Turnstone Biologics's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Turnstone Biologics (TSBX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Turnstone Biologics's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Turnstone Biologics Corp | - | - | - | Yes |
| Competitors combined (54) | ||||
| High-Confidence Competitors (1) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TSBX Stock Performance relative to its Competitors
TSBX Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Moderna Inc | 282.9% | Outperformed |
| 2 | Iovance Biotherapeutics inc | 282.9% | Outperformed |
| 3 | Revolution Medicines Inc | 282.9% | Outperformed |
| 4 | Immunitybio inc | 282.9% | Outperformed |
| 5 | Cullinan Therapeutics Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Turnstone Biologics's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Turnstone Biologics Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Turnstone Biologics Corp | 8.21 | - |
| Merck and Co Inc | 359,088.60 | 66,569.00 |
| Amgen Inc | 229,301.44 | 38,095.00 |
| Gilead Sciences Inc | 185,269.15 | 30,457.00 |
| Bristol myers Squibb Company | 127,795.20 | 49,186.00 |
| Regeneron Pharmaceuticals Inc | 80,376.62 | 15,534.70 |
| SUBTOTAL | 1,198,080.20 | 210,684.35 |
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Sources: Turnstone Biologics Corp's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Turnstone Biologics Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Turnstone Biologics's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Instil Bio Inc | Named by the company | 85% |
| Werewolf Therapeutics Inc | Named by the company | 85% |
| Sana Biotechnology Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Turnstone Biologics's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Turnstone Biologics's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Merck and Co Inc | Pharmaceutical segment 88.88 % |
| Amgen Inc | Reportable 100.00 % |
| Exelixis Inc | Reportable 100.00 % |
| Immunitybio inc | Reportable 100.00 % |
| Iovance Biotherapeutics inc | Single reportable segment 100.00 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Turnstone Biologics's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Turnstone Biologics Corp | 8 | - | -3,371,429 |
| Merck and Co Inc | 359,089 | 887,587 | 42,267 |
| Amgen Inc | 229,301 | 2,930,385 | 672,538 |
| Gilead Sciences Inc | 185,269 | 1,791,588 | -190,588 |
| Bristol myers Squibb Company | 127,795 | 1,513,415 | 285,354 |
| Regeneron Pharmaceuticals Inc | 80,377 | 1,008,092 | 280,902 |
| PEERS TOTAL | 1,198,072 | 1,203,360 | 63,734 |
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Turnstone Biologics's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Merck and Co Inc | EMEA 23.60 % |
| Gilead Sciences Inc | United States 70.78 % |
| Bristol myers Squibb Company | United States 67.79 % |
| Exelixis Inc | United States 91.44 % |
| Immunitybio inc | United States 98.99 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Turnstone Biologics's Position in Industry Market Structure
Market-capitalization share and concentration across all 159 companies in Turnstone Biologics's industry classification, broader than the peer set above. Market cap in millions of $.Turnstone Biologics ranks #0 of 159 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,317, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Amgen Inc | 229,301 | 26.04 % |
| 2 | Gilead Sciences Inc | 185,269 | 21.04 % |
| 3 | Moderna Inc | 76,643 | 8.70 % |
| 4 | Argenx Se | 63,316 | 7.19 % |
| 5 | Revolution Medicines Inc | 1,234 | 5.2% |
| 6 | Biogen Inc | 1,234 | 5.2% |
| 7 | Biontech Se | 1,234 | 5.2% |
| 8 | Exelixis Inc | 1,234 | 5.2% |
| 9 | Neurocrine Biosciences Inc | 1,234 | 5.2% |
| 10 | Halozyme Therapeutics Inc | 1,234 | 5.2% |
| 0 | Turnstone Biologics Corp | 8 | 0.00 % |
Market cap and industry share for the rest of Turnstone Biologics's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2025-08-08.
Turnstone Biologics's Valuation vs Competitive Position
Valuation multiples vs the Biotechnology & Pharmaceuticals industry average (95 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Biotechnology & Pharmaceuticals industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 26.7x | - |
| EV / EBITDA | - | 21.3x | - |
| P/B | 0.3x | 5.1x | -4.9x |
| Return on Equity | -171.86 % | industry aggregate | -181.59 % |
| Return on Invested Capital | -80.21 % | -5.98 % (avg) | -74.23 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Turnstone Biologics's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,317 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Turnstone Biologics's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Turnstone Biologics's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Turnstone Biologics's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 181.6 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- Industry revenue growing at a healthy 10.0% median pace.
- A meaningful share of tracked competitors (44.20 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-6.3% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Turnstone Biologics's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Turnstone Biologics Corp | 2.65 | 3.76 | - |
| Merck and Co Inc | 0.40 | 1.46 | 1.01 |
| Amgen Inc | 0.46 | 1.26 | 5.86 |
| Gilead Sciences Inc | - | 1.54 | 1.27 |
| Bristol myers Squibb Company | 0.49 | 1.35 | 2.31 |
| Regeneron Pharmaceuticals Inc | 0.57 | 3.74 | 0.06 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Turnstone Biologics's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Turnstone Biologics Corp | Q2 2025 | - | - |
| Merck and Co Inc | Q2 2026 | +5.1 % | - |
| Amgen Inc | Q2 2026 | +9.5 % | +65.9 % |
| Gilead Sciences Inc | Q2 2026 | +10.2 % | - |
| Bristol myers Squibb Company | Q2 2026 | +5.7 % | +152.6 % |
| Regeneron Pharmaceuticals Inc | Q2 2026 | +16.7 % | -6.8 % |
| PEERS TOTAL | +7.9 % | - |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Turnstone Biologics's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Turnstone Biologics Corp | Q2 2025 | - | - |
| Merck and Co Inc | Q2 2026 | +23.6 % | +16.9 % |
| Amgen Inc | Q2 2026 | -6.6 % | +39.0 % |
| Gilead Sciences Inc | Q2 2026 | +5.2 % | +30.8 % |
| Bristol myers Squibb Company | Q2 2026 | +10.5 % | -15.5 % |
| Regeneron Pharmaceuticals Inc | Q2 2026 | +109.2 % | +9.7 % |
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Turnstone Biologics's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Turnstone Biologics Corp | - | - | - |
| Merck and Co Inc | 2.42% | 3.24% | 6.59% |
| Amgen Inc | 9.48% | 13.08% | 89.32% |
| Gilead Sciences Inc | - | - | - |
| Bristol myers Squibb Company | 10.27% | 13.58% | 46.65% |
| Regeneron Pharmaceuticals Inc | 10.60% | 11.83% | 13.81% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Turnstone Biologics's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Turnstone Biologics Corp | - | - |
| Merck and Co Inc | 117.24 | 5.39 |
| Amgen Inc | 26.18 | 6.02 |
| Gilead Sciences Inc | - | 6.08 |
| Bristol myers Squibb Company | 13.74 | 2.60 |
| Regeneron Pharmaceuticals Inc | 18.78 | 5.17 |
| PEERS AVERAGE | 107.83 | 5.69 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.