GRAIL, Inc. (GRAL) Key Metrics
GRAL valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $5.26B
- Enterprise value
- $4.08B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 31.8
- Price / book
- 1.9
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 2.84
GRAL key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsGRAL valuation Price multiples at each fiscal year-end price.
GRAL returns How much profit the business earns on the capital it uses.
GRAL per-share figures Results divided by the shares outstanding at year-end.
GRAL financial health Debt, liquidity and how easily interest is covered.
GRAL efficiency & capital use Working capital cycle and where the cash goes.
GRAL valuation history
GRAL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
GRAL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
GRAL cash returned to shareholders
GRAL price vs earnings per share
GRAL key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $3.15B | $569.4M | — | — | — | — | — | — |
| Enterprise value | $2.34B | −$125.9M | — | — | — | — | — | — |
| Price / sales | 21.4 | 4.5 | — | — | — | — | — | — |
| Price / book | 1.2 | 0.2 | — | — | — | — | — | — |
| EV / sales | 15.9 | -1.0 | — | — | — | — | — | — |
| Earnings yield | −13.0% | −356.0% | — | — | — | — | — | — |
| Free cash flow yield | −9.5% | −102.3% | — | — | — | — | — | — |
| Share price at fiscal year-end | $85.59 | $17.85 | — | — | — | — | — | — |
| Per share | ||||||||
| Revenue per share | $4.00 | $3.94 | $3.00 | $1.79 | $0.47 | $0.00 | $0.00 | $0.00 |
| Earnings per share | −$11.11 | −$63.54 | −$47.20 | −$173.87 | −$40.18 | −$2.52 | −$1.99 | −$2.42 |
| Operating cash flow per share | −$8.14 | −$18.09 | −$19.19 | −$18.08 | −$22.16 | −$1.88 | −$2.00 | −$1.83 |
| Free cash flow per share | −$8.14 | −$18.26 | −$19.60 | −$18.81 | −$24.41 | −$1.97 | −$2.02 | −$1.97 |
| Cash per share | $24.61 | $23.93 | $3.13 | $7.78 | $7.12 | $4.72 | $4.42 | $5.62 |
| Book value per share | $70.14 | $78.47 | $117.42 | $149.62 | $303.69 | $4.54 | $4.47 | $5.26 |
| Tangible book value per share | $19.79 | $15.25 | $2.26 | $6.87 | $5.11 | $4.54 | $4.47 | $5.26 |
| Capex per share | $0.02 | $0.16 | $0.42 | $0.74 | $2.25 | $0.10 | $0.03 | $0.14 |
| Debt per share | $2.67 | $2.14 | $2.72 | $3.09 | $3.56 | $0.51 | $0.34 | $0.02 |
| Shares outstanding | 36.8M | 31.9M | 31.1M | 31.1M | 31.1M | 123.7M | 123.2M | 114.1M |
| Change in shares outstanding | +15.2% | +2.7% | 0.0% | 0.0% | −74.9% | +0.4% | +7.9% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | −16.1% | −65.9% | −35.4% | −76.7% | −25.0% | −56.1% | −42.6% | −45.9% |
| Return on invested capital (ROIC) | −23.6% | −63.6% | −29.4% | −62.2% | −21.4% | −558.2% | — | — |
| Return on assets (ROA) | −13.8% | −53.8% | −28.9% | −70.4% | −23.9% | −46.5% | −37.0% | −40.1% |
| Return on tangible assets | −38.1% | −209.7% | −149.4% | −461.8% | −267.6% | −44.2% | −38.5% | −40.1% |
| Free cash flow margin | −203.2% | −463.7% | −653.8% | — | — | — | — | — |
| Financial health | ||||||||
| Total debt | $98.0M | $68.1M | $84.4M | $96.0M | $110.6M | $63.0M | $42.0M | $2.5M |
| Cash & short-term investments | $904.4M | $763.5M | $97.3M | $241.6M | $221.2M | $583.5M | $544.3M | $641.4M |
| Net debt | −$806.4M | −$695.3M | −$12.9M | −$145.6M | −$110.6M | −$520.5M | −$502.3M | −$638.8M |
| Debt / equity | 0.04 | 0.03 | 0.02 | 0.02 | 0.01 | 0.11 | 0.08 | 0.00 |
| Debt / assets | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.09 | 0.07 | 0.00 |
| Current ratio | 11.97 | 10.66 | 0.95 | 2.19 | 2.48 | 7.10 | 12.41 | 8.75 |
| Quick ratio | 11.77 | 10.42 | 0.82 | 2.04 | 2.48 | 7.10 | 12.42 | 8.75 |
| Working capital | $874.2M | $742.9M | −$7.5M | $160.7M | $144.8M | $512.0M | $512.6M | $575.1M |
| Invested capital | $1.77B | $1.81B | $3.63B | $4.50B | $9.32B | $41.3M | $48.2M | −$38.5M |
| Tangible asset value | $727.3M | $486.5M | $70.0M | $213.2M | $158.8M | $561.8M | $550.5M | $600.4M |
| Net current asset value | $609.7M | $340.0M | −$754.7M | −$660.3M | −$64.7M | $451.5M | $472.5M | $562.8M |
| Graham net-net per share | $15.84 | $9.76 | −$25.31 | −$22.24 | −$2.61 | $3.55 | $3.73 | $4.86 |
| Capital allocation | ||||||||
| Share buybacks (net) | — | — | $234,000 | $4.2M | $170,000 | — | $261,000 | $282,000 |
| Capex / revenue | 0.6% | 4.1% | 13.8% | 41.2% | 478.6% | — | — | — |
| Capex / depreciation | 0.01 | 0.03 | 0.08 | 0.15 | 1.20 | 1.57 | 0.32 | 1.14 |
| Stock-based compensation / revenue | 39.6% | 68.5% | 104.4% | 136.3% | 4,666.8% | — | — | — |
| R&D / revenue | 133.0% | 256.7% | 363.8% | 593.3% | 3,149.5% | — | — | — |
| SG&A / revenue | 187.4% | 292.9% | 389.4% | 533.6% | 1,601.8% | — | — | — |
| Efficiency | ||||||||
| Days sales outstanding | 53.2 | 68.3 | 80.3 | 83.8 | 171.9 | — | — | — |
| Days of inventory on hand | 30.1 | 36.1 | 40.1 | 41.9 | — | — | -20.7 | — |
| Days payables outstanding | 6.0 | 22.0 | 35.9 | 37.3 | 67.1 | — | 333.6 | 330.5 |
| Cash conversion cycle (days) | 77.4 | 82.5 | 84.5 | 88.4 | 104.8 | — | — | — |
| Receivables turnover | 6.86 | 5.35 | 4.55 | 4.36 | 2.12 | — | — | — |
| Payables turnover | 60.56 | 16.61 | 10.16 | 9.79 | 5.44 | — | 1.09 | 1.10 |
| Inventory turnover | 12.11 | 10.10 | 9.11 | 8.71 | — | — | — | — |
| Asset turnover | 0.05 | 0.03 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $21.5M | $23.5M | $20.5M | $12.7M | $6.9M | — | — | — |
| Average payables | $3.5M | $12.3M | $18.6M | $17.6M | $21.1M | $15.3M | $9.4M | $12.8M |
| Average inventory | $17.3M | $20.2M | $20.7M | $19.8M | — | — | −$584,000 | — |
| Intangibles / total assets | 63.3% | 67.6% | 78.5% | 79.1% | 95.2% | 0.0% | 0.0% | 0.0% |
Computed from GRAL's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
GRAL valuation and financial ratios
GRAIL earned a return on equity of −16.1% and a return on invested capital of −23.6% in fiscal 2025. It ended the year with $98.0 million of debt and $904.4 million in cash and short-term investments, a net cash position of $806.4 million. The share count fell 67.8% from 114.1M to 36.8M over 7 years.
See the GRAL income statement, the GRAL chart for price history, or the GRAL stock overview for the latest quote and news.
GRAL key metrics FAQ
What is GRAIL's return on equity?
GRAIL's return on equity (ROE) was −16.1% in fiscal 2025: net income of -$408.4 million on average shareholders' equity of $2.5 billion.
What is GRAIL's ROIC?
GRAIL's return on invested capital was −23.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does GRAIL have?
GRAIL had total debt of $98.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.04 and more cash than debt.
What is GRAIL's free cash flow yield?
GRAIL generated -$299.0 million of free cash flow in fiscal 2025, a free cash flow yield of −9.5% on its market value at year-end ($3.1 billion).
What is GRAIL's current ratio?
GRAIL's current ratio was 11.97 at the end of fiscal 2025: current assets were 11.97 times current liabilities.