TG Therapeutics, Inc.
TGTX Healthcare Biotechnology
TG Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $616.3 million, up 87.3% from fiscal 2024. In the quarter to June 2026, revenue grew 70.3%, EPS fell 73.7%, free cash flow grew 427.1% and total debt rose 204.2%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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TG Therapeutics, Inc. (TGTX) Altman Z-score
TG Therapeutics, Inc.'s Altman Z-score for fiscal 2025 is 6.29, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 6.29 | 0.82 |
| FY2024 | 5.48 | 1.59 |
| FY2023 | 3.89 | 10.80 |
| FY2022 | −6.92 | (10.46) |
| FY2021 | 3.54 | (27.70) |
| FY2020 | 31.24 | 35.47 |
| FY2019 | −4.24 | 7.80 |
| FY2018 | −12.03 | (13.77) |
| FY2017 | 1.73 | 4.55 |
| FY2016 | −2.82 | (27.29) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.45 | — | 0.54 | |
| Retained earnings / total assets | (1.02) | — | −1.42 | |
| EBIT / total assets | 0.12 | — | 0.38 | |
| Market value of equity / total liabilities | 10.36 | — | 6.22 | |
| Sales / total assets | 0.58 | — | 0.58 | |
| Altman Z-score | Safe zone | 6.29 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.04 | ||
Z and Z″ put TG Therapeutics, Inc. in different zones: safe zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PTGX Protagonist Therapeutics, Inc. compare | 61.6× |
| KRYS Krystal Biotech, Inc. compare | 39.0× |
| KYMR Kymera Therapeutics, Inc. compare | 23.2× |
| AXSM Axsome Therapeutics, Inc. compare | 6.9× |
| TGTX TG Therapeutics, Inc. | 6.3× |
| CAI Caris Life Sciences,�Inc. compare | 3.5× |
| ARWR Arrowhead Pharmaceuticals, Inc. compare | 3.0× |
| CYTK Cytokinetics, Incorporated compare | −2.0× |
| ABVX Abivax SA Sponsored ADR compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets