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GRAL logoGRAIL, Inc.(GRAL)Earnings, Financials & Key Ratios

GRAL•NASDAQ
$62.75
$2.57B mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryDiagnostics & ResearchSub-IndustryMolecular and Genetic Diagnostics
AboutGRAIL, Inc., a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer. It is also developing minimal residual disease and other post-diagnostic tests. The company was incorporated in 2015 and is based in Menlo Park, California. GRAIL, Inc. operates as a former subsidiary of Illumina, Inc.Show more
  • Revenue$147M+17.2%
  • EBITDA-$378M+81.4%
  • Net Income-$408M+79.9%
  • EPS (Diluted)-11.11+82.5%
  • Gross Margin-42.52%+31.6%
  • EBITDA Margin-256.72%+84.1%
  • Operating Margin-362.95%+79.2%
  • Net Margin-277.47%+82.8%
  • ROE-16.07%+75.6%
  • ROIC-16.75%+69.4%
  • Debt/Equity0.04+39.7%
Technical→

GRAL Key Insights

GRAIL, Inc. (GRAL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Shares diluted 15.2% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GRAL Price & Volume

GRAIL, Inc. (GRAL) stock price & volume — 10-year historical chart

Loading chart...

GRAL Growth Metrics

GRAIL, Inc. (GRAL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years38.37%
TTM17.18%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM79.85%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM82.78%

Return on Capital

10 Years-43.45%
5 Years-41.2%
3 Years-36.43%
Last Year-18.58%

GRAL Recent Earnings

GRAIL, Inc. (GRAL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (86%)●Beat Revenue 5/12 qtrs (71%)
Q2 2026Latest
May 5, 2026
EPS
$2.29
Est $2.76
+17.1%
Revenue
$41M
Est $39M
+4.2%
Q1 2026
Feb 19, 2026
EPS
$2.44
Est $3.33
+26.7%
Revenue
$44M
Est $44M
+0.0%
Q4 2025
Nov 12, 2025
EPS
$2.46
Est $3.36
+26.8%
Revenue
$36M
Est $35M
+4.6%
Q3 2025
Aug 12, 2025
EPS
$3.18
Est $3.14
-1.3%
Revenue
$36M
Est $34M
+4.2%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$2.29vs $2.76+17.1%
$41Mvs $39M+4.2%
Q1 2026Feb 19, 2026
$2.44vs $3.33+26.7%
$44Mvs $44M+0.0%
Q4 2025Nov 12, 2025
$2.46vs $3.36+26.8%
$36Mvs $35M+4.6%
Q3 2025Aug 12, 2025
$3.18vs $3.14-1.3%
$36Mvs $34M+4.2%
Based on last 12 quarters of dataView full earnings history →

GRAL Peer Comparison

GRAIL, Inc. (GRAL) competitors in Molecular and Genetic Diagnostics — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EXAS logoEXASExact Sciences CorporationDirect Competitor20.02B104.91-95.3717.69%-6.4%-8.66%1.05
ILMN logoILMNIllumina, Inc.Direct Competitor21.66B142.5826.16-0.78%19.43%32.84%0.94
GH logoGHGuardant Health, Inc.Direct Competitor11.53B92.25-27.7932.88%-44.18%
NTRA logoNTRANatera, Inc.Direct Competitor29.58B215.09-140.5856.75%-14.61%-24.69%0.16
FDMT logoFDMT4D Molecular Therapeutics, Inc.Direct Competitor600.27M10.42-4.312301.95%-164.43%-31.75%0.04
ACMR logoACMRACM Research, Inc.Product Competitor3.67B55.3840.4215.24%10.44%6.11%0.16
CDNA logoCDNACareDx, IncProduct Competitor1.08B20.94-52.3513.79%-1.98%-2.61%0.06
PACB logoPACBPacific Biosciences of California, Inc.Product Competitor516.17M1.71-1.60-23.19%-325.8%-13.95%1.33

Compare GRAL vs Peers

GRAIL, Inc. (GRAL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EXAS

Most directly comparable listed peer for GRAL.

Scale Benchmark

vs TMO

Larger-name benchmark to compare GRAL against a more recognizable public peer.

Peer Set

Compare Top 5

vs EXAS, ILMN, GH, NTRA

GRAL Income Statement

GRAIL, Inc. (GRAL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue00014.61M55.55M93.11M125.59M147.17M
Revenue Growth %----280.17%67.61%34.9%17.18%
Cost of Goods Sold000114.61M172M188.72M203.62M209.75M
COGS % of Revenue---784.39%309.63%202.69%162.12%142.52%
Gross Profit
0▲ 0%
0▲ 0%
0▲ 0%
-100M▲ 0%
-116.45M▼ 16.4%
-95.61M▲ 17.9%
-78.02M▲ 18.4%
-62.57M▲ 19.8%
Gross Margin %----684.39%-209.63%-102.69%-62.12%-42.52%
Gross Profit Growth %-----16.44%17.89%18.4%19.8%
Operating Expenses287.5M255.66M316.42M1.17B5.33B1.42B2.11B471.59M
OpEx % of Revenue---7975.22%9588.56%1524.91%1680.91%320.43%
Selling, General & Admin64.34M88.58M123.51M234.06M296.44M362.56M367.82M275.8M
SG&A % of Revenue---1601.81%533.64%389.41%292.86%187.4%
Research & Development223.16M167.09M192.91M460.21M329.58M338.75M322.38M195.79M
R&D % of Revenue---3149.55%593.3%363.83%256.68%133.04%
Other Operating Expenses000471.07M4.7B718.47M1.42B0
Operating Income
-287.5M▲ 0%
-255.66M▲ 11.1%
-316.42M▼ 23.8%
-1.27B▼ 299.9%
-5.44B▼ 330.2%
-1.52B▲ 72.2%
-2.19B▼ 44.5%
-534.16M▲ 75.6%
Operating Margin %----8659.61%-9798.18%-1627.61%-1743.03%-362.95%
Operating Income Growth %-11.07%-23.76%-299.9%-330.15%72.16%-44.46%75.6%
EBITDA-273.42M-245.36M-308.85M-1.21B-5.29B-1.36B-2.03B-377.82M
EBITDA Margin %----8259.6%-9519.58%-1457.16%-1617.18%-256.72%
EBITDA Growth %-10.26%-25.88%-290.77%-338.16%74.34%-49.71%81.4%
D&A (Non-Cash Add-back)14.08M10.31M7.56M58.45M154.76M158.7M158.06M156.34M
EBIT-283.5M-253.44M-316.3M-1.27B-742.46M-796.92M-768.22M-534.16M
Net Interest Income8.34M12.43M6.14M332K1.74M7.95M26.73M28.65M
Interest Income8.34M12.43M6.14M332K1.74M7.95M26.73M28.65M
Interest Expense00000000
Other Income/Expense12.26M10.61M4.29M90K1.5M7.75M26.8M-341K
Pretax Income
-275.23M▲ 0%
-245.05M▲ 11.0%
-312.12M▼ 27.4%
-1.27B▼ 305.4%
-5.44B▼ 330.1%
-1.51B▲ 72.3%
-2.16B▼ 43.4%
-534.5M▲ 75.3%
Pretax Margin %----8658.99%-9795.48%-1619.29%-1721.69%-363.18%
Income Tax485K-195K33K-17.48M-42.29M-41.95M-135.36M-126.15M
Effective Tax Rate %-0.18%0.08%-0.01%1.38%0.78%2.78%6.26%23.6%
Net Income
-275.72M▲ 0%
-244.85M▲ 11.2%
-312.16M▼ 27.5%
-1.25B▼ 299.7%
-5.4B▼ 332.7%
-1.47B▲ 72.9%
-2.03B▼ 38.3%
-408.35M▲ 79.9%
Net Margin %----8539.39%-9719.35%-1574.23%-1613.92%-277.47%
Net Income Growth %-11.19%-27.49%-299.73%-332.7%72.85%-38.3%79.85%
Net Income (Continuing)-275.72M-244.85M-312.16M-1.25B-5.4B-1.47B-2.03B-408.35M
Discontinued Operations00000000
Minority Interest00000000
EPS (Diluted)
-2.42▲ 0%
-1.99▲ 17.8%
-2.52▼ 26.6%
-40.18▼ 1494.4%
-173.87▼ 332.7%
-47.20▲ 72.9%
-63.54▼ 34.6%
-11.11▲ 82.5%
EPS Growth %-17.77%-26.63%-1494.44%-332.73%72.85%-34.62%82.52%
EPS (Basic)-2.42-1.99-2.52-40.18-173.87-47.20-63.54-11.11
Diluted Shares Outstanding114.14M123.19M123.67M31.05M31.05M31.05M31.9M36.75M
Basic Shares Outstanding114.14M123.19M123.67M31.05M31.05M31.05M31.9M36.75M
Dividend Payout Ratio--------

GRAL Balance Sheet

GRAIL, Inc. (GRAL) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets649.23M557.51M595.92M242.73M295.63M156.06M819.86M953.85M
Cash & Short-Term Investments641.35M544.34M583.48M221.16M241.6M97.29M763.47M904.43M
Cash Only95.09M143.19M170.19M221.16M241.6M97.29M214.23M249.73M
Short-Term Investments546.26M401.15M413.29M000549.24M654.7M
Accounts Receivable0006.88M18.61M22.35M24.64M18.3M
Days Sales Outstanding---171.91122.3187.6371.6145.37
Inventory000019.75M21.7M18.63M16.02M
Days Inventory Outstanding----41.9241.9633.427.87
Other Current Assets0006.89M00015.11M
Total Non-Current Assets37.61M78.01M110.38M9.5B5.31B4.4B2.16B1.97B
Property, Plant & Equipment33.04M59.46M101.39M216.37M198.72M169.38M135.43M103.88M
Fixed Asset Turnover---0.07x0.28x0.55x0.93x1.42x
Goodwill0006.2B1.5B888.94M00
Intangible Assets0003.07B2.94B2.69B2.02B1.85B
Long-Term Investments1.63M15.16M2.05M04.53M4.22M06.97M
Other Non-Current Assets2.94M3.38M6.94M7.1M6.14M7.98M11.12M6.75M
Total Assets
686.85M▲ 0%
635.52M▼ 7.5%
706.3M▲ 11.1%
9.74B▲ 1278.7%
5.6B▼ 42.5%
4.56B▼ 18.7%
2.98B▼ 34.5%
2.92B▼ 2.1%
Asset Turnover---0.00x0.01x0.02x0.04x0.05x
Asset Growth %--7.47%11.14%1278.73%-42.47%-18.66%-34.53%-2.05%
Total Current Liabilities74.16M44.93M83.97M97.89M134.94M163.61M76.92M79.67M
Accounts Payable12.75M6.09M24.51M17.65M17.48M19.67M4.84M2.08M
Days Payables Outstanding---56.237.138.058.683.62
Short-Term Debt000013.34M14.81M011.71M
Deferred Revenue (Current)0000001.6M0
Other Current Liabilities267K23K12.41M4.51M65.96M87.64M22.69M65.87M
Current Ratio8.75x12.41x7.10x2.48x2.19x0.95x10.66x11.97x
Quick Ratio8.75x12.41x7.10x2.48x2.04x0.82x10.42x11.77x
Cash Conversion Cycle----127.1491.5496.3369.62
Total Non-Current Liabilities12.32M40.06M60.49M209.51M821M747.13M402.98M264.48M
Long-Term Debt000000043.15M
Capital Lease Obligations800K36.64M57.54M96.75M82.67M69.6M54.88M43.15M
Deferred Tax Liabilities0000735.19M676.03M345.86M218.58M
Other Non-Current Liabilities11.52M3.42M2.95M112.76M3.13M1.5M2.24M-40.4M
Total Liabilities86.47M84.99M144.46M307.4M955.94M910.74M479.9M344.15M
Total Debt2.52M42.04M62.99M110.56M96.01M84.41M68.14M98.01M
Net Debt-92.57M-101.15M-107.21M-110.6M-145.59M-12.88M-146.09M-151.72M
Debt / Equity0.00x0.08x0.11x0.01x0.02x0.02x0.03x0.04x
Debt / EBITDA--------
Net Debt / EBITDA--------
Interest Coverage--------
Total Equity
600.37M▲ 0%
550.53M▼ 8.3%
561.84M▲ 2.1%
9.43B▲ 1578.5%
4.65B▼ 50.7%
3.65B▼ 21.5%
2.5B▼ 31.3%
2.58B▲ 3.0%
Equity Growth %--8.3%2.05%1578.52%-50.73%-21.52%-31.34%2.97%
Book Value per Share5.264.474.54303.69149.62117.4278.4770.14
Total Shareholders' Equity600.37M550.53M561.84M9.43B4.65B3.65B2.5B2.58B
Common Stock129K138K151K10.34B10.96B11.42B34K40K
Retained Earnings-1.06B-1.31B-1.62B-911.54M-6.31B-7.78B-9.8B-10.21B
Treasury Stock00000000
Accumulated OCI128K2.46M3.6M315K894K1.07M1.45M2.65M
Minority Interest00000000

GRAL Cash Flow Statement

GRAIL, Inc. (GRAL) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-209.26M-245.79M-232M-688.13M-561.31M-595.8M-577.16M-299.01M
Operating CF Margin %----4709.35%-1010.46%-639.92%-459.54%-203.17%
Operating CF Growth %--17.46%5.61%-196.61%18.43%-6.14%3.13%48.19%
Net Income-275.72M-244.85M-312.16M-1.25B-5.4B-1.47B-2.03B-408.35M
Depreciation & Amortization14.08M10.31M7.56M58.45M154.76M158.7M158.06M0
Stock-Based Compensation11.04M28.39M45.99M681.91M75.73M97.23M86.08M0
Deferred Taxes0000-39.06M-38.15M-134.25M0
Other Non-Cash Items1.66M-353K9.38M-201M4.66B644.38M1.36B96.94M
Working Capital Changes39.67M-39.28M17.22M20.29M-14.46M7.72M-24.28M12.41M
Change in Receivables000-6.88M-8.68M-1.38M-3.37M1.69M
Change in Inventory000-5.67M-14.08M-1.94M3.07M2.62M
Change in Payables-338K-6.55M002.34M2.89M-14.63M-2.73M
Cash from Investing-93.39M133.04M-12.79M344.81M-22.86M-12.89M-551.01M-85.05M
Capital Expenditures-15.99M-3.33M-11.9M-69.93M-22.86M-12.89M-5.21M-909K
CapEx % of Revenue---478.55%41.15%13.84%4.15%0.62%
Acquisitions00000000
Investments--------
Other Investing-77.4M136.37M-885K414.74M0000
Cash from Financing300.62M160.33M275.11M394.74M604.82M463.77M1.24B423.32M
Debt Issued (Net)-1.51M-1.56M-812K00000
Equity Issued (Net)0005.81M000423.32M
Dividends Paid00000000
Share Repurchases000-170K0000
Other Financing302.13M161.88M275.92M388.93M604.82M463.77M1.24B0
Net Change in Cash
-1.55M▲ 0%
47.69M▲ 3179.0%
30.35M▼ 36.4%
-143.19M▼ 571.8%
20.13M▲ 114.1%
-144.62M▼ 818.3%
116.07M▲ 180.3%
39.12M▼ 66.3%
Free Cash Flow
-225.25M▲ 0%
-249.13M▼ 10.6%
-243.91M▲ 2.1%
-758.06M▼ 210.8%
-584.17M▲ 22.9%
-608.69M▼ 4.2%
-582.36M▲ 4.3%
-299.01M▲ 48.7%
FCF Margin %----5187.9%-1051.61%-653.76%-463.68%-203.17%
FCF Growth %--10.6%2.09%-210.8%22.94%-4.2%4.32%48.66%
FCF per Share-1.97-2.02-1.97-24.41-18.81-19.60-18.26-8.14
FCF Conversion (FCF/Net Income)0.76x1.00x0.74x0.55x0.10x0.41x0.28x0.73x
Interest Paid00000000
Taxes Paid00000000

GRAL Key Ratios

GRAIL, Inc. (GRAL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025
Return on Equity (ROE)-45.92%-42.55%-56.12%-24.97%-76.71%-35.35%-65.92%-16.07%
Return on Invested Capital (ROIC)-42.46%-40.06%-52.5%-19.42%-59.07%-27.95%-54.81%-16.75%
Gross Margin----684.39%-209.63%-102.69%-62.12%-42.52%
Net Margin----8539.39%-9719.35%-1574.23%-1613.92%-277.47%
Debt / Equity0.00x0.08x0.11x0.01x0.02x0.02x0.03x0.04x
FCF Conversion0.76x1.00x0.74x0.55x0.10x0.41x0.28x0.73x
Revenue Growth----280.17%67.61%34.9%17.18%

GRAL SEC Filings & Documents

GRAIL, Inc. (GRAL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Feb 19, 2026·SEC

Material company update

Jan 12, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 12, 2026·SEC

FY 2025

Mar 5, 2025·SEC

10-Q Quarterly Reports

5
FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 13, 2025·SEC

FY 2025

May 14, 2025·SEC

GRAL Frequently Asked Questions

GRAIL, Inc. (GRAL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

GRAIL, Inc. (GRAL) reported $147.2M in revenue for fiscal year 2025.

GRAIL, Inc. (GRAL) grew revenue by 17.2% over the past year. This is strong growth.

GRAIL, Inc. (GRAL) reported a net loss of $408.4M for fiscal year 2025.

Dividend & Returns

GRAIL, Inc. (GRAL) has a return on equity (ROE) of -16.1%. Negative ROE indicates the company is unprofitable.

GRAIL, Inc. (GRAL) had negative free cash flow of $299.0M in fiscal year 2025, likely due to heavy capital investments.

Explore More GRAL

GRAIL, Inc. (GRAL) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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