BLLN Healthcare

BillionToOne, Inc.

$110.45+0.04%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Healthcare
Industry: Diagnostics & Research
Country: United States
Market cap: 5.2B USD
Enterprise value: 4.9B USD
Full-time employees: 713

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Not enough data: growth

Would rank #83 of 1,157 fully scored healthcare companies (top 8%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Nothing unusual stands out. Its strongest area is profitability (91/100).
None of our checks flag anything unusual in BillionToOne's latest figures; its strongest area is profitability, at 91 out of 100.

StockQuotient Score

74/ 100

Oct 5 74 → Nov 4 74

Valuation

Is the price right?

37/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.58Sector median: 0.0148 · MAD: 0.0148

EBITDA yield0.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.77Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield0.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield8.9%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

Insufficient data

Insufficient data: 0 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin10.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.32Sector median: 0.0706 · MAD: 0.1217

Return on assets5.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.65Sector median: 0.0166 · MAD: 0.0537

Return on invested capital43.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.81Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin71.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity7.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.6250 · MAD: 0.3380

Current ratio11.69×

SEC filings · latest balance sheetReported value33% base weight · Z-score 6.57Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.25Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about BillionToOne

Is BillionToOne getting weaker?: Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 74/100 since Oct 28, 2026.
How is BillionToOne valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 37/100 against 1,393 healthcare peers. EBITDA yield 0.9% vs a peer median of 4.0% (weaker than 65% of peers).EBITDA yield 0.9% vs peers 4.0% (weaker than 65% of peers).
Is BillionToOne growing?: Insufficient data: 0 of 3 inputs reported (at least 2 needed).
How profitable is BillionToOne?: More profitable than most of its peers. Profitability scores 91/100 against 1,393 healthcare peers. Return on invested capital 43.2% vs a peer median of 4.7% (stronger than 95% of peers).Return on invested capital 43.2% vs peers 4.7% (stronger than 95% of peers).
How risky is BillionToOne?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 11.69× vs a peer median of 2.59× (stronger than 90% of peers).Current ratio 11.69× vs peers 2.59× (stronger than 90% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	354.5M USD	397.4M USD	+12.1%
Net income (12 months)	29.4M USD	37.7M USD	+28.2%
Operating margin	10.2%	10.9%	+0.7 pts
Free cash flow (12 months)	26.4M USD	33.2M USD	+25.7%
Debt	90.0M USD	91.0M USD	+1.1%
Cash	537.5M USD	548.6M USD	+2.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Diagnostics & Research · 26 companies

Valuations in Diagnostics & Research are within their usual range since Nov 2018.

53% of months since Nov 2018 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +109% vs the whole market, against a usual +111%.

Nov 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2023	FY 2024	FY 2025	Change
Gross margin	24.1%	53.0%	68.3%	▲ 15 pts
Operating margin	-96.9%	-30.9%	5.3%	▲ 36 pts
Net margin	-115.3%	-27.2%	2.4%	▲ 30 pts
Return on assets (ROA)	—	-13.8%	1.2%	▲ 15 pts
Return on equity (ROE)	—	—	1.6%	—
Free cash flow margin	-83.4%	-30.7%	5.2%	▲ 36 pts
Current ratio	—	8.03×	11.69×	▲ 46%
Quick ratio	—	7.72×	11.32×	▲ 47%
Debt to equity	—	—	0.12×	—
Interest coverage	-21.24×	-19.76×	168.66×	▲ 954%

BLLN price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Not enough data: growth

Would rank #83 of 1,157 fully scored healthcare companies (top 8%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Questions investors ask about BillionToOne

Is BillionToOne getting weaker?

Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 74/100 since Oct 28, 2026.

How is BillionToOne valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 37/100 against 1,393 healthcare peers. EBITDA yield 0.9% vs a peer median of 4.0% (weaker than 65% of peers).EBITDA yield 0.9% vs peers 4.0% (weaker than 65% of peers).

Is BillionToOne growing?

Insufficient data: 0 of 3 inputs reported (at least 2 needed).

How profitable is BillionToOne?

More profitable than most of its peers. Profitability scores 91/100 against 1,393 healthcare peers. Return on invested capital 43.2% vs a peer median of 4.7% (stronger than 95% of peers).Return on invested capital 43.2% vs peers 4.7% (stronger than 95% of peers).

How risky is BillionToOne?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 11.69× vs a peer median of 2.59× (stronger than 90% of peers).Current ratio 11.69× vs peers 2.59× (stronger than 90% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

354.5M USD

397.4M USD

+12.1%

Net income (12 months)

29.4M USD

37.7M USD

+28.2%

Operating margin

10.2%

10.9%

+0.7 pts

Free cash flow (12 months)

26.4M USD

33.2M USD

+25.7%

Debt

90.0M USD

91.0M USD

+1.1%

Cash

537.5M USD

548.6M USD

+2.1%

Key ratios

FY 2023

FY 2024

FY 2025

Change

Gross margin

24.1%

53.0%

68.3%

▲ 15 pts

Operating margin

-96.9%

-30.9%

5.3%

▲ 36 pts

Net margin

-115.3%

-27.2%

2.4%

▲ 30 pts

Return on assets (ROA)

—

-13.8%

1.2%

▲ 15 pts

Return on equity (ROE)

—

1.6%

—

Free cash flow margin

-83.4%

-30.7%

5.2%

▲ 36 pts

Current ratio

—

8.03×

11.69×

▲ 46%

Quick ratio

—

7.72×

11.32×

▲ 47%

Debt to equity

—

0.12×

—

Interest coverage

-21.24×

-19.76×

168.66×

▲ 954%