TNL Mediagene key statistics and ratios

In fiscal 2025, TNL Mediagene had an operating margin of -110.1%, debt equal to 1217.4% of equity and a current ratio of 0.50. 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.

TNL Mediagene: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	38.7%	35.3%	36.6%	31.1%
Operating margin	−17.1%	−20.6%	−157.4%	−110.1%
Net margin	−55.0%	−2.2%	−175.3%	−99.0%
Free-cash-flow margin	−4.1%	−4.2%	−21.2%	−11.2%
Return on equity	—	−3.3%	−155.9%	—
Return on assets	—	−0.7%	−80.0%	−62.4%
Asset turnover	—	0.30	0.46	0.63
Current ratio	—	0.68	0.54	0.50
Debt to equity	—	14.8%	27.8%	>999%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m
R&D as % of revenue	12.5%	9.3%	6.3%	6.9%
Capital spending as % of revenue	0.3%	0.2%	0.2%	0.3%

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

1 of 6 checks passed · December 31, 2025

What it owns · $50m

Short-term assets $18mLonger-term assets $32m

What it owes, and who funded it · $50m

Short-term liabilities $35mLonger-term liabilities $14mShareholders' equity $1m

Short-term assets cover short-term liabilities $18m of assets due within a year against $35m of liabilities due within a year.
Short-term assets cover long-term liabilities $18m short-term assets against $14m of longer-dated liabilities.
More cash than debt $2m of cash against $11m of debt.
Debt below 40% of shareholders' equity Debt is 1217% 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 −$5m of operating cash flow against $11m of debt.
Operating profit covers interest at least five times over Operating income of −$50m against $669,840 of interest.

From TNL Mediagene'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: High.

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

Compare with peers

Head to head: DJCO vs TNMG EDUC vs TNMG LEE vs TNMG

More: Publishing stocks compared, Communication Services sector, rankings of US companies

Figures from TNL Mediagene'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 TNL Mediagene.