Last 25 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -39.72 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 6.02 | 4.65 | 5.77 | 5.33 | 4.18 | 6.45 | 8.04 | 6.56 | 6.30 | 11.62 | 12.37 | 72.71 | — |
| — | -27.9% | -28.2% | -18.7% | -33.6% | -44.5% | -35.0% | -91.0% | — | -65.4% | +31.4% | — | — | |
| P/B Ratio | 7.68 | 8.64 | 10.20 | 7.56 | 5.16 | 5.90 | 9.51 | 5.32 | 4.08 | 4.66 | 3.28 | 2.55 | 3.28 |
| — | +46.3% | +7.3% | +42.2% | +26.6% | +26.6% | +189.6% | +108.7% | +24.3% | +140.5% | +68.3% | +13.1% | +104.5% | |
| P/FCF | — | — | 67.51 | 38.73 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Tarsus Pharmaceuticals, Inc.'s operating margin was -3.8% in Q1 2026, up 1.5 pp QoQ and up 29.8 pp YoY. This marks the 11th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of -10.7% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.2% | 94.2% | 92.8% | 79.3% | 93.9% | 93.3% | 92.6% | 93.3% | 92.6% | 94.0% | 90.7% | 79.9% | — |
| — | +0.9% | +0.2% | -15.0% | +1.4% | -0.7% | +2.1% | +16.8% | — | +4.7% | -5.5% | — | — | |
| Operating Margin | -15.7% | -3.8% | -5.3% | -12.2% | -21.6% | -33.5% | -36.8% | -52.3% | -81.6% | -136.5% | -339.9% | -2187.9% | — |
| — | +88.7% | +85.7% | +76.6% | +73.5% | +75.4% | +89.2% | +97.6% | — | +86.3% | -125.7% | — | — | |
| Net Margin | -14.7% | -4.3% | -5.5% | -10.6% | -19.8% | -32.1% | -34.8% | -48.7% | -81.6% | -129.4% | -320.4% | -2092.4% | — |
| — | +86.6% | +84.1% | +78.2% | +75.7% | +75.2% | +89.1% | +97.7% | — | +86.2% | -135.6% | — | — |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -23.4% | -2.0% | -2.5% | -3.8% | -6.0% | -8.9% | -10.0% | -9.6% | -12.6% | -15.1% | -20.4% | -21.7% | -19.6% |
| — | +77.3% | +75.3% | +60.6% | +52.3% | +41.5% | +51.0% | +55.9% | +35.5% | -18.4% | -196.8% | -104.1% | -531.6% | |
| ROA | -14.1% | -1.2% | -1.5% | -2.4% | -4.1% | -5.7% | -6.1% | -6.2% | -9.2% | -11.6% | -15.7% | -17.1% | -15.7% |
| — | +78.7% | +75.1% | +60.7% | +55.4% | +50.8% | +60.9% | +63.7% | +41.6% | -9.0% | -168.0% | -86.1% | -493.9% | |
| ROIC | -23.4% | -1.6% | -2.1% | -3.6% | -6.1% | -8.9% | -10.9% | -13.6% | -19.6% | -49.5% | -344.0% | -73.9% | -24.8% |
| — | +82.5% | +80.4% | +73.9% | +68.9% | +81.9% | +96.8% | +81.6% | +21.1% | -262.2% | -2864.6% | -6.5% | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 32.8% YoY to 3.74x, tightening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.27 | 0.25 | 0.27 | 0.25 | 0.22 | 0.21 | 0.32 | 0.30 | 0.29 | 0.11 | 0.15 | 0.14 | 0.17 |
| — | +20.3% | -15.5% | -19.2% | -23.9% | +90.6% | +110.4% | +116.0% | +68.8% | -23.8% | +46.4% | +42.2% | +86.2% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.85 | 3.74 | 3.85 | 4.29 | 5.26 | 5.57 | 4.42 | 5.42 | 7.03 | 8.01 | 6.93 | 11.15 | 12.43 |
| — | -32.8% | -12.9% | -20.9% | -25.2% | -30.5% | -36.2% | -51.4% | -43.4% | -49.1% | -52.5% | -32.0% | -41.8% | |
| Quick Ratio | 3.82 | 3.71 | 3.82 | 4.25 | 5.21 | 5.54 | 4.39 | 5.38 | 6.99 | 7.92 | 6.85 | 11.15 | 12.43 |
| — | -33.0% | -13.0% | -20.9% | -25.4% | -30.0% | -35.9% | -51.8% | -43.8% | -49.7% | -53.1% | -32.0% | -41.8% | |
| Interest Coverage | -6.20 | -2.88 | -1.85 | — | -8.64 | -11.04 | -9.57 | -9.06 | -14.78 | -35.35 | -41.37 | -44.67 | -37.56 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying TARS stock.
Tarsus Pharmaceuticals, Inc.'s current P/E is -39.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Tarsus Pharmaceuticals, Inc.'s current operating margin is -15.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Tarsus Pharmaceuticals, Inc.'s business trajectory between earnings reports.