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10x Genomics

TXG on Nasdaq. 10x Genomics sells instruments, consumables and software for studying biology to researchers and drug companies. Market value $1.3bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Capital spending looks too small to be complete, so we leave free cash flow out.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
n/a

We could not compute this from the filings.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 40 of 100. Price score: 16 of 100. Our list needs 70 on quality and 60 on price.

$80.66 a share, 623% above its 1-year low

Over the past year the price has ranged from $11.16 to $102.81.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.2
-0.1
-0.0
n/a
20212022202320242025
Revenue
$490m$516m$619m$611m$643m
Operating margin
-10.7%-32.5%-42.9%-31.9%-9.5%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.11bn0.12bn0.12bn0.12bn0.13bn

Health checks

  • Free cash flow positive0 of 4 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)3 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • DebtUnknown
  • Revenue growth, five yearsStrong, 16.6% a year
  • Buying back its own sharesNo, 13% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $151 million last quarter, down 13% on a year ago.
  • A loss of $18 million, after a profit of $35 million a year ago.
  • It loses 14 cents on each $1 of sales, compared with 16 cents a year earlier.
  • 4% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in 1 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$152m
December 2024$165m
March 2025$155m
June 2025$173m
September 2025$149m
December 2025$166m
March 2026$151m
June 2026$151m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$36m
December 2024-$49m
March 2025-$34m
June 2025$35m
September 2025-$27m
December 2025-$16m
March 2026-$13m
June 2026-$18m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
13 February 2026
Next quarterly (estimated, 10-Q)
6 November 2026

Who owns it

2 long-term investors we follow own it, up from 1 last quarter. 391 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

9 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 6 sold $17m, $10m of it under preset trading plans.

  • SULIMAN SHEHNAAZ
    Director
    Sold
    under a preset trading plan
    Date
    22 September 2026
    Shares
    5,723
    Price
    $81.19
    Value
    $464,668
  • Saxonov Serge
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    22 September 2026
    Shares
    25,000
    Price
    $81.22
    Value
    $2m
  • Taich Adam
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    9 September 2026
    Shares
    46,388
    Price
    $64.57
    Value
    $3m
  • STUELPNAGEL JOHN R
    Director
    Sold
    Date
    3 September 2026
    Shares
    20,000
    Price
    $61.75
    Value
    $1m
  • Saxonov Serge
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    26 August 2026
    Shares
    10,486
    Price
    $63.69
    Value
    $667,901
  • Saxonov Serge
    Chief Executive Officer, Director
    Sold
    Date
    24 August 2026
    Shares
    18,545
    Price
    $63.02
    Value
    $1m
  • Taich Adam
    Chief Financial Officer
    Sold
    Date
    24 August 2026
    Shares
    17,166
    Price
    $63.02
    Value
    $1m
  • Hindson Benjamin J.
    See Remarks, Director
    Sold
    Date
    24 August 2026
    Shares
    13,818
    Price
    $63.02
    Value
    $870,860
  • SULIMAN SHEHNAAZ
    Director
    Sold
    under a preset trading plan
    Date
    24 August 2026
    Shares
    2,207
    Price
    $63.65
    Value
    $140,478
  • Teichmann Sarah A.
    Director
    Sold
    under a preset trading plan
    Date
    14 August 2026
    Shares
    2,273
    Price
    $57.15
    Value
    $129,902

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.