($15M) in EBITDA losses, and had net loss of ($137M).

Tandem Diabetes Care P&L

In the most recent fiscal year, Tandem Diabetes Care reported revenue of $1B and EBITDA of ($46M).

Tandem Diabetes Care expects next 12-month revenue of XXX and NTM EBITDA of XXX

Tandem Diabetes Care Stock Performance

Tandem Diabetes Care has current market cap of $1B, and enterprise value of $2B.

Tandem Diabetes Care's stock price is $20.61.

Tandem Diabetes Care Valuation Multiples

Tandem Diabetes Care trades at 1.5x EV/Revenue multiple, and (105.1x) EV/EBITDA.

Tandem Diabetes Care Financial Valuation Multiples

As of April 20, 2026, Tandem Diabetes Care has market cap of $1B and EV of $2B.

Equity research analysts estimate Tandem Diabetes Care's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Tandem Diabetes Care has a P/E ratio of (10.3x).

Tandem Diabetes Care Margins & Growth Rates

Tandem Diabetes Care's revenue in the last 12 month grew by 8%.

Tandem Diabetes Care's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Tandem Diabetes Care's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Tandem Diabetes Care's rule of X is 22% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Tandem Diabetes Care Public Comps

See public comps and valuation multiples for other Medical Devices comps.

Tandem Diabetes Care M&A Activity

Tandem Diabetes Care acquired XXX companies to date.

Last acquisition by Tandem Diabetes Care was on XXXXXXXX, XXXXX. Tandem Diabetes Care acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Tandem Diabetes Care Investment Activity

Tandem Diabetes Care invested in XXX companies to date.

Tandem Diabetes Care made its latest investment on XXXXXXXX, XXXXX. Tandem Diabetes Care invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).