Caredx Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Caredx Inc (CDNA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Caredx Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 497M vs 7,997M combined for its competitors (5.9% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+12.1% annualized vs trailing 12 months), vs holding steady (+1.6%) for its tracked peer group.
- Growth: Caredx Inc generated 39.3% revenue growth year over year in Q3 2026, vs 2.9% for its competitors combined.
- Profitability: Its 13.8% net margin compares with 10.4% for the peer group.
- Scale: Caredx Inc ranks #15 of 46 companies by market capitalization in the Medical Laboratories industry, holding 1.2% of industry market cap.
- Peer revenue share: Caredx Inc accounted for 6.4% of combined revenue among its tracked peer group, up from 4.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.65M compares with $0.43M for the peer group (1.5x).
- Structure: Caredx Inc operates in the following segments: Reportable.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CDNA Sales vs. its Competitors, Q3 2026
Caredx Inc reported revenue growth of 39.29 % year on year in Q3 2026, above its competitors' combined revenue growth of 2.88 %.
With a net margin of 13.84 %, Caredx Inc achieved higher profitability than its competitors (10.43 %).
Caredx Inc generated 6.42 % of the combined sales of its peer group, up from 4.82 % a year earlier.
API endpoints for this dataset
Caredx Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Caredx Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Caredx Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Caredx Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Caredx Inc's competitor groups requires a Commercial License.
For context: the Medical Laboratories industry grew revenue 9.0% year over year, combined, vs 39.3% for Caredx Inc. Caredx Inc's share of combined industry revenue moved from 0.18% to 0.23%, a gain of 0.05 percentage points.
Caredx Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Caredx Inc | Yes | Yes | Yes | No |
| Competitors combined (18) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
CDNA Stock Performance relative to its Competitors
CDNA Stock Performance relative to High-Confidence Competitors
CDNA Stock Performance relative to Similar-Size Competitors
CDNA Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Exact Sciences Corporation | 282.9% | Outperformed |
| 2 | Fortrea Holdings Inc | 282.9% | Outperformed |
| 3 | Illumina Inc | 282.9% | Outperformed |
| 4 | Personalis Inc | 282.9% | Outperformed |
| 5 | Natera Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Caredx Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Caredx Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Caredx Inc |
4,319.62 | 497.40 |
 Natera Inc |
44,512.49 | 2,707.08 |
 Illumina Inc |
32,822.02 | 4,538.00 |
 Guardant Health Inc |
20,045.64 | 1,183.11 |
 Exact Sciences Corporation |
19,599.02 | 3,245.31 |
 Grail Inc |
5,235.59 | 165.26 |
| SUBTOTAL | 135,935.09 | 17,823.83 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Caredx Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Caredx Inc's Competitors Named by the Company
Competitive relationships identified from Caredx Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Natera, Inc. | Company report | 85% |
| Oncocyte Corporation | Company report | 85% |
| Eurofins Transplant Genomics, Inc. | Company report | 85% |
| Devyser Diagnostics AB | Company report | 85% |
| GenDx | Company report | 85% |
| Thermo Fisher | Company report | 85% |
| BAG | Company report | 85% |
| Omixon | Company report | 85% |
| Immucor | Company report | 85% |
| Qiagen | Company report | 85% |
| One Lambda | Company report | 85% |
| Eurofins Viracor, Inc. | Company report | 85% |
| Linkage Biosciences | Company report | 85% |
| Immuco | Company report | 85% |
| Prenetics Global Limited | Company report | 85% |
| Guardant Health Inc | Company report | 85% |
| Centogene N v | Company report | 85% |
| Myriad Genetics Inc | Company report | 85% |
| Volitionrx Limited | Company report | 85% |
Company report basis, confidence, active dates and source counts for Caredx Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Caredx Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Caredx Inc | Reportable 100.00 % |
| Natera Inc | Reportable 100.00 % |
| Illumina Inc | Sequencing 90.43 % |
| Guardant Health Inc | Reportable 100.00 % |
| Grail Inc | Reportable 100.00 % |
| Fortrea Holdings Inc | Clinical Services 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Caredx Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Caredx Inc | 4,320 | 650,191 | 168,142 |
| Natera Inc | 44,512 | 440,892 | -31,327 |
| Illumina Inc | 32,822 | 3,545,313 | 699,219 |
| Guardant Health Inc | 20,046 | 472,109 | -180,940 |
| Exact Sciences Corporation | 19,599 | 450,738 | -28,882 |
| Grail Inc | 5,236 | 181,608 | -430,315 |
| PEERS TOTAL | 131,615 | 425,701 | -19,721 |
Caredx Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Caredx Inc | United States 99.60 % |
| Natera Inc | United States 98.02 % |
| Illumina Inc | United States and Canada 56.42 % |
| Guardant Health Inc | United States 95.67 % |
| Exact Sciences Corporation | United States 93.11 % |
| Fortrea Holdings Inc | North America 47.14 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Caredx Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 41 companies in Caredx Inc's industry classification, broader than the peer set above. Market cap in millions of $.Caredx Inc ranks #15 of 41 companies by market capitalization in its industry, holding 1.19 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 805, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Iqvia Holdings Inc | 45,477 | 12.91 % |
| 2 | Natera Inc | 44,512 | 12.63 % |
| 3 | Ge Healthcare Technologies Inc | 37,401 | 10.62 % |
| 4 | Labcorp Holdings Inc | 30,059 | 8.53 % |
| 5 | Quest Diagnostics Inc | 1,234 | 5.2% |
| 6 | Koninklijke Philips Nv | 1,234 | 5.2% |
| 7 | Incyte Corporation | 1,234 | 5.2% |
| 8 | Guardant Health Inc | 1,234 | 5.2% |
| 9 | Medpace Holdings Inc | 1,234 | 5.2% |
| 10 | Charles River Laboratories International inc | 1,234 | 5.2% |
| 15 | Caredx Inc | 4,197 | 1.19 % |
Market cap and industry share for the rest of Caredx Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Caredx Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 10 | Charles River Laboratories International inc | 16,208 | 97.26 % |
| 11 | Icon Plc | 15,830 | 26.22 % |
| 12 | Billiontoone Inc | 6,205 | - |
| 13 | Radnet Inc | 5,984 | -1.68 % |
| 14 | Grail Inc | 1,234 | 12.3% |
| 15 | Caredx Inc | 4,197 | 377.50 % |
| 16 | Celcuity Inc | 1,234 | 12.3% |
| 17 | Viridian Therapeutics Inc | 1,234 | 12.3% |
| 18 | Fortrea Holdings Inc | 1,234 | 12.3% |
| 19 | Veracyte Inc | 1,234 | 12.3% |
| 20 | Butterfly Network Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Caredx Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Caredx Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Laboratories industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (77 companies). See the full Medical Laboratories industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 51.13 % | 33.08 % (avg) | +18.1 pp |
| Operating Margin | 23.42 % | industry median | +13.0 pp |
| EBITDA Margin | 30.21 % | -4.77 % (avg) | +35.0 pp |
| Capital Intensity (Capex / Revenue) | 0.67 % | 7.47 % (avg) | -6.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Caredx Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Laboratories industry average (77 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Medical Laboratories industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 19.0x | 39.0x | -20.0x |
| EV / EBITDA | 15.3x | 20.9x | -5.6x |
| P/B | 6.6x | 4.3x | +2.3x |
| Return on Equity | 34.08 % | industry aggregate | 18.04 % |
| Return on Invested Capital | 14.62 % | -7.66 % (avg) | 22.28 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Caredx Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 58.45 % | 65.95 % | 51.25 % | 54.22 % | 8.57 % | -12.89 % | 19.07 % | 13.79 % |
| Operating Margin | -20.35 % | -19.31 % | -11.72 % | -10.03 % | -24.00 % | -72.55 % | 9.31 % | -8.10 % |
| Return on Invested Capital | -11.97 % | -11.66 % | -4.71 % | -3.07 % | -8.46 % | -25.46 % | 4.50 % | -4.36 % |
| P/E | - | - | - | - | - | - | 27.6x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Caredx Inc's Strategic Group Map
Caredx Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Caredx Inc's trailing-12-month revenue growth of 38.9% and operating margin of 23.4% compares with an average of 20.5% growth and 12.7% margin across its 8 closest peers by combined growth, margin and ROIC -- Caredx Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Caredx Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Caredx Inc falls in the Dog quadrant: relative market share of 0.09x vs its largest competitor, in an industry growing revenue 6.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Caredx Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 805 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.67 % vs industry average 7.47 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Caredx Inc's dedicated Suppliers and Customers pages, not here.
Caredx Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Caredx Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Caredx Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 13.0 points above the industry median.
- Return on equity 18.0 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+12.1% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.09x).
Opportunities
- Trades at a lower P/E than the industry average (19.0x vs 39.0x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Caredx Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Caredx Inc | 1.91 | 3.18 | - |
| Natera Inc | - | 3.14 | 0.05 |
| Illumina Inc | - | 2.02 | 0.68 |
| Guardant Health Inc | 2.56 | 4.29 | - |
| Exact Sciences Corporation | 1.22 | 2.68 | 0.95 |
| Grail Inc | 4.14 | 10.58 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Caredx Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Caredx Inc | Q3 2026 | +39.3 % | +1,051.8 % |
| Natera Inc | Q2 2026 | +37.7 % | - |
| Illumina Inc | Q3 2026 | +4.2 % | +46.7 % |
| Guardant Health Inc | Q2 2026 | +44.3 % | - |
| Exact Sciences Corporation | Q4 2025 | +23.1 % | - |
| Grail Inc | Q2 2026 | +25.7 % | - |
| PEERS TOTAL | +16.1 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Caredx Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Caredx Inc | Q3 2026 | +424.9 % | -18.4 % |
| Natera Inc | Q2 2026 | -99.3 % | +144.9 % |
| Illumina Inc | Q3 2026 | -14.8 % | +29.0 % |
| Guardant Health Inc | Q2 2026 | +42.8 % | +108.2 % |
| Exact Sciences Corporation | Q4 2025 | +19.5 % | - |
| Grail Inc | Q2 2026 | - | +17.1 % |
Caredx Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Caredx Inc | 25.74% | 30.65% | 34.08% |
| Natera Inc | - | - | - |
| Illumina Inc | 13.43% | 18.74% | 31.45% |
| Guardant Health Inc | - | - | - |
| Exact Sciences Corporation | - | - | - |
| Grail Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Caredx Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Caredx Inc | 32.88 | 8.68 |
| Natera Inc | - | 16.44 |
| Illumina Inc | 36.81 | 7.23 |
| Guardant Health Inc | - | 16.94 |
| Exact Sciences Corporation | - | 6.04 |
| Grail Inc | - | 31.68 |
| PEERS AVERAGE | - | 7.63 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.