TELIX PHARMACEUTICALS LIMITED (TLX)
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TLX

TLX - TELIX PHARMACEUTICALS LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: December
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 11.42
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Telix Pharmaceuticals is a global biopharmaceutical company developing and commercialising diagnostic and therapeutic radiopharmaceuticals, principally for cancer and rare diseases.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.08

23 Sep
2026

-0.710

OPEN

$16.82

-4.23%

HIGH

$16.82

3,343,138

LOW

$15.84

TARGET
$23.138 43.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
TLX: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 3.3 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 480.5 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-3.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,246.6 M
Book Value Per Share xxxxxxxxxxxxxxx183.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-26.8 M
Net Profit Margin xxxxxxxxxxxxxxx-0.89 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-1.86 %
Return on Invested Capital xxxxxxxxxxxxxxx-0.91 %
Return on Assets xxxxxxxxxxxxxxx-0.67 %
Return on Equity xxxxxxxxxxxxxxx-1.86 %
Return on Total Capital xxxxxxxxxxxxxxx2.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-85.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx28 M
Long Term Debt xxxxxxxxxxxxxxx672 M
Total Debt xxxxxxxxxxxxxxx700 M
Goodwill - Gross xxxxxxxxxxxxxxx298 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx213 M
Price To Book Value xxxxxxxxxxxxxxx6.09

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx86.8 M
Capex % of Sales xxxxxxxxxxxxxxx6.97 %
Cost of Goods Sold xxxxxxxxxxxxxxx584 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx635 M
Research & Development xxxxxxxxxxxxxxx266 M
Investments - Total xxxxxxxxxxxxxxx56 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

24/09/2026

-1

No Rating

-

Post the recent US FDA approval of Pixclara and the potential total addressable market upside from BiPass, Morgan Stanley lifts earnings forecasts for Telix Pharmaceuticals by 5% for FY28 and 7% in the outer years.

Management pointed out at its US R&D day the size of the US addressable market as around 21k scans for progression in glioblastoma patients, around 16.8k scans for radiation planning and around 100k scans for the characterisation of brain metastasis.

Telix has received FDA clearance to start Phase 3 trial of Pixclara in brain metastases. The broker forecasts US revenue of around US$150m for Pixclara by 2035.

For BiPass, the analyst forecasts US revenue of around US$300m by 2035.

Morgan Stanley is acting as financial adviser to Telix and is unable to provide a rating or target (research restriction). Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.67 cents.
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -2.89 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

23/09/2026

1

Buy

$21.00

30.60%

Jarden maintains a Buy rating for Telix Pharmaceuticals with a $21.00 target price following the announcement of a proposed "merger" with Isotope Technologies Munich SE.

The transaction involves an upfront payment of US$1.65bn, alongside US$700m in future consideration tied to regulatory milestones and sales targets.

The analyst views the deal as a sensible strategic move to transition the business from a pureplay theranostics company into a vertically integrated operator, providing greater control over production and supply to improve global delivery capabilities.

Commentary highlights that assessing valuation remains difficult given the pro forma combined group is not yet profitable, with the pathway to a positive EBITDA contribution relying on up to US$50m in synergies after two years and an internal cost-reduction program.

Jarden makes no earnings revisions and excludes the acquired entity from current forecasts.
Access Extra Coverage Research History >

TLX STOCK CHART

FNArena News on TLX

1
Telix Aims For A Strategic Isotope Supply Chain

10:00 AM - Australia
2
Australian Broker Call *Extra* Edition – Sep 23, 2026

Sep 23 2026 - Daily Market Reports
3
Rudi’s View: Australia’s Most Unloved Buy-Rated Stocks

Sep 23 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Sep 21, 2026

Sep 21 2026 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 18-09-26

Sep 21 2026 - Weekly Reports

Latest Pharmaceuticals & Biotech/Lifesciences News

1
Telix Aims For A Strategic Isotope Supply Chain

10:00 AM - Australia
2
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Aug 19 2026 - Australia
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Jul 22 2026 - Australia
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Apr 10 2026 - Australia
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Jan 22 2026 - Australia
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