GLNG vs TNGX: How Golar LNG and Tango Therapeutics Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. GLNG and TNGX share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined GLNG and TNGX exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Golar LNG converts old LNG carriers into floating liquefaction plants and charters them to gas producers who have stranded reserves and no onshore terminal. Two units are in service: FLNG Hilli Episeyo (~2.4 MTPA), which has been liquefying gas offshore Cameroon since 2018, and FLNG Gimi (~2.4 MTPA), which began a 20-year lease to BP at the Greater Tortue Ahmeyim field offshore Mauritania and Senegal in June 2025. A third and larger unit, MKII FLNG (~3.5 MTPA), is being converted for a 20-year charter to Southern Energy S.A. in Argentina with startup guided to the second half of 2028. The Hilli is separately contracted for 20 years to a Pan American Energy led consortium in the Gulf of San Matias offshore Rio Negro province, liquefying Vaca Muerta shale gas, with first exports targeted within 2027 and headline revenue of about ~$13.7 billion over the term. Golar also sold down its LNG shipping and downstream businesses in prior years to become a pure-play FLNG operator, and it employs roughly ~500 people.

Full GLNG guide

Tango Therapeutics works on synthetic lethality: finding drugs that kill cancer cells carrying a specific missing gene while leaving normal cells intact. Its central target is MTAP deletion, a defect present in roughly 10% to 15% of all cancers and a larger share of pancreatic and lung tumors. The lead asset is vopimetostat (formerly TNG462), an MTAP-selective PRMT5 inhibitor taken once daily, and the second clinical asset is TNG456, a brain-penetrant PRMT5 inhibitor aimed at glioblastoma. Two earlier candidates, TNG908 and TNG961, were dropped as the company concentrated resources. A discovery collaboration with Gilead was truncated during 2025, which is why the income statement shows ~$62 million of collaboration revenue in 2025 and exactly zero in the first quarter of 2026. Tango had 137 employees as of its most recent disclosure and is run by Malte Peters, who replaced founder Barbara Weber; Weber's role as Executive Chair ended in early August 2026.

Full TNGX guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• GLNG drivers: Argentina turning into an LNG exporter; A backlog that is contracted, not forecast.
• TNGX drivers: The front-line pancreatic Phase 3; Two readouts in 2026 that are not pancreatic.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Three assets carry the entire company, so a single mechanical failure, drydock overrun or force majeure event is a material earnings event rather than a rounding error. For TNGX, the headline number rests on 12 evaluable patients, only 9 of whose responses were confirmed, in an uncontrolled dose-escalation arm; response rates in small early cohorts routinely compress when a randomized trial adds a control group and a broader population.

Pick GLNG if you believe its drivers more; TNGX if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the GLNG and TNGX guides.

GLNG. The trailing multiple reflects a company whose largest contracted asset has not started operating, so current earnings understate the contracted run rate and the P/E overstates the price paid for it. First-quarter 2026 adjusted EBITDA of ~$105.6 million annualizes far below the roughly ~$400 million the MKII charter alone is guided to produce from the second half of 2028. Second-quarter 2026 results are due August 13, 2026, and the Hilli transition timeline is the line item worth reading first.

TNGX. No conventional multiple applies, because there is no recurring revenue and the ~$57 million trailing figure is the tail of a collaboration that has already ended. Stripping out roughly $950 million of pro forma cash leaves an enterprise value near $3.7 billion, which is what the market is assigning to vopimetostat, TNG456 and the discovery platform combined. Price to book of roughly 10x is a reminder that the balance sheet explains only a tenth of the quote.

Headline figures (approximate, August 2026): GLNG shows revenue (ttm) ~$469 million, up about ~82% year over year, net income (ttm) ~$141 million, diluted eps (ttm) ~$1.28, market capitalization ~$5.1 billion at a share price near ~$50; TNGX shows revenue (ttm) ~$57M, all Gilead collaboration recognition; ~$0 in each of the last two reported quarters, net loss (q1 2026) ~$45.5M, or ~$0.32 per share, r&d expense ~$33.5M in Q1 2026; ~$132M in FY 2025, cash and investments ~$380M at March 31, 2026; roughly ~$950M pro forma after the June raise.

GLNG and TNGX are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined GLNG and TNGX exposure against your real portfolio. It is not an investment adviser.