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Mdxhealth Sa (MDXH)

Nasdaq: MDXH · Services-Medical Laboratories · Herstal, BE · filing with the SEC since 2021
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Grade5.4
◀ Past 6.1● Present 5.0▶ Future 5.2
2 est.
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The grade of Mdxhealth Sa

Nine metrics read from its own filings, by tense
Headline grade
5.4/10
◀ Past6.130% of the headline
● Present5.040% of the headline
▶ Future5.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.1/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
7.8/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 33% of this tense · 78th percentile among 27 sector filers · read for itself

From the record

Mdxhealth Sa's filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.7/10

What has it actually done, year after year?

+44.6% a year over 7 filed years; profitable in 0 of 7.

weight 45% of this tense · 67th percentile among 23 sector filers · read for its customers

From the record

Mdxhealth Sa's 7 filed years say what it did: revenue went from $12 million in fiscal 2019 to $108 million in fiscal 2025, up 44.6% a year; it rose in 6 of 6 years; it never fell from a peak; net income was positive in 0 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span44.6%top 24% of its family
  • the share of years revenue rosetop 15% of its family
  • the share of filed years with a profitbottom 24% of its family
  • the deepest fall from a revenue peak0.0%top 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
2.0/10

How has it treated the people who own it?

SI estimate 2.0/10, confidence 35 of 100 (one part).

weight 22% of this tense · 20th percentile among 24 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 20% of 24 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 24 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Mdxhealth Sa's shareholder treatment is put at 2.0 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 20% of 24 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.0/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
3.3/10

Is it financially healthy right now?

Leverage 108%: owes 108¢ per asset dollar.

weight 33% of this tense · 33rd percentile among 25 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Mdxhealth Sa's shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 47 cents per dollar of everything the company owns. Leverage: it owed about 108 cents per dollar of assets, and net share issuance: its share count grew 52.0% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 6% of its family
  • gross profit against assetstop 22% of its family
  • the share count against the year beforebottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.8/10

How strong is its position in its industry?

top 42% of 24 in its family; net margin -31.1%.

weight 45% of this tense · 58th percentile among 24 sector filers · read for its customers

From the record

Mdxhealth Sa's standing among 24 graded names in its industry family: revenue of $108 million in fiscal 2025 ranks in the bottom 46% by size; a net margin of -31.1% ranks in the bottom 40%; revenue growth of 42.8% a year over the last 3 filed years ranks in the top 11% (its annual reports).

What it rests on

  • revenue against the family$108Mbottom 46% of its family
  • net margin-31.1%bottom 40% of its family
  • three-year revenue growth42.8%top 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.9/10

What are the people in charge doing?

SI estimate 5.9/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 20 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 20 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 20 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Mdxhealth Sa's leadership is put at 5.9 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 7 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 20 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.2/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.1/10

How much room does it have to grow?

top 49% of 24 in its family for room to expand.

weight 22% of this tense · 51st percentile among 24 sector filers · read for itself

From the record

Mdxhealth Sa's room to grow, from the newest filed statements (fiscal 2025): cash of $29 million against no long-term debt tagged leaves 19.6% of its assets as net cash, top 37% of its family; cash from operations less capital spending is -3.1% of revenue (top 44%); a gross margin of 64.5% (top 28%); research spending of 9.6% of revenue (bottom 14%) (its annual report).

What it rests on

  • cash less debt against assets19.6%top 37% of its family
  • cash from operations less capital spending against revenue-3.1%top 44% of its family
  • gross margin64.5%top 28% of its family
  • research spending against revenue9.6%bottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.6/10

What could actually drive growth from here?

top 44% of 23 in its family for growth drivers.

weight 45% of this tense · 56th percentile among 23 sector filers · read for its customers

From the record

Mdxhealth Sa's growth drivers, from the filed years to fiscal 2025: revenue grew 42.8% a year over the last three filed years against 44.6% over all 7, slowing (bottom 46% of its family); the newest year grew 19.8% (top 28%); research spending grew 23.5% a year (top 19%); capital spending grew -25.4% a year (bottom 26%) (its annual reports). Mdxhealth Sa tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-1.8 points a yearbottom 46% of its family
  • the newest year's revenue growth19.8%top 28% of its family
  • three-year growth of research spending23.5%top 19% of its family
  • three-year growth of capital spending-25.4%bottom 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.6/10

Did its newest year beat what its own record pointed to?

bottom 46% of 20 in its family for expectations against reality.

weight 33% of this tense · 46th percentile among 20 sector filers · read for its shareholders

From the record

Mdxhealth Sa's newest year against its own record: revenue of $108 million in fiscal 2025 came in 23.1% below the $140 million its prior three years' pace pointed to (bottom 18% of its family); net income of $34 million against a prior three-year average of $42 million (top 47%); a net margin of -31.1% against -74.2% before (top 32%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-23.1%bottom 18% of its family
  • net income against the prior three years' average+20%top 47% of its family
  • net margin against its prior average+43.1 pointstop 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton MDXH · research, not advice