Fulgent Genetics (FLGT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Fulgent Genetics

NasdaqGM•Healthcare•Diagnostics & Research

$20.12+0.27(0.01%)After hours

Market Cap

$607.43M

P/S

1.9x

P/B

0.6x

Fulgent Genetics, Inc. provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases. Its therapeutic development solutions focus on developing drug candidates for treating a range of cancers using a nanoencapsulation and targeted therapy platform to enhance the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The company operates picture genetics platform, which includes gene probes, data suppression and comparison algorithms, adaptive learning software, and proprietary laboratory information management systems that helps customers to identify health markers in their personal DNA. It serves insurance, hospitals, medical institutions, other laboratories, governmental bodies, payors, large corporations, and patients. Fulgent Genetics, Inc. was formerly known as Fulgent Diagnostics, Inc. and changed its name to Fulgent Genetics, Inc. in August 2016. The company was founded in 2011 and is headquartered in El Monte, California.

How this company scores

WeakMetricSide Score: 46/100

Grade capped at D — Interest coverage below 1× (-518.1x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (17/25); weakest: Profitability (5/25).

Profitability5/25

Growth15/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality9/25

Strengths

Low leverageImproving leverageConsistent growthNet cash position

Grade capped at D

Interest coverage below 1× (-518.1x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 6.2x5y range 4.1x – 6.2x

Currently above its 6-quarter median.

P/S · 1.9x5y range 1.4x – 3.7x

Currently near its 20-quarter median.

P/B · 0.6x5y range 0.5x – 2.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $607.43M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $323.93M
Q. Revenue: $85.39M
TTM EBITDA: $-96.46M
TTM Op. Income: $-122.28M
Q. Op. Income: $-36.07M
TTM Net Income: $-84.38M
Q. Net Income: $-29.53M
EPS: $-1.05
Shares Out.: $28.00M

$323.93M in TTM revenue grew 6.8% YoY, reaching $85.39M last quarter. TTM EBITDA of $-96.46M and TTM operating income of $-122.28M show growth is flowing through to the bottom line. However, net income is negative at $84.38M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 7% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 30.1%
EBITDA Margin: -33.3%
Op. Margin: -42.2%
Net Margin: -34.6%

Op. margin of -42.2% is down 18.1% YoY — costs are rising relative to revenue. Net margin at -34.6% and gross margin of 30.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 75% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.9x
P/B Ratio: 0.6x

P/S of 1.9x and P/B of 0.6x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.09B
Cash: $26.30M
Long-Term Debt: $1.48M
Book Value: $1.00B
D/E Ratio: 0.0
Debt/EBITDA: N/A

With $1.09B in assets and $1.48M in long-term debt, D/E is 0.0and book value is $1.00B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 16% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-23.76M
TTM Free Cash Flow: $-103.79M
FCF Margin: -32.0%
FCF / Net Income: 1.2

TTM FCF of $-103.79M on $-23.76M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.