Veracyte, Inc. (VCYT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-24.0%

$37.24

vs $49.00 price

Levered DCF

$39.71

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

24.96

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	50.12×	123.75×	-26.97×	-46.53×	-37.12×	-74.15×	-103.41×	-20.29×
P/B	2.53×	2.58×	1.91×	1.58×	2.55×	6.19×	5.38×	5.84×
P/S	6.4×	6.79×	5.54×	5.73×	12.74×	22.18×	10.7×	5.06×
EV / EBITDA	33.31×	57.73×	-36.32×	-151.28×	-42.75×	-84.85×	-146.38×	-24.13×
Gross margin	69.6%	66.9%	68.7%	65.7%	66.1%	64.7%	69.7%	64.0%
Operating margin	14.3%	3.6%	-23.8%	-13.9%	-37.3%	-30.1%	-12.6%	-24.2%
Net margin	12.8%	5.4%	-20.6%	-12.3%	-34.4%	-29.7%	-10.5%	-25.0%
Current ratio	8.15×	4.73×	4.66×	3.97×	3.79×	22.39×	10.74×	7.42×
Debt / equity	0.03×	0.04×	0.01×	0.01×	0.02×	0.03×	0.06×	0.32×
Interest coverage	0×	8,071×	-5,719.67×	-207.48×	-339.85×	-154.54×	-22.34×	-11.33×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.1%	2.1%	-7.1%	-3.4%	-6.9%	-8.3%	-5.3%	-28.8%
Return on invested capital	5.3%	1.2%	-7.9%	-3.7%	-6.7%	-8.0%	-5.8%	-20.4%
Return on assets	4.7%	1.9%	-6.7%	-3.2%	-6.4%	-7.6%	-4.6%	-19.1%
Free cash flow yield	3.8%	2.1%	1.7%	-0.1%	-1.3%	-0.5%	-0.5%	-3.3%
Earnings yield	2.0%	0.8%	-3.7%	-2.2%	-2.7%	-1.3%	-1.0%	-4.9%
Enterprise value	$3B	$2.8B	$1.8B	$1.6B	$2.6B	$2.3B	$1.1B	$413M
Net debt / EBITDA	-3.6×	-3.83×	4.13×	13.55×	2.5×	12.61×	18.67×	3.08×
Cash conversion cycle (days)	69	71	51	63	63	71	103	62