undamentalytics Newsletter
Sign in

Telix Pharmaceuticals Ltd (TLX) stock

Add to watchlist

Add holding +

NASDAQ: TLX Nasdaq Biotechnology

B Fundamentals grade

Telix Pharmaceuticals Ltd is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$11

Revenue-to-maturity cash-flow model

Base case. Range ~$9.0–$14 across our lower- and higher-growth cases (25%–35% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Telix Pharmaceuticals Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling3 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds44 adding, 9 cuttingOf 6 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Telix Pharmaceuticals Ltd's trailing-twelve-month revenue grew 55.6% year on year, with a free-cash-flow margin of -5.3%. Where it stands out: stock pay as % of revenue of 2.4% ranks 13 of 179 biotechnology companies we cover. Where it lags: long-term debt as % of assets of 66.6% ranks 72 of 78 biotechnology companies we cover.

Current signal Gross margin compressing: TTM gross margin fell to 53.1%, down 12.0pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 55.6% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Shrinking share count. Diluted shares fell 2.1% in a year, so each share owns more of the business.

Things to watch

  • Margins narrowing. Operating margin is down 7.0 points on a year ago.
  • Burning cash. Free cash flow was -5.3% of revenue over the last 12 months.
  • Gross margin slipping. Gross margin is down 12.0 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 66.6% ranks 72 of 78 biotechnology companies we cover (median 20.6%).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 114.6% over 90 days.

Price chart

  • 1 day-0.5%
  • 1 week+0.7%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$804M
Operating margin
3.7%
Net margin
-0.9%
EPS (TTM, diluted)
$-0.02

Growth

Revenue growth
+55.6%
Change in growth rate
+0.5 pts
Share count change
−2.1%

Cash

Free cash flow (TTM)
-$43M
FCF margin
-5.3%
Stock pay % of revenue
2.4%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for TLX from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Telix Pharmaceuticals Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Telix Pharmaceuticals Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$11 ~$9.0–$14 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.7 ~$0.5–$1.1 Left out: out of range vs price (0.08x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$0.6 ~$0.5–$0.6 Left out: out of range vs price (0.06x)
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$2.9 ~$6.3–$22 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.6 ~$2.9–$11 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Telix Pharmaceuticals Ltd with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.16 +640% $1.4bn +16%
Next −$0.04 −124% $1.6bn +13%

Next year's EPS estimate has moved −114.6% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +75.1% on 90 days ago. In the last 30 days, 3 analysts raised Telix Pharmaceuticals Ltd's forecast and 1 cut it.

Consensus EPS forecast Telix Pharmaceuticals Ltd, last 90 days
−$0.10 $0.00 $0.10 $0.20 $0.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.09 Current fiscal year, 60 days ago: $0.15 Current fiscal year, 30 days ago: $0.15 Current fiscal year, 7 days ago: $0.15 Current fiscal year, Now: $0.16 $0.16 Next fiscal year, 90 days ago: $0.26 Next fiscal year, 60 days ago: $0.20 Next fiscal year, 30 days ago: −$0.04 Next fiscal year, 7 days ago: −$0.04 Next fiscal year, Now: −$0.04 −$0.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.09$0.26
60 days ago $0.15$0.20
30 days ago $0.15−$0.04
7 days ago $0.15−$0.04
Now $0.16−$0.04

Analyst recommendations

5 analysts, Nov 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Nov 202655
  2. Oct 202655
  3. Sep 202655

Counts of recommendations published by analysts covering Telix Pharmaceuticals Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.1%
of tradable shares
Days to cover
0.76
at average volume
Short interest, 1 month
+0%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
0.1%
of shares
Employees
1,120
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Telix Pharmaceuticals Ltd in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 333 517 804
Gross profit 210 336 426
EBITDA 15 60 51
Operating income 11 55 30
Net income 4 34 −7
Diluted EPS $0.01 $0.10 −$0.02
Growth (year on year)
Revenue — +55.1% +55.6%
EBITDA — +287.5% −14.6%
Operating income — +401.2% −46.0%
Net income — — −121.2%
Diluted EPS — — −121.6%
Margins
Gross margin 62.9% 65.1% 53.1%
EBITDA margin 4.7% 11.6% 6.4%
Operating margin 3.3% 10.7% 3.7%
Net margin 1.3% 6.5% −0.9%
Free-cash-flow margin 2.4% 3.6% −5.3%
Cash flow
Cash from operations 14 27 −17
Capital spending 6 9 26
Free cash flow 8 18 −43
Stock-based pay 6 13 19
Free cash flow after stock pay 2 5 −62
Balance sheet
Cash 84 440 142
Total debt 7 354 405
Net debt (negative = net cash) −78 −86 263
Diluted shares 324m 345m 338m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · December 31, 2025
What it owns · $1.2bn
Short-term assets $330mLonger-term assets $834m
What it owes, and who funded it · $1.2bn
Short-term liabilities $232mLonger-term liabilities $517mShareholders' equity $415m
  • Short-term assets cover short-term liabilities $330m of assets due within a year against $232m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $330m short-term assets against $517m of longer-dated liabilities.
  • More cash than debt $142m of cash against $800m of debt.
  • Debt below 40% of shareholders' equity Debt is 193% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$17m of operating cash flow against $800m of debt.
  • Operating profit covers interest at least five times over Operating income of $30m against $181,000 of interest.

From Telix Pharmaceuticals Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
−2.1%
year over year
R&D spending
21.3%
of revenue
Days sales outstanding
59 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated TLX TGTX ASND IONS RARE NRIX Median
Revenue, last 12 months $804m $800m $814m $874m $717m $702m $56m
Revenue growth, last 12 months 55.6% 76.1% 106.9% −7.4% 17.5% 738.8% 12.6%
Revenue growth, 3-year average — 221.5% — 11.5% 21.2% 117.1% 13.7%
Revenue growth, latest quarter — 70.3% — −40.7% 28.1% >999% 10.2%
Gross margin 53.1% 82.4% 86.8% 98.2% 97.2% — 82.9%
Operating margin 3.7% 17.1% −18.9% −68.0% −73.6% 41.3% −189.4%
Operating margin, 3-year average — 21.8% <−999% −47.0% −90.2% −207.1% −363.5%
Net margin −0.9% 55.2% −31.7% −64.7% −81.7% 42.0% −169.8%
Cash from operations / revenue −2.2% 2.2% 7.5% −56.8% −67.6% 54.0% −168.0%
Free-cash-flow margin −5.3% 2.2% 7.5% −64.2% −68.2% 52.7% −162.4%
Free-cash-flow margin, 3-year average — <−999% <−999% −46.3% −79.3% −141.7% −310.0%
Stock pay / revenue 2.4% 10.2% 16.1% 18.7% 15.1% 5.8% 20.0%
Change in share count −2.1% −3.5% 4.7% −2.8% 4.2% 31.0% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 55.6% 12.6% 52 of 172
Change in growth rate Growth +0.5pp -0.1pp 79 of 172
Gross margin Profitability 53.1% 82.4% 67 of 75
Operating margin Profitability 3.7% -189.4% 37 of 175
Net margin Profitability -0.9% -157.3% 40 of 180
Free-cash-flow margin Cash generation -5.3% -145.4% 46 of 176
Stock pay as % of revenue Cash generation 2.4% 19.2% 13 of 179
Long-term debt as % of assets Balance sheet 66.6% 20.6% 72 of 78
Change in share count Balance sheet -2.1% 7.9% 15 of 156
Days sales outstanding Balance sheet 59 days 75 days 41 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$36.6M
Institutions reporting
61
Shares held vs prior quarter
▲ 23.7%
Positions opened / closed
24 / 1

Top buyers and sellers, Q2 2026: 44 institutions bought and 9 sold ; the biggest buyer was Marshall Wace, LLP (+189K shares) and the biggest seller Portolan Capital Management, LLC (−516K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $6.5M 561K 17.7% ▼ 0.6%
Lazard Asset Management LLC $3.3M 284K 9.0% ▼ 2.0%
Portland Investment Counsel Inc. $3.1M 266K 8.4% 0.0%
Private Advisor Group, LLC $2.3M 197K 6.2% ▲ 13.1%
Marshall Wace, LLP $2.2M 189K 6.0% New
Morgan Stanley $1.9M 166K 5.2% ▲ 42.5%
Integrated Wealth Concepts LLC $1.9M 164K 5.2% 0.0%
Hennion & Walsh Asset Management, Inc. $1.7M 150K 4.7% New
UBS Group AG $1.6M 135K 4.2% ▲ 317.0%
Blair William & Co $1.4M 123K 3.9% New
Raiffeisen Bank International AG $1.3M 115K 3.6% ▼ 11.5%
Quadrature Capital Ltd $1.2M 102K 3.2% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Telix Pharmaceuticals Ltd's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $1M 3 trades by 2 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $1M net buying
Insider Date Trade Shares Price Value
Smith Darren Charlton Group Chief Financial Officer September 7, 2026 Buy 2,071 $9.66 $20,006
Behrenbruch Christian MD & Group CEO April 29, 2026 Buy 33,435 $14.87 $497,178
Behrenbruch Christian MD & Group CEO April 28, 2026 Buy 34,500 $14.48 $499,560

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K
  • 6-K 6-K

Data status

When each part of this page on Telix Pharmaceuticals Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Telix Pharmaceuticals Ltd in brief

What does Telix Pharmaceuticals Ltd do?
Telix Pharmaceuticals Ltd is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Telix Pharmaceuticals Ltd's stock ticker?
Telix Pharmaceuticals Ltd trades under the ticker TLX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Telix Pharmaceuticals Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Telix Pharmaceuticals Ltd reported revenue of $804M, 55.6% higher than a year earlier, according to its SEC filings.
What is Telix Pharmaceuticals Ltd's free cash flow?
Telix Pharmaceuticals Ltd's free-cash-flow margin is -5.3% of revenue over the trailing twelve months, ranking 46 of the 176 biotechnology companies we cover.
Who are Telix Pharmaceuticals Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Lazard Asset Management LLC and Portland Investment Counsel Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Telix Pharmaceuticals Ltd have?
Telix Pharmaceuticals Ltd's debt-to-equity ratio is 192.5%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Telix Pharmaceuticals Ltd's competitors?
In our Biotechnology peer group, the companies closest to Telix Pharmaceuticals Ltd are TG Therapeutics, Inc., Ascendis Pharma A/s, Ionis Pharmaceuticals Inc, Ultragenyx Pharmaceutical Inc. and Nurix Therapeutics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Telix Pharmaceuticals Ltd's.
Are insiders buying or selling Telix Pharmaceuticals Ltd stock?
Over the last 12 months, Telix Pharmaceuticals Ltd's directors and officers reported 3 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.