VCYT
VERACYTE, INC.
Next earnings Aug 4, 2026 (after close) · consensus $0.25 EPS, $147M rev
Last earnings -1.4% on 2026-05-05
$57.08
▼ -5.17%$57.08▲ +108.47%
over 1Y
L $23.03H $60.49
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-5.2%
1W-2.5%
1M+19.4%
3M+77.0%
YTD+34.7%
1Y+108.5%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 18 analysts
Buy
Inflecting diagnostics franchise with a debt-free balance sheet, but 69x earnings already prices in flawless execution on Decipher/Afirma.
Revenue $517M · FY2025
The read
Middling fundamentals and a rich price (~46% above fair value) leave little margin of safety — a wait-and-see.
Veracyte has executed a genuine fundamental turn: FY2025 revenue grew 16.0% to $517M, operating income swung to $57.8M (+258% YoY), net income tripled to $66.4M, and operating cash flow jumped 81.5% to $136M. Gross margin of 70.1% on lab-developed tests is structurally attractive, and the balance sheet is pristine — $363M cash (up 51.7%), zero long-term debt since FY2021, and liabilities/equity of just 0.07x. This is a profitable, self-funding diagnostics platform, not the cash-burning story it was through FY2023.
The MD&A frames the business as a focused oncology-diagnostics franchise built around Decipher Prostate and Afirma (thyroid), with Prosigna (breast) and Decipher Bladder as adjacent legs, and an explicit growth bet on TrueMRD (minimal residual disease) from the C2i acquisition. Management is also planning to launch Prosigna as an LDT in 2026, which extends the high-margin centralized-lab model. The combination of a 70%+ gross margin business, an inflecting operating line, and optionality from MRD is what justifies the recent re-rating.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 25, 2026, 8:49 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $220M | $297M | $361M | $446M | $517M |
| Gross profit | — | $176M | $230M | $298M | $363M |
| Operating income | -$81.9M | -$41.1M | -$85.8M | $16.1M | $57.8M |
| Net income | -$75.6M | -$36.6M | -$74.4M | $24.1M | $66.4M |
| Diluted EPS | -$1.11 | -$0.51 | -$1.02 | $0.31 | $0.82 |
| Net margin | -34.4% | -12.3% | -20.6% | 5.4% | 12.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$4.19B
EV / EBITDA52.9
EV / Sales8.1
EV / FCF33.1
P / FCF36.0
PEG (trailing)0.40
Earnings yield1.5%
FCF yield2.8%
Quality & risk
ROIC (est.)3.5%
Free cash flow$127M
Total debt$0.00
Net cash$363M
Altman Z-Score28.83 safe
Piotroski F-Score8/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+1.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Officer / director change2026-06-11
Annual meeting vote results and a board/officer change disclosed
- 10-Q Quarterly report2026-05-06
Q1'26 10-Q filed; profitability sustained after FY25 inflection
- 8-K Earnings results2026-05-05
Q1'26 earnings release issued amid ongoing revenue growth momentum
- DEF 14A Proxy statement2026-04-22
Proxy filed (DEF 14A) for 2026 annual meeting; routine governance
- 8-K Officer / director change2026-03-16
Executive/director change announced (5.02 only); no financial update
- 10-K Annual report2026-02-26
FY25 10-K: $517M rev, $66M NI, $363M cash, no LT debt, OCF $136M
- 8-K Earnings results2026-02-25
Q4/FY25 earnings: revenue $517M (+16%), net income $66M (+175%)
- 8-K Earnings results2026-01-12
Preliminary FY25 results / 2026 guidance pre-released at JPM healthcare conf
- 10-Q Quarterly report2025-11-05
Q3'25 10-Q shows continued top-line growth and operating leverage
Recent filings
all on EDGAR ↗4Period ending 2026-06-182026-06-22open ↗144Filing2026-06-18open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗4Period ending 2026-06-112026-06-15open ↗8-KPeriod ending 2026-06-102026-06-11open ↗S-8Filing2026-06-10open ↗
Frequently asked
- Is VERACYTE, INC. (VCYT) a buy?
- VCYT currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Inflecting diagnostics franchise with a debt-free balance sheet, but 69x earnings already prices in flawless execution on Decipher/Afirma.
- What is VCYT's fair value?
- A Modified-Graham model based on VCYT's SEC fundamentals estimates a fair value of about $30.63. It is an estimate from reported earnings, not a price target.
- Is VCYT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, VCYT currently appears overvalued relative to its SEC-grounded earnings power.
- What is VERACYTE, INC.'s quality score?
- VCYT scores 68.61913477050383/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001384101, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 6/25/2026, 12:49:14 PM.
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