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Terns Pharmaceuticals, Inc.(TERN)Earnings, Financials & Key Ratios
TERN•NASDAQ
$52.95
Price updated Jun 20, 2026
AboutTerns Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis (NASH) and obesity. The company develops TERN-101, a liver-distributed and non-bile acid farnesoid X receptor agonist, which is in Phase IIa clinical trial for the treatment of NASH; and TERN-201, a vascular adhesion protein-1 inhibitor that is in Phase Ib clinical trial for the treatment of NASH. It also develops TERN-501, a thyroid hormone receptor beta agonist with enhanced liver distribution and metabolic stability that is in Phase I clinical trial for the treatment of NASH; and TERN-601, a small-molecule Glucagon-Like Peptide-1 receptor agonist program that is intended to orally be administered for NASH and metabolic diseases, such as obesity. The company was incorporated in 2016 and is headquartered in Foster City, California.Show more
- Revenue$0
- EBITDA-$110M-9.1%
- Net Income-$96M-8.3%
- EPS (Diluted)-1.03+8.0%
- ROE-14.23%+51.9%
TERN Price & Volume
Terns Pharmaceuticals, Inc. (TERN) stock price & volume — 10-year historical chart
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Robust Cash Reserves Support Clinical Pipeline Development
Investment Thesis • Updated 2025Q4
VerdictNeutral
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Clinical trial execution risk
Key Thesis Takeaways
- Terns Pharmaceuticals maintains a pre-revenue profile characterized by consistent R&D spending, averaging $18.5 million per quarter over the last ten quarters to advance its small-molecule pipeline.
- While the company's $524.7 million cash position provides a substantial runway through 2027, the lack of commercial revenue and persistent quarterly operating losses near $27 million necessitate ongoing monitoring of capital efficiency.
- Investors should remain cautious regarding potential future equity dilution, as the firm relies on capital markets to fund its high-risk clinical development programs.
Verdict Logic
while the $524.7 million cash reserve provides a strong liquidity buffer, the absence of revenue and consistent quarterly net losses of over $23 million suggest that long-term value remains highly dependent on successful clinical trial outcomes.
TERN Growth Metrics
Terns Pharmaceuticals, Inc. (TERN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-8.28%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM8.85%
Return on Capital
10 Years-49.7%
5 Years-31.93%
3 Years-29.42%
Last Year-16.23%
TERN Recent Earnings
Terns Pharmaceuticals, Inc. (TERN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)
Q2 2026Latest
May 14, 2026Metric
Actual
Est
EPS
$0.26+13.3%
$0.30
Rev
—
—
Q2 2026
Apr 2, 2026Metric
Actual
Est
EPS
$0.25+13.8%
$0.29
Rev
—
—
Q2 2026
Mar 30, 2026Metric
Actual
Est
EPS
$0.25+13.8%
$0.29
Rev
—
—
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$0.27+10.0%
$0.30
Rev
—
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 14, 2026 | $0.26vs $0.30+13.3% | — |
| Q2 2026 | Apr 2, 2026 | $0.25vs $0.29+13.8% | — |
| Q2 2026 | Mar 30, 2026 | $0.25vs $0.29+13.8% | — |
| Q4 2025 | Nov 10, 2025 | $0.27vs $0.30+10.0% | — |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Terns Pharmaceuticals, Inc. (TERN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $52.95 | $4.77B | -51.41 | — | — | -14.23% | — | |
| $545.36 | $12.57B | -42.44 | 432.05% | -27.32% | -50.15% | — | |
| $54.65 | $4.5B | -14.57 | — | — | -30.58% | — | |
| $36.17 | $7.94B | 70.92 | 59% | -0.56% | -2.48% | — | |
| $50.92 | $3.1B | -27.83 | — | — | -21.04% | — | |
| $56.63 | $3.26B | -23.60 | — | — | -15.14% | — |
Compare TERN vs Peers
Terns Pharmaceuticals, Inc. (TERN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TERN SEC Filings & Documents
Terns Pharmaceuticals, Inc. (TERN) SEC filings — annual & quarterly reports (10-K, 10-Q)
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TERN Frequently Asked Questions
Terns Pharmaceuticals, Inc. (TERN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Is TERN profitable?
Terns Pharmaceuticals, Inc. (TERN) reported a net loss of $96.2M for fiscal year 2025.
Dividend & Returns
What is TERN's return on equity?
Terns Pharmaceuticals, Inc. (TERN) has a return on equity (ROE) of -14.2%. Negative ROE indicates the company is unprofitable.
What is Terns Pharmaceuticals, Inc.'s free cash flow?
Terns Pharmaceuticals, Inc. (TERN) had negative free cash flow of $82.2M in fiscal year 2025, likely due to heavy capital investments.