Comprehensive Stock Comparison
Compare Adaptive Biotechnologies Corporation (ADPT) vs Veracyte, Inc. (VCYT) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth |  VCYT | 16.0% revenue growth vs ADPT's 5.1% |
| Quality / Margins | VCYT | 12.8% net margin vs ADPT's -31.5% |
| Stability / Safety | VCYT | Beta 1.12 vs ADPT's 1.31, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) |  ADPT | +104.7% vs VCYT's +10.0% |
| Efficiency (ROA) | VCYT | 4.7% ROA vs ADPT's -16.2%, ROIC 4.4% vs -41.6% |
Who Each Stock Is For
Income & stability
VCYTbeta 1.12
Growth exposure
VCYTRev growth 16.0%, EPS growth 164.5%, 3Y rev CAGR 20.4%
Long-term compounding (10Y)
VCYT443.8% 10Y total return vs ADPT's -59.2%
Sleep-well-at-night portfolio
VCYTLower volatility, beta 1.12, Low D/E 3.0%, current ratio 8.15x
Defensive / Recession hedge
VCYTBeta 1.12, current ratio 8.15x
Business Model
What each company does and how it makes money
Adaptive Biotechnologies is a biotechnology company that develops immune medicine platforms for diagnosing and treating diseases like cancer, autoimmune disorders, and infectious diseases. It generates revenue primarily through its clinical diagnostics segment — including its clonoSEQ test for minimal residual disease monitoring — and its translational and clinical genomics research services, with diagnostics contributing roughly 60% of revenue. The company's key advantage lies in its proprietary immune medicine platform that maps and translates the genetics of the adaptive immune system into clinical diagnostics and therapies.
Veracyte is a molecular diagnostics company that develops genomic tests to improve cancer and other disease diagnosis and treatment decisions. It generates revenue primarily from diagnostic test sales — including its Afirma thyroid, Decipher prostate, and Percepta lung cancer tests — with additional income from technology licensing partnerships. The company's competitive advantage lies in its proprietary genomic classifiers and biobank of clinical samples that enable development of clinically validated tests with strong physician adoption.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
VCYT 3ADPT 1VCYT4/6 metricsVCYT2/3 metricsVCYT8/8 metricsADPT4/6 metricsVCYT leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). ADPT leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
VCYT is the larger business by revenue, generating $517M annually — 2.0x ADPT's $253M. VCYT is the more profitable business, keeping 12.8% of every revenue dollar as net income compared to ADPT's -31.5%. On growth, ADPT holds the edge at +102.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $253M | $517M |
| EBITDAEarnings before interest/tax | -$62M | $74M |
| Net IncomeAfter-tax profit | -$80M | $66M |
| Free Cash FlowCash after capex | -$63M | $126M |
| Gross MarginGross profit ÷ Revenue | +71.8% | +70.1% |
| Operating MarginEBIT ÷ Revenue | -30.9% | +11.2% |
| Net MarginNet income ÷ Revenue | -31.5% | +12.8% |
| FCF MarginFCF ÷ Revenue | -24.9% | +24.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +102.4% | +18.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +126.6% | +7.3% |
Valuation Metrics
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| Market CapShares × price | $2.5B | $2.9B |
| Enterprise ValueMkt cap + debt − cash | $2.5B | $2.6B |
| Trailing P/EPrice ÷ TTM EPS | -15.22x | 44.23x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 22.03x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 44.23x |
| Price / SalesMarket cap ÷ Revenue | 14.02x | 5.57x |
| Price / BookPrice ÷ Book value/share | 11.94x | 2.23x |
| Price / FCFMarket cap ÷ FCF | — | 22.73x |
Profitability & Efficiency
VCYT delivers a 5.1% return on equity — every $100 of shareholder capital generates $5 in annual profit, vs $-39 for ADPT. VCYT carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to ADPT's 0.44x. On the Piotroski fundamental quality scale (0–9), VCYT scores 8/9 vs ADPT's 4/9, reflecting strong financial health.
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | -39.0% | +5.1% |
| ROA (TTM)Return on assets | -16.2% | +4.7% |
| ROICReturn on invested capital | -41.6% | +4.4% |
| ROCEReturn on capital employed | -32.0% | +4.5% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 8 |
| Debt / EquityFinancial leverage | 0.44x | 0.03x |
| Net DebtTotal debt minus cash | $41M | -$323M |
| Cash & Equiv.Liquid assets | $48M | $363M |
| Total DebtShort + long-term debt | $89M | $40M |
| Interest CoverageEBIT ÷ Interest expense | -6.25x | — |
Total Returns (with DRIP)
A $10,000 investment in VCYT five years ago would be worth $7,634 today (with dividends reinvested), compared to $3,893 for ADPT. Over the past 12 months, ADPT leads with a +104.7% total return vs VCYT's +10.0%. The 3-year compound annual growth rate (CAGR) favors ADPT at 24.8% vs VCYT's 15.2% — a key indicator of consistent wealth creation.
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +3.3% | -14.4% |
| 1-Year ReturnPast 12 months | +104.7% | +10.0% |
| 3-Year ReturnCumulative with dividends | +94.3% | +52.8% |
| 5-Year ReturnCumulative with dividends | -61.1% | -23.7% |
| 10-Year ReturnCumulative with dividends | -59.2% | +443.8% |
| CAGR (3Y)Annualised 3-year return | +24.8% | +15.2% |
Risk & Volatility
VCYT is the less volatile stock with a 1.12 beta — it tends to amplify market swings less than ADPT's 1.31 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ADPT currently trades 79.2% from its 52-week high vs VCYT's 71.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.31x | 1.12x |
| 52-Week HighHighest price in past year | $20.76 | $50.71 |
| 52-Week LowLowest price in past year | $6.26 | $22.61 |
| % of 52W HighCurrent price vs 52-week peak | +79.2% | +71.5% |
| RSI (14)Momentum oscillator 0–100 | 46.2 | 39.9 |
| Avg Volume (50D)Average daily shares traded | 1.8M | 807K |
Analyst Outlook
Wall Street rates ADPT as "Buy" and VCYT as "Buy". Consensus price targets imply 30.3% upside for VCYT (target: $47) vs 29.3% for ADPT (target: $21).
| Metric | ADPTAdaptive Biotechn… | VCYTVeracyte, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $21.25 | $47.25 |
| # AnalystsCovering analysts | 17 | 20 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Mar 26 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | 100 | 58.58 | -41.4% |
| Veracyte, Inc. (VCYT) | 100 | 145.44 | +45.4% |
Veracyte, Inc. (VCYT) returned -24% over 5 years vs Adaptive Biotechnol… (ADPT)'s -61%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | $38M | $179M | +365.5% |
| Veracyte, Inc. (VCYT) | $65M | $517M | +694.6% |
Veracyte, Inc.'s revenue grew from $65M (2016) to $517M (2025) — a 25.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | -111.4% | -89.1% | +20.0% |
| Veracyte, Inc. (VCYT) | -48.2% | 12.8% | +126.6% |
Veracyte, Inc.'s net margin went from -48% (2016) to 13% (2025).
Chart 4EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | -0.41 | -1.08 | -163.4% |
| Veracyte, Inc. (VCYT) | -1.09 | 0.82 | +175.2% |
Veracyte, Inc.'s EPS grew from $-1.09 (2016) to $0.82 (2025).
Chart 5Free Cash Flow — 5 Years
Adaptive Biotechnologies Corporation generated $-99M FCF in 2024 (+61% vs 2021). Veracyte, Inc. generated $127M FCF in 2025 (+442% vs 2021).
ADPT vs VCYT: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ADPT or VCYT a better buy right now?
Veracyte, Inc. (VCYT) offers the better valuation at 44.2x trailing P/E (22.0x forward), making it the more compelling value choice. Analysts rate Adaptive Biotechnologies Corporation (ADPT) a "Buy" — based on 17 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — ADPT or VCYT?
Over the past 5 years, Veracyte, Inc. (VCYT) delivered a total return of -23.7%, compared to -61.1% for Adaptive Biotechnologies Corporation (ADPT). A $10,000 investment in VCYT five years ago would be worth approximately $8K today (assuming dividends reinvested). Over 10 years, the gap is even starker: VCYT returned +443.8% versus ADPT's -59.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ADPT or VCYT?
By beta (market sensitivity over 5 years), Veracyte, Inc. (VCYT) is the lower-risk stock at 1.12β versus Adaptive Biotechnologies Corporation's 1.31β — meaning ADPT is approximately 17% more volatile than VCYT relative to the S&P 500. On balance sheet safety, Veracyte, Inc. (VCYT) carries a lower debt/equity ratio of 3% versus 44% for Adaptive Biotechnologies Corporation — giving it more financial flexibility in a downturn.
04Which has better profit margins — ADPT or VCYT?
Veracyte, Inc. (VCYT) is the more profitable company, earning 12.8% net margin versus -89.1% for Adaptive Biotechnologies Corporation — meaning it keeps 12.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VCYT leads at 11.2% versus -90.8% for ADPT. At the gross margin level — before operating expenses — VCYT leads at 70.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is ADPT or VCYT more undervalued right now?
Analyst consensus price targets imply the most upside for VCYT: 30.3% to $47.25.
06Which pays a better dividend — ADPT or VCYT?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is ADPT or VCYT better for a retirement portfolio?
For long-horizon retirement investors, Veracyte, Inc. (VCYT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.12), +443.8% 10Y return). Both have compounded well over 10 years (VCYT: +443.8%, ADPT: -59.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between ADPT and VCYT?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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