Tonix Pharmaceuticals Holding Corp. (TNXP) Key Metrics
TNXP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $103.6M
- Enterprise value
- $1.0M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 3.6
- Price / book
- 0.8
- EV / EBITDA
- 0.9
- Dividend yield
- —
- Beta
- 1.79
TNXP key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTNXP returns How much profit the business earns on the capital it uses.
TNXP financial health Debt, liquidity and how easily interest is covered.
TNXP efficiency & capital use Working capital cycle and where the cash goes.
TNXP valuation history
TNXP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TNXP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TNXP cash returned to shareholders
TNXP price vs earnings per share
TNXP key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $132.9M | — | — | — | — | — | — | — | — | — |
| Enterprise value | −$73.4M | — | — | — | — | — | — | — | — | — |
| Price / sales | 10.1 | — | — | — | — | — | — | — | — | — |
| Price / book | 0.5 | — | — | — | — | — | — | — | — | — |
| EV / sales | -5.6 | — | — | — | — | — | — | — | — | — |
| Earnings yield | −93.3% | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | −77.6% | — | — | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 10.4% | — | — | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $15.62 | $33.00 | $1,280.00 | $7,800.00 | $230,400.00 | $435,200.00 | $748,800.00 | $1,000,320.00 | $998,400.00 | $1,024,000.00 |
| Per share | ||||||||||
| Revenue per share | $1.54 | — | — | — | — | — | — | — | — | — |
| Earnings per share | −$14.57 | — | — | — | — | — | — | — | — | — |
| Operating cash flow per share | −$11.73 | — | — | — | — | — | — | — | — | — |
| Free cash flow per share | −$12.13 | — | — | — | — | — | — | — | — | — |
| Cash per share | $24.40 | — | — | — | — | — | — | — | — | — |
| Book value per share | $28.80 | — | — | — | — | — | — | — | — | — |
| Tangible book value per share | $28.79 | — | — | — | — | — | — | — | — | — |
| Capex per share | $0.40 | — | — | — | — | — | — | — | — | — |
| Debt per share | $0.15 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 8.5M | — | — | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −64.5% | −106.1% | −74.6% | −54.0% | −60.2% | −103.8% | −171.6% | −108.1% | −84.5% | −118.4% |
| Return on invested capital (ROIC) | −233.9% | −158.3% | −105.0% | −137.6% | −275.7% | −766.1% | — | — | — | — |
| Return on assets (ROA) | −56.4% | −82.0% | −61.4% | −49.3% | −54.4% | −89.4% | −138.9% | −98.3% | −77.9% | −104.2% |
| Return on tangible assets | −44.8% | −79.9% | −81.2% | −51.0% | −38.3% | −51.4% | −196.6% | −99.6% | −79.3% | −141.8% |
| Free cash flow margin | −787.5% | −604.8% | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $1.3M | $5.3M | $9.8M | $760,000 | $956,000 | $1.3M | $358,000 | — | $0 | $0 |
| Cash & short-term investments | $207.6M | $98.8M | $24.9M | $120.2M | $178.7M | $77.1M | $11.2M | $25.0M | $25.5M | $26.1M |
| Net debt | −$206.3M | −$93.5M | −$15.1M | −$119.5M | −$177.7M | −$75.8M | −$10.9M | −$25.0M | −$25.5M | −$26.1M |
| Debt / equity | 0.01 | 0.04 | 0.09 | 0.00 | 0.00 | 0.01 | 0.04 | — | 0.00 | 0.00 |
| Debt / assets | 0.00 | 0.03 | 0.06 | 0.00 | 0.00 | 0.01 | 0.02 | — | 0.00 | 0.00 |
| Current ratio | 7.42 | 6.50 | 2.53 | 7.19 | 8.71 | 8.96 | 2.72 | 9.81 | 12.44 | 12.83 |
| Quick ratio | 7.23 | 6.04 | 1.78 | 7.64 | 8.71 | 9.74 | 2.91 | 9.81 | 12.44 | 12.83 |
| Interest coverage | — | -110.8 | — | -14.2 | — | — | — | — | — | — |
| Working capital | $198.0M | $100.7M | $28.9M | $112.6M | $167.3M | $78.2M | $8.8M | $23.4M | $24.3M | $25.0M |
| Invested capital | $38.8M | $46.1M | $90.4M | $87.7M | $41.0M | $11.9M | −$1.5M | −$1.4M | −$880,000 | −$760,000 |
| Tangible asset value | $245.0M | $139.4M | $94.8M | $207.1M | $218.6M | $87.5M | $9.3M | $23.5M | $24.5M | $25.2M |
| Net current asset value | $196.9M | $95.7M | −$1.2M | $112.3M | $166.9M | $77.5M | $8.8M | $23.4M | $24.3M | $25.0M |
| Graham net-net per share | $21.85 | — | — | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $6.7M | — | $451,000 | $2.5M | $3.3M | $0 | $0 |
| Share buybacks (net) | $13.8M | $0 | $14.0M | $47.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / revenue | 25.7% | 1.2% | 101.6% | 533.4% | — | 293.9% | — | — | — | — |
| Capex / depreciation | 1.75 | 0.04 | 1.84 | 38.43 | 706.14 | 317.19 | 0.65 | 0.11 | 0.07 | 0.32 |
| Stock-based compensation / revenue | 45.9% | 47.3% | 119.4% | 120.9% | — | 98.7% | — | — | — | — |
| R&D / revenue | 339.4% | 400.7% | 1,115.5% | 907.0% | — | 1,240.8% | — | — | — | — |
| SG&A / revenue | 669.0% | 397.3% | 447.4% | 334.7% | — | 492.6% | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 245.9 | 225.9 | 296.8 | 318.8 | — | 541.0 | — | — | — | — |
| Days of inventory on hand | 307.3 | 530.1 | 235.0 | -26.2 | — | -31.2 | -12.8 | — | — | — |
| Days payables outstanding | 269.8 | 195.7 | 456.2 | 34.8 | 35.3 | 27.7 | 28.3 | 18.7 | 18.6 | 18.4 |
| Cash conversion cycle (days) | 283.4 | 560.3 | 75.6 | 257.9 | — | 482.1 | — | — | — | — |
| Receivables turnover | 1.48 | 1.62 | 1.23 | 1.14 | 0.00 | 0.67 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payables turnover | 1.35 | 1.86 | 0.80 | 10.50 | 10.33 | 13.17 | 12.89 | 19.50 | 19.64 | 19.88 |
| Inventory turnover | 1.19 | 0.69 | 1.55 | — | — | — | — | — | — | — |
| Asset turnover | 0.06 | 0.06 | 0.04 | 0.04 | 0.00 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $8.8M | $6.2M | $6.3M | $7.9M | $7.7M | $4.3M | $768,000 | $509,500 | $443,000 | $1.6M |
| Average payables | $6.3M | $4.2M | $5.9M | $10.7M | $8.9M | $3.8M | $2.2M | $1.4M | $1.1M | $2.0M |
| Average inventory | $7.2M | $11.3M | $3.1M | −$8.0M | — | −$4.3M | −$1.0M | — | $0 | $0 |
| Intangibles / total assets | 0.0% | 0.1% | 6.9% | 0.1% | 0.0% | 0.1% | 0.8% | 0.5% | 0.4% | 0.4% |
Computed from TNXP's annual financial statements (latest annual report filed March 12, 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.
TNXP valuation and financial ratios
Tonix Pharmaceuticals earned a return on equity of −64.5% and a return on invested capital of −233.9% in fiscal 2025. It ended the year with $1.3 million of debt and $207.6 million in cash and short-term investments, a net cash position of $206.3 million. It returned $13.8 million to shareholders: $0 in dividends and $13.8 million in share buybacks.
See the TNXP income statement, the TNXP chart for price history, or the TNXP stock overview for the latest quote and news.
TNXP key metrics FAQ
What is Tonix Pharmaceuticals's return on equity?
Tonix Pharmaceuticals's return on equity (ROE) was −64.5% in fiscal 2025: net income of -$124.0 million on average shareholders' equity of $192.4 million.
What is Tonix Pharmaceuticals's ROIC?
Tonix Pharmaceuticals's return on invested capital was −233.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tonix Pharmaceuticals have?
Tonix Pharmaceuticals had total debt of $1.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
Does Tonix Pharmaceuticals buy back its shares?
Yes. Tonix Pharmaceuticals spent $13.8 million on net share repurchases in fiscal 2025.
What is Tonix Pharmaceuticals's free cash flow yield?
Tonix Pharmaceuticals generated -$103.2 million of free cash flow in fiscal 2025, a free cash flow yield of −77.6% on its market value at year-end ($132.9 million).
What is Tonix Pharmaceuticals's current ratio?
Tonix Pharmaceuticals's current ratio was 7.42 at the end of fiscal 2025: current assets were 7.42 times current liabilities.