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what it is
Myriad sells genetic tests that help doctors spot disease risk, guide treatment, and decide which drugs might work for you.
how it gets paid
Last year Myriad Genetics made $824M in revenue. oncology testing was the main engine at $341M, or 41% of sales.
why growth slowed
Revenue fell 1.6% last year. Reported quarterly figures in the source set show $615M of revenue.
what just happened
Myriad's latest report was a data tangle, but the clean takeaway is a consensus EPS beat with actual results of -$0.08 versus -$0.35 expected.
At a glance
C++ balance sheet — some cracks in the foundation
25/100 earnings predictability — expect surprises
0.4x trailing p/e — the market's not buying it — or you found a deal
-$1.41 fy2024 eps est
$2B fy2026 rev est
xvary composite: 41/100 — below average
What they do
Myriad sells genetic tests that help doctors spot disease risk, guide treatment, and decide which drugs might work for you.
If your doctor already uses one lab's workflow, switching means new paperwork, new billing fights, and new clinical habits. Myriad has about 500 salespeople across its channels, selling mainly in the U.S. and Japan, so its tests show up where treatment decisions get made. That reach is the edge: this is a distribution business wearing a science coat.
How they make money
$824M
annual revenue · their business grew -1.6% last year
oncology testing
$341M
women's health testing
$289M
pharmacogenomics testing
$141M
other diagnostic services
$53M
The products that matter
core oncology diagnostics
Oncology Tests
~$660M · about 80% of the mix shown here
this is the current engine. At roughly $660M, it is doing most of the revenue work already. If this line stalls, the rest of the story stops looking like growth and starts looking like hope.
current engine
minimal residual disease testing
Precise MRD
commercial launch in 2026
there is no current revenue line for this product in the snapshot data. That is the whole point. You are being asked to underwrite adoption before you can underwrite cash flow.
the bet
non-oncology diagnostics
Other Diagnostics
~$164M · about 20% of mix
this smaller bucket is flat to declining. That matters because it means Myriad does not have many spare growth engines if the flagship launch slips or disappoints.
limited backup
Key numbers
$204M
long-term debt
Debt equals 32% of capital, or about 46.8% of the $436M market cap, so your upside sits next to a real balance-sheet weight.
47.0%
operating margin
Operating margin → profit after running the business → so what: the core business still loses almost half of every revenue dollar.
$824M
annual revenue
This is not a tiny science project. It is a large testing platform that still has not translated scale into profit.
69.9%
gross margin
Gross margin → money left after delivering the test → so what: the product economics look decent, but overhead is eating the company alive.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $204M (32% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for MYGN right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Myriad's latest report was a data tangle, but the clean takeaway is a consensus EPS beat with actual results of -$0.08 versus -$0.35 expected.
Reported quarterly figures in the source set show $615M of revenue, -$3.88 EPS, and 69.9% gross margin, while consensus shows a much smaller EPS loss. The quiet part: even when the quarter looks better than expected, the full business still ran at a -47.0% operating margin.
$615M
revenue
$3.88
eps
69.9%
gross margin
the number that mattered
The most important number is 69.9% gross margin, because it says the tests can make money before overhead, which means the turnaround is about cost control, not product viability.
source: company earnings report, 2026
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What could go wrong
Myriad's risk stack is unusually concentrated. Roughly $660M of the business sits in oncology testing, the new product that matters most is still pre-revenue in this snapshot, and the company carries $204M of debt while losses persist.
med
Precise MRD launches, but adoption lands soft
Launch timing is only half the story. If the 2026 rollout happens but doctors do not order the test fast enough, you still do not get the revenue bridge bulls are underwriting today.
The result is simple: the stock keeps trading on promise while the core business does the heavy lifting alone.
med
gross margin pressure outlasts the guide
A 68% target versus 71.2% in Q2 2025 is more than 300 basis points lower. When revenue growth is only about 6%, that amount of slippage can overpower the top-line progress quickly.
If margin stays weak, you get the bad combination: a growing revenue line that still fails to clean up the earnings story.
med
$204M of debt narrows your margin for error
$204M is 32% of capital and nearly half the current $436M market cap. That is manageable for a steady cash machine. It is less comfortable for a company with a -$1.41 EPS estimate and a 25/100 predictability score.
The risk is not immediate distress. The risk is strategic constraint if execution stays uneven for longer than expected.
Put those together and you get the real exposure: modest guided growth, lower targeted margin, and a future product doing a lot of narrative work before it does any visible revenue work.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
the next guide check on $860M
Watch whether management keeps the $860M revenue target intact. When predictability is 25/100, guidance quality matters almost as much as the quarter itself.
trend
Precise MRD moves from launch plan to reported revenue
This is the highlighted card for a reason. The upside case gets cleaner the moment Precise MRD stops being a roadmap line and starts showing up in the operating results.
risk
gross margin versus the 68% target
If margin keeps landing below the old 71.2% reference point, revenue growth alone will not save the story. This business needs both volume and quality.
metric
earnings predictability at 25/100
That score is not abstract. If revisions keep coming, your multiple rarely gets the benefit of the doubt.
Analyst rankings
short-term outlook
mixed
coverage looks thin and the story still needs proof. in human-speak, nobody is handing you an easy consensus here.
risk profile
volatile
a 10/100 price stability score tells you this rarely trades like a sleepy diagnostics name.
chart momentum
catalyst-driven
this stock will respond more to launch progress, guidance changes, and margin signals than to a smooth trend.
earnings predictability
25/100
predictability this low means one quarter can change the argument fast. You should read this as an execution-risk badge.
source: institutional data
Institutional activity
institutional ownership data for MYGN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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