The company's financial flexibility is increasingly constrained by a $1.7B debt load and a negative equity position that has eroded to -$181.1M as of 2026Q1.
| Total Current Assets | 1.37B | 1.47B | 1.06B | 1.35B | 1.19B | 1.11B | 1.89B | 597.36M | 468.99M | 242.94M | 103.09M |
| Cash & Short-Term Investments | 1.1B | 1.2B | 839.98M | 1.17B | 1.01B | 932.75M | 1.79B | 522.8M | 418.96M | 221.32M | 95.26M |
| Cash Only | 989.29M | 378.2M | 525.54M | 1.13B | 141.65M | 492.2M | 832.98M | 143.23M | 140.54M | 72.28M | 33.59M |
| Short-Term Investments | 113.47M | 823.39M | 314.44M | 35.1M | 869.58M | 440.55M | 961.9M | 379.57M | 278.42M | 149.04M | 61.66M |
| Accounts Receivable | 137.4M | 137.85M | 110.25M | 88.78M | 97.26M | 97.65M | 53.3M | 47.99M | 35.69M | 12.79M | 3.5M |
| Days Sales Outstanding | 44.02 | 51.24 | 54.45 | 57.46 | 78.97 | 95.39 | 67.85 | 81.7 | 143.72 | 93.64 | 50.52 |
| Inventory | 83.85M | 85.88M | 71.08M | 61.95M | 51.6M | 30.67M | 22.72M | 15.18M | 9.14M | 7.29M | 2.77M |
| Days Inventory Outstanding | 82.85 | 89.81 | 89.53 | 99.59 | 120.48 | 91.09 | 89.6 | 78.35 | 77.17 | 84.12 | 45.68 |
| Other Current Assets | 43.49M | 40.72M | 33.8M | 27.74M | 31.51M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 547.79M | 547.61M | 430.5M | 439.31M | 418.39M | 1.09B | 383.42M | 365.18M | 118.41M | 100M | 13.47M |
| Property, Plant & Equipment | 303.94M | 304.76M | 279.08M | 302.71M | 341.92M | 313.9M | 100.13M | 72.81M | 31M | 16.04M | 12.63M |
| Fixed Asset Turnover | 3.62x | 3.22x | 2.65x | 1.86x | 1.31x | 1.19x | 2.86x | 2.94x | 2.92x | 3.11x | 2.00x |
| Goodwill | 77.26M | 77.26M | 3.29M | 3.29M | 3.29M | 3.29M | 3.29M | 3.29M | 0 | 0 | 0 |
| Intangible Assets | 25.54M | 25.92M | 6.76M | 8.98M | 11.73M | 14.21M | 16.16M | 15.41M | 7.8M | 8.74M | 0 |
| Long-Term Investments | 252.04M | 0 | 0 | 0 | 0 | 698.03M | 246.6M | 268.78M | 77.56M | 73.25M | 0 |
| Other Non-Current Assets | 141.04M | 139.67M | 141.37M | 124.33M | 61.45M | 60.94M | 17.25M | 4.88M | 2.05M | 1.97M | 840K |
| Total Assets | 1.92B | 2.01B | 1.49B | 1.79B | 1.61B | 2.2B | 2.27B | 962.53M | 587.4M | 342.94M | 116.56M |
| Asset Turnover | 0.66x | 0.49x | 0.50x | 0.32x | 0.28x | 0.17x | 0.13x | 0.22x | 0.15x | 0.15x | 0.22x |
| Asset Growth % | 43.77% | 35.54% | -16.84% | 10.96% | -26.97% | -2.96% | 136.02% | 63.86% | 71.29% | 194.2% | - |
| Total Current Liabilities | 292.14M | 302.73M | 225.58M | 205.92M | 193.22M | 194.69M | 66.81M | 72.73M | 46.94M | 19.63M | 14.28M |
| Accounts Payable | 75.03M | 54.44M | 38.55M | 51.74M | 68.91M | 38.52M | 7.34M | 16.2M | 10.64M | 5M | 3.16M |
| Days Payables Outstanding | 46.78 | 56.94 | 48.55 | 83.18 | 160.9 | 114.38 | 28.95 | 83.6 | 89.89 | 57.7 | 52.08 |
| Short-Term Debt | 0 | 0 | 29.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 199.74M | 50.75M | 35.47M | 17.96M | 17.4M | 11.33M | 8.55M | 12.28M | 16.14M | 3.11M | 1.9M |
| Other Current Liabilities | 169.34M | 197.53M | 39.13M | 72.74M | 55.79M | 120.5M | 28.28M | 18.56M | 12.99M | 4.91M | 7.3M |
| Current Ratio | 4.68x | 4.84x | 4.68x | 6.54x | 6.17x | 5.72x | 28.27x | 8.21x | 9.99x | 12.38x | 7.22x |
| Quick Ratio | 4.39x | 4.56x | 4.36x | 6.24x | 5.90x | 5.57x | 27.93x | 8.00x | 9.80x | 12.01x | 7.03x |
| Cash Conversion Cycle | 80.08 | 84.11 | 95.43 | 73.87 | 38.54 | 72.1 | 128.5 | 76.46 | 131 | 120.07 | 44.12 |
| Total Non-Current Liabilities | 1.8B | 1.81B | 1.4B | 1.42B | 1.36B | 1.36B | 849.38M | 41.81M | 15.51M | 14.71M | 22.59M |
| Long-Term Debt | 1.68B | 1.68B | 1.14B | 1.14B | 1.14B | 1.13B | 806.29M | 0 | 0 | 0 | 16.48M |
| Capital Lease Obligations | 377.74M | 0 | 164.29M | 185.85M | 210.01M | 226.05M | 41.56M | 33.26M | 0 | 460K | 426K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 127.69M | 127.77M | 92.83M | 96.01M | 9.18M | 3.93M | 1.52M | 8.55M | 15.51M | 14.24M | 5.68M |
| Total Liabilities | 2.1B | 2.11B | 1.63B | 1.63B | 1.55B | 1.56B | 916.19M | 114.54M | 62.45M | 34.33M | 36.87M |
| Total Debt | 1.68B | 1.68B | 1.34B | 1.35B | 1.37B | 1.37B | 854.49M | 40.4M | 0 | 659K | 17.04M |
| Net Debt | 687.24M | 1.3B | 810.51M | 220.23M | 1.23B | 881.53M | 21.51M | -102.83M | -140.54M | -71.62M | -16.55M |
| Debt / Equity | -9.26x | - | - | 8.53x | 22.75x | 2.13x | 0.63x | 0.05x | - | 0.00x | 0.21x |
| Debt / EBITDA | -4.10x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.68x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -96.55x | -106.14x | -167.57x | -184.71x | -252.57x | -148.19x | -50.60x | -58.04x | -66.33x | -29.80x | -14.29x |
| Total Equity | -181.07M | -99.31M | -139.65M | 158.68M | 60.18M | 645M | 1.36B | 847.99M | 524.95M | 308.61M | 79.7M |
| Equity Growth % | -19271.47% | 28.89% | -188% | 163.68% | -90.67% | -52.42% | 59.86% | 61.54% | 70.1% | 287.23% | - |
| Book Value per Share | -1.38 | -0.79 | -1.14 | 1.42 | 0.59 | 6.37 | 13.90 | 9.36 | 6.17 | 4.36 | 6.03 |
| Total Shareholders' Equity | -181.07M | -99.31M | -139.65M | 158.68M | 60.18M | 645M | 1.3B | 798.39M | 483.15M | 308.61M | 79.7M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 1K | 0 | 0 |
| Retained Earnings | -3.11B | -2.99B | -2.58B | -2.14B | -1.66B | -1.01B | -606.59M | -352.81M | -280.8M | -195.74M | -107.63M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -5.15M | -4.85M | -5.2M | -3.67M | -19.52M | -4.76M | 2.7M | 1.11M | -83K | -532K | -86K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 57.1M | 49.6M | 41.8M | 0 | 0 |
Liquidity and Solvency Pressure
As reported in recent financial filings, Guardant Health’s equity position has deteriorated into negative territory, falling to -$181.1M in 2026Q1 from a positive $158.7M in 2023Q4, which suggests that persistent operating losses are rapidly consuming the company's net worth and limiting its future financial flexibility.
The consistent decline in equity reflects the ongoing challenge of funding high-growth R&D and commercialization efforts through accumulated deficits. This trajectory warrants close monitoring, as the transition to a negative equity position may complicate future capital raising efforts and increase the cost of debt financing.
Based on the provided quarterly data, Guardant Health’s cash reserves dropped from $1.1B in 2023Q4 to $989.3M in 2026Q1, a trend that indicates the company is burning through its liquidity buffer to sustain its aggressive expansion into the colorectal cancer screening market.
While the current ratio remains elevated at 4.68, the absolute decline in cash highlights the intensity of the company's cash-burn profile. Investors should consider whether current liquidity levels are sufficient to reach a self-sustaining operational state before additional dilutive financing becomes a necessity.
According to balance sheet disclosures, Guardant Health carries a substantial debt load of $1.7B as of 2026Q1, which has increased from $1.4B in 2023Q4, signaling that the company is relying heavily on external credit to bridge the gap between its current revenue and its massive operating expenses.
The reliance on debt in the absence of positive operating cash flow suggests a high-risk capital structure that is sensitive to interest rate fluctuations. This leverage profile may limit the company's ability to pivot its strategy if the commercial rollout of the Shield platform encounters regulatory or competitive headwinds.
As indicated by the company's financial statements, the accumulation of -$3.1B in retained earnings by 2026Q1 serves as a stark reminder of the long-term capital intensity required to build the Guardant360 platform, potentially obscuring the true economic cost of its current market share acquisition strategy.
The sheer scale of these losses suggests that the business model is fundamentally dependent on achieving massive scale to reach profitability. Analysts should be wary of assuming that current revenue growth will naturally lead to margin expansion without a significant reduction in the underlying cost structure.
Quick answers to the most common questions about buying GH stock.
As of 2025, Guardant Health, Inc. (GH) had total assets of $2.01B including $1.47B in current assets.
Guardant Health, Inc. (GH) carries total debt of $1.68B, offset by $1.20B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Guardant Health, Inc. (GH) has total shareholders' equity (book value) of $-99.3M ($-0.79 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Guardant Health, Inc. (GH) reported a current ratio of 4.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.