Fulgent Genetics (FLGT) Stock Analysis & Winston Score

Fulgent Genetics, Inc., together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; s

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-3.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-116.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$54M/ year

↑ Rising (+10% vs prior year)

16.7% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

38.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$23M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

Fulgent Genetics is putting 17% of revenue into R&D and that number is rising. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.6% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 31.0M (2021) → 30.8M (2025)

Score breakdown

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Quality

Gross Margin

27.4%

Modest — 27.4% gross margin

Operating Margin

-48.7%

Losing money on operations — -48.7%

ROCE

-3.3%

Weak — -3.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+9.5%

Steady sales growth (9.5% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-35.3%

Burning cash (-35.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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