CareDx, Inc. (CDNA) intrinsic value & 10-year financials
CareDx, Inc. (CDNA) has a Graham intrinsic value of $30.89 per share. At $64.00 on Oct 17, 2026, the stock trades 107% above that value. Over the last 10 fiscal years revenue grew 28.2% a year to $379.8M, with an average return on invested capital of -49.5%.
- Graham intrinsic value
- $30.89
- Share price (Oct 17, 2026)
- $64.00
- Price vs Graham value
- 107% above
- Market cap
- $3.4B
- Revenue (FY2025)
- $379.8M
- Revenue growth (10-yr CAGR)
- 28.2%
- ROIC (10-yr avg)
- -49.5%
- Free cash flow (FY2025)
- —
CDNA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $379.8M | -$21.4M | -$0.40 | — | -8.1% | -11.3% |
| FY2024 | $333.8M | $52.5M | $0.93 | — | 12.2% | 16.4% |
| FY2023 | $280.3M | -$190.3M | -$3.54 | — | -72.5% | -69.9% |
| FY2022 | $321.8M | -$76.6M | -$1.44 | — | -24.0% | -30.3% |
| FY2021 | $296.4M | -$30.7M | -$0.59 | — | -10.0% | -19.3% |
| FY2020 | $192.2M | -$18.7M | -$0.40 | — | -11.7% | -19.2% |
| FY2019 | $127.1M | -$22.0M | -$0.52 | — | -19.3% | -47.6% |
| FY2018 | $76.6M | -$46.8M | -$1.31 | -$6.0M | -20.3% | -71.3% |
| FY2017 | $48.3M | -$55.5M | -$2.38 | -$14.5M | -42.0% | -105.6% |
| FY2016 | $40.6M | -$39.5M | -$2.39 | -$17.1M | -91.9% | -136.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CareDx, Inc. is a consistent compounder, expanding top-line revenue at 28.2% annually over the past decade.
CareDx, Inc. has historically struggled to out-earn its cost of capital, averaging just -49.5% ROIC.
CareDx, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, CareDx, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $30.89 per share.