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Guardant Health, Inc. (GH) stock

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NASDAQ: GH Nasdaq Health Care Services Next results ~November 5, 2026

D Fundamentals grade

Guardant Health, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Guardant Health, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Guardant Health, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Guardant Health files

Where Guardant Health stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.18bn, up 42.7% on a year earlier, faster than 39.6% a quarter earlier. That growth ranks 55 of 931 among all the companies we cover. Free-cash-flow margin rose to -20.3% from -32.8% a year earlier. Operating margin widened to -39.7% from -55.6%. The diluted share count is up 4.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 5 financial-health checks.

Our model value for Guardant Health is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Guardant Health, Inc.'s trailing-twelve-month revenue grew 42.7% year on year, with a free-cash-flow margin of -20.3%. Where it stands out: revenue growth of 42.7% ranks 3 of 41 health care services companies we cover. Where it lags: long-term debt as % of assets of 78.6% ranks 31 of 31 health care services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 11.4% while net income fell 9.6%: a 21pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 42.7% over the last 12 months, against a median of 7.3% for health care services companies we cover.
  • Growth speeding up. The growth rate is 3.2 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 15.8 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -39.7%: costs exceed revenue.
  • Burning cash. Free cash flow was -20.3% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 16.2% of revenue, against a median of 0.9% for health care services companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 4.6% in a year.
  • High sales multiple. The shares trade at 19 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 1.2 against the S&P 500.

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
-$0.42 against an average estimate of -$0.39: missed by 7.8%
Revenue
$335m, up 44.3% on a year earlier
Share reaction
+12.4% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Guidance given
revenue $1.34bn to $1.36bn (full year 2026); revenue growth growth 36% to 38% (full year 2026)
Next report
November 5, 2026; average EPS estimate -$0.31

Guardant Health's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.5%
  • 1 week-1.5%
  • 1 month-4.0%
  • This year+67.2%
  • 1 year+83.5%
  • 5 years+49.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.2B
Operating margin
-39.7%
Net margin
-38.3%
EPS (TTM, diluted)
$-3.50

Growth

Revenue growth
+42.7%
Change in growth rate
+3.2 pts
Share count change
+4.6%

Cash

Free cash flow (TTM)
-$241M
FCF margin
-20.3%
Stock pay % of revenue
16.2%

Earnings

Last results
July 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Announcement
  4. Regulatory
  5. Results
  6. Announcement
  7. Insider trade
  8. Insider trade
  9. Announcement
  10. Announcement
  11. Leadership
  12. Regulatory
  13. Announcement
  14. Insider trade
  15. Insider trade
  16. Insider trade
  17. Results
  18. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Guardant Health, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Guardant Health, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.99 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.9 Left out: out of range vs price (0.01x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$10 ~$10–$29 Left out: out of range vs price (0.06x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Guardant Health, Inc. with Health Care Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$37.59$78.14$128.88$100.02$27.20$27.05$30.55$102.14$170.73
Market value$3.4bn$7.1bn$12.6bn$10.1bn$2.8bn$3.0bn$3.7bn$12.8bn$22.1bn
+ Net debt (− = net cash)−$141m−$143m−$27m$643m$996m$6m$617m$1.1bn$449m
Enterprise value$3.3bn$6.9bn$12.5bn$10.8bn$3.8bn$3.0bn$4.4bn$13.9bn$22.5bn
Multiples
Price / sales 37.8x33.0x43.8x27.1x6.2x5.4x5.1x13.0x18.7x
Price / earnings —————————
Price / free cash flow —————————
EV / EBITDA —————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

8 /100

Weak moat

How hard Guardant Health's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -25.7% of total assets over 8 years.

  • Durability 10 / 20

    Operating margin has been a median -79.4%; its worst year was -127.4%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 8 years, at a median -51.2% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 28.8% over five years; stock-based pay has been a median 16.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $351m and EPS of −$0.31 (range −$0.39 to −$0.22) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.45 +21% $1.4bn +38%
Next −$0.38 +74% $1.8bn +35%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.8% on 90 days ago. In the last 30 days, 0 analysts raised Guardant Health, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Guardant Health, Inc., last 90 days
−$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.39 Current fiscal year, 60 days ago: −$1.45 Current fiscal year, 30 days ago: −$1.46 Current fiscal year, 7 days ago: −$1.46 Current fiscal year, Now: −$1.45 −$1.45 Next fiscal year, 90 days ago: −$0.43 Next fiscal year, 60 days ago: −$0.44 Next fiscal year, 30 days ago: −$0.40 Next fiscal year, 7 days ago: −$0.41 Next fiscal year, Now: −$0.38 −$0.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.39−$0.43
60 days ago −$1.45−$0.44
30 days ago −$1.46−$0.40
7 days ago −$1.46−$0.41
Now −$1.45−$0.38

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.39 −$0.42 −7.8%
Mar 2026 −$0.47 −$0.45 +5.0%
Dec 2025 −$0.47 −$0.50 −6.5%
Sept 2025 −$0.49 −$0.39 +20.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • revenue full year 2026 $1.34bn to $1.36bn Raised
    “Raises 2026 revenue guidance to $1.34 to $1.36 billion, representing growth of 36% to 38%” source
  • revenue growth full year 2026 36% growth to 38% growth Raised
    “Raises 2026 revenue guidance to $1.34 to $1.36 billion, representing growth of 36% to 38%” source
  • non-GAAP gross margin full year 2026 64% to 65% Non-GAAP Maintained
    “Guardant Health continues to expect full year 2026 non-GAAP gross margin to be in the range of 64% to 65%.” source
  • Oncology revenue growth full year 2026 about 30% growth
    “Oncology revenue is now expected to grow approximately 30% in 2026, compared to prior guidance of 28% to 29%.” source
  • Oncology volume growth full year 2026 about 50% growth
    “Oncology volume is now expected to grow to approximately 50% in 2026, compared to prior guidance of approximately 35%.” source
  • Screening revenue full year 2026 $218m to $230m
    “Screening revenue is now expected to be in the range of $218 to $230 million, driven by Shield volume of 270,000 to 285,000 tests.” source
Show 3 more items
  • Shield volume · Screening full year 2026 270,000 to 285,000
    “Screening revenue is now expected to be in the range of $218 to $230 million, driven by Shield volume of 270,000 to 285,000 tests.” source
  • non-GAAP operating expenses full year 2026 $1.08bn to $1.1bn Non-GAAP Raised
    “Guardant Health now expects total non-GAAP operating expenses to be in the range of $1.08 to $1.10 billion, an increase compared to the prior range of $1.05 to $1.07 billion.” source
  • free cash flow burn full year 2026 $195m to $205m
    “Guardant Health now expects full-year free cash flow burn of $195 million to $205 million, compared with its previous outlook of $185 million to $195 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

26 analysts, Oct 2026
Buy2596%
Hold00%
Sell14%

Monthly trend

  1. Oct 202642126
  2. Sep 202652026
  3. Aug 202651925
  4. Jul 202651925

Counts of recommendations published by analysts covering Guardant Health, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.1%
of tradable shares
Days to cover
6.12
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
4.0%
of shares
Employees
2,490
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +83.5%

$93.02 on October 31, 2025 to $170.73

ThenNowEffect
Revenue (last 12 months) $829m $1.2bn +42.7%
P/S multiple 13.9x 18.7x +34.5%
Share count 124m 129m −4.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +495.5%

$28.67 on November 3, 2023 to $170.73

ThenNowEffect
Revenue (last 12 months) $510m $1.2bn +131.9%
P/S multiple 5.8x 18.7x +219.3%
Share count 104m 129m −19.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GH−22%−73%−1%+13%+234%+67%
Industry peers (median)−1%−25%+8%−6%−9%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GH42%25%50%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GH−51%−75%−46%−44%−28%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 4, 2018: 91% from February 12, 2021 to April 19, 2024. Getting back needed a 1015% gain, reached on September 17, 2026, 881 days after the low.

Price behaviour

52-week range
$78.60 – $187.22
From 52-week high
−8.8%
vs 50-day average
+0.6%
vs 200-day average
+30.5%
Volatility (1 year)
52%
Beta vs S&P 500
1.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±10.4%
After a week
8 up, 4 down
typical move ±17.6%
After a month
7 up, 5 down
typical move ±30.6%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 +12.4% +2.4% +9.4% +12.1%
May 7, 2026 +3.7% +0.5% +6.9% +35.4%
February 19, 2026 −4.0% +0.5% −8.8% −20.7%
January 12, 2026 −3.0% 0.0% +4.3% −2.4%
October 29, 2025 +32.8% −1.1% +36.6% +55.8%
July 30, 2025 −5.4% −0.5% +2.9% +48.8%
April 30, 2025 −1.3% +0.7% −19.8% −18.0%
February 20, 2025 −12.5% −2.1% −14.1% −5.9%
January 13, 2025 +2.0% +0.3% +22.9% +23.6%
November 6, 2024 +21.6% +3.3% +34.4% +56.8%
August 7, 2024 −5.9% +1.6% −9.7% −26.2%
May 9, 2024 +20.0% +0.7% +40.8% +61.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Guardant Health, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Guardant Health, Inc.
$400M $600M $800M $1B $1.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $535.8M Revenue (TTM), FY23 Q4: $563.9M Revenue (TTM), FY24 Q1: $603.7M Revenue (TTM), FY24 Q2: $643.8M Revenue (TTM), FY24 Q3: $692.3M Revenue (TTM), FY24 Q4: $739M Revenue (TTM), FY25 Q1: $774M Revenue (TTM), FY25 Q2: $828.8M Revenue (TTM), FY25 Q3: $902.6M Revenue (TTM), FY25 Q4: $982M Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $535.8M
FY23 Q4 $563.9M
FY24 Q1 $603.7M
FY24 Q2 $643.8M
FY24 Q3 $692.3M
FY24 Q4 $739M
FY25 Q1 $774M
FY25 Q2 $828.8M
FY25 Q3 $902.6M
FY25 Q4 $982M
FY26 Q1 $1.1B
FY26 Q2 $1.2B
Revenue growth, TTM YoY Guardant Health, Inc.
20% 25% 30% 35% 40% 45% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 24.4% Revenue growth, TTM YoY, FY23 Q4: 25.5% Revenue growth, TTM YoY, FY24 Q1: 25.2% Revenue growth, TTM YoY, FY24 Q2: 26.2% Revenue growth, TTM YoY, FY24 Q3: 29.2% Revenue growth, TTM YoY, FY24 Q4: 31.0% Revenue growth, TTM YoY, FY25 Q1: 28.2% Revenue growth, TTM YoY, FY25 Q2: 28.7% Revenue growth, TTM YoY, FY25 Q3: 30.4% Revenue growth, TTM YoY, FY25 Q4: 32.9% Revenue growth, TTM YoY, FY26 Q1: 39.6% Revenue growth, TTM YoY, FY26 Q2: 42.7% 42.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 24.4%
FY23 Q4 25.5%
FY24 Q1 25.2%
FY24 Q2 26.2%
FY24 Q3 29.2%
FY24 Q4 31.0%
FY25 Q1 28.2%
FY25 Q2 28.7%
FY25 Q3 30.4%
FY25 Q4 32.9%
FY26 Q1 39.6%
FY26 Q2 42.7%
Operating margin (TTM) Guardant Health, Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -95.8% Operating margin (TTM), FY23 Q4: -100.1% Operating margin (TTM), FY24 Q1: -87.8% Operating margin (TTM), FY24 Q2: -79.4% Operating margin (TTM), FY24 Q3: -74.4% Operating margin (TTM), FY24 Q4: -60.0% Operating margin (TTM), FY25 Q1: -58.8% Operating margin (TTM), FY25 Q2: -55.6% Operating margin (TTM), FY25 Q3: -49.0% Operating margin (TTM), FY25 Q4: -44.5% Operating margin (TTM), FY26 Q1: -41.4% Operating margin (TTM), FY26 Q2: -39.7% -39.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -95.8%
FY23 Q4 -100.1%
FY24 Q1 -87.8%
FY24 Q2 -79.4%
FY24 Q3 -74.4%
FY24 Q4 -60.0%
FY25 Q1 -58.8%
FY25 Q2 -55.6%
FY25 Q3 -49.0%
FY25 Q4 -44.5%
FY26 Q1 -41.4%
FY26 Q2 -39.7%
FCF margin (TTM) Guardant Health, Inc.
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -67.8% FCF margin (TTM), FY23 Q4: -61.3% FCF margin (TTM), FY24 Q1: -49.8% FCF margin (TTM), FY24 Q2: -46.5% FCF margin (TTM), FY24 Q3: -39.6% FCF margin (TTM), FY24 Q4: -37.2% FCF margin (TTM), FY25 Q1: -39.4% FCF margin (TTM), FY25 Q2: -32.8% FCF margin (TTM), FY25 Q3: -29.1% FCF margin (TTM), FY25 Q4: -23.7% FCF margin (TTM), FY26 Q1: -22.0% FCF margin (TTM), FY26 Q2: -20.3% -20.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -67.8%
FY23 Q4 -61.3%
FY24 Q1 -49.8%
FY24 Q2 -46.5%
FY24 Q3 -39.6%
FY24 Q4 -37.2%
FY25 Q1 -39.4%
FY25 Q2 -32.8%
FY25 Q3 -29.1%
FY25 Q4 -23.7%
FY26 Q1 -22.0%
FY26 Q2 -20.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 25 50 91 214 287 374 450 564 739 982 1,183
Gross profit — — — — — — — 337 449 633 769
EBITDA −40 −71 −86 −71 −239 −389 −508 −522 −401 −398 −432
Operating income −44 −77 −93 −82 −255 −411 −544 −565 −444 −437 −470
Net income −46 −83 −85 −76 −254 −385 −655 −479 −436 −416 −453
Diluted EPS −$1.18 −$2.36 −$0.93 −$0.84 −$2.60 −$4.00 −$6.41 −$4.28 −$3.56 −$3.32 −$3.50
Growth (year on year)
Revenue — +97.4% +81.9% +136.5% +33.8% +30.3% +20.3% +25.5% +31.0% +32.9% +42.7%
Margins
Gross margin — — — — — — — 59.7% 60.8% 64.5% 65.0%
EBITDA margin −159.0% −143.3% −94.7% −33.1% −83.3% −104.0% −113.1% −92.5% −54.3% −40.5% −36.6%
Operating margin −173.7% −153.7% −102.5% −38.4% −88.9% −110.0% −121.1% −100.1% −60.0% −44.5% −39.7%
Net margin −182.7% −167.0% −93.8% −35.3% −88.5% −103.0% −145.6% −85.0% −59.0% −42.4% −38.3%
Free-cash-flow margin −152.4% −158.3% −101.9% −30.7% −48.9% −76.0% −86.1% −61.3% −37.2% −23.7% −20.3%
Cash flow
Cash from operations −37 −72 −72 −47 −104 −209 −309 −325 −240 −185 −185
Capital spending 2 7 20 19 36 75 77 20 35 48 56
Free cash flow −38 −79 −92 −66 −140 −284 −387 −345 −275 −233 −241
Stock-based pay 2 4 7 17 144 151 95 91 140 166 191
Free cash flow after stock pay −40 −83 −99 −83 −284 −436 −482 −436 −415 −399 −432
Balance sheet
Cash 34 72 141 143 833 492 142 1,134 526 378 1,053
Total debt 0 0 0 0 806 1,135 1,137 1,140 1,143 1,504 1,503
Net debt (negative = net cash) −34 −72 −141 −143 −27 643 996 6 617 1,126 449
Diluted shares 39m 38m 91m 91m 98m 101m 102m 112m 123m 125m 129m
Returned to shareholders
Buybacks 0 7 0 0 0 — — 0 0 45 0
Total returned 0 7 0 0 0 — — 0 0 45 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $1.9bn
Short-term assets $1.4bnLonger-term assets $548m
What it owes, and who funded it · $2.1bn
Short-term liabilities $339mLonger-term liabilities $1.8bnShareholders' equity $-223m
  • Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $339m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.4bn short-term assets against $1.8bn of longer-dated liabilities.
  • More cash than debt $1.1bn of cash against $1.5bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$185m of operating cash flow against $1.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$470m against $5m of interest.

From Guardant Health, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$45M
Diluted share count
+4.6%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
31.8%
of revenue
Days sales outstanding
45 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated GH PNTG PGNY HQY INNV CRVL Median
Revenue, last 12 months $1.2bn $1.1bn $1.3bn $1.4bn $990m $984m $1.2bn
Revenue growth, last 12 months 42.7% 37.9% 5.5% 7.3% 15.9% 7.1% 7.3%
Revenue growth, 3-year average 32.4% 30.0% 11.0% 13.2% 12.9% 10.3% 11.3%
Revenue growth, latest quarter 44.3% 35.8% 5.3% 7.6% 18.3% 10.7% 8.5%
Gross margin 65.0% — 24.6% 71.2% 23.0% 24.8% 27.9%
Operating margin −39.7% 5.6% 8.6% 25.8% 0.3% — 2.3%
Operating margin, 3-year average −58.3% 5.5% 7.0% 19.9% −2.1% — 2.3%
Net margin −38.3% 2.9% 6.0% 17.4% −0.3% 11.7% 1.2%
Cash from operations / revenue −15.7% 4.8% 15.4% 36.0% 6.5% 15.3% 6.1%
Free-cash-flow margin −20.3% 3.1% 13.6% 35.8% 5.1% 11.6% 5.1%
Free-cash-flow margin, 3-year average −33.2% 3.5% 14.7% 30.8% 0.8% 10.3% 3.6%
Stock pay / revenue 16.2% 0.9% 8.2% 6.0% 0.7% 0.5% 1.1%
Change in share count 4.6% 3.6% −4.2% −3.3% 0.2% −1.2% 0.3%

Median of all 41 companies we cover in health care services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

41 health care services companies
Measure Company Peer median Rank
Revenue growth Growth 42.7% 7.3% 3 of 41
Change in growth rate Growth +3.2pp +1.1pp 11 of 41
Gross margin Profitability 65.0% 29.0% 5 of 27
Operating margin Profitability -39.7% 2.6% 36 of 40
Net margin Profitability -38.3% 1.2% 37 of 41
Free-cash-flow margin Cash generation -20.3% 5.1% 37 of 40
Stock pay as % of revenue Cash generation 16.2% 0.9% 34 of 35
Long-term debt as % of assets Balance sheet 78.6% 27.7% 31 of 31
Change in share count Balance sheet 4.6% 0.4% 31 of 39
Days sales outstanding Balance sheet 45 days 39 days 21 of 31

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oncology $684M 69.6% ▲ 25.9%
Biopharma Data $210M 21.4% ▲ 18.3%
Screening $79.7M 8.1% ▲ 1456.0%
Licensing Other $8.6M 0.9% ▼ 36.5%
Geography
Region Revenue Share YoY
United States $923M 94.0% ▲ 32.4%
Outside the US $58.7M 6.0% ▲ 40.3%

From Guardant Health, Inc.'s 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$20B
Institutions reporting
590
Shares held vs prior quarter
▼ 1.2%
Positions opened / closed
144 / 41

Top buyers and sellers, Q2 2026: 343 institutions bought and 218 sold ; the biggest buyer was Jane Street Group, LLC (+1.8M shares) and the biggest seller Blackrock, Inc (−3.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 7.6M 5.7% ▼ 34.0%
Price T Rowe Associates Inc $977M 6.5M 4.9% ▼ 7.2%
Vanguard Capital Management LLC $864M 5.8M 4.3% ▲ 2.3%
FMR LLC $823M 5.5M 4.1% ▲ 33.3%
Vanguard Portfolio Management LLC $817M 5.4M 4.1% ▼ 6.7%
Invesco Ltd. $665M 4.4M 3.3% ▼ 10.4%
Goldman Sachs Group Inc $566M 3.8M 2.8% ▼ 14.9%
Two Sigma Investments, LP $558M 3.7M 2.8% ▼ 12.1%
Capital International Investors $510M 3.4M 2.5% ▼ 2.3%
Deep Track Capital, LP $509M 3.4M 2.5% ▲ 1.6%
Franklin Resources Inc $486M 3.2M 2.4% ▼ 6.2%
Ameriprise Financial Inc $473M 3.2M 2.4% ▲ 122.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Guardant Health, Inc.'s complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $78,456 1 trade by 1 insider, last 12 months Insider sales History → $169M 141 trades by 15 insiders · 48% under pre-set plans
Net ▼ $169M net selling
Insider Date Trade Shares Price Value
Tariq Musa Director October 16, 2026 Sell pre-set plan 116 $165.88 $19,242
Azar Alex M Ii Director October 14, 2026 Sell pre-set plan 69 $159.89 $11,032
Tariq Musa Director September 16, 2026 Sell pre-set plan 116 $175.00 $20,300
Azar Alex M Ii Director September 16, 2026 Sell pre-set plan 826 $175.00 $144,550
Krognes Steve E. Director September 16, 2026 Sell 3,300 $175.42 $578,886
Krognes Steve E. Director September 16, 2026 Sell 1,300 $176.34 $229,242
Krognes Steve E. Director September 16, 2026 Sell 971 $177.48 $172,333
Krognes Steve E. Director September 16, 2026 Sell 1,103 $174.46 $192,429
Chudova Darya Chief Technology Officer September 15, 2026 Sell 7,738 $178.00 $1.4M
Kalia Kumud Chief Information Officer September 11, 2026 Sell 4,000 $158.05 $632,200
Talasaz Amirali Co-Chief Executive Officer August 21, 2026 Sell 7,589 $170.29 $1.3M
Talasaz Amirali Co-Chief Executive Officer August 21, 2026 Sell 9,023 $168.20 $1.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 11 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Guardant Health, Inc. shares.

  • Jonathan L. Jackson(D-IL 1):Purchase, $15,001 - $50,000, traded September 28, 2026, filed October 19, 2026
  • Donald S. Beyer, Jr.(D-VA 8):Sale (full), $1,001 - $15,000, traded February 28, 2022, filed March 3, 2022
  • Donald S. Beyer, Jr.(D-VA 8):Sale (full), $1,001 - $15,000, traded January 13, 2022, filed February 1, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 14, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • May 7, 2026
  • February 19, 2026
  • January 12, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Guardant Health, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Guardant Health, Inc. in brief

What does Guardant Health, Inc. do?
Guardant Health, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.
What is Guardant Health, Inc.'s stock ticker?
Guardant Health, Inc. trades under the ticker GH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Guardant Health, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Guardant Health, Inc. reported revenue of $1.2B, 42.7% higher than a year earlier, according to its SEC filings.
What is Guardant Health, Inc.'s free cash flow?
Guardant Health, Inc.'s free-cash-flow margin is -20.3% of revenue over the trailing twelve months, ranking 37 of the 40 health care services companies we cover.
Who are Guardant Health, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Guardant Health, Inc. buying back stock, and does it pay a dividend?
Guardant Health, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 4.6% over the year.
What is Guardant Health, Inc.'s market cap?
On November 2, 2026, Guardant Health, Inc.'s market capitalisation was about $22.1B and net debt of $449M. Market figures come from third-party market data and may be delayed.
Who are Guardant Health, Inc.'s competitors?
In our Health Care Services peer group, the companies closest to Guardant Health, Inc. are Pennant Group, Inc., Progyny, Inc., Healthequity, Inc., Innovage Holding Corp. and Corvel Corp. The side-by-side comparison below sets their revenue, margins and growth against Guardant Health, Inc.'s.
Are insiders buying or selling Guardant Health, Inc. stock?
Over the last 12 months, Guardant Health, Inc.'s directors and officers reported 1 open-market purchases and 141 sales on Form 4. The insider trading page charts every trade.
When is Guardant Health, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Guardant Health, Inc. announces its own schedule.