Burning Rock Biotech Limited (BNR) Key Metrics
BNR key metrics, 2017–2025
Fiscal year ended December 31, 2025 · Chinese yuanBNR returns How much profit the business earns on the capital it uses.
BNR financial health Debt, liquidity and how easily interest is covered.
BNR efficiency & capital use Working capital cycle and where the cash goes.
BNR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BNR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BNR cash returned to shareholders
BNR key metrics in Chinese yuan
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | |||||||||
| Return on equity (ROE) | −9.9% | −51.4% | −67.9% | −64.7% | −37.3% | −53.3% | — | — | −77.9% |
| Return on invested capital (ROIC) | −41.1% | −202.5% | −225.3% | −209.2% | −194.5% | — | — | — | −64.9% |
| Return on assets (ROA) | −6.5% | −36.0% | −49.8% | −50.2% | −32.2% | −23.2% | −27.6% | −45.9% | −32.8% |
| Return on tangible assets | −6.7% | −39.2% | −62.9% | −61.3% | −35.0% | −15.3% | −19.9% | −47.7% | −32.8% |
| Free cash flow margin | −6.2% | −19.0% | −49.3% | −92.1% | −136.1% | −35.6% | −71.7% | −83.1% | −141.0% |
| Financial health | |||||||||
| 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 |
| 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 |
| Net 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 |
| Debt / equity | 0.08 | 0.09 | 0.02 | 0.04 | 0.05 | 0.02 | — | — | 1.00 |
| Debt / assets | 0.05 | 0.06 | 0.01 | 0.03 | 0.04 | 0.02 | 0.08 | 0.73 | 0.42 |
| Current ratio | 2.99 | 2.92 | 3.36 | 3.06 | 4.89 | 10.45 | 4.30 | 1.03 | 3.83 |
| Quick ratio | 2.76 | 2.71 | 3.09 | 2.74 | 4.56 | 10.17 | 3.94 | 0.86 | 3.61 |
| Interest coverage | — | — | — | -87.9 | -518.9 | -618.3 | -18.8 | -9.0 | -12.3 |
| 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 |
| Invested capital | CN¥97.4M | CN¥113.3M | CN¥165.6M | CN¥303.7M | CN¥436.9M | CN¥210.4M | −CN¥1.23B | −CN¥461.3M | CN¥147.2M |
| Tangible asset 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 |
| Net current asset value | CN¥453.8M | CN¥472.1M | CN¥612.5M | CN¥829.6M | CN¥1.39B | CN¥2.28B | −CN¥1.03B | −CN¥683.1M | CN¥67.1M |
| Capital allocation | |||||||||
| Dividends paid | — | — | — | — | — | CN¥360.4M | — | — | — |
| Share buybacks (net) | CN¥0 | CN¥72,000 | CN¥7.0M | CN¥71.8M | CN¥4.3M | CN¥3.5M | CN¥3.6M | CN¥1.5M | CN¥9.1M |
| Capex / revenue | 1.0% | 1.2% | 1.7% | 11.0% | 42.0% | 18.5% | 12.0% | 11.8% | 20.7% |
| Capex / depreciation | 0.24 | 0.11 | 0.07 | 0.50 | 4.47 | 2.39 | 1.46 | 1.00 | 1.08 |
| Stock-based compensation / revenue | 2.6% | 30.2% | 48.5% | 58.0% | 55.6% | 40.3% | 6.0% | 2.4% | 3.6% |
| R&D / revenue | 30.9% | 45.0% | 64.6% | 74.9% | 72.4% | 61.4% | 41.1% | 50.4% | 44.1% |
| SG&A / revenue | 54.0% | 87.7% | 127.6% | 166.6% | 156.2% | 107.6% | 74.8% | 91.5% | 129.1% |
| Efficiency | |||||||||
| Days sales outstanding | 120.2 | 114.3 | 108.6 | 107.5 | 97.8 | 85.1 | 59.9 | 67.1 | 135.4 |
| Days of inventory on hand | 147.9 | 146.1 | 208.8 | 252.6 | 242.8 | 198.5 | 180.5 | 162.8 | 155.4 |
| Days payables outstanding | 99.5 | 61.6 | 72.3 | 113.6 | 125.2 | 75.3 | 48.2 | 75.5 | 131.8 |
| Cash conversion cycle (days) | 168.7 | 198.7 | 245.1 | 246.4 | 215.5 | 208.3 | 192.2 | 154.4 | 159.0 |
| Receivables turnover | 3.04 | 3.19 | 3.36 | 3.40 | 3.73 | 4.29 | 6.09 | 5.44 | 2.70 |
| Payables turnover | 3.67 | 5.92 | 5.05 | 3.21 | 2.92 | 4.85 | 7.57 | 4.84 | 2.77 |
| Inventory turnover | 2.47 | 2.50 | 1.75 | 1.45 | 1.50 | 1.84 | 2.02 | 2.24 | 2.35 |
| Asset turnover | 0.63 | 0.54 | 0.41 | 0.29 | 0.21 | 0.24 | 0.63 | 0.54 | 0.28 |
| Average receivables | CN¥177.7M | CN¥161.5M | CN¥159.9M | CN¥165.8M | CN¥136.1M | CN¥100.2M | CN¥62.6M | CN¥38.4M | CN¥41.2M |
| Average payables | CN¥37.3M | CN¥25.9M | CN¥34.5M | CN¥57.0M | CN¥49.3M | CN¥23.9M | CN¥14.3M | CN¥15.3M | CN¥14.3M |
| Average inventory | CN¥55.4M | CN¥61.4M | CN¥99.7M | CN¥126.8M | CN¥95.6M | CN¥63.1M | CN¥53.6M | CN¥32.9M | CN¥16.8M |
| Intangibles / total assets | 0.1% | 0.0% | 0.1% | 0.1% | 0.2% | 0.1% | 0.0% | 0.1% | 0.1% |
Computed from BNR's annual financial statements (latest annual report filed April 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Chinese yuan; data from EODHD. Averages use the opening and closing balance of each year.
BNR valuation and financial ratios
Burning Rock Biotech earned a return on equity of −9.9% and a return on invested capital of −41.1% in fiscal 2025. It ended the year with CN¥43.1 million of debt and CN¥481.4 million in cash and short-term investments, a net cash position of CN¥438.2 million.
See the BNR income statement, the BNR chart for price history, or the BNR stock overview for the latest quote and news.
BNR key metrics FAQ
What is Burning Rock Biotech's return on equity?
Burning Rock Biotech's return on equity (ROE) was −9.9% in fiscal 2025: net income of -CN¥55.3 million on average shareholders' equity of CN¥558.2 million.
What is Burning Rock Biotech's ROIC?
Burning Rock Biotech's return on invested capital was −41.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Burning Rock Biotech have?
Burning Rock Biotech had total debt of CN¥43.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.08 and more cash than debt.
What is Burning Rock Biotech's current ratio?
Burning Rock Biotech's current ratio was 2.99 at the end of fiscal 2025: current assets were 2.99 times current liabilities.