Is the business good?
How good a business is CDNA?
CareDx, Inc. earns −10% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−10%
Return on invested capital · cost of capital 9.0% · 19 points below what the capital costs: growth destroys value
- Operating margin
- −3.9%
Operating margin · Diagnostics & Research median 7.1% · 12 months to Q1 2026
- Share count, year on year
- −3.9%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 18%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −12% |
| FY2021 | −10% |
| FY2022 | −24% |
| FY2023 | −73% |
| FY2024 | 12% |
| FY2025 | −8.1% |
Details›
- Operating margin12 months to Q1 2026
- −3.9%
- Net margin12 months to Q1 2026
- −2.0%
- Free cash flow margin
- −0.37%
- R&D as % of revenue
- 18%
- Revenue, trailing twelve months
- $413M
- Free cash flow, trailing twelve months
- −$1.5M
- Net income, trailing twelve months
- −$8.2M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Diagnostics & Research
Ranks #8 of 29 by Smart Score