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Friday 6 November 2026
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Tempus AI, Inc.
TEM Healthcare Health Information Services
Tempus AI, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 83.4% from fiscal 2024.
- Revenue
- +23.1%
- EPS
- +82.2%
- Free cash flow
- +95.7%
- Total debt
- +8.44%
Quarter to September 2026, against a year earlier
74.70
4.27
+6.06%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 321 | 532 | 693 | 1,272 | 1,509 | +58.3% | 2,127 | 2,624 | 3,160 | +35.4% | |
| Gross margin, % | — | — | — | — | — | — | 40.60 | 53.81 | 54.96 | 62.74 | 64.46 | +22.1 pt | ||||||
| EBT | — | — | — | — | — | — | (289) | (214) | (701) | (291) | (184) | +0.2% | ||||||
| EBT margin, % | — | — | — | — | — | — | (90.17) | (40.15) | (101.14) | (22.89) | (12.16) | +67.3 pt | ||||||
| Net income | — | — | — | — | — | — | (290) | (214) | (706) | (245) | (189) | (5.4%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 5.09 | 8.40 | 5.79 | 7.30 | 8.32 | +12.8% | |||||
| Earnings | — | — | — | — | — | — | (5.30) | (4.20) | (6.23) | (1.41) | (1.05) | (35.7%) | ||||||
| Cash flow | — | — | — | — | — | — | (2.67) | (3.39) | (1.58) | (1.25) | (0.60) | (22.3%) | ||||||
| Capex | — | — | — | — | — | — | (0.29) | (0.55) | (0.18) | (0.16) | (0.23) | (18.7%) | ||||||
| Free cash flow | — | — | — | — | — | — | (2.96) | (3.93) | (1.76) | (1.41) | (0.83) | (21.9%) | ||||||
| Book value | — | — | — | — | — | — | (17.91) | (21.83) | 0.47 | 2.82 | 2.76 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 63 | 63 | 120 | 174 | 179 | +40.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | 4.54 | 4.54 | 5.84 | 8.09 | 8.47 | 5.8 | ||||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 71.82 | 20.94 | 25.54 | 23.2 | ||||||
| EV/Sales | — | — | — | — | — | — | 5.17 | 5.17 | 5.82 | 8.47 | 8.94 | 6.2 | ||||||
| EV/FCF | — | — | — | — | — | — | (10.23) | (10.23) | (19.10) | (43.92) | (89.57) | (20.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (168) | (214) | (189) | (218) | (108) | +9.0% | |||||
| Capex | — | — | — | — | — | — | (18) | (35) | (22) | (27) | (42) | +14.1% | ||||||
| Free cash flow | — | — | — | — | — | — | (187) | (249) | (211) | (245) | (151) | +9.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 264 | 118 | 377 | 795 | 700 | +44.3% | |||||
| Net debt | — | — | — | — | — | — | 87 | 252 | (13) | 485 | 713 | +77.5% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | (1,129) | (1,382) | 56 | 491 | 500 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (44.50) | (100.17) | (15.31) | (8.00) | (15.3) pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | 0.00 | (992.66) | (16.20) | (14.36) | (16.2) pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 21.18 | 112.58 | (89.48) | (37.55) | (89.5) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 2,300 | 2,400 | 3,800 | — | +28.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.23 | 0.29 | 0.33 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Tempus AI, Inc. vs peers in Health Information Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| VEEV Veeva Systems Inc. | $50.2B | 49.8× | 47.9× | +17.60% (above 0%: growing) | +36.59% (above 0%: growing) | −0.62% (below 0%: shrinking) | 75.00% | 29.64% | Compare |
| BTSG BrightSpring Health Services, Inc. | $13.1B | 33.0× | 41.2× | +26.37% (above 0%: growing) | +77.78% (above 0%: growing) | +97.70% (above 0%: growing) | 12.31% | 3.81% | Compare |
| TEM Tempus AI, Inc. | $12.9B | — (loss-making) | — (loss-making) | +23.14% (above 0%: growing) | n/m | +95.67% (above 0%: growing) | 64.81% | (13.82%) | |
| HNGE Hinge Health Inc. | $9.4B | 86.1× | 56.0× | +53.00% (above 0%: growing) | n/m | +441.14% (above 0%: growing) | 86.44% | 19.00% | Compare |
| HQY HealthEquity, Inc. | $8.6B | 36.9× | 34.8× | +7.64% (above 0%: growing) | +14.49% (above 0%: growing) | −3.44% (below 0%: shrinking) | 73.55% | 28.14% | Compare |
| DOCS Doximity, Inc. | $5.9B | 44.4× | 49.7× | +3.57% (above 0%: growing) | −42.42% (below 0%: shrinking) | +1.87% (above 0%: growing) | 85.48% | 25.16% | Compare |
| WAY Waystar Holding Corp. | $5.6B | 40.9× | 31.9× | +21.21% (above 0%: growing) | −10.22% (below 0%: shrinking) | +23.36% (above 0%: growing) | 69.53% | 18.81% | Compare |
| HTFL Heartflow, Inc. | $4.5B | — (loss-making) | — (loss-making) | +47.57% (above 0%: growing) | n/m | +62.62% (above 0%: growing) | 83.00% | (27.93%) | Compare |
| PRVA Privia Health Group, Inc. | $3.1B | 88.3× | 83.4× | +13.19% (above 0%: growing) | +83.33% (above 0%: growing) | −44.35% (below 0%: shrinking) | 0.00% | 3.13% | Compare |
| Median of peers | $7.2B | 44.4× | 47.9× | +19.41% | +25.54% | +12.62% | 74.28% | 18.91% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
59.01%
Held by the ten largest
34.67%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 10.75m | 5.96% | +346.72k |
| ARK Investment Management LLC | 10.02m | 5.55% | +414.89k |
| BlackRock | 8.29m | 4.60% | −677.28k |
| Baillie Gifford | 8.19m | 4.54% | −459.22k |
| SOFTBANK GROUP CORP. | 5.41m | 3.00% | 0.00 |
| JPMorgan Chase | 4.99m | 2.77% | +55.87k |
| Sumitomo Mitsui Trust | 4.09m | 2.27% | −237.28k |
| Goldman Sachs | 3.76m | 2.08% | +2.48m |
| Morgan Stanley | 3.65m | 2.02% | +1.57m |
| UBS | 3.41m | 1.89% | −591.32k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 7 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 41.50m | 67.93m | 147.00 |
| 2024 | 28.56m | 28.63m | 84.00 |
Ownership
Directors and executive officers, together
58.30% of the votes
Eric Lefkofsky
57.90% of the votes
BK TL21 LLC
3.90% of the votes
Entities affiliated with Baillie Gifford & Co.
3.00% of the votes
ARK Investment Management LLC
2.90% of the votes
The Vanguard Group
2.90% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Tempus AI, Inc. (TEM) Latest News
3 Nov
2 Nov
27 Oct
26 Oct
23 Oct
19 Oct
TEM metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Beneish M-score
Tempus AI is a healthcare technology company that provides diagnostic tests and uses patient data and artificial intelligence to support clinical and research decisions. It is headquartered in Chicago, Illinois, and its founder, Eric Lefkofsky, is chief executive officer and chairman.
Its Diagnostics business performs tests for healthcare providers, life sciences companies and researchers. These include tests that examine genes and other biological characteristics to help inform treatment, as well as hereditary tests that assess inherited disease risk. Cancer is its primary diagnostic focus, although its work also covers other disease areas.