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Terns Pharmaceuticals Balance Sheet 2025-2011 | TERN
Brief overview of Terns Pharmaceuticals's balance sheet structure
The review uses the five latest available annual reports between 2021 and 2025.
Assets reached $1 billion, compared with $168.1 million at the beginning. Growth of +509.9% and CAGR near 57.2% show active expansion.
Growth in the asset base was not matched by liabilities: +509.9% versus +138.9%. The balance sheet moved in a more conservative direction.
The equity ratio reached 98.2% from 95.4%. A high capital share reduces dependence on liabilities.
The period ended with net cash: net debt stood at -$523.8 million. This supports financial flexibility.
The cash share moved from 28.4% to 51.2%. A higher figure generally provides more room in an adverse scenario.
The balance sheet includes a negative accumulated result of -$517.7 million. It should be assessed alongside historical profits and capital distributions.
What the balance sheet shows
Terns Pharmaceuticals shows a high-quality balance sheet profile, with adequate internal capital and room for maneuver.
Annual Balance Sheet Terns Pharmaceuticals
| 2025 | 2024 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-524 M | -160 M | -142 M | - | -62 M | -12.3 M | -82.5 M | - | - | - | - | - | - | - | |
Long Term Debt |
445 K | 919 K | - | 544 K | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
474 K | 428 K | 603 K | 661 K | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 877 K | 14.7 M | 14.5 M | - | - | - | - | - | - | - |
Total Current Liabilities |
16.4 M | 15.6 M | 11.9 M | 8.47 M | 6.82 M | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
18.6 M | 18.1 M | 13.2 M | 10.1 M | 7.77 M | 23.7 M | 19.7 M | 16.8 M | - | - | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | 836 K | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-518 M | -421 M | -333 M | -242 M | -182 M | -132 M | -91.9 M | -23.3 M | - | - | - | - | - | - | - |
Total Assets |
1.03 B | 364 M | 269 M | 287 M | 168 M | 92.3 M | 23.9 M | 89.1 M | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
525 M | 161 M | 79.9 M | 143 M | 47.7 M | - | - | - | - | - | - | - | - | - | - |
Book Value |
1.01 B | 346 M | 255 M | 277 M | 160 M | 68.6 M | 4.21 M | 72.2 M | - | - | - | - | - | - | - |
Total Shareholders Equity |
1.01 B | 346 M | 255 M | 277 M | 160 M | -117 M | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Terns Pharmaceuticals
| 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
570 K | 689 K | 806 K | 919 K | 1.03 M | - | - | - | 63 K | 223 K | 386 K | 544 K | 702 K | 851 K | 1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
17.6 M | 15.2 M | 13.3 M | 18.1 M | 13.8 M | 12.2 M | 10 M | 13.2 M | 13.3 M | 15.5 M | 13.6 M | 10.1 M | 8.89 M | 7.64 M | 7.95 M | 7.77 M | 7.73 M | 6.68 M | 9.24 M | 23.7 M | 23.7 M | 23.7 M | 23.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-494 M | -469 M | -445 M | -421 M | -400 M | -378 M | -355 M | -333 M | -312 M | -282 M | -264 M | -242 M | -227 M | -210 M | -196 M | -182 M | -168 M | -156 M | -145 M | -132 M | -132 M | -132 M | -132 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
302 M | 320 M | 339 M | 364 M | 378 M | 231 M | 247 M | 269 M | 272 M | 290 M | 301 M | 287 M | 193 M | 145 M | 157 M | 168 M | 180 M | 188 M | 199 M | 92.3 M | 92.3 M | 92.3 M | 92.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
151 M | 146 M | 139 M | 161 M | 270 M | 91.5 M | 65.1 M | 79.9 M | 37.9 M | 80.9 M | 184 M | 143 M | 63 M | 16.8 M | 43.9 M | 47.7 M | 64.8 M | 67.6 M | 98.8 M | 74.9 M | 74.9 M | 74.9 M | 74.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
284 M | 305 M | 326 M | 346 M | 364 M | 219 M | 237 M | 255 M | 258 M | 274 M | 288 M | 277 M | 184 M | 137 M | 149 M | 160 M | 172 M | 181 M | 190 M | 68.6 M | 68.6 M | 68.6 M | 68.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
284 M | 305 M | 326 M | 346 M | 364 M | 219 M | 237 M | 255 M | 258 M | 274 M | 288 M | 277 M | 184 M | 137 M | 149 M | 160 M | 172 M | 181 M | 190 M | -117 M | -117 M | -117 M | -117 M | -90.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Terns Pharmaceuticals, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.