10x Genomics Inc. Class A Common Stock (TXG)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits and sell for a sensible price. 10x Genomics sells instruments, consumables, and software for biological analysis, and its 1,178 employees support a revenue base that was $642.8 million in fiscal year 2025, the year ended 2025-12-31. But the reported figures show the problem: in fiscal year 2023, the year ended 2023-12-31, revenue was $618.7 million and net income was -$255.1 million; in fiscal year 2024, the year ended 2024-12-31, revenue was $610.8 million and net income was -$182.6 million; in fiscal year 2025, revenue was $642.8 million and net income was -$43.5 million. The loss narrowed, but the company still lost money. The instruments and recurring consumables may create switching costs, but with revenue not growing in FairStock's -2.61% measure, I cannot call that a proven moat. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $151.0 million and net income was -$17.9 million, or diluted EPS of -$0.14. That compares with fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $172.9 million and net income was $34.5 million, so the latest quarter was weaker. FairStock's computed Lynch category is 'none' because the company lost money in each of the last four years. Financial health has some support: trailing free cash flow was $121.4 million, debt-to-equity was 0.10, and Altman Z was 26.00. But at the 2026-10-13 close of $71.79, FairStock calculates P/B of 11.38, EV/EBITDA of 283.28, and an FCF yield of 1.3%. Those are not bargain multiples for a business with negative return on equity and negative return on capital employed. The stock's beta of 2.08 and 52-week range of $11.81 to $102.81 show how volatile expectations are. I would want evidence of durable revenue growth and real profits before calling this a value opportunity.

In plain English: 10x Genomics sells lab instruments, consumables, and software that scientists use to study cells. The business has lost money in each of the last four years and in the latest quarter, though it does produce some cash and carries little debt. At $71.79, the price looks expensive compared with the company's current sales and profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer