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TG Therapeutics Inc

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TG Therapeutics Inc AI Insights

Informational only. Not investment advice.
As of 2025-12-18

Snapshot

  • Net margin 84% TTM vs industry median 0% driven by $360M deferred tax benefit - non-recurring, masks -70M operating cash burn[Net Margin TTM]
  • EPS growth 120.5% 1Y while revenue 3Y CAGR only 11% - margin expansion from BRIUMVI launch, not sustainable volume growth[EPS Growth 1Y]
  • ROE 112% TTM and ROIC 68% TTM vastly exceed industry (median ROE -39%) - capital efficiency inflection point[ROE TTM]

Watch Triggers

  • Operating Cash Flow TTM: Turns positive for 2 consecutive quartersValidates commercial model sustainability without dilution
  • Accounts Receivable: A/R days exceed 200 or grows faster than revenueSignals collection issues or channel stuffing risk
  • Cash and Equivalents: Falls below $50M without financing announcementForces dilutive equity raise at potentially unfavorable terms

Bull Case

Gross margin 85% TTM with 79% gross profit growth 1Y demonstrates pricing power and commercial traction for BRIUMVI in MS market

Gross Margin TTMGross Profit 1Y Growth

Operating margin 19% TTM vs industry median 0% shows leverage emerging; P/E 10.8x vs industry 20x suggests market discounts sustainability

Operating Margin TTMP/E Ratio

Bear Case

Net debt $171M with FCF -70M TTM and only $74M cash creates 12-month liquidity risk requiring dilution or debt raise

Free Cash Flow TTMCash and EquivalentsNet Debt

A/R at 50% of revenue ($265M) signals aggressive revenue recognition or collection challenges - working capital trap

Accounts ReceivableWorking Capital

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

BearBull
40%

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Forward Thesis

Cash burn will persist 12-18 months until BRIUMVI revenue scales to cover $143M R&D spend

1-3ymed
  • FCF -70M TTM with only $74M cash on hand
  • A/R of $265M suggests revenue recognition ahead of collections
  • R&D at 27% of revenue vs industry median 170%
Operating cash flow -70M TTMCash position $74M vs $254M debtGross profit grew 79% 1Y

Valuation Context

Caveats

Public Strategies Rankings

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Fundamental company data provided by Morningstar, updated daily.

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