GHGuardant Health, Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GH?
Guardant Health, Inc. keeps −40% 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
- Share count, year on year
- +7.0%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 32%
R&D as % of revenue
- Gross margin
- 65%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −89% |
| FY2021 | −110% |
| FY2022 | −121% |
| FY2023 | −100% |
| FY2024 | −60% |
| FY2025 | −45% |
Details›
- Gross margin12 months to Q2 2026
- 65%
- Operating margin12 months to Q2 2026
- −40%
- Net margin12 months to Q2 2026
- −38%
- Free cash flow margin
- −20%
- R&D as % of revenue
- 32%
- Revenue, trailing twelve months
- $1.18B
- Free cash flow, trailing twelve months
- −$241M
- Net income, trailing twelve months
- −$453M
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 #18 of 21 by RyuScore