# Adaptive Biotechnologies Corporation (ADPT) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $24.28, market value $3.9 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Adaptive Biotechnologies Corporation reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 12.6×**. Each dollar of revenue is priced at 12.6×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 27.0×**. The shares trade at 27.0× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: -0.6%** (5-yr avg -12.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -12.2%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -21.5%**. The company reported a net loss over the last twelve months.
- **Return on equity: -27.2%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -10.6%**. Return on all capital, debt included, is -10.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -12.5%**. Each dollar of assets produces -12.5% of profit.

## Growth
- **Revenue growth (1 yr): 54.8%** (3-yr 14.3%/yr, 5-yr 23.0%/yr). Revenue grew 54.8% over the last year, against 23.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 63.9%**. Earnings per share rose 63.9%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.60**. Debt is 0.60 times equity, moderate leverage.
- **Net debt / EBITDA: net cash**. Adaptive Biotechnologies Corporation holds more cash than debt.
- **Altman Z-score: 8.85**. A Z-score of 8.85 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Adaptive Biotechnologies Corporation does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (7 analysts). 7 analysts cover Adaptive Biotechnologies Corporation; the consensus is strong_buy, with an average price target of $25.07 (+3% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 86.5%** (YTD 49.5%, 3-mo 43.7%). The shares are up 86.5% over twelve months including dividends.
- **From 52-week high: -9.6%** (102.3% above the low). Trading 10% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 48**. An RSI of 48 is neutral.
- **Beta (1 yr): 1.86** (volatility 69%). Beta of 1.86 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ADPT · Page: https://foliofundamentals.com/stocks/adpt

Not investment advice.