Barinthus Biotherapeutics PLC (BRNS) intrinsic value & 10-year financials

Barinthus Biotherapeutics PLC (BRNS) has a Graham intrinsic value of $4.65 per share. Over the last 7 fiscal years revenue grew 32.7% a year to $0, with an average return on invested capital of -58.5%.

Graham intrinsic value
$4.65
Revenue (FY2025)
$0
Revenue growth (7-yr CAGR)
32.7%
ROIC (10-yr avg)
-58.5%
Free cash flow (FY2025)
-$48.0M

BRNS 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $0 -$66.4M -$1.64 -$48.0M — -331.4%
FY2024 $15.0M -$61.1M -$1.55 -$29.8M -454.1% -159.2%
FY2023 $802.0K -$73.3M -$1.91 -$56.3M -10463.1% -142.9%
FY2022 $44.7M $5.3M $0.14 -$20.6M -9.0% -8.0%
FY2021 $268.0K -$50.9M -$1.96 -$33.7M -16873.5% 265.1%
FY2020 $4.8M -$17.7M -$2.24 -$11.3M -415.8% 25.5%
FY2019 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Barinthus Biotherapeutics plc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Barinthus Biotherapeutics plc. has historically struggled to out-earn its cost of capital, averaging just -21.3% ROIC.

Barinthus Biotherapeutics plc. 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, Barinthus Biotherapeutics plc. 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.

BRNS stock: frequently asked questions

What is the intrinsic value of Barinthus Biotherapeutics PLC (BRNS) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, BRNS's intrinsic value is about $4.65 per share.

Does Barinthus Biotherapeutics PLC generate free cash flow?

Barinthus Biotherapeutics PLC generated -$48.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is BRNS's return on invested capital?

Average ROIC over the last 7 fiscal years was -58.5%, and average return on equity was -20.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this BRNS data come from?

From Barinthus Biotherapeutics PLC's annual 10-K filings on SEC EDGAR, most recently filed Aug 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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