BNR Burning Rock Biotech Limited - American Depositary Shares
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 28, 2026
$16.25
· of 52w range
· above low
· to high
$6.7952w low
$39.6252w high
Revenue
$540M
your badges
52W Range
$7–$40
Analyst Rating
BUY
Price Target
·
P/E
·
ROE
-9.9%
Net Profit Margin
-10.3%
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BNR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$16.25
Revenue
$540M
ROE
-9.9%
52W Range
$7–$40
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| May 15, 2024 | 1-for-10 | Reverse |
About Burning Rock Biotech Limited - American Depositary Shares Company overview from Wikipedia
sectorHealthcare
industryBiotechnology
employees667
countryCN
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$540M2018-12-31 → 2025-12-31
Free Cash Flow$-34M2020-12-31 → 2025-12-31
Net margin-10.3%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | BNR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin | 74.7%5Y avg ≈70.3% | ≈70.3% | · | · | |
| Operating Margin | -10.2%5Y avg ≈-107.0% | ≈-107.0% | · | · | |
| EBITDA Margin | -6.1%5Y avg ≈-92.9% | ≈-92.9% | · | · | |
| Pretax Margin | -10.0%5Y avg ≈-105.2% | ≈-105.2% | · | · | |
| Net Profit Margin | -10.3%5Y avg ≈-105.7% | ≈-105.7% | · | · | |
| ROA | -6.5%5Y avg ≈-34.9% | ≈-34.9% | · | · | |
| ROE | -9.9%5Y avg ≈-46.2% | ≈-46.2% | · | · | |
| ROIC | -10.5%5Y avg ≈-57.7% | ≈-57.7% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | BNR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio | 3.05Y avg ≈3.4 | ≈3.4 | · | · | |
| Quick Ratio | 2.65Y avg ≈2.9 | ≈2.9 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | BNR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.65Y avg ≈0.4 | ≈0.4 | · | · | |
| Inventory Turnover | 2.75Y avg ≈1.9 | ≈1.9 | · | · | |
| Receivables Turnover | 3.45Y avg ≈4.6 | ≈4.6 | · | · | |
| Revenue / Employee | ≈$808.9K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-16.2%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Sept. 30, 2022 | $-22.30 | $-23.73 | 6.0% | |
| June 30, 2022 | $-25.00 | $-24.24 | -3.1% | |
| March 31, 2022 | $-25.00 | $-24.34 | -2.7% | |
| Dec. 31, 2021 | $-24.00 | $-17.07 | -40.6% | |
| March 31, 2021 | $-24.00 | $-17.07 | -40.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $540M | $516M | $537M | $563M | $508M | $430M | $382M | |
| Cost of Revenue | $137M | $153M | $174M | $183M | $144M | $116M | $108M | |
| Gross Profit | $403M | $362M | $363M | $380M | $364M | $314M | $273M | |
| R&D Expense | $166M | $232M | $347M | $422M | $368M | $264M | $157M | |
| SG&A Expense | $126M | $262M | $438M | $568M | $490M | $294M | $132M | |
| Operating Income | $-55M | $-358M | $-669M | $-980M | $-797M | $-412M | $-169M | |
| Interest Expense | · | · | · | · | $2M | $667.0K | $9M | |
| Interest Income | $8M | $12M | $18M | $9M | $3M | $6M | $11M | |
| Pretax Income | $-54M | $-341M | $-651M | $-969M | $-796M | $-407M | $-169M | |
| Income Tax | $2M | $6M | $2M | $2M | $899.0K | $0 | $0 | |
| Net Income | $-55M | $-347M | $-654M | $-971M | $-797M | $-407M | $-169M | |
| EBITDA | $-33M | $-305M | $-536M | $-856M | $-749M | $-379M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $478M | $520M | $615M | $905M | $1.43B | $1.90B | $94M | |
| Short-term Investments | · | · | · | $0 | $64M | $362M | $314M | |
| Receivables | $170M | $152M | $127M | $110M | $92M | $88M | $89M | |
| Inventory | $49M | $54M | $69M | $130M | $123M | $68M | $58M | |
| Prepaid Expense | $5M | $12M | $16M | $21M | $31M | $15M | $14M | |
| Current Assets | $739M | $777M | $884M | $1.26B | $1.82B | $2.52B | $707M | |
| PP&E (Net) | $31M | $47M | $132M | $252M | $325M | $111M | $89M | |
| PP&E (Gross) | $521M | $529M | $536M | $529M | $486M | $231M | $182M | |
| Accum. Depreciation | $458M | $448M | $404M | $277M | $161M | $119M | $93M | |
| Intangibles | $284.0K | $421.0K | $964.0K | $2M | $5M | $3M | $343.0K | |
| Other Non-current Assets | $8M | $8M | $5M | $21M | $45M | $23M | $11M | |
| Total Assets | $820M | $885M | $1.04B | $1.59B | $2.28B | $2.66B | $848M | |
| Accounts Payable | $41M | $34M | $18M | $51M | $63M | $35M | $12M | |
| Short-term Debt | · | · | · | $0 | $2M | $7M | $2M | |
| Current Liabilities | $247M | $266M | $263M | $411M | $372M | $242M | $164M | |
| Capital Leases | $24M | $28M | $4M | $14M | $49M | $0 | $5M | |
| Other Non-current Liabilities | $12M | $10M | $5M | $4M | $12M | $228.0K | $0 | |
| Total Liabilities | $285M | $304M | $272M | $429M | $433M | $242M | $212M | |
| Total Debt | · | · | · | $0 | $2M | $7M | · | |
| Common Stock | · | · | · | · | · | $0 | $31.0K | |
| Paid-in Capital | $5.01B | $5.00B | $4.85B | $4.58B | $4.28B | $4.01B | $46M | |
| Retained Earnings | $-4.26B | $-4.20B | $-3.85B | $-3.20B | $-2.23B | $-1.42B | $-946M | |
| Treasury Stock | $57M | $63M | $66M | $59M | $0 | · | · | |
| AOCI | $-162M | $-158M | $-162M | $-166M | $-207M | $-168M | $9M | |
| Stockholders' Equity | $535M | $581M | $768M | $1.16B | $1.85B | $2.42B | $-891M | |
| Liabilities + Equity | $820M | $885M | $1.04B | $1.59B | $2.28B | $2.66B | $848M | |
| Shares Outstanding | · | · | · | · | · | 0 | 25,031,575 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $22M | $52M | $133M | $124M | $48M | $33M | $31M | |
| Stock-based Comp | $14M | $156M | $261M | $327M | $282M | $173M | $23M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | · | · | |
| Amort. of Intangibles | $137.0K | $813.0K | $2M | $3M | $3M | $852.0K | $540.0K | |
| Other Non-cash | $-9M | $47M | $4M | $64M | $-11M | $127M | · | |
| Operating Cash Flow | $-28M | $-92M | $-256M | $-457M | $-478M | $-74M | $-228M | |
| CapEx | $5M | $5M | $8M | $62M | $204M | $60M | $43M | |
| Investing Cash Flow | $-4M | $-4M | $-9M | $-7M | $82M | $-109M | $-347M | |
| Debt Issued | $2M | $0 | $0 | $0 | $0 | $18M | $15M | |
| Net Debt Issued | $2M | · | $0 | $0 | $-35M | $18M | · | |
| Stock Issued | · | · | · | · | · | $701.0K | · | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $4M | |
| Net Stock Activity | · | · | · | · | $0 | $701.0K | · | |
| Financing Cash Flow | $2M | $-72.0K | $-49M | $-86M | $-53M | $2.17B | $572M | |
| Net Change in Cash | $-41M | $-93M | $-310M | $-514M | $-486M | $1.83B | $3M | |
| Taxes Paid | $0 | $0 | $0 | $98.0K | $1M | $0 | $0 | |
| Free Cash Flow | $-34M | $-98M | $-264M | $-519M | $-682M | $-134M | · | |
| Levered FCF | · | · | · | · | $-684M | $-134M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.7% | 70.3% | 67.6% | 67.5% | 71.7% | 73.0% | · | |
| Operating Margin | -10.2% | -69.3% | -124.5% | -174.1% | -156.9% | -95.9% | · | |
| Net Margin | -10.3% | -67.2% | -121.6% | -172.4% | -156.9% | -94.7% | · | |
| Pretax Margin | -10.0% | -66.1% | -121.2% | -172.1% | -156.7% | -94.7% | · | |
| EBITDA Margin | -6.1% | -59.2% | -99.7% | -152.0% | -147.5% | -88.2% | · | |
| ROA | -6.5% | -36.0% | -49.8% | -50.2% | -32.2% | -23.2% | · | |
| ROE | -9.9% | -51.4% | -67.8% | -64.7% | -37.4% | -53.2% | · | |
| ROIC | -10.5% | -62.6% | -87.4% | -84.8% | -43.2% | -17.0% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.0 | 2.9 | 3.4 | 3.1 | 4.9 | 10.4 | · | |
| Quick Ratio | 2.6 | 2.5 | 2.8 | 2.5 | 4.3 | 9.7 | · | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | 0.0 | · | |
| Interest Coverage | · | · | · | · | -518.9 | -618.3 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.5 | 0.4 | 0.3 | 0.2 | 0.2 | · | |
| Inventory Turnover | 2.7 | 2.3 | 1.7 | 1.4 | 1.5 | 1.8 | · | |
| Receivables Turnover | 3.4 | 3.7 | 4.5 | 5.6 | 5.6 | 4.9 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $540M | $516M | $537M | $563M | $508M | $430M | · | |
| Net Income TTM | $-55M | $-347M | $-654M | $-971M | $-797M | $-407M | · | |
| Market Cap | · | · | · | · | · | $0 | · | |
| Enterprise Value | · | · | · | · | · | $-2.25B | · | |
| P/S | · | · | · | · | · | 0.0 | · | |
| P / Tangible Book | · | · | · | · | · | 0.0 | · | |
| P / Cash Flow | · | · | · | · | · | 0.0 | · | |
| P / FCF | · | · | · | · | · | 0.0 | · | |
| EV / EBITDA | · | · | · | · | · | 5.9 | · | |
| EV / FCF | · | · | · | · | · | 16.8 | · | |
| EV / Revenue | · | · | · | · | · | -5.2 | · |
Valuation (TTM)
| Metric | Trend | Q4 2023 |
|---|---|---|
| Revenue TTM | $537M | |
| Net Income TTM | $-654M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $540M | $516M | $537M | $563M | $508M |
| Gross Margin % | 74.7% | 70.3% | 67.6% | 67.5% | 71.7% |
| Operating Margin % | -10.2% | -69.3% | -124.5% | -174.1% | -156.9% |
| Net Income | $-55M | $-347M | $-654M | $-971M | $-797M |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | · | 0.0 | 0.0 |
| Current Ratio | 3.0 | 2.9 | 3.4 | 3.1 | 4.9 |
| Quick Ratio | 2.6 | 2.5 | 2.8 | 2.5 | 4.3 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-34M | $-98M | $-264M | $-519M | $-682M |
Institutional owners (13F) 19 filers · $15.0M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
19
Value held
$15.0M
New positions
3
Exited positions
1
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 3 (0 vs prior Q) | 1 (-1 vs prior Q) | 6 (+3 vs prior Q) | 4 (-3 vs prior Q) | +26K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Kynam Capital Management, LP | $10,517,747 | 1,238,563 | 69.95% | Shares |
| CRCM LP | $1,774,415 | 211,997 | 11.80% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $442,254 | 52,838 | 2.94% | Shares |
| MORGAN STANLEY | $364,882 | 43,594 | 2.43% | Shares |
| Redwood Wealth Management Group, LLC | $294,824 | 18,278 | 1.96% | Shares |
| Amova Asset Management Americas, Inc. | $257,707 | 29,724 | 1.71% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $248,790 | 29,724 | 1.65% | Shares |
| BANK OF AMERICA CORP /DE/ | $244,103 | 29,164 | 1.62% | Shares |
| CITADEL ADVISORS LLC | $236,587 | 27,288 | 1.57% | Shares |
| HSG Holding Ltd | $177,544 | 21,212 | 1.18% | Shares |
| UBS Group AG | $149,957 | 17,916 | 1.00% | Shares |
| Almanack Investment Partners, LLC. | $135,577 | 16,198 | 0.90% | Shares |
| XTX Topco Ltd | $118,094 | 13,621 | 0.79% | Shares |
| SHEN NEIL NANPENG | $36,338 | 885 | 0.24% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $23,436 | 2,800 | 0.16% | Shares |
| Tower Research Capital LLC (TRC) | $10,396 | 1,242 | 0.07% | Shares |
| JPMORGAN CHASE & CO | $1,341 | 166 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $1,000 | 73 | 0.01% | Shares |
| BlackRock, Inc. | $33 | 4 | 0.00% | Shares |
Company insiders 1 insider · 0 officers · 1 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Yusheng Han | Director | June 26, 2026 P | 18,404,086 | 8 | 0 | $11,648,802 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 24 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| EWG · iShares, Inc. | 0.43% | 101,977 SH | Sept. 11, 2026 | Daily |
| EZU · iShares, Inc. | 0.11% | 150,960 SH | Sept. 11, 2026 | Daily |
| EXI · iShares Trust | 0.09% | 17,108 SH | Sept. 11, 2026 | Daily |
| IVLU · iShares Trust | 0.08% | 53,611 SH | Sept. 11, 2026 | Daily |
| EFV · iShares Trust | 0.07% | 324,737 SH | Sept. 11, 2026 | Daily |
| IEV · iShares Trust | 0.06% | 14,690 SH | Sept. 11, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.06% | 24,681 SH | Oct. 2, 2026 | Daily |
| IEUR · iShares Trust | 0.05% | 70,534 SH | Sept. 11, 2026 | Daily |
| ISCF · iShares Trust | 0.04% | 3,940 SH | Sept. 11, 2026 | Daily |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.04% | 278,010 SH | Aug. 19, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.04% | 136,130 SH | Aug. 19, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.04% | 6,451 SH | Oct. 2, 2026 | Daily |
| EFA · iShares Trust | 0.04% | 421,610 SH | Sept. 11, 2026 | Daily |
| IEFA · iShares Trust | 0.03% | 883,359 SH | Sept. 11, 2026 | Daily |
| IDEV · iShares Trust | 0.03% | 134,223 SH | Sept. 11, 2026 | Daily |
| ACWX · iShares Trust | 0.02% | 38,894 SH | Sept. 11, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.02% | 1,707,509 SH | Aug. 19, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 270,271 SH | Aug. 19, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.02% | 1,128,494 SH | Aug. 19, 2026 | Daily |
| IXUS · iShares Trust | 0.02% | 160,621 SH | Sept. 11, 2026 | Daily |
| TOK · iShares Trust | 0.01% | 364 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 97,065 SH | Aug. 19, 2026 | Daily |
| URTH · iShares, Inc. | 0.01% | 10,813 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.01% | 42,185 SH | Sept. 11, 2026 | Daily |
BNR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 5 analysts
BUY
1 20.0%
Strong Buy
3 60.0%
Buy
1 20.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 20-F filed Apr 28, 2026