GRALGRAIL, Inc.
Is the business good?
Margins steady. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Margins have held roughly steady, a stable cost structure.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GRAL?
GRAIL, Inc. earns −18% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 27 points below what the capital costs: growth destroys value
- Operating margin
- −338%
Operating margin · Diagnostics & Research median 3.6% · 12 months to Q2 2026
- Share count, year on year
- +20%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 116%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2022 | −9798% |
| FY2023 | −1628% |
| FY2024 | −1743% |
| FY2025 | −382% |
Details›
- Operating margin12 months to Q2 2026
- −338%
- Net margin12 months to Q2 2026
- −237%
- Free cash flow margin
- −179%
- R&D as % of revenue
- 116%
- Revenue, trailing twelve months
- $165M
- Free cash flow, trailing twelve months
- −$296M
- Net income, trailing twelve months
- −$392M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −18%
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 #15 of 21 by RyuScore