The company has significantly improved its financial position by reducing total debt to $17.8M as of 2026Q1, resulting in a robust current ratio of 3.40.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 269.39M | 257.13M | 351.83M | 313.71M | 387.85M | 433.36M | 273.1M | 71.92M | 81.11M | 26.77M | 26.67M | 34.36M | 40.35M | 8.17M | 7.61M |
| Cash & Short-Term Investments | 187.18M | 177.21M | 260.65M | 235.42M | 293.09M | 348.49M | 224.7M | 38.22M | 64.62M | 16.89M | 17.26M | 29.89M | 36.43M | 5.13M | 5.83M |
| Cash Only | 77.92M | 65.43M | 114.69M | 82.2M | 89.92M | 348.49M | 134.67M | 38.22M | 64.62M | 16.89M | 17.26M | 29.89M | 36.43M | 5.13M | 5.83M |
| Short-Term Investments | 109.25M | 111.78M | 145.96M | 153.22M | 203.17M | 0 | 90.03M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 44.59M | 42.63M | 64.61M | 51.06M | 66.31M | 59.76M | 34.62M | 24.06M | 9.76M | 2.99M | 2.77M | 2.37M | 2.69M | 2.27M | 952K |
| Days Sales Outstanding | 44.74 | 40.97 | 70.65 | 66.48 | 75.22 | 73.59 | 65.76 | 69.1 | 46.53 | 22.59 | 24.87 | 30.7 | 35.92 | 37.49 | 16.99 |
| Inventory | 26.4M | 26.7M | 19.5M | 19.47M | 19.23M | 17.19M | 10.01M | 6.01M | 4.94M | 5.53M | 5.46M | 766K | 686K | 518K | 576K |
| Days Inventory Outstanding | 103.78 | 77.74 | 64.93 | 69.68 | 62.56 | 64.41 | 57.9 | 48.29 | 54.69 | 94.43 | 94.37 | 27.22 | 29.32 | 20.83 | 26.51 |
| Other Current Assets | 11.23M | 10.59M | 7.07M | 7.76M | 9.22M | 0 | 0 | 0 | 1.79M | 1.35M | 1.19M | 1.34M | 542K | 0 | 0 |
| Total Non-Current Assets | 141.67M | 156.1M | 139.22M | 153.11M | 155.14M | 133.26M | 95.41M | 79.81M | 49.58M | 56.8M | 50.06M | 21.28M | 20.8M | 1.7M | 2.27M |
| Property, Plant & Equipment | 54.36M | 55.73M | 57.89M | 65.14M | 70.22M | 40.04M | 25.93M | 9.16M | 4.13M | 2.08M | 2.93M | 2.42M | 1.97M | 1.55M | 2.12M |
| Fixed Asset Turnover | 7.43x | 6.81x | 5.77x | 4.30x | 4.58x | 7.40x | 7.41x | 13.87x | 18.52x | 23.29x | 13.86x | 11.61x | 13.88x | 14.23x | 9.66x |
| Goodwill | 40.34M | 40.34M | 40.34M | 40.34M | 37.52M | 36.98M | 23.86M | 23.86M | 12.01M | 12.01M | 13.84M | 12.01M | 12.01M | 0 | 0 |
| Intangible Assets | 32.1M | 31.96M | 38.18M | 45.7M | 43.05M | 50.2M | 44.35M | 45.54M | 33.25M | 33.14M | 33.12M | 6.65M | 6.65M | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 192K | 9.58M | 143K | 147K | 0 | 0 | 0 |
| Other Non-Current Assets | 14.87M | 28.07M | 2.81M | 1.94M | 4.35M | 6.05M | 1.27M | 1.26M | -3.49M | -2.64M | -2.92M | 196K | 172K | 149K | 152K |
| Total Assets | 411.06M | 413.23M | 491.05M | 466.83M | 542.99M | 566.62M | 368.51M | 151.74M | 130.7M | 83.56M | 76.73M | 55.64M | 61.14M | 9.87M | 9.88M |
| Asset Turnover | 0.97x | 0.92x | 0.68x | 0.60x | 0.59x | 0.52x | 0.52x | 0.84x | 0.59x | 0.58x | 0.53x | 0.51x | 0.45x | 2.24x | 2.07x |
| Asset Growth % | -46.09% | -15.85% | 5.19% | -14.03% | -4.17% | 53.76% | 142.86% | 16.1% | 56.4% | 8.91% | 37.91% | -9% | 519.27% | -0.03% | - |
| Total Current Liabilities | 79.15M | 89.85M | 89.37M | 78.07M | 75.97M | 77.3M | 69.22M | 34.83M | 19.5M | 42.91M | 40.83M | 10.15M | 11.13M | 7.59M | 6.44M |
| Accounts Payable | 9.07M | 9.99M | 7.69M | 12.87M | 9.94M | 13.34M | 9.65M | 5.51M | 4.71M | 3.39M | 3.06M | 1.64M | 1.13M | 618K | 637K |
| Days Payables Outstanding | 38.45 | 29.08 | 25.59 | 46.06 | 32.34 | 49.99 | 55.82 | 44.21 | 52.13 | 57.92 | 52.96 | 58.41 | 48.21 | 24.85 | 29.32 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.72M | 22.85M | 2.87M | 5.96M | 4.46M | 1.46M |
| Deferred Revenue (Current) | 5.95M | 0 | 4.85M | 4.75M | 5.34M | 4.21M | 24.03M | 3.69M | 39K | 39K | 42K | 142K | 505K | 80K | 813K |
| Other Current Liabilities | 70.09M | 79.86M | 41.12M | 26.24M | 21.3M | 32.77M | 21.2M | 15.39M | 9.16M | 18.77M | 5.82M | 2.9M | 202K | 860K | 2.45M |
| Current Ratio | 3.40x | 2.86x | 3.94x | 4.02x | 5.10x | 5.61x | 3.95x | 2.07x | 4.16x | 0.62x | 0.65x | 3.38x | 3.62x | 1.08x | 1.18x |
| Quick Ratio | 3.07x | 2.56x | 3.72x | 3.77x | 4.85x | 5.38x | 3.80x | 1.89x | 3.91x | 0.49x | 0.52x | 3.31x | 3.56x | 1.01x | 1.09x |
| Cash Conversion Cycle | 110.07 | 89.63 | 109.99 | 90.1 | 105.43 | 88.02 | 67.83 | 73.18 | 49.09 | 59.11 | 66.27 | -0.5 | 17.03 | 33.47 | 14.18 |
| Total Non-Current Liabilities | 18.37M | 20.28M | 23.25M | 127.43M | 36.1M | 23.44M | 21.61M | 17.91M | 15.27M | 46.61M | 16.14M | 15.99M | 8.71M | 152.95M | 150.64M |
| Long-Term Debt | 17.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.34M | 1.1M | 12.89M | 5.45M | 10.91M | 13.41M |
| Capital Lease Obligations | 63.67M | 19.68M | 22.26M | 28.28M | 33.41M | 17.39M | 16.07M | 2.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 442K | 181K | 164K | 136K | 0 | 415K | 1.3M | 1.97M | 2.97M | 4.93M | 6.06M | 1.43M | 1.68M | 0 | 0 |
| Other Non-Current Liabilities | 407K | 418K | 819K | 99.01M | 2.7M | 5.63M | 4.25M | 13.56M | 11.61M | 22.61M | 8.22M | 2.4M | 2.79M | 140.42M | 137.23M |
| Total Liabilities | 97.53M | 110.13M | 112.62M | 205.5M | 112.08M | 100.75M | 90.83M | 52.74M | 34.77M | 89.52M | 56.97M | 26.14M | 19.84M | 160.55M | 157.08M |
| Total Debt | 17.84M | 19.68M | 28.37M | 34.22M | 39M | 21.35M | 18.1M | 5.39M | 172K | 34.06M | 23.94M | 15.75M | 11.41M | 15.42M | 14.92M |
| Net Debt | -60.09M | -45.75M | -86.32M | -47.98M | -50.92M | -327.13M | -116.57M | -32.84M | -64.44M | 17.16M | 6.69M | -14.13M | -25.02M | 10.29M | 9.09M |
| Debt / Equity | 0.06x | 0.06x | 0.07x | 0.13x | 0.09x | 0.05x | 0.07x | 0.05x | 0.00x | - | 1.21x | 0.53x | 0.28x | - | - |
| Debt / EBITDA | 10.61x | - | 0.47x | - | - | - | - | - | - | - | - | - | 6.48x | - | - |
| Net Debt / EBITDA | -35.74x | - | -1.43x | - | - | - | - | - | - | - | - | - | -14.20x | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | -4.21x | -3.13x | -13.32x | -7.60x | 0.01x | -0.40x | -0.87x |
| Total Equity | 313.54M | 303.1M | 378.43M | 261.33M | 430.91M | 465.88M | 277.68M | 99M | 95.93M | -5.95M | 19.76M | 29.49M | 41.3M | -150.67M | -147.2M |
| Equity Growth % | 0.3% | -19.91% | 44.81% | -39.35% | -7.51% | 67.77% | 180.48% | 3.2% | 1711.15% | -130.13% | -33% | -28.58% | 127.41% | -2.36% | - |
| Book Value per Share | 5.90 | 5.69 | 6.68 | 4.86 | 8.08 | 8.92 | 5.97 | 2.35 | 2.69 | -0.26 | 1.20 | 2.49 | 4.45 | -20.44 | -19.97 |
| Total Shareholders' Equity | 313.54M | 303.1M | 378.43M | 261.33M | 430.91M | 465.88M | 277.68M | 99M | 95.93M | -6.13M | 19.48M | 29.49M | 41.3M | -150.67M | -147.2M |
| Common Stock | 51K | 50K | 51K | 49K | 52K | 52K | 49K | 42K | 41K | 29K | 21K | 12K | 12K | 1K | 1K |
| Retained Earnings | -732.55M | -735.36M | -626.24M | -678.27M | -460.44M | -383.19M | -352.53M | -333.81M | -311.85M | -268.02M | -212.55M | -173.08M | -159.38M | -160.16M | -156.61M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9.41M |
| Accumulated OCI | -6.27M | -5.51M | -8.57M | -6.96M | -7.5M | -4.67M | -2.1M | -5.21M | -4.28M | -2.35M | -3.66M | -11.87M | -11.09M | -10.9M | -10.33M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 180K | 279K | 0 | 0 | 0 | 0 |
Medicare reimbursement policy volatility
According to recent quarterly filings, CareDx has successfully reduced total liabilities from $205.5M in 2023Q4 to $97.5M by 2026Q1, signaling a deliberate effort to deleverage the balance sheet while simultaneously supporting the company's accelerating revenue growth trajectory in the competitive transplant diagnostics market.
The reduction in total liabilities suggests a more disciplined approach to capital management, potentially mitigating the risks associated with previous periods of high debt. Investors should monitor whether this trend of liability reduction can be sustained without compromising the R&D and sales force investments necessary to maintain market share.
As reported in financial statements, CareDx has systematically lowered its total debt from $34.2M in 2023Q4 to $17.8M in 2026Q1, resulting in a D/E ratio of 0.06, which indicates a significantly improved capacity to navigate potential regulatory-driven revenue shocks in the transplant surveillance sector.
The consistent paydown of debt obligations appears to be a strategic move to lower interest expenses and improve the company's overall risk profile. This reduction in leverage may provide the firm with greater operational flexibility to weather the ongoing volatility in Medicare reimbursement policies.
Based on the company's reported figures, the current ratio has improved to 3.40 as of 2026Q1, providing a sufficient liquidity buffer to cover short-term obligations despite the inherent cash-flow volatility associated with the company's reliance on complex insurance reimbursement cycles for its diagnostic testing services.
While the current ratio remains healthy, the absolute cash position of $77.9M warrants careful observation given the company's history of significant working capital swings. The liquidity position appears adequate for current operations, but investors should remain cautious regarding the potential for future cash burn if reimbursement headwinds intensify.
Data from recent filings reveals that CareDx's equity base remains pressured by a substantial accumulated deficit of $732.5M as of 2026Q1, which highlights the long-term challenge of achieving consistent GAAP profitability despite the company's established position within the transplant ecosystem.
The persistent negative retained earnings suggest that the company has historically prioritized aggressive market expansion and acquisition-led growth over immediate bottom-line returns. This structure implies that equity value is highly sensitive to the company's ability to eventually scale its diagnostic services to a point of sustained profitability.
Quick answers to the most common questions about buying CDNA stock.
As of 2025, CareDx, Inc (CDNA) had total assets of $413.2M including $257.1M in current assets.
CareDx, Inc (CDNA) carries total debt of $19.7M, offset by $177.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CareDx, Inc (CDNA) has total shareholders' equity (book value) of $303.1M ($5.69 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CareDx, Inc (CDNA) reported a current ratio of 2.86x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.