Baird Medical Investment Holdings Ltd is a US-listed company in the health care equipment industry. Its financial year ends in December.
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Under review: every model's value for Baird Medical Investment Holdings Ltd is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Under review: cash-flow, stock-pay or share-count figures missing or out of date. We'll show the comparison once resolved.
Baird Medical Investment Holdings Ltd valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $23m. Free-cash-flow margin held at -6.2%. The diluted share count is up 27.3% on a year earlier, which dilutes existing holders. It passes 3 of our 6 financial-health checks.
Our model value for Baird Medical Investment Holdings is under review, so past values are not shown until it is resolved.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Baird Medical Investment Holdings Ltd's trailing-twelve-month revenue fell 39.2% year on year, with a free-cash-flow margin of -6.2%. Where it stands out: gross margin of 83.8% ranks 15 of 123 health care equipment companies we cover. Where it lags: days sales outstanding of 689 days ranks 118 of 118 health care equipment companies we cover.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -39.2% (-56.9pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Baird Medical Investment Holdings Ltd's latest figures clears our strength thresholds.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for BDMD from the sources we follow. See filings →
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Baird Medical Investment Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 8.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.71 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$2.1 ~$1.4–$3.3 | Left out: out of range vs price (15.00x) |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$2.0 ~$1.7–$2.5 | Left out: out of range vs price (14.71x) |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.7 ~$0.8–$3.6 | Left out: out of range vs price (5.36x) |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Baird Medical Investment Holdings Ltd with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share price | $10.26 | $10.71 | $7.60 | $1.36 |
| Market value | $262m | $221m | $166m | $38m |
| + Net debt (− = net cash) | −$2m | $920580 | $1m | $9m |
| Enterprise value | $260m | $221m | $167m | $46m |
| Multiples | ||||
| Price / sales | 7.5x | 7.0x | 4.5x | 1.7x |
| Price / earnings | 20.9x | 20.9x | 13.3x | — |
| Price / free cash flow | — | — | — | — |
| EV / EBITDA | 17.9x | 17.2x | 10.2x | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.08 | — | $28m | — |
| Next | $0.14 | +75% | $33m | +18% |
| Calendar year | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|
| Return | |||||
| BDMD | +4% | +4% | −29% | −82% | −90% |
| Industry peers (median) | −37% | −9% | −19% | −16% | −13% |
| S&P 500 | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | |||||
| BDMD | 50% | 83% | 58% | 33% | 18% |
| S&P 500 | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | |||||
| BDMD | −2% | −2% | −91% | −90% | −96% |
| S&P 500 | −25% | −10% | −8% | −19% | −9% |
Worst fall since December 16, 2021: 99% from September 24, 2024 to November 2, 2026. Getting back needed a 8675% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY22 Q4 | $35.1M |
| FY23 Q4 | $31.5M |
| FY24 Q4 | $37M |
| FY25 Q4 | $22.5M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY22 Q4 | 38.8% |
| FY23 Q4 | 37.7% |
| FY24 Q4 | 41.4% |
| FY25 Q4 | -113.7% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY22 Q4 | -15.5% |
| FY23 Q4 | -11.6% |
| FY24 Q4 | -24.8% |
| FY25 Q4 | -6.2% |
| Fiscal year | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 35 | 31 | 37 | 23 |
| Gross profit | 28 | 27 | 33 | 19 |
| EBITDA | 15 | 13 | 16 | −25 |
| Operating income | 14 | 12 | 15 | −26 |
| Net income | 13 | 11 | 12 | −27 |
| Diluted EPS | $0.49 | $0.51 | $0.57 | −$0.98 |
| Growth (year on year) | ||||
| Revenue | — | −10.4% | +17.7% | −39.2% |
| EBITDA | — | −11.5% | +27.8% | −249.1% |
| Operating income | — | −13.0% | +29.1% | −267.4% |
| Net income | — | −16.1% | +18.1% | −319.0% |
| Diluted EPS | — | +4.1% | +11.8% | −271.9% |
| Margins | ||||
| Gross margin | 79.9% | 86.6% | 88.2% | 83.8% |
| EBITDA margin | 41.5% | 40.9% | 44.4% | −108.8% |
| Operating margin | 38.8% | 37.7% | 41.4% | −113.7% |
| Net margin | 35.8% | 33.5% | 33.6% | −121.0% |
| Free-cash-flow margin | −15.5% | −11.6% | −24.8% | −6.2% |
| Cash flow | ||||
| Cash from operations | 0 | −1 | −6 | −1 |
| Capital spending | 6 | 3 | 3 | 0 |
| Free cash flow | −5 | −4 | −9 | −1 |
| Stock-based pay | — | 0 | 0 | 17 |
| Free cash flow after stock pay | — | −4 | −9 | −19 |
| Balance sheet | ||||
| Cash | 2 | 2 | 3 | 0 |
| Total debt | 0 | 2 | 4 | 9 |
| Net debt (negative = net cash) | −2 | 1 | 1 | 9 |
| Diluted shares | 26m | 21m | 22m | 28m |
| Last 12 months unless stated | BDMD | SNOA | VVOS | NEPH | ZJYL | QTI | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $23m | $22m | $21m | $21m | $21m | $26m | $99m |
| Revenue growth, last 12 months | −39.2% | 47.0% | 45.2% | 24.2% | −12.0% | 220.0% | 9.2% |
| Revenue growth, 3-year average | — | 19.9% | 10.6% | 19.3% | — | — | 13.5% |
| Revenue growth, latest quarter | — | 59.6% | 34.9% | 36.2% | — | 103.2% | 10.2% |
| Gross margin | 83.8% | 38.9% | 61.9% | 61.3% | 29.2% | 40.4% | 61.2% |
| Operating margin | −113.7% | −6.4% | −107.9% | 7.9% | 2.9% | −24.8% | −8.5% |
| Operating margin, 3-year average | — | −22.4% | −101.0% | 2.0% | — | −140.1% | −17.9% |
| Net margin | −121.0% | −10.3% | −121.8% | 8.4% | 5.8% | −77.3% | −12.0% |
| Cash from operations / revenue | −6.0% | −11.7% | −82.0% | −3.4% | 14.0% | −47.2% | −1.9% |
| Free-cash-flow margin | −6.2% | −12.1% | −91.0% | −4.0% | −18.0% | −48.2% | −3.9% |
| Free-cash-flow margin, 3-year average | — | −15.2% | −94.3% | −0.1% | — | — | −7.0% |
| Stock pay / revenue | 77.5% | 1.2% | 1.9% | 1.3% | — | 5.8% | 6.1% |
| Change in share count | 27.3% | 55.4% | 20.4% | 4.0% | 0.0% | 256.7% | 4.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -39.2% | 9.1% | 125 of 129 |
| Change in growth rate Growth | -56.9pp | -0.6pp | 127 of 129 |
| Gross margin Profitability | 83.8% | 61.9% | 15 of 123 |
| Operating margin Profitability | -113.7% | -8.3% | 104 of 132 |
| Net margin Profitability | -121.0% | -12.0% | 105 of 133 |
| Free-cash-flow margin Cash generation | -6.2% | -3.4% | 69 of 128 |
| Stock pay as % of revenue Cash generation | 77.5% | 6.1% | 113 of 123 |
| Long-term debt as % of assets Balance sheet | 8.7% | 24.2% | 23 of 87 |
| Change in share count Balance sheet | 27.3% | 3.3% | 98 of 115 |
| Days sales outstanding Balance sheet | 689 days | 57 days | 118 of 118 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| UBS Group AG | $67,490 | 59K | 18.6% | ▼ 13.5% |
| Two Sigma Investments, LP | $63,825 | 56K | 17.6% | ▲ 19.1% |
| Renaissance Technologies LLC | $63,677 | 55K | 17.6% | New |
| Citadel Advisors LLC | $63,129 | 55K | 17.4% | New |
| Jane Street Group, LLC | $36,310 | 32K | 10.0% | ▼ 19.9% |
| National Bank Of Canada | $32,757 | 28K | 9.0% | ▲ 143.5% |
| Geode Capital Management, LLC | $22,535 | 20K | 6.2% | ▼ 23.0% |
| Xtx Topco Ltd | $12,846 | 11K | 3.5% | New |
| Wolverine Asset Management LLC | $236 | 0K | 0.1% | 0.0% |
| Caitong International Asset Management Co., Ltd | $5 | 0K | 0.0% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Baird Medical Investment Holdings Ltd's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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