Burning Rock Biotech Ltd (BNR) fair value: what the stock is really worth
We calculate from audited financials what Burning Rock Biotech Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $2.32 – $302.00 · fair‑value band $4.99 – $9.99 · the $14.24 price screens above the $7.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Burning Rock Biotech Limited develops and sells cancer therapy selection tests in the People's Republic of China and the United States. It operates in three segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services.
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Burning Rock Biotech Limited develops and sells cancer therapy selection tests in the People's Republic of China and the United States. It operates in three segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services. The company offers next-generation sequencing (NGS)-based tissue, liquid biopsy cancer therapy selection, and prognosis prediction tests for various 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 key products include OncoScreen Focus, a multi-gene tumor mutation co-detection test kit for non-small cell lung cancer (NSCLC) patients; OncoScreen Plus, a pan-cancer test for tissue samples; OncoCompass Plus, a corresponding test for liquid biopsy samples; OncoCompass Target, a ctDNA liquid biopsy-based test for NSCLC; and ColonCore for assessing microsatellite loci related to MSI status and detecting mutations in genes associated with gastrointestinal and related cancers. The company also provides CanCatch, a pre-operative ctDNA detection and post-operative minimal residual disease calling for relapsed patients; OncoMaster, an automatic NGS data analysis and report interpretation machine; as well as Magnis BR-customized version of its key products. In addition, it engages in the facilitation of laboratory equipment sales and sales of reagent kits. The company has a development and commercialization agreement with Myriad Genetics, Inc. to in-license Myriad myChoice tumor testing in China; and collaborations on clinical trials and research studies with AstraZeneca, Bayer, Johnson & Johnson, CStone, BeiGene, Abbisko Therapeutics, IMPACT Therapeutics, Boehringer Ingelheim, and Merck KGaA. Burning Rock Biotech Limited was founded in 2014 and is headquartered in Guangzhou, the People's Republic of China.
Stock analysis
Burning Rock Biotech Ltd (BNR) currently trades at $14.24, while our model-based Fair Value estimate is $7.96, implying the stock looks roughly 78.8% overvalued today.
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Valuation
How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: $4.99 (bear) to $9.99 (bull), the price of $14.24 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Burning Rock Biotech Ltd reported revenue of 540M CNY in FY2025 versus 508M CNY in FY2021, a compound +1.5%/yr. Reported net income was −55.3M CNY in FY2025.
Key figures
Market cap $74.2M · P/S ratio 0.14 · EPS (TTM) $−0.8300 · Net margin −10.3% · Return on equity −10.9% · Return on assets (EBIT) −41.6% · Operating margin −17.5% · Revenue (TTM) $514M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 66% below its 52-week high and 365% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −2% fair-value upside, at −44%, BNR screens richer than that median.
Fair Value models
Bear $4.99Fair Value $7.96Bull $9.99
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.22/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.8%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−95.9% (2020) → −10.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Burning Rock Biotech Ltd with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Diagnostics & Research · 142 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−34% · Below median
Profitability
Return on assets−4% · Bottom 25%
Net margin (TTM)−12% · Bottom 25%
Operating margin (TTM)−17% · Bottom 25%
Growth and dividend
Revenue growth−19% · Bottom 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Diagnostics & Research median · lower = cheaper
P/B0.14× · Cheapest 25%
P/S (TTM)0.14× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 27
PAST (return on equity)0· sector 9
HEALTH (low debt)100· sector 96
DIVIDEND (yield)0· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Burning Rock Biotech Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BNR
Frequently asked questions
Is Burning Rock Biotech Ltd (BNR) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $7.96 versus a price of $14.24, about −44% upside (overvalued).
What is the fair value of BNR?
Our model-based fair value for Burning Rock Biotech Ltd is $7.96 (as of Sep 13, 2026), built from audited fundamentals. The current price: $14.24.
What is the quality score of BNR?
Burning Rock Biotech Ltd has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Burning Rock Biotech Ltd (BNR)?
Our model-based price target is the fair value of $7.96 (as of Sep 13, 2026) from 1 valuation models. Cautious scenario $4.99, optimistic scenario $9.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Burning Rock Biotech Ltd stock forecast for 2026?
Our models put fair value at $7.96, about −44% upside versus a price of $14.24 (overvalued). Cautious scenario $4.99, optimistic scenario $9.99. The calculation is refreshed regularly with new filings.
What is the revenue of Burning Rock Biotech Ltd (BNR)?
Burning Rock Biotech Ltd reported trailing-twelve-month revenue of about $514M (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Burning Rock Biotech Ltd (BNR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Burning Rock Biotech Ltd it is $7.96 per share (as of Sep 13, 2026), against a price of $14.24. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Burning Rock Biotech Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, BNR trades above its calculated fair value: price $14.24, fair value $7.96, a gap of about −44% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BNR?
No. The price is what the market pays today ($14.24); the fair value is what the company's own numbers justify ($7.96). For Burning Rock Biotech Ltd the two are $6.27 per share apart. That gap is exactly why we show both numbers side by side.
How much is Burning Rock Biotech Ltd worth?
The market values Burning Rock Biotech Ltd at about $74.2M (market capitalisation, as of Sep 13, 2026). Per share that is $14.24; our models calculate a fair value of $7.96 per share.
What do the bullish and bearish scenarios say about BNR?
Our models span a range for Burning Rock Biotech Ltd: cautious scenario $4.99, base $7.96, optimistic $9.99 per share (as of Sep 13, 2026, price $14.24). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Burning Rock Biotech Ltd (BNR)?
Balance-sheet figures for Burning Rock Biotech Ltd (as of Sep 13, 2026): return on equity −10.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is BNR from its 52-week high?
Burning Rock Biotech Ltd trades at $14.24, about 66% below its 52-week high of $41.72 and 365% above the low of $3.06 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $7.96 is for.
Which stocks are comparable to Burning Rock Biotech Ltd?
From the same area (Healthcare) we also value Thermo Fisher Scientific Inc, Danaher Corporation, WuXi AppTec Co, Lonza Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Burning Rock Biotech Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price $14.24, calculated fair value $7.96 (−44%), Quality Score 60/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BNR calculated?
We run Burning Rock Biotech Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $7.96, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Burning Rock Biotech Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Burning Rock Biotech Ltd (BNR)?
The closing price on Sep 18, 2026 was $14.24. Our model-based fair value is $7.96, about −44% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Burning Rock Biotech Ltd right now?
The price sits above even our optimistic bull case ($9.99). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($4.99 to $9.99) leaves room in how you read the outcome.
Key figures of Burning Rock Biotech Ltd
How large is the market capitalisation of Burning Rock Biotech Ltd (BNR)?
The market capitalisation of Burning Rock Biotech Ltd is $74.2M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Burning Rock Biotech Ltd (BNR)?
The price-to-sales ratio of Burning Rock Biotech Ltd is 0.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Burning Rock Biotech Ltd (BNR)?
Earnings per share at Burning Rock Biotech Ltd are $−0.8300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Burning Rock Biotech Ltd (BNR)?
The net margin of Burning Rock Biotech Ltd is −10.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Burning Rock Biotech Ltd (BNR)?
The return on equity (ROE) of Burning Rock Biotech Ltd is −10.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Burning Rock Biotech Ltd (BNR)?
On an EBIT basis the return on assets of Burning Rock Biotech Ltd is −41.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Burning Rock Biotech Ltd (BNR)?
The operating margin of Burning Rock Biotech Ltd is −17.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Burning Rock Biotech Ltd (BNR)?
Revenue at Burning Rock Biotech Ltd is growing −18.9% versus a year earlier (3y avg −1.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Burning Rock Biotech Ltd (BNR) generate?
The free cash flow of Burning Rock Biotech Ltd is −$33.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Burning Rock Biotech Ltd (BNR) hold?
Burning Rock Biotech Ltd holds more cash than debt, $438M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 13, 2026