BLLN
BillionToOne, Inc.
Medical - Diagnostics & Research
Market Cap$4.65B
5Y Perf.-1.5%
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Side-by-side financial analysisBLLN
TMO
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Stock Comparison
BLLN vs TMO
Revenue, margins, valuation, and 5-year total return — side by side.
TMO
Thermo Fisher Scientific Inc.
Medical - Diagnostics & Research
Market Cap$174.42B
5Y Perf.-0.0%
BLLN vs TMO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot |  BLLN |  TMO |
|---|---|---|
| Industry | Medical - Diagnostics & Research | Medical - Diagnostics & Research |
| Market Cap | $4.65B | $174.42B |
| Revenue (TTM) | $355M | $45.20B |
| Net Income (TTM) | $25M | $6.86B |
| Gross Margin | 70.4% | 39.4% |
| Operating Margin | 10.2% | 17.8% |
| Forward P/E | 102.7x | 18.9x |
| Total Debt | $109M | $40.85B |
| Cash & Equiv. | $496M | $9.86B |
Quick Verdict: BLLN vs TMO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: TMO leads in 6 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. BillionToOne, Inc. is the stronger pick specifically for growth and revenue expansion. As sector peers, any of these can serve as alternatives in the same allocation.
🥇TMO emerged as the overall leader. Track its performance:
BLLN
BillionToOne, Inc.
The Growth Play
BLLN is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth 100.0%, EPS growth 106.8%
- Lower volatility, beta 1.91, Low D/E 22.7%, current ratio 11.69x
- 100.0% revenue growth vs TMO's 3.9%
Best for: growth exposure and sleep-well-at-night
TMO
Thermo Fisher Scientific Inc.
The Income Pick
TMO carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 8 yrs, beta 0.91, yield 0.4%
- 219.0% 10Y total return vs BLLN's -7.2%
- Beta 0.91, yield 0.4%, current ratio 1.89x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth |  BLLN | 100.0% revenue growth vs TMO's 3.9% |
| Value |  TMO | Lower P/E (18.9x vs 102.7x) |
| Quality / Margins | TMO | 15.2% margin vs BLLN's 7.1% |
| Stability / Safety | TMO | Beta 0.91 vs BLLN's 1.91 |
| Dividends | TMO | 0.4% yield; 8-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | TMO | +13.4% vs BLLN's -7.2% |
| Efficiency (ROA) | TMO | 6.4% ROA vs BLLN's 5.1%, ROIC 7.5% vs 13.5% |
BLLN vs TMO — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2025
BLLN vs TMO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLBLLNLAGGINGTMO
TMOThermo Fisher Scienti…
1leads
BLLNBillionToOne, Inc.
1leads
6 Total Categories
CATEGORYLEADERvs TMOMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
TMO6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
BLLN6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — BLLN and TMO each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
TMO is the larger business by revenue, generating $45.2B annually — 127.5x BLLN's $355M. TMO is the more profitable business, keeping 15.2% of every revenue dollar as net income compared to BLLN's 7.1%. On growth, BLLN holds the edge at +83.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| RevenueTrailing 12 months | $355M | $45.2B |
| EBITDAEarnings before interest/tax | $44M | $10.5B |
| Net IncomeAfter-tax profit | $25M | $6.9B |
| Free Cash FlowCash after capex | $28M | $6.7B |
| Gross MarginGross profit ÷ Revenue | +70.4% | +39.4% |
| Operating MarginEBIT ÷ Revenue | +10.2% | +17.8% |
| Net MarginNet income ÷ Revenue | +7.1% | +15.2% |
| FCF MarginFCF ÷ Revenue | +7.9% | +14.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +83.8% | +6.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +4.8% | +11.3% |
Evenly matched — BLLN and TMO each lead in 3 of 6 comparable metrics.
Valuation Metrics
TMO leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 26.5x trailing earnings, TMO trades at a 98% valuation discount to BLLN's 1587.4x P/E. On an enterprise value basis, TMO's 18.9x EV/EBITDA is more attractive than BLLN's 266.1x.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| Market CapShares × price | $4.7B | $174.4B |
| Enterprise ValueMkt cap + debt − cash | $4.3B | $205.4B |
| Trailing P/EPrice ÷ TTM EPS | 1587.44x | 26.46x |
| Forward P/EPrice ÷ next-FY EPS est. | 102.72x | 18.88x |
| PEG RatioP/E ÷ EPS growth rate | — | 12.53x |
| EV / EBITDAEnterprise value multiple | 266.12x | 18.86x |
| Price / SalesMarket cap ÷ Revenue | 15.24x | 3.91x |
| Price / BookPrice ÷ Book value/share | 9.65x | 3.31x |
| Price / FCFMarket cap ÷ FCF | 295.98x | 27.72x |
TMO leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
BLLN leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
TMO delivers a 13.2% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $8 for BLLN. BLLN carries lower financial leverage with a 0.23x debt-to-equity ratio, signaling a more conservative balance sheet compared to TMO's 0.76x. On the Piotroski fundamental quality scale (0–9), BLLN scores 7/9 vs TMO's 6/9, reflecting strong financial health.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| ROE (TTM)Return on equity | +7.6% | +13.2% |
| ROA (TTM)Return on assets | +5.1% | +6.4% |
| ROICReturn on invested capital | +13.5% | +7.5% |
| ROCEReturn on capital employed | +3.7% | +9.1% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | 0.23x | 0.76x |
| Net DebtTotal debt minus cash | -$387M | $31.0B |
| Cash & Equiv.Liquid assets | $496M | $9.9B |
| Total DebtShort + long-term debt | $109M | $40.9B |
| Interest CoverageEBIT ÷ Interest expense | 516.43x | 5.89x |
BLLN leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — BLLN and TMO each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in TMO five years ago would be worth $10,136 today (with dividends reinvested), compared to $9,282 for BLLN. Over the past 12 months, TMO leads with a +13.4% total return vs BLLN's -7.2%. The 3-year compound annual growth rate (CAGR) favors BLLN at -2.5% vs TMO's -3.3% — a key indicator of consistent wealth creation.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| YTD ReturnYear-to-date | +13.2% | -20.7% |
| 1-Year ReturnPast 12 months | -7.2% | +13.4% |
| 3-Year ReturnCumulative with dividends | -7.2% | -9.5% |
| 5-Year ReturnCumulative with dividends | -7.2% | +1.4% |
| 10-Year ReturnCumulative with dividends | -7.2% | +219.0% |
| CAGR (3Y)Annualised 3-year return | -2.5% | -3.3% |
Evenly matched — BLLN and TMO each lead in 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — BLLN and TMO each lead in 1 of 2 comparable metrics.
Risk & Volatility
TMO is the less volatile stock with a 0.91 beta — it tends to amplify market swings less than BLLN's 1.91 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.91x | 0.91x |
| 52-Week HighHighest price in past year | $138.70 | $643.99 |
| 52-Week LowLowest price in past year | $61.96 | $385.46 |
| % of 52W HighCurrent price vs 52-week peak | +72.9% | +72.9% |
| RSI (14)Momentum oscillator 0–100 | 56.5 | 50.8 |
| Avg Volume (50D)Average daily shares traded | 642K | 2.0M |
Evenly matched — BLLN and TMO each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates BLLN as "Buy" and TMO as "Buy". Consensus price targets imply 27.8% upside for TMO (target: $600) vs 23.6% for BLLN (target: $125). TMO is the only dividend payer here at 0.36% yield — a key consideration for income-focused portfolios.
| Metric | BLLNBillionToOne, Inc. | TMOThermo Fisher Sci… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $125.00 | $599.70 |
| # AnalystsCovering analysts | 4 | 42 |
| Dividend YieldAnnual dividend ÷ price | — | +0.4% |
| Dividend StreakConsecutive years of raises | — | 8 |
| Dividend / ShareAnnual DPS | — | $1.69 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.7% |
Insufficient data to determine a leader in this category.
Key Takeaway
TMO leads in 1 of 6 categories (Valuation Metrics). BLLN leads in 1 (Profitability & Efficiency). 3 tied.
Best OverallBillionToOne, Inc. (BLLN)Leads 1 of 6 categories
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BLLN vs TMO: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is BLLN or TMO a better buy right now?
For growth investors, BillionToOne, Inc.
(BLLN) is the stronger pick with 100. 0% revenue growth year-over-year, versus 3. 9% for Thermo Fisher Scientific Inc. (TMO). Thermo Fisher Scientific Inc. (TMO) offers the better valuation at 26. 5x trailing P/E (18. 9x forward), making it the more compelling value choice. Analysts rate BillionToOne, Inc. (BLLN) a "Buy" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BLLN or TMO?
On trailing P/E, Thermo Fisher Scientific Inc.
(TMO) is the cheapest at 26. 5x versus BillionToOne, Inc. at 1587. 4x. On forward P/E, Thermo Fisher Scientific Inc. is actually cheaper at 18. 9x.
03Which is the better long-term investment — BLLN or TMO?
Over the past 5 years, Thermo Fisher Scientific Inc.
(TMO) delivered a total return of +1. 4%, compared to -7. 2% for BillionToOne, Inc. (BLLN). Over 10 years, the gap is even starker: TMO returned +219. 0% versus BLLN's -7. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BLLN or TMO?
By beta (market sensitivity over 5 years), Thermo Fisher Scientific Inc.
(TMO) is the lower-risk stock at 0. 91β versus BillionToOne, Inc. 's 1. 91β — meaning BLLN is approximately 110% more volatile than TMO relative to the S&P 500. On balance sheet safety, BillionToOne, Inc. (BLLN) carries a lower debt/equity ratio of 23% versus 76% for Thermo Fisher Scientific Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — BLLN or TMO?
By revenue growth (latest reported year), BillionToOne, Inc.
(BLLN) is pulling ahead at 100. 0% versus 3. 9% for Thermo Fisher Scientific Inc. (TMO). On earnings-per-share growth, the picture is similar: BillionToOne, Inc. grew EPS 106. 8% year-over-year, compared to 7. 3% for Thermo Fisher Scientific Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — BLLN or TMO?
Thermo Fisher Scientific Inc.
(TMO) is the more profitable company, earning 15. 1% net margin versus 2. 4% for BillionToOne, Inc. — meaning it keeps 15. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TMO leads at 18. 2% versus 5. 3% for BLLN. At the gross margin level — before operating expenses — BLLN leads at 68. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is BLLN or TMO more undervalued right now?
On forward earnings alone, Thermo Fisher Scientific Inc.
(TMO) trades at 18. 9x forward P/E versus 102. 7x for BillionToOne, Inc. — 83. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TMO: 27. 8% to $599. 70.
08Which pays a better dividend — BLLN or TMO?
In this comparison, TMO (0.
4% yield) pays a dividend. BLLN does not pay a meaningful dividend and should not be held primarily for income.
09Is BLLN or TMO better for a retirement portfolio?
For long-horizon retirement investors, Thermo Fisher Scientific Inc.
(TMO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 91), +219. 0% 10Y return). BillionToOne, Inc. (BLLN) carries a higher beta of 1. 91 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TMO: +219. 0%, BLLN: -7. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between BLLN and TMO?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: BLLN is a small-cap high-growth stock; TMO is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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