TScan Therapeutics, Inc. (TCRX) Key Metrics
TCRX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $15.1M
- Enterprise value
- $15.4M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 2.2 10-yr median 12.6
- Price / book
- 0.4 10-yr median 1.1
- EV / EBITDA
- 0.4
- Dividend yield
- —
- Beta
- 1.14
TCRX key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTCRX valuation Price multiples at each fiscal year-end price.
TCRX returns How much profit the business earns on the capital it uses.
TCRX per-share figures Results divided by the shares outstanding at year-end.
TCRX financial health Debt, liquidity and how easily interest is covered.
TCRX efficiency & capital use Working capital cycle and where the cash goes.
TCRX valuation history
TCRX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TCRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TCRX price vs earnings per share
TCRX key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $129.9M | $340.5M | $382.4M | $37.3M | $107.6M | — | — |
| Enterprise value | $71.6M | $147.7M | $282.8M | $3.2M | −$47.8M | — | — |
| Price / sales | 12.6 | 120.9 | 18.2 | 2.8 | 10.6 | — | — |
| Price / book | 1.1 | 1.4 | 2.5 | 0.4 | 0.7 | — | — |
| EV / sales | 6.9 | 52.5 | 13.4 | 0.2 | -4.7 | — | — |
| Earnings yield | −99.9% | −37.5% | −23.3% | −177.7% | −45.2% | — | — |
| Free cash flow yield | −107.6% | −33.7% | −16.9% | −189.7% | −54.5% | — | — |
| Dividend yield | 0.0% | 0.0% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.0% | — | 0.0% | 0.0% | — | — |
| Share price at fiscal year-end | $1.00 | $3.04 | $5.83 | $1.55 | $4.50 | — | — |
| Per share | |||||||
| Revenue per share | $0.08 | $0.03 | $0.32 | $0.56 | $0.42 | $0.04 | $0.00 |
| Earnings per share | −$1.00 | −$1.14 | −$1.36 | −$2.75 | −$2.03 | −$1.05 | −$0.55 |
| Operating cash flow per share | −$1.04 | −$0.99 | −$0.94 | −$2.77 | −$2.04 | −$0.12 | −$0.50 |
| Free cash flow per share | −$1.08 | −$1.02 | −$0.98 | −$2.94 | −$2.45 | −$0.29 | −$0.55 |
| Cash per share | $1.17 | $2.59 | $2.93 | $4.99 | $6.75 | $1.40 | $1.67 |
| Book value per share | $0.95 | $2.15 | $2.30 | $4.13 | $6.72 | −$1.70 | $1.71 |
| Tangible book value per share | $0.95 | $2.15 | $2.30 | $4.13 | $6.72 | −$1.70 | $1.71 |
| Dividends per share | $0.00 | $0.00 | — | — | — | — | — |
| Capex per share | $0.03 | $0.03 | $0.05 | $0.18 | $0.42 | $0.17 | $0.05 |
| Debt per share | $0.72 | $0.87 | $1.41 | $3.58 | $0.25 | $0.30 | $0.20 |
| Shares outstanding | 129.9M | 112.0M | 65.6M | 24.0M | 23.9M | 24.9M | 24.9M |
| Change in shares outstanding | +16.0% | +70.7% | +172.8% | +0.6% | −4.1% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | −71.3% | −65.1% | −71.3% | −50.9% | −82.2% | — | −32.1% |
| Return on invested capital (ROIC) | −189.7% | −214.1% | −126.6% | −148.7% | — | — | −198.1% |
| Return on assets (ROA) | −43.3% | −39.6% | −37.9% | −34.2% | −40.9% | −52.7% | −27.7% |
| Return on tangible assets | −56.7% | −34.4% | −32.8% | −33.3% | −25.8% | −52.5% | −27.7% |
| Free cash flow margin | — | — | −306.4% | −522.6% | −578.0% | −669.2% | — |
| Financial health | |||||||
| Total debt | $94.1M | $97.4M | $92.4M | $86.0M | $6.0M | $7.4M | $4.9M |
| Cash & short-term investments | $152.4M | $290.1M | $192.0M | $120.0M | $161.4M | $34.8M | $41.8M |
| Net debt | −$58.3M | −$192.7M | −$99.6M | −$34.0M | −$155.4M | −$27.4M | −$36.9M |
| Debt / equity | 0.76 | 0.40 | 0.61 | 0.86 | 0.04 | — | 0.11 |
| Debt / assets | 0.41 | 0.26 | 0.34 | 0.43 | 0.03 | 0.15 | 0.10 |
| Current ratio | 8.41 | 8.14 | 6.51 | 7.17 | 7.76 | 2.09 | 17.69 |
| Quick ratio | 8.41 | 8.14 | 6.51 | 7.17 | 7.76 | 2.09 | 17.69 |
| Interest coverage | -49.0 | -36.9 | -24.9 | -56.7 | — | — | — |
| Working capital | $138.5M | $256.8M | $164.4M | $106.8M | $144.3M | $19.0M | $40.0M |
| Invested capital | $64.9M | $48.2M | $51.3M | $65.4M | $5.4M | −$69.8M | $5.7M |
| Tangible asset value | $123.1M | $241.0M | $150.9M | $99.4M | $160.8M | −$42.5M | $42.5M |
| Net current asset value | $51.5M | $162.6M | $73.0M | $24.5M | $138.3M | −$55.8M | $35.5M |
| Graham net-net per share | $0.36 | $1.43 | $1.08 | $0.85 | $5.61 | −$2.30 | $1.40 |
| Capital allocation | |||||||
| Dividends paid | $0 | $0 | — | — | — | — | — |
| Share buybacks (net) | $0 | — | — | $0 | $0 | — | — |
| Capex / revenue | 42.7% | 135.8% | 14.9% | 31.2% | 98.0% | 390.6% | — |
| Capex / depreciation | 1.54 | 0.93 | 0.59 | 0.82 | 2.99 | 3.45 | 2.40 |
| Stock-based compensation / revenue | 113.4% | 339.1% | 24.7% | 33.6% | 24.8% | 47.5% | — |
| R&D / revenue | 1,105.6% | 3,812.1% | 418.8% | 442.0% | 443.3% | 1,896.5% | — |
| SG&A / revenue | 309.8% | 1,049.7% | 121.1% | 150.4% | 136.4% | 621.3% | — |
| Efficiency | |||||||
| Days payables outstanding | 351.4 | 295.5 | 10.9 | 166.2 | 256.4 | 34.8 | 39.0 |
| Payables turnover | 1.04 | 1.24 | 33.35 | 2.20 | 1.42 | 10.50 | 9.35 |
| Asset turnover | 0.03 | 0.01 | 0.09 | 0.07 | 0.09 | 0.02 | 0.00 |
| Average payables | $2.8M | $3.3M | $2.6M | $2.3M | $2.3M | $2.0M | $1.0M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from TCRX's annual financial statements (latest annual report filed March 4, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TCRX valuation and financial ratios
TScan Therapeutics earned a return on equity of −71.3% and a return on invested capital of −189.7% in fiscal 2025. It ended the year with $94.1 million of debt and $152.4 million in cash and short-term investments, a net cash position of $58.3 million. The share count rose 420.7% from 24.9M to 129.9M over 6 years.
See the TCRX income statement, the TCRX chart for price history, or the TCRX stock overview for the latest quote and news.
TCRX key metrics FAQ
What is TScan Therapeutics's return on equity?
TScan Therapeutics's return on equity (ROE) was −71.3% in fiscal 2025: net income of -$129.8 million on average shareholders' equity of $182.0 million.
What is TScan Therapeutics's ROIC?
TScan Therapeutics's return on invested capital was −189.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TScan Therapeutics have?
TScan Therapeutics had total debt of $94.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.76 and more cash than debt.
Does TScan Therapeutics pay a dividend?
TScan Therapeutics did not pay a dividend in fiscal 2025.
What is TScan Therapeutics's free cash flow yield?
TScan Therapeutics generated -$139.7 million of free cash flow in fiscal 2025, a free cash flow yield of −107.6% on its market value at year-end ($129.9 million).
What is TScan Therapeutics's current ratio?
TScan Therapeutics's current ratio was 8.41 at the end of fiscal 2025: current assets were 8.41 times current liabilities.