TCRXNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
TScan Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 12, 2026
$0.21−0.02 (-9.00%)
Close on Oct 19, 2026
- Market cap
- $27.32M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Operating margin
-1315.4%+1102.4 pts over 5 years
Net margin
-1256.8%+1151.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +266.7% | -8.6% | +56.9% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 87.7% | -71.3% | |
| Return on assets | – | – | -43.3% | |
| Current ratio | – | 2.09 | 8.41 | |
| Debt to equity | – | – | 0.26 | |
| Net debt to EBITDA | – | – | 0.90× | |
| Interest coverage | – | – | -49.0× | |
| Capex to revenue | – | 390.6% | 42.7% | |
| Diluted shares | – | 1M | 130M |
Where the cash went
Fiscal 2021 to 2025, five years combined
TScan Therapeutics generated $422.68M from operations and spent $25.54M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$422.68M
Used
$25.54M
Capital expenditure$25.54M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1256.8%
×Asset turnover0.03×
×Equity multiplier1.65×
=Return on equity, FY2025-71.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1256.8% | 0.03× | 1.65× | -71.3% |
| FY2024 | -4527.7% | 0.01× | 1.64× | -65.1% |
| FY2023 | -423.9% | 0.09× | 1.88× | -71.3% |
| FY2022 | -489.3% | 0.07× | 1.49× | -50.9% |
| FY2021 | -479.5% | 0.09× | 2.01× | -82.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$129.77M
- Cash generatingOperating cash flow above zero-$135.32M
- Return on assets improvedROA up on the prior year-46.8% → -35.0%
- Earnings backed by cashOperating cash flow above net income-$135.32M vs -$129.77M
- Less leverageLong-term debt to assets fell8.6% → 14.2%
- Better liquidityCurrent ratio rose8.14 → 8.41
- No dilutionShare count did not rise112M → 130M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.01 → 0.03