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Surmodics (SRDX) Financials

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$27.57 -0.57 (-2.03%)
Closing price 04/17/2025 04:00 PM Eastern
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$27.68 +0.11 (+0.38%)
As of 04/17/2025 04:05 PM Eastern
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Annual Income Statements for Surmodics

Annual Income Statements for Surmodics

This table shows Surmodics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 4.24 -27 -1.54 -12
Consolidated Net Income / (Loss)		 4.24 -27 -1.54 -12
Net Income / (Loss) Continuing Operations		 4.24 -27 -1.54 -12
Total Pre-Tax Income 		6.35 -22 2.49 -7.51
Total Operating Income		 6.70 -22 5.15 -5.65
Total Gross Profit		 88 80 108 93
Total Revenue		 105 100 133 126
Operating Revenue		 105 100 133 126
Total Cost of Revenue		 17 20 25 33
Operating Cost of Revenue		 17 20 25 33
Total Operating Expenses		 81 102 102 99
Selling, General & Admin Expense		 31 47 52 57
Research & Development Expense		 47 51 47 38
Amortization Expense		 2.79 4.15 3.54 3.50
Other Operating Expenses / (Income)		 0.00 0.01 -0.83 0.00
Restructuring Charge		 1.05 0.00 1.28 0.00
Total Other Income / (Expense), net		 -0.36 -0.40 -2.66 -1.86
Interest Expense		 0.31 0.60 3.49 3.54
Interest & Investment Income		 0.12 0.10 1.08 1.92
Other Income / (Expense), net		 -0.17 0.10 -0.25 -0.24
Income Tax Expense		 2.11 4.78 4.02 4.04
Basic Earnings per Share		 $0.31 ($1.96) ($0.11) ($0.82)
Weighted Average Basic Shares Outstanding		 13.77M 13.92M 14.03M 14.15M
Diluted Earnings per Share		 $0.30 ($1.96) ($0.11) ($0.82)
Weighted Average Diluted Shares Outstanding		 13.99M 13.92M 14.03M 14.15M
Weighted Average Basic & Diluted Shares Outstanding		 13.91M 14.04M 14.16M 14.33M

Quarterly Income Statements for Surmodics

This table shows Surmodics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Net Income / (Loss) Attributable to Common Shareholders		 -5.65 -15 -7.84 -7.73 7.35 6.69 -0.79 0.25 -7.55 -3.65
Consolidated Net Income / (Loss)		 -5.65 -15 -7.84 -7.73 7.35 6.69 -0.79 0.25 -7.55 -3.65
Net Income / (Loss) Continuing Operations		 -5.65 -15 -7.84 -7.73 7.35 6.69 -0.79 0.25 -7.55 -3.65
Total Pre-Tax Income 		-7.18 -6.79 -8.01 -7.37 21 -2.79 -0.72 0.17 -5.81 -2.94
Total Operating Income		 -7.14 -6.61 -7.23 -6.58 21 -2.45 -0.32 0.66 -5.37 -2.48
Total Gross Profit		 20 20 20 21 46 21 22 25 22 22
Total Revenue		 25 26 25 27 52 28 31 32 30 30
Operating Revenue		 25 26 25 27 52 28 31 32 30 30
Total Cost of Revenue		 5.14 5.60 5.27 5.74 6.92 7.04 8.80 7.10 8.45 7.43
Operating Cost of Revenue		 5.14 5.60 5.27 5.74 6.92 7.04 8.80 7.10 8.45 7.43
Total Operating Expenses		 27 27 27 28 24 23 22 24 27 25
Selling, General & Admin Expense		 13 14 13 13 13 13 13 13 17 15
Research & Development Expense		 13 12 13 13 11 9.70 8.66 10 9.77 8.94
Amortization Expense		 1.02 0.97 0.91 0.87 0.88 0.88 0.87 0.88 0.87 0.86
Total Other Income / (Expense), net		 -0.04 -0.18 -0.78 -0.78 -0.76 -0.34 -0.40 -0.49 -0.44 -0.46
Interest Expense		 0.15 0.19 0.83 0.88 0.88 0.90 0.90 0.88 0.88 0.88
Interest & Investment Income		 0.02 0.03 0.17 0.18 0.18 0.55 0.54 0.46 0.49 0.39
Other Income / (Expense), net		 0.09 -0.02 -0.13 -0.08 -0.06 0.01 -0.05 -0.07 -0.05 0.03
Income Tax Expense		 -1.53 7.94 -0.17 0.37 13 -9.48 0.06 -0.08 1.74 0.71
Basic Earnings per Share		 ($0.41) ($1.06) ($0.56) ($0.55) $0.52 $0.48 ($0.06) $0.02 ($0.53) ($0.26)
Weighted Average Basic Shares Outstanding		 13.93M 13.92M 13.98M 14.03M 14.05M 14.03M 14.10M 14.15M 14.17M 14.23M
Diluted Earnings per Share		 ($0.41) ($1.06) ($0.56) ($0.55) $0.52 $0.48 ($0.06) $0.02 ($0.53) ($0.26)
Weighted Average Diluted Shares Outstanding		 13.93M 13.92M 13.98M 14.03M 14.07M 14.03M 14.10M 14.18M 14.17M 14.23M
Weighted Average Basic & Diluted Shares Outstanding		 14.01M 14.04M 14.13M 14.13M 14.13M 14.16M - 14.26M 14.27M 14.30M

Annual Cash Flow Statements for Surmodics

This table details how cash moves in and out of Surmodics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Net Change in Cash & Equivalents		 0.37 -12 22 -5.30
Net Cash From Operating Activities		 15 -17 11 0.25
Net Cash From Continuing Operating Activities		 15 -17 11 0.25
Net Income / (Loss) Continuing Operations		 4.24 -27 -1.54 -12
Consolidated Net Income / (Loss)		 4.24 -27 -1.54 -12
Depreciation Expense		 8.02 9.14 8.52 8.69
Amortization Expense		 0.05 0.05 0.37 0.30
Non-Cash Adjustments To Reconcile Net Income		 3.81 6.34 7.43 3.24
Changes in Operating Assets and Liabilities, net		 -0.72 -5.47 -4.27 -0.44
Net Cash From Investing Activities		 -25 6.23 -6.82 -2.94
Net Cash From Continuing Investing Activities		 -25 6.23 -6.82 -2.94
Purchase of Property, Plant & Equipment		 -5.28 -3.37 -2.92 -3.49
Acquisitions		 -41 0.00 0.00 0.00
Purchase of Investments		 -23 0.00 -3.90 -25
Sale and/or Maturity of Investments		 43 9.60 0.00 26
Net Cash From Financing Activities		 10 -0.38 18 -2.95
Net Cash From Continuing Financing Activities		 10 -0.38 18 -2.95
Repayment of Debt		 0.00 0.00 -11 0.00
Issuance of Debt		 10 0.00 30 0.00
Issuance of Common Equity		 3.13 1.25 1.25 1.22
Other Financing Activities, net		 -2.90 -1.62 -1.90 -4.17
Effect of Exchange Rate Changes		 - -0.79 0.32 0.34
Cash Interest Paid		 0.07 0.42 2.92 3.05
Cash Income Taxes Paid		 0.16 0.42 2.85 2.57

Quarterly Cash Flow Statements for Surmodics

This table details how cash moves in and out of Surmodics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q3 2024 Q4 2024 Q1 2025
Net Change in Cash & Equivalents		 -4.64 -1.08 7.43 -7.25 25 -3.16 -18 -8.73 12 -5.97
Net Cash From Operating Activities		 -3.50 -2.50 -11 -5.83 26 1.25 -8.79 -2.03 3.66 -7.89
Net Cash From Continuing Operating Activities		 -3.50 -2.50 -11 -5.83 26 1.25 -8.79 -2.03 3.66 -7.89
Net Income / (Loss) Continuing Operations		 -5.65 -15 -7.84 -7.73 7.35 6.69 -0.79 -7.55 -3.45 -3.65
Consolidated Net Income / (Loss)		 -5.65 -15 -7.84 -7.73 7.35 6.69 -0.79 -7.55 -3.45 -3.65
Depreciation Expense		 2.21 2.24 2.12 2.09 2.15 2.16 2.33 2.13 2.14 2.08
Amortization Expense		 0.01 0.01 0.08 0.10 0.09 0.09 0.08 0.08 0.08 0.08
Non-Cash Adjustments To Reconcile Net Income		 3.25 1.39 2.81 -0.86 2.66 2.82 -1.40 0.86 2.46 2.47
Changes in Operating Assets and Liabilities, net		 -3.31 8.58 -7.97 0.57 14 -11 -9.02 2.45 2.43 -8.87
Net Cash From Investing Activities		 -0.86 1.43 -0.98 -0.72 -0.47 -4.65 -8.47 -6.72 9.46 3.70
Net Cash From Continuing Investing Activities		 -0.86 1.43 -0.98 -0.72 -0.47 -4.65 -8.47 -6.72 9.46 3.70
Purchase of Property, Plant & Equipment		 -0.86 -0.57 -0.98 -0.72 -0.47 -0.75 -0.72 -0.96 -0.54 -0.30
Purchase of Investments		 - - - - - -3.90 -9.75 -12 - 0.00
Sale and/or Maturity of Investments		 - 2.00 0.00 - - - 2.00 6.00 10 4.00
Net Cash From Financing Activities		 -0.01 0.30 19 -0.79 -0.02 0.42 -1.05 0.07 -1.56 -1.20
Net Cash From Continuing Financing Activities		 -0.01 0.30 19 -0.79 -0.02 0.42 -1.05 0.07 -1.56 -1.20
Issuance of Common Equity		 0.02 0.48 0.35 0.46 - 0.45 0.04 0.09 0.55 0.11
Other Financing Activities, net		 -0.04 -0.19 -0.86 -0.99 -0.02 -0.03 -1.09 -0.03 -2.12 -1.31
Effect of Exchange Rate Changes		 -0.27 -0.30 0.41 0.09 - - 0.25 - - -0.57
Cash Interest Paid		 0.09 0.16 0.66 0.73 0.76 0.76 0.78 0.77 0.76 0.79
Cash Income Taxes Paid		 0.00 0.02 0.01 0.01 0.24 2.60 0.00 1.34 0.89 0.00

Annual Balance Sheets for Surmodics

This table presents Surmodics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Total Assets		 195 158 186 179
Total Current Assets		 70 58 87 81
Cash & Equivalents		 31 19 41 36
Short-Term Investments		 7.72 0.00 3.93 4.00
Accounts Receivable		 9.17 10 11 13
Inventories, net		 6.76 12 15 15
Prepaid Expenses		 6.45 6.76 7.36 2.86
Other Current Assets		 7.09 7.12 7.80 9.87
Plant, Property, & Equipment, net		 30 27 26 25
Total Noncurrent Assets		 94 74 73 72
Goodwill		 46 41 43 45
Intangible Assets		 37 28 26 24
Other Noncurrent Operating Assets		 3.72 4.77 3.86 4.09
Total Liabilities & Shareholders' Equity		 195 158 186 179
Total Liabilities		 55 50 66 60
Total Current Liabilities		 30 32 24 21
Short-Term Debt		 10 10 - 0.00
Accounts Payable		 1.78 3.14 2.99 2.79
Accrued Expenses		 4.91 5.85 6.44 3.80
Current Deferred Revenue		 4.65 4.16 4.38 1.62
Current Deferred & Payable Income Tax Liabilities		 - - 0.00 1.24
Current Employee Benefit Liabilities		 8.48 8.93 10 11
Total Noncurrent Liabilities		 25 18 42 39
Long-Term Debt		 - 0.00 29 30
Noncurrent Deferred & Payable Income Tax Liabilities		 2.74 2.03 2.00 1.79
Other Noncurrent Operating Liabilities		 12 11 8.06 7.78
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 140 108 120 119
Total Preferred & Common Equity		 140 108 120 119
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 140 108 120 119
Common Stock		 22 29 37 45
Retained Earnings		 116 89 87 76
Accumulated Other Comprehensive Income / (Loss)		 1.73 -9.87 -4.76 -2.13

Quarterly Balance Sheets for Surmodics

This table presents Surmodics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q2 2024 Q3 2024 Q1 2025
Total Assets		 176 170 166 189 183 177 164
Total Current Assets		 60 64 61 86 84 80 72
Cash & Equivalents		 20 26 19 45 33 24 30
Short-Term Investments		 2.01 - - - 7.91 14 0.00
Accounts Receivable		 9.38 10 12 12 12 13 13
Inventories, net		 11 13 14 15 15 15 15
Prepaid Expenses		 7.65 8.07 8.31 7.23 4.20 3.37 4.01
Other Current Assets		 7.58 7.05 7.87 7.68 11 10 9.88
Plant, Property, & Equipment, net		 28 28 28 27 26 25 24
Total Noncurrent Assets		 87 78 77 76 73 72 68
Goodwill		 43 43 44 44 44 43 42
Intangible Assets		 31 29 29 28 25 24 21
Other Noncurrent Operating Assets		 5.51 5.01 4.76 4.84 4.46 4.68 4.41
Total Liabilities & Shareholders' Equity		 176 170 166 189 183 177 164
Total Liabilities		 51 62 64 76 59 59 52
Total Current Liabilities		 29 17 19 32 19 20 13
Short-Term Debt		 10 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable		 1.93 2.04 3.79 2.48 3.19 3.19 2.56
Accrued Expenses		 5.86 7.05 6.46 5.45 5.02 5.43 3.58
Current Deferred Revenue		 4.01 3.77 3.35 4.33 4.75 3.68 0.27
Current Deferred & Payable Income Tax Liabilities		 - - - 12 0.00 0.04 1.89
Current Employee Benefit Liabilities		 7.60 4.41 5.53 7.83 6.25 7.86 4.88
Total Noncurrent Liabilities		 21 45 44 44 40 39 39
Long-Term Debt		 - 29 29 29 29 30 30
Noncurrent Deferred & Payable Income Tax Liabilities		 2.23 2.10 2.03 2.06 1.86 1.77 1.60
Other Noncurrent Operating Liabilities		 12 9.52 9.74 9.54 8.32 7.79 7.60
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 125 107 103 112 124 118 112
Total Preferred & Common Equity		 125 107 103 112 124 118 112
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 125 107 103 112 124 118 112
Common Stock		 27 31 33 35 41 43 46
Retained Earnings		 104 81 73 81 87 79 72
Accumulated Other Comprehensive Income / (Loss)		 -5.72 -4.62 -3.81 -3.20 -3.75 -4.11 -6.14

Annual Metrics and Ratios for Surmodics

This table displays calculated financial ratios and metrics derived from Surmodics' official financial filings.

Metric 2022 2023 2024
Growth Metrics		 - - -
Revenue Growth		 -4.93% 32.65% -4.91%
EBITDA Growth		 -187.74% 207.65% -77.45%
EBIT Growth		 -436.66% 122.27% -220.19%
NOPAT Growth		 -445.62% 79.44% -24.23%
Net Income Growth		 -743.71% 94.37% -651.43%
EPS Growth		 -753.33% 94.39% -645.45%
Operating Cash Flow Growth		 -211.92% 161.05% -97.64%
Free Cash Flow Firm Growth		 83.76% -37.19% -7.46%
Invested Capital Growth		 -8.99% 4.60% 4.21%
Revenue Q/Q Growth		 2.06% 1.52% 0.00%
EBITDA Q/Q Growth		 -92.40% 43.60% 0.00%
EBIT Q/Q Growth		 -39.01% 590.97% 0.00%
NOPAT Q/Q Growth		 -38.34% -560.37% 0.00%
Net Income Q/Q Growth		 -112.50% 93.31% 0.00%
EPS Q/Q Growth		 -113.04% 93.33% 0.00%
Operating Cash Flow Q/Q Growth		 -24.50% 55.44% 111.48%
Free Cash Flow Firm Q/Q Growth		 89.79% -146.88% 0.00%
Invested Capital Q/Q Growth		 -12.06% 6.97% 0.00%
Profitability Metrics		 - - -
Gross Margin		 79.65% 81.17% 73.81%
EBITDA Margin		 -12.81% 10.40% 2.47%
Operating Margin		 -22.11% 3.88% -4.48%
EBIT Margin		 -22.00% 3.70% -4.67%
Profit (Net Income) Margin		 -27.29% -1.16% -9.15%
Tax Burden Percent		 121.26% -61.76% 153.77%
Interest Burden Percent		 102.27% 50.77% 127.48%
Effective Tax Rate		 0.00% 161.76% 0.00%
Return on Invested Capital (ROIC)		 -14.83% -3.13% -3.72%
ROIC Less NNEP Spread (ROIC-NNEP)		 44.39% -16.31% 53.55%
Return on Net Nonoperating Assets (RNNOA)		 -7.12% 1.78% -5.94%
Return on Equity (ROE)		 -21.95% -1.35% -9.67%
Cash Return on Invested Capital (CROIC)		 -5.42% -7.62% -7.85%
Operating Return on Assets (OROA)		 -12.46% 2.85% -3.23%
Return on Assets (ROA)		 -15.45% -0.89% -6.34%
Return on Common Equity (ROCE)		 -21.95% -1.35% -9.67%
Return on Equity Simple (ROE_SIMPLE)		 -25.16% -1.28% -9.71%
Net Operating Profit after Tax (NOPAT)		 -15 -3.18 -3.95
NOPAT Margin		 -15.48% -2.40% -3.13%
Net Nonoperating Expense Percent (NNEP)		 -59.22% 13.19% -57.28%
Cost of Revenue to Revenue		 20.35% 18.83% 26.19%
SG&A Expenses to Revenue		 46.96% 39.13% 45.08%
R&D to Revenue		 50.63% 35.14% 30.43%
Operating Expenses to Revenue		 101.76% 77.29% 78.28%
Earnings before Interest and Taxes (EBIT)		 -22 4.90 -5.89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 14 3.11
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 3.93 3.78 4.65
Price to Tangible Book Value (P/TBV)		 10.77 8.94 10.92
Price to Revenue (P/Rev)		 4.26 3.42 4.39
Price to Earnings (P/E)		 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.19 4.21 5.01
Enterprise Value to Revenue (EV/Rev)		 4.17 3.30 4.30
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 31.74 174.56
Enterprise Value to EBIT (EV/EBIT)		 0.00 89.33 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 41.62 2,188.37
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.09 0.25 0.25
Long-Term Debt to Equity		 0.00 0.25 0.25
Financial Leverage		 -0.16 -0.11 -0.11
Leverage Ratio		 1.42 1.51 1.53
Compound Leverage Factor		 1.45 0.77 1.94
Debt to Total Capital		 8.45% 19.69% 19.91%
Short-Term Debt to Total Capital		 8.45% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 19.69% 19.91%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 91.55% 80.31% 80.09%
Debt to EBITDA		 -0.78 2.13 9.51
Net Debt to EBITDA		 0.70 -1.16 -3.40
Long-Term Debt to EBITDA		 0.00 2.13 9.51
Debt to NOPAT		 -0.65 -9.24 -7.48
Net Debt to NOPAT		 0.58 5.01 2.67
Long-Term Debt to NOPAT		 0.00 -9.24 -7.48
Altman Z-Score		 6.26 6.00 7.16
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 1.80 3.62 3.96
Quick Ratio		 0.92 2.35 2.60
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -5.65 -7.75 -8.33
Operating Cash Flow to CapEx		 -511.07% 360.32% 7.10%
Free Cash Flow to Firm to Interest Expense		 -9.45 -2.22 -2.35
Operating Cash Flow to Interest Expense		 -28.80 3.01 0.07
Operating Cash Flow Less CapEx to Interest Expense		 -34.44 2.18 -0.92
Efficiency Ratios		 - - -
Asset Turnover		 0.57 0.77 0.69
Accounts Receivable Turnover		 10.19 12.45 10.44
Inventory Turnover		 2.19 1.87 2.20
Fixed Asset Turnover		 3.49 4.99 4.95
Accounts Payable Turnover		 8.27 8.15 11.43
Days Sales Outstanding (DSO)		 35.83 29.32 34.95
Days Inventory Outstanding (DIO)		 166.68 194.88 165.82
Days Payable Outstanding (DPO)		 44.13 44.80 31.93
Cash Conversion Cycle (CCC)		 158.38 179.39 168.83
Capital & Investment Metrics		 - - -
Invested Capital		 99 104 108
Invested Capital Turnover		 0.96 1.30 1.19
Increase / (Decrease) in Invested Capital		 -9.82 4.57 4.38
Enterprise Value (EV)		 417 438 543
Market Capitalization		 426 454 553
Book Value per Share		 $7.74 $8.48 $8.33
Tangible Book Value per Share		 $2.82 $3.59 $3.55
Total Capital		 118 149 148
Total Debt		 10 29 30
Total Long-Term Debt		 0.00 29 30
Net Debt		 -9.00 -16 -11
Capital Expenditures (CapEx)		 3.37 2.92 3.49
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 17 17 21
Debt-free Net Working Capital (DFNWC)		 36 63 61
Net Working Capital (NWC)		 26 63 61
Net Nonoperating Expense (NNE)		 12 -1.64 7.59
Net Nonoperating Obligations (NNO)		 -9.00 -16 -11
Total Depreciation and Amortization (D&A)		 9.19 8.89 9.00
Debt-free, Cash-free Net Working Capital to Revenue		 16.52% 13.11% 16.38%
Debt-free Net Working Capital to Revenue		 35.53% 47.32% 48.19%
Net Working Capital to Revenue		 25.52% 47.32% 48.19%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($1.96) ($0.11) ($0.82)
Adjusted Weighted Average Basic Shares Outstanding		 13.92M 14.03M 14.15M
Adjusted Diluted Earnings per Share		 ($1.96) ($0.11) ($0.82)
Adjusted Weighted Average Diluted Shares Outstanding		 13.92M 14.03M 14.15M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 14.04M 14.16M 14.33M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 4.50 -3.95
Normalized NOPAT Margin		 -15.48% 3.40% -3.13%
Pre Tax Income Margin		 -22.50% 1.88% -5.95%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 -36.78 1.40 -1.66
NOPAT to Interest Expense		 -25.87 -0.91 -1.12
EBIT Less CapEx to Interest Expense		 -42.41 0.57 -2.65
NOPAT Less CapEx to Interest Expense		 -31.50 -1.75 -2.10
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00%

Quarterly Metrics and Ratios for Surmodics

This table displays calculated financial ratios and metrics derived from Surmodics' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 4.11% 8.41% 8.39% 4.18% 111.17% 7.63% 22.54% 17.50% -42.19% -2.06%
EBITDA Growth		 -769.12% -347.07% -404.80% -73.89% 587.38% 95.61% 139.62% 132.79% -113.61% -114.20%
EBIT Growth		 -184.83% -1,347.60% -115.79% -35.93% 402.51% 63.20% 95.01% 108.82% -125.39% -567.30%
NOPAT Growth		 -199.62% -1,252.35% -110.08% -34.35% 252.35% 62.95% 95.55% 121.28% -149.34% -670.50%
Net Income Growth		 -71.92% -4,996.19% -178.91% -89.40% 229.99% 145.45% 89.98% 103.19% -202.83% -364.50%
EPS Growth		 -70.83% -5,200.00% -180.00% -89.66% 226.83% 145.28% 89.29% 103.64% -201.92% -333.33%
Operating Cash Flow Growth		 -226.93% -381.21% -53.74% -38.69% 840.38% 150.00% 18.61% 0.00% -107.85% 10.21%
Free Cash Flow Firm Growth		 -9,468.33% 113.11% 116.51% 98.45% 147.71% -221.08% 1,355.45% 257.41% -168.46% -202.59%
Invested Capital Growth		 64.13% -8.99% -10.27% -3.32% -14.01% 4.60% 0.00% -0.17% 12.66% 0.00%
Revenue Q/Q Growth		 -4.80% 4.56% -4.06% 9.08% 92.97% -46.71% 9.23% 0.00% -5.06% 0.00%
EBITDA Q/Q Growth		 -88.66% 9.56% -17.73% 13.43% 628.78% -100.81% 1,163.54% 0.00% -319.48% 0.00%
EBIT Q/Q Growth		 -44.10% 6.06% -10.92% 9.46% 420.68% -111.43% 84.96% 0.00% -1,023.34% 0.00%
NOPAT Q/Q Growth		 -45.78% 7.42% -9.32% 8.94% 265.31% -122.51% 86.86% 0.00% -483.28% 0.00%
Net Income Q/Q Growth		 -38.40% -160.63% 46.75% 1.40% 195.00% -8.88% -111.74% 0.00% -3,158.30% 0.00%
EPS Q/Q Growth		 -41.38% -158.54% 47.17% 1.79% 194.55% -7.69% -112.50% 0.00% -2,750.00% 0.00%
Operating Cash Flow Q/Q Growth		 16.74% 28.51% -332.08% 46.07% 544.48% -95.17% -803.36% 0.00% 0.00% -315.80%
Free Cash Flow Firm Q/Q Growth		 -2.60% 110.56% 45.76% -109.80% 3,265.22% -126.79% 1,852.08% 0.00% -1,476.55% 0.00%
Invested Capital Q/Q Growth		 -3.02% -12.06% 11.00% 2.13% -13.75% 6.97% -100.00% 0.00% -2.67% 0.00%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 79.32% 78.46% 78.88% 78.90% 86.81% 74.83% 71.19% 77.78% 72.16% 75.19%
EBITDA Margin		 -19.48% -16.85% -20.67% -16.41% 44.96% -0.69% 6.68% 4.58% -10.58% -0.97%
Operating Margin		 -28.74% -25.45% -28.99% -24.20% 40.80% -8.76% -1.05% 2.06% -17.70% -8.29%
EBIT Margin		 -28.40% -25.51% -29.50% -24.48% 40.68% -8.72% -1.20% 1.84% -17.86% -8.18%
Profit (Net Income) Margin		 -22.74% -56.67% -31.46% -28.43% 14.00% 23.93% -2.57% 0.77% -24.90% -12.20%
Tax Burden Percent		 78.69% 216.84% 97.94% 105.00% 35.58% -240.01% 108.56% 148.80% 129.99% 124.01%
Interest Burden Percent		 101.74% 102.44% 108.89% 110.62% 96.71% 114.30% 197.28% 28.28% 107.21% 120.21%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 64.42% 0.00% 0.00% -48.80% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -21.66% -17.07% -17.73% -15.22% 18.03% -8.00% 0.00% 0.00% 0.00% -13.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 -20.12% 33.59% 34.51% 79.53% 20.02% -75.42% 0.00% 0.00% 0.00% 677.99%
Return on Net Nonoperating Assets (RNNOA)		 6.36% -5.39% -1.51% -2.22% -2.30% 8.24% 0.00% 0.00% 0.00% -3.36%
Return on Equity (ROE)		 -15.31% -22.46% -19.23% -17.45% 15.73% 0.24% 0.00% 0.00% 0.00% -16.45%
Cash Return on Invested Capital (CROIC)		 -60.85% -5.42% -4.71% -13.46% 15.73% -7.62% 0.00% 0.00% 0.00% -209.82%
Operating Return on Assets (OROA)		 -15.76% -14.45% -16.95% -14.39% 29.15% -6.72% 0.00% 0.00% 0.00% -6.27%
Return on Assets (ROA)		 -12.62% -32.10% -18.07% -16.71% 10.03% 18.44% 0.00% 0.00% 0.00% -9.35%
Return on Common Equity (ROCE)		 -15.31% -22.46% -19.23% -17.45% 15.73% 0.24% 0.00% 0.00% 0.00% -16.45%
Return on Equity Simple (ROE_SIMPLE)		 -10.26% 0.00% -30.12% -35.06% -20.42% 0.00% 0.00% 0.00% 0.00% -12.89%
Net Operating Profit after Tax (NOPAT)		 -5.00 -4.63 -5.06 -4.61 7.62 -1.72 -0.23 0.98 -3.76 -1.74
NOPAT Margin		 -20.12% -17.81% -20.30% -16.94% 14.51% -6.13% -0.74% 3.07% -12.39% -5.80%
Net Nonoperating Expense Percent (NNEP)		 -1.55% -50.66% -52.23% -94.75% -1.99% 67.42% 0.00% -109.81% -31.78% -691.08%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - -1.23%
Cost of Revenue to Revenue		 20.68% 21.54% 21.12% 21.10% 13.19% 25.17% 28.81% 22.22% 27.84% 24.81%
SG&A Expenses to Revenue		 51.72% 53.01% 53.09% 47.68% 24.53% 45.79% 41.04% 40.97% 54.80% 50.71%
R&D to Revenue		 52.20% 47.17% 51.11% 47.52% 21.40% 34.67% 28.36% 32.01% 32.18% 29.88%
Operating Expenses to Revenue		 108.06% 103.91% 107.87% 103.11% 46.01% 83.59% 72.24% 75.72% 89.85% 83.48%
Earnings before Interest and Taxes (EBIT)		 -7.06 -6.63 -7.35 -6.66 21 -2.44 -0.37 0.59 -5.42 -2.45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.84 -4.38 -5.15 -4.46 24 -0.19 2.04 1.46 -3.21 -0.29
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 4.16 3.93 4.47 3.14 3.94 3.78 0.00 0.00 5.07 5.08
Price to Tangible Book Value (P/TBV)		 10.06 10.77 13.81 10.72 10.85 8.94 0.00 0.00 11.73 11.80
Price to Revenue (P/Rev)		 5.32 4.26 4.70 3.12 3.39 3.42 3.72 0.00 0.00 4.52
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 93.06 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.07% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.50 4.19 4.37 2.95 4.40 4.21 0.00 0.00 5.40 5.10
Enterprise Value to Revenue (EV/Rev)		 5.19 4.17 4.73 3.22 3.27 3.30 0.00 0.00 0.00 4.52
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 44.51 31.74 0.00 0.00 0.00 729.42
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 602.69 89.33 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 618.48 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 63.17 41.62 0.00 0.00 0.00 494.55
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 25.85 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.08 0.09 0.28 0.29 0.26 0.25 0.00 0.24 0.25 0.26
Long-Term Debt to Equity		 0.00 0.00 0.28 0.29 0.26 0.25 0.00 0.24 0.25 0.26
Financial Leverage		 -0.32 -0.16 -0.04 -0.03 -0.12 -0.11 0.00 -0.01 -0.10 -0.01
Leverage Ratio		 1.33 1.42 1.45 1.49 1.53 1.51 0.00 1.54 1.59 1.47
Compound Leverage Factor		 1.35 1.46 1.58 1.64 1.48 1.72 0.00 0.44 1.70 1.76
Debt to Total Capital		 7.40% 8.45% 21.57% 22.22% 20.71% 19.69% 0.00% 19.21% 19.99% 20.93%
Short-Term Debt to Total Capital		 7.40% 8.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 21.57% 22.22% 20.71% 19.69% 0.00% 19.21% 19.99% 20.93%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 92.60% 91.55% 78.43% 77.78% 79.29% 80.31% 0.00% 80.79% 80.01% 79.07%
Debt to EBITDA		 -1.50 -0.78 -1.74 -1.56 3.06 2.13 0.00 0.00 0.00 38.08
Net Debt to EBITDA		 1.82 0.70 -0.18 -0.54 -1.59 -1.16 0.00 0.00 0.00 -0.71
Long-Term Debt to EBITDA		 0.00 0.00 -1.74 -1.56 3.06 2.13 0.00 0.00 0.00 38.08
Debt to NOPAT		 -0.89 -0.65 -1.63 -1.52 42.49 -9.24 0.00 0.00 0.00 -5.42
Net Debt to NOPAT		 1.08 0.58 -0.17 -0.52 -22.04 5.01 0.00 0.00 0.00 0.10
Long-Term Debt to NOPAT		 0.00 0.00 -1.63 -1.52 42.49 -9.24 0.00 0.00 0.00 -5.42
Altman Z-Score		 7.64 6.58 6.06 4.44 5.47 5.87 0.00 0.00 0.00 8.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 2.04 1.80 3.73 3.20 2.68 3.62 0.00 4.39 3.98 5.45
Quick Ratio		 1.07 0.92 2.11 1.64 1.76 2.35 0.00 2.77 2.55 3.24
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -49 5.19 7.56 -0.74 23 -6.28 110 1.17 -16 -113
Operating Cash Flow to CapEx		 -406.16% -437.06% -1,105.63% -805.67% 5,508.72% 167.11% -1,221.11% 0.00% -211.99% -2,613.91%
Free Cash Flow to Firm to Interest Expense		 -339.05 27.61 9.16 -0.84 26.54 -7.02 122.88 1.32 -18.27 -128.06
Operating Cash Flow to Interest Expense		 -24.12 -13.30 -13.08 -6.59 29.29 1.40 -9.81 0.00 -2.31 -8.95
Operating Cash Flow Less CapEx to Interest Expense		 -30.06 -16.34 -14.26 -7.41 28.76 0.56 -10.62 0.00 -3.40 -9.29
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.56 0.57 0.57 0.59 0.72 0.77 0.00 0.00 0.00 0.77
Accounts Receivable Turnover		 10.89 10.19 11.27 8.89 12.36 12.45 0.00 0.00 0.00 9.99
Inventory Turnover		 2.19 2.19 2.01 1.87 1.84 1.87 0.00 0.00 0.00 2.07
Fixed Asset Turnover		 3.41 3.49 3.57 3.63 4.76 4.99 0.00 0.00 0.00 5.27
Accounts Payable Turnover		 10.97 8.27 10.88 7.37 10.66 8.15 0.00 0.00 0.00 12.36
Days Sales Outstanding (DSO)		 33.51 35.83 32.38 41.04 29.53 29.32 0.00 0.00 0.00 36.54
Days Inventory Outstanding (DIO)		 166.46 166.68 181.65 195.05 198.12 194.88 0.00 0.00 0.00 176.01
Days Payable Outstanding (DPO)		 33.28 44.13 33.54 49.54 34.23 44.80 0.00 0.00 0.00 29.54
Cash Conversion Cycle (CCC)		 166.69 158.38 180.50 186.55 193.42 179.39 0.00 0.00 0.00 183.01
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 113 99 110 113 97 104 0.00 112 109 111
Invested Capital Turnover		 1.08 0.96 0.87 0.90 1.24 1.30 0.00 0.00 0.00 2.26
Increase / (Decrease) in Invested Capital		 44 -9.82 -13 -3.87 -16 4.57 -110 -0.19 12 111
Enterprise Value (EV)		 509 417 482 332 427 438 0.00 0.00 591 567
Market Capitalization		 521 426 479 322 443 454 514 0.00 599 567
Book Value per Share		 $8.94 $7.74 $7.64 $7.26 $7.95 $8.48 $0.00 $8.76 $8.29 $7.80
Tangible Book Value per Share		 $3.70 $2.82 $2.47 $2.12 $2.88 $3.59 $0.00 $3.93 $3.58 $3.36
Total Capital		 135 118 137 132 142 149 0.00 153 148 141
Total Debt		 10 10 29 29 29 29 0.00 29 30 30
Total Long-Term Debt		 0.00 0.00 29 29 29 29 0.00 29 30 30
Net Debt		 -12 -9.00 3.07 10 -15 -16 0.00 -11 -8.66 -0.55
Capital Expenditures (CapEx)		 0.86 0.57 0.98 0.72 0.47 0.75 0.72 0.00 0.96 0.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 19 17 21 23 9.22 17 0.00 24 22 29
Debt-free Net Working Capital (DFNWC)		 41 36 47 42 54 63 0.00 65 60 59
Net Working Capital (NWC)		 31 26 47 42 54 63 0.00 65 60 59
Net Nonoperating Expense (NNE)		 0.65 10 2.78 3.12 0.27 -8.41 0.56 0.73 3.80 1.91
Net Nonoperating Obligations (NNO)		 -12 -9.00 3.07 10 -15 -16 0.00 -11 -8.66 -0.55
Total Depreciation and Amortization (D&A)		 2.22 2.25 2.20 2.20 2.24 2.25 2.41 0.88 2.21 2.16
Debt-free, Cash-free Net Working Capital to Revenue		 18.95% 16.52% 20.38% 22.27% 7.06% 13.11% 0.00% 0.00% 0.00% 22.73%
Debt-free Net Working Capital to Revenue		 41.51% 35.53% 46.33% 40.90% 41.20% 47.32% 0.00% 0.00% 0.00% 46.76%
Net Working Capital to Revenue		 31.29% 25.52% 46.33% 40.90% 41.20% 47.32% 0.00% 0.00% 0.00% 46.76%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.41) ($1.06) ($0.56) ($0.55) $0.52 $0.48 $0.00 $0.02 ($0.53) ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 13.93M 13.92M 13.98M 14.03M 14.05M 14.03M 0.00 14.15M 14.17M 14.23M
Adjusted Diluted Earnings per Share		 ($0.41) ($1.06) ($0.56) ($0.55) $0.52 $0.48 $0.00 $0.02 ($0.53) ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 13.93M 13.92M 13.98M 14.03M 14.07M 14.03M 0.00 14.18M 14.17M 14.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 14.01M 14.04M 14.13M 14.13M 14.13M 14.16M 0.00 14.26M 14.27M 14.30M
Normalized Net Operating Profit after Tax (NOPAT)		 -5.00 -4.63 -5.06 -3.71 15 -1.72 -0.23 0.46 -3.76 -1.74
Normalized NOPAT Margin		 -20.12% -17.81% -20.30% -13.64% 28.56% -6.13% -0.74% 1.44% -12.39% -5.80%
Pre Tax Income Margin		 -28.89% -26.14% -32.12% -27.08% 39.34% -9.97% -2.37% 0.52% -19.15% -9.84%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -48.68 -35.27 -8.90 -7.53 24.15 -2.73 -0.41 0.67 -6.17 -2.78
NOPAT to Interest Expense		 -34.48 -24.62 -6.13 -5.21 8.62 -1.92 -0.25 1.11 -4.28 -1.97
EBIT Less CapEx to Interest Expense		 -54.61 -38.31 -10.09 -8.35 23.62 -3.56 -1.21 0.00 -7.26 -3.12
NOPAT Less CapEx to Interest Expense		 -40.42 -27.67 -7.31 -6.03 8.09 -2.75 -1.06 0.00 -5.37 -2.31
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Surmodics' Financials

When does Surmodics's fiscal year end?

According to the most recent income statement we have on file, Surmodics' financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Surmodics' net income changed over the last 3 years?

Surmodics' net income appears to be on an upward trend, with a most recent value of -$11.54 million in 2024, falling from $4.24 million in 2021. The previous period was -$1.54 million in 2023.

What is Surmodics's operating income?
Surmodics's total operating income in 2024 was -$5.65 million, based on the following breakdown:
  • Total Gross Profit: $93.05 million
  • Total Operating Expenses: $98.70 million
How has Surmodics revenue changed over the last 3 years?

Over the last 3 years, Surmodics' total revenue changed from $105.14 million in 2021 to $126.08 million in 2024, a change of 19.9%.

How much debt does Surmodics have?

Surmodics' total liabilities were at $59.67 million at the end of 2024, a 9.4% decrease from 2023, and a 9.5% increase since 2021.

How much cash does Surmodics have?

In the past 3 years, Surmodics' cash and equivalents has ranged from $19.00 million in 2022 to $41.42 million in 2023, and is currently $36.12 million as of their latest financial filing in 2024.

How has Surmodics' book value per share changed over the last 2 years?

Over the last 2 years, Surmodics' book value per share changed from 7.74 in 2022 to 8.33 in 2024, a change of 7.7%.


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This page (NASDAQ:SRDX) was last updated on 4/20/2025 by MarketBeat.com Staff
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