Guardant Health, Inc. (GH) 10-Year Financial Performance & Capital Metrics

GH • • Industrial / General

HealthcareDiagnostics & ResearchCancer Diagnostics & Oncology TestingLiquid Biopsy & Circulating Tumor DNA

AboutGuardant Health, Inc., a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based tests for advanced stage cancer; and GuardantINFORM, an in-silico research platform that comprise a clinical-genomic liquid biopsy dataset of advanced cancer patients. It is also developing LUNAR-2 test for the early detection of colorectal cancer in asymptomatic individuals eligible; and GuardantConnect, an integrated software-based solution for clinical and biopharmaceutical customers seeking to connect patients tested with the Guardant360 assay with actionable alterations with potentially relevant clinical trials. In addition, the company offers Guardant Reveal Test for neoadjuvant and adjuvant treatment selection in early-stage cancer patients; Guardant360 tissue genotyping product; and Guardant-19 for use in the detection of the novel coronavirus. Further, it offers development services, including companion diagnostic development and regulatory approval, clinical study setup, monitoring and maintenance, testing development and support, and kits fulfillment related services to biopharmaceutical companies and medical institutions. The company was incorporated in 2011 and is headquartered in Redwood City, California.Show more

Revenue $739M +31.0%
EBITDA -$401M +23.1%
Net Income -$436M +9.0%
EPS (Diluted) -3.56 +16.8%
Gross Margin 60.79% +1.8%
EBITDA Margin -54.29% +41.3%
Operating Margin -60.02% +40.1%
Net Margin -59.05% +30.5%
ROE -4584.47% -946.4%
ROIC -63.38% -24.7%
Debt/Equity -
Interest Coverage -171.87 +21.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 92 (top 8%)
✓Strong 5Y sales CAGR of 28.1%
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y28.08%

3Y25.52%

TTM30.38%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.17%

EPS CAGR

10Y-

5Y-

3Y-

TTM24.29%

ROCE

10Y Avg-27.62%

5Y Avg-27.33%

3Y Avg-33.56%

Latest-31.23%

Peer Comparison

Liquid Biopsy & Circulating Tumor DNA

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BIAFbioAffinity Technologies, Inc.	6.39M	1.42	-0.06	269.75%	-217.5%	-165.57%	0.58
VNRXVolitionRx Limited	35.61M	0.29	-0.94	59.1%	-15.54%
BDSXBiodesix, Inc.	66.27M	8.33	-1.26	45.3%	-49.31%	-337.3%	2.97
GRALGRAIL, Inc.	3.8B	97.44	-1.53	34.9%	-286.43%	-18.14%	0.03
GHGuardant Health, Inc.	14.54B	111.98	-31.46	31.04%	-44.18%	-45.84%
ADVBAdvanced Biomed Inc. Common Stock	6.86M	0.32	-67.45		-135.32%	-77.48%	0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	25.25M	49.84M	90.64M	214.38M	286.73M	373.65M	449.54M	563.95M	739.02M
Revenue Growth %	-	0.97%	0.82%	1.37%	0.34%	0.3%	0.2%	0.25%	0.31%
Cost of Goods Sold+	22.12M	31.62M	43.21M	70.72M	92.53M	122.91M	156.32M	227.05M	289.8M
COGS % of Revenue	0.88%	0.63%	0.48%	0.33%	0.32%	0.33%	0.35%	0.4%	0.39%
Gross Profit+	3.13M	18.22M	47.43M	143.66M	194.19M	250.74M	293.21M	336.9M	449.22M
Gross Margin %	0.12%	0.37%	0.52%	0.67%	0.68%	0.67%	0.65%	0.6%	0.61%
Gross Profit Growth %	-	4.83%	1.6%	2.03%	0.35%	0.29%	0.17%	0.15%	0.33%
Operating Expenses+	46.97M	94.84M	140.37M	226.03M	449.14M	661.74M	837.59M	901.62M	892.81M
OpEx % of Revenue	1.86%	1.9%	1.55%	1.05%	1.57%	1.77%	1.86%	1.6%	1.21%
Selling, General & Admin	36.11M	69.27M	89.66M	139.73M	299.28M	398.52M	463.78M	451.03M	545.06M
SG&A % of Revenue	1.43%	1.39%	0.99%	0.65%	1.04%	1.07%	1.03%	0.8%	0.74%
Research & Development	10.86M	25.56M	50.71M	86.29M	149.86M	263.22M	373.81M	367.19M	347.75M
R&D % of Revenue	0.43%	0.51%	0.56%	0.4%	0.52%	0.7%	0.83%	0.65%	0.47%
Other Operating Expenses	-1K	0	0	88K	0	0	0	83.4M	0
Operating Income+	-43.85M	-76.61M	-92.94M	-82.37M	-254.95M	-411M	-544.38M	-564.73M	-443.59M
Operating Margin %	-1.74%	-1.54%	-1.03%	-0.38%	-0.89%	-1.1%	-1.21%	-1%	-0.6%
Operating Income Growth %	-	-0.75%	-0.21%	0.11%	-2.1%	-0.61%	-0.32%	-0.04%	0.21%
EBITDA+	-40.15M	-71.41M	-85.81M	-68.76M	-238.88M	-388.73M	-508.42M	-521.84M	-401.21M
EBITDA Margin %	-1.59%	-1.43%	-0.95%	-0.32%	-0.83%	-1.04%	-1.13%	-0.93%	-0.54%
EBITDA Growth %	-	-0.78%	-0.2%	0.2%	-2.47%	-0.63%	-0.31%	-0.03%	0.23%
D&A (Non-Cash Add-back)	3.69M	5.21M	7.14M	13.61M	16.07M	22.27M	35.96M	42.88M	42.39M
EBIT	-43.12M	-80.51M	-82.97M	-68.54M	-241.14M	-381.89M	-650.87M	-476.19M	-432.51M
Net Interest Income+	-2.29M	-468K	4.01M	12.56M	5.41M	1.35M	3.49M	32.79M	51.11M
Interest Income	733K	2.23M	5.27M	13.74M	10.17M	3.93M	6.07M	35.37M	53.69M
Interest Expense	3.02M	2.7M	1.25M	1.18M	4.77M	2.58M	2.58M	2.58M	2.58M
Other Income/Expense	-2.29M	-6.6M	8.72M	12.65M	9.05M	26.53M	-109.07M	85.96M	8.51M
Pretax Income+	-46.13M	-83.21M	-84.22M	-69.72M	-245.9M	-384.47M	-653.45M	-478.76M	-435.09M
Pretax Margin %	-1.83%	-1.67%	-0.93%	-0.33%	-0.86%	-1.03%	-1.45%	-0.85%	-0.59%
Income Tax+	6K	7K	38K	-1.87M	379K	300K	1.14M	685K	1.28M
Effective Tax Rate %	1%	1%	1.01%	1.09%	1.03%	1.06%	1%	1%	1%
Net Income+	-46.14M	-83.22M	-85.06M	-75.65M	-253.78M	-405.67M	-654.59M	-479.45M	-436.37M
Net Margin %	-1.83%	-1.67%	-0.94%	-0.35%	-0.89%	-1.09%	-1.46%	-0.85%	-0.59%
Net Income Growth %	-	-0.8%	-0.02%	0.11%	-2.35%	-0.6%	-0.61%	0.27%	0.09%
Net Income (Continuing)	-46.14M	-83.22M	-84.26M	-67.85M	-246.28M	-384.77M	-654.59M	-479.45M	-436.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	41.8M	49.6M	57.1M	0	0	0	0
EPS (Diluted)+	-3.49	-1.18	-1.00	-0.75	-2.53	-3.80	-6.41	-4.28	-3.56
EPS Growth %	-	0.66%	0.15%	0.25%	-2.37%	-0.5%	-0.69%	0.33%	0.17%
EPS (Basic)	-3.49	-1.18	-1.00	-0.75	-2.53	-3.80	-6.41	-4.28	-3.56
Diluted Shares Outstanding	13.22M	70.72M	85.03M	90.6M	97.5M	101.31M	102.18M	111.99M	122.75M
Basic Shares Outstanding	13.22M	70.72M	85.03M	90.6M	97.5M	101.31M	102.18M	111.99M	122.75M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	103.09M	242.94M	468.99M	597.36M	1.89B	1.11B	1.19B	1.35B	1.06B
Cash & Short-Term Investments	95.26M	221.32M	418.96M	522.8M	1.79B	932.75M	1.01B	1.17B	839.98M
Cash Only	33.59M	72.28M	140.54M	143.23M	832.98M	492.2M	141.65M	1.13B	525.54M
Short-Term Investments	61.66M	149.04M	278.42M	379.57M	961.9M	440.55M	869.58M	35.1M	314.44M
Accounts Receivable	3.5M	12.79M	35.69M	47.99M	53.3M	97.65M	97.26M	88.78M	110.25M
Days Sales Outstanding	50.52	93.64	143.72	81.7	67.85	95.39	78.97	57.46	54.45
Inventory	2.77M	7.29M	9.14M	15.18M	22.72M	30.67M	51.6M	61.95M	71.08M
Days Inventory Outstanding	45.68	84.12	77.17	78.35	89.6	91.09	120.48	99.59	89.53
Other Current Assets	0	0	0	0	0	0	31.51M	27.74M	33.8M
Total Non-Current Assets+	13.47M	100M	118.41M	365.18M	383.42M	1.09B	418.39M	439.31M	430.5M
Property, Plant & Equipment	12.63M	16.04M	31M	72.81M	100.13M	313.9M	341.92M	302.71M	279.08M
Fixed Asset Turnover	2.00x	3.11x	2.92x	2.94x	2.86x	1.19x	1.31x	1.86x	2.65x
Goodwill	0	0	0	3.29M	3.29M	3.29M	3.29M	3.29M	3.29M
Intangible Assets	0	8.74M	7.8M	15.41M	16.16M	14.21M	11.73M	8.98M	6.76M
Long-Term Investments	0	73.25M	77.56M	268.78M	246.6M	698.03M	0	0	0
Other Non-Current Assets	840K	1.97M	2.05M	4.88M	17.25M	60.94M	61.45M	124.33M	141.37M
Total Assets+	116.56M	342.94M	587.4M	962.53M	2.27B	2.2B	1.61B	1.79B	1.49B
Asset Turnover	0.22x	0.15x	0.15x	0.22x	0.13x	0.17x	0.28x	0.32x	0.50x
Asset Growth %	-	1.94%	0.71%	0.64%	1.36%	-0.03%	-0.27%	0.11%	-0.17%
Total Current Liabilities+	14.28M	19.63M	46.94M	72.73M	66.81M	194.69M	193.22M	205.92M	225.58M
Accounts Payable	3.16M	5M	10.64M	16.2M	7.34M	38.52M	68.91M	51.74M	38.55M
Days Payables Outstanding	52.08	57.7	89.89	83.6	28.95	114.38	160.9	83.18	48.55
Short-Term Debt	0	0	0	0	0	0	0	0	29.21M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.3M	4.91M	12.99M	18.56M	28.28M	120.5M	55.79M	72.74M	39.13M
Current Ratio	7.22x	12.38x	9.99x	8.21x	28.27x	5.72x	6.17x	6.54x	4.68x
Quick Ratio	7.03x	12.01x	9.80x	8.00x	27.93x	5.57x	5.90x	6.24x	4.36x
Cash Conversion Cycle	44.12	120.07	131	76.46	128.5	72.1	38.54	73.87	95.43
Total Non-Current Liabilities+	22.59M	14.71M	15.51M	41.81M	849.38M	1.36B	1.36B	1.42B	1.4B
Long-Term Debt	16.48M	0	0	0	806.29M	1.13B	1.14B	1.14B	1.14B
Capital Lease Obligations	426K	460K	0	33.26M	41.56M	226.05M	210.01M	185.85M	164.29M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.68M	14.24M	15.51M	8.55M	1.52M	3.93M	9.18M	96.01M	92.83M
Total Liabilities	36.87M	34.33M	62.45M	114.54M	916.19M	1.56B	1.55B	1.63B	1.63B
Total Debt+	17.04M	659K	0	40.4M	854.49M	1.37B	1.37B	1.35B	1.34B
Net Debt	-16.55M	-71.62M	-140.54M	-102.83M	21.51M	881.53M	1.23B	220.23M	810.51M
Debt / Equity	0.21x	0.00x	-	0.05x	0.63x	2.13x	22.75x	8.53x	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-
Interest Coverage	-14.53x	-28.35x	-74.29x	-69.75x	-53.49x	-159.49x	-211.24x	-219.06x	-171.87x
Total Equity+	79.7M	308.61M	524.95M	847.99M	1.36B	645M	60.18M	158.68M	-139.65M
Equity Growth %	-	2.87%	0.7%	0.62%	0.6%	-0.52%	-0.91%	1.64%	-1.88%
Book Value per Share	6.03	4.36	6.17	9.36	13.90	6.37	0.59	1.42	-1.14
Total Shareholders' Equity	79.7M	308.61M	483.15M	798.39M	1.3B	645M	60.18M	158.68M	-139.65M
Common Stock	0	0	1K	1K	1K	1K	1K	1K	1K
Retained Earnings	-107.63M	-195.74M	-280.8M	-352.81M	-606.59M	-1.01B	-1.66B	-2.14B	-2.58B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-86K	-532K	-83K	1.11M	2.7M	-4.76M	-19.52M	-3.67M	-5.2M
Minority Interest	0	0	41.8M	49.6M	57.1M	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-36.71M	-72.23M	-72.19M	-47.13M	-103.93M	-209.02M	-309.46M	-324.98M	-239.86M
Operating CF Margin %	-1.45%	-1.45%	-0.8%	-0.22%	-0.36%	-0.56%	-0.69%	-0.58%	-0.32%
Operating CF Growth %	-	-0.97%	0%	0.35%	-1.2%	-1.01%	-0.48%	-0.05%	0.26%
Net Income	-46.14M	-83.22M	-84.26M	-67.85M	-246.28M	-384.77M	-654.59M	-479.45M	-436.37M
Depreciation & Amortization	3.69M	5.21M	7.14M	11.41M	16.07M	22.27M	35.96M	42.88M	42.39M
Stock-Based Compensation	1.97M	3.67M	6.85M	16.95M	144.11M	151.45M	94.69M	90.76M	140.41M
Deferred Taxes	0	0	0	-1.6M	0	0	0	0	0
Other Non-Cash Items	1.31M	7.1M	-782K	2.25M	29.84M	42.5M	152.91M	-33.01M	74.58M
Working Capital Changes	2.45M	-4.99M	-1.13M	-8.3M	-47.66M	-40.47M	61.56M	53.84M	-60.86M
Change in Receivables	-2.79M	-9.29M	-22.9M	-7.39M	-5.46M	-44.35M	375K	8.38M	-21.39M
Change in Inventory	-351K	-4.52M	-1.85M	-6.04M	-7.54M	-7.96M	-20.93M	-10.35M	-9.13M
Change in Payables	2.15M	1.25M	5.05M	4.34M	-7.86M	8.64M	60.33M	0	-2.82M
Cash from Investing+	26.2M	-170.42M	-153.03M	-317.57M	-617.09M	-63.16M	149.82M	840.25M	-261.31M
Capital Expenditures	-1.77M	-6.68M	-20.2M	-18.72M	-36.17M	-75.03M	-77.46M	-20.49M	-35.09M
CapEx % of Revenue	0.07%	0.13%	0.22%	0.09%	0.13%	0.2%	0.17%	0.04%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	0	-2.3M	0	-2.57M	-17.89M	0	0	0	0
Cash from Financing+	39.84M	281.66M	293.16M	367.3M	1.41B	-66.82M	-189.09M	477.38M	-996K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	266K	765K	39.77M	17.31M	-78M	-66.68M	-189.02M	-15.74M	-15.83M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-38.48M	-81.22M	-92.39M	-68.42M	-157.99M	-284.05M	-386.92M	-345.46M	-274.94M
FCF Margin %	-1.52%	-1.63%	-1.02%	-0.32%	-0.55%	-0.76%	-0.86%	-0.61%	-0.37%
FCF Growth %	-	-1.11%	-0.14%	0.26%	-1.31%	-0.8%	-0.36%	0.11%	0.2%
FCF per Share	-2.91	-1.15	-1.09	-0.76	-1.62	-2.80	-3.79	-3.08	-2.24
FCF Conversion (FCF/Net Income)	0.80x	0.87x	0.85x	0.62x	0.41x	0.52x	0.47x	0.68x	0.55x
Interest Paid	2.24M	1.34M	1.25M	1.18M	0	0	0	0	0
Taxes Paid	14K	26K	102K	298K	331K	393K	1.33M	1.97M	1.01M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-57.89%	-42.86%	-20.41%	-11.02%	-23.03%	-40.55%	-185.65%	-438.12%	-4584.47%
Return on Invested Capital (ROIC)	-52.08%	-38.29%	-22.44%	-10.94%	-18.02%	-21.23%	-29.01%	-50.82%	-63.38%
Gross Margin	12.38%	36.56%	52.33%	67.01%	67.73%	67.11%	65.23%	59.74%	60.79%
Net Margin	-182.74%	-166.97%	-93.85%	-35.29%	-88.51%	-108.57%	-145.61%	-85.02%	-59.05%
Debt / Equity	0.21x	0.00x	-	0.05x	0.63x	2.13x	22.75x	8.53x	-
Interest Coverage	-14.53x	-28.35x	-74.29x	-69.75x	-53.49x	-159.49x	-211.24x	-219.06x	-171.87x
FCF Conversion	0.80x	0.87x	0.85x	0.62x	0.41x	0.52x	0.47x	0.68x	0.55x
Revenue Growth	-	97.4%	81.85%	136.52%	33.75%	30.32%	20.31%	25.45%	31.04%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	77.92M	194.31M	264.66M	352.56M	420.62M	526.52M	697.16M
UNITED STATES Growth	-	149.39%	36.20%	33.21%	19.30%	25.18%	32.41%
Non-US	12.72M	20.06M	22.07M	21.09M	28.92M	37.42M	41.85M
Non-US Growth	-	57.69%	10.02%	-4.44%	37.11%	29.41%	11.84%

Frequently Asked Questions

Growth & Financials

Guardant Health, Inc. (GH) reported $902.6M in revenue for fiscal year 2024. This represents a 3475% increase from $25.2M in 2016.

Guardant Health, Inc. (GH) grew revenue by 31.0% over the past year. This is strong growth.

Guardant Health, Inc. (GH) reported a net loss of $398.8M for fiscal year 2024.

Dividend & Returns

Guardant Health, Inc. (GH) has a return on equity (ROE) of -4584.5%. Negative ROE indicates the company is unprofitable.

Guardant Health, Inc. (GH) had negative free cash flow of $262.2M in fiscal year 2024, likely due to heavy capital investments.

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Guardant Health, Inc. (GH) 10-Year Financial Performance & Capital Metrics

GH • • Industrial / General

HealthcareDiagnostics & ResearchCancer Diagnostics & Oncology TestingLiquid Biopsy & Circulating Tumor DNA

Revenue $739M +31.0%
EBITDA -$401M +23.1%
Net Income -$436M +9.0%
EPS (Diluted) -3.56 +16.8%
Gross Margin 60.79% +1.8%
EBITDA Margin -54.29% +41.3%
Operating Margin -60.02% +40.1%
Net Margin -59.05% +30.5%
ROE -4584.47% -946.4%
ROIC -63.38% -24.7%
Debt/Equity -
Interest Coverage -171.87 +21.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 92 (top 8%)
✓Strong 5Y sales CAGR of 28.1%
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y28.08%

3Y25.52%

TTM30.38%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.17%

EPS CAGR

10Y-

5Y-

3Y-

TTM24.29%

ROCE

10Y Avg-27.62%

5Y Avg-27.33%

3Y Avg-33.56%

Latest-31.23%

Peer Comparison

Liquid Biopsy & Circulating Tumor DNA

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BIAFbioAffinity Technologies, Inc.	6.39M	1.42	-0.06	269.75%	-217.5%	-165.57%	0.58
VNRXVolitionRx Limited	35.61M	0.29	-0.94	59.1%	-15.54%
BDSXBiodesix, Inc.	66.27M	8.33	-1.26	45.3%	-49.31%	-337.3%	2.97
GRALGRAIL, Inc.	3.8B	97.44	-1.53	34.9%	-286.43%	-18.14%	0.03
GHGuardant Health, Inc.	14.54B	111.98	-31.46	31.04%	-44.18%	-45.84%
ADVBAdvanced Biomed Inc. Common Stock	6.86M	0.32	-67.45		-135.32%	-77.48%	0.00

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	25.25M	49.84M	90.64M	214.38M	286.73M	373.65M	449.54M	563.95M	739.02M
Revenue Growth %	-	0.97%	0.82%	1.37%	0.34%	0.3%	0.2%	0.25%	0.31%
Cost of Goods Sold+	22.12M	31.62M	43.21M	70.72M	92.53M	122.91M	156.32M	227.05M	289.8M
COGS % of Revenue	0.88%	0.63%	0.48%	0.33%	0.32%	0.33%	0.35%	0.4%	0.39%
Gross Profit+	3.13M	18.22M	47.43M	143.66M	194.19M	250.74M	293.21M	336.9M	449.22M
Gross Margin %	0.12%	0.37%	0.52%	0.67%	0.68%	0.67%	0.65%	0.6%	0.61%
Gross Profit Growth %	-	4.83%	1.6%	2.03%	0.35%	0.29%	0.17%	0.15%	0.33%
Operating Expenses+	46.97M	94.84M	140.37M	226.03M	449.14M	661.74M	837.59M	901.62M	892.81M
OpEx % of Revenue	1.86%	1.9%	1.55%	1.05%	1.57%	1.77%	1.86%	1.6%	1.21%
Selling, General & Admin	36.11M	69.27M	89.66M	139.73M	299.28M	398.52M	463.78M	451.03M	545.06M
SG&A % of Revenue	1.43%	1.39%	0.99%	0.65%	1.04%	1.07%	1.03%	0.8%	0.74%
Research & Development	10.86M	25.56M	50.71M	86.29M	149.86M	263.22M	373.81M	367.19M	347.75M
R&D % of Revenue	0.43%	0.51%	0.56%	0.4%	0.52%	0.7%	0.83%	0.65%	0.47%
Other Operating Expenses	-1K	0	0	88K	0	0	0	83.4M	0
Operating Income+	-43.85M	-76.61M	-92.94M	-82.37M	-254.95M	-411M	-544.38M	-564.73M	-443.59M
Operating Margin %	-1.74%	-1.54%	-1.03%	-0.38%	-0.89%	-1.1%	-1.21%	-1%	-0.6%
Operating Income Growth %	-	-0.75%	-0.21%	0.11%	-2.1%	-0.61%	-0.32%	-0.04%	0.21%
EBITDA+	-40.15M	-71.41M	-85.81M	-68.76M	-238.88M	-388.73M	-508.42M	-521.84M	-401.21M
EBITDA Margin %	-1.59%	-1.43%	-0.95%	-0.32%	-0.83%	-1.04%	-1.13%	-0.93%	-0.54%
EBITDA Growth %	-	-0.78%	-0.2%	0.2%	-2.47%	-0.63%	-0.31%	-0.03%	0.23%
D&A (Non-Cash Add-back)	3.69M	5.21M	7.14M	13.61M	16.07M	22.27M	35.96M	42.88M	42.39M
EBIT	-43.12M	-80.51M	-82.97M	-68.54M	-241.14M	-381.89M	-650.87M	-476.19M	-432.51M
Net Interest Income+	-2.29M	-468K	4.01M	12.56M	5.41M	1.35M	3.49M	32.79M	51.11M
Interest Income	733K	2.23M	5.27M	13.74M	10.17M	3.93M	6.07M	35.37M	53.69M
Interest Expense	3.02M	2.7M	1.25M	1.18M	4.77M	2.58M	2.58M	2.58M	2.58M
Other Income/Expense	-2.29M	-6.6M	8.72M	12.65M	9.05M	26.53M	-109.07M	85.96M	8.51M
Pretax Income+	-46.13M	-83.21M	-84.22M	-69.72M	-245.9M	-384.47M	-653.45M	-478.76M	-435.09M
Pretax Margin %	-1.83%	-1.67%	-0.93%	-0.33%	-0.86%	-1.03%	-1.45%	-0.85%	-0.59%
Income Tax+	6K	7K	38K	-1.87M	379K	300K	1.14M	685K	1.28M
Effective Tax Rate %	1%	1%	1.01%	1.09%	1.03%	1.06%	1%	1%	1%
Net Income+	-46.14M	-83.22M	-85.06M	-75.65M	-253.78M	-405.67M	-654.59M	-479.45M	-436.37M
Net Margin %	-1.83%	-1.67%	-0.94%	-0.35%	-0.89%	-1.09%	-1.46%	-0.85%	-0.59%
Net Income Growth %	-	-0.8%	-0.02%	0.11%	-2.35%	-0.6%	-0.61%	0.27%	0.09%
Net Income (Continuing)	-46.14M	-83.22M	-84.26M	-67.85M	-246.28M	-384.77M	-654.59M	-479.45M	-436.37M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	41.8M	49.6M	57.1M	0	0	0	0
EPS (Diluted)+	-3.49	-1.18	-1.00	-0.75	-2.53	-3.80	-6.41	-4.28	-3.56
EPS Growth %	-	0.66%	0.15%	0.25%	-2.37%	-0.5%	-0.69%	0.33%	0.17%
EPS (Basic)	-3.49	-1.18	-1.00	-0.75	-2.53	-3.80	-6.41	-4.28	-3.56
Diluted Shares Outstanding	13.22M	70.72M	85.03M	90.6M	97.5M	101.31M	102.18M	111.99M	122.75M
Basic Shares Outstanding	13.22M	70.72M	85.03M	90.6M	97.5M	101.31M	102.18M	111.99M	122.75M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	103.09M	242.94M	468.99M	597.36M	1.89B	1.11B	1.19B	1.35B	1.06B
Cash & Short-Term Investments	95.26M	221.32M	418.96M	522.8M	1.79B	932.75M	1.01B	1.17B	839.98M
Cash Only	33.59M	72.28M	140.54M	143.23M	832.98M	492.2M	141.65M	1.13B	525.54M
Short-Term Investments	61.66M	149.04M	278.42M	379.57M	961.9M	440.55M	869.58M	35.1M	314.44M
Accounts Receivable	3.5M	12.79M	35.69M	47.99M	53.3M	97.65M	97.26M	88.78M	110.25M
Days Sales Outstanding	50.52	93.64	143.72	81.7	67.85	95.39	78.97	57.46	54.45
Inventory	2.77M	7.29M	9.14M	15.18M	22.72M	30.67M	51.6M	61.95M	71.08M
Days Inventory Outstanding	45.68	84.12	77.17	78.35	89.6	91.09	120.48	99.59	89.53
Other Current Assets	0	0	0	0	0	0	31.51M	27.74M	33.8M
Total Non-Current Assets+	13.47M	100M	118.41M	365.18M	383.42M	1.09B	418.39M	439.31M	430.5M
Property, Plant & Equipment	12.63M	16.04M	31M	72.81M	100.13M	313.9M	341.92M	302.71M	279.08M
Fixed Asset Turnover	2.00x	3.11x	2.92x	2.94x	2.86x	1.19x	1.31x	1.86x	2.65x
Goodwill	0	0	0	3.29M	3.29M	3.29M	3.29M	3.29M	3.29M
Intangible Assets	0	8.74M	7.8M	15.41M	16.16M	14.21M	11.73M	8.98M	6.76M
Long-Term Investments	0	73.25M	77.56M	268.78M	246.6M	698.03M	0	0	0
Other Non-Current Assets	840K	1.97M	2.05M	4.88M	17.25M	60.94M	61.45M	124.33M	141.37M
Total Assets+	116.56M	342.94M	587.4M	962.53M	2.27B	2.2B	1.61B	1.79B	1.49B
Asset Turnover	0.22x	0.15x	0.15x	0.22x	0.13x	0.17x	0.28x	0.32x	0.50x
Asset Growth %	-	1.94%	0.71%	0.64%	1.36%	-0.03%	-0.27%	0.11%	-0.17%
Total Current Liabilities+	14.28M	19.63M	46.94M	72.73M	66.81M	194.69M	193.22M	205.92M	225.58M
Accounts Payable	3.16M	5M	10.64M	16.2M	7.34M	38.52M	68.91M	51.74M	38.55M
Days Payables Outstanding	52.08	57.7	89.89	83.6	28.95	114.38	160.9	83.18	48.55
Short-Term Debt	0	0	0	0	0	0	0	0	29.21M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.3M	4.91M	12.99M	18.56M	28.28M	120.5M	55.79M	72.74M	39.13M
Current Ratio	7.22x	12.38x	9.99x	8.21x	28.27x	5.72x	6.17x	6.54x	4.68x
Quick Ratio	7.03x	12.01x	9.80x	8.00x	27.93x	5.57x	5.90x	6.24x	4.36x
Cash Conversion Cycle	44.12	120.07	131	76.46	128.5	72.1	38.54	73.87	95.43
Total Non-Current Liabilities+	22.59M	14.71M	15.51M	41.81M	849.38M	1.36B	1.36B	1.42B	1.4B
Long-Term Debt	16.48M	0	0	0	806.29M	1.13B	1.14B	1.14B	1.14B
Capital Lease Obligations	426K	460K	0	33.26M	41.56M	226.05M	210.01M	185.85M	164.29M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.68M	14.24M	15.51M	8.55M	1.52M	3.93M	9.18M	96.01M	92.83M
Total Liabilities	36.87M	34.33M	62.45M	114.54M	916.19M	1.56B	1.55B	1.63B	1.63B
Total Debt+	17.04M	659K	0	40.4M	854.49M	1.37B	1.37B	1.35B	1.34B
Net Debt	-16.55M	-71.62M	-140.54M	-102.83M	21.51M	881.53M	1.23B	220.23M	810.51M
Debt / Equity	0.21x	0.00x	-	0.05x	0.63x	2.13x	22.75x	8.53x	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-
Interest Coverage	-14.53x	-28.35x	-74.29x	-69.75x	-53.49x	-159.49x	-211.24x	-219.06x	-171.87x
Total Equity+	79.7M	308.61M	524.95M	847.99M	1.36B	645M	60.18M	158.68M	-139.65M
Equity Growth %	-	2.87%	0.7%	0.62%	0.6%	-0.52%	-0.91%	1.64%	-1.88%
Book Value per Share	6.03	4.36	6.17	9.36	13.90	6.37	0.59	1.42	-1.14
Total Shareholders' Equity	79.7M	308.61M	483.15M	798.39M	1.3B	645M	60.18M	158.68M	-139.65M
Common Stock	0	0	1K	1K	1K	1K	1K	1K	1K
Retained Earnings	-107.63M	-195.74M	-280.8M	-352.81M	-606.59M	-1.01B	-1.66B	-2.14B	-2.58B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-86K	-532K	-83K	1.11M	2.7M	-4.76M	-19.52M	-3.67M	-5.2M
Minority Interest	0	0	41.8M	49.6M	57.1M	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-36.71M	-72.23M	-72.19M	-47.13M	-103.93M	-209.02M	-309.46M	-324.98M	-239.86M
Operating CF Margin %	-1.45%	-1.45%	-0.8%	-0.22%	-0.36%	-0.56%	-0.69%	-0.58%	-0.32%
Operating CF Growth %	-	-0.97%	0%	0.35%	-1.2%	-1.01%	-0.48%	-0.05%	0.26%
Net Income	-46.14M	-83.22M	-84.26M	-67.85M	-246.28M	-384.77M	-654.59M	-479.45M	-436.37M
Depreciation & Amortization	3.69M	5.21M	7.14M	11.41M	16.07M	22.27M	35.96M	42.88M	42.39M
Stock-Based Compensation	1.97M	3.67M	6.85M	16.95M	144.11M	151.45M	94.69M	90.76M	140.41M
Deferred Taxes	0	0	0	-1.6M	0	0	0	0	0
Other Non-Cash Items	1.31M	7.1M	-782K	2.25M	29.84M	42.5M	152.91M	-33.01M	74.58M
Working Capital Changes	2.45M	-4.99M	-1.13M	-8.3M	-47.66M	-40.47M	61.56M	53.84M	-60.86M
Change in Receivables	-2.79M	-9.29M	-22.9M	-7.39M	-5.46M	-44.35M	375K	8.38M	-21.39M
Change in Inventory	-351K	-4.52M	-1.85M	-6.04M	-7.54M	-7.96M	-20.93M	-10.35M	-9.13M
Change in Payables	2.15M	1.25M	5.05M	4.34M	-7.86M	8.64M	60.33M	0	-2.82M
Cash from Investing+	26.2M	-170.42M	-153.03M	-317.57M	-617.09M	-63.16M	149.82M	840.25M	-261.31M
Capital Expenditures	-1.77M	-6.68M	-20.2M	-18.72M	-36.17M	-75.03M	-77.46M	-20.49M	-35.09M
CapEx % of Revenue	0.07%	0.13%	0.22%	0.09%	0.13%	0.2%	0.17%	0.04%	0.05%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	0	-2.3M	0	-2.57M	-17.89M	0	0	0	0
Cash from Financing+	39.84M	281.66M	293.16M	367.3M	1.41B	-66.82M	-189.09M	477.38M	-996K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	266K	765K	39.77M	17.31M	-78M	-66.68M	-189.02M	-15.74M	-15.83M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-38.48M	-81.22M	-92.39M	-68.42M	-157.99M	-284.05M	-386.92M	-345.46M	-274.94M
FCF Margin %	-1.52%	-1.63%	-1.02%	-0.32%	-0.55%	-0.76%	-0.86%	-0.61%	-0.37%
FCF Growth %	-	-1.11%	-0.14%	0.26%	-1.31%	-0.8%	-0.36%	0.11%	0.2%
FCF per Share	-2.91	-1.15	-1.09	-0.76	-1.62	-2.80	-3.79	-3.08	-2.24
FCF Conversion (FCF/Net Income)	0.80x	0.87x	0.85x	0.62x	0.41x	0.52x	0.47x	0.68x	0.55x
Interest Paid	2.24M	1.34M	1.25M	1.18M	0	0	0	0	0
Taxes Paid	14K	26K	102K	298K	331K	393K	1.33M	1.97M	1.01M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-57.89%	-42.86%	-20.41%	-11.02%	-23.03%	-40.55%	-185.65%	-438.12%	-4584.47%
Return on Invested Capital (ROIC)	-52.08%	-38.29%	-22.44%	-10.94%	-18.02%	-21.23%	-29.01%	-50.82%	-63.38%
Gross Margin	12.38%	36.56%	52.33%	67.01%	67.73%	67.11%	65.23%	59.74%	60.79%
Net Margin	-182.74%	-166.97%	-93.85%	-35.29%	-88.51%	-108.57%	-145.61%	-85.02%	-59.05%
Debt / Equity	0.21x	0.00x	-	0.05x	0.63x	2.13x	22.75x	8.53x	-
Interest Coverage	-14.53x	-28.35x	-74.29x	-69.75x	-53.49x	-159.49x	-211.24x	-219.06x	-171.87x
FCF Conversion	0.80x	0.87x	0.85x	0.62x	0.41x	0.52x	0.47x	0.68x	0.55x
Revenue Growth	-	97.4%	81.85%	136.52%	33.75%	30.32%	20.31%	25.45%	31.04%

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	77.92M	194.31M	264.66M	352.56M	420.62M	526.52M	697.16M
UNITED STATES Growth	-	149.39%	36.20%	33.21%	19.30%	25.18%	32.41%
Non-US	12.72M	20.06M	22.07M	21.09M	28.92M	37.42M	41.85M
Non-US Growth	-	57.69%	10.02%	-4.44%	37.11%	29.41%	11.84%

Frequently Asked Questions

Growth & Financials

Guardant Health, Inc. (GH) reported $902.6M in revenue for fiscal year 2024. This represents a 3475% increase from $25.2M in 2016.

Guardant Health, Inc. (GH) grew revenue by 31.0% over the past year. This is strong growth.

Guardant Health, Inc. (GH) reported a net loss of $398.8M for fiscal year 2024.

Dividend & Returns

Guardant Health, Inc. (GH) has a return on equity (ROE) of -4584.5%. Negative ROE indicates the company is unprofitable.

Guardant Health, Inc. (GH) had negative free cash flow of $262.2M in fiscal year 2024, likely due to heavy capital investments.