Last 6 quarters of trend data
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
BillionToOne, Inc.'s quarterly P/E stands at 58.0x.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 |
|---|---|---|---|---|---|---|---|
| P/E Ratio → | 1587.44 | 58.04 | 212.24 | — | — | — | — |
| — | — | — | — | — | — | — | |
| P/S Ratio | 15.24 | 9.66 | 9.76 | — | — | — | — |
| — | — | — | — | — | — | — | |
| P/B Ratio | 9.65 | 8.28 | 7.81 | — | — | — | — |
| — | — | — | — | — | — | — | |
| P/FCF | 295.98 | 95.49 | 101.26 | — | — | — | — |
| — | — | — | — | — | — | — | |
| EV / EBITDA | 266.12 | 45.53 | 81.34 | — | — | — | — |
| — | — | — | — | — | — | — | |
| EV / EBIT | 266.12 | 53.17 | 81.34 | — | — | — | — |
| — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
BillionToOne, Inc.'s operating margin was 16.5% in Q1 2026, up 5.7 pp QoQ and up 20.4 pp YoY. The trailing four-quarter average of 9.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 13.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3% | 73.0% | 71.4% | 69.9% | 65.3% | 64.4% | 57.1% |
| — | +13.3% | +25.2% | — | — | — | — | |
| Operating Margin | 5.3% | 16.5% | 10.8% | 11.5% | -2.4% | -3.9% | -25.9% |
| — | +519.1% | +141.5% | — | — | — | — | |
| Net Margin | 2.4% | 16.6% | 6.2% | 1.8% | -0.4% | -6.8% | -25.5% |
| — | +345.1% | +124.4% | — | — | — | — |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 |
|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 3.6% | 1.8% | 0.9% | -0.1% | -2.4% | -6.8% |
| — | +254.1% | +126.5% | — | — | — | — | |
| ROA | 1.6% | 2.7% | 1.2% | 0.5% | -0.1% | -1.3% | -3.8% |
| — | +307.7% | +132.8% | — | — | — | — | |
| ROIC | 13.5% | 13.0% | 8.3% | 8.0% | -1.4% | -2.0% | -10.2% |
| — | +748.2% | +181.4% | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
BillionToOne, Inc.'s Debt/EBITDA ratio is 6.9x, down from 10.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 84.4% YoY to 10.92x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.23 | 0.29 | 0.23 | 0.60 | 0.63 | 0.63 | 0.65 |
| — | -54.7% | -65.2% | — | — | — | — | |
| Debt / EBITDA | 6.80 | 6.92 | 10.54 | 8.59 | 889.37 | — | — |
| — | — | — | — | — | — | — | |
| Current Ratio | 11.69 | 10.92 | 11.69 | 6.17 | 5.92 | 5.92 | 8.03 |
| — | +84.4% | +45.6% | — | — | — | — | |
| Quick Ratio | 11.32 | 10.58 | 11.32 | 5.75 | 5.58 | 5.58 | 7.72 |
| — | +89.7% | +46.7% | — | — | — | — | |
| Interest Coverage | 168.66 | 1783.40 | 3444.00 | 280.10 | -6.25 | -96.20 | -242.68 |
| — | — | — | — | — | — | — |
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BillionToOne, Inc.'s current P/E is 1587.4x. The average P/E over the last 2 quarters is 135.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
BillionToOne, Inc.'s current operating margin is 5.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking BillionToOne, Inc.'s business trajectory between earnings reports.