📊 DCTH Key Takeaways
Is Delcath Systems, Inc.. (DCTH) a Good Investment?
Delcath demonstrates exceptional revenue growth (+129% YoY) with exceptional gross margins (85.1%), supported by a fortress balance sheet with $41.3M cash and zero debt. However, the company remains unprofitable operationally (-6.5% margin) and generates minimal free cash flow (1.1% FCF margin), indicating it is a pre-profitability medical device company requiring successful execution on operational efficiency and scale.
Delcath Systems shows strong fundamental momentum with revenue up 129.1% YoY, very high gross margins of 86.2%, and positive net income and free cash flow generation. The balance sheet is exceptionally strong with no long-term debt and substantial cash, but the very thin 0.8% operating margin suggests the business still needs to prove durable operating leverage as it scales.
Delcath Systems, Inc.. Key Strengths (DCTH)
- Exceptional revenue growth of 129.1% YoY indicates strong market adoption
- Exceptional gross margin of 85.1% demonstrates pricing power and product differentiation
- Fortress balance sheet with $41.3M cash, zero long-term debt, and 11.24x current ratio provides substantial runway
- Stockholders equity of $112.7M against only $12.1M liabilities shows minimal financial risk
- Recent insider activity (8 Form 4 filings in 90 days) shows management engagement
- Exceptional top-line growth with revenue increasing 129.1% YoY
- Very strong financial position with $43.45M cash, no long-term debt, and high liquidity
- High-quality cash generation with $22.52M operating cash flow and $20.97M free cash flow
DCTH Stock Risks: Delcath Systems, Inc.. Investment Risks
- Operating loss of $1.6M despite $25M revenue indicates company not yet operationally profitable at current scale
- Operating cash flow of only $857K (3.4% of revenue) is dangerously low relative to revenue generation
- Free cash flow of $287K is minimal and unsustainable as a business model; company must reach profitability soon
- Pre-profitability status in medical devices sector carries significant execution risk on product-market fit and regulatory approval
- Net loss of $1.1M with negative ROE/ROA indicates shareholder value destruction despite growth
- Operating profitability remains fragile with only a 0.8% operating margin
- Returns on capital are still modest with ROE of 2.4% and ROA of 2.2%
- Recent profit improvement may be vulnerable if revenue growth slows or expenses rise faster than sales
Key Metrics to Watch
- Path to operating profitability: Watch for operating margin inflection toward break-even
- Operating cash flow conversion: Monitor if OCF scales with revenue (should approach 10%+ of revenue)
- Gross margin sustainability: Verify if 85% margin can be maintained at higher volumes
- Cash runway adequacy: Track quarterly burn rate relative to $41.3M cash balance
- Operating margin expansion
- Sustained revenue growth with positive free cash flow
Delcath Systems, Inc.. (DCTH) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The relatively thin 1.1% FCF margin may limit capital allocation flexibility. Strong liquidity with a 11.24x current ratio provides a solid financial cushion.
DCTH Profit Margin, ROE & Profitability Analysis
DCTH vs Healthcare Sector: How Delcath Systems, Inc.. Compares
How Delcath Systems, Inc.. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Delcath Systems, Inc.. Stock Overvalued? DCTH Valuation Analysis 2026
Based on fundamental analysis, Delcath Systems, Inc.. has mixed fundamental signals relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Delcath Systems, Inc.. Balance Sheet: DCTH Debt, Cash & Liquidity
DCTH Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Delcath Systems, Inc..'s revenue has grown significantly by 2,297% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.93 indicates the company is currently unprofitable.
DCTH Revenue Growth, EPS Growth & YoY Performance
DCTH Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $19.8M | $1.1M | $0.03 |
| Q3 2025 | $11.2M | $830.0K | $0.02 |
| Q2 2025 | $7.8M | $1.1M | $0.07 |
| Q1 2025 | $3.1M | $1.1M | $0.03 |
| Q3 2024 | $434.0K | $1.9M | $0.06 |
| Q2 2024 | $495.0K | -$7.2M | $-0.48 |
| Q1 2024 | $597.0K | -$9.0M | $-0.45 |
| Q3 2023 | $434.0K | -$7.2M | $-0.96 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Delcath Systems, Inc.. Dividends, Buybacks & Capital Allocation
DCTH SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Delcath Systems, Inc.. (CIK: 0000872912)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| May 14, 2026 | 4 | xslF345X06/form4-05142026_090516.xml | View → |
| May 14, 2026 | 4 | xslF345X06/form4-05142026_090552.xml | View → |
| May 14, 2026 | 4 | xslF345X06/form4-05142026_050505.xml | View → |
| May 14, 2026 | 4 | xslF345X06/form4-05142026_050503.xml | View → |
| May 14, 2026 | 4 | xslF345X06/form4-05142026_050501.xml | View → |
❓ Frequently Asked Questions about DCTH
What is the AI rating for DCTH?
Delcath Systems, Inc.. (DCTH) has a Combined AI Grade of A from Claude (B) and ChatGPT (A) with 72% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are DCTH's key strengths?
Claude: Exceptional revenue growth of 129.1% YoY indicates strong market adoption. Exceptional gross margin of 85.1% demonstrates pricing power and product differentiation. ChatGPT: Exceptional top-line growth with revenue increasing 129.1% YoY. Very strong financial position with $43.45M cash, no long-term debt, and high liquidity.
What are the risks of investing in DCTH?
Claude: Operating loss of $1.6M despite $25M revenue indicates company not yet operationally profitable at current scale. Operating cash flow of only $857K (3.4% of revenue) is dangerously low relative to revenue generation. ChatGPT: Operating profitability remains fragile with only a 0.8% operating margin. Returns on capital are still modest with ROE of 2.4% and ROA of 2.2%.
What is DCTH's revenue and growth?
Delcath Systems, Inc.. reported revenue of $25.0M.
Does DCTH pay dividends?
Delcath Systems, Inc.. does not currently pay dividends.
Where can I find DCTH SEC filings?
Official SEC filings for Delcath Systems, Inc.. (CIK: 0000872912) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is DCTH's EPS?
Delcath Systems, Inc.. has a diluted EPS of $-0.03.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is DCTH's fundamental grade?
Based on our AI fundamental analysis in June 2026, Delcath Systems, Inc.. has a A grade with 72% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is DCTH stock overvalued or undervalued?
Valuation metrics for DCTH: ROE of -0.9% (sector avg: 15%), net margin of -4.3% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is DCTH's AI grade for 2026?
Our dual AI analysis gives Delcath Systems, Inc.. a combined A grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is DCTH's free cash flow?
Delcath Systems, Inc..'s operating cash flow is $857.0K, with capital expenditures of $570.0K. FCF margin is 1.1%.
How does DCTH compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -4.3% (avg: 12%), ROE -0.9% (avg: 15%), current ratio 11.24 (avg: 2).