TScan Therapeutics, Inc. (TCRX) intrinsic value & 10-year financials
TScan Therapeutics, Inc. (TCRX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 56.9% a year to $10.3M, with an average return on invested capital of -58.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.23
- Market cap
- $30.0M
- Revenue (FY2025)
- $10.3M
- Revenue growth (7-yr CAGR)
- 56.9%
- ROIC (10-yr avg)
- -58.8%
- Free cash flow (FY2025)
- -$139.7M
TCRX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.3M | -$129.8M | -$1.00 | -$139.7M | -1315.4% | -127.7% |
| FY2024 | $2.8M | -$127.5M | -$1.14 | -$114.6M | -4787.7% | -97.4% |
| FY2023 | $21.0M | -$89.2M | -$1.36 | -$64.5M | -444.0% | -106.0% |
| FY2022 | $13.5M | -$66.2M | -$2.75 | -$70.7M | -492.3% | -202.3% |
| FY2021 | $10.1M | -$48.6M | -$2.08 | -$58.6M | -479.6% | 144.1% |
| FY2020 | $1.1M | -$26.1M | — | -$7.3M | -2417.8% | 36.7% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TScan Therapeutics, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
TScan Therapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -25.4% ROIC.
TScan Therapeutics, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TScan Therapeutics, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-33.22 per share.