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CDNA (CareDx) Piotroski F-Score : 6 (As of Jul. 15, 2025)


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What is CareDx Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

CareDx has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for CareDx's Piotroski F-Score or its related term are showing as below:

CDNA' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 6

During the past 13 years, the highest Piotroski F-Score of CareDx was 7. The lowest was 1. And the median was 4.


CareDx Piotroski F-Score Historical Data

The historical data trend for CareDx's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CareDx Piotroski F-Score Chart

CareDx Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 1.00 3.00 6.00

CareDx Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 5.00 6.00 6.00 6.00

Competitive Comparison of CareDx's Piotroski F-Score

For the Diagnostics & Research subindustry, CareDx's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CareDx's Piotroski F-Score Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, CareDx's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where CareDx's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was -1.394 + -7.408 + 78.01 + -10.353 = $58.9 Mil.
Cash Flow from Operations was 18.949 + 12.522 + 21.889 + -26.584 = $26.8 Mil.
Revenue was 92.274 + 82.883 + 86.579 + 84.685 = $346.4 Mil.
Gross Profit was 64.328 + 55.311 + 58.401 + 56.27 = $234.3 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(452.406 + 466.777 + 476.985 + 491.05 + 489.638) / 5 = $475.3712 Mil.
Total Assets at the begining of this year (Mar24) was $452.4 Mil.
Long-Term Debt & Capital Lease Obligation was $24.1 Mil.
Total Current Assets was $350.2 Mil.
Total Current Liabilities was $85.3 Mil.
Net Income was -24.953 + -23.485 + -118.097 + -19.888 = $-186.4 Mil.

Revenue was 70.301 + 67.192 + 65.569 + 72.049 = $275.1 Mil.
Gross Profit was 44.414 + 42.659 + 39.956 + 46.115 = $173.1 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(528.217 + 514.82 + 501.18 + 466.826 + 452.406) / 5 = $492.6898 Mil.
Total Assets at the begining of last year (Mar23) was $528.2 Mil.
Long-Term Debt & Capital Lease Obligation was $26.9 Mil.
Total Current Assets was $303.1 Mil.
Total Current Liabilities was $70.2 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

CareDx's current Net Income (TTM) was 58.9. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

CareDx's current Cash Flow from Operations (TTM) was 26.8. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=58.855/452.406
=0.13009332

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-186.423/528.217
=-0.35292882

CareDx's return on assets of this year was 0.13009332. CareDx's return on assets of last year was -0.35292882. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

CareDx's current Net Income (TTM) was 58.9. CareDx's current Cash Flow from Operations (TTM) was 26.8. ==> 26.8 <= 58.9 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=24.072/475.3712
=0.05063832

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=26.893/492.6898
=0.05458404

CareDx's gearing of this year was 0.05063832. CareDx's gearing of last year was 0.05458404. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=350.239/85.284
=4.10673749

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=303.095/70.211
=4.31691615

CareDx's current ratio of this year was 4.10673749. CareDx's current ratio of last year was 4.31691615. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

CareDx's number of shares in issue this year was 55.262. CareDx's number of shares in issue last year was 51.692. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=234.31/346.421
=0.67637355

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=173.144/275.111
=0.62936051

CareDx's gross margin of this year was 0.67637355. CareDx's gross margin of last year was 0.62936051. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=346.421/452.406
=0.76573034

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=275.111/528.217
=0.52082951

CareDx's asset turnover of this year was 0.76573034. CareDx's asset turnover of last year was 0.52082951. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+0+0+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

CareDx has an F-score of 6 indicating the company's financial situation is typical for a stable company.

CareDx  (NAS:CDNA) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


CareDx Piotroski F-Score Related Terms

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CareDx Business Description

Traded in Other Exchanges
Address
8000 Marina Boulevard, Brisbane, CA, USA, 94005
CareDx Inc operates as a precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. It offers testing services, products, and digital solutions along with the pre- and post-transplant patient journey and is a provider of genomics-based information for transplant patients. The Company's commercially available testing services consist of AlloSure Kidney, AlloMap Heart, AlloSure Heart, a dd-cfDNA solution for heart transplant patients, and AlloSure Lung, a dd-cfDNA solution for lung transplant patients. Geographically the company generates the majority of its revenue from the United States. The company generates the majority of revenue from the Testing services.
Executives
Christine Cournoyer director 150 SHAW ROAD, CHESTNUT MA 02467
Peter Maag director, officer: President and CEO CAREDX, INC., 3260 BAYSHORE BOULEVARD, BRISBANE CA 94005
Abhishek Jain officer: See Remarks C/O CAREDX, INC., 1 TOWER PLACE, 9TH FLOOR, SOUTH SAN FRANCISCO CA 94080
George Bickerstaff director C/O VION PHARMACEUTICALS, INC., 4 SCIENCE PARK, NEW HAVEN CT 06511
Alexander L Johnson officer: Chief Business Officer C/O DIADEXUS, INC., 349 OYSTER POINT BOULEVARD, SOUTH SAN FRANCISCO CA 94080
Reginald Seeto officer: See Remarks C/O ARDELYX, INC., 34175 ARDENWOOD BLVD, SUITE 200, FREMONT CA 94555
Abraham Ronai officer: See Remarks C/O CAREDX, INC., 8000 MARINA BLVD, BRISBANE CA 94005
Grace Colon director C/O CAREDX, INC., 3260 BAYSHORE BOULEVARD, BRISBANE CA 94005
Michael Goldberg director 3000 SAND HILL ROAD, BUILDING 3, SUITE 290, MENLO PARK CA 94025
Ankur Dhingra officer: Chief Financial Officer C/O CAREDX, INC., 1 TOWER PLACE, 9TH FLOOR, SOUTH SAN FRANCISCO CA 94080
Arthur A Torres director 87 BVENA VISTA TERRACE, SAN FRANCISCO CA 94117
Hannah Valantine director 1305 O'BRIEN DRIVE, MENLO PARK CA 94025
Sasha King officer: Chief Commercial Officer C/O CAREDX, INC., 3260 BAYSHORE BOULEVARD, BRISBANE CA 94005
William A Hagstrom director 320 WAKARA WAY, SALT LAKE CITY UT 84108
Ralph Snyderman director C/O SAIC, 10260 CAMPUS POINT DR M/S F3, SAN DIEGO CA 92121