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ZYBERNO

Stock Report

Updated Aug 29, 2026

TG THERAPEUTICS, INC. (TGTX)

Healthcare • NASDAQ

$53.93

TG Therapeutics Inc. is an American commercial-stage biopharmaceutical company headquartered in New York City that develops treatments for B-cell malignancies and autoimmune diseases. The company's lead product Briumvi (ublituximab) is an anti-CD20 monoclonal antibody approved for relapsing forms of multiple sclerosis, differentiated by its rapid infusion profile allowing 1-hour infusion administration.

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

55.0/100

AVERAGE BUSINESS

TG THERAPEUTICS, INC. (TGTX) scores 55/100 — decent metrics but limited evidence of durable competitive advantage.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full TGTX quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-26.0%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full TGTX valuation analysis · → View full TGTX Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):EXCELLENT (72.3%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.03x)

Operating Margin (Operational Efficiency):GOOD (17.1%)

Return on Capital (Capital Efficiency):POOR (9.6%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

TG THERAPEUTICS, INC. (TGTX) stock report — Zyberno Score 55/100 (AVERAGE BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, TG THERAPEUTICS, INC. (TGTX) shows a Brina Gap of -26.0%, which weakens the case: based on the company's ROIC (9.6%) and reinvestment rate (0.2%), the business can fundamentally grow at 0.0% — but the current enterprise value implies the market expects 26.0%.

Over the trailing twelve months, TGTX generated -$14.03M in Owner Earnings. Capital was deployed as follows: $99.99M returned via share buybacks, $240.00K invested in capital expenditures. Reinvestment rate: 0.2%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:53.93

Market Cap:$7.65B

Valuation Multiples (4)

P/E Ratio:

19.68x

📊 Click to view full TGTX P/E analysis →

P/B Ratio:12.66x

P/S Ratio:9.56x

Peg Ratio:0.02x

Enterprise Metrics (2)

Enterprise Value:$8.12B

Ev Ebitda Ratio:59.54x

Price Action & Momentum (3)

12-1 Momentum:

+57.9% (82th pctile)

📈 Click to view full TGTX Momentum analysis →

Momentum Percentile:82 / 100

% of 52-Week High:90.9%

B. Profitability Assessment

Return Metrics (7)

ROE:

72.3%

📊 Click to view full TGTX ROE analysis →

ROA:33.6%

Roic:

9.6%

📊 Click to view full TGTX ROIC analysis →

Reinvestment Rate:0.2%

Fundamental Growth Rate (g):0.0%

Market-Implied Growth Rate:26.0%

Brina Gap:

-26.0%

☷ Click to view full TGTX Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:17.1%

Net Margin Ttm:55.2%

Ebitda Margin:17.1%

TTM Performance (3)

Gross Margin Ttm:82.4%

Operating Margin Ttm:17.1%

Net Margin Ttm:55.2%

Yield Metrics (2)

Earnings Yield:$5.08

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-0.61

📊 Click to view full TGTX Earnings Surprise analysis →

EPS Surprise vs Expected:-88.8%

Latest Earnings Filed:2026-08-05

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):100.0%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-8.3%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-42.9%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):-5.7%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:4.27x

Quick Ratio:3.72x

Cash Ratio:1.80x

Leverage Analysis (3)

Debt To Equity Ttm:0.03x

Debt-to-Equity Ratio:0.03x

Debt To Ebitda:7.03x

Coverage Ratios (2)

Interest Coverage Ratio:3.29x

Times Interest Earned:3.29

Capital Structure (4)

Working Capital:877,194,000.00

Cash And Cash Equivalents:482,575,000.00

Long Term Debt:$745.39M

Net Debt:$476.51M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $799.54M

Linear Growth: 100.0%

📊 Click to view full TGTX Revenue analysis & methodology →

Cost Of Revenue Ttm:$140.94M

Profitability Breakdown (2)

Gross profit TTM: $658.60M

Linear Growth: 73.7%

📊 Click to view full TGTX Gross Profit analysis & methodology →

Operating income TTM: $136.33M

Linear Growth: -5.7%

📊 Click to view full TGTX Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $441.49M

Linear Growth: -8.3%

📊 Click to view full TGTX Net Income analysis & methodology →

Income Before Tax:$101.60M

Ebitda Ttm:136,411,000.00

Operating Expenses (5)

Operating Expenses:663,208,000.00

R And D Expense:225,804,000.00

Sga Expense:296,465,000.00

Income Tax Expense:-$336.75M

Interest Expense:37,492,000.00

Expense Ratios (3)

R And D To Revenue Percentage:94.0%

Sga To Revenue Percentage:123.4%

Ebitda Margin:17.1%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.64B

Current Assets:$1.15B

Ppe Net:0.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:1,035,546,000.00

Current Liabilities:268,493,000.00

Long Term Debt:$745.39M

Short Term Debt:$213.69M

Equity & Capital (3)

Equity:$604.08M

Retained Earnings:-$1.05B

Common Stock:190,000,000.00

Working Capital Items (3)

Accounts Receivable:401,565,000.00

Inventory:147,973,000.00

Accounts Payable:213,693,000.00

Special Items (2)

Contract Liabilities:16,825,000.00

Stock Based Compensation:19,950,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: -$13.95M

Linear Growth: -42.9%

-$14.19M

Investment Activities (2)

Investing Cash Flow:-$9.86M

Capital Expenditures Ttm:240,000.00

Financing Activities (3)

Financing Cash Flow:$390.83M

Dividends Paid Ttm:0.00

Stock Repurchase:99,992,000.00

Capital Transactions (3)

Common Stock Issuance:34,200,000.00

Long Term Debt Issuance:$747.66M

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:83,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):3.07

Eps diluted TTM: $2.74

Linear Growth: -6.0%

📊 Click to view full TGTX EPS analysis & methodology →

Earnings Per Share Ttm:$3.11

Revenue & Cash Per Share (2)

Sales Per Share Ttm:5.64

Operating Cash Flow Per Share:-$0.17

Book Value & Capital (2)

Book Value Per Share:$4.26

Cash Per Share:3.40

Dividend Policy (1)

Dividend Payout Ratio:0.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.61x

Working Capital Turnover Ttm:0.91x

Receivables Management (2)

Receivables Turnover Ttm:1.99x

Days Sales Outstanding Ttm:183.32

Inventory Management (2)

Inventory Turnover Ttm:0.95x

Days Inventory Outstanding Ttm:383.22

Payables & Cash Cycle (2)

Days Payable Outstanding:553.42

Cash Conversion Cycle:13.12

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00

Quality Score:55.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (1)

-$14.03M

Damodaran Growth Analysis (4)

Reinvestment Rate:0.2%

Fundamental Growth Rate (g):0.0%

Market-Implied Growth Rate:26.0%

Brina Gap:

-26.0%

☷ Click to view full TGTX Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):100.0%

Net Income Growth Rate (Linear):-8.3%

Operating Income Growth Rate (Linear):-5.7%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-42.9%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):73.7%

Book Value Growth Rate (Linear):30.2%

C. Company Profile & Context

Corporate Information (6)

Symbol:TGTX

Company Name:TG THERAPEUTICS, INC.

Sector:Healthcare

Industry:Pharmaceuticals

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:high

Volume Category:N/A

Share Structure (3)

Shares Outstanding:141.77M

Shares Outstanding Basic:141.77M

Shares Outstanding Diluted:157.28M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-29 22:56:02 UTC

Data Timestamp:2026-08-29T22:56:02.023906