Tango Therapeutics, Inc.
TNGX Healthcare Biotechnology
Tango Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $62.4 million, up 48.3% from fiscal 2024. In the quarter to June 2026, revenue fell 100.0%, EPS fell 5.71% and free cash flow fell 4.58%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Tango Therapeutics, Inc. (TNGX) Altman Z-score
Tango Therapeutics, Inc.'s Altman Z-score for fiscal 2025 is 9.88, 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 | 9.88 | 10.88 |
| FY2024 | −1.01 | (3.53) |
| FY2023 | 2.52 | 1.24 |
| FY2022 | 1.27 | (1.67) |
| FY2021 | 2.95 | 2.25 |
| FY2020 | 0.69 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.83 | — | 1.00 | |
| Retained earnings / total assets | (1.51) | — | −2.12 | |
| EBIT / total assets | (0.28) | — | −0.92 | |
| Market value of equity / total liabilities | 19.60 | — | 11.76 | |
| Sales / total assets | 0.16 | — | 0.16 | |
| Altman Z-score | Safe zone | 9.88 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.58 | ||
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 |
|---|---|
| DNTH Dianthus Therapeutics, Inc. compare | 24.3× |
| RLAY Relay Therapeutics, Inc. compare | 11.0× |
| TNGX Tango Therapeutics, Inc. | 9.9× |
| TARS Tarsus Pharmaceuticals, Inc. compare | 9.5× |
| ARQT Arcutis Biotherapeutics, Inc. compare | 7.0× |
| LEGN Legend Biotech Corporation Sponsored ADR compare | 4.5× |
| TLX Telix Pharmaceuticals Limited compare | 2.7× |
| ABCL AbCellera Biologics Inc. compare | 1.7× |
| EWTX Edgewise Therapeutics, Inc. 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