Is the business good?
How good a business is TXG?
10x Genomics, Inc. earns −11% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−11%
Return on invested capital · cost of capital 9.0% · 20 points below what the capital costs: growth destroys value
- Operating margin
- −6.1%
Operating margin · Health Information Services median 2.3% · 12 months to Q1 2026
- Share count, year on year
- +4.6%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 36%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −179% |
| FY2021 | −11% |
| FY2022 | −33% |
| FY2023 | −43% |
| FY2024 | −32% |
| FY2025 | −9.5% |
Details›
- Gross margin12 months to Q1 2026
- 70%
- Operating margin12 months to Q1 2026
- −6.1%
- Net margin12 months to Q1 2026
- −3.5%
- Free cash flow margin
- 19%
- R&D as % of revenue
- 36%
- Revenue, trailing twelve months
- $639M
- Free cash flow, trailing twelve months
- $122M
- Net income, trailing twelve months
- −$23M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Health Information Services
Ranks #2 of 14 by Smart Score