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

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