Saturday 17 October 2026 Export TARS’s income statement to Excel — free account

Tarsus Pharmaceuticals, Inc.

Tarsus Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $451.4 million, up 146.7% from fiscal 2024. In the quarter to June 2026, revenue grew 69.4%, EPS grew 10.4%, free cash flow grew 288.1% and total debt was flat, each against the same quarter a year earlier.

68.07 2.92 −4.11%

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Market cap: $3.5B
P/E: 0.0×
Fwd P/E: −92.6×
Dividend yield: —
F-score: 5/9
Altman Z: 9.54
Beneish M: −1.78
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 19.06

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	4	1	—	10	—	—	4	—	—	5	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 3,500.00

Revenue 606.33

Net Income (46.48)

Free Cash Flow 56.00

Net Debt (376.93)

Current Ratio 3.20

Debt/Equity 0.21

P/E ratio 0.00

Fwd P/E (92.60)

P/S ratio 4.87

P/B ratio 8.52

Past 5Y EPS Growth —

This Y EPS Growth (32.82%)

Next Y EPS Growth 148.49%

Next Y revenue growth 59.76%

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 3.41%

10-year low 10-year high

P/B against its own 10 years 87.97%

10-year low 10-year high

EV/Sales against its own 10 years 8.15%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	227	291	418	450
Receivables	18	48	87	98
Inventory	3	3	4	4
Other	—	—	—	—
	256	357	523	562

	2023	2024	2025	Q'26
Payables	24	9	16	40
ST’ Debt	—	—	—	—
Other	—	—	—	—
	37	81	136	176

Compound Annual Growth %

	10y	5y	3y
Sales	—	—	159.54%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	15.65%	21.20%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	162	174	—	—	—
’25	78	103	119	152	451
’24	28	41	48	66	183
’23	3	—	2	13	17
’22	1	15	—	10	26

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(25)	61	—	—	—
’25	(21)	(29)	18	19	(12)
’24	(38)	(14)	(9)	(22)	(83)
’23	(22)	(24)	(32)	(39)	(117)
’22	(15)	(4)	(19)	(11)	(49)
’21	(12)	21	7	(12)	4
’20	(2)	(3)	(7)	(10)	(21)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(30)	57	—	—	—
’25	(21)	(30)	16	13	(22)
’24	(38)	(15)	(9)	(27)	(90)
’23	(22)	(25)	(37)	(39)	(123)
’22	(15)	(4)	(19)	(11)	(50)
’21	(12)	21	7	(12)	3
’20	(2)	(3)	(7)	(10)	(22)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.16)	(0.43)	—	—	—
’25	(0.64)	(0.48)	(0.30)	(0.20)	(1.59)
’24	(1.01)	(0.88)	(0.61)	(0.60)	(3.07)
’23	(0.88)	(1.17)	(1.28)	(1.31)	(4.62)
’22	(0.98)	(0.24)	(0.84)	(0.49)	(2.52)
’21	0.47	0.29	(0.76)	(0.72)	(0.67)
’20	(0.74)	(1.23)	(3.71)	1.36	(4.32)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	15.33	21.00	10.80	11.33	18.99	38.51	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	63.69	49.37	24.89	25.25	57.14	85.25
People
People	Employees	—	—	—	12	20	46	87	244	323	370
	Revenue/emp, $m	—	—	—	0.00	0.00	1.24	0.30	0.07	0.57	1.22
Income, $m
Income, $m	Revenue	—	—	—	—	—	57	26	17	183	451
	Gross margin, %	—	—	0.00	0.00	0.00	96.36	96.30	90.87	92.99	93.20
	EBT	—	—	(1)	(5)	(27)	(14)	(62)	(136)	(116)	(64)
	EBT margin, %	—	—	0.00	0.00	0.00	(24.15)	(240.53)	(778.89)	(63.16)	(14.26)
	Net income	—	0	(1)	(5)	(27)	(14)	(62)	(136)	(116)	(66)
	Depreciation	—	—	0	0	0	1	(1)	(2)	(3)	(3)
Per share, $
Per share, $	Revenue	—	—	0.00	0.00	0.00	2.77	1.05	0.59	4.87	10.80
	Earnings	—	—	(0.07)	(1.98)	(4.32)	(0.67)	(2.52)	(4.62)	(3.07)	(1.59)
	Cash flow	—	—	(0.06)	(1.55)	(3.41)	0.18	(1.99)	(4.00)	(2.21)	(0.30)
	Capex	—	—	0.00	(0.07)	(0.07)	(0.03)	(0.02)	(0.19)	(0.17)	(0.24)
	Free cash flow	—	—	(0.06)	(1.63)	(3.48)	0.15	(2.01)	(4.19)	(2.38)	(0.53)
	Book value	—	—	0.11	24.29	26.74	8.11	7.84	6.70	5.97	8.22
	Shares, m	—	—	20	2	6	21	25	29	38	42
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
	P/S	—	—	—	—	—	8.11	13.57	21.58	11.38	7.58
	P/B	—	—	—	—	—	2.77	1.84	3.01	9.27	9.96
	EV/Sales	—	—	—	—	—	5.11	6.02	14.38	10.18	6.81
	EV/FCF	—	—	—	—	—	92.10	(3.18)	(3.32)	(19.90)	(98.24)
Cash, $m
Cash, $m	Operating cash flow	—	—	(1)	(4)	(21)	4	(49)	(117)	(83)	(12)
	Capex	—	—	0	0	0	(1)	(1)	(6)	(7)	(10)
	Free cash flow	—	—	(1)	(4)	(22)	3	(50)	(123)	(90)	(22)
Balance, $m
Balance, $m	Working capital	—	—	2	57	165	164	210	219	276	387
	Total debt	—	—	—	0	1	1	19	30	72	72
	Net debt	—	—	(2)	(58)	(168)	(171)	(198)	(198)	(220)	(345)
	Shareholders’ equity	—	—	2	57	166	167	193	197	225	343
Returns, %
Returns, %	ROA	—	—	(110.42)	(15.39)	(23.28)	(7.88)	(30.53)	(55.09)	(35.97)	(14.14)
	ROIC	—	—	0.00	0.00	0.00	0.00	0.00	0.00	(1,506.21)	0.00
	ROE	—	—	35.85	126.92	(33.52)	(8.31)	(34.53)	(69.71)	(54.83)	(23.39)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TNGX Tango Therapeutics, Inc.	$3.8B	— (loss-making)	— (loss-making)	−100.00% (below 0%: shrinking)	n/m	−4.58% (below 0%: shrinking)	0.00%	0.00%	Compare
RLAY Relay Therapeutics, Inc.	$3.8B	— (loss-making)	— (loss-making)	−95.44% (below 0%: shrinking)	n/m	+2.13% (above 0%: growing)	100.00%	(25,949.71%)	Compare
ARQT Arcutis Biotherapeutics, Inc.	$3.7B	131×	196×	+59.33% (above 0%: growing)	n/m	+227.96% (above 0%: growing)	91.58%	12.65%	Compare
TLX Telix Pharmaceuticals Limited	$3.6B	—	—	—	—	−44.78% (below 0%: shrinking)	—	—	Compare
TARS Tarsus Pharmaceuticals, Inc.	$3.5B	— (loss-making)	— (loss-making)	+69.41% (above 0%: growing)	n/m	+288.08% (above 0%: growing)	93.03%	(11.45%)
VKTX Viking Therapeutics, Inc.	$3.5B	— (loss-making)	—	—	n/m	−165.98% (below 0%: shrinking)	0.00%	0.00%	Compare
ACAD ACADIA Pharmaceuticals Inc.	$3.4B	8.5×	55.6×	+16.40% (above 0%: growing)	+12.50% (above 0%: growing)	+50.32% (above 0%: growing)	90.81%	12.29%	Compare
XENE Xenon Pharmaceuticals Inc.	$3.3B	— (loss-making)	— (loss-making)	+100.70% (above 0%: growing)	n/m	−48.57% (below 0%: shrinking)	100.00%	0.00%	Compare
IDYA IDEAYA Biosciences, Inc.	$3.3B	— (loss-making)	— (loss-making)	+125.77% (above 0%: growing)	n/m	−41.09% (below 0%: shrinking)	100.00%	(1,380.73%)	Compare
Median of peers	$3.5B	—	—	+37.87%	—	−22.83%	91.58%	0.00%

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Tarsus Pharmaceuticals, Inc. (TARS) key facts

Concern: Tarsus Pharmaceuticals, Inc. reported a net loss of $66.4 million, or a loss of $1.59 per share, for fiscal 2025.
Strength: Tarsus Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $451.4 million, up 146.7% from fiscal 2024.
Tarsus Pharmaceuticals, Inc. (TARS) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, TARS traded at $68.07, a market capitalization of $3.5 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 4.9× sales.
Return on equity was −23.4% and debt-to-equity 0.21.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 9.54 (safe zone) for fiscal 2025.