What is Tvardi Therapeutics Inc's earnings per share (EPS)?

Tvardi Therapeutics Inc (TVRD) reported diluted earnings per share of $-3.26 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.

Tvardi Therapeutics Inc Financials

TVRD

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Tvardi Therapeutics Inc (TVRD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 TVRD FY2025 2026-05-08

Tvardi’s statements show an R&D-heavy business still funded by external capital rather than internally generated cash.

FY2025 balance-sheet repair did not come from operations: equity moved from -$91.1M in FY2024 to $20.9M in FY2025 and liabilities fell from $126.3M to $11.1M, while operating cash burn widened to -$23.5M from -$18.3M. With $22.7M of financing inflow in FY2025, the cleaner balance sheet reflects recapitalization more than a business that has started to fund itself.

The cost base remains research-led: FY2025 R&D was $18.0M versus SG&A of $8.7M, and FY2024 showed the same pattern at $23.7M versus $4.5M. That means the losses are still driven mainly by development spending, not by a large commercial infrastructure.

This is a capital-light but cash-hungry model. FY2024 capital spending was only $1.0M against operating cash use of -$18.3M, and FY2025 ended with $20.7M of cash against $11.0M of current liabilities, so near-term obligations look manageable even though cash covered only 0.9x of FY2025 operating cash use.

Financial Health Signals

Financial health score pending refresh

We are recalculating Tvardi Therapeutics Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

Tvardi Therapeutics Inc passes 1 of 6 computable financial strength tests (3 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).

Earnings Quality Low Quality

1.29x

For every $1 of reported earnings, Tvardi Therapeutics Inc generates $1.29 in operating cash flow (-$23.5M OCF vs -$18.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$26.7M

YoY+4.9%

Tvardi Therapeutics Inc's EBITDA was -$26.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.9% from the prior year.

Net Income

-$18.2M

YoY+38.1%

Tvardi Therapeutics Inc reported -$18.2M in net income in fiscal year 2025. This represents an increase of 38.1% from the prior year.

EPS (Diluted)

$-3.26

Tvardi Therapeutics Inc earned $-3.26 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$20.7M

YoY-34.4%

5Y CAGR-8.1%

10Y CAGR+3.2%

Tvardi Therapeutics Inc held $20.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.00

Tvardi Therapeutics Inc paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

Tvardi Therapeutics Inc had 9M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-86.9%

5Y CAGR-90.3pp

10Y CAGR-63.4pp

Tvardi Therapeutics Inc's ROE was -86.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$18.0M

YoY-23.8%

5Y CAGR-30.1%

10Y CAGR-1.6%

Tvardi Therapeutics Inc invested $18.0M in research and development in fiscal year 2025. This represents a decrease of 23.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

TVRD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$7.1M-66.0%	$21.0M-49.9%	$41.9M+81.8%	$23.0M-83.0%	$135.1M
Cost of Revenue	N/A	N/A	N/A	N/A	$0	N/A
Gross Profit	N/A	N/A	N/A	N/A	$23.0M	N/A
R&D Expenses	$18.0M-23.8%	$23.6M-78.2%	$108.5M+18.1%	$91.9M+11.1%	$82.7M-23.3%	$107.9M
SG&A Expenses	$8.7M+96.0%	$4.5M-84.0%	$27.8M-8.2%	$30.3M+2.9%	$29.4M+34.6%	$21.8M
Operating Income	-$26.7M+4.8%	-$28.1M+76.9%	-$121.5M-38.8%	-$87.5M+1.7%	-$89.1M-1754.3%	$5.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	$0+100.0%	-$691K
Net Income	-$18.2M+38.1%	-$29.4M-148.1%	-$11.8M+86.1%	-$85.5M+3.4%	-$88.4M-1151.6%	$8.4M
EPS (Diluted)	$-3.26	$-11.42+56.5%	$-26.26	$-19.12-998.9%	$-1.74-1066.7%	$0.18

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	$2.6M+76.6%	$1.5M-43.1%	$2.6M+157.9%	$991K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$4.9M	N/A	$3.6M-37.9%	$5.8M+86.6%	$3.1M+132.3%	-$9.6M-301.0%	$4.8M-26.6%	$6.5M
SG&A Expenses	$2.1M	N/A	$2.3M-23.8%	$3.1M+146.4%	$1.2M+132.0%	-$3.9M-541.5%	$881K+35.5%	$650K
Operating Income	-$7.1M	N/A	-$5.9M+33.0%	-$8.9M-103.7%	-$4.4M-130.2%	$14.4M+354.0%	-$5.7M+21.0%	-$7.2M
Interest Expense	N/A	N/A	N/A	N/A	$558K	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	$0	$0	$0	$0
Net Income	-$6.8M	N/A	-$5.5M-232.6%	$4.2M+143.5%	-$9.6M+24.6%	-$12.7M-130.5%	-$5.5M+21.0%	-$7.0M
EPS (Diluted)	$-0.73	N/A	$-0.59+41.0%	$-1.00+73.1%	$-3.72	N/A	$-2.14+21.0%	$-2.71

TVRD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$32.1M-8.9%	$35.2M-72.0%	$125.8M-30.9%	$182.2M-26.2%	$247.1M-8.9%	$271.2M
Current Assets	$31.5M-0.5%	$31.7M-72.7%	$116.2M-31.2%	$168.9M-2.5%	$173.3M-11.2%	$195.1M
Cash & Equivalents	$20.7M-34.4%	$31.6M-38.9%	$51.8M-18.8%	$63.7M+373.8%	$13.5M-57.5%	$31.7M
Inventory	N/A	$900K-68.1%	$2.8M+18.4%	$2.4M-7.8%	$2.6M	N/A
Accounts Receivable	N/A	$407K-85.3%	$2.8M-15.2%	$3.3M	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$11.1M-91.2%	$126.3M-32.8%	$187.9M+701.0%	$23.5M+20.1%	$19.5M-11.8%	$22.2M
Current Liabilities	$11.0M+6.5%	$10.4M-59.5%	$25.6M+9.1%	$23.5M+33.2%	$17.6M-4.7%	$18.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$20.9M+123.0%	-$91.1M-46.8%	-$62.1M-139.1%	$158.8M-30.2%	$227.5M-8.6%	$249.0M
Retained Earnings	-$110.5M-19.7%	-$92.2M+86.5%	-$684.7M-20.9%	-$566.2M-17.8%	-$480.8M-22.5%	-$392.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$25.8M-19.5%	$32.1M-17.8%	$39.0M-10.8%	$43.8M+12.3%	$38.9M+10.6%	$35.2M-31.4%	$51.3M-29.2%	$72.5M
Current Assets	$25.3M-19.7%	$31.5M-18.0%	$38.4M-10.9%	$43.1M	N/A	$31.7M-33.9%	$47.9M-25.0%	$63.9M
Cash & Equivalents	$19.9M-4.3%	$20.7M-3.2%	$21.4M+3.7%	$20.6M-39.7%	$34.2M+8.2%	$31.6M-14.7%	$37.1M-24.7%	$49.2M
Inventory	N/A	N/A	N/A	N/A	$900K0.0%	$900K+44.0%	$625K-62.0%	$1.6M
Accounts Receivable	N/A	N/A	N/A	N/A	$1.2M+202.0%	$407K-6.4%	$435K+21.2%	$359K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$11.3M+1.7%	$11.1M-0.3%	$11.2M+3.1%	$10.8M-92.2%	$139.6M+10.5%	$126.3M-2.7%	$129.8M-10.8%	$145.6M
Current Liabilities	$11.3M+2.0%	$11.0M0.0%	$11.0M+3.4%	$10.7M+790.6%	$1.2M-88.4%	$10.4M+3.3%	$10.0M-27.8%	$13.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$14.5M-30.8%	$20.9M-24.8%	$27.9M-15.4%	$32.9M+132.7%	-$100.6M-10.4%	-$91.1M-16.1%	-$78.5M-7.4%	-$73.1M
Retained Earnings	-$117.3M-6.2%	-$110.5M-7.1%	-$103.2M-5.7%	-$97.6M+87.2%	-$760.5M-724.5%	-$92.2M+87.7%	-$747.9M-1.7%	-$735.5M

TVRD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$23.5M-28.4%	-$18.3M+80.1%	-$92.1M-17.0%	-$78.7M-31.0%	-$60.1M-995.1%	-$5.5M
Capital Expenditures	N/A	$1.0M-56.0%	$2.4M+5423.3%	$43K+10.3%	$39K-88.8%	$349K
Free Cash Flow	N/A	-$19.4M+79.5%	-$94.5M-19.9%	-$78.8M-31.0%	-$60.1M-930.3%	-$5.8M
Investing Cash Flow	-$10.1M-120.7%	$48.7M+12.1%	$43.5M-66.2%	$128.7M+2809.1%	-$4.8M+76.6%	-$20.3M
Financing Cash Flow	$22.7M-15.9%	$27.0M-29.2%	$38.2M+12167.2%	$311K-99.3%	$46.6M+19.1%	$39.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$5.9M-3.1%	-$5.7M-33.5%	-$4.3M+27.5%	-$5.9M+23.7%	-$7.7M-59.1%	-$4.8M+27.4%	-$6.7M-128.2%	$23.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$210K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$4.8M+27.4%	-$6.7M-128.4%	$23.4M
Investing Cash Flow	$5.0M-0.5%	$5.0M-6.5%	$5.3M+156.0%	-$9.6M+12.2%	-$10.9M-317.7%	$5.0M+100.0%	$2.5M-83.6%	$15.3M
Financing Cash Flow	N/A	$1K+100.3%	-$322K-101.3%	$24.6M+1636.3%	-$1.6M-105.9%	$27.0M+193021.4%	-$14K-102.0%	$690K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TVRD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	100.0%	N/A
Operating Margin	N/A	-393.8%+185.6pp	-579.4%-370.3pp	-209.1%+177.8pp	-386.9%-390.8pp	4.0%
Net Margin	N/A	-411.9%-355.4pp	-56.5%+147.6pp	-204.2%+179.9pp	-384.1%-390.3pp	6.2%
Return on Equity	-86.9%	N/A	N/A	-53.8%-15.0pp	-38.9%-42.3pp	3.4%
Return on Assets	-56.8%+26.8pp	-83.5%-74.1pp	-9.4%+37.5pp	-46.9%-11.1pp	-35.8%-38.9pp	3.1%
Current Ratio	2.86-0.2	3.06-1.5	4.54-2.7	7.20-2.6	9.84-0.7	10.55
Debt-to-Equity	0.53+1.9	-1.39+1.6	-3.03-3.2	0.15+0.1	0.090.0	0.09
FCF Margin	N/A	-271.1%+179.3pp	-450.5%-262.3pp	-188.2%+73.0pp	-261.1%-256.8pp	-4.3%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-169.5%-1160.3pp	990.8%+1212.9pp	-222.1%+502.6pp	-724.6%
Net Margin	N/A	N/A	N/A	N/A	-372.9%+500.7pp	-873.5%-657.9pp	-215.7%+488.1pp	-703.8%
Return on Equity	-46.9%	N/A	-19.8%-32.5pp	12.7%	N/A	N/A	N/A	N/A
Return on Assets	-26.4%	N/A	-14.2%-23.7pp	9.5%+34.1pp	-24.6%+11.5pp	-36.1%-25.4pp	-10.7%-1.1pp	-9.6%
Current Ratio	2.25-0.6	2.86-0.6	3.48-0.6	4.04	N/A	3.06-1.7	4.77+0.2	4.59
Debt-to-Equity	0.78+0.2	0.53+0.1	0.40+0.1	0.33+1.7	-1.390.0	-1.39+0.3	-1.65+0.3	-1.99
FCF Margin	N/A	N/A	N/A	N/A	N/A	-332.2%-71.8pp	-260.4%-2624.2pp	2363.9%

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Frequently Asked Questions

Is Tvardi Therapeutics Inc profitable?

No, Tvardi Therapeutics Inc (TVRD) reported a net income of -$18.2M in fiscal year 2025.

What is Tvardi Therapeutics Inc's EBITDA?

Tvardi Therapeutics Inc (TVRD) had EBITDA of -$26.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Tvardi Therapeutics Inc's return on equity (ROE)?

Tvardi Therapeutics Inc (TVRD) has a return on equity of -86.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tvardi Therapeutics Inc's operating cash flow?

Tvardi Therapeutics Inc (TVRD) generated -$23.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tvardi Therapeutics Inc's total assets?

Tvardi Therapeutics Inc (TVRD) had $32.1M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Tvardi Therapeutics Inc spend on research and development?

Tvardi Therapeutics Inc (TVRD) invested $18.0M in research and development during fiscal year 2025.

How many shares does Tvardi Therapeutics Inc have outstanding?

Tvardi Therapeutics Inc (TVRD) had 9M shares outstanding as of fiscal year 2025.

What is Tvardi Therapeutics Inc's current ratio?

Tvardi Therapeutics Inc (TVRD) had a current ratio of 2.86 as of fiscal year 2025, which is generally considered healthy.

What is Tvardi Therapeutics Inc's debt-to-equity ratio?

Tvardi Therapeutics Inc (TVRD) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tvardi Therapeutics Inc's return on assets (ROA)?

Tvardi Therapeutics Inc (TVRD) had a return on assets of -56.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tvardi Therapeutics Inc's cash runway?

Based on fiscal year 2025 data, Tvardi Therapeutics Inc (TVRD) had $20.7M in cash against an annual operating cash burn of $23.5M. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Tvardi Therapeutics Inc's Piotroski F-Score?

Tvardi Therapeutics Inc (TVRD) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Tvardi Therapeutics Inc's earnings high quality?

Tvardi Therapeutics Inc (TVRD) has an earnings quality ratio of 1.29x, considered low quality (accrual-driven). 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.