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Tectonic Therapeutic (TECX) Financials

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$34.96 +0.98 (+2.88%)
As of 02:34 PM Eastern
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Annual Income Statements for Tectonic Therapeutic

Annual Income Statements for Tectonic Therapeutic

This table shows Tectonic Therapeutic's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -19 -49 -73 -120 -119 -106 -43 -58 -74
Consolidated Net Income / (Loss)		 -19 -46 -73 -120 -119 -106 -43 -58 -74
Net Income / (Loss) Continuing Operations		 -19 -46 -73 -119 -119 -106 -43 -58 -74
Total Pre-Tax Income 		-19 -46 -73 -120 -119 -106 -43 -58 -73
Total Operating Income		 -18 -46 -76 -120 -119 -105 -45 -58 -84
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 18 46 76 120 119 105 45 58 84
Selling, General & Admin Expense		 3.20 11 21 33 36 33 7.68 17 21
Research & Development Expense		 15 35 55 87 83 72 37 41 63
Total Other Income / (Expense), net		 -0.26 -0.12 2.84 0.52 -0.29 -0.46 2.08 0.03 11
Interest Expense		 - - - - - - 0.15 0.11 0.06
Interest & Investment Income		 0.06 1.73 2.93 0.72 -0.22 -0.30 0.58 4.26 11
Other Income / (Expense), net		 -0.32 -1.84 -0.09 -0.20 -0.06 -0.16 1.65 -4.12 -0.12
Income Tax Expense		 - - - - - 0.00 - 0.00 1.23
Basic Earnings per Share		 ($8.38) ($3.62) ($2.66) ($3.31) ($2.78) ($2.42) ($33.76) ($6.83) ($4.05)
Weighted Average Basic Shares Outstanding		 2.24M 13.44M 27.43M 36.21M 42.85M 43.74M 1.27M 8.49M 18.32M
Diluted Earnings per Share		 ($8.38) ($3.62) ($2.66) ($3.31) ($2.78) ($2.42) ($33.76) ($6.83) ($4.05)
Weighted Average Diluted Shares Outstanding		 2.24M 13.44M 27.43M 36.21M 42.85M 43.74M 1.27M 8.49M 18.32M
Weighted Average Basic & Diluted Shares Outstanding		 2.24M 13.44M 27.43M 36.21M 42.85M 44.09M 44.86M 18.66M 18.78M
Cash Dividends to Common per Share		 - - - - - - - $0.00 $0.00

Quarterly Income Statements for Tectonic Therapeutic

This table shows Tectonic Therapeutic's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 2.64 -15 -13 -18 -21 -16 -20 -19 -19 -25 -22
Consolidated Net Income / (Loss)		 2.64 -15 -13 -18 -21 -16 -20 -19 -19 -25 -22
Net Income / (Loss) Continuing Operations		 2.84 -15 -13 -18 -21 -16 -20 -19 -19 -25 -22
Total Pre-Tax Income 		2.90 -15 -13 -18 -21 0.00 -19 -19 -19 0.00 -22
Total Operating Income		 1.32 -13 -11 -20 -19 -18 -22 -22 -22 -27 -24
Total Gross Profit		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 -1.32 13 11 20 19 18 22 22 22 27 24
Selling, General & Admin Expense		 -4.05 2.15 4.35 5.32 -0.27 5.26 5.15 4.96 5.18 6.43 6.17
Research & Development Expense		 2.73 11 7.07 14 19 13 17 17 16 21 18
Total Other Income / (Expense), net		 1.58 -2.25 -1.25 1.92 -1.77 2.39 3.32 2.86 2.54 2.06 2.01
Interest Expense		 - 0.03 0.03 0.03 - 0.02 0.02 0.01 0.01 0.01 0.01
Interest & Investment Income		 0.01 0.26 0.32 1.95 0.85 2.44 3.39 2.90 2.56 2.18 2.02
Other Income / (Expense), net		 1.65 -2.48 -1.54 -0.01 -2.56 -0.03 -0.05 -0.03 -0.01 -0.11 -0.01
Income Tax Expense		 - - 0.00 0.00 - 0.00 0.98 0.00 - 0.00 0.08
Basic Earnings per Share		 $2.08 ($10.97) ($4.34) ($1.20) ($2.45) ($0.93) ($1.07) ($1.02) ($1.05) ($1.34) ($1.18)
Weighted Average Basic Shares Outstanding		 1.27M 1.39M 2.92M 14.73M 8.49M 17.16M 18.68M 18.71M 18.32M 18.77M 18.96M
Diluted Earnings per Share		 $2.08 ($10.97) ($4.34) ($1.20) ($2.45) ($0.93) ($1.07) ($1.02) ($1.05) ($1.34) ($1.18)
Weighted Average Diluted Shares Outstanding		 1.27M 1.39M 2.92M 14.73M 8.49M 17.16M 18.68M 18.71M 18.32M 18.77M 18.96M
Weighted Average Basic & Diluted Shares Outstanding		 44.86M 44.89M 14.73M 14.75M 18.66M 18.67M 18.71M 18.72M 18.78M 18.87M 19.55M

Annual Cash Flow Statements for Tectonic Therapeutic

This table details how cash moves in and out of Tectonic Therapeutic's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.61 121 61 73 -70 -97 -7.20 112 113
Net Cash From Operating Activities		 -16 -38 -68 -99 -98 -97 -41 -59 -60
Net Cash From Continuing Operating Activities		 -16 -38 -68 -99 -98 -97 -41 -59 -60
Net Income / (Loss) Continuing Operations		 -19 -46 -73 -120 -119 -106 -43 -58 -74
Consolidated Net Income / (Loss)		 -19 -46 -73 -120 -119 -106 -43 -58 -74
Depreciation Expense		 0.05 0.38 0.85 1.21 1.40 1.44 1.48 1.65 1.38
Non-Cash Adjustments To Reconcile Net Income		 0.61 4.12 6.63 15 19 15 1.25 7.54 13
Changes in Operating Assets and Liabilities, net		 1.59 4.18 -2.18 4.24 1.30 -7.40 -0.58 -10 -0.07
Net Cash From Investing Activities		 -0.38 -1.83 -1.59 -1.18 -2.46 -0.27 -0.28 -0.16 -0.14
Net Cash From Continuing Investing Activities		 -0.38 -1.83 -1.59 -1.18 -2.46 -0.27 -0.28 -0.16 -0.14
Purchase of Property, Plant & Equipment		 -0.38 -1.83 -1.59 -1.18 -2.46 -0.27 -0.28 -0.16 -0.21
Sale of Property, Plant & Equipment		 - - - - - 0.00 - 0.00 0.07
Net Cash From Financing Activities		 17 160 130 173 30 0.26 34 172 173
Net Cash From Continuing Financing Activities		 17 160 130 173 30 0.26 34 172 173
Repayment of Debt		 -0.04 - - 0.00 -0.10 0.00 34 -0.48 -0.49
Issuance of Common Equity		 0.00 104 129 172 15 0.20 - 0.00 173
Other Financing Activities, net		 0.00 -1.98 0.50 0.27 0.92 0.06 0.12 172 0.75
Effect of Exchange Rate Changes		 - - - - - - 0.02 -0.01 -0.10
Cash Interest Paid		 - - - - 0.10 1.43 0.15 0.00 0.00

Quarterly Cash Flow Statements for Tectonic Therapeutic

This table details how cash moves in and out of Tectonic Therapeutic's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 22 -10 164 -26 -18 165 -19 -18 -15 -17 -9.83
Net Cash From Operating Activities		 -12 -9.27 -15 -20 -17 -13 -15 -18 -14 -18 -21
Net Cash From Continuing Operating Activities		 -12 -9.27 -15 -20 -17 -13 -15 -18 -14 -18 -21
Net Income / (Loss) Continuing Operations		 -7.87 -15 -21 -18 -12 -16 -20 -19 -19 -25 -22
Consolidated Net Income / (Loss)		 -7.87 -15 -21 -18 -12 -16 -20 -19 -19 -25 -22
Depreciation Expense		 0.37 0.38 0.71 0.42 0.51 0.36 0.34 0.34 0.33 0.30 0.29
Amortization Expense		 - - - - - - - - - 0.50 0.43
Non-Cash Adjustments To Reconcile Net Income		 -0.41 2.69 3.73 1.96 0.65 2.61 3.17 3.45 3.54 3.23 4.01
Changes in Operating Assets and Liabilities, net		 -3.75 2.88 1.56 -4.27 -5.60 -0.15 1.75 -2.57 0.90 2.80 -3.89
Net Cash From Investing Activities		 -0.05 -0.00 - -0.15 -0.00 -0.03 0.06 -0.17 - -0.02 -0.06
Net Cash From Continuing Investing Activities		 -0.05 -0.00 - -0.15 -0.00 -0.03 0.06 -0.17 - -0.02 -0.06
Purchase of Property, Plant & Equipment		 -0.05 -0.00 - -0.15 -0.00 -0.03 - -0.18 - -0.02 -0.08
Sale of Property, Plant & Equipment		 - - - - - 0.00 - 0.02 - 0.00 0.02
Net Cash From Financing Activities		 34 -0.67 179 -6.29 -1.07 178 -4.17 -0.46 -0.14 0.85 12
Net Cash From Continuing Financing Activities		 34 -0.67 179 -6.29 -1.07 178 -4.17 -0.46 -0.14 0.85 12
Issuance of Common Equity		 - 0.00 - - - 177 -4.17 - - 1.26 12
Other Financing Activities, net		 0.12 -0.55 180 0.08 -8.37 0.97 0.12 -0.33 -0.01 -0.42 -0.13
Effect of Exchange Rate Changes		 0.02 -0.08 - 0.02 0.04 -0.01 -0.03 -0.02 -0.04 0.09 0.00

Annual Balance Sheets for Tectonic Therapeutic

This table presents Tectonic Therapeutic's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 7.02 133 201 271 204 104 39 153 261
Total Current Assets		 6.31 130 196 267 199 100 31 147 257
Cash & Equivalents		 5.96 126 187 260 190 93 29 141 254
Restricted Cash		 - - - - 0.00 0.28 - 0.00 0.59
Prepaid Expenses		 0.35 3.72 8.66 7.56 9.58 7.11 2.12 5.62 2.97
Plant, Property, & Equipment, net		 0.35 2.63 3.70 3.06 4.13 2.89 3.12 2.15 1.19
Total Noncurrent Assets		 0.37 0.83 1.12 0.93 0.57 1.10 5.39 3.90 2.49
Noncurrent Note & Lease Receivables		 - - - - - - 1.44 0.92 0.50
Other Noncurrent Operating Assets		 0.37 0.83 1.12 0.93 0.57 1.10 3.96 2.98 2.00
Total Liabilities & Shareholders' Equity		 7.02 133 201 271 204 104 39 153 261
Total Liabilities		 3.66 11 15 17 34 29 43 12 9.71
Total Current Liabilities		 2.63 11 14 17 19 13 41 12 9.67
Accounts Payable		 0.53 2.78 3.95 2.68 3.49 0.38 0.41 0.98 1.09
Accrued Expenses		 2.10 7.82 9.85 14 16 12 8.14 7.85 7.34
Other Current Liabilities		 - - - - 0.00 1.00 32 2.78 1.23
Total Noncurrent Liabilities		 1.03 0.69 0.48 0.28 15 15 2.52 0.52 0.04
Other Noncurrent Operating Liabilities		 0.91 - - - 0.00 0.19 2.52 0.52 0.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -23 122 186 254 169 75 -85 141 251
Total Preferred & Common Equity		 -23 122 186 254 169 75 -85 141 251
Total Common Equity		 -23 122 186 254 169 75 -85 141 251
Common Stock		 0.34 194 331 519 553 565 5.98 289 474
Retained Earnings		 -23 -72 -145 -264 -384 -489 -91 -149 -223
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - -0.01 0.01 -0.10

Quarterly Balance Sheets for Tectonic Therapeutic

This table presents Tectonic Therapeutic's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 83 134 111 92 194 169 315 295 277 247 237
Total Current Assets		 77 129 109 92 187 163 310 291 273 240 231
Cash & Equivalents		 72 125 106 90 185 159 306 287 268 237 227
Restricted Cash		 0.00 0.28 0.28 0.28 - - - - 0.59 0.00 0.00
Prepaid Expenses		 4.93 3.87 2.86 1.07 2.26 3.50 3.40 3.47 4.22 3.00 4.03
Plant, Property, & Equipment, net		 2.57 2.29 0.00 0.00 2.64 2.55 1.92 1.68 1.41 1.02 0.86
Total Noncurrent Assets		 3.18 2.71 1.35 0.51 3.88 3.57 3.26 2.78 2.35 5.67 5.08
Noncurrent Note & Lease Receivables		 - - - - 2.08 1.03 0.81 0.71 0.60 0.41 0.29
Other Noncurrent Operating Assets		 3.18 2.71 1.35 0.51 1.81 2.54 2.45 2.08 1.75 5.26 4.79
Total Liabilities & Shareholders' Equity		 83 134 111 92 194 169 315 295 277 247 237
Total Liabilities		 30 12 7.66 3.51 28 18 14 12 9.47 16 13
Total Current Liabilities		 14 12 7.56 3.51 26 17 14 11 9.37 13 10
Accounts Payable		 0.59 1.07 0.91 0.24 4.09 2.64 6.25 2.80 1.49 2.55 1.68
Accrued Expenses		 11 8.34 5.00 3.04 20 13 4.91 6.80 6.75 8.97 7.11
Other Current Liabilities		 2.63 2.25 1.65 0.22 1.90 1.95 2.35 1.76 1.14 1.43 1.58
Total Noncurrent Liabilities		 16 0.13 0.11 0.00 1.54 1.04 0.28 0.19 0.10 3.20 2.82
Other Noncurrent Operating Liabilities		 0.35 0.13 0.11 - 1.54 1.04 0.28 0.19 0.10 3.20 2.82
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 53 122 103 89 166 150 301 284 268 230 224
Total Preferred & Common Equity		 53 122 103 89 166 150 301 284 268 230 224
Total Common Equity		 53 122 103 89 166 150 301 284 268 230 224
Common Stock		 567 569 571 573 285 287 466 468 471 478 494
Retained Earnings		 -514 -447 -468 -484 -118 -136 -164 -184 -204 -248 -270
Accumulated Other Comprehensive Income / (Loss)		 - - - - -0.06 -0.08 0.00 -0.05 -0.08 0.00 0.00

Annual Metrics And Ratios for Tectonic Therapeutic

This table displays calculated financial ratios and metrics derived from Tectonic Therapeutic's official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -155.80% -57.43% -58.86% 1.44% 11.36% 60.14% -45.69% -36.85%
EBIT Growth		 0.00% -157.08% -57.84% -58.67% 1.27% 11.19% 59.28% -44.51% -35.44%
NOPAT Growth		 0.00% -151.51% -63.94% -58.59% 1.15% 11.28% 57.65% -29.94% -44.85%
Net Income Growth		 0.00% -148.61% -57.38% -64.07% 0.49% 11.11% 59.56% -35.40% -27.89%
EPS Growth		 0.00% 56.80% 26.52% -24.44% 16.01% 12.95% 59.56% 79.77% 40.70%
Operating Cash Flow Growth		 0.00% -129.81% -79.74% -46.01% 0.79% 0.83% 58.15% -45.23% -1.69%
Free Cash Flow Firm Growth		 0.00% 0.00% -82.02% -42.20% -4.42% 7.95% 99.12% -10,694.18% 22.89%
Invested Capital Growth		 0.00% -58.51% 74.99% -418.25% 3.60% 57.25% -1,389.91% 98.59% -560.04%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -9.77% -4.04% 0.25% 2.44% 40.52% -474.26% -10.13%
EBIT Q/Q Growth		 0.00% 0.00% -9.75% -4.06% 0.14% 2.50% 39.64% -500.52% -9.70%
NOPAT Q/Q Growth		 0.00% 0.00% -9.79% -4.01% 0.09% 2.50% 37.31% -336.69% -9.84%
Net Income Q/Q Growth		 0.00% 0.00% -10.01% -4.79% -0.08% 2.93% 39.26% -383.85% -10.18%
EPS Q/Q Growth		 0.00% 0.00% -210.83% -0.91% -1.83% 2.81% 39.26% -591.37% -12.50%
Operating Cash Flow Q/Q Growth		 0.00% -7.44% -11.81% -13.70% 4.47% 2.24% 22.80% 22.70% 3.78%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -15.99% 4.31% 4.46% 98.64% -422.32% 7.51%
Invested Capital Q/Q Growth		 0.00% 0.00% -358.79% 54.27% 34.03% 30.49% -903.31% 94.70% -104.55%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.60% 100.00% 101.69%
Interest Burden Percent		 99.70% 96.41% 96.13% 99.40% 100.19% 100.28% 99.00% 93.31% 86.65%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -554.18% -73.85% -47.35% -54.37% -56.22% -86.50% -120.02% -84.79% -37.82%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 3,810.06% -58.26% -47.35% -54.37% -56.22% -86.50% 15.58% -34.80% -37.82%
Return on Equity Simple (ROE_SIMPLE)		 80.61% -37.94% -39.23% -47.07% -70.29% -140.49% 50.60% -41.19% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13 -32 -53 -84 -83 -74 -31 -41 -59
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -96.89% -21.16% -12.70% -15.92% -16.55% -25.45% -21.76% -20.44% -7.75%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - 36.93% -28.85% -23.41%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -19 -48 -76 -120 -119 -106 -43 -62 -84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -19 -48 -75 -119 -118 -104 -42 -60 -83
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 39.17 41.12 23.97 11.90 4.97 0.00 4.84 1.55
Price to Tangible Book Value (P/TBV)		 0.00 39.17 41.12 23.97 11.90 4.97 0.00 4.84 1.55
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.09 0.20 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.09 0.20 0.00 0.00 0.00
Financial Leverage		 -1.77 -1.05 -1.02 -1.01 -1.02 -1.03 -1.49 -1.24 -1.01
Leverage Ratio		 2.09 1.12 1.08 1.07 1.12 1.26 2.01 1.41 1.06
Compound Leverage Factor		 2.08 1.08 1.04 1.06 1.12 1.26 1.99 1.31 0.91
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 8.10% 16.85% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 8.10% 16.85% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 787.52% 0.00% 0.00% 0.00% 0.00% 0.00% -2,011.15% 0.00% 0.00%
Common Equity to Total Capital		 -687.52% 100.00% 100.00% 100.00% 91.90% 83.15% 2,111.15% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.13 -0.15 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 1.49 0.74 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.13 -0.15 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.18 -0.21 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 2.10 1.05 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.18 -0.21 0.00 0.00 0.00
Altman Z-Score		 3.52 253.39 315.35 214.89 31.71 -1.08 2.93 32.05 23.01
Noncontrolling Interest Sharing Ratio		 787.52% 21.11% 0.00% 0.00% 0.00% 0.00% 112.98% 58.95% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 2.40 12.26 13.96 16.09 10.27 7.62 0.76 12.65 26.63
Quick Ratio		 2.27 11.91 13.34 15.63 9.78 7.06 0.70 12.17 26.26
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -31 -56 -80 -83 -77 -0.68 -73 -56
Operating Cash Flow to CapEx		 -4,277.28% -2,055.02% -4,269.27% -8,394.48% -3,983.14% -36,407.49% -14,581.00% -37,871.79% -43,534.78%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -4.44 -681.55 -892.57
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -267.64 -552.15 -953.62
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -269.47 -553.61 -955.81
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -2.60 -4.12 -1.03 -5.34 -5.15 -2.20 -33 -0.46 -3.06
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -1.52 3.09 -4.31 0.19 2.95 -31 32 -2.59
Enterprise Value (EV)		 120 4,660 7,463 5,838 1,842 297 779 540 136
Market Capitalization		 100 4,786 7,650 6,098 2,017 374 727 681 390
Book Value per Share		 ($10.35) $5.10 $5.87 $6.98 $3.88 $1.72 ($1.90) $9.54 $13.43
Tangible Book Value per Share		 ($10.35) $5.10 $5.87 $6.98 $3.88 $1.72 ($1.90) $9.54 $13.43
Total Capital		 3.37 122 186 254 184 91 -4.01 141 251
Total Debt		 0.00 0.00 0.00 0.00 15 15 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 15 15 0.00 0.00 0.00
Net Debt		 -5.96 -126 -187 -260 -175 -78 -29 -141 -254
Capital Expenditures (CapEx)		 0.38 1.83 1.59 1.18 2.46 0.27 0.28 0.16 0.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.28 -6.89 -5.36 -9.05 -9.81 -6.00 -39 -5.99 -6.69
Debt-free Net Working Capital (DFNWC)		 3.68 119 182 251 180 87 -10 135 248
Net Working Capital (NWC)		 3.68 119 182 251 180 87 -10 135 248
Net Nonoperating Expense (NNE)		 5.78 14 20 36 36 32 12 17 15
Net Nonoperating Obligations (NNO)		 -5.96 -126 -187 -260 -175 -78 -29 -141 -254
Total Depreciation and Amortization (D&A)		 0.07 0.42 0.85 1.21 1.40 1.44 1.48 1.65 1.38
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($100.56) ($43.44) ($31.92) ($39.72) ($33.36) ($29.04) $3.24 ($6.83) ($4.05)
Adjusted Weighted Average Basic Shares Outstanding		 186.32K 2.01M 3.00M 3.47M 3.64M 3.64M 3.69M 8.49M 18.32M
Adjusted Diluted Earnings per Share		 ($100.56) ($43.44) ($31.92) ($39.72) ($33.36) ($29.04) $3.24 ($6.83) ($4.05)
Adjusted Weighted Average Diluted Shares Outstanding		 186.32K 2.01M 3.00M 3.47M 3.64M 3.64M 3.71M 8.49M 18.32M
Adjusted Basic & Diluted Earnings per Share		 ($100.56) ($43.44) ($31.92) ($39.72) ($33.36) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 186.32K 1.12M 2.29M 3.02M 3.57M 3.67M 3.74M 18.66M 18.78M
Normalized Net Operating Profit after Tax (NOPAT)		 -13 -32 -53 -84 -83 -74 -31 -41 -59
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -282.88 -580.71 -1,335.79
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -205.62 -379.54 -933.73
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -284.71 -582.17 -1,337.98
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -207.45 -381.00 -935.92
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Tectonic Therapeutic

This table displays calculated financial ratios and metrics derived from Tectonic Therapeutic's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 18,662,672.00 18,672,509.00 18,712,128.00 - 18,776,626.00 18,869,186.00
DEI Adjusted Shares Outstanding		 - - - - - 18,662,672.00 18,672,509.00 18,712,128.00 - 18,776,626.00 18,869,186.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.85 -1.07 -1.02 - -1.34 -1.18
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 113.37% 68.03% -19.69% -97.25% -731.75% -19.25% -74.57% -12.27% -56.08% -48.10% -6.67%
EBIT Growth		 111.72% 68.44% -21.83% -94.21% -828.46% -18.67% -72.67% -11.59% -52.82% -49.56% -8.24%
NOPAT Growth		 107.45% 68.51% -7.43% -94.16% -1,110.72% -41.10% -95.53% -11.47% -53.81% -49.20% -8.45%
Net Income Growth		 110.56% 72.72% -21.20% -76.22% -886.45% -4.50% -57.71% -7.44% -55.39% -58.69% -11.51%
EPS Growth		 110.56% 73.68% 49.00% 84.25% -217.79% 91.52% 75.35% 15.00% 28.08% -44.09% -10.28%
Operating Cash Flow Growth		 50.76% 62.68% -5,724.71% -131.15% -44.30% -41.09% -9.99% 9.13% 14.03% -40.74% -45.74%
Free Cash Flow Firm Growth		 254.64% 55.68% 325.66% -18.65% -243.05% 14.39% -493.17% -172.54% 70.39% -87.36% 43.64%
Invested Capital Growth		 -1,389.91% 51.54% -539.08% -167.34% 98.59% -170.65% 80.73% 82.89% -560.04% -24.32% 10.87%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 134.23% -111.54% -53.99% -56.92% -9.62% -32.36% -22.65% 2.09% 1.80% -25.59% 11.67%
EBIT Q/Q Growth		 129.28% -111.54% -62.95% -51.56% -9.84% -30.14% -22.09% 2.05% 1.81% -27.36% 11.64%
NOPAT Q/Q Growth		 118.60% -108.06% -43.82% -71.94% 3.16% -30.80% -22.05% 1.98% 1.71% -26.89% 11.29%
Net Income Q/Q Growth		 126.29% -109.85% -86.12% -39.82% -17.32% -28.55% -25.64% 4.75% -1.00% -31.29% 11.71%
EPS Q/Q Growth		 126.29% -109.62% -2,793.33% 72.35% -104.17% 36.30% -15.05% 4.67% -2.94% -27.62% 11.94%
Operating Cash Flow Q/Q Growth		 -37.45% 5.75% -99.31% -29.95% 14.20% 22.22% -12.50% -21.03% 18.83% -27.33% -16.50%
Free Cash Flow Firm Q/Q Growth		 557.09% -107.64% 202.91% -205.77% -451.11% 77.38% -223.14% 26.68% 44.74% -43.11% 2.79%
Invested Capital Q/Q Growth		 -903.31% 94.13% -874.39% 53.44% 94.70% -1,025.27% 30.61% 58.67% -104.55% -111.94% 50.25%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 91.20% 100.00% 100.00% 100.00% 100.00% 0.00% 105.13% 100.00% 101.34% 0.00% 100.35%
Interest Burden Percent		 97.84% 85.59% 97.76% 90.19% 96.33% 0.00% 84.93% 86.83% 88.14% 0.00% 91.68%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -120.02% 42.73% 19.48% 16.13% -84.79% -30.10% -29.32% -32.21% -37.82% -31.42% -33.80%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 15.58% 42.73% 19.48% 16.13% -34.80% -30.10% -29.32% -32.21% -37.82% -31.42% -33.80%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 34.11% 16.88% 13.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.32 -5.56 -7.99 -14 -13 -13 -16 -15 -15 -19 -17
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 2.49% -1.69% -3.02% -2.99% -8.79% -1.56% -1.84% -1.73% -2.11% -2.26% -2.07%
Return On Investment Capital (ROIC_SIMPLE)		 -1.56% - - - -9.46% -4.25% -5.51% -5.73% -5.99% -8.29% -7.57%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 2.96 -7.95 -13 -20 -22 -18 -22 -22 -22 -27 -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.34 -7.95 -12 -19 -21 -18 -22 -22 -21 -27 -24
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 7.76 0.37 2.97 4.84 1.10 1.31 1.10 1.55 2.52 2.90
Price to Tangible Book Value (P/TBV)		 0.00 7.76 0.37 2.97 4.84 1.10 1.31 1.10 1.55 2.52 2.90
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 22.74 2.19 21.86 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 4.40% 45.59% 4.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 21.64 0.00 17.78 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 21.86 0.00 18.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 21.78 0.00 16.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 23.53 0.00 12.70 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.49 -1.04 -1.08 -1.05 -1.24 -1.02 -1.05 -1.02 -1.01 -1.02 -1.01
Leverage Ratio		 2.01 1.24 1.14 1.10 1.41 1.04 1.09 1.07 1.06 1.06 1.05
Compound Leverage Factor		 1.97 1.06 1.11 0.99 1.35 0.00 0.92 0.93 0.93 0.00 0.96
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -2,011.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 2,111.15% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 6.78 111.35 1.26 14.11 32.93 14.58 19.29 18.45 23.80 20.88 28.69
Noncontrolling Interest Sharing Ratio		 112.98% 0.00% 0.00% 0.00% 58.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.76 26.17 7.21 9.39 12.65 22.92 25.60 29.15 26.63 18.51 22.29
Quick Ratio		 0.70 25.79 7.12 9.19 12.17 22.67 25.30 28.64 26.26 18.28 21.90
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 32 -7.61 7.83 -8.28 -46 -9.52 -31 -23 -12 -18 -17
Operating Cash Flow to CapEx		 -23,314.00% 0.00% 0.00% -12,813.07% -560,700.00% -48,455.56% 0.00% -10,731.93% 0.00% -96,910.53% -36,357.63%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 279.55 -331.16 0.00 -476.18 -1,810.26 -1,611.64 -1,039.02 -2,230.46 -2,890.93
Operating Cash Flow to Interest Expense		 0.00 0.00 -538.79 -784.16 0.00 -654.15 -865.82 -1,272.50 -1,205.08 -2,301.63 -3,575.17
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -538.79 -790.28 0.00 -655.50 -865.82 -1,284.36 -1,205.08 -2,304.00 -3,585.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -33 -1.93 -19 -8.73 -0.46 -5.21 -3.62 -1.49 -3.06 -6.48 -3.22
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -31 2.05 -16 -5.47 32 -3.29 15 7.24 -2.59 -1.27 0.39
Enterprise Value (EV)		 779 598 -124 287 540 24 84 25 136 343 422
Market Capitalization		 727 689 62 446 681 331 371 294 390 580 649
Book Value per Share		 ($1.90) $1.98 $3.71 $10.20 $9.54 $16.13 $15.20 $14.30 $13.43 $12.27 $11.86
Tangible Book Value per Share		 ($1.90) $1.98 $3.71 $10.20 $9.54 $16.13 $15.20 $14.30 $13.43 $12.27 $11.86
Total Capital		 -4.01 89 166 150 141 301 284 268 251 230 224
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -29 -91 -185 -159 -141 -306 -287 -269 -254 -237 -227
Capital Expenditures (CapEx)		 0.05 0.00 0.00 0.15 0.00 0.03 0.00 0.17 0.00 0.02 0.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -39 -2.44 -24 -14 -5.99 -10 -7.89 -5.15 -6.69 -9.96 -6.34
Debt-free Net Working Capital (DFNWC)		 -10 88 161 145 135 296 279 264 248 227 221
Net Working Capital (NWC)		 -10 88 161 145 135 296 279 264 248 227 221
Net Nonoperating Expense (NNE)		 -1.33 1.25 4.68 3.97 7.47 3.10 4.35 3.71 4.16 6.13 5.33
Net Nonoperating Obligations (NNO)		 -29 -91 -185 -159 -141 -306 -287 -269 -254 -237 -227
Total Depreciation and Amortization (D&A)		 0.37 0.00 0.71 0.42 0.51 0.36 0.34 0.34 0.33 0.80 0.71
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $24.96 ($1.80) ($4.34) ($1.20) ($2.45) ($0.93) ($1.07) ($1.02) ($1.05) ($1.34) ($1.18)
Adjusted Weighted Average Basic Shares Outstanding		 105.71K 3.73M 2.92M 14.73M 8.49M 17.16M 18.68M 18.71M 18.32M 18.77M 18.96M
Adjusted Diluted Earnings per Share		 $24.96 ($1.80) ($4.34) ($1.20) ($2.45) ($0.93) ($1.07) ($1.02) ($1.05) ($1.34) ($1.18)
Adjusted Weighted Average Diluted Shares Outstanding		 105.71K 3.73M 2.92M 14.73M 8.49M 17.16M 18.68M 18.71M 18.32M 18.77M 18.96M
Adjusted Basic & Diluted Earnings per Share		 $24.96 $0.00 $0.00 $0.00 ($2.45) $0.00 $0.00 $0.00 ($1.05) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.74M 3.74M 14.73M 14.75M 18.66M 18.67M 18.71M 18.72M 18.78M 18.87M 19.55M
Normalized Net Operating Profit after Tax (NOPAT)		 0.92 -5.56 -7.99 -14 -13 -13 -16 -15 -15 -19 -17
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -462.89 -785.76 0.00 -916.50 -1,316.47 -1,565.79 -1,793.67 -3,426.75 -4,037.17
NOPAT to Interest Expense		 0.00 0.00 -285.53 -549.84 0.00 -640.43 -919.55 -1,094.50 -1,255.10 -2,388.84 -2,825.43
EBIT Less CapEx to Interest Expense		 0.00 0.00 -462.89 -791.88 0.00 -917.85 -1,316.47 -1,577.64 -1,793.67 -3,429.13 -4,047.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -285.53 -555.96 0.00 -641.78 -919.55 -1,106.36 -1,255.10 -2,391.21 -2,835.27
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Tectonic Therapeutic (NASDAQ: TECX) remains a development-stage biotech with no product revenue, so the story is still centered on cash reserves, burn rate, and dilution rather than sales growth. The latest quarter shows the company is well-funded for now, but it is still consuming cash at a meaningful pace to support research and development.

  • Cash and equivalents increased to $236.9 million at the end of Q1 2026, giving the company a large liquidity cushion.
  • The balance sheet remains clean, with only $16.2 million in total liabilities versus $230.4 million in equity.
  • Interest and investment income of $2.2 million helped offset part of the operating loss in Q1 2026.
  • Share count has not exploded in the most recent quarter, with basic weighted average shares at 18.8 million, suggesting dilution was relatively modest in Q1 2026.
  • The company still generated no revenue in every quarter provided, so valuation depends entirely on pipeline progress and future financing or partnership events.
  • Research and development spending remains the largest expense, which is typical for a clinical-stage biotech but also means the company is still in heavy investment mode.
  • Quarterly operating cash burn in Q1 2026 was $18.4 million, which is substantial but manageable relative to the cash balance.
  • The company’s cash balance has been volatile over the last several years, reflecting prior financings and periodic burn from operations.
  • Q1 2026 net loss widened to $25.2 million, compared with $19.2 million in Q4 2025.
  • Operating expenses rose to $27.3 million in Q1 2026 from $21.5 million in Q4 2025, driven by higher R&D and SG&A.
  • Retained earnings are deeply negative at $(248.0) million, underscoring the cumulative losses the company has absorbed over time.
  • The business has repeatedly depended on equity financing in prior periods, so dilution remains a real risk if the company needs additional capital later.

Looking at the longer trend, TECX has improved its liquidity dramatically versus 2023 and 2024, when it held far less cash and was more reliant on financing. That is a positive setup for funding ongoing clinical development. Still, the core operating picture has not changed: no revenue, ongoing losses, and sustained cash burn. For retail investors, this remains a classic speculative biotech profile where the key question is whether the pipeline can create enough value before the current cash balance is consumed.

08/14/26 12:15 PM ETAI Generated. May Contain Errors.

Tectonic Therapeutic Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Tectonic Therapeutic's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Tectonic Therapeutic's net income appears to be on an upward trend, with a most recent value of -$74.15 million in 2025, rising from -$18.65 million in 2017. The previous period was -$57.98 million in 2024. Find out what analysts predict for Tectonic Therapeutic in the coming months.

Tectonic Therapeutic's total operating income in 2025 was -$84.04 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $84.04 million

Over the last 8 years, Tectonic Therapeutic's total revenue changed from $0.00 in 2017 to $0.00 in 2025, a change of 0.0%.

Tectonic Therapeutic's total liabilities were at $9.71 million at the end of 2025, a 20.0% decrease from 2024, and a 165.5% increase since 2017.

In the past 8 years, Tectonic Therapeutic's cash and equivalents has ranged from $5.96 million in 2017 to $259.68 million in 2020, and is currently $253.80 million as of their latest financial filing in 2025.

Over the last 8 years, Tectonic Therapeutic's book value per share changed from -10.35 in 2017 to 13.43 in 2025, a change of -229.8%.


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Financial statements for NASDAQ:TECX last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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