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DCF valuation

What is Veracyte, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Veracyte, Inc.'s reported free cash flow gives $54.41 per share. The share price was $24.17 on November 10, 2026, 56% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$126.6M
Average free cash flow, last 5 years
$37.3M
Cash
$199.8M
balance sheet of September 30, 2026
Debt
$0
not reported, counted as 0
Diluted shares, fiscal 2025
80,573,140
Revenue growth per year, last 5 years
34.5%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$34.03+41%
Base15.0%9.0%2.5%9.0%$54.41+125%
Bull20.0%11.5%3.0%8.0%$92.34+282%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$69.83$74.64$80.52$87.87$97.32
8.0%$58.24$61.36$65.05$69.47$74.88
9.0%$49.81$51.94$54.41$57.28$60.67
10.0%$43.42$44.93$46.65$48.62$50.88
11.0%$38.42$39.53$40.77$42.17$43.75

Where the presets come from

Base: years 1 to 5 grow at Veracyte, Inc.'s revenue growth rate over the last 5 fiscal years (34.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Veracyte, Inc. company page