Latest Ratios: P/E Ratio 19.3x · EV/EBITDA 67.8x · ROE 102.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.2B | $4.8B | $4.8B | $2.5B | $1.6B | $2.5B | $6.0B | $981M | $309M | $509M | $228M |
| Enterprise Value | $8.4B | $5.0B | $4.9B | $2.6B | $1.6B | $2.3B | $5.5B | $909M | $268M | $452M | $203M |
| P/E Ratio → | 19.32 | 10.76 | 200.67 | 200.23 | — | — | — | — | — | — | — |
| P/S Ratio | 13.29 | 7.81 | 14.67 | 10.86 | 575.19 | 375.58 | 39471.44 | 6453.25 | 2035.62 | 3340.12 | 1496.53 |
| P/B Ratio | 13.33 | 7.43 | 21.70 | 15.80 | 27.34 | 10.59 | 11.55 | 25.40 | 12.87 | 7.60 | 6.36 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.10 | 14.89 | 10.93 | 568.28 | 342.71 | 36106.55 | 5980.67 | 1760.02 | 2968.74 | 1332.71 |
| EV / EBITDA | 67.77 | 40.41 | 116.09 | 121.31 | — | — | — | — | — | — | — |
| EV / EBIT | 67.91 | 37.23 | 98.75 | 99.48 | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.7% | 83.7% | 88.3% | 94.0% | 90.5% | 88.2% | 100.0% | 100.0% | 42.1% | 46.0% | 58.7% |
| Operating Margin | 20.0% | 20.0% | 12.7% | 8.8% | -7839.0% | -5154.3% | -179996.1% | -111220.4% | -114736.8% | -77904.6% | -51823.5% |
| Net Profit Margin | 72.6% | 72.6% | 7.1% | 5.4% | -8036.3% | -5204.1% | -183803.3% | -113730.9% | -114132.9% | -77749.9% | -51353.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 102.8% | 102.8% | 12.2% | 11.6% | -151.4% | -92.0% | -100.1% | -551.9% | -381.2% | -230.4% | -113.9% |
| ROA | 54.5% | 54.5% | 5.2% | 4.8% | -78.1% | -69.3% | -70.8% | -140.2% | -191.7% | -155.7% | -93.0% |
| ROIC | 16.4% | 16.4% | 13.3% | 14.2% | -578.0% | -2052.2% | — | — | — | -835.7% | -205.5% |
| ROCE | 17.7% | 17.7% | 11.0% | 9.9% | -96.0% | -80.9% | -88.7% | -274.2% | -305.5% | -221.2% | -112.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.40 | 0.40 | 1.14 | 0.69 | 1.42 | 0.33 | 0.08 | 1.06 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | 2.11 | 2.11 | 6.01 | 5.26 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.28 | 0.33 | 0.11 | -0.33 | -0.93 | -0.98 | -1.86 | -1.74 | -0.84 | -0.70 |
| Net Debt / EBITDA | 1.47 | 1.47 | 1.75 | 0.85 | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 5.02 | 5.02 | 2.07 | 2.04 | -20.96 | -60.74 | -43.14 | -31.70 | -99.54 | -103.23 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.10 | 4.10 | 6.25 | 5.92 | 3.16 | 5.06 | 6.99 | 1.77 | 2.03 | 3.34 | 3.01 |
| Quick Ratio | 3.29 | 3.29 | 5.03 | 5.18 | 3.16 | 5.06 | 6.99 | 1.77 | 1.78 | 3.05 | 2.68 |
| Cash Ratio | 0.92 | 0.92 | 3.43 | 4.05 | 3.04 | 4.81 | 6.91 | 1.66 | 1.77 | 3.03 | 2.66 |
| Asset Turnover | — | 0.58 | 0.57 | 0.71 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory Turnover | 0.80 | 0.80 | 0.35 | 0.35 | — | — | — | — | 0.01 | 0.01 | 0.01 |
| Days Sales Outstanding | — | 181.01 | 143.32 | 79.81 | — | 75.79 | — | — | 228.13 | 259.81 | 200.85 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 9.3% | 0.5% | 0.5% | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.1% | 1.9% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.1% | 1.9% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $161M | $160M | $149M | $135M | $132M | $115M | $88M | $75M | $62M | $49M |
Single asset revenue dependency
Based on reported figures, TGTX trades at a P/S multiple of 13.87, which appears to price in significant future market share gains or a potential takeover premium rather than current fundamental earnings, especially when compared to the more mature valuation profiles of established neurology sector peers.
The forward P/E of 41.13 suggests that investors are banking on rapid margin expansion as the Briumvi launch matures. However, this valuation is aggressive given the company's historical volatility and the competitive threat posed by established CD20 incumbents, implying that any deceleration in NBRx growth could lead to significant multiple compression.
According to recent financial statements, TGTX's ROIC of 5.3% in 2026Q1 remains well below the cost of capital for a biotechnology firm, indicating that the company is still in the early stages of compounding returns on its heavy investment in commercial infrastructure and market access.
The erratic nature of ROE, which spiked to 88.5% in 2025Q3 before normalizing, suggests that returns are currently driven by non-recurring accounting events rather than sustainable operational compounding. Investors should monitor whether the company can maintain positive ROIC as it transitions from a launch-phase entity to a steady-state commercial operator.
As reported in quarterly filings, the company's cash conversion cycle remains highly inefficient, with DIO reaching 342 days in 2026Q1, suggesting that the firm is struggling to optimize its inventory management and receivables collection during the aggressive national rollout of its primary neurology asset.
The high DSO of 153 days indicates significant reliance on customer payment terms, which may be a strategic necessity to secure formulary access but creates a persistent drag on liquidity. This inefficiency highlights the difficulty of scaling a single-product biologic launch without the established back-office infrastructure of larger pharmaceutical competitors.
Based on recent SEC filings, TGTX maintains a current ratio of 5.81, yet this figure masks a reliance on periodic capital raises to fund operations, as the company's cash position remains sensitive to the high burn rate associated with its specialized sales force and ongoing R&D.
While the quick ratio of 5.12 suggests a comfortable cushion against short-term obligations, the lack of consistent free cash flow generation means the company remains vulnerable to capital market volatility. The reliance on external financing to maintain this liquidity position warrants close monitoring by investors concerned about potential future dilution.
Investors frequently misapply the net margin metric to TGTX, as the reported 72.56% figure is heavily distorted by non-recurring licensing income and tax benefits, which obscures the underlying reality that the core US commercial business is still operating with much thinner, more volatile margins.
Relying on net margin as a proxy for earning power is dangerous for this business model, as it ignores the high SG&A intensity required to compete with Roche and Novartis. Analysts should instead focus on operating margin and free cash flow conversion to gauge the true sustainability of the Briumvi franchise.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying TGTX stock.
TG Therapeutics, Inc.'s current P/E ratio is 19.3x. The historical average is 7.0x. This places it at the 100th percentile of its historical range.
TG Therapeutics, Inc.'s current EV/EBITDA is 67.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 40.4x.
TG Therapeutics, Inc.'s return on equity (ROE) is 102.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -128.0%.
Based on historical data, TG Therapeutics, Inc. is trading at a P/E of 19.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TG Therapeutics, Inc. has 83.7% gross margin and 20.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
TG Therapeutics, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.