TXG

10x Genomics

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Healthcare

industry

Health Information Services

Exchange

Nasdaq

County of HQ

United States

Next Earnings Date

05/14/26

Business Summary

10x Genomics develops advanced genomic analysis platforms that enable researchers to study biological systems at single-cell resolution, monetizing through instrument sales, consumables, and recurring workflow-driven purchases. Its moat is built around proprietary microfluidics technology, integrated hardware-software ecosystems, and high switching costs once laboratories standardize on its platforms. Recurring consumables revenue creates a razor-and-blade dynamic, where installed instruments drive ongoing purchasing behavior. The company generates cash by embedding itself into research pipelines, making its tools foundational to experimental design and difficult to displace once validated in scientific workflows.

VALUATION

P/E

-

Market Cap ($M USD)

$2,972

Forward P/E

139.6

PEG

-

PRICE TO SALES

4.5

PRICE TO BOOK

3.7

EV / EBITDA

648

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$0.35

Next Year EPS Growth Estimate

$0.17

Next Year Revenue Growth Estimate

7.30%

Return on Equity (ROE)

-5.50%

Operating Margin

-17.20%

Debt-to-Equity

0.1

Piotroski F-Score

5

Altman Z-Score

6.1

Return on Invested Capital (ROIC)

-7.10%%

Current Ratio

4.5

Quick Ratio

Gainseekers Quantitative Analysis

Summary

TXG is priced like a speculative turnaround masquerading as a growth stock. A Forward P/E of 139.6 paired with a negative Operating Margin of -5.50% and ROIC of -7.10% signals that the market is demanding a heroic earnings inflection that is nowhere visible in current profitability metrics. Yet the Altman Z-Score of 6.1 and a strong Current Ratio of 4.5 indicate balance sheet durability and low near-term bankruptcy risk, meaning this is not a solvency story but a valuation-risk story. The stock is not statistically cheap at 4.5x sales and 3.7x book given negative returns on capital, so unless earnings materially improve beyond the -$0.35 EPS estimate next year, this multiple embeds substantial execution risk rather than a clear mispricing.

AI Exposure / Tech Reliance

Operating in Health Information Services within Healthcare, TXG sits in a data-intensive vertical where AI-driven analytics and genomic data processing are becoming foundational capabilities. The company’s sector inherently benefits from computational biology, data interpretation, and precision analytics, suggesting structural exposure to AI-enabled efficiency gains. However, with negative operating margins, the ability to monetize AI leverage will depend on converting innovation into scalable profitability rather than just technological relevance.

The Bull Case

A GARP or deep value investor could argue that the foundation is sturdier than the income statement suggests. The Altman Z-Score of 6.1 combined with a 4.5 Current Ratio implies exceptional financial stability, giving management time to fix margins without liquidity stress. A Piotroski F-Score of 5 signals middling but not distressed fundamentals, and Return on Equity of 7.30% shows the company can generate positive equity returns despite operating losses, suggesting accounting or capital structure nuances that may mask underlying improvements. With a manageable Market Cap of $2,972M and Price/Sales at 4.5, even modest operating leverage could create asymmetric upside if earnings normalize relative to the aggressive 139.6 forward multiple.

The Bear Case

The bear case is straightforward and brutal: investors are paying a 139.6 Forward P/E for a company with a -5.50% Operating Margin, -7.10% ROIC, and expected EPS of -$0.35 next year. That is not growth at a reasonable price—that is growth at any price. Debt/Equity at -17.20% is structurally unusual and may reflect balance sheet distortions, while the absence of a PEG ratio and missing P/E underscore the lack of stable earnings visibility. With ROIC negative and margins underwater, the company is destroying capital today, and unless that reverses quickly, the premium valuation compresses violently.

Market Sentiment & Smart Money

Short Interest %

19.60%

Analyst Consensus

2.33

Average Analyst Price Target

$20.57

Institutional Ownership %

108.00%

1-Year Beta

1.98

Insider Buying % (6 Mo)

1.80%%

Distance to 52-Week High

98.40%%

Distance to 52-Week Low

321.00%%