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Institutional distribution: ownership decreased -0.85% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.5M 100.0% | $30.8M 100.0% | $36.1M 100.0% | $27.8M 100.0% | $18.0M 100.0% | $8.5M 100.0% | $10.1M 100.0% | $12.0M 100.0% | $9.5M 100.0% |
| Cost of Revenue | $15.3M 53.7% | $30.4M 98.8% | $26.6M 73.5% | $21.9M 78.6% | $14.1M 78.5% | $5.7M 67.4% | $6.8M 66.8% | $8.7M 72.6% | $6.0M 63.4% |
| Research & Development | $11.4M 39.9% | $24.8M 80.6% | $54.0M 149.6% | $49.0M 176.4% | $22.5M 125.0% | $10.3M 120.6% | $9.1M 89.6% | $9.5M 79.0% | $12.0M 126.3% |
| Selling, General & Admin | $35.1M 123.3% | $51.9M 168.5% | $92.8M 256.8% | $88.6M 318.7% | $58.5M 325.3% | $31.1M 365.4% | $20.2M 199.0% | $14.2M 118.5% | $14.1M 148.1% |
| Total Operating Expenses | $46.5M 163.2% | $104.4M 339.1% | $224.8M 622.5% | $137.6M 495.1% | $81.0M 450.3% | $41.3M 486.0% | $29.2M 288.6% | $23.7M 197.5% | $26.7M 280.8% |
| Operating Income | -$33.3M -116.9% | -$104.0M -337.9% | -$215.2M -596.0% | -$131.7M -473.7% | -$77.1M -428.8% | -$38.6M -453.4% | -$25.9M -255.4% | -$20.4M -170.1% | -$23.2M -244.3% |
| Interest Expense | — | — | $5.1M 14.2% | $298K 1.1% | $927K 5.2% | $2.5M 29.6% | $2.3M 22.6% | $1.4M 11.5% | $591K 6.2% |
| Interest & Investment Income | $1.0M 3.5% | $1.5M 4.9% | $3.3M 9.1% | $1.5M 5.4% | $400K 2.2% | — | — | — | — |
| Other Income (Expense), net | $7.0M 24.6% | -$8.0M -26.0% | -$17.2M -47.6% | $986K 3.5% | -$1.1M -5.8% | -$2.5M -29.7% | -$3.9M -38.7% | $1.9M 16.1% | -$128K -1.3% |
| Pretax Income | -$26.3M -92.4% | -$112.0M -363.9% | -$232.4M -643.6% | -$130.7M -470.2% | -$78.2M -434.6% | -$41.1M -483.1% | -$29.8M -294.1% | -$18.5M -154.0% | -$23.3M -245.6% |
| Income Tax Expense | $67K 0.2% | $33K 0.1% | $62K 0.2% | $1.9M 6.8% | -$5.7M -31.8% | $29K 0.3% | $21K 0.2% | $16K 0.1% | $19K 0.2% |
| Net Income | -$26.4M -92.6% | -$112.0M -364.0% | -$232.5M -643.7% | -$132.6M -476.9% | -$72.4M -402.8% | -$41.1M -483.4% | -$29.8M -294.3% | -$18.5M -154.1% | -$23.4M -245.8% |
| Per Share | |||||||||
| EPS (Basic) | $-4.85 | $-88.13 | $-408.60 | $-4.58 | $-0.26 | — | — | — | — |
| EPS (Diluted) | $-4.85 | $-88.13 | $-408.60 | $-4.58 | $-0.26 | — | — | — | — |
| Weighted Avg Shares (Basic) | 5.4M | 1.3M | 569K | 28.9M | 276.8M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 5.4M | 1.3M | 569K | 28.9M | 276.8M | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 9 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -59%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $3M covers the $0 due within a year 2990000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 32 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| BNGO | $16M | — | — | 0.6× | -7.4% | 46.3% | -92.6% | -59.4% | -59.4% | — | 30 |
Peers = companies sharing BNGO's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
Where each multiple sits in its own 8-yr range · 12th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 8-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 9.2× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 72.6 | 66.8 | 67.4 | 78.5 | 78.6 | 73.5 | 98.8 | 53.7 |
| R&D | 79.0 | 89.6 | 120.6 | 125.0 | 176.4 | 149.6 | 80.6 | 39.9 |
| SG&A | 118.5 | 199.0 | 365.4 | 325.3 | 318.7 | 256.8 | 168.5 | 123.3 |
| Operating Income | -170.1 | -255.4 | -453.4 | -428.8 | -473.7 | -596.0 | -337.9 | -116.9 |
| Income Tax | 0.1 | 0.2 | 0.3 | -31.8 | 6.8 | 0.2 | 0.1 | 0.2 |
| Net Income | -154.1 | -294.3 | -483.4 | -402.8 | -476.9 | -643.7 | -364.0 | -92.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BNGO: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.