BillionToOne, Inc. (BLLN) intrinsic value & 10-year financials
BillionToOne, Inc. (BLLN) has a Graham intrinsic value of $4.65 per share. At $98.12 on Oct 17, 2026, the stock trades 2010% above that value. Over the last 4 fiscal years revenue grew 106.2% a year to $305.1M, with an average return on invested capital of 13.4%.
- Graham intrinsic value
- $4.65
- Share price (Oct 17, 2026)
- $98.12
- Price vs Graham value
- 2010% above
- Market cap
- $2.1B
- Revenue (FY2025)
- $305.1M
- Revenue growth (4-yr CAGR)
- 106.2%
- ROIC (10-yr avg)
- 13.4%
- Free cash flow (FY2025)
- $15.7M
BLLN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $305.1M | $7.5M | $0.14 | $15.7M | 5.3% | -12.2% |
| FY2024 | $152.6M | -$41.6M | -$4.12 | -$46.8M | -30.9% | 13.9% |
| FY2023 | $71.7M | -$82.7M | -$8.45 | -$59.8M | -96.9% | 38.5% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BillionToOne, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
BillionToOne, Inc. has historically struggled to out-earn its cost of capital, averaging just 0.8% ROIC.
BillionToOne, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BillionToOne, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.65 per share.