Veracyte, Inc. (VCYT) Key Metrics
VCYT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.47B
- Enterprise value
- $3.08B
- P/E (TTM)
- 30.8
- Forward P/E
- 23.6
- PEG ratio
- —
- Price / sales
- 6.2 10-yr median 6.1
- Price / book
- 2.5 10-yr median 3.2
- EV / EBITDA
- 22.5
- Dividend yield
- —
- Beta
- 1.95
VCYT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsVCYT valuation Price multiples at each fiscal year-end price.
VCYT returns How much profit the business earns on the capital it uses.
VCYT per-share figures Results divided by the shares outstanding at year-end.
VCYT financial health Debt, liquidity and how easily interest is covered.
VCYT efficiency & capital use Working capital cycle and where the cash goes.
VCYT valuation history
VCYT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
VCYT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
VCYT cash returned to shareholders
VCYT price vs earnings per share
VCYT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.39B | $3.10B | $2.00B | $1.70B | $2.80B | $2.61B | $1.29B | $465.7M | $221.5M | $223.1M |
| Enterprise value | $3.02B | $2.86B | $1.79B | $1.53B | $2.64B | $2.27B | $1.14B | $413.0M | $212.9M | $189.4M |
| P/E ratio | 51.1 | 128.2 | — | — | — | — | — | — | — | — |
| Price / sales | 6.6 | 6.9 | 5.5 | 5.7 | 12.7 | 22.2 | 10.7 | 5.1 | 3.1 | 3.4 |
| Price / book | 2.6 | 2.6 | 1.9 | 1.6 | 2.6 | 6.2 | 5.4 | 5.8 | 6.0 | 3.7 |
| Price / free cash flow | 26.8 | 48.5 | 58.3 | — | — | — | — | — | — | — |
| Price / operating cash flow | 24.9 | 41.2 | 45.2 | 225.3 | — | — | — | — | — | — |
| EV / sales | 5.8 | 6.4 | 5.0 | 5.2 | 12.0 | 19.3 | 9.5 | 4.5 | 3.0 | 2.9 |
| EV / EBITDA | 33.7 | 58.1 | — | — | — | — | — | — | — | — |
| EV / free cash flow | 23.8 | 44.8 | 52.4 | — | — | — | — | — | — | — |
| Earnings yield | 2.0% | 0.8% | −3.7% | −2.2% | −2.7% | −1.3% | −1.0% | −4.9% | −14.0% | −14.1% |
| Free cash flow yield | 3.7% | 2.1% | 1.7% | −0.1% | −1.3% | −0.5% | −0.5% | −3.3% | −11.6% | −14.4% |
| Dividend yield | — | — | — | 0.2% | — | 0.1% | 0.1% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | 0.3% | 0.4% | 0.3% | 0.3% | 0.2% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $42.10 | $39.60 | $27.51 | $23.73 | $41.20 | $48.94 | $27.92 | $12.58 | $6.53 | $7.74 |
| Per share | ||||||||||
| Revenue per share | $6.42 | $5.70 | $4.97 | $4.14 | $3.23 | $2.21 | $2.61 | $2.49 | $2.12 | $2.26 |
| Earnings per share | $0.82 | $0.31 | −$1.02 | −$0.51 | −$1.11 | −$0.66 | −$0.27 | −$0.62 | −$0.91 | −$1.09 |
| Operating cash flow per share | $1.69 | $0.96 | $0.61 | $0.11 | −$0.47 | −$0.18 | −$0.07 | −$0.37 | −$0.70 | −$0.97 |
| Free cash flow per share | $1.57 | $0.82 | $0.47 | −$0.01 | −$0.54 | −$0.24 | −$0.13 | −$0.42 | −$0.76 | −$1.12 |
| Cash per share | $5.12 | $3.70 | $2.98 | $2.50 | $2.61 | $6.56 | $3.45 | $2.11 | $1.00 | $2.05 |
| Book value per share | $16.25 | $15.05 | $14.37 | $15.03 | $16.15 | $7.91 | $5.19 | $2.15 | $1.10 | $2.07 |
| Tangible book value per share | $5.63 | $4.19 | $3.48 | $2.86 | $2.74 | $6.74 | $3.72 | $1.80 | $0.68 | $1.54 |
| Dividends per share | — | — | — | $0.04 | — | $0.07 | $0.02 | — | $0.00 | $0.00 |
| Capex per share | $0.12 | $0.14 | $0.14 | $0.12 | $0.08 | $0.05 | $0.06 | $0.05 | $0.05 | $0.15 |
| Debt per share | $0.49 | $0.65 | $0.17 | $0.21 | $0.28 | $0.23 | $0.29 | $0.68 | $0.74 | $0.89 |
| Shares outstanding | 80.6M | 78.2M | 72.6M | 71.5M | 67.9M | 53.2M | 46.1M | 37.0M | 33.9M | 28.8M |
| Change in shares outstanding | +3.1% | +7.6% | +1.5% | +5.4% | +27.5% | +15.4% | +24.6% | +9.1% | +17.7% | +11.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 5.3% | 2.2% | −7.0% | −3.4% | −10.0% | −10.6% | −7.9% | −39.3% | −64.1% | −56.6% |
| Return on invested capital (ROIC) | 7.7% | 1.7% | −7.7% | −3.5% | −12.7% | −31.4% | −19.8% | −63.2% | −77.0% | −94.7% |
| Return on assets (ROA) | 4.9% | 2.0% | −6.6% | −3.1% | −9.2% | −9.5% | −6.4% | −23.1% | −34.5% | −35.6% |
| Return on tangible assets | 12.1% | 5.3% | −23.0% | −12.8% | −27.3% | −8.8% | −6.1% | −21.4% | −48.0% | −36.5% |
| Free cash flow margin | 24.5% | 14.3% | 9.5% | −0.3% | −16.9% | −10.7% | −5.0% | −16.7% | −35.7% | −49.5% |
| Income quality (OCF / net income) | 2.05 | 3.11 | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $39.7M | $50.7M | $12.6M | $14.7M | $18.9M | $12.3M | $13.6M | $25.3M | $25.2M | $25.5M |
| Cash & short-term investments | $412.9M | $289.4M | $216.5M | $178.9M | $177.2M | $349.4M | $159.3M | $78.0M | $33.9M | $59.2M |
| Net debt | −$373.2M | −$238.7M | −$203.8M | −$164.1M | −$158.3M | −$337.0M | −$145.7M | −$52.7M | −$8.6M | −$33.7M |
| Debt / equity | 0.03 | 0.04 | 0.01 | 0.01 | 0.02 | 0.03 | 0.06 | 0.32 | 0.68 | 0.43 |
| Debt / assets | 0.03 | 0.04 | 0.01 | 0.01 | 0.02 | 0.03 | 0.05 | 0.21 | 0.32 | 0.25 |
| Net debt / EBITDA | −4.16 | −4.85 | — | — | — | — | — | — | — | — |
| Current ratio | 8.15 | 4.73 | 4.66 | 3.97 | 3.79 | 22.39 | 10.74 | 7.42 | 4.48 | 6.38 |
| Quick ratio | 7.81 | 4.46 | 4.40 | 3.74 | 3.61 | 22.11 | 10.35 | 7.16 | 4.04 | 6.08 |
| Interest coverage | — | — | — | -207.5 | -339.8 | -154.5 | -22.3 | -11.3 | -5.4 | -10.4 |
| Working capital | $428.4M | $293.6M | $224.4M | $186.0M | $179.0M | $358.9M | $170.2M | $83.9M | $41.9M | $62.1M |
| Invested capital | $936.3M | $937.3M | $840.3M | $911.1M | $938.2M | $84.2M | $93.7M | $27.0M | $28.6M | $25.9M |
| Tangible asset value | $453.3M | $327.9M | $252.5M | $204.4M | $185.9M | $358.6M | $171.7M | $66.7M | $23.1M | $44.4M |
| Net current asset value | $391.9M | $248.2M | $214.8M | $167.4M | $151.8M | $339.7M | $151.9M | $56.1M | $12.5M | $32.2M |
| Graham number | $17.35 | $10.22 | — | — | — | — | — | — | — | — |
| Graham net-net per share | $4.47 | $2.70 | $2.53 | $1.93 | $1.81 | $6.19 | $3.07 | $1.32 | $0.14 | $0.90 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $3.2M | — | $3.8M | $977,000 | — | $0 | $0 |
| Share buybacks (net) | — | — | $6.7M | $3.2M | $9.0M | $3.8M | $977,000 | $30,000 | $0 | $0 |
| Dividends + buybacks / free cash flow | — | — | 19.7% | — | — | — | — | — | — | — |
| Capex / revenue | 1.9% | 2.5% | 2.8% | 2.9% | 2.4% | 2.4% | 2.3% | 2.0% | 2.4% | 6.5% |
| Capex / operating cash flow | 7.1% | 15.0% | 22.5% | 113.5% | — | — | — | — | — | — |
| Capex / depreciation | 0.45 | 0.48 | 0.37 | 0.33 | 0.27 | 0.36 | 0.67 | 0.48 | 0.46 | 1.20 |
| Stock-based compensation / revenue | 8.4% | 8.1% | 9.2% | 9.0% | 10.3% | 11.1% | 8.1% | 6.5% | 9.2% | 9.8% |
| R&D / revenue | 13.7% | 15.5% | 15.9% | 13.7% | 13.6% | 14.6% | 12.3% | 16.1% | 19.3% | 23.5% |
| SG&A / revenue | 40.8% | 46.2% | 51.0% | 58.7% | 82.5% | 75.9% | 68.7% | 70.9% | 76.9% | 79.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 32.2 | 35.6 | 42.7 | 52.6 | 49.8 | 58.7 | 49.3 | 51.3 | 54.5 | 34.4 |
| Days of inventory on hand | 49.1 | 46.8 | 49.2 | 45.8 | 39.0 | 50.5 | 51.0 | 48.1 | 57.0 | 51.9 |
| Days payables outstanding | 15.4 | 26.7 | 40.2 | 43.6 | 38.0 | 24.0 | 24.2 | 35.1 | 40.6 | 53.8 |
| Cash conversion cycle (days) | 65.9 | 55.7 | 51.7 | 54.9 | 50.8 | 85.2 | 76.1 | 64.3 | 70.8 | 32.5 |
| Receivables turnover | 11.34 | 10.26 | 8.56 | 6.94 | 7.33 | 6.22 | 7.41 | 7.11 | 6.70 | 10.62 |
| Payables turnover | 23.75 | 13.68 | 9.09 | 8.37 | 9.61 | 15.23 | 15.08 | 10.39 | 8.98 | 6.78 |
| Inventory turnover | 7.43 | 7.79 | 7.42 | 7.96 | 9.37 | 7.23 | 7.16 | 7.58 | 6.41 | 7.03 |
| Asset turnover | 0.38 | 0.37 | 0.32 | 0.25 | 0.27 | 0.32 | 0.61 | 0.92 | 0.80 | 0.74 |
| Average receivables | $45.6M | $43.5M | $42.2M | $42.7M | $30.0M | $18.9M | $16.2M | $12.9M | $10.7M | $6.1M |
| Average payables | $6.6M | $10.8M | $12.4M | $12.1M | $7.7M | $2.7M | $2.4M | $3.2M | $3.1M | $3.8M |
| Average inventory | $21.1M | $18.9M | $15.2M | $12.8M | $7.9M | $5.7M | $5.1M | $4.4M | $4.4M | $3.6M |
| Intangibles / total assets | 60.9% | 65.2% | 71.0% | 75.3% | 76.7% | 13.7% | 24.6% | 10.8% | 18.0% | 15.0% |
Computed from VCYT's annual financial statements (latest annual report filed February 26, 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.
VCYT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Veracyte traded at 51.1 times earnings. Based on the latest twelve months, the trailing P/E is 30.8 and the forward P/E is 23.6. Veracyte earned a return on equity of 5.3% and a return on invested capital of 7.7% in fiscal 2025. It ended the year with $39.7 million of debt and $412.9 million in cash and short-term investments, a net cash position of $373.2 million. The share count rose 179.5% from 28.8M to 80.6M over 9 years.
See the VCYT income statement, the VCYT chart for price history, or the VCYT stock overview for the latest quote and news.
VCYT key metrics FAQ
What is Veracyte's P/E ratio?
Veracyte's trailing P/E ratio is 30.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.6. At the end of fiscal 2025 it was 51.1.
What is Veracyte's EV/EBITDA?
Veracyte's enterprise value was 33.7 times EBITDA at the end of fiscal 2025 (enterprise value $3.0 billion, EBITDA $89.6 million); the current EV/EBITDA is 22.5.
What is Veracyte's return on equity?
Veracyte's return on equity (ROE) was 5.3% in fiscal 2025: net income of $66.4 million on average shareholders' equity of $1.2 billion.
What is Veracyte's ROIC?
Veracyte's return on invested capital was 7.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Veracyte have?
Veracyte had total debt of $39.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.03 and more cash than debt.
What is Veracyte's free cash flow yield?
Veracyte generated $126.6 million of free cash flow in fiscal 2025, a free cash flow yield of 3.7% on its market value at year-end ($3.4 billion).
What is Veracyte's current ratio?
Veracyte's current ratio was 8.15 at the end of fiscal 2025: current assets were 8.15 times current liabilities.