Telix Pharmaceuticals Ltd key statistics and ratios

In fiscal 2025, Telix Pharmaceuticals Ltd had return on equity of -1.9%, an operating margin of 3.7%, debt equal to 97.5% of equity and a current ratio of 1.43. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Telix Pharmaceuticals Ltd: financial ratios, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	62.9%	65.1%	53.1%
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%
Return on equity	4.1%	14.8%	−1.9%
Return on assets	1.5%	5.5%	−0.7%
Asset turnover	1.20	0.85	0.76
Current ratio	1.42	2.78	1.43
Debt to equity	6.4%	100.2%	97.5%
Interest cover (operating income ÷ interest)	113.5x	—	164.5x
Effective tax rate	—	11.2%	—
R&D as % of revenue	25.6%	24.8%	21.3%
Capital spending as % of revenue	1.9%	1.8%	3.2%
Free cash flow ÷ net income	189.3%	54.5%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Telix Pharmaceuticals Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Telix Pharmaceuticals Ltd.