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ZYBERNO

Stock Report

Updated Aug 30, 2026

CARIS LIFE SCIENCES, INC. (CAI)

Healthcare • NASDAQ

$25.63

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

45.0/100

WEAK BUSINESS

CARIS LIFE SCIENCES, INC. (CAI) scores 45/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full CAI quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-42.8%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full CAI valuation analysis · → View full CAI Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-9.2%)

Debt-to-Equity (Solvency Risk):AVERAGE (0.75x)

Operating Margin (Operational Efficiency):POOR (5.3%)

Return on Capital (Capital Efficiency):EXCELLENT (20.5%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

CARIS LIFE SCIENCES, INC. (CAI) stock report — Zyberno Score 45/100 (WEAK BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, CARIS LIFE SCIENCES, INC. (CAI) shows a Brina Gap of -42.8%, which weakens the case: based on the company's ROIC (20.5%) and reinvestment rate (-18.1%), the business can fundamentally grow at -3.7% — but the current enterprise value implies the market expects 39.1%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:25.63

Market Cap:$7.25B

Valuation Multiples (3)

P/B Ratio:12.25x

P/S Ratio:8.26x

Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$6.83B

Ev Ebitda Ratio:97.95x

Pfcf Ratio:108.39x

Price Action & Momentum (2)

12-1 Momentum:

-44.7%

📈 Click to view full CAI Momentum analysis →

% of 52-Week High:63.4%

B. Profitability Assessment

Return Metrics (7)

ROE:

-9.2%

📊 Click to view full CAI ROE analysis →

ROA:-4.5%

Roic:

20.5%

📊 Click to view full CAI ROIC analysis →

Reinvestment Rate:-18.1%

Fundamental Growth Rate (g):-3.7%

Market-Implied Growth Rate:39.1%

Brina Gap:

-42.8%

☷ Click to view full CAI Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:5.3%

Net Margin Ttm:-5.5%

Ebitda Margin:7.9%

TTM Performance (2)

Operating Margin Ttm:5.3%

Net Margin Ttm:-5.5%

Yield Metrics (2)

Earnings Yield:-$30.78

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):34.8%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:5.53x

Quick Ratio:5.53x

Cash Ratio:4.28x

Leverage Analysis (3)

Debt To Equity Ttm:0.75x

Debt-to-Equity Ratio:0.75x

Debt To Ebitda:5.73x

Coverage Ratios (2)

Interest Coverage Ratio:0.82x

Times Interest Earned:0.82

Capital Structure (4)

Working Capital:866,391,000.00

Cash And Cash Equivalents:819,901,000.00

Long Term Debt:$392.97M

Net Debt:-$420.56M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $878.12M

Linear Growth: 34.8%

📊 Click to view full CAI Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

$0.00$46.86M

Bottom Line Performance (3)

-$48.61M

Income Before Tax:-$48.72M

Ebitda Ttm:69,726,000.00

Operating Expenses (5)

Operating Expenses:831,256,000.00

R And D Expense:110,344,000.00

Sga Expense:242,596,000.00

Income Tax Expense:-$111.00K

Interest Expense:54,752,000.00

Expense Ratios (3)

R And D To Revenue Percentage:41.8%

Sga To Revenue Percentage:92.0%

Ebitda Margin:7.9%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.23B

Current Assets:$1.06B

Ppe Net:347,131,000.00

Goodwill:19,344,000.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:637,886,000.00

Current Liabilities:191,437,000.00

Long Term Debt:$392.97M

Short Term Debt:$6.37M

Equity & Capital (3)

Equity:$591.73M

Retained Earnings:-$2.55B

Common Stock:2,800,000,000.00

Working Capital Items (3)

Accounts Receivable:116,888,000.00

Inventory:0.00

Accounts Payable:85,986,000.00

Special Items (2)

Contract Liabilities:21,056,000.00

Stock Based Compensation:22,219,000.00

C. Cash Flow Analysis

Operating Activities (2)

$83.16M$66.90M

Investment Activities (1)

Investing Cash Flow:-$10.34M

Financing Activities (3)

Financing Cash Flow:$824.00K

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:22,865,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-7.88

-$7.89

Earnings Per Share Ttm:-$0.17

Revenue & Cash Per Share (2)

Sales Per Share Ttm:3.10

Operating Cash Flow Per Share:$0.29

Book Value & Capital (2)

Book Value Per Share:$2.09

Cash Per Share:2.90

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.81x

Working Capital Turnover Ttm:1.01x

Receivables Management (2)

Receivables Turnover Ttm:7.51x

Days Sales Outstanding Ttm:48.59

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:35.74

Cash Conversion Cycle:-986.16

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00

Quality Score:40.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (4)

Reinvestment Rate:-18.1%

Fundamental Growth Rate (g):-3.7%

Market-Implied Growth Rate:39.1%

Brina Gap:

-42.8%

☷ Click to view full CAI Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):34.8%

Other Growth Rates (1)

Book Value Growth Rate (Linear):35.1%

C. Company Profile & Context

Corporate Information (6)

Symbol:CAI

Company Name:CARIS LIFE SCIENCES, INC.

Sector:Healthcare

Industry:Services-Medical Laboratories

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:282.89M

Shares Outstanding Basic:282.89M

Shares Outstanding Diluted:282.89M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-30 07:25:36 UTC

Data Timestamp:2026-08-30T07:25:36.341040