# Caris Life Sciences, Inc. (CAI)

> Source: Nexqual · https://nexqual.com/CAI · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Caris Life Sciences, Inc. (CAI), nexqual.com/CAI" · informational, not investment advice.

**Price:** USD 31.76 (+4.97% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 30.26 · day 28.8–32.15 · 52w 14.19–33.65 · market cap $8.98B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $990M, net income $105M (10.6% margin), free cash flow $124M (SEC filings).
- Valuation: P/E 85.4x.
- Analysts: Buy (mean 2.21 on a 1–5 scale) (14 analysts), mean target USD 31.62 (range 22–38).
- Total return with dividends: 1Y -0.6% vs S&P 500 +18.1%; 5Y +16.6% vs S&P 500 +85.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.02, revenue estimate $255M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2025 | FY2025 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $306M | $412M | $812M | $990M |
| Operating income | -$320M | -$257M | $45.1M | $153M |
| Net income | -$341M | -$282M | -$68.1M | $105M |
| EPS (diluted) | -$13.24 | -$10.66 | -$3.22 | — |
| Free cash flow | -$298M | -$254M | $66.9M | $124M |
| Operating margin | -104.4% | -62.4% | 5.6% | 15.5% |
| Net margin | -111.5% | -68.4% | -8.4% | 10.6% |
| Revenue growth | — | +34.7% | +97.0% | — |
| Cash + short-term investments | — | $66.2M | $799M | — |
| Total debt | — | $380M | $379M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 85.4x · P/S 9.1x · P/FCF 72.4x · P/B 15.2x · FCF yield 1.38% · Earnings yield 1.17% · Buyback yield (TTM) 0.24%

## Analysts
Consensus Buy (mean 2.21 on a 1–5 scale), 14 analysts; mean target USD 31.62 (low 22, high 38).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | JP Morgan | Target raised | Overweight | $25 → $35 |
| 2026-10-13 | TD Cowen | Target raised | Buy | $30 → $36 |
| 2026-09-09 | UBS | Initiated | Neutral | $28 |
| 2026-08-06 | Evercore ISI Group | Target raised | Outperform | $25 → $26 |
| 2026-08-06 | BTIG | Target raised | Buy | $32 → $33 |
| 2026-08-05 | JP Morgan | Target lowered | Overweight | $30 → $25 |
| 2026-07-06 | Evercore ISI Group | Target lowered | Outperform | $30 → $25 |
| 2026-07-02 | BTIG | Reiterated | Buy | $32 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2025-06-16) |
|---|---|---|
| Total return | -0.6% | +16.6% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -0.6% | +12.2% |
| Volatility (annualized) | 68.5% | 65.5% |
| Max drawdown | -54.5% (Oct 2025→May 2026) | -63.0% (Aug 2025→May 2026) |

## Peers (Biotechnology)
TGTX (TG Therapeutics, Inc.) USD 56 +3.05% · AXSM (Axsome Therapeutics, Inc.) USD 161.79 +3.50% · PTGX (Protagonist Therapeutics, Inc.) USD 136.55 -1.40% · CYTK (Cytokinetics, Incorporated) USD 63.92 +3.73% · TWST (Twist Bioscience Corporation) USD 144.49 -4.52% · KYMR (Kymera Therapeutics, Inc.) USD 108.14 +1.37%

## More
Full page: https://nexqual.com/CAI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt