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ValueScreener company report

Black Diamond Therapeutics, Inc. (BDTX)

NASDAQ / Healthcare / Biotechnology

Share price

1.74 USD Market dataClose of Oct 15, 2026

Market capitalisation

99.7M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 16, 2026
Ratios computed
Oct 15, 2026
Filed years
8, FY2018 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

19.9% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

4.46x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2025 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read cash generation

Revenue and net income, by fiscal year

FY2017 Net income: -4.6M USDFY2018 Revenue: 0.00 USDFY2018 Net income: -8.9M USDFY2019 Revenue: 0.00 USDFY2019 Net income: -35.3M USDFY2020 Revenue: 0.00 USDFY2020 Net income: -67.3M USDFY2021 Net income: -125.6M USDFY2022 Net income: -91.2M USDFY2023 Net income: -82.4M USDFY2024 Revenue: 0.00 USDFY2024 Net income: -69.7M USDFY2025 Revenue: 70.0M USDFY2025 Net income: 22.4M USD
Revenue Net income9 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
6 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 4.46x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Biotechnology industry (53 companies), 4.46x sits at the 23rd percentile; the middle half of that group runs from 4.71x to 41.19x.

Is it good

Return on equity was 19.9% in FY2025, in the band labelled "Strong" (15.0% to 25.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Biotechnology industry (494 companies), 19.9% sits at the 95th percentile; the middle half of that group runs from -146.9% to -28.9%.

Is it safe

Black Diamond Therapeutics, Inc. held more cash than debt at the end of FY2025 (net cash of 2.2m USD), so net debt to EBITDA is a net cash position rather than a leverage reading.

Year by year against peers
Whether Black Diamond Therapeutics, Inc.'s return on equity stayed above the median of the Biotechnology industry, year by year. (FY2021 to FY2025, 5 fiscal years of Black Diamond Therapeutics, Inc. with a comparable figure)
The direction
Which way Black Diamond Therapeutics, Inc.'s current ratio has moved, and how steadily. (FY2017 to FY2025, 9 filed years of Black Diamond Therapeutics, Inc.)
What could explain it
What in Black Diamond Therapeutics, Inc.'s filed statements could explain the movements. (3 readings drawn from the statement lines Black Diamond Therapeutics, Inc. filed)
What to check next
What to check next on Black Diamond Therapeutics, Inc., and where in its filings. (1 question for Black Diamond Therapeutics, Inc.)
In one paragraph
One paragraph on Black Diamond Therapeutics, Inc.'s returns, cash, balance sheet and price. (8 of sixteen figures read for Black Diamond Therapeutics, Inc.)

These are BDTX’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research BDTXPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 16, 2026, accession 0001701541-26-000009.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Black Diamond Therapeutics, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Return on equity19.9% ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Return on capital employed, pre-tax9.8% ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Return on assets15.6% ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Gross margin
Why n/a

Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Operating margin17.9% ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Net margin31.9% ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
BDTX 31.9%
SPRO 12.8%ICCC -3.8%ORMP 3202.5%COYA -267.1%DTIL -133.4%
-267.1%3202.5%
Net margin: BDTX against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Black Diamond Therapeutics, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.17 ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Current ratio8.42 ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Quick ratio8.42 ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Altman Z-score-0.84 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Net debt-109.9M ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Total assets 143.0MTotal liabilities 30.8MShareholders' equity 112.2MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Black Diamond Therapeutics, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 16, 2026, 0001701541-26-000009).

Black Diamond Therapeutics, Inc: balance sheet position
Total assets143.0M FiledFY2025 10-K, filed Mar 16, 2026
Total liabilities30.8M FiledFY2025 10-K, filed Mar 16, 2026
Shareholders' equity112.2M FiledFY2025 10-K, filed Mar 16, 2026
Cash128.7M FiledFY2025 10-K, filed Mar 16, 2026
Total debt18.8M FiledFY2025 10-K, filed Mar 16, 2026
Net debt-109.9M
Current ratio8.42
Debt to equity0.17
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Black Diamond Therapeutics, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings4.46x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
P/E on trailing twelve months7.23x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book0.89x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Price to sales1.43x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Enterprise value to EBIT7.82x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Enterprise value to EBITDA7.62x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Diluted earnings per share0.39 USD FiledFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Graham number4.14 USD ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009

We publish no fair value or price target of our own. Value BDTX on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Black Diamond Therapeutics, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Black Diamond Therapeutics, Inc: valuation
Share price1.74 USD
Market capitalisation99.7M USD
Enterprise value to EBITDA7.62x
Graham number4.14 USD
Diluted earnings per share, FY20250.39 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 11, 2020: low 5.21x, median 11.22x, high 53.50x, latest 7.23x. 248 trading days with a meaningful ratio, 1,303 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Black Diamond Therapeutics, Inc

  1. Spero Therapeutics, Inc. (SPRO)Market cap 65.8M USD
  2. ImmuCell Corporation (ICCC)Market cap 95.9M USD
  3. Oramed Pharmaceuticals Inc. (ORMP)Market cap 173.9M USD
  4. Coya Therapeutics, Inc. (COYA)Market cap 101.8M USD
  5. Precision BioSciences, Inc. (DTIL)Market cap 170.3M USD

Same industry (Biotechnology) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

Computed

Black Diamond Therapeutics, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
FY2017 Free cash flow: -2.4M USDFY2017 Net income: -4.6M USDFY2018 Free cash flow: -8.5M USDFY2018 Net income: -8.9M USDFY2019 Free cash flow: -24.7M USDFY2019 Net income: -35.3M USDFY2020 Free cash flow: -52.3M USDFY2020 Net income: -67.3M USDFY2021 Free cash flow: -102.9M USDFY2021 Net income: -125.6M USDFY2022 Free cash flow: -85.3M USDFY2022 Net income: -91.2M USDFY2023 Free cash flow: -66.8M USDFY2023 Net income: -82.4M USDFY2024 Free cash flow: -62.3M USDFY2024 Net income: -69.7M USDFY2025 Net income: 22.4M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Black Diamond Therapeutics, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
4.46xFY2025Oct 15, 2026
0.89xFY2025Oct 15, 2026
7.82xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
n/aFY2025Mar 16, 2026
n/a No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.17FY2025Mar 16, 2026
8.42FY2025Mar 16, 2026
1.43xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
-0.84FY2025Oct 15, 2026
n/aFY2025Mar 16, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
6/9FY2025Mar 16, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 8 filed fiscal years on record, FY2018 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

9 fiscal years, FY2017 to FY2025. 8 read from the annual reports Black Diamond Therapeutics, Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Black Diamond Therapeutics, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202570.0M12.5M22.4M0.39n/a17.9%19.9%10-K, Mar 16, 20260001701541-26-000009
FY20240.00-78.8M-69.7M-1.27-62.3Mn/m-83.7%10-K, Mar 6, 20250001701541-25-000016
FY2023n/a-86.5M-82.4M-1.88-66.8Mn/a-70.6%10-K, Mar 12, 20240001701541-24-000011
FY2022n/a-92.8M-91.2M-2.52-85.3Mn/a-78.8%10-K, Mar 9, 20230001701541-23-000020
FY2021n/a-126.9M-125.6M-3.47-102.9Mn/a-64.1%10-K, Mar 17, 20220001701541-22-000007
FY20200.00-69.6M-67.3M-2.05-52.3Mn/m-21.9%10-K, Mar 25, 20210001701541-21-000018
FY20190.00-29.3M-35.3M-16.99-24.7Mn/mn/m10-K, Mar 24, 20200001701541-20-000009
FY20180.00-8.9M-8.9M-4.42-8.5Mn/mn/m10-K, Mar 24, 20200001701541-20-000009
FY2017n/a-4.1M-4.6M-0.64-2.4Mn/an/mMarket data, supplied Oct 15, 2026accession n/a
  • Revenue: Revenue was not positive in both 2018 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings: Earnings was not positive in both 2017 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2017 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow: Free cash flow was not positive in both 2017 and 2024, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Black Diamond Therapeutics, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Piotroski F-score6/9 ComputedFY2025 10-K, filed Mar 16, 2026, 0001701541-26-000009
Named tests met6 of 30 Computed
Beta2.30 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 6 met, 15 not met, 9 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Deep value; P/E times P/B (Benjamin Graham); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman)
Does not
Defensive investor (Benjamin Graham); Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Dividends and buybacks; Low beta, profitable; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Clean books, high ROIC
Not measured
Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High returns and growth; High yield, low payout; ROIC at or above WACC; Near the 52-week low; Cash-covered dividend; Cash-flow yield and ROIC; Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(14)
  • Return on Invested Capital: No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.
  • Beneish M-Score: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Rev Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 14 figures could not be read on this company, among them Return on Invested Capital, Beneish M-Score, PEG Ratio. Each blank in the table above names the rest, with its reason. 9 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 8 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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