Veracyte

VCYT

Medical - Diagnostics & Research · Healthcare

Price

$59.13

-0.09 (-0.15%)

Market Cap

$4.72B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+18.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 67.9M (2021) → 80.6M (2025)

Veracyte, Inc. operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classif

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on VCYT in the last 12 months.

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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

+21.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+300.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$71M/ year

→ Flat (+2% vs prior year)

13.7% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Insider Activity

0.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$263M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Veracyte is a rare growth stock that's already generating positive cash flow while growing at 21%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

72.3%

Premium pricing power — 72.3% gross margin

Operating Margin

17.1%

Healthy — 17.1% operating margin

ROCE

1.7%

Weak — 1.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+16.9%

Fast-growing sales (16.9% YoY)

EPS YoY

+157.6%

Earnings growing fast (157.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

189%

Turns 189% of profit into real cash

FCF Margin

28.6%

Converts sales into free cash efficiently (28.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.03

Conservative — low debt load (0.03)

Interest Cover

100.00x

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

53.4x

Expensive — P/E 53.4

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+24.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (53.4 → 28.8)

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Dividends

Not applicable for this business.

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