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Guardant Health

GH on Nasdaq. Guardant Health sells blood and tissue tests to doctors treating cancer patients. Market value $25.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-1.1%low

For every $100 of what the whole company costs, it produced $-1.05 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 30 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$170.69 a share, 180% above its 1-year low

Over the past year the price has ranged from $61.00 to $191.05.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.3
-0.4
-0.3
-0.3
-0.2
-0.2
2021202220232024202512 monthsto Jun '26
Revenue
$374m$450m$564m$739m$982m
Operating margin
-110.0%-121.1%-100.1%-60.0%-44.5%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.10bn0.12bn0.12bn0.13bn0.13bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsStrong, 27.9% a year
  • Buying back its own sharesNo, 31% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $335 million last quarter, up 44% on a year ago.
  • A loss of $120 million, compared with a loss of $100 million a year ago.
  • It loses 40 cents on each $1 of sales, compared with 56 cents a year earlier.
  • Over the past 12 months it spent $241 million more cash than it brought in, compared with $272 million a year earlier.
  • 7% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $449 million more than cash, down from $486 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$191m
December 2024$202m
March 2025$203m
June 2025$232m
September 2025$265m
December 2025$281m
March 2026$302m
June 2026$335m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$108m
December 2024-$111m
March 2025-$95m
June 2025-$100m
September 2025-$93m
December 2025-$128m
March 2026-$112m
June 2026-$120m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
29 October 2026

Who owns it

2 long-term investors we follow own it, up from 1 last quarter. 597 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $78,456 of shares on the open market. 15 sold $174m, $81m of it under preset trading plans.

  • Tariq Musa
    Director
    Sold
    under a preset trading plan
    Date
    16 September 2026
    Shares
    116
    Price
    $175.00
    Value
    $20,300
  • Krognes Steve E.
    Director
    Sold
    Date
    16 September 2026
    Shares
    6,674
    Price
    $175.74
    Value
    $1m
  • Azar Alex M II
    Director
    Sold
    under a preset trading plan
    Date
    16 September 2026
    Shares
    826
    Price
    $175.00
    Value
    $144,550
  • Chudova Darya
    Chief Technology Officer
    Sold
    Date
    15 September 2026
    Shares
    7,738
    Price
    $178.00
    Value
    $1m
  • Kalia Kumud
    Chief Information Officer
    Sold
    Date
    11 September 2026
    Shares
    4,000
    Price
    $158.05
    Value
    $632,193
  • Talasaz AmirAli
    Co-Chief Executive Officer, Director
    Sold
    Date
    21 August 2026
    Shares
    37,500
    Price
    $169.16
    Value
    $6m
  • Tariq Musa
    Director
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    116
    Price
    $156.45
    Value
    $18,148
  • Monroe Terilyn J.
    Chief People Officer
    Sold
    Date
    12 August 2026
    Shares
    46,300
    Price
    $165.12
    Value
    $8m
  • Freeman Chris
    Chief Commercial Officer
    Sold
    Date
    10 August 2026
    Shares
    63,605
    Price
    $169.58
    Value
    $11m
  • Hidalgo Medina Manuel
    Director
    Sold
    Date
    5 August 2026
    Shares
    1,700
    Price
    $164.24
    Value
    $279,202

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 4 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.