Tenon Medical Inc (TNON) - Net Assets
Based on the latest financial reports, Tenon Medical Inc (TNON) has net assets worth $1.90 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($12.84 Million) and total liabilities ($10.94 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of Tenon Medical Inc to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.90 Million |
| % of Total Assets | 14.76% |
| Annual Growth Rate | N/A |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 340.24 |
Tenon Medical Inc - Net Assets Trend (2019–2025)
This chart illustrates how Tenon Medical Inc's net assets have evolved over time, based on quarterly financial data. See Tenon Medical Inc defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tenon Medical Inc (2019–2025)
The table below shows the annual net assets of Tenon Medical Inc from 2019 to 2025. For live valuation and market cap data, see TNON stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $5.04 Million | -15.59% |
| 2024-12-31 | $5.97 Million | +667.48% |
| 2023-12-31 | $778.00K | -87.56% |
| 2022-12-31 | $6.25 Million | +130.42% |
| 2021-12-31 | $-20.55 Million | -1330.28% |
| 2020-12-31 | $-1.44 Million | +10.97% |
| 2019-12-31 | $-1.61 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tenon Medical Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 7740100700.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $11.00K | 0.22% |
| Other Components | $86.33 Million | 1712.92% |
| Total Equity | $5.04 Million | 100.00% |
Tenon Medical Inc Competitors by Market Cap
The table below lists competitors of Tenon Medical Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DTI Group Ltd
AU:DTI
|
$6.97 Million |
|
Destiny Media Technologies Inc
V:DSY
|
$6.97 Million |
|
ADCORE INC. O.N.
F:ADQ
|
$6.98 Million |
|
Addex Therapeutics Ltd
SW:ADXN
|
$6.98 Million |
|
Encres Dubuit SA
PA:ALDUB
|
$6.97 Million |
|
Lupatech S.A
SA:LUPA3
|
$6.96 Million |
|
Babylon Pump & Power Ltd
AU:BPP
|
$6.96 Million |
|
Signature Resources Ltd
V:SGU
|
$6.96 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tenon Medical Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,971,000 to 5,040,000, a change of -931,000 (-15.6%).
- Net loss of 12,556,000 reduced equity.
- Share repurchases of 1,366,000 reduced equity.
- New share issuances of 6,860,000 increased equity.
- Other factors increased equity by 6,131,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-12.56 Million | -249.13% |
| Share Repurchases | $1.37 Million | -27.1% |
| Share Issuances | $6.86 Million | +136.11% |
| Other Changes | $6.13 Million | +121.65% |
| Total Change | $- | -15.59% |
Book Value vs Market Value Analysis
This analysis compares Tenon Medical Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.88x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | $-251.45 | $0.60 | x |
| 2020-12-31 | $-303.03 | $0.60 | x |
| 2021-12-31 | $-1820.69 | $0.60 | x |
| 2022-12-31 | $61.90 | $0.60 | x |
| 2023-12-31 | $3.43 | $0.60 | x |
| 2024-12-31 | $4.92 | $0.60 | x |
| 2025-12-31 | $0.68 | $0.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tenon Medical Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -249.13%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -318.36%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 2.13x
- Recent ROE (-249.13%) is above the historical average (-397.63%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 0.00% | -950.00% | 0.20x | 0.00x | $-248.71K |
| 2020 | 0.00% | -1335.41% | 0.11x | 0.00x | $-270.79K |
| 2021 | 0.00% | -4405.00% | 0.02x | 0.00x | $-4.99 Million |
| 2022 | -302.58% | -2737.63% | 0.06x | 1.77x | $-19.54 Million |
| 2023 | -2002.70% | -532.14% | 0.46x | 8.16x | $-15.66 Million |
| 2024 | -228.99% | -417.24% | 0.33x | 1.65x | $-14.27 Million |
| 2025 | -249.13% | -318.36% | 0.37x | 2.13x | $-13.06 Million |
Industry Comparison
This section compares Tenon Medical Inc's net assets metrics with peer companies in the Medical Devices industry.
Industry Context
- Industry: Medical Devices
- Average net assets among peers: $1,818,520,110
- Average return on equity (ROE) among peers: -48.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tenon Medical Inc (TNON) | $1.90 Million | 0.00% | 5.77x | $6.97 Million |
| Abbott Laboratories (ABT) | $17.78 Billion | 20.28% | 1.23x | $153.89 Billion |
| Adagio Medical Holdings, Inc Common Stock (ADGM) | $19.91 Million | -270.00% | 1.43x | $15.55 Million |
| Aethlon Medical Inc (AEMD) | $-5.98 Million | 0.00% | 0.00x | $2.51 Million |
| Acutus Medical Inc (AFIB) | $126.58 Million | -80.56% | 0.52x | $903.35K |
| Adapthealth Corp (AHCO) | $280.85 Million | -57.55% | 5.46x | $1.29 Billion |
| 20/20 Biolabs, Inc. Common Stock (AIDX) | $6.89 Million | 30.07% | 0.49x | $6.67 Million |
| Allurion Technologies, Inc. (ALUR) | $-70.49 Million | 0.00% | 0.00x | $7.70 Million |
| Autonomix Medical, Inc. Common Stock (AMIX) | $8.10 Million | -140.88% | 0.21x | $4.44 Million |
| Artivion Inc (AORT) | $17.90 Million | 7.26% | 0.20x | $1.03 Billion |
| Apyx Medical Inc (APYX) | $22.89 Million | 2.69% | 0.23x | $176.29 Million |
About Tenon Medical Inc
Tenon Medical, Inc., a medical device company, engages in the development of implant for the treatment of severe lower back pain in the United States. The company offers Catamaran SI-Joint Fusion System, an invasive inferior-posterior approach to the sacroiliac joint (SI Joint) using a titanium implant for treatment of the most common types of SI Joint disorders that cause lower back pain. It als… Read more