VCYT Healthcare

Veracyte, Inc.

$50.29+2.63%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Healthcare
Industry: Diagnostics & Research
Country: United States
Market cap: 4.0B USD
Enterprise value: 3.6B USD
Full-time employees: 755

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: its share price swings more than most peers’ (beta 1.93 vs a peer median of 0.63)bigger price swings (beta 1.93 vs peers 0.63)
About average: valuation

Ranks #110 of 1,157 healthcare companies (top 10%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 12% from December 2022 to July 2026.
Veracyte had 12% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Veracyte had 12% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Operating margin at a 6-year high. 11% in 2025, the best of the last 6 years.
Veracyte kept 11% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $117M in 2020 to $517M in 2025.
Veracyte's fiscal-year revenue rose in each of the five years to 2025, from $117M to $517M.
Profit is backed by cash. Free cash flow is 145% of reported profit.
Veracyte's free cash flow is 145% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

72/ 100

Oct 5 73 → Nov 4 72 (-1)

Valuation

Is the price right?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.8%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.92Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.21Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield4.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield34.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.7%

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth326.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 9.28Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth19.6%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.63Sector median: 0.0584 · MAD: 0.0840

Revenue growth17.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.15Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

75/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 4.5 points to 18.8%

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin18.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.97Sector median: 0.0706 · MAD: 0.1217

Return on assets7.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.13Sector median: 0.0166 · MAD: 0.0537

Return on invested capital7.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.29Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin71.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity8.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 71 → 72

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.93

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.85Sector median: 0.6250 · MAD: 0.3380

Current ratio9.16×

SEC filings · latest balance sheetReported value33% base weight · Z-score 4.75Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.03×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.94Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Veracyte

Is Veracyte getting weaker?: Its latest SEC filing (Jul 31, 2026) got stronger: operating margin rose 4.5 points to 18.8%. Its overall score is unchanged at 72/100 since Oct 28, 2026.
How is Veracyte valued vs its peers?: Priced about in line with its peers. Valuation scores 51/100 against 1,393 healthcare peers.
Is Veracyte growing?: Yes, faster than most of its peers. Growth scores 91/100 against 1,393 healthcare peers. Earnings per share growth 326.2% vs a peer median of 9.8% (stronger than 97% of peers).Earnings per share growth 326.2% vs peers 9.8% (stronger than 97% of peers).
How profitable is Veracyte?: More profitable than most of its peers. Profitability scores 75/100 against 1,393 healthcare peers. Return on assets 7.7% vs a peer median of 1.7% (stronger than 85% of peers).Return on assets 7.7% vs peers 1.7% (stronger than 85% of peers).
How risky is Veracyte?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 9.16× vs a peer median of 2.59× (stronger than 86% of peers).Current ratio 9.16× vs peers 2.59× (stronger than 86% of peers). Beta 1.93 vs a peer median of 0.63 (weaker than 94% of peers).Beta 1.93 vs peers 0.63 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 4.5 points to 18.8%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	541.7M USD	561.9M USD	+3.7%
Net income (12 months)	88.1M USD	114.5M USD	+30.1%
Operating margin	14.3%	18.8%	+4.5 pts
Free cash flow (12 months)	155.3M USD	166.0M USD	+6.9%
Cash	263.1M USD	299.5M USD	+13.8%
Shares outstanding	79.8M	80.4M	+0.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Diagnostics & Research · 26 companies

Valuations in Diagnostics & Research are within their usual range since Nov 2018.

53% of months since Nov 2018 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +109% vs the whole market, against a usual +111%.

Nov 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	—	59.2%	63.6%	66.9%	70.1%	▲ 3.2 pts
Operating margin	-37.3%	-13.9%	-23.8%	3.6%	11.2%	▲ 7.6 pts
Net margin	-34.4%	-12.3%	-20.6%	5.4%	12.8%	▲ 7.4 pts
Return on assets (ROA)	-6.4%	-3.2%	-6.7%	1.9%	4.7%	▲ 2.9 pts
Return on equity (ROE)	-6.9%	-3.4%	-7.1%	2.1%	5.1%	▲ 3.0 pts
Free cash flow margin	-16.9%	-0.3%	9.5%	14.3%	24.5%	▲ 10 pts
Current ratio	3.79×	3.97×	4.66×	4.73×	8.15×	▲ 72%
Quick ratio	3.61×	3.74×	4.40×	4.46×	7.81×	▲ 75%
Debt to equity	0.00×	0.00×	—	—	—	—
Interest coverage	—	—	—	—	—	—

VCYT price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: its share price swings more than most peers’ (beta 1.93 vs a peer median of 0.63)bigger price swings (beta 1.93 vs peers 0.63)

About average: valuation

Ranks #110 of 1,157 healthcare companies (top 10%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 12% from December 2022 to July 2026.

Veracyte had 12% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Veracyte had 12% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Operating margin at a 6-year high. 11% in 2025, the best of the last 6 years.

Veracyte kept 11% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $117M in 2020 to $517M in 2025.

Veracyte's fiscal-year revenue rose in each of the five years to 2025, from $117M to $517M.

Profit is backed by cash. Free cash flow is 145% of reported profit.

Veracyte's free cash flow is 145% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about Veracyte

Is Veracyte getting weaker?

Its latest SEC filing (Jul 31, 2026) got stronger: operating margin rose 4.5 points to 18.8%. Its overall score is unchanged at 72/100 since Oct 28, 2026.

How is Veracyte valued vs its peers?

Priced about in line with its peers. Valuation scores 51/100 against 1,393 healthcare peers.

Is Veracyte growing?

Yes, faster than most of its peers. Growth scores 91/100 against 1,393 healthcare peers. Earnings per share growth 326.2% vs a peer median of 9.8% (stronger than 97% of peers).Earnings per share growth 326.2% vs peers 9.8% (stronger than 97% of peers).

How profitable is Veracyte?

More profitable than most of its peers. Profitability scores 75/100 against 1,393 healthcare peers. Return on assets 7.7% vs a peer median of 1.7% (stronger than 85% of peers).Return on assets 7.7% vs peers 1.7% (stronger than 85% of peers).

How risky is Veracyte?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 9.16× vs a peer median of 2.59× (stronger than 86% of peers).Current ratio 9.16× vs peers 2.59× (stronger than 86% of peers). Beta 1.93 vs a peer median of 0.63 (weaker than 94% of peers).Beta 1.93 vs peers 0.63 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

541.7M USD

561.9M USD

+3.7%

Net income (12 months)

88.1M USD

114.5M USD

+30.1%

Operating margin

14.3%

18.8%

+4.5 pts

Free cash flow (12 months)

155.3M USD

166.0M USD

+6.9%

Cash

263.1M USD

299.5M USD

+13.8%

Shares outstanding

79.8M

80.4M

+0.7%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

59.2%

63.6%

66.9%

70.1%

▲ 3.2 pts

Operating margin

-37.3%

-13.9%

-23.8%

3.6%

11.2%

▲ 7.6 pts

Net margin

-34.4%

-12.3%

-20.6%

5.4%

12.8%

▲ 7.4 pts

Return on assets (ROA)

-6.4%

-3.2%

-6.7%

1.9%

4.7%

▲ 2.9 pts

Return on equity (ROE)

-6.9%

-3.4%

-7.1%

2.1%

5.1%

▲ 3.0 pts

Free cash flow margin

-16.9%

-0.3%

9.5%

14.3%

24.5%

▲ 10 pts

Current ratio

3.79×

3.97×

4.66×

4.73×

8.15×

▲ 72%

Quick ratio

3.61×

3.74×

4.40×

4.46×

7.81×

▲ 75%

Debt to equity

0.00×

—

Interest coverage

—