Burning Rock Biotech Limited (BNR) Balance Sheet

NASDAQ: BNRAssets, liabilities, debt and equity over 9 years.

BNR balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥820.9M assets = CN¥285.3M liabilities + CN¥535.6M equity

Both columns are drawn to the same scale: what BNR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

BNR financial health

Current ratio2.99

Comfortable · current assets cover current liabilities 2.99×

Debt / equity0.08

Low leverage · CN¥0.08 of debt for each $1 of equity

Equity / assets65.2%

Equity-funded · of assets funded by shareholders

Cash / debt1,115.7%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles0.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

BNR balance sheet trends, 2017–2025

Burning Rock Biotech Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥400.3M2017	CN¥820.9M2025	+9.4%/yr
Total liabilities	CN¥231.8M2017	CN¥285.3M2025	+2.6%/yr
Shareholders’ equity	CN¥168.5M2017	CN¥535.6M2025	+15.6%/yr
Cash & short-term investments	CN¥190.0M2017	CN¥481.4M2025	+12.3%/yr
Total debt	CN¥168.7M2017	CN¥43.1M2025	−15.7%/yr
Net cash (debt)	CN¥21.3M2017	CN¥438.2M2025	+CN¥416.9M
Working capital	CN¥220.9M2017	CN¥491.9M2025	+CN¥271.0M
Current ratio	3.832017	2.992025	−0.84
Debt / equity	1.002017	0.082025	−0.92
Shares outstanding	1.8M2017	1.1M2025	−6.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

BNR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

BNR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

BNR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

BNR balance sheet in Chinese yuan

Burning Rock Biotech Limited annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash & short-term investments	CN¥481.4M	CN¥519.8M	CN¥615.1M	CN¥905.5M	CN¥1.50B	CN¥2.26B	CN¥408.2M	CN¥130.1M	CN¥190.0M
Cash & equivalents	CN¥481.4M	CN¥519.8M	CN¥615.1M	CN¥905.5M	CN¥1.43B	CN¥1.90B	CN¥94.2M	CN¥93.3M	CN¥54.8M
Short-term investments	—	CN¥6.1M	CN¥13.4M	CN¥2.1M	CN¥63.8M	CN¥362.1M	CN¥314.0M	CN¥36.8M	CN¥135.2M
Receivables	CN¥182.0M	CN¥173.4M	CN¥149.6M	CN¥170.2M	CN¥161.4M	CN¥110.8M	CN¥89.7M	CN¥35.5M	CN¥41.2M
Inventory	CN¥57.0M	CN¥53.8M	CN¥69.0M	CN¥130.3M	CN¥123.2M	CN¥68.0M	CN¥58.1M	CN¥49.1M	CN¥16.8M
Other current assets	CN¥18.6M	CN¥29.6M	CN¥50.4M	CN¥52.8M	CN¥41.2M	CN¥87.4M	CN¥150.7M	CN¥78.3M	CN¥50.9M
Total current assets	CN¥739.1M	CN¥776.6M	CN¥884.1M	CN¥1.26B	CN¥1.82B	CN¥2.52B	CN¥706.8M	CN¥293.0M	CN¥298.9M
Property, plant & equipment (net)	CN¥73.9M	CN¥100.3M	CN¥144.2M	CN¥300.0M	CN¥406.4M	CN¥111.5M	CN¥89.3M	CN¥69.6M	CN¥60.7M
Goodwill & intangible assets	CN¥568,179	CN¥421,000	CN¥964,000	CN¥2.0M	CN¥5.2M	CN¥3.5M	CN¥343,000	CN¥482,000	CN¥516,000
Long-term investments	CN¥0	CN¥0	CN¥337,000	CN¥690,000	CN¥910,000	CN¥1.4M	CN¥40.2M	CN¥2.0M	CN¥0
Other non-current assets	CN¥7.4M	CN¥7.9M	CN¥10.4M	CN¥26.0M	CN¥45.1M	CN¥23.0M	CN¥11.0M	CN¥7.6M	CN¥40.2M
Total assets	CN¥820.9M	CN¥885.3M	CN¥1.04B	CN¥1.59B	CN¥2.28B	CN¥2.66B	CN¥847.6M	CN¥372.7M	CN¥400.3M
Liabilities
Accounts payable	CN¥40.8M	CN¥33.7M	CN¥18.1M	CN¥50.9M	CN¥63.1M	CN¥35.5M	CN¥12.3M	CN¥16.3M	CN¥14.3M
Short-term debt	CN¥17.0M	CN¥24.6M	CN¥8.6M	CN¥37.2M	CN¥37.4M	CN¥46.9M	CN¥44.4M	CN¥178.9M	CN¥14.9M
Deferred revenue	CN¥107.9M	CN¥118.5M	CN¥131.7M	CN¥149.4M	CN¥143.8M	CN¥75.5M	CN¥53.6M	CN¥58.0M	—
Total current liabilities	CN¥247.1M	CN¥266.3M	CN¥263.4M	CN¥411.5M	CN¥372.2M	CN¥241.5M	CN¥164.4M	CN¥284.7M	CN¥78.1M
Long-term debt	CN¥1.7M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥23.1M	CN¥93.3M	CN¥0
Lease obligations	CN¥41.2M	CN¥52.3M	CN¥12.3M	CN¥50.8M	CN¥84.3M	CN¥4.8M	CN¥9.7M	CN¥8.4M	—
Other long-term liabilities	CN¥36.5M	CN¥38.2M	CN¥8.2M	CN¥17.7M	CN¥61.1M	CN¥491,000	CN¥1.55B	CN¥598.1M	CN¥153.8M
Total liabilities	CN¥285.3M	CN¥304.5M	CN¥271.6M	CN¥429.1M	CN¥433.3M	CN¥242.0M	CN¥1.74B	CN¥976.1M	CN¥231.8M
Shareholders' equity
Common stock & paid-in capital	CN¥141,089	CN¥145,000	CN¥137,000	CN¥138,000	CN¥137,000	CN¥137,000	CN¥31,000	CN¥29,000	CN¥28,000
Retained earnings (deficit)	−CN¥4.26B	−CN¥4.20B	−CN¥3.85B	−CN¥3.20B	−CN¥2.23B	−CN¥1.42B	−CN¥946.5M	−CN¥612.0M	−CN¥379.5M
Accumulated other comprehensive income	−CN¥162.2M	−CN¥158.0M	−CN¥161.5M	−CN¥165.7M	−CN¥207.1M	−CN¥167.6M	CN¥9.3M	−CN¥14.8M	−CN¥10.9M
Total shareholders' equity	CN¥535.6M	CN¥580.8M	CN¥768.4M	CN¥1.16B	CN¥1.85B	CN¥2.42B	−CN¥891.5M	−CN¥603.5M	CN¥168.5M
Key figures
Total debt	CN¥43.1M	CN¥52.3M	CN¥12.3M	CN¥50.8M	CN¥86.7M	CN¥46.9M	CN¥67.5M	CN¥272.3M	CN¥168.7M
Net cash (debt)	CN¥438.2M	CN¥467.5M	CN¥602.8M	CN¥854.7M	CN¥1.41B	CN¥2.21B	CN¥340.7M	−CN¥142.1M	CN¥21.3M
Working capital	CN¥491.9M	CN¥510.3M	CN¥620.7M	CN¥847.3M	CN¥1.45B	CN¥2.28B	CN¥542.3M	CN¥8.3M	CN¥220.9M
Tangible book value	CN¥535.0M	CN¥580.4M	CN¥767.4M	CN¥1.16B	CN¥1.84B	CN¥2.42B	−CN¥891.8M	−CN¥603.9M	CN¥168.0M
Shares outstanding	1.1M	10.3M	10.2M	10.4M	10.4M	6.9M	2.3M	2.2M	1.8M
Current ratio	2.99	2.92	3.36	3.06	4.89	10.45	4.30	1.03	3.83
Quick ratio	2.68	2.60	2.90	2.61	4.45	9.80	3.03	0.58	2.96
Debt / equity	0.08	0.09	0.02	0.04	0.05	0.02	—	—	1.00
Equity / assets	65.2%	65.6%	73.9%	73.0%	81.0%	90.9%	−105.2%	−161.9%	42.1%

Burning Rock Biotech Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥419.3M	CN¥446.0M	CN¥481.4M	CN¥464.0M	CN¥452.7M	CN¥495.1M	CN¥519.8M	CN¥498.0M	CN¥532.5M	CN¥572.6M	CN¥615.1M	CN¥636.3M
Cash & equivalents	CN¥419.3M	CN¥446.0M	CN¥481.4M	CN¥464.0M	CN¥452.7M	CN¥495.1M	CN¥519.8M	CN¥498.0M	CN¥532.5M	CN¥572.6M	CN¥615.1M	CN¥636.3M
Short-term investments	—	—	—	—	—	CN¥6.1M	—	—	—	CN¥13.4M	CN¥13.4M	CN¥13.4M
Receivables	CN¥182.6M	CN¥177.2M	CN¥182.0M	CN¥196.9M	CN¥204.7M	CN¥176.6M	CN¥152.0M	CN¥184.2M	CN¥173.7M	CN¥158.4M	CN¥149.6M	CN¥199.5M
Inventory	CN¥34.1M	CN¥54.3M	CN¥57.0M	CN¥54.5M	CN¥57.8M	CN¥65.4M	CN¥53.8M	CN¥66.4M	CN¥65.8M	CN¥63.1M	CN¥69.0M	CN¥86.5M
Other current assets	CN¥22.6M	CN¥23.5M	CN¥18.6M	CN¥24.0M	CN¥25.6M	CN¥24.3M	CN¥51.0M	CN¥36.2M	CN¥34.3M	CN¥46.7M	CN¥50.4M	CN¥44.7M
Total current assets	CN¥658.7M	CN¥701.0M	CN¥739.1M	CN¥739.3M	CN¥740.8M	CN¥761.5M	CN¥776.6M	CN¥784.9M	CN¥806.3M	CN¥840.8M	CN¥884.1M	CN¥967.0M
Property, plant & equipment (net)	CN¥78.1M	CN¥78.9M	CN¥73.9M	CN¥66.0M	CN¥77.1M	CN¥85.0M	CN¥100.3M	CN¥189.4M	CN¥206.1M	CN¥134.2M	CN¥144.2M	CN¥182.1M
Goodwill & intangible assets	CN¥233,079	CN¥541,209	CN¥568,179	CN¥316,000	CN¥352,000	CN¥386,000	CN¥421,000	CN¥525,000	CN¥724,000	CN¥747,000	CN¥964,000	CN¥1.3M
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥243,000	CN¥247,000	CN¥249,000	CN¥337,000	CN¥387,000
Other non-current assets	CN¥13.9M	CN¥7.3M	CN¥7.4M	CN¥6.5M	CN¥6.6M	CN¥7.8M	CN¥7.9M	CN¥9.7M	CN¥10.0M	CN¥8.9M	CN¥10.4M	CN¥15.9M
Total assets	CN¥750.9M	CN¥787.8M	CN¥820.9M	CN¥812.2M	CN¥824.9M	CN¥854.7M	CN¥885.3M	CN¥984.8M	CN¥1.02B	CN¥984.9M	CN¥1.04B	CN¥1.17B
Liabilities
Accounts payable	CN¥18.0M	CN¥18.0M	CN¥40.8M	CN¥34.3M	CN¥32.2M	CN¥35.9M	CN¥33.7M	CN¥25.2M	CN¥25.9M	CN¥24.6M	CN¥18.1M	CN¥24.1M
Short-term debt	CN¥21.4M	CN¥21.3M	CN¥17.0M	CN¥16.8M	CN¥19.5M	CN¥22.5M	—	CN¥27.8M	CN¥26.9M	CN¥11.0M	CN¥8.6M	CN¥14.0M
Deferred revenue	CN¥109.2M	CN¥115.1M	CN¥107.9M	—	CN¥103.4M	CN¥117.8M	—	CN¥111.3M	CN¥120.5M	CN¥128.7M	CN¥131.7M	CN¥145.5M
Total current liabilities	CN¥217.6M	CN¥229.8M	CN¥247.1M	CN¥235.1M	CN¥230.1M	CN¥252.5M	CN¥266.3M	CN¥258.5M	CN¥259.6M	CN¥255.4M	CN¥263.4M	CN¥295.2M
Long-term debt	CN¥0	CN¥1.7M	CN¥1.7M	CN¥1.8M	CN¥1.8M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	—	CN¥49.0M	CN¥41.2M	CN¥31.2M	CN¥37.1M	CN¥42.3M	CN¥52.3M	CN¥100.9M	CN¥107.9M	CN¥19.0M	CN¥12.3M	CN¥19.1M
Other long-term liabilities	CN¥36.0M	CN¥39.8M	CN¥36.5M	CN¥25.7M	CN¥28.8M	CN¥30.5M	CN¥38.2M	CN¥78.2M	CN¥85.9M	CN¥12.7M	CN¥8.2M	CN¥8.6M
Total liabilities	CN¥253.6M	CN¥271.3M	CN¥285.3M	CN¥262.6M	CN¥260.7M	CN¥282.9M	CN¥304.5M	CN¥336.6M	CN¥345.5M	CN¥268.1M	CN¥271.6M	CN¥303.7M
Shareholders' equity
Common stock & paid-in capital	CN¥147,050	CN¥141,000	CN¥141,089	CN¥141,000	CN¥145,000	CN¥145,000	—	CN¥139,000	CN¥137,000	CN¥137,000	CN¥137,000	CN¥137,000
Retained earnings (deficit)	−CN¥4.29B	−CN¥4.27B	−CN¥4.26B	−CN¥4.24B	−CN¥4.22B	−CN¥4.21B	−CN¥4.20B	−CN¥4.12B	−CN¥4.08B	−CN¥3.98B	−CN¥3.85B	−CN¥3.69B
Accumulated other comprehensive income	−CN¥168.3M	−CN¥165.3M	−CN¥162.2M	−CN¥160.1M	−CN¥158.4M	−CN¥158.1M	—	−CN¥164.1M	−CN¥160.0M	−CN¥160.9M	−CN¥161.5M	−CN¥158.5M
Total shareholders' equity	CN¥497.3M	CN¥516.5M	CN¥535.6M	CN¥549.6M	CN¥564.2M	CN¥571.8M	CN¥580.8M	CN¥648.2M	CN¥677.8M	CN¥716.8M	CN¥768.4M	CN¥863.0M
Key figures
Total debt	CN¥45.1M	CN¥50.9M	CN¥43.1M	CN¥33.2M	CN¥39.1M	CN¥42.3M	—	CN¥100.9M	CN¥107.9M	CN¥19.0M	CN¥12.3M	CN¥19.1M
Net cash (debt)	CN¥374.1M	CN¥395.1M	CN¥438.2M	CN¥430.8M	CN¥413.6M	CN¥452.8M	—	CN¥397.1M	CN¥424.6M	CN¥553.6M	CN¥602.8M	CN¥617.2M
Working capital	CN¥441.0M	CN¥471.2M	CN¥491.9M	CN¥504.2M	CN¥510.7M	CN¥509.1M	CN¥510.3M	CN¥526.4M	CN¥546.6M	CN¥585.4M	CN¥620.7M	CN¥671.9M
Tangible book value	CN¥497.0M	CN¥515.9M	CN¥535.0M	CN¥549.3M	CN¥563.9M	CN¥571.4M	CN¥580.4M	CN¥647.6M	CN¥677.1M	CN¥716.1M	CN¥767.4M	CN¥861.7M
Shares outstanding	1.1M	1.1M	1.0M	1.1M	1.1M	1.1M	107.6M	1.0M	1.0M	1.0M	1.0M	1.0M
Current ratio	3.03	3.05	2.99	3.14	3.22	3.02	2.92	3.04	3.11	3.29	3.36	3.28
Quick ratio	2.77	2.71	2.68	2.81	2.86	2.66	2.52	2.64	2.72	2.86	2.90	2.83
Debt / equity	0.09	0.10	0.08	0.06	0.07	0.07	—	0.16	0.16	0.03	0.02	0.02
Equity / assets	66.2%	65.6%	65.2%	67.7%	68.4%	66.9%	65.6%	65.8%	66.2%	72.8%	73.9%	74.0%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 28, 2026); data from EODHD.

BNR financial position

At the end of fiscal 2025 (December 31, 2025), Burning Rock Biotech had total assets of CN¥820.9 million (down 7.3% from a year earlier), total liabilities of CN¥285.3 million and shareholders' equity of CN¥535.6 million. It held CN¥481.4 million in cash and short-term investments against CN¥43.1 million of debt, a net cash position of CN¥438.2 million. Its current ratio was 2.99. In the latest quarter (ended June 30, 2026) total assets were CN¥750.9 million and equity CN¥497.3 million.

Related: BNR income statement, BNR cash flow statement, BNR key metrics. See the BNR stock overview for the latest quote and news.

BNR balance sheet FAQ

What are Burning Rock Biotech's total assets?

Burning Rock Biotech reported total assets of CN¥820.9 million at the end of fiscal 2025 (December 31, 2025), compared with CN¥885.3 million a year earlier.

How much debt does Burning Rock Biotech have?

Burning Rock Biotech had CN¥43.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.08.

How much cash does Burning Rock Biotech have?

Burning Rock Biotech held CN¥481.4 million in cash and short-term investments at the end of fiscal 2025; with CN¥43.1 million of debt that is net cash of CN¥438.2 million.

What is Burning Rock Biotech's book value?

Burning Rock Biotech's shareholders' equity (book value) was CN¥535.6 million at the end of fiscal 2025.

What is Burning Rock Biotech's current ratio?

Burning Rock Biotech had current assets of CN¥739.1 million and current liabilities of CN¥247.1 million, a current ratio of 2.99 (it can cover its short-term obligations).

How much goodwill does Burning Rock Biotech have?

Burning Rock Biotech carried CN¥0.6 million of goodwill and intangible assets, 0.1% of total assets, at the end of fiscal 2025.