Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Tenon MedicalTNON -4.79%42 PS Ratio is 0.44 as of Jul. 14, 2026, which is 65% below its 10-year median of 1.24. GuruFocus rates TNON with a GF Score™ of 42/100 and a GF Value™ of $0.35 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 805 Medical Devices & Instruments companies, Tenon Medical ranks better than 92.8% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Tenon Medical's share price is $0.2147.
Tenon Medical's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 was $0.49. Hence, Tenon Medical's PS Ratio for today is 0.44.
Good Sign:
Tenon Medical Inc stock PS Ratio (=0.46) is close to 1-year low of 0.46.
The historical rank and industry rank for Tenon Medical's PS Ratio or its related term are showing as below:
TNON'
s PS Ratio Range Over the Past 10 Years
Min: 0.19 Med: 1.24 Max: 2110.49
Current: 0.45
During the past 6 years, Tenon Medical's highest PS Ratio was 2110.49. The lowest was 0.19. And the median was 1.24.
TNON's PS Ratio is ranked better than 92.8% of 805
companies
in the Medical Devices & Instruments industry
Industry Median: 2.91
vs TNON: 0.45
Tenon Medical Inc revenue per share has been in decline over the past 3 years.
During the past 12 months, the average Revenue per Share Growth Rate of Tenon Medical was -85.50% per year.
During the past 3 years, the average Revenue per Share Growth Rate was -57.40% per year.
During the past 5 years, the average Revenue per Share Growth Rate was 18.20% per year.
During the past 6 years, Tenon Medical's highest 3-Year average Revenue per Share Growth Rate was 245.00% per year. The lowest was -57.40% per year. And the median was 33.20% per year.
Back to Basics: PS Ratio
Tenon Medical (NAS:TNON) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Tenon Medical PS Ratio Related Terms
Tenon Medical PS Ratio Historical Data
* Premium members only.
The historical data trend for Tenon Medical's PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Devices subindustry, Tenon Medical's PS Ratio, along with its competitors' market caps and PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tenon Medical PS Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Tenon Medical's PS Ratio distribution charts can be found below:
* The bar in red indicates where Tenon Medical's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Tenon Medical's Share Price of today is $0.2147. Tenon Medical's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.49.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
Tenon Medical (TNON) has a PS Ratio of 0.44 as of Jul. 14, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Tenon Medical and its competitors. This is 65% below median its historical median of 1.24. Over the past decade, Tenon Medical's PS Ratio has ranged from 0.19 to 2,110.49. According to the industry distribution chart, Tenon Medical ranks #58 out of 805 companies in the Medical Devices & Instruments industry, placing it in the top 7.2%.
Is Tenon Medical's PS Ratio too high?
Tenon Medical's current PS Ratio of 0.44 is 65% below median its 10-year median of 1.24. Over the past 10 years, this metric has ranged from a low of 0.19 to a high of 2,110.49. The Medical Devices & Instruments industry median PS Ratio is 2.91. Tenon Medical's value of 0.44 is 84.9% below this industry median. Based on the distribution chart, Tenon Medical ranks #58 out of 805 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Tenon Medical has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tenon Medical's PS Ratio compare to XAIR and VVOS?
According to the Medical Devices & Instruments industry distribution chart, Tenon Medical ranks #58 out of 805 companies for PS Ratio. This places Tenon Medical in the top 7% of its industry — outperforming the majority of peers. The industry median PS Ratio is 2.91. Tenon Medical's value of 0.44 is 84.9% below this benchmark. Historically, Tenon Medical's own PS Ratio has ranged from 0.19 to 2,110.49 over the past decade. While the company's 10-year median is 1.24 vs. the industry median of 2.91, Tenon Medical has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PS Ratio for a Medical Devices & Instruments company?
The median PS Ratio among Medical Devices & Instruments companies is 2.91, based on 805 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenon Medical's current PS Ratio of 0.44 is 84.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Tenon Medical and its competitors. For the Medical Devices & Instruments industry, the median PS Ratio is 2.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenon Medical's current PS Ratio is 0.44, which is 65% below median its own 10-year median of 1.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tenon Medical stock overvalued right now?
Based on GuruFocus' analysis, Tenon Medical (TNON) is currently considered Possible Value Trap. The stock's GF Value™ is $0.35, compared to a current price of $0.21 — trading 38.7% below its estimated fair value. The current PS Ratio is 0.44, which is 65% below median its 10-year median of 1.24 and 84.9% below the Medical Devices & Instruments industry median of 2.91. Tenon Medical's overall GF Score™ is 42/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Tenon Medical (TNON), the current PS Ratio is 0.44 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tenon Medical (TNON) Overvalued in 2026?
Based on GuruFocus' analysis, Tenon Medical stock appears to be undervalued.
The current stock price of $0.21 is trading 38.7% below its estimated GF Value™ of $0.35.
GuruFocus considers Tenon Medical to be Possible Value Trap.
Key valuation signals for TNON:
PS Ratio: 0.44 (65% below median its 10-year median of 1.24)
GF Value™: $0.35 vs. price of $0.21 (38.7% below fair value)
Industry Position: 84.9% below the Medical Devices & Instruments median (#58 of 805)
No single metric tells the full story. See the TNON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tenon Medical Inc is a medical device company that has minimally invasive approach to the sacroiliac joint (the SI Joint) using a single, robust, titanium implant for the treatment of the common types of SI Joint disorders that cause lower back pain. The Company is focused on three commercial opportunities; Primary SI Joint procedures, Revision procedures of failed SI Joint implants, and SI Joint fusion adjunct to a spine fusion construct. The company derives the majority of its revenue from sales of The Catamaran System to a limited number of clinicians.
42GF Score
Get the complete analysis for TNON
PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TNON has been successfully added to your 
