What is Tenax Therapeutics, Inc.'s earnings per share (EPS)?

Tenax Therapeutics, Inc. (TENX) reported diluted earnings per share of -$1.34 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tenax Therapeutics, Inc. (TENX) Financials

TENX

FY2025 annual

Revenue $0 YoY not available

Net Income -$52.6M -198.9% YoY

EPS (Diluted) -$1.34 YoY not available

Operating Cash Flow -$35.8M -141.7% YoY

Market Cap $50.9M as of Oct 16, 2026

Price / Sales n/m revenue is not positive, FY2025

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 0.4x on $113.6M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TENX SEC filings page.

Tenax Therapeutics, Inc. (TENX) reported $0 in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TENX FY2025 2026-10-03

Tenax remains a development-stage business: escalating R&D spending produces losses while financing inflows, not operations, fund the balance sheet.

Across the latest two annual periods, R&D spending rose from $12.7M to $32.7M, while operating cash flow moved from -$14.8M to -$35.8M. That pairing indicates the larger loss reflects intensified development investment, while the business still lacks operating cash support.

The latest balance sheet held $104.2M of assets against $7.2M of liabilities, so the reported liability load is modest relative to its asset base. Yet financing cash flow of $38.5M alongside operating cash flow of -$35.8M shows that balance-sheet expansion has been funded externally rather than internally.

The reported liquidity comparison equals 32.7 months of the latest annual operating outflow, a balance-sheet measure rather than a forecast. That liquidity sits alongside a net loss of $52.6M, showing that substantial resources were consumed during the latest period even as financial capacity remained available.

Financial Health Signals

Financial health score not available

Tenax Therapeutics, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Distress

-1.34

Tenax Therapeutics, Inc. scores -1.34, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($50.9M) relative to total liabilities ($7.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

1/7

Tenax Therapeutics, Inc. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Tenax Therapeutics, Inc. reported a net loss of $52.6M while operations used $35.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Net Income

-$17.8M

YoY-64.1%

QoQ-13.3%

Tenax Therapeutics, Inc. reported -$17.8M in net income in Q2 2026. This represents a decrease of 64.1% from the same quarter a year earlier. Against the prior quarter it is down 13.3%.

EPS (Diluted)

-$0.35

QoQ0.0%

Tenax Therapeutics, Inc. earned -$0.35 per diluted share (EPS) in Q2 2026. It is unchanged from the prior quarter.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$118.0M

YoY+11.8%

QoQ-0.7%

5Y CAGR+134.3%

10Y CAGR+50.9%

Tenax Therapeutics, Inc. held $118.0M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

37M

QoQ+41.1%

5Y CAGR+8.2%

10Y CAGR+2.9%

Tenax Therapeutics, Inc. had 37M shares outstanding in Q2 2026. Against the prior quarter it is up 41.1%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-15.7%

YoY-5.2pp

QoQ-2.0pp

Tenax Therapeutics, Inc.'s ROE was -15.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 5.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$12.8M

YoY+109.9%

QoQ+11.4%

Tenax Therapeutics, Inc. invested $12.8M in research and development in Q2 2026. This represents an increase of 109.9% from the same quarter a year earlier. Against the prior quarter it is up 11.4%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

TENX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TENX quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	N/A	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	$49K-69.0%	$159K-86.7%	$1.2M+227.4%	$364K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	$0-100.0%	$130K+201.1%	$43K-15.9%	$51K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A	$0-100.0%	$29K-41.2%	$50K+0.6%	$49K
R&D Expenses	N/A	$32.7M+157.1%	$12.7M+293.6%	$3.2M-40.0%	$5.4M-78.6%	$25.1M+451.4%	$4.6M+31.4%	$3.5M+180.1%	$1.2M-64.9%	$3.5M-73.2%	$13.1M	N/A	$6.7M+122.3%	$3.0M+22.0%	$2.5M-0.3%	$2.5M
SG&A Expenses	N/A	$23.7M+249.5%	$6.8M+35.6%	$5.0M-11.8%	$5.7M-25.1%	$7.6M+42.8%	$5.3M+4.4%	$5.1M-10.1%	$5.7M-0.4%	$5.7M-9.1%	$6.2M	N/A	$7.2M-47.9%	$13.8M+274.7%	$3.7M-39.7%	$6.1M
Operating Income	N/A	-$56.4M-189.2%	-$19.5M-136.8%	-$8.2M-174.5%	$11.1M	N/A	$9.9M+215.3%	-$8.6M-24.1%	-$6.9M+25.1%	-$9.2M+82.5%	-$52.7M	N/A	-$14.8M+10.8%	-$16.6M-220.1%	-$5.2M+36.9%	-$8.2M
EBITDA	N/A	N/A	-$19.5M-137.0%	-$8.2M-174.4%	$11.1M	N/A	$9.9M+215.5%	-$8.6M-24.2%	-$6.9M+25.1%	-$9.2M+82.5%	-$52.6M	N/A	-$14.7M+10.9%	-$16.5M-226.6%	-$5.0M+37.1%	-$8.0M
Interest Expense	N/A	$0-100.0%	$23K-4.2%	$24K+440.2%	$4K+368.2%	$949-41.7%	$2K	$0	N/A	N/A	$0	N/A	$49K-97.8%	$2.2M-47.8%	$4.2M-42.8%	$7.4M
Income Tax	N/A	$0	$0	$0	$0	$0	$0	$0	$0	$0+100.0%	-$8.0M	$0	$0	$0	N/A	N/A
Net Income	N/A	-$52.6M-198.9%	-$17.6M-128.6%	-$7.7M-169.7%	$11.0M	N/A	-$9.9M-17.4%	-$8.4M+40.7%	-$14.1M-60.0%	-$8.8M+79.9%	-$43.9M	N/A	-$14.1M+27.9%	-$19.5M-107.5%	-$9.4M+40.1%	-$15.7M
EPS (Basic)	N/A	-$1.34-16.5%	-$1.15+96.3%	-$31.04	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$0.50+81.5%	-$2.71+56.9%	-$6.29+48.1%	-$12.12
EPS (Diluted)	—	-$1.34	-$1.15	-$31.04	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$0.50	-$2.71	-$6.68+52.5%	-$14.07
Diluted Shares (Avg)	N/A	39M	15M	248,447	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	28M	9M	2M+26.8%	1M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	N/A	$0	N/A	N/A	N/A	$0	N/A	N/A
R&D Expenses	$12.8M+109.9%	$11.5M+103.0%	N/A	$10.3M+231.9%	$6.1M+163.0%	$5.7M+112.4%	N/A	$3.1M+192.0%
SG&A Expenses	$5.9M+4.6%	$5.0M-11.0%	N/A	$6.5M+329.9%	$5.7M+321.9%	$5.7M+358.6%	N/A	$1.5M+43.3%
Operating Income	-$18.8M-59.3%	-$16.6M-46.2%	N/A	-$16.8M-263.8%	-$11.8M-221.2%	-$11.3M-190.0%	N/A	-$4.6M-318.1%
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$4.6M-318.0%
Interest Expense	N/A	N/A	N/A	N/A	N/A	$0-100.0%	N/A	$7K+31.2%
Net Income	-$17.8M-64.1%	-$15.7M-51.0%	N/A	-$15.8M-299.0%	-$10.8M-203.4%	-$10.4M-174.0%	N/A	-$4.0M-300.9%
EPS (Basic)	-$0.35-29.6%	-$0.35-25.0%	-$0.38-272.7%	-$0.40-110.5%	-$0.27+85.2%	-$0.28+91.0%	$0.22	-$0.19
EPS (Diluted)	-$0.35	-$0.35	-$0.38	-$0.40	-$0.27	-$0.28	$0.22	-$0.19
Diluted Shares (Avg)	51M	45M	N/A	40M	40M	37M	N/A	21M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Income Tax.

TENX Balance Sheet

TENX quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$104.2M+7.8%	$96.7M+727.4%	$11.7M+243.2%	$3.4M-43.2%	$6.0M-12.8%	$6.9M+7.9%	$6.4M-52.3%	$13.3M+34.8%	$9.9M-57.6%	$23.3M-68.0%	$73.0M	$82.9M-11.3%	$93.4M+2837.4%	$3.2M-23.2%	$4.1M
Current Assets	$104.2M+7.8%	$96.7M+727.5%	$11.7M+264.2%	$3.2M-43.6%	$5.7M-16.3%	$6.8M+9.9%	$6.2M-53.6%	$13.3M+65.2%	$8.1M-40.8%	$13.6M-33.7%	$20.6M	$17.5M-70.3%	$59.0M+3100.8%	$1.8M-30.0%	$2.6M
Cash & Equivalents	$97.6M+2.8%	$94.9M+868.4%	$9.8M+361.5%	$2.1M-62.0%	$5.6M-10.7%	$6.3M+27.4%	$4.9M-60.3%	$12.4M+670.6%	$1.6M-83.9%	$10.0M+173.1%	$3.7M	$10.8M-81.6%	$58.3M+7343.3%	$784K-58.3%	$1.9M
Short-Term Investments	$0	$0	$0	$0	$0-100.0%	$463K-6.3%	$494K-0.2%	$495K-91.9%	$6.1M+86.4%	$3.3M-80.1%	$16.5M	$9.2M	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$99K+19.0%	$83K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$50K-30.9%	$73K+46.8%	$49K	$76K+110.3%	$36K-91.8%	$445K+3226.4%	$13K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$1.8M-78.9%	$8.6M-52.3%	$18.0M	$31.0M	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$11.3M	$11.3M0.0%	$11.3M	$0	N/A
Total Liabilities	$7.2M+52.5%	$4.7M+30.8%	$3.6M+87.6%	$1.9M+9.4%	$1.7M-22.1%	$2.2M-13.5%	$2.6M+65.6%	$1.6M+55.2%	$1.0M-83.7%	$6.2M-50.7%	$12.6M	$12.5M+18.4%	$10.5M+112.6%	$5.0M+10.5%	$4.5M
Current Liabilities	$7.2M+52.5%	$4.7M+30.8%	$3.6M+94.1%	$1.8M+18.1%	$1.6M-26.2%	$2.1M-16.3%	$2.5M+61.7%	$1.6M+55.2%	$1.0M-83.7%	$6.2M+34.7%	$4.6M	$4.5M+75.7%	$2.6M+34.6%	$1.9M-38.9%	$3.1M
Non-Current Liabilities	$0	$0	$0-100.0%	$64K-65.0%	$184K+47.9%	$124K+105.6%	$60K	$0	$0	$0-100.0%	$8.0M	$8.0M-0.1%	$8.0M+161.5%	$3.0M+124.0%	$1.4M
Total Equity	$97.1M+5.5%	$92.0M+1036.0%	$8.1M+442.4%	$1.5M-64.8%	$4.2M-8.2%	$4.6M+22.6%	$3.8M-68.0%	$11.8M+32.5%	$8.9M-48.2%	$17.1M-71.6%	$60.4M	$70.4M-15.0%	$82.9M+4759.9%	-$1.8M-413.8%	-$346K
Retained Earnings	-$367.5M-16.7%	-$314.9M-5.9%	-$297.3M-2.7%	-$289.5M-4.0%	-$278.5M-13.2%	-$246.0M-4.2%	-$236.2M-3.7%	-$227.8M-6.7%	-$213.5M-4.3%	-$204.7M-27.3%	-$160.7M	-$150.7M-10.3%	-$136.6M-16.7%	-$117.0M-8.7%	-$107.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$121.7M+14.9%	$123.2M+9.9%	$104.2M+7.8%	$102.8M+3.0%	$105.9M+897.1%	$112.1M+674.9%	$96.7M+727.4%	$99.8M+739.3%
Current Assets	$121.7M+14.9%	$123.2M+9.9%	$104.2M+7.8%	$102.8M+3.0%	$105.9M+897.2%	$112.1M+675.0%	$96.7M+727.5%	$99.8M+739.7%
Cash & Equivalents	$118.0M+11.8%	$118.8M+6.6%	$97.6M+2.8%	$99.4M+1.1%	$105.5M+1024.3%	$111.4M+787.7%	$94.9M+868.4%	$98.3M+782.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.1M+219.5%	$8.5M+206.6%	$7.2M+52.5%	$6.6M+157.6%	$2.5M+45.2%	$2.8M+36.3%	$4.7M+30.8%	$2.6M+325.4%
Current Liabilities	$8.1M+219.5%	$8.5M+206.6%	$7.2M+52.5%	$6.6M+157.6%	$2.5M+45.2%	$2.8M+36.3%	$4.7M+30.8%	$2.6M+325.4%
Non-Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0
Total Equity	$113.6M+9.9%	$114.7M+4.9%	$97.1M+5.5%	$96.2M-1.0%	$103.3M+1064.2%	$109.3M+779.3%	$92.0M+1036.0%	$97.2M+761.4%
Retained Earnings	-$401.0M-19.3%	-$383.2M-17.8%	-$367.5M-16.7%	-$351.9M-14.0%	-$336.1M-10.3%	-$325.3M-8.0%	-$314.9M-5.9%	-$308.6M-5.0%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

TENX Cash Flow Statement

TENX quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	-$46.0M	-$35.8M-141.7%	-$14.8M-150.9%	-$5.9M+48.2%	-$11.4M-4.9%	-$10.9M-17.1%	-$9.3M-22.7%	-$7.6M-37.4%	-$5.5M+54.7%	-$12.1M+23.5%	-$15.9M	N/A	-$9.7M-5.3%	-$9.3M-88.2%	-$4.9M+40.6%	-$8.3M
Depreciation & Amortization	N/A	N/A	$0-100.0%	$8K+55.6%	$5K+25.0%	$4K+1.0%	$4K-18.7%	$5K-44.4%	$9K-33.8%	$14K-28.1%	$19K	N/A	$148K-1.6%	$150K+1.1%	$149K-28.0%	$207K
Stock-Based Compensation	N/A	$19.2M+1603.4%	$1.1M+489.0%	$191K	N/A	N/A	N/A	$0-100.0%	$190K+138.8%	$80K+7394.3%	$1K	N/A	$117K-82.0%	$651K+251.6%	$185K+45.3%	$128K
Capital Expenditures	N/A	N/A	N/A	N/A	$2K-55.8%	$5K+50.5%	$3K-2.4%	$4K-52.9%	$8K+67.4%	$5K+57.3%	$3K	N/A	$4K-56.8%	$10K-43.0%	$17K-2.6%	$18K
Free Cash Flow	N/A	N/A	N/A	N/A	-$11.4M-4.9%	-$10.9M-17.1%	-$9.3M-22.7%	-$7.6M-37.3%	-$5.5M+54.7%	-$12.1M+23.5%	-$15.9M	N/A	-$9.8M-5.2%	-$9.3M-87.7%	-$4.9M+40.5%	-$8.3M
Investing Cash Flow	N/A	N/A	$0-100.0%	$3K+229.1%	-$2K-100.5%	$453K+2150.8%	$20K+1318.0%	-$2K-100.0%	$7.4M+96.2%	$3.7M-83.1%	$22.2M	N/A	-$40.9M-27733.5%	-$147K+0.6%	-$148K+43.3%	-$261K
Financing Cash Flow	$58.5M	$38.5M-61.4%	$99.9M+636.0%	$13.6M+71.1%	$7.9M-18.6%	$9.7M-8.1%	$10.6M+10881.3%	$97K-98.9%	$8.9M	$0	$0	N/A	$281K-99.6%	$66.9M+1585.0%	$4.0M-58.0%	$9.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$14.2M-125.9%	-$9.3M-33.6%	-$13.4M-280.4%	-$9.2M-196.6%	-$6.3M-106.6%	-$7.0M-34.9%	-$3.5M-200.2%	-$3.1M-48.3%
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$0-100.0%
Stock-Based Compensation	$2.8M-37.8%	$2.8M-31.5%	N/A	$5.5M+61011.1%	$4.5M+44900.0%	$4.1M+3380.7%	N/A	$9K
Investing Cash Flow	N/A	N/A	N/A	$0	$0	$0	$0-100.0%	$0
Financing Cash Flow	$13.4M+4709.7%	$30.5M+29.4%	$11.6M+17229.9%	$3.1M-96.7%	$278K+307.5%	$23.6M+197.4%	$67K+138.4%	$92.0M+53820.5%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

TENX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TENX quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.0%-18.3pp	18.3%+14.2pp	4.2%-9.4pp	13.5%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-30062.8%	-10452.1%	-435.7%	-2259.7%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-28571.6%	-12296.2%	-790.6%	-4319.2%
Return on Equity	-54.2%-35.1pp	-19.1%+76.0pp	-95.1%-835.1pp	740.0%	N/A	-213.0%+9.5pp	-222.5%-102.4pp	-120.2%-20.6pp	-99.5%+156.7pp	-256.3%	N/A	-20.0%+3.6pp	-23.6%	N/A	N/A
Return on Assets	-50.5%-32.3pp	-18.2%+47.7pp	-65.9%-390.4pp	324.5%	N/A	-143.4%-11.5pp	-131.9%-25.8pp	-106.0%-16.7pp	-89.4%+98.8pp	-188.2%	N/A	-17.0%+3.9pp	-20.9%+275.1pp	-296.0%+83.3pp	-379.3%
Current Ratio	14.56-6.0x	20.60+17.3x	3.26+1.5x	1.74-1.9x	3.64+0.4x	3.21+0.8x	2.44-6.1x	8.51+0.5x	7.99+5.8x	2.20-2.3x	4.47	3.88-19.1x	22.93+22.0x	0.96+0.1x	0.84
Debt-to-Equity	0.070.0x	0.05-0.4x	0.44-0.8x	1.28+0.9x	0.41-0.1x	0.48-0.2x	0.69+0.6x	0.130.0x	0.11-0.2x	0.36+0.2x	0.21	0.180.0x	0.13	N/A	N/A
Asset Turnover	0.000.0x	0.00	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.00	N/A	0.000.0x	0.00-0.4x	0.37+0.3x	0.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-19788.6%	-5833.8%	-414.7%	-2280.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-15.7%-5.2pp	-13.7%-4.2pp	N/A	-16.4%-12.4pp	-10.5%+29.8pp	-9.5%+21.1pp	N/A	-4.1%-21.5pp
Return on Assets	-14.6%-4.4pp	-12.8%-3.5pp	N/A	-15.4%-11.4pp	-10.3%+23.4pp	-9.3%+17.0pp	N/A	-4.0%-20.6pp
Current Ratio	15.07-26.8x	14.52-26.0x	14.56-6.0x	15.58-23.4x	41.89+35.8x	40.48+33.4x	20.60+17.3x	38.95+19.2x
Debt-to-Equity	0.070.0x	0.070.0x	0.070.0x	0.070.0x	0.02-0.2x	0.03-0.1x	0.05-0.4x	0.030.0x
Asset Turnover	N/A	0.000.0x	N/A	N/A	N/A	0.00	N/A	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Tenax Therapeutics, Inc. TENX	FY2025	$0	-$52.6M	N/A	$50.9M	—
Kezar Life Sciences, Inc. KZR	FY2025	$0	-$56.0M	N/A	$53.9M	—
NeuroSense Therapeutics Ltd. NRSN	FY2025	N/A	N/A	N/A	$6.0M	—
Dare Bioscience, Inc. DARE	FY2025	$1.0M	-$13.4M	N/A	$14.6M	61/100
Allarity Therapeutics, Inc. ALLR	FY2025	$320K	-$11.2M	N/A	$13.2M	—
AN2 Therapeutics, Inc. ANTX	FY2025	N/A	-$35.2M	N/A	$135.9M	—

Where Tenax Therapeutics, Inc. Ranks

Frequently Asked Questions

What is Tenax Therapeutics, Inc.'s annual revenue?

Tenax Therapeutics, Inc. (TENX) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Tenax Therapeutics, Inc. profitable?

No, Tenax Therapeutics, Inc. (TENX) reported a net income of -$52.6M in fiscal year 2025.

What is Tenax Therapeutics, Inc.'s return on equity (ROE)?

Tenax Therapeutics, Inc. (TENX) has a return on equity of -54.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tenax Therapeutics, Inc.'s operating cash flow?

Tenax Therapeutics, Inc. (TENX) recorded an outflow of $35.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Tenax Therapeutics, Inc.'s total assets?

Tenax Therapeutics, Inc. (TENX) had $104.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Tenax Therapeutics, Inc. spend on research and development?

Tenax Therapeutics, Inc. (TENX) invested $32.7M in research and development during fiscal year 2025.

How many shares does Tenax Therapeutics, Inc. have outstanding?

Tenax Therapeutics, Inc. (TENX) had 17M shares outstanding as of fiscal year 2025.

What is Tenax Therapeutics, Inc.'s current ratio?

Tenax Therapeutics, Inc. (TENX) had a current ratio of 14.56 as of fiscal year 2025, which is generally considered healthy.

What is Tenax Therapeutics, Inc.'s debt-to-equity ratio?

Tenax Therapeutics, Inc. (TENX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tenax Therapeutics, Inc.'s return on assets (ROA)?

Tenax Therapeutics, Inc. (TENX) had a return on assets of -50.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tenax Therapeutics, Inc.'s P/E ratio?

Tenax Therapeutics, Inc. (TENX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $50.9M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tenax Therapeutics, Inc.'s price-to-sales ratio?

Tenax Therapeutics, Inc. (TENX) has no price-to-sales ratio at the moment: revenue is not positive (FY2025). The market capitalization is $50.9M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Tenax Therapeutics, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Tenax Therapeutics, Inc. (TENX) held $97.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $35.8M over that year. Dividing the one by the other, the reported balance equals about 33 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Tenax Therapeutics, Inc.'s Altman Z-Score?

Tenax Therapeutics, Inc. (TENX) has an Altman Z-Score of -1.34, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Tenax Therapeutics, Inc.'s Piotroski F-Score?

Tenax Therapeutics, Inc. (TENX) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tenax Therapeutics, Inc.'s earnings high quality?

Tenax Therapeutics, Inc. (TENX) reported a net loss of $52.6M while operations used $35.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.