Only one of our models could value this stock with confidence, so use it as a guide.
Not used by alerts or posts.
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionBillionToOne Inc. Class A Common Stock (BLLN)
Fair value (3 models)
Not available
ACCE price target
$105
Rating
Not rated
Horizon
12 months
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Price used: $108 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
59
out of 100
Analysts
88% buy
8 covering
P/E
171.1x
forward 72.6x
Dividend yield
0.00%
BillionToOne Inc. Class A Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
BillionToOne sells prenatal and oncology genetic tests, most notably its UNITY non-invasive prenatal screen and a tumor-informed liquid biopsy product, both run through its own sequencing and analysis platform. The moat is the proprietary molecular-counting method behind those assays, which gives it a 71.3% gross margin and a clinical data set that payers and ordering physicians need before they will reimburse a new test. Revenue growth of 64.4% is the main reason to look, and the question is whether volume gains in prenatal screening can keep compounding while oncology reimbursement and pricing mature. At a 158x trailing P/E and 69.9x forward P/E, the stock is priced for earnings to expand sharply from a 5.0% operating margin, and ROE of 10.7% shows the profitability is still thin. The score of 52/100 and absence from major indices point to a name that is early in its institutional coverage, so the deeper work is on reimbursement trends and margin trajectory.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Earnings growth stalled
Revenue grew 64.4% year over year, but earnings grew 0.0%, so the top-line expansion is not reaching the bottom line. Operating margin of 5.0% leaves little cushion.
moderate
Valuation stretched on earnings
P/E of 155.7 and EV/EBITDA of 99.3 leave little room for disappointment, even though forward P/E falls to 69.9.
moderate
Score slipped over 90 days
The ACCE score fell from 62 to 58 over 90 days, with the growth and value components weakest at 64 and 13.
AI research notes
AI-assisted·How I use AIWritten Oct 20, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 64.4% year over year, and its five-year average growth rate has been 106.1% a year.
The company is profitable, with an 8.3% net margin and $16M of free cash flow over the last twelve months.
Why it could disappoint
At 155.7 times trailing earnings and 69.9 times forward earnings, the stock costs far more than the sector median of 24.1 times.
The free cash flow yield is only 0.3%, and return on invested capital is just 1.0%, so returns on capital are thin.
The diluted share count rose 2.4% last fiscal year, so each share now owns a slightly smaller slice of the company.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
PRO
Ask ACCE
Valuation
INVESTOR
Where BLLN's valuation models land
Price
$107.77
Model fair valueConfidence: medium
$36.01
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
Create a free account: 5 full stock pages a month, no card.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
+A plain reason under every score
+Conviction breakdown and growth / value / quality / momentum scores