CDNACareDx, Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Operating profit is mostly backed by cash. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Margin-driven, fat margins on slower asset turns. ROE 10% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CDNA?
CareDx, Inc. keeps 24% of every revenue dollar as operating profit, against 3.6% for the median Diagnostics & Research name.
Operating margin · Diagnostics & Research median 3.6% · 12 months to Q2 2026
- Cash conversion
- 0.90×
Cash conversion · 0.39× a year ago · most of the operating profit arrived as cash, working capital took the rest
- Share count, year on year
- −1.6%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 17%
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 Q2 2026
- 24%
- Net margin12 months to Q2 2026
- 24%
- Free cash flow margin
- 8.9%
- R&D as % of revenue
- 17%
- Revenue, trailing twelve months
- $458M
- Free cash flow, trailing twelve months
- $41M
- Net income, trailing twelve months
- $111M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Diagnostics & Research
Ranks #5 of 21 by RyuScore