Guardant Health, Inc. (GH)

Guardant Health, Inc., a precision oncology company, provides blood and tissue tests, and data sets in the United States and internationally. The company offers Guardant360 CDx test, a liquid biopsy test for tumor mutation profiling; Guardant360 Liquid test, which measures 740+ genes and supports all guideline-recommended biomarkers; Guardant Reveal test, a blood test that utilizes circulating tumor DNA to detect cancer at the molecular level; and Guardant360 Tissue test, a molecular profiling test for tumor tissue that provides genomic, transcriptomic, and epigenomic insights. It also provides Shield blood test for colorectal cancer screening in adults. In addition, the company offers GuardantINFINITY test that provides insights into the complexities of tumor molecular profiles and immune response to advance cancer research and therapy development; GuardantOMNI test covers 500 genes, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications; GuardantINFORM, which provides longitudinal biological insight into tumor evolution alongside longitudinal clinical outcomes; and GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies. Further, it provides Smart Platform, which delivers multiomic insights leveraging genomic, epigenomic, and RNA-based data that are scalable from research to the clinic. Additionally, the company offers development services, including companion diagnostic development and regulatory approval, clinical study setup, monitoring and maintenance, testing development and support, technologies licensing, and kit fulfillment and delivery of Shield screening tests. It has a strategic collaboration with Nuvalent, Inc. for oncology drug development. The company was incorporated in 2011 and is headquartered in Palo Alto, California.

Ticker
GH
Exchange
Nasdaq
Sector
Healthcare
Industry
Diagnostics & Research
Market cap
$20.33B
52-week range
$74.55 - $191.05

Valuation

Share price
$150.87 (close of Nov 6, 2026)
P/E (TTM)
-40.89x
Price to book
-73.67x
Price to free cash flow
-87.55x
Enterprise value
$20.99B
Book value per share
$-2.05

Price performance

PeriodChange
1 day-1.67%
5 days-15.62%
1 month-11.61%
3 months-4.26%
6 months+63.54%
Year to date+47.71%
1 year+56.75%
3 years+443.87%
5 years+36.92%
All time+368.54%

Short interest

As of
Oct 15, 2026
Short % of float
9.01%
Shares short
11.67M
Days to cover
6.69
Change since prior report
-2.07%
Source
FINRA consolidated short interest

Profitability and growth

Return on invested capital
-27.07%
Return on assets
-20.67%
Return on capital employed
-25.56%
Gross margin
64.46%
Net margin
-42.39%
EBITDA margin
-40.48%
Revenue growth
32.88%

Cash flow and balance sheet

Free cash flow yield (TTM)
-1.14%
Current ratio
3.60x
Net debt to EBITDA
-1.47x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$982.02M
Cost of revenue
$349.01M
Gross profit
$633.01M
EBITDA
-$397.51M
Net income
-$416.28M
Earnings per share
$-3.32
Research and development
$364.19M
Interest expense
$3.90M
Shares outstanding
125.37M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$982.02M$633.01M-$416.28M-$3.32
2024-12-31$739.02M$449.22M-$436.37M-$3.56
2023-12-31$563.95M$336.90M-$479.45M-$4.28
2022-12-31$449.54M$293.21M-$654.59M-$6.41
2021-12-31$373.65M$250.74M-$384.77M-$4.00
2020-12-31$286.73M$194.19M-$246.28M-$2.60
2019-12-31$214.38M$143.66M-$75.65M-$0.84
2018-12-31$90.64M$47.43M-$85.06M-$2.80
2017-12-31$49.84M$18.22M-$83.22M-$7.07
2016-12-31$25.25M$3.13M-$46.14M-$3.53

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3164.46%-42.39%--27.07%
2024-12-3160.79%-59.05%--37.08%
2023-12-3159.74%-85.02%--37.34%
2022-12-3165.23%-145.61%--38.08%
2021-12-3167.11%-102.98%-59.65%-20.36%
2020-12-3167.73%-85.89%-18.97%-11.84%
2019-12-3167.01%-35.29%-9.48%-9.60%
2018-12-3152.33%-93.85%-17.61%-19.24%
2017-12-3136.56%-166.97%-26.97%-24.83%
2016-12-3112.38%-182.74%-57.89%-45.33%

Cash and debt by year

Period endCashDebt
2025-12-31$378.20M$1.50B
2024-12-31$525.54M$1.14B
2023-12-31$1.13B$1.14B
2022-12-31$141.65M$1.14B
2021-12-31$492.20M$1.13B
2020-12-31$832.98M$806.29M
2019-12-31$143.23M-
2018-12-31$140.54M-
2017-12-31$72.28M-
2016-12-31$33.59M$16.35M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$233.07M$166.22M
2024-12-31-$274.94M$140.41M
2023-12-31-$345.46M$90.76M
2022-12-31-$386.92M$94.69M
2021-12-31-$284.05M$151.45M
2020-12-31-$140.10M$144.11M
2019-12-31-$65.85M$16.95M
2018-12-31-$92.39M$6.85M
2017-12-31-$78.92M$3.67M
2016-12-31-$38.48M$1.97M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-05Sep 2026-$0.68
2026-07-30Jun 2026-$0.74
2026-05-07Mar 2026-$0.71
2026-02-19Dec 2025-$0.81
2025-10-29Sep 2025-$0.80
2025-07-30Jun 2025-$0.79
2025-04-30Mar 2025-$0.78
2025-02-20Dec 2024-$0.74

Filings and sources

Company website
guardanthealth.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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