Burning Rock Biotech Limited (BNR) AI Stock Analysis
BNR AI stock analysis summary
AI ResearchBurning Rock Biotech Limited develops next-generation sequencing-based cancer therapy selection tests in China. In FY2025, revenue grew 4.6% to $539.6M while net loss narrowed significantly to -$55.3M from -$346.6M in FY2024. However, quarterly revenue declined 9.3% year-over-year in the latest quarter ending June 30, 2026, with trailing twelve-month net profit margin at -13.6%.
- Market cap
- $136.0M
- Revenue (TTM)
- $500.6M
- P/E
- —
- 1Y return
- 60.6% S&P 500 16.8%
- Avg. target
- $4.03 -68.8% vs last close
Bull case
- Gross margin expanded to 74.7% in FY2025, supporting a reduction in annual net loss to -$55.3M from -$346.6M in FY2024.
- The balance sheet holds $419.3M in cash and short-term investments against $45.1M in total debt, creating a net cash cushion of $374.1M.
- The stock trades at a price-to-sales ratio of 0.3x, below the 4.1x median of its US-listed Healthcare peers.
Bear case
- The mean analyst price target of $4.03 represents 68.8% downside compared to the last closing price of $12.90.
- Quarterly revenue declined 9.3% year-over-year in the latest quarter ending June 30, 2026, leaving trailing twelve-month profit margin at -13.6%.
- Burning Rock Biotech has generated persistent negative free cash flow, including -$33.7M in FY2025 and -$98.2M in FY2024.
What Burning Rock Biotech does
Headquartered in Guangzhou, China, Burning Rock Biotech Limited develops and provides advanced cancer therapy selection tests across the People's Republic of China. Founded in 2014, the company operates across three segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services. Its next-generation sequencing tests evaluate tissue and liquid biopsy samples across multiple cancers, including lung, gastrointestinal, prostate, breast, and ovarian. Key products include OncoCompass IO, OncoScreen IO, OncoCompass Target for non-small cell lung cancer, and ColonCore. The company also maintains strategic partnerships with Myriad Genetics, Inc. and Oncocyte Corporation.
Growth and profitability
Burning Rock Biotech generated revenue of $507.9M in FY2021 and peaked at $563.2M in FY2022 before falling to $537.4M in FY2023 and $515.8M in FY2024. Revenue rebounded by 4.6% to $539.6M in FY2025, marking a 5-year revenue CAGR of 4.6% from FY2020. Gross margin expanded from 71.7% in FY2021 to 74.7% in FY2025, while operating margin improved from -156.9% to -10.2%. Annual net losses narrowed from -$796.7M in FY2021 and -$971.2M in FY2022 to -$55.3M in FY2025 as R&D expense decreased from $367.9M to $166.5M. For the latest quarter ended June 30, 2026, quarterly revenue fell 9.3% year-over-year, bringing trailing twelve-month revenue to $500.6M with an operating margin of -13.4%.
Balance sheet and cash flow
As of June 30, 2026, Burning Rock Biotech held $419.3M in cash and short-term investments alongside total debt of $45.1M, yielding net cash of $374.1M. Shareholders' equity was $497.3M against total assets of $750.9M. The company maintained a current ratio of 3.03 and a debt-to-equity ratio of 0.09. Operating cash flow improved from -$92.3M in FY2024 to -$28.4M in FY2025, while free cash flow reached -$33.7M alongside $5.2M in capital expenditures. Share count expanded 4.0% over five years.
Valuation and performance
Burning Rock Biotech closed at $12.90 on October 16, 2026, representing a market capitalization of $136.0M and an enterprise value of $102.1M. The stock trades at a price-to-sales multiple of 0.3x and an enterprise value-to-revenue multiple of 1.3x, compared to a price-to-sales multiple of 4.1x for the median of its US-listed Healthcare peers. Its price-to-book ratio stands at 2.1x. Over the past year, BNR gained 60.6% versus a 16.8% return for the S&P 500 (SPY). Over five years, the stock dropped 91.0% while SPY rose 83.0%.
What analysts expect
Wall Street analysts have set a mean price target of $4.03 for Burning Rock Biotech, implying a downside of 68.8% from its last close of $12.90 on October 16, 2026. Over the last four quarters, the company beat earnings per share estimates once. Burning Rock Biotech is scheduled to report its next earnings on November 19, 2026.
Key risks and what to watch
- BNR has experienced a five-year share price drop of 91.0% and sits 23.8% below its 200-day moving average.
- The company missed earnings estimates in three of the last four quarters, achieving an EPS beat in only 1 quarter.
- Continued cash outflows remain a factor, as operating cash flow was -$28.4M in FY2025.
- Top-line volatility persists, reflected in a 9.3% year-over-year quarterly revenue contraction as of June 30, 2026.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this BNR AI stock analysis
This page is an AI-written research summary of Burning Rock Biotech Limited (BNR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: BNR income statement, BNR balance sheet, BNR key metrics, BNR chart. See the BNR stock overview for the latest quote and news.
BNR AI stock analysis FAQ
What does Burning Rock Biotech Limited do?
Burning Rock Biotech develops next-generation sequencing cancer therapy selection tests using tissue and liquid biopsies across China. It operates through Central Laboratory, In-Hospital, and Pharma Research and Development Services segments.
What is Burning Rock Biotech's cash position?
As of June 30, 2026, the company held $419.3M in cash and short-term investments and $45.1M in total debt, resulting in net cash of $374.1M. Its current ratio stood at 3.03.
Does Burning Rock Biotech pay a dividend?
The company does not pay a dividend. Cash flow has been prioritized for operations and capital expenditures, which totaled $5.2M in FY2025.
How do analysts view BNR stock?
Analysts have established a mean price target of $4.03, which is 68.8% below the closing price of $12.90 on October 16, 2026. The company is set to announce earnings next on November 19, 2026.