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TENON MEDICAL INC (TNON) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:TNON - US88066N3035 - Common Stock

1.01 USD
+0.01 (+1%)
Last: 1/7/2026, 8:00:55 PM
1 USD
-0.01 (-0.99%)
After Hours: 1/7/2026, 8:00:55 PM
Fundamental Rating

3

Taking everything into account, TNON scores 3 out of 10 in our fundamental rating. TNON was compared to 185 industry peers in the Health Care Equipment & Supplies industry. The financial health of TNON is average, but there are quite some concerns on its profitability. TNON is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

TNON had negative earnings in the past year.
TNON had a negative operating cash flow in the past year.
TNON had negative earnings in each of the past 5 years.
In the past 5 years TNON always reported negative operating cash flow.
TNON Yearly Net Income VS EBIT VS OCF VS FCFTNON Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 -5M -10M -15M

1.2 Ratios

TNON has a Return On Assets of -123.59%. This is amonst the worse of the industry: TNON underperforms 84.32% of its industry peers.
Looking at the Return On Equity, with a value of -267.01%, TNON is doing worse than 75.68% of the companies in the same industry.
Industry RankSector Rank
ROA -123.59%
ROE -267.01%
ROIC N/A
ROA(3y)-185.03%
ROA(5y)-156.48%
ROE(3y)-844.8%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
TNON Yearly ROA, ROE, ROICTNON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 -500 -1K -1.5K -2K

1.3 Margins

TNON has a Gross Margin (52.40%) which is in line with its industry peers.
In the last couple of years the Gross Margin of TNON has declined.
TNON does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 52.4%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.76%
GM growth 5Y-8.18%
TNON Yearly Profit, Operating, Gross MarginsTNON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 -1K -2K -3K -4K

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5

2. Health

2.1 Basic Checks

TNON does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, TNON has more shares outstanding
The number of shares outstanding for TNON has been increased compared to 5 years ago.
There is no outstanding debt for TNON. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
TNON Yearly Shares OutstandingTNON Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 1M 2M 3M
TNON Yearly Total Debt VS Total AssetsTNON Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M

2.2 Solvency

TNON has an Altman-Z score of -12.87. This is a bad value and indicates that TNON is not financially healthy and even has some risk of bankruptcy.
TNON has a worse Altman-Z score (-12.87) than 82.70% of its industry peers.
There is no outstanding debt for TNON. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -12.87
ROIC/WACCN/A
WACC9.71%
TNON Yearly LT Debt VS Equity VS FCFTNON Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 5M -5M -10M

2.3 Liquidity

A Current Ratio of 2.15 indicates that TNON has no problem at all paying its short term obligations.
TNON has a Current ratio of 2.15. This is comparable to the rest of the industry: TNON outperforms 43.24% of its industry peers.
TNON has a Quick Ratio of 1.70. This is a normal value and indicates that TNON is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of TNON (1.70) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.15
Quick Ratio 1.7
TNON Yearly Current Assets VS Current LiabilitesTNON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 5M 10M 15M

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6

3. Growth

3.1 Past

TNON shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 84.17%, which is quite impressive.
The Revenue has decreased by -2.47% in the past year.
The Revenue has been growing by 130.83% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)84.17%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%88.98%
Revenue 1Y (TTM)-2.47%
Revenue growth 3Y173.6%
Revenue growth 5Y130.83%
Sales Q2Q%32.24%

3.2 Future

TNON is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.82% yearly.
Based on estimates for the next years, TNON will show a very strong growth in Revenue. The Revenue will grow by 53.87% on average per year.
EPS Next Y92.39%
EPS Next 2Y39.97%
EPS Next 3Y25.34%
EPS Next 5Y14.82%
Revenue Next Year3.71%
Revenue Next 2Y33.19%
Revenue Next 3Y38.06%
Revenue Next 5Y53.87%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
TNON Yearly Revenue VS EstimatesTNON Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10M 20M 30M 40M
TNON Yearly EPS VS EstimatesTNON Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -50 -100 -150

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1

4. Valuation

4.1 Price/Earnings Ratio

TNON reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for TNON. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
TNON Price Earnings VS Forward Price EarningsTNON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30 40

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
TNON Per share dataTNON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -1 -2 -3 -4

4.3 Compensation for Growth

TNON's earnings are expected to grow with 25.34% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y39.97%
EPS Next 3Y25.34%

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0

5. Dividend

5.1 Amount

No dividends for TNON!.
Industry RankSector Rank
Dividend Yield 0%

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TENON MEDICAL INC

NASDAQ:TNON (1/7/2026, 8:00:55 PM)

After market: 1 -0.01 (-0.99%)

1.01

+0.01 (+1%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)11-13 2025-11-13/amc
Earnings (Next)03-18 2026-03-18/amc
Inst Owners2.45%
Inst Owner Change0%
Ins Owners4.06%
Ins Owner Change0.64%
Market Cap10.93M
Revenue(TTM)3.23M
Net Income(TTM)-12.81M
Analysts82.5
Price Target2.81 (178.22%)
Short Float %1.66%
Short Ratio0.34
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)9.46%
Min EPS beat(2)-5.99%
Max EPS beat(2)24.91%
EPS beat(4)3
Avg EPS beat(4)7.92%
Min EPS beat(4)-5.99%
Max EPS beat(4)24.91%
EPS beat(8)7
Avg EPS beat(8)14.46%
EPS beat(12)10
Avg EPS beat(12)13.96%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-18.33%
Min Revenue beat(2)-39.2%
Max Revenue beat(2)2.53%
Revenue beat(4)1
Avg Revenue beat(4)-31.32%
Min Revenue beat(4)-47.97%
Max Revenue beat(4)2.53%
Revenue beat(8)1
Avg Revenue beat(8)-23.82%
Revenue beat(12)1
Avg Revenue beat(12)-19.96%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-4.35%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-9.09%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-22.45%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-16.69%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 3.38
P/FCF N/A
P/OCF N/A
P/B 2.28
P/tB 5.78
EV/EBITDA N/A
EPS(TTM)-4.31
EYN/A
EPS(NY)-0.99
Fwd EYN/A
FCF(TTM)-1.05
FCFYN/A
OCF(TTM)-1.04
OCFYN/A
SpS0.3
BVpS0.44
TBVpS0.17
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -123.59%
ROE -267.01%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 52.4%
FCFM N/A
ROA(3y)-185.03%
ROA(5y)-156.48%
ROE(3y)-844.8%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.76%
GM growth 5Y-8.18%
F-Score3
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 16.49%
Cap/Sales 1.45%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.15
Quick Ratio 1.7
Altman-Z -12.87
F-Score3
WACC9.71%
ROIC/WACCN/A
Cap/Depr(3y)429.83%
Cap/Depr(5y)N/A
Cap/Sales(3y)47.06%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)84.17%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%88.98%
EPS Next Y92.39%
EPS Next 2Y39.97%
EPS Next 3Y25.34%
EPS Next 5Y14.82%
Revenue 1Y (TTM)-2.47%
Revenue growth 3Y173.6%
Revenue growth 5Y130.83%
Sales Q2Q%32.24%
Revenue Next Year3.71%
Revenue Next 2Y33.19%
Revenue Next 3Y38.06%
Revenue Next 5Y53.87%
EBIT growth 1Y4.64%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y19.9%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y15.01%
OCF growth 3YN/A
OCF growth 5YN/A

TENON MEDICAL INC / TNON FAQ

What is the fundamental rating for TNON stock?

ChartMill assigns a fundamental rating of 3 / 10 to TNON.


Can you provide the valuation status for TENON MEDICAL INC?

ChartMill assigns a valuation rating of 1 / 10 to TENON MEDICAL INC (TNON). This can be considered as Overvalued.


Can you provide the profitability details for TENON MEDICAL INC?

TENON MEDICAL INC (TNON) has a profitability rating of 0 / 10.


How financially healthy is TENON MEDICAL INC?

The financial health rating of TENON MEDICAL INC (TNON) is 5 / 10.