Reading DCTH? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track DCTH free→Reading DCTH? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track DCTH free→NASDAQHealth CareMedical DevicesSnapshot 2026-06-15
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality is robust, cash backs up reported profits. Management's recent track record has been neutral, while risk is elevated and the sector backdrop is a headwind. Peer multiples imply a price roughly in line with where it trades (about fair); the read is fair. If DCTH cuts guidance on the next call, that's a meaningful negative. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 3 valuation methods, at three horizons. Current price $11.79. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $12 DCTH trades at 5× p/s — 1.8× the 3× p/s peer median. The market is re-rating it beyond its own range; our $12 fair value is medium-confidence here. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 0% of near-term growth above a flat-multiple fair value; not enough history to forecast a comparison. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 37.80x of net income into operating cash flow. Historically, Health Care names rated robust grew net income 60% of the time over the next year (vs 48% for the rest of the cohort, n=1703).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$194.
How much price usually moves either way.
On a bad day, this stock has moved -$472.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $4,692.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: If health care revenue growth picks up, it could boost Delcath's outlook.
Confirms:Health care revenue growth shows a return to above 10% year-over-year.
Disproves:Revenue growth is still below 10% compared to last year.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for DCTH yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Omnibus Equity Incentive Plan At the 2026 annual meeting of stockholders held on May 13, 2026 (the “Annual Meeting”), the stockholders of Delcath Systems, Inc. (the “Company”) approved an amendment to the Company’s 2020 Omnibus Equity Incentive Plan (the “2020 EIP”) to increase by 1,800,000 the number of shares of the Company’s common stock, $0.01…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
Looks more expensive than peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Health Care Equipment.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
DCTH Delcath Systems, Inc. | Typical Show detailsSector percentile: 62 of 100 | fair | elevated |
ABT Abbott Laboratories | Above typical Show detailsSector percentile: 94 of 100 | fair | moderate |
ISRG Intuitive Surgical | Above typical Show detailsSector percentile: 94 of 100 | expensive | moderate |
SYK Stryker Corporation | Above typical Show detailsSector percentile: 71 of 100 | fair | moderate |
MDT Medtronic | Above typical Show detailsSector percentile: 89 of 100 | fair | moderate |
7 material management or governance events in the past 24 months, led by legal/regulatory items. Historically, Health Care names rated neutral grew net income 58% of the time over the next year (vs 50% for the rest of the cohort, n=842).
Not investment advice. As of 2026-06-15.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Delcath aims to achieve a minimum of $100 million in revenue for the fiscal year 2026.
Stated in 2 of last 2 quarters. Revenue grew from $20.7M in 2025-Q4 to $24.994M in 2026-Q1, indicating progress towards the $100M target for 2026. The trajectory shows positive growth, aligning with management's guidance.
“2026 Revenue Guidance of at least $100M.”
“Total CHEMOSAT and HEPZATO KIT revenue to be at least $100 million.”
Delcath aims to maintain gross margins in the range of 84% to 87% for 2026.
Stated in 2 of last 2 quarters. Gross profit increased from $17.718M in 2025-Q4 to $21.258M in 2026-Q1, supporting the target gross margin range of 84% to 87%. The trajectory is delivering on the margin guidance.
Delcath aims to achieve positive adjusted EBITDA for the fiscal year 2026.
Newly stated in 2026-Q1. The company has not yet provided specific EBITDA figures for 2026, but the goal of achieving positive adjusted EBITDA aligns with their revenue growth and margin targets. Limited progress can be assessed until further financials are disclosed.
“Positive adjusted EBITDA.”
as Exhibit 99.1 hereto and is incorporated herein by reference. The information contained in this Current Report on Form 8-K, including the Press Release, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the Press Release shall not be incorporated by reference into any fi…
as Exhibit 99.1 hereto and is incorporated herein by reference. The information contained in this Current Report on Form 8-K, including the Press Release, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the Press Release shall not be incorporated by reference into any fi…
as Exhibit 99.1 and Exhibit 99.2, respectively, and each such exhibit is incorporated herein by reference. The information contained in this Item 2.02, including Exhibits 99.1, and 99.2 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section nor shall it be incorporated by reference into any other filing by Delcath with the U.S. Securities and Exchange Commission whether made before or a…
Other Events. On January 9, 2026, Delcath disclosed in the Corporate Presentation that as of December 31, 2025, (i) it had a total of 25 active sites utilizing HEPZATO KIT and (ii) there were approximately 34.7 million shares of its common stock issued and outstanding. In addition, Delcath disclosed in the Corporate Presentation that the Company achieved positive operating cash for the quarter ended December 31, 2025. On January 9, 2026, Delcath also announced the following preliminary unaudi…
“Gross margins in the range of 84% to 87%.”
“Gross margins in the range of 84% to 87%.”