EDAP TMS S.A. (FOCL) AI Stock Analysis

EDAP TMS S.A., doing business as FocalTherics, develops, manufactures, markets, and sells non-invasive therapeutic ultrasound and energy-based medical devices globally. Its portfolio includes Focal One, a robotic high-intensity focused ultrasound (HIFU) system designed to treat prostate cancer, along with associated disposables, leasing, and maintenance services. The company also produces and distributes lithotripters for urinary tract stones, providing spare parts, replacement electrodes, and maintenance. Additionally, it distributes third-party medical products, such as lasers and micro-ultrasound systems, serving academic, public, and private hospitals and clinics worldwide.

Annual revenue increased from $52.1M in FY2021 to $70.7M in FY2025, reflecting a 5-year revenue CAGR of 8.3%. Revenue grew 11.2% in FY2022, 12.8% in FY2023, 6.2% in FY2024, and 2.0% in FY2025. Gross margin stood at 42.5% in FY2025, compared to 41.8% in FY2021. However, profitability contracted, with operating margin deteriorating from -6.7% in FY2021 to -35.6% in FY2025, while net income shifted from $827,386 to -$29.3M. In the latest quarter ended June 30, 2026, quarterly revenue growth accelerated to 38.8% year-over-year, bringing trailing twelve month revenue to $79.3M with an operating margin of -60.8% and EPS of -$1.39.

As of June 30, 2026, EDAP TMS held $21.5M in cash and short-term investments against total debt of $39.9M, resulting in net debt of $18.4M. Total assets stood at $74.5M, while shareholders' equity was -$3.2M, reflecting negative equity. The company maintained a current ratio of 1.60. Cash flow from operations was -$16.5M in FY2025, contributing to free cash flow of -$21.4M after capital expenditures of $4.9M. Over the past five years, the share count increased by 8.6%.

At a market capitalization of $193.1M and an enterprise value of $242.3M, EDAP TMS trades at a price-to-sales multiple of 2.4x and an EV-to-revenue ratio of 2.8x. Its forward P/E of 38.9x sits above the 17.3x median of its US-listed Healthcare peers, while its price-to-sales multiple of 2.4x is below the peer median of 4.1x. Over the past year, the stock returned 69.0%, outperforming the S&P 500 (SPY) return of 16.8%. Over five years, the stock declined 32.4% compared to an 83.0% gain for SPY.

Analyst coverage consists of 3 Strong Buy and 2 Hold ratings. The mean price target is $8.80, representing an implied upside of 115.2% over the last close of $4.09 on October 16, 2026. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $52.0M and EPS of -$1.04. For the following fiscal year, analysts estimate revenue of $69.7M and EPS of -$0.67. The company has beaten EPS estimates in 1 of the last 4 quarters, with the next earnings date scheduled for November 5, 2026.

This page is an AI-written research summary of EDAP TMS S.A. (FOCL). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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