Veracyte, Inc.

12V.F · Healthcare · Diagnostics & Research · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

787.35M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.39B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.39B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

1.19B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

3.62B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.33×

the ratio the screener ranks by

Margin of Safety

-204.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 787.35M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)21.35M USD
+②Net Cash Today445.57M USD
+③Growth Value320.43M USD
=Value787.35M USD

EPV of the Operations (NOPAT over WACC)

21.35M USD

Net cash today

+445.57M USD

Growth Value

+320.43M USD

Value

787.35M USD

①EPV (Earnings Power Value)

21.35M USD

②Net Cash Today

445.57M USD

③Growth Value

320.43M USD

Market value

Market Cap3.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-359.4%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.39B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 1.39B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap3.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-160.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.39B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an operating profit at or below zero in the latest three years), so the value is the book value today, 1.39B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap3.62B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-160.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 16.00%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.95×Market Risk Premium 6.00%= 16.18%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.85M USDPretax Income 68.27M USD= 2.71%

The tax the interest saves.

Interest Expense =EBIT 68.27M USD−Pretax Income 68.27M USD= 1.00K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.00K USDTotal Debt 40.15M USD×(1 − Tax Rate for WACC 2.71%)= 0.00%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 40.15M USDMarket Cap + Total Debt 3.62B USD + 40.15M USD= 1.10%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 98.90%×Cost of Equity 16.18%+Debt Weight 1.10%×Cost of Debt 0.00%= 16.00%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 1.49B USD − Total Liabilities 98.06M USD = Book Value Today 1.39B USD

Total Debt 40.15M USD − Cash and Short-Term Investments 485.72M USD = Net Debt Today -445.57M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 19.7%at most 5%does not pass80,363,927 / 73,264,738
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets4.7%at least -10.0%passes(136.44M USD − 66.42M USD) ÷ 1.49B USD
Price to bookMarket Cap ÷ Book Value Today2.60×at most 3×passes3.62B USD ÷ 1.39B USD
Operating marginOperating Income ÷ Revenue15.1%above 10.0%passes78.36M USD ÷ 517.66M USD
Revenue growthRevenue ÷ Revenue a Year Before − 116.0%above 10.0%passes517.66M USD / 446.21M USD
Net cash(Cash − Total Debt) ÷ Market Cap7.2%above -30%passes(299.82M USD − 40.15M USD) ÷ 3.62B USD
Operating efficiencyOperating Income ÷ Gross Profit21.6%above 25.0%does not pass78.36M USD ÷ 362.89M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

40.05 EUR

Enterprise value

2.76B EUR

the provider's own figure

EV / EBITDA

24.31×

Price / book

2.60×

the provider's book

Price / earnings

33.34×

Return on equity

8.8%

the provider's figure, not this page's

Profit margin

20.4%

Revenue growth

15.5%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

296.83M361.41M446.21M517.66M

Gross profit

175.86M229.91M298.44M362.89M

Operating income

-35.38M-17.46M19.53M78.36M

EBITDA

operating income before depreciation and amortisation

-10.31M-49.46M49.25M89.71M

Pretax income

-36.46M-76.69M25.77M68.27M

Net income

-36.60M-74.48M24.16M66.42M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-34.13M-8.74M29.24M89.05M

R&D

40.64M57.36M69.36M70.88M
Balance sheet, year end (USD)2022202320242025

Total assets

1.16B1.12B1.30B1.41B

Total liabilities

81.30M70.87M124.19M96.54M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.08B1.05B1.18B1.31B

Total debt

14.73M12.64M50.79M39.69M

Cash and equivalents

154.40M216.67M239.33M362.94M

Net PP&E

fixed assets after depreciation

30.89M30.89M71.21M58.85M

Working capital

current assets less current liabilities

186.21M224.60M293.93M428.87M
Cash flow (USD)2022202320242025

Operating cash flow

7.54M44.27M75.17M136.44M

Capital expenditure

paid out, so below zero

-8.56M-9.97M-11.30M-9.69M

Depreciation and amortisation

25.95M27.22M23.48M21.44M

Free cash flow

operating cash flow plus capital expenditure

-1.02M34.30M63.87M126.76M