BillionToOne, Inc. (BLLN) Key Metrics
BLLN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.63B
- Enterprise value
- $4.99B
- P/E (TTM)
- 155.7
- Forward P/E
- 69.9
- PEG ratio
- —
- Price / sales
- 11.7
- Price / book
- 10.1
- EV / EBITDA
- 99.3
- Dividend yield
- —
- Beta
- —
BLLN key metrics, 2023–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBLLN returns How much profit the business earns on the capital it uses.
BLLN per-share figures Results divided by the shares outstanding at year-end.
BLLN financial health Debt, liquidity and how easily interest is covered.
BLLN efficiency & capital use Working capital cycle and where the cash goes.
BLLN valuation history
BLLN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BLLN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BLLN cash returned to shareholders
BLLN price vs earnings per share
BLLN key metrics
2023–2025| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Valuation | |||
| Market capitalization | $3.75B | — | — |
| Enterprise value | $3.36B | — | — |
| P/E ratio | 502.9 | — | — |
| Price / sales | 12.3 | — | — |
| Price / book | 7.8 | — | — |
| Price / free cash flow | 238.6 | — | — |
| Price / operating cash flow | 152.4 | — | — |
| EV / sales | 11.0 | — | — |
| EV / EBITDA | 170.1 | — | — |
| EV / free cash flow | 213.9 | — | — |
| Earnings yield | 0.2% | — | — |
| Free cash flow yield | 0.4% | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | — | — |
| Share price at fiscal year-end | $81.84 | — | — |
| Per share | |||
| Revenue per share | $6.66 | $3.41 | $1.60 |
| Earnings per share | $0.16 | −$0.93 | −$1.85 |
| Operating cash flow per share | $0.54 | −$0.93 | −$1.20 |
| Free cash flow per share | $0.34 | −$1.05 | −$1.34 |
| Cash per share | $10.83 | $4.28 | $2.18 |
| Book value per share | $10.48 | $3.75 | $0.68 |
| Tangible book value per share | $10.47 | $3.75 | $0.68 |
| Capex per share | $0.19 | $0.12 | $0.14 |
| Debt per share | $2.38 | $2.45 | $3.27 |
| Shares outstanding | 45.8M | 44.7M | 44.7M |
| Change in shares outstanding | +2.4% | 0.0% | — |
| Returns & profitability | |||
| Return on equity (ROE) | 2.3% | −41.9% | −271.3% |
| Return on invested capital (ROIC) | 17.2% | −45.1% | −69.0% |
| Return on assets (ROA) | 1.6% | −16.8% | −43.1% |
| Return on tangible assets | 1.2% | −13.8% | −43.1% |
| Free cash flow margin | 5.2% | −30.7% | −83.4% |
| Income quality (OCF / net income) | 3.30 | — | — |
| Financial health | |||
| Total debt | $108.9M | $109.4M | $146.3M |
| Cash & short-term investments | $496.0M | $191.5M | $97.3M |
| Net debt | −$387.1M | −$82.1M | $49.1M |
| Debt / equity | 0.23 | 0.65 | 4.80 |
| Debt / assets | 0.17 | 0.36 | 0.76 |
| Net debt / EBITDA | −19.59 | — | — |
| Current ratio | 11.69 | 8.03 | 1.73 |
| Quick ratio | 11.32 | 7.72 | 1.62 |
| Interest coverage | 168.7 | -19.8 | -21.2 |
| Working capital | $512.6M | $199.4M | $48.7M |
| Invested capital | $93.0M | $85.7M | $79.6M |
| Tangible asset value | $479.5M | $167.5M | $30.5M |
| Net current asset value | $408.0M | $93.5M | −$45.7M |
| Graham number | $6.20 | — | — |
| Graham net-net per share | $8.37 | $1.79 | −$1.20 |
| Capital allocation | |||
| Share buybacks (net) | $0 | $546,000 | — |
| Dividends + buybacks / free cash flow | 0.0% | — | — |
| Capex / revenue | 2.9% | 3.5% | 8.6% |
| Capex / operating cash flow | 36.1% | — | — |
| Capex / depreciation | 0.75 | 0.46 | 0.96 |
| Stock-based compensation / revenue | 5.2% | 5.5% | 6.8% |
| R&D / revenue | 16.2% | 24.0% | 31.2% |
| SG&A / revenue | 46.9% | — | — |
| Efficiency | |||
| Days sales outstanding | 39.7 | 40.4 | 46.3 |
| Days of inventory on hand | 49.6 | 40.6 | 48.3 |
| Days payables outstanding | 21.7 | 19.1 | 21.5 |
| Cash conversion cycle (days) | 67.6 | 61.9 | 73.0 |
| Receivables turnover | 9.20 | 9.03 | 7.89 |
| Payables turnover | 16.83 | 19.07 | 16.95 |
| Inventory turnover | 7.36 | 9.00 | 7.56 |
| Asset turnover | 0.65 | 0.62 | 0.37 |
| Average receivables | $33.2M | $16.9M | $9.1M |
| Average payables | $5.7M | $3.8M | $3.2M |
| Average inventory | $13.1M | $8.0M | $7.2M |
| Intangibles / total assets | 0.1% | 0.1% | 0.0% |
Computed from BLLN's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BLLN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), BillionToOne traded at 502.9 times earnings. Based on the latest twelve months, the trailing P/E is 155.7 and the forward P/E is 69.9. BillionToOne earned a return on equity of 2.3% and a return on invested capital of 17.2% in fiscal 2025. It ended the year with $108.9 million of debt and $496.0 million in cash and short-term investments, a net cash position of $387.1 million.
See the BLLN income statement, the BLLN chart for price history, or the BLLN stock overview for the latest quote and news.
BLLN key metrics FAQ
What is BillionToOne's P/E ratio?
BillionToOne's trailing P/E ratio is 155.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 69.9. At the end of fiscal 2025 it was 502.9.
What is BillionToOne's EV/EBITDA?
BillionToOne's enterprise value was 170.1 times EBITDA at the end of fiscal 2025 (enterprise value $3.4 billion, EBITDA $19.8 million); the current EV/EBITDA is 99.3.
What is BillionToOne's return on equity?
BillionToOne's return on equity (ROE) was 2.3% in fiscal 2025: net income of $7.5 million on average shareholders' equity of $323.9 million.
What is BillionToOne's ROIC?
BillionToOne's return on invested capital was 17.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does BillionToOne have?
BillionToOne had total debt of $108.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.23 and more cash than debt.
What is BillionToOne's free cash flow yield?
BillionToOne generated $15.7 million of free cash flow in fiscal 2025, a free cash flow yield of 0.4% on its market value at year-end ($3.7 billion).
What is BillionToOne's current ratio?
BillionToOne's current ratio was 11.69 at the end of fiscal 2025: current assets were 11.69 times current liabilities.