stockrow
Friday 6 November 2026
Export CAI’s income statement to Excel — free account
Caris Life Sciences,�Inc.
Caris Life Sciences,�Inc.’s revenue for fiscal 2025 (year ended December 2025) was $812.0 million, up 97.0% from fiscal 2024.
- Revenue
- +27.0%
- EPS
- −40.3%
- Free cash flow
- −140.2%
- Total debt
- +4.46%
Quarter to September 2026, against a year earlier
24.54
1.49
−5.72%
Follow CAI
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 306 | 412 | 812 | 1,048 | +62.9% | 1,030 | 1,228 | 1,423 | +20.6% | |
| Gross margin, % | — | — | — | — | — | — | — | 29.17 | 43.37 | 66.40 | 0.00 | +37.2 pt | ||||||
| EBT | — | — | — | — | — | — | — | (341) | (282) | (68) | 98 | (55.3%) | ||||||
| EBT margin, % | — | — | — | — | — | — | — | (111.53) | (68.38) | (8.38) | 9.31 | +103.1 pt | ||||||
| Net income | — | — | — | — | — | — | — | (341) | (282) | (68) | 96 | (55.3%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 8.76 | 11.61 | 4.86 | 3.69 | (25.5%) | |||||
| Earnings | — | — | — | — | — | — | — | (13.24) | (10.66) | (3.22) | 0.34 | (50.7%) | ||||||
| Cash flow | — | — | — | — | — | — | — | (7.90) | (6.91) | 0.50 | 0.30 | n/m | ||||||
| Capex | — | — | — | — | — | — | — | (0.64) | (0.24) | (0.10) | 0.00 | (61.0%) | ||||||
| Free cash flow | — | — | — | — | — | — | — | (8.54) | (7.15) | 0.40 | 0.30 | n/m | ||||||
| Book value | — | — | — | — | — | — | — | 0.00 | (70.40) | 3.45 | 0.00 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 35 | 35 | 167 | 283 | +118.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 77.71 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 0.00 | 9.38 | 7.15 | 3.1 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 13.19 | 12.66 | 4.4 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 0.00 | 8.86 | 6.77 | 3.0 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (4.55) | (4.55) | 107.53 | 180.53 | 32.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | (276) | (245) | 83 | 84 | n/m | |||||
| Capex | — | — | — | — | — | — | — | (22) | (8) | (16) | (45) | (14.6%) | ||||||
| Free cash flow | — | — | — | — | — | — | — | (298) | (254) | 67 | 84 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 50 | 871 | 908 | +1,630.7% | |||||
| Net debt | — | — | — | — | — | — | — | — | 312 | (421) | 393 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | (2,499) | 577 | 592 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | (220.09) | (73.22) | 8.58 | (73.2) pt | |||||
| ROIC | — | — | — | — | — | — | — | 0.00 | 0.00 | 18.05 | 22.24 | +18.1 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | 0.00 | 55.99 | 0.00 | +56.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 1,769 | 1,846 | — | +4.4% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.00 | 0.23 | 0.44 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Business profile
Caris Life Sciences,�Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MDGL Madrigal Pharmaceuticals, Inc. | $9.3B | — (loss-making) | — (loss-making) | +50.13% (above 0%: growing) | n/m | +53.47% (above 0%: growing) | 91.23% | 12.98% | Compare |
| SYRE Spyre Therapeutics, Inc. | $9.2B | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −108.79% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| KRYS Krystal Biotech, Inc. | $8.9B | 39.2× | 45.7× | +30.21% (above 0%: growing) | −22.26% (below 0%: shrinking) | +137.79% (above 0%: growing) | 94.07% | 55.87% | Compare |
| TGTX TG Therapeutics, Inc. | $8.9B | 19.1× | 62.4× | +70.27% (above 0%: growing) | −73.68% (below 0%: shrinking) | +427.05% (above 0%: growing) | 82.86% | 9.02% | Compare |
| PTGX Protagonist Therapeutics, Inc. | $8.8B | 111× | 31.2× | +3,749.17% (above 0%: growing) | n/m | +839.65% (above 0%: growing) | 100.00% | 74.37% | Compare |
| IBRX ImmunityBio, Inc. | $8.5B | — (loss-making) | — (loss-making) | +93.91% (above 0%: growing) | n/m | +13.38% (above 0%: growing) | 99.42% | (120.41%) | Compare |
| TWST Twist Bioscience Corporation | $7.9B | — (loss-making) | — (loss-making) | +23.24% (above 0%: growing) | n/m | −7.23% (below 0%: shrinking) | 52.76% | (30.65%) | Compare |
| CYTK Cytokinetics, Incorporated | $7.7B | — (loss-making) | — (loss-making) | +2,356.46% (above 0%: growing) | n/m | −6.73% (below 0%: shrinking) | 0.00% | (351.34%) | Compare |
| CAI Caris Life Sciences,�Inc. | $7.4B | 77.7× | 254× | +26.99% (above 0%: growing) | −40.33% (below 0%: shrinking) | −140.21% (below 0%: shrinking) | 0.00% | 7.01% | |
| Median of peers | $8.8B | 39.2× | 45.7× | +60.20% | — | +33.43% | 87.05% | 4.51% |
From the latest earnings call
- CEO David Dean Halbert said Caris expanded its sales organization and invested in laboratory capacity ahead of demand, while therapy selection volume grew in the third quarter.
- CFO Luke Power said Caris would introduce minimal residual disease testing to select customers while working through reimbursement, rather than launch broadly at first.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
54.39%
Held by the ten largest
36.12%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Fidelity (FMR) | 30.92m | 10.94% | +138.29k |
| J. H. Whitney Equity Partners VI, LLC | 11.26m | 3.98% | −7.00m |
| COATUE MANAGEMENT LLC | 9.82m | 3.48% | 0.00 |
| Vanguard | 9.28m | 3.28% | +2.07m |
| BRAIDWELL LP | 8.26m | 2.92% | +246.59k |
| Sixth Street Partners Management Company, L.P. | 7.33m | 2.59% | −7.06m |
| PointState Capital LP | 6.83m | 2.42% | −531.61k |
| JPMorgan Chase | 6.56m | 2.32% | +3.10m |
| T. Rowe Price | 6.28m | 2.22% | −3.68m |
| BlackRock | 5.54m | 1.96% | +679.69k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 23 April 2026
Ownership
Directors and executive officers, together
50.00%
David Dean Halbert
43.90%
FMR LLC
10.80%
Entities affiliated with Sixth Street
6.90%
Entities affiliated with J.H. Whitney
6.50%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Caris Life Sciences,�Inc. (CAI) Latest News
5 Nov
4 Nov
22 Sep
18 Sep
6 Aug
5 Aug
17 Jul
14 Jul
CAI metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Shares outstanding
- Book value per share
Caris Life Sciences is a precision medicine company focused initially on cancer. It analyzes molecular information from blood and tissue to help physicians understand a patient’s cancer and select treatments. It also supplies research and data services to biopharma companies and academic researchers. Founded in 2008, Caris is led by founder and chief executive David Dean Halbert.
Its MI Profile platform analyzes tumor tissue, including through MI Cancer Seek, a test approved by the FDA for certain companion diagnostic and tumor profiling uses. A companion diagnostic helps identify patients who may benefit from particular targeted treatments. Caris Assure analyzes blood samples for therapy selection and produces a report for oncologists. Its blood-based approach also separates some mutations arising in blood cells from tumor-derived mutations that could otherwise complicate results.