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Burning Rock Biotech Limited (BNR) 10-Year Financial Performance & Capital Metrics

BNR • • Industrial / General
HealthcareDiagnostics & ResearchCancer Diagnostics & Oncology TestingCancer Genomic Profiling
AboutBurning Rock Biotech Limited primarily develops and provides cancer therapy selection tests in the People's Republic of China. It operates in three segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services. The company primarily offers next-generation sequencing-based cancer therapy selection and prognosis prediction tests applicable to a range of cancer types, including lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, lymphomas, thyroid cancer, colorectal cancer, ovarian cancer, pancreatic cancer, and bladder cancer using tissue and liquid biopsy samples. Its principal products include OncoCompass IO, a corresponding test for liquid biopsy samples; OncoScreen IO, a pan-cancer test for tissue samples; OncoCompass Target, a ctDNA liquid biopsy-based test for NSCLC; ColonCore for assessing microsatellite loci related to MSI status and detecting mutations in genes associated with gastrointestinal cancers; and OncoScreen ParpMatch and OncoCompass ParpMatch to target critical genes associated with homologous recombination deficiency. In addition, the company has development and commercialization agreement with Myriad Genetics, Inc. to in-license Myriad myChoice tumor testing in China; and licensing agreement with Oncocyte Corporation to in-license DetermaRx, a risk stratification test for early stage lung cancer patients in China. It has collaborations on clinical trials and research studies with AstraZeneca, Bayer, Johnson & Johnson, CStone, BeiGene, Abbisko Therapeutics, and IMPACT Therapeutics and Merck KGaA. The company was incorporated in 2014 and is headquartered in Guangzhou, China.Show more
  • Revenue $516M -4.0%
  • EBITDA -$305M +43.0%
  • Net Income -$347M +47.0%
  • EPS (Diluted) -33.67 +47.3%
  • Gross Margin 70.26% +4.0%
  • EBITDA Margin -59.2% +40.6%
  • Operating Margin -69.32% +44.3%
  • Net Margin -67.2% +44.8%
  • ROE -51.38% +24.3%
  • ROIC -192.28% +10.1%
  • Debt/Equity 0.09 +461.7%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 98 (top 2%)
  • ✓Trading near 52-week high
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y6.21%
3Y0.52%
TTM5.56%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM71.64%

EPS CAGR

10Y-
5Y-
3Y-
TTM72.22%

ROCE

10Y Avg-50.86%
5Y Avg-49.36%
3Y Avg-61.14%
Latest-51.24%

Peer Comparison

Cancer Genomic Profiling
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CSTLCastle Biosciences, Inc.1.19B40.7565.7351.09%-3.56%-2.62%3.07%0.06
MYNZMainz Biomed B.V.10.78M1.19-0.05-0.17%-24.92%-6.63%0.54
BNRBurning Rock Biotech Limited301.02M33.32-0.99-4.02%-22.48%-22.06%0.09
MDXHMDxHealth S.A.190.56M3.71-3.2028.29%-40.43%-345.31%4.05
PSNLPersonalis, Inc.853.41M9.61-7.0115.15%-106.92%-43.1%0.22
EXASExact Sciences Corporation19.44B102.34-18.3110.37%-32.01%-39.44%0.38%1.15

Profit & Loss

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+111.17M208.87M381.68M429.9M507.86M563.24M537.43M515.82M
Revenue Growth %-0.88%0.83%0.13%0.18%0.11%-0.05%-0.04%
Cost of Goods Sold+39.47M73.81M108.34M115.98M143.72M183.2M174.21M153.42M
COGS % of Revenue0.36%0.35%0.28%0.27%0.28%0.33%0.32%0.3%
Gross Profit+71.7M135.06M273.33M313.92M364.15M380.04M363.23M362.4M
Gross Margin %0.64%0.65%0.72%0.73%0.72%0.67%0.68%0.7%
Gross Profit Growth %-0.88%1.02%0.15%0.16%0.04%-0.04%-0%
Operating Expenses+192.56M296.45M442.43M726.33M1.16B1.36B1.03B719.96M
OpEx % of Revenue1.73%1.42%1.16%1.69%2.29%2.42%1.92%1.4%
Selling, General & Admin143.54M191.16M285.49M462.39M793.35M938.58M685.53M452.54M
SG&A % of Revenue1.29%0.92%0.75%1.08%1.56%1.67%1.28%0.88%
Research & Development49.02M105.3M156.94M263.94M367.86M421.87M347.02M232.29M
R&D % of Revenue0.44%0.5%0.41%0.61%0.72%0.75%0.65%0.45%
Other Operating Expenses-32K-488K0000035.13M
Operating Income+-120.87M-161.4M-169.09M-412.4M-797.06M-980.41M-669.32M-357.56M
Operating Margin %-1.09%-0.77%-0.44%-0.96%-1.57%-1.74%-1.25%-0.69%
Operating Income Growth %--0.34%-0.05%-1.44%-0.93%-0.23%0.32%0.47%
EBITDA+-99.55M-136.72M-137.73M-379.1M-749.3M-856.31M-535.92M-305.36M
EBITDA Margin %-0.9%-0.65%-0.36%-0.88%-1.48%-1.52%-1%-0.59%
EBITDA Growth %--0.37%-0.01%-1.75%-0.98%-0.14%0.37%0.43%
D&A (Non-Cash Add-back)21.31M24.68M31.36M33.31M47.77M124.1M133.4M52.2M
EBIT-120.87M-159.55M-160.17M-406.57M-794.26M-980.41M-651.3M-322.43M
Net Interest Income+-9.86M-16.61M2.17M5.4M1.92M9.46M17.96M12.21M
Interest Income01.34M11.16M6.07M3.46M9.46M17.96M12.21M
Interest Expense9.86M17.95M8.99M667K1.54M000
Other Income/Expense-10.41M-16.1M-64K5.17M1.27M11.16M18.02M16.82M
Pretax Income+-131.28M-177.5M-169.16M-407.24M-795.8M-969.25M-651.3M-340.74M
Pretax Margin %-1.18%-0.85%-0.44%-0.95%-1.57%-1.72%-1.21%-0.66%
Income Tax+0000899K1.99M2.39M5.88M
Effective Tax Rate %1%1%1%1%1%1%1%1.02%
Net Income+-131.28M-177.5M-168.34M-407.24M-796.7M-971.23M-653.69M-346.63M
Net Margin %-1.18%-0.85%-0.44%-0.95%-1.57%-1.72%-1.22%-0.67%
Net Income Growth %--0.35%0.05%-1.42%-0.96%-0.22%0.33%0.47%
Net Income (Continuing)-131.28M-177.5M-169.16M-407.24M-796.7M-971.23M-653.69M-346.63M
Discontinued Operations00000000
Minority Interest00000000
EPS (Diluted)+-102.02-103.82-142.30-68.76-76.45-93.47-63.84-33.67
EPS Growth %--0.02%-0.37%0.52%-0.11%-0.22%0.32%0.47%
EPS (Basic)-102.02-103.82-142.30-68.76-76.45-93.47-63.84-33.67
Diluted Shares Outstanding1.81M2.24M2.35M6.86M10.42M10.39M10.24M10.29M
Basic Shares Outstanding1.29M1.71M1.19M5.92M10.42M10.39M10.24M10.29M
Dividend Payout Ratio--------

Balance Sheet

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+298.93M292.99M706.79M2.52B1.82B1.26B884.1M776.62M
Cash & Short-Term Investments190M130.13M408.22M2.26B1.5B905.45M615.1M519.85M
Cash Only54.79M93.34M94.23M1.9B1.43B905.45M615.1M519.85M
Short-Term Investments135.21M36.79M313.99M362.13M63.76M000
Accounts Receivable41.23M35.52M89.73M110.75M161.43M170.23M149.61M173.45M
Days Sales Outstanding135.3862.0785.8194.03116.02110.32101.61122.73
Inventory16.8M49.05M58.12M68.02M123.21M130.32M69.02M53.76M
Days Inventory Outstanding155.4242.59195.79214.07312.92259.65144.61127.91
Other Current Assets50.9M3.45M133.84M67.41M8.66M30.14M21.12M11.57M
Total Non-Current Assets+101.4M79.69M140.77M139.38M457.64M328.7M155.91M108.69M
Property, Plant & Equipment60.69M69.58M89.31M111.48M406.44M300.03M144.2M100.34M
Fixed Asset Turnover1.83x3.00x4.27x3.86x1.25x1.88x3.73x5.14x
Goodwill000001.82M00
Intangible Assets516K482K343K3.46M5.15M161K964K421K
Long-Term Investments37.33M1.99M40.16M1.42M910K690K337K0
Other Non-Current Assets2.86M7.63M10.95M23.02M45.14M26M10.41M7.93M
Total Assets+400.33M372.67M847.56M2.66B2.28B1.59B1.04B885.3M
Asset Turnover0.28x0.56x0.45x0.16x0.22x0.35x0.52x0.58x
Asset Growth %--0.07%1.27%2.14%-0.14%-0.3%-0.34%-0.15%
Total Current Liabilities+78.06M284.7M164.44M241.53M372.18M411.45M263.36M266.3M
Accounts Payable016.27M12.35M35.48M63.08M50.95M18.06M33.75M
Days Payables Outstanding-80.4441.6111.66160.21101.5137.8480.29
Short-Term Debt14.88M176.27M39.5M42.06M2.37M000
Deferred Revenue (Current)01000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities48.92M3.13M3.08M4.76M13.17M58.58M18.95M18.1M
Current Ratio3.83x1.03x4.30x10.45x4.89x3.06x3.36x2.92x
Quick Ratio3.61x0.86x3.94x10.17x4.56x2.74x3.09x2.71x
Cash Conversion Cycle-224.22240196.43268.73268.46208.37170.35
Total Non-Current Liabilities+153.79M691.44M1.57B491K61.09M17.68M8.23M38.18M
Long-Term Debt153.79M87.64M18.27M00000
Capital Lease Obligations05.69M4.82M049.32M13.55M3.69M27.75M
Deferred Tax Liabilities00000000
Other Non-Current Liabilities0596.12M1.55B228K11.78M4.12M4.54M10.43M
Total Liabilities231.85M976.14M1.74B242.02M433.28M429.13M271.59M304.48M
Total Debt+168.67M272.27M67.47M46.88M86.69M50.79M12.32M52.32M
Net Debt113.88M178.93M-26.76M-1.85B-1.34B-854.66M-602.77M-467.53M
Debt / Equity1.00x--0.02x0.05x0.04x0.02x0.09x
Debt / EBITDA--------
Net Debt / EBITDA--------
Interest Coverage-12.26x-8.99x-18.81x-618.30x-518.92x---
Total Equity+168.49M-603.46M-891.49M2.42B1.85B1.16B768.41M580.83M
Equity Growth %--4.58%-0.48%3.72%-0.24%-0.37%-0.34%-0.24%
Book Value per Share93.14-269.66-379.62352.74177.08111.4875.0456.43
Total Shareholders' Equity168.49M-603.46M-891.49M2.42B1.85B1.16B768.41M580.83M
Common Stock28K29K31K137K137K138K137K145K
Retained Earnings-379.52M-612M-946.46M-1.42B-2.23B-3.2B-3.85B-4.2B
Treasury Stock00000-58.92M-65.9M-63.26M
Accumulated OCI-10.88M-14.8M9.3M-167.59M-207.07M-165.72M-161.53M-158.05M
Minority Interest00000000

Cash Flow

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-133.7M-148.78M-228.04M-73.54M-477.89M-456.81M-255.78M-92.26M
Operating CF Margin %-1.2%-0.71%-0.6%-0.17%-0.94%-0.81%-0.48%-0.18%
Operating CF Growth %--0.11%-0.53%0.68%-5.5%0.04%0.44%0.64%
Net Income-131.28M-177.5M-169.16M-407.24M-796.7M-971.23M-653.69M-346.63M
Depreciation & Amortization21.31M24.68M31.36M33.31M47.77M124.1M133.4M52.2M
Stock-Based Compensation4.05M5.09M22.79M173.22M282.43M326.78M260.72M155.62M
Deferred Taxes1.16M1.37M15.62M015.39M000
Other Non-Cash Items5.84M3.74M1.81M15.07M35.61M74.7M55.94M83.08M
Working Capital Changes-34.79M-6.16M-130.46M112.1M-62.4M-11.16M-52.16M-36.53M
Change in Receivables-31.16M4.16M-65.95M-13.04M-18.93M-42.16M-12.39M-26.8M
Change in Inventory-489K-32.25M-8.12M-9.44M-67M-21.65M57.28M2.51M
Change in Payables9.57M2.2M-3.32M25.84M-5.1M16.63M-31.12M18.89M
Cash from Investing+-191.08M106.09M-346.66M-109.31M81.7M-7.46M-9.3M-4.41M
Capital Expenditures-23.01M-24.71M-45.73M-79.54M-213.45M-62.03M-8.1M-5.42M
CapEx % of Revenue0.21%0.12%0.12%0.19%0.42%0.11%0.02%0.01%
Acquisitions--------
Investments--------
Other Investing-557K122K-303K-3.32M-1.96M-11.03M-1.2M1.01M
Cash from Financing+354.17M83.39M571.74M2.17B-52.9M-86.24M-48.83M-72K
Debt Issued (Net)--------
Equity Issued (Net)--------
Dividends Paid00000000
Share Repurchases--------
Other Financing00067.96M-3.82M-12.03M-41.85M0
Net Change in Cash--------
Free Cash Flow+-156.72M-173.5M-273.77M-153.08M-691.33M-518.84M-265.17M-98.24M
FCF Margin %-1.41%-0.83%-0.72%-0.36%-1.36%-0.92%-0.49%-0.19%
FCF Growth %--0.11%-0.58%0.44%-3.52%0.25%0.49%0.63%
FCF per Share-86.64-77.53-116.58-22.30-66.34-49.93-25.90-9.54
FCF Conversion (FCF/Net Income)1.02x0.84x1.35x0.18x0.60x0.47x0.39x0.27x
Interest Paid00001.52M877K00
Taxes Paid00001.1M98K00

Key Ratios

Metric20172018201920202021202220232024
Return on Equity (ROE)-77.91%---53.25%-37.35%-64.67%-67.85%-51.38%
Return on Invested Capital (ROIC)-----111.4%-182.83%-213.92%-192.28%
Gross Margin64.49%64.66%71.61%73.02%71.7%67.47%67.59%70.26%
Net Margin-118.09%-84.98%-44.1%-94.73%-156.87%-172.44%-121.63%-67.2%
Debt / Equity1.00x--0.02x0.05x0.04x0.02x0.09x
Interest Coverage-12.26x-8.99x-18.81x-618.30x-518.92x---
FCF Conversion1.02x0.84x1.35x0.18x0.60x0.47x0.39x0.27x
Revenue Growth-87.89%82.74%12.64%18.13%10.9%-4.58%-4.02%

Revenue by Segment

20202021202220232024
Service391.32M435.87M511.45M345.03M290.74M
Service Growth-11.38%17.34%-32.54%-15.74%
Product154.57M215.71M234.99M192.41M225.08M
Product Growth-39.56%8.94%-18.12%16.98%

Revenue by Geography

20202021202220232024
CHINA--553.3M534.93M510.24M
CHINA Growth----3.32%-4.62%
UNITED STATES---2.51M5.58M
UNITED STATES Growth----122.62%

Frequently Asked Questions

Growth & Financials

Burning Rock Biotech Limited (BNR) reported $539.3M in revenue for fiscal year 2024. This represents a 385% increase from $111.2M in 2017.

Burning Rock Biotech Limited (BNR) saw revenue decline by 4.0% over the past year.

Burning Rock Biotech Limited (BNR) reported a net loss of $121.3M for fiscal year 2024.

Dividend & Returns

Burning Rock Biotech Limited (BNR) has a return on equity (ROE) of -51.4%. Negative ROE indicates the company is unprofitable.

Burning Rock Biotech Limited (BNR) had negative free cash flow of $37.8M in fiscal year 2024, likely due to heavy capital investments.

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