Veracyte, Inc.

VCYT Healthcare Diagnostics & Research

Veracyte, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $517.1 million, up 16.0% from fiscal 2024. In the quarter to June 2026, revenue grew 15.5%, EPS grew 3,300.0% and free cash flow grew 33.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.

43.12 1.27 −2.86%
Market cap
$3.6B
P/E
29.9×
Fwd P/E
45.1×
Dividend yield
—
F-score
8/9
Altman Z
21.08
Beneish M
−2.66
Dividend safety
n/a
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
5 4 6 5 3 4 5 6 8 8
P/E ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 123.75 50.12
Altman Z-Score
1.18 (0.11) 5.11 21.36 43.59 18.10 12.40 16.66 14.82 21.08
P/S ratio
3.48 3.17 5.06 10.70 22.18 12.74 5.47 5.51 6.79 6.40
P/FCF ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 58.10 47.47 26.13
Altman Z″-Score (non-manufacturers)
(2.19) (6.58) (0.95) 7.80 14.93 12.15 13.61 14.92 10.40 15.66
P/Operating CF
(53.48) (39.20) (379.86) 719.65 1,152.37 331.17 166.32 127.99 123.50 62.92
Beneish M-Score
(1.88) (2.56) (2.82) (1.50) (2.84) (0.28) (2.44) (3.05) (2.56) (2.66)
P/B ratio
3.80 6.12 5.84 5.38 6.19 2.55 1.51 1.91 2.58 2.53
Price to Tangible BV
5.10 9.87 6.98 7.50 7.27 15.05 7.93 7.88 9.24 7.30
EV/Sales
2.98 3.07 4.49 9.40 19.23 11.95 4.87 4.92 6.15 5.60
EV/EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69.86 38.17
EV/Operating CF
(6.93) (9.23) (30.54) (349.92) (232.62) (82.92) 191.64 40.17 36.51 21.26
EV/FCF
(6.02) (8.75) (26.83) (189.60) (180.03) (70.87) (1,424.06) 51.84 42.97 22.88
Quick Ratio
5.90 3.87 6.98 10.23 21.92 3.41 3.56 4.19 4.27 7.63
Current Ratio
6.38 4.48 7.42 10.74 22.39 3.79 3.97 4.66 4.73 8.15
Net Debt/EBITDA
1.30 0.39 2.88 14.43 12.63 2.83 11.80 3.66 (7.37) (5.44)
Debt/Assets
25.26% 32.09% 20.96% 0.62% 0.61% 0.09% 0.00% 0.00% 0.00% 0.00%
Debt/Equity
0.43 0.68 0.32 0.01 0.01 0.00 0.00 0.00 0.00 0.00
Asset Turnover
0.74 0.80 0.92 0.61 0.32 0.27 0.25 0.32 0.37 0.38
Operating CF/Net income
0.89 0.77 0.59 0.26 0.28 0.42 (0.21) (0.59) 3.11 2.05
Capex/Depreciation
(1.54) (0.30) (0.47) (0.65) (0.36) (0.27) (0.33) (0.37) (0.49) (0.53)
Interest Coverage
(10.45) (5.37) (11.33) (22.34) (154.54) (606.69) (20.83) — — —
ROE
(56.59%) (64.05%) (39.32%) (7.89%) (10.57%) (9.96%) (3.37%) (7.02%) 2.17% 5.34%
ROA
(35.58%) (34.50%) (23.08%) (6.37%) (9.53%) (9.19%) (3.12%) (6.55%) 2.00% 4.90%
ROIC
(69.89%) (58.03%) (51.39%) (11.55%) (29.62%) (5.56%) (2.86%) (6.48%) 1.14% 4.03%
Return on Tangible Assets
(42.62%) (60.10%) (24.77%) (7.03%) (9.49%) (38.94%) (17.95%) (30.37%) 7.62% 14.72%
Average Days of Receivables
49.10 64.51 52.24 58.61 57.36 68.94 54.18 40.82 38.10 31.52
Research and Development Expense of Revenue
23.54% 19.29% 16.11% 12.34% 14.64% 13.60% 13.69% 15.87% 15.54% 13.69%
Selling, General and Administrative Expense of Revenue
79.95% 76.92% 70.95% 68.72% 75.86% 82.54% 57.58% 51.99% 46.22% 40.79%
Intangible Assets out of Total Assets
0.15 0.18 0.11 0.25 0.14 0.77 0.75 0.71 0.65 0.61
Share Based Compensation of Revenue
9.80% 9.20% 6.48% 8.15% 11.06% 10.26% 9.02% 9.18% 8.13% 8.43%
Graham Net Nets
0.14 0.05 0.12 0.12 0.13 0.05 0.10 0.11 0.08 0.12
Graham Number
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.52 17.75
Earnings Yield
(14.01%) (13.54%) (5.17%) (0.95%) (1.39%) (2.77%) (2.21%) (3.76%) 0.81% 2.00%
Free Cash Flow Yield
(14.22%) (11.07%) (3.31%) (0.46%) (0.48%) (1.32%) (0.06%) 1.72% 2.11% 3.83%
Revenue per Share
2.26 2.12 2.49 2.61 2.21 3.23 4.14 4.97 5.83 6.58
Operating CF per Share
(0.97) (0.70) (0.37) (0.07) (0.18) (0.47) 0.11 0.61 0.98 1.73
Capex per Share
(0.15) (0.04) (0.05) (0.06) (0.05) (0.08) (0.12) (0.14) (0.15) (0.12)
Free Cash Flow per Share
(1.12) (0.74) (0.42) (0.13) (0.24) (0.54) (0.01) 0.47 0.83 1.61
Cash per Share
2.06 1.00 2.11 3.45 6.56 2.61 2.50 2.98 3.78 5.25
Shareholders Equity per Share
2.07 1.10 2.15 5.19 7.91 16.15 15.03 14.37 15.38 16.66
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
2.07 1.10 2.15 5.19 7.91 16.15 15.03 14.37 15.38 16.66
Free Cash Flow
(32.19) (25.23) (15.39) (5.96) (12.55) (37.00) (1.01) 34.26 63.81 126.63
Working Capital
62.09 41.90 83.89 170.22 358.90 178.95 186.02 224.38 293.63 428.44
Capital Expenditures
(4.21) (1.31) (1.87) (2.73) (2.84) (5.38) (8.55) (9.96) (11.29) (9.68)
Net Current Asset Value
32.17 12.48 56.07 151.93 339.75 151.79 167.41 214.82 248.20 391.93
EV/EBIT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 169.84 50.15
Capex to Sales
0.06 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.02
Price to Operating Income
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 187.64 57.26
Other line items
Depreciation/Fixed assets
0.24 0.45 0.44 0.47 0.88 1.30 1.46 1.30 1.01 0.82
Cash ROIC
(22.29%) (26.18%) (8.41%) (1.49%) (1.62%) (2.90%) (0.08%) 2.72% 4.35% 7.35%
Accounts Receivable Turnover
10.62 6.70 7.11 7.41 6.22 7.33 6.94 8.56 10.26 11.34
Accounts Payable Turnover
6.78 8.98 10.39 15.08 15.23 9.61 9.96 10.57 13.68 23.38
Inventory Turnover
7.03 6.41 7.58 7.16 7.23 9.37 9.47 8.64 7.79 7.31
Average Days of Payables
34.75 49.88 27.76 23.27 27.44 60.64 35.97 35.96 21.35 10.84
Days of Inventory on Hand
49.81 68.92 37.54 68.02 41.00 55.07 43.17 44.81 53.78 48.50
Average Receivables
6.13 10.74 12.94 16.25 18.90 29.96 42.74 42.20 43.45 45.59
Average Payables
3.75 3.14 3.18 2.42 2.72 7.74 12.14 12.43 10.79 6.61
Average Inventory
3.62 4.40 4.36 5.10 5.73 7.94 12.76 15.21 18.94 21.15
Average Assets
88.14 89.85 99.65 197.93 366.19 822.49 1,172.12 1,135.66 1,207.47 1,353.03
Average Common Equity
55.42 48.40 58.49 159.61 330.34 758.87 1,085.86 1,059.65 1,110.03 1,242.77

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